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

Should you pay your loan repayments fortnightly rather than monthly?

Interest on home loans is calculated daily on the outstanding balance and charged to the loan account monthly.

A construction loan allows you to borrow against the construction progress of a new building based on the estimated completed value of the property.

Comparison rates are a legislated requirement for lenders to provide to home loan consumers.

All credit providers must give a comparison rate when they advertise a rate or a weekly payment for home loans. The comparison rate includes the interest rate or weekly repayment amount, plus most fees and charges.

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.

Yes, you can get cheaper interest rates than my panel of lenders…but you get what you pay for!

They are a low/no service offer. Consider my value propositions, all of the invaluable advice, support and single point of contact I provide.

As a professional mortgage broker, we will assess your needs taking into account both your personal and financial goals, and will provide professional written advice on loan structure, lenders and products.

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.

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.

If you have changed your name due to marriage (or divorce), your property and loan are in your old name and you want to update your name. It’s not simple or free. There are several processes to go through, with quite a few fees and costs involved.