What is the current interest rate on the home loan?

Is it better to have a fixed or variable portion?

If I want to can I have a fixed and variable component?

What are my weekly/ fortnightly/monthly repayments?

Note: It is very important to find out from your mortgage broker how each lender calculates weekly or fortnightly repayments. Accelerated payments are calculated by dividing your monthly repayment by two for fortnightly and by four for weekly repayments. This method can save you a substantial amount of interest and can reduce your home loan term, but your repayments are higher than actual fortnightly or weekly repayments.

Are there various establishment, valuation or legal fees payable?

What about any ongoing monthly/annual fees?

If I want pre-approval, are there any upfront fees?

Does this lender have a good customer service model?

Does the lender provide Internet/ phone banking?

Do I incur any fees for discharging my home loan?

Can I make additional lump sum payments or increase my current repayments?

Are there any additional fees for these services, and if so, what are they?

Are there future costs involved if I discharge the loan, decide to change the loan products, want to increase my repayments or make a lump sum repayment?

Neighbours and tree roots

Water restrictions and drought have changed the way we live from day-to-day. For some rental properties, this is causing a new challenge.

Like humans, trees are searching for alternate sources of water, which can unfortunately create costly outcomes. Depending on the aggressiveness of the root system and tree type, damage to fences, pipes, and foundations can be dramatic.

Neighbours will certainly be upset if concrete starts moving, or a sewerage pipe is damaged. But what if the neighbour’s tree roots are damaging YOUR investment?

A lot of the time it’s impossible to know, which tree is causing the problem, and invariably these disputes can end up in a who pay’s for what. Prevention though, as always, can be the cure. Here are some hints to help avoid this problem happening to your property:

1. Obtain a full report from at least two qualified plumbers

2. Remove suspect trees and roots.

3. Have your plumber install root barriers; keeping in mind these may not stop certain types of species.

4. If a dispute arises ask the plumber to dig, exposing the roots, enabling you to track back to the source. Make sure you take photos.

Ask your lender if you can pay your salary directly into your home loan. This reduces your loan balance and the amount of interest you pay.

Think about what a low rate of interest your salary is earning in your savings account and how it could be put to better use.

From the desk of the Asset Manager

We trust that you had a happy and safe Christmas! We would like to take this opportunity to wish you a bright, fun, goal fulfilling and prosperous New Year.

Did you know “the best time to buy real estate was yesterday, the next best time is today and the least best time is tomorrow!?/p> Inspirational Note

“If your position is everywhere, your momentum is zero.?/p>

Michael Korda