Buying a property is pricey. Sometimes, even though you’ve found the perfect place, you just can’t afford the deposit, which means both you and the vendor miss out on the sale. 

Enter deposit bonds. 

What is a deposit bond?

Essentially speaking, a deposit bond, which can be issued for up to 10% of the property purchase price, is insurance that you will come up with the money for the deposit by the time settlement rolls around. 

Paying off a mortgage can seem relentless – every payment counts of course, but it can seem to be taking forever to make a dent. Here are some simple ways you can increase the amount you pay off and own your home sooner.
Reducing the principle on your mortgage as quickly as you can means paying less interest, so your future payments are going even further towards reducing that principle.
To find the ideal balance between the extra repayments you can afford to make and the time this will shave off your mortgage term, use a mortgage calculator.

If you’re on the hunt for a new home, the term ‘borrowing capacity’ is something you’ll want to familiarise yourself with.

It’s a crucial factor in the world of home loans, so let’s dive into what it means, how lenders determine it, and how it affects your finance application.

What is Borrowing Capacity?

Essentially, it is the maximum loan amount a lender is willing to offer based on your finances. 

It’s the key to your home loan application, determining the highest funds available for your property purchase.