Off the Plan property is a property that has not yet been fully constructed. Some developers offer the chance for buyers / property investors to purchase a property before work has started.

A fixed rate loan means that for a set period of time the interest rate that you pay, and therefore your monthly repayments, remain the same.

The time frame is commonly 1 to 5 years, however longer terms are available.

An auction is conducted in public on a date set by the vendor. If you intend to make a bid, you or your representative will have to attend the auction to make an offer. You will win the auction if you’ve offered the highest bid above the vendor’s reserve price. If all bids are under the vendor’s asking price, the property is “passed in” and the auction is finished. Private negotiations will then usually take place with the auction’s highest bidders.

When you borrow money to buy a property, the lender will take a mortgage over that property to secure the loan – one loan and one security property.

Every lender has their own terms and conditions, and this is intended only as a general guide to understanding this topic. Contact us to discuss your individual circumstances. A construction loan operates slightly differently to a standard home loan. Construction funds from the loan are progressively drawn down at each stage of construction, as detailed […]

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When moving home, you have to take into account the sale and purchase settlement dates, as they will have a significant impact on your home loan and cashflow requirements:

Once you sign a contract to purchase a property you will have to pay a deposit to commit to the transaction and to ensure that the property is taken off the market to any other offers.

There are so many things in life to think about these days! Insurance is so important for peace of mind, however it is not always top of mind.

Construction Loans Insurance Examples