Is Your Property Loan In Your Comfort Zone

Make Sure Your LVR Is Not Too High

When you are preparing to apply to purchase a property, its worth thinking about future situations involving your cash flow.
How can you see yourself being able to make the repayments if you have a minor or major bill involved with the property.

Such issues like emergency repairs, tenant damage, accidental damage, and losing your own cash flow come to mind.

All of these worst case scenarios should be taken into account and measured against your lending situation.
The last thing needed is a mortgage collapse because of a lack of short term cash flow to fund loan repayments. If your loan to value ratio (LVR) is too high you have no room to move, the higher loan usually means higher loan repayments also.

Age old saying: Plan for the worst, and Expect the best

Have You Got A Valid Building Inspection

Make Sure Your Property Due Diligence Is Complete

When you start to look into a property for the purpose of purchasing it, its important to
have all the facts present before you sign on the dotted line.

One of the most important pieces of information you should have is the view of a registered builder
or a qualified building inspector. These tradesman are specialists in finding faults and investigating the overall
integrity of a building.

This is not to be taken lightly as some cosmetic faults can be fixed for few hundred dollars, while others can compromise
the foundations and overall safety of the structure. 
They check the property from top to bottom and sometimes take x-ray vision of walls and foundations to check for moisture
and corrosion. This is vital to a thorough inspection.

Having this important info before you purchase your next home to live in or investment property can be the difference between
heartache and bliss!

Pre-approval For Mortgages and Loans

Make Sure Your Mortgage Finance Is Organised Before You Purchase

Having pre-approval before you sign a purchase and sales contract on your next property
is very important so you know where you stand with finance. The lat thing you want is to have to
opt out using a finance clause and be embarrassed as you have nothing in place in way of a bank loan etc.

Get a fully qualified mortgage broker on board and make sure you have finance organised!
This way you can be confident when signing your next home or investment property contract