Want to mortgage a house? Learn some tips to save your money!

1More and more overseas investors like to buy a house on mortgage in Australia nowadays. However, without a deep and comprehensive understanding of Australian loan rules, they often get themselves into trouble.

If you want to mortgage a house, there are some tips you should know first.

 

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One, do not provide too much material and information

In most cases, we will believe that,  in order to apply for a home loan, it is necessary to submit all the materials that can be provided and believe that more materials, more chances.

This is like thinking that if you use a bank longer, you are more qualified to get loans as an old customer.

However, the truth is, the bank will never evaluate a customer according to their “business period”. Banks always require customers to provide materials in accordance with loan policies. Too much material will not have any extra effects, but only just waste the approval time, reduce the efficiency of the loan, increase the chance of error and unnecessary misunderstanding.

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Two, do not tell lies when applying for a loan

Australia has a very strict process for customers applying for loans. If any mortgage applications are found lying about their salaries, their current loans may be withdrawn.

Do not sign on the mortgage application form before all things have been settled. Because the lending institutions are always exaggerated, so that customers may find it is hard to afford the mortgage after signing the paper.

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Three, too many credit cards are useless

 Owning many credit cards means declaring that your credit history is bad, even if you always pay back on time, there are still many risks for the bank. So owing too many credit cards are a bad thing for getting the loan.

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Four, do not hide when you can not afford to loan

 When people can’t afford the loans, they may refuse to answer the calls, reject all the emails and so on. In fact, the lender has a lot of ways to deal with the situations if you talk about the difficulties faced with them. However, if you choose to hide, the lending institutions may have no other choice but sell your property.

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Five, do not skip the step of checking room

 Inspection staff will help you carefully check the house, tell you whether the roof or the basement is leaking, whether the room machinery and equipment are still good and how long the electronic applications can be used. They can test better than you. So do not skip the step of checking room.

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Six, Do not pay the decoration fee at once

If the decoration company asks you for one-third of the total cost at the beginning, there must be something wrong. They may escape with all the money you have paid. So, the best advice is, do not pay all the cash before all the things have been settled.

Seven, Do not destroy the mortgage contract after paying off the mortgage

When you pay off the loan, the contract seems useless anymore, after all, now everything is owned by you. However, you should remember that throwing away the contract is a high risk. So the best choice is to find a safe and reliable place to store all the relevant documents.

8Eight, Pre-approval is not equal to the formal loan approval

For people who want to buy a house, pre-approval provides a convenience for them to make a plan. But it should be noted that the pre-approval does not represent the formal loan approval.

On the one hand, under the pre-approval state, the interest rate is likely to change. Banks will adjust the loan products from time to time. So when the customers finally decide to sign the contract, the interest rate may have already risen a lot.

Therefore, the best way to deal with this problem is to lock the rate, the bank can lock the interest rate for customers in a certain period, which are around 30 days, 60 days or 90 days and the cost of this may be just several hundred blocks.

In addition, when the customer plans to apply for the formal approval, the bank will check the customer’s latest income situation, such as payslips. If the customer just leave or for some reason can not provide the latest income, the loan application will be rejected.

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Nine, Low interest rate is not always good (the cost of lending)

Many banks take low interest rate as a way to attract customers. But do the low interest rates mean better? Not necessarily.

Some banks have introduced a Honeymoon Rate, meaning that the interest rate discounts are really big at the beginning of the loan(about 6 months to 1 year), and then it will come back to normal rates or even higher than average.

Besides, even if the bank promises that the interest rate discount is permanent, it still can not prove that the product is a good choice. Banks usually do not tell the customers about the annual fee, transfer fee, handling fee, exit fee, etc on their advertisement. These hidden costs may make you spend even more, so, you must ask about the varied costs before applying for the loan.

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Ten, Other bills will also affect the loan

Banks are very cautious in reviewing the information of the applicants, and they are concerned about the risks of lending to the applicants. The way to assess the risks is to look at the applicant’s credit report and refer to the repayment record for the other bills.

If there is some bad records like delaying the phone bills, on applicants’ credit report. They may not be approved to get the loan.Because they think that a similar situation is likely to happen on the mortgage.

Similar things like overdue or over limit will be considered as bad records and will also affect the loan evaluation.

Banks expect customers to have a stable income and can repay on time. But it does not mean that a customer with bad credit records are unable to loan, there are still some banks which can accept a certain degree of bad records.

 

准备抵押房子? 为您节省Money所需的Tips!

