iainandsam

where is the best place to start looking into mortgages, how much we can borrow, pay back etc etc, fees??

comet555

I would go to any of the bank websites and use the calculators they have.

Ours is with Westpac so here's there link:
http://www.westpac.com.au/internet/p...tors+and+tools

Each bank website would likely have their own calculators, the results should be very similar. It should give you a pretty good idea.

harrip

Try a broker who can shop around a number of providers to find you the best deal for what your looking for. I used www.aussie.com.au - they can search the top four banks as well as non-bank lenders.

Burbage

Right now I'd say that if you don't have 20% of the value of the property then you'll have a hard time getting a mortgage. You could take out mortgage lender's insurance to cover the bank, but according to my broker the premiums have shot through the roof, since most of them are American companies who have lost a fortune in America.

So, essentially, the easiest way to think is:

(The amount I'm using as a deposit+first home buyers grant-costs-amount I need when I move)*5

sj oldfield

Yeah a broker will get you a deal, but will get the deal that lines their own pocket first!!

Try www.bankwest.com.au

sj oldfield

[QUOTE=Burbage;7203504]Right now I'd say that if you don't have 20% of the value of the property then you'll have a hard time getting a mortgage.




Not always the case, my son has just got 100% mortgage

Reedy

[QUOTE=sj oldfield;7207429] Not many of the banks are offering them though......

Even the 100% mortgages people need to have cash up front to pay for stamp duty, conveyancing and of course insurance already mentioned.

Lau