HOW MUCH CAN I BORROW?

Lenders have different lending policies and servicing ratios which can affect the amount you can borrow. Lenders look at 2 major factors when assessing your financial situation.

• What is the value of the security on offer, or cash available to complete the purchase.
• Level of income to service the loan. We at Vogue financial solutions have some of the most up to date systems which will enable us to identify your borrowing capacity within minutes. Contact us direct with your household income, list of liabilities and what you wish to achieve (refinance, purchase, invest...)

SHOULD WE FIX OUR LOAN?

There are both advantages and disadvantages when deciding to fix your loan.

Advantages: You loan repayments will stay exactly the same through the duration of the fixed period. If the RBA increases the official cash rate, you interest and loan repayments will remain unchanged and this type of option is more suitable for those who want peace of mind.

Disadvantages: If the interest rates drop, your interest rate will again remain the same. With fixed loans, you can make a few extra repayments per year but it doesn't allow you the flexibility to repay more off your loan. Fixed rates are generally higher than the standard variable rate.