1目前越来越多的海外投资者希望能用贷款的方式在澳洲购置物业。然而由于没有深入了解和懂得澳洲的房屋贷款规则而是的自己陷入麻痹。

如果您想抵押贷款购置物业,首先我们必须给您一些提示。


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一.不要提供过多的材料和信息

 在大多数情况下,我们以为在申请房屋贷款的过程中,提供所有的或更多的材料会增加申请通过的几率。

这就如同想象中银行会给于老顾客有更多的资格获得贷款。

然而,事实是银行从不会以新、老顾客来进行评估。银行都是根据贷款条款来要求顾客提供材料。过多的材料并不会增加优势,反而会浪费很多的申请审批时间,降低审批的效率,增加不必要的错误而导致申请不被通过。

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二.申请必须提供真实材料

 澳洲对申请贷款的客户审查非常严格。房贷申请时过于夸大工资数额,被发现后,虽不会因此遭到贷款机构起诉,但对方可能会考虑收回贷款。

在房贷申请表上的各项未填好前,不要签名,因为贷款机构总是言过其实,以致客户签好字后发现根本无法负担按揭数额。

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.太多信用卡有害无益

信用卡过多就等于在向银行宣称自己信用记录很差,即使你总是按时还债,也可能存在着拆东墙补西墙的嫌疑。因此办理过多信用卡在贷款方面有害无益,存在被拒贷的风险。

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.还不起贷款时不要躲藏

 很多人遇到这种情况就拒接电话、拒收催款信件。其实,贷款机构有很多方式来处理这种情况,比如收回抵押品或房子。但他们一般不会这么做,而是找贷款人谈一下面临的困境,除非你躲起来,让贷款机构别无选择。

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.不要为了省钱跳过验房

验房人员会从头至尾帮你仔细检查房子,告诉你屋顶、地下室是否漏水,房内的机械设备是否能用,使用年限多长。他们检验的比你好。因此不要为了省300~400元因小失大。

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.不要一次就支付装修费

如果装修商要你三分之一的费用,其中有诈。坏的情况是,不给装修卷款潜逃。好点的情况是资金不足,不能购买原材料或支付工人工钱。无论如何,都不要付现金。

.还清房贷时不要毁掉房贷契约

当你还清贷款后,将契约付之一炬的确很爽,毕竟现在一切都归你所有了。千万别这么做,找个安全可靠的地方存放好所有的相关文件。

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.贷款预批不等于贷款全批

 对于要买房的人来说 ,预批(pre-approval)为买房者们规划买房的类型和大小提供了便利。但需要注意的是,预批并不代表正式的贷款批准。

一方面,预批状态下,利率很可能会产生变化。银行时不时对贷款产品进行调整,等到客户签合同准备把预批转成正式批准的时候,利率也许已上升不少。

因此,最好的应对方法就是锁定利率(rate lock),银行可以为客户在一段时间内把利率锁定,一般可选30天、60天、90天,费用为几百块不等。

另外,在转为正式批准时,一般银行会查看客户最新的收入状况,如payslips。如果客户恰好离职或出于某些原因无法出示最新收入,贷款申请将被拒绝。

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.利率并非越低越好(转贷产生的费用)

不少银行以利率为卖点吸引客户转贷。但利率是不是越低越好呢?不一定。

有些银行推出蜜月利率(Honeymoon Rate),意思是在贷款开始一段时间(大概6个月至1年)的利率折扣较大,往后会反弹到普通利率,甚至会高于平均。

另外,即使银行承诺利率折扣永久有效,也不能证明该产品就是一个好的选择。银行通常不会在广告上告诉客户产品的年费、转账费、手续费、退出费等。这些隐藏费用也许不但让你省不了钱,甚至还花费更多,所以这些这些五花八门的费用,你务必要在贷款前一一询问清楚。

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.其他账单也会影响贷款

银行在审查贷款时候是非常谨慎的,他们要顾虑放贷给申请人的风险,而评估该风险的途径就是查看申请人的信用报告和参考其他账单的还款记录。

如果信用报告出现电话费账单欠费导致default,一般银行不会批准贷款申请,因为他们认为类似情况很可能出现房贷上。

类似如过期未付(overdue)和超额度刷卡(over limit)也会被视为不良记录,会影响贷款通过率。

银行期盼的客户是有稳定收入并能按期还款的人。但也并不是有过信用不良记录的客户就都无法贷款,有些银行可以接受一定程度的不良记录。