Debt consolidation is where you increase or re-finance your home loan and use the funds to payout credit card, personal loan or car loan debt

An offset account is simply a bank transaction or savings account that’s attached to your home or investment loan.

A redraw loan enables you to make extra regular or one-off payments above your minimum monthly repayment. The redraw facility allows you to access those extra payments when you need them.

When you sell a property, whether you are selling your home to move or cashing in your investment property, you want to achieve the highest possible selling price.

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A glossary of terms you may encounter when purchasing property or obtaining a mortgage.

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.

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:

Life events such as unemployment, health issues, relationship separation and natural disasters can impact your ability to meet your home loan commitments. In such events you can ask your home loan provider for a hardship variation to change the terms of your loan.

Generic process:

• Get a statement of advice from your Financial Planner.
• Have your accountant set up the SMSF Trust for you. Ensure that the trust deed enables borrowings.