First Time Buyers/Mortgage Advice Websites
Dec 5th 2005, 6:51 pm
#1
Thread Starter
Joined: Sep 2005
Posts: 715
First Time Buyers/Mortgage Advice Websites
Has anyone come across any good websites giving sound advice about this - the pitfalls, costs, procedures etc?
Am I right in thinking that each state in Australia is slightly different as far as this and costs?
We are complete virgins to Australian buying
Am I right in thinking that each state in Australia is slightly different as far as this and costs?
We are complete virgins to Australian buying
Dec 5th 2005, 9:13 pm
#2
Thread Starter
Joined: Sep 2005
Posts: 715
Re: First Time Buyers/Mortgage Advice Websites
Also need to ask
Mortgage/Financial Adviser versus Going to Banks/Financial Institutions direct?
What is the best way?
Cheers in advance.
Mortgage/Financial Adviser versus Going to Banks/Financial Institutions direct?
What is the best way?
Cheers in advance.
Dec 5th 2005, 10:55 pm
#3
Forum Regular
Joined: Nov 2005
Posts: 158
Re: First Time Buyers/Mortgage Advice Websites
Hi
Some links/opinions that might help:
1. For a summary of property buying costs in Australia - http://www.exfin.com/REBuying-Costs.php - stamp duty is the largest cost, and varies slightly by state.
2. Mortgage brokers in Australia don't charge a fee - they are paid for by the bank/building societies. Surprisingly, I found I could get a better deal through a broker than directly with my own bank because the broker will discount/rebate their margin and the bank won't. Which is crazy, it means there is little value in maintaining a long term realtionship with a bank. Just make sure that the broker is reputable and remunerated the same no matter what loan they advise. Go to http://www.infochoice.com.au/banking...ns/default.asp to see a range of home loans for your circumstances.
3. As first time buyer you will probably be eligible for a home grant - see www.firsthome.gov.au, and there may be grants available from State governments.
4. www.realestate.com.au is a good site both to view property and has information on the purchase process and associated legalities
Some links/opinions that might help:
1. For a summary of property buying costs in Australia - http://www.exfin.com/REBuying-Costs.php - stamp duty is the largest cost, and varies slightly by state.
2. Mortgage brokers in Australia don't charge a fee - they are paid for by the bank/building societies. Surprisingly, I found I could get a better deal through a broker than directly with my own bank because the broker will discount/rebate their margin and the bank won't. Which is crazy, it means there is little value in maintaining a long term realtionship with a bank. Just make sure that the broker is reputable and remunerated the same no matter what loan they advise. Go to http://www.infochoice.com.au/banking...ns/default.asp to see a range of home loans for your circumstances.
3. As first time buyer you will probably be eligible for a home grant - see www.firsthome.gov.au, and there may be grants available from State governments.
4. www.realestate.com.au is a good site both to view property and has information on the purchase process and associated legalities
Originally Posted by merlotsmum
Also need to ask
Mortgage/Financial Adviser versus Going to Banks/Financial Institutions direct?
What is the best way?
Cheers in advance.
Mortgage/Financial Adviser versus Going to Banks/Financial Institutions direct?
What is the best way?
Cheers in advance.
Dec 6th 2005, 8:27 am
#4
Thread Starter
Joined: Sep 2005
Posts: 715
Re: First Time Buyers/Mortgage Advice Websites
Originally Posted by Fardell
Hi
Some links/opinions that might help:
1. For a summary of property buying costs in Australia - http://www.exfin.com/REBuying-Costs.php - stamp duty is the largest cost, and varies slightly by state.
2. Mortgage brokers in Australia don't charge a fee - they are paid for by the bank/building societies. Surprisingly, I found I could get a better deal through a broker than directly with my own bank because the broker will discount/rebate their margin and the bank won't. Which is crazy, it means there is little value in maintaining a long term realtionship with a bank. Just make sure that the broker is reputable and remunerated the same no matter what loan they advise. Go to http://www.infochoice.com.au/banking...ns/default.asp to see a range of home loans for your circumstances.
3. As first time buyer you will probably be eligible for a home grant - see www.firsthome.gov.au, and there may be grants available from State governments.
4. www.realestate.com.au is a good site both to view property and has information on the purchase process and associated legalities
Some links/opinions that might help:
1. For a summary of property buying costs in Australia - http://www.exfin.com/REBuying-Costs.php - stamp duty is the largest cost, and varies slightly by state.
2. Mortgage brokers in Australia don't charge a fee - they are paid for by the bank/building societies. Surprisingly, I found I could get a better deal through a broker than directly with my own bank because the broker will discount/rebate their margin and the bank won't. Which is crazy, it means there is little value in maintaining a long term realtionship with a bank. Just make sure that the broker is reputable and remunerated the same no matter what loan they advise. Go to http://www.infochoice.com.au/banking...ns/default.asp to see a range of home loans for your circumstances.
3. As first time buyer you will probably be eligible for a home grant - see www.firsthome.gov.au, and there may be grants available from State governments.
4. www.realestate.com.au is a good site both to view property and has information on the purchase process and associated legalities
MMum
