Can You Afford to Build a New Home?

A white house for sale sign with the words Can You Afford It? asking the question of whether your money budget can handle a home buy or mortgage

If you're planning on building a new home, first and foremost contact your bank/mortgage broker and find out how much you can borrow? Next have a good, hard, honest look at your finances and ensure you can afford to repay what they are willing to lend you - even if it is an investment property there will be times which it may be unoccupied for a variety of reasons and you may … [Read more...]

Understanding Bank Valuations

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Market Valuation or Bank/Forced Sale Valuation? (Mortgage in Possession) What is the difference ? A bank valuation will nearly always be less than the market value. This is because they’re not the same thing. When you take out a home loan, banks use the home as security. For you, the security means that the bank may lend you more at a lower interest rate than without security … [Read more...]