• Should I refinance my home loan?

    Refinancing your mortgage can save you money and it may be worthwhile exploring if this is a suitable option for you.

    Each lender has differing fees and offers and should be considered carefully to ensure you are getting the most out of your home loan.

    There are various costs associated with changing your loan, and we’ll work hard to try and get as many of these costs covered by the new financier as possible.

    To simplify, if your investment property interest rate doesn’t start with a 3, or if your home interest rate doesn’t start with a 2, you are paying too much. This is where Highland Financial Services can review your situation and assess the option of refinancing.

    To get free advice on what your best plan of action should be, call us to arrange a free loan check.

  • How can I avoid paying lenders mortgage insurance (LMI)?

    Lenders will require borrowers to take out LMI if they have less than 20% of the property price to contribute towards their home loan. There are a two ways to paying lenders mortgage insurance.

    1. Use equity from an existing property
    2. Use equity from a family members home

    However, there are some lenders in the market that lend to higher debt levels in comparison to the value of the property. Therefore, there is a degree of flexibility when choosing which loan provider to secure.

    Try our repayment calculator to see the difference additional savings can make to your loan.

    We would love to sit with you in a meeting and consider the best way of avoiding LMI.

  • What are the benefits of an offset account?

    An offset account linked to a home loan can be used instead of a savings or transaction account to reduce the interest and term of a loan. This type of account gives you the flexibility to use cash when you need, whilst minimising the interest charges when the cash is dormant.

    The balance in the offset account is deducted from the value of the home loan, lowering the monthly interest calculations on the mortgage.

    There are also additional tax advantages when utilising an offset account correctly.

    Give us a call to find out more on how an offset account can benefit you.


  • My credit history isn't perfect, can I still get a loan?

    Sometimes life doesn’t go according to plan. If you have had the misfortune of your finances and credit history being impacted by circumstances out of your control, then you may still qualify for a home loan.​

    We do have lenders on our panel that can help you in this situation.

    Call us now to book a free and confidential appointment to find out how we can help you secure a low-doc loan.

  • How much deposit do I need?

    As a general rule, you should aim to put down a deposit of 20% to avoid paying Lender's Mortgage Insurance (LMI).

    We do have lenders that will accept a 5% deposit, however a deposit of 10%-20% is preferred.

    Use our Repayments Calculator to see what impact different levels of deposit will have on your loan.

  • My fixed term is expiring soon. How can i still take advantage of fixed rates?

    As the fixed rate term on your home loan reaches maturity, you have two options available to you. If you choose to do nothing, then the loan will simply revert to the current standard variable rate. However, if you prefer the peace of mind that fixed rates offer on your monthly loan repayments, you can consider having your loan re-fixed for another term.

    Before your fixed term loan reaches maturity, call us to discuss the benefits of having your loan re-fixed for another term.

  • What is a family guarantee loan?

    A family guarantee loan is a guarantee provided by a family member (usually parents) to the borrower. This guarantee allows borrowers who do not have sufficient funds to cover the entire purchasing costs to acquire a loan. In place of gifting cash to the borrower, the guarantor releases equity from their home as a form of collateral.

    The equity borrowed from the parents’ property is released when the purchased property has gone up in value by the amount covered by the guarantee.

    For further information on using a family guarantee loan to assist with your purchase, call us to book a free and confidential appointment.

  • What is a deposit bond?

    A deposit bond is a certificate issued to a seller or a developer which acts as a guarantee and can be used in place of a deposit. If a buyer fails to meet their financial obligations on their property at settlement, the deposit will be transferred to the developer or seller. You then pay the bond issuer the 10% owed on the purchase.

    Deposit bonds are favoured by many buyers seeking to buy off the plan; but it’s important to note that not all developers accept deposit bonds.

    As such, it’s important to first check this with your developer if you are considering using a deposit bond.

    Contact us for more information on how a deposit bond could help you secure your property purchase.

  • When is a good time for a home loan health check?

    We recommend having a yearly home loan health check. We’ll review your loan to find out how your loan is performing compared to other loan products on the market and to ensure your loan is working well for you. If you service your home loan regularly, you might save thousands of dollars on your home loan.

    Call us now to book your free home loan health check.

  • What is involved in buying off the plan?

    Buying property off the plan means committing to buying a property that hasn’t yet been built. For buyers, this can be a more affordable and flexible alternative than buying an existing property. With lower purchase prices than established properties and the option to pay a deposit upfront and balance on completion, buyers benefit from being able to build extra savings and can potentially see capital appreciation before the property is even completed.

    Considering an off the plan purchase? We can help you find the best financing solutions to secure your purchase. Call us now.

  • What is a top up?

    A top-up is an increase on an existing mortgage, giving the borrower access to additional funds. The top-up allows the borrower to access the equity in their property to borrow additional funds against their house.

    These funds can then be used by the borrower for investing, renovating or other grand plans.

    To find out how you can access the equity in your home, give us a call to arrange a free and confidential appointment.

  • How much stamp duty will I need to pay?

    The stamp duty you will need to pay on your purchase will depend on a number of factors, such as;

    • The value of the property
    • If it is your primary residence
    • The state in which the property is being purchased
    • Your residency status

    Use our Stamp Duty Calculator to find out how much will need to pay.

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