Loans in Cardiff

Mortgage brokers in Australia are subject to extensive regulation. They must be licensed and adhere to a strict code of conduct, as well as being registered with the Australian Securities and Investments Commission (ASIC).

Mortgage brokers must be registered with an approved external dispute resolution provider, who provides professional indemnity (PI) insurance for all licensed brokers and their employees. The PI insurance covers the broker and/or their business for claims arising from advice given to clients as part of activities related to providing mortgage broking services.

LVR (loan-to-value ratio) is a measure of the loan amount compared to the current market value of a property, expressed as a percentage. For example, if you get a $400,000 loan for a home currently valued at $500,000, your LVR would be 80%. The lower the LVR, the less risk a lender takes on by lending to you. A lower LVR may also mean you get better terms and interest rates from lenders. As such, it’s important to know your LVR when shopping for a loan.

The NSW Government offers a First Home Buyers Grant of up to $10,000 for eligible first home buyers who purchase or build a new home. To be eligible, you must be aged 18 years or over, be an Australian citizen or permanent resident and have never owned property in Australia before. You must also meet certain income requirements and the house price threshold to qualify for the grant.