Before you start house hunting, it is important to know how much you can borrow. This one number can shape your entire property journey.

Lenders look at more than just your income. They want to be sure you can repay the loan comfortably, even if interest rates go up. This is referred to as ‘loan servicability’.

Here is what they focus on:

• Your Income versus Expenses: They check how much you earn compared to what you spend. This includes everyday costs, existing loans and credit card limits.They also apply a three percent buffer on top of the current interest rate to see if you could still manage the repayments in tougher conditions.
• Debt-to-Income Ratio: This measures your total debt against your yearly income. Most lenders want this number to be under six. That means if you earn eighty thousand a year, your total debt should stay under four hundred and eighty thousand.
• Why It Matters: Understanding these numbers puts you in a stronger position. A few small changes to your finances could increase your borrowing power and open more doors.

We can help you get clear on your numbers and show you your options. To book in your 15-minute free, no-obligation digital consultation, click the link below:

• Book a Quick Chat
• Request a Call-Back

Getting a home loan can be a stressful and time-consuming process. You go from bank to bank, comparing rates, filling out forms, and hoping you are not missing a better deal somewhere else.

But there is another way. More buyers and homeowners are now turning to mortgage brokers for one simple reason. They make the whole thing easier.

Unlike banks, mortgage brokers work with a wide range of lenders. This gives you more choice and a better chance of finding the right loan for your situation.

Here are why more people are choosing brokers over banks.

More Loan Options

Banks can only offer their own products. That means you are limited to whatever they have on their books.

Mortgage brokers have access to multiple lenders. This means you get:

• More loan products to choose from
• Competitive interest rates
• A better fit for your personal situation

Free of Charge & Best Interest for the Borrower

An independent Mortgage broker is paid by the bank or the financial institution providing the loan when the loan is written, and a typical mortgage broker in Australia does not  charge any additional service fee on top.

This however doesn’t mean they are at the lender’s interest – in the contrary, the best way for the mortgage broker to secure  the loan is to make sure they offer their client the best possible borrowing solution and loan product, making an indepedent mortgage broker more likely to act on their clients’ best interest than those working for, or are associated with a set bank or financial institute.

Saves You Time and Effort

Shopping around with different banks can take hours. A broker does the heavy lifting for you. You only need to explain your situation once, and they will take care of the rest.

You save:

• Time comparing offers
• Energy filling out the same details again and again
• The stress of back-and-forth with different banks

One Contact the Whole Way Through

Banks often change staff, which means you might speak to someone different every time you call. That makes it harder to get clear answers or updates.

When you work with a broker:

• You deal with one person from start to finish
• You get consistent support
• You know who to call if you have questions

Here to Help

Whether you are buying your first home, refinancing or investing, we are here to make the process simple. We listen, compare, and support you every step of the way.

Let’s Talk

We offer free 15-minute chats with no obligation. Whether you are ready to get started or just exploring your options, we are here for you. To book in your free, no-obligation digital consultation, click the link below:

• Book a Quick Chat
• Request a Call-Back

You’ve probably heard about co-living popping up as a popular rental option, but how does it really compare to the traditional way of leasing a property? And more importantly, could your home be a good fit for co-living?

Let’s break it down.

How Traditional Rentals Work

With traditional rentals, you lease the whole property to one tenant or household under a single agreement. It’s straightforward, reliable, and usually involves fewer day-to-day hassles.

What Makes Co-Living Different?

• Co-living means renting out individual rooms to separate tenants who share common spaces like the kitchen, bathroom, lounge, and outdoor areas. Each tenant has their own lease, making it more flexible.
• This setup is especially popular with students, young professionals, or newcomers who want affordable rent but also a sense of community.

What You Need to Know About Co-Living

• You can legally rent rooms to up to three single tenants. If there are four or more tenants, the property becomes a rooming house, which requires a different licence and follows stricter rules.
• Co-living can bring in more rental income because you are renting by the roomHowever, keep in mind, as a co-living property landlord, you will still be required to cover items usually not required by a traditional rental such as utilities since these homes aren’t separately metered. That can add to your costs.
• Managing co-living properties takes more time. With several tenants, there’s more communication, maintenance, and coordination involved, which usually means higher management fees.
• All shared areas must be fully furnished and comfortable. This not only attracts tenants but also helps meet co-living standards.

Most residential properties can become co-living spaces, but it is important to weigh the pros and cons. If you are looking to boost your rental income and don’t mind the extra work involved in managing multiple tenants, co-living could be a great option.

However, if you prefer a simpler setup with just one lease and fewer tenants, traditional renting might suit you better. It is also vital to remember that renting to four or more separate tenants without the proper licence is illegal, so knowing the rules and staying compliant is essential.

If you want to find out whether co-living could work for your property or need guidance on the legal and management side of things, we’re here to help.

Interested in Exploring Co-Living?

Reach out for a free 15-minute, no-obligation chat and let’s explore your options together.