Residential Lending

Clarity will assist by providing a step by step guide coupled with personal assistance to ensure you are guided through each stage of the home buying process. At Clarity we will also provide you with information regarding a product to suit individual needs as well as provide useful information and checklists to ensure you have the ultimate guide to buying your own home.

• Can I afford the commitment I’m making?
• Will the repayments mean my lifestyle is dramatically affected?
• Is there a way to reduce my other commitments?
• Have I allowed for interest rate increases when considering this loan?
• Should I go for a longer term to make repayments easier?
• Should I consider a fixed rate option as opposed to variable for peace of mind?
• Some borrowers may want the flexibility to make interest based payments rather than principal and interest. This repayment option is generally used by investors.
• Foreign investors and ex-patriots should seek approval from the Foreign Investment Review Board prior to seeking finance.
• Most institutions offer options to make repayments weekly or fortnightly by doing this you are effectively making an additional monthly repayment per year.
• Determine what additional banking facilities you will require. This may alter your choice of mortgage provider should you require more than an internet based facility.
• Determine whether a 100% offset option will benefit your financial situation.
• Decide whether you would benefit from either a variable or fixed rate interest rate option.
• When purchasing at Auction ensure a pre-approval has been obtained as there is no cooling off period.
• When purchasing off-the-plan obtain a full prospectus from the developer.
• If purchasing an inner city apartment obtain details on complex and size of unit being purchased.
• When constructing ensure that you will have sufficient funds should building costs blow out or variations are made.
• When borrowing exceeds the normal loan to value ratio Lenders Mortgage Insurance is payable and is a once off payment generally at settlement of the loan.