Consumer News

Financing your property purchase is not simple

21 October 2017

By Tim McKibbin – REINSW CEO.

Borrowing money to buy a home sounds simple, unfortunately it’s not.

When borrowing money most people don’t realise the need to consider many significant issues above and beyond the interest rate of the loan.

These include costs such as account keeping fees, loan application fees, mortgage insurance, valuation fees, mortgage registration fees, and even an early repayment fee!

My advice when looking to finance a property purchase is do your research and compare loans to see which suits you best. Alternatively, you can engage a professional advisor who has expertise in this area.

Comparing loans can be a complex and lengthy process, nonetheless it’s important because it can save you a great deal of money over the term of the loan.