Prince Capital Solutions

Every bank has a different set of rules around how much it will lend, and to who.

Fortunately for our clients, we have insight into these closely-guarded policies and can help you understand which lenders are more likely to approve your loan application.

Talk to us today to understand more.

If you have a home loan – or are looking to get one – you’ve probably heard that the RBA decided to keep the cash rate steady at 4.35%.

While it’s not the rate drop we were hoping for, it’s still good news.

Since major rate cuts are still a way off, now is a great time to chat with us to see if we can find you a better deal from the banks.

Whether you already have loans, are considering investing in property, or are excited about buying your first home, reach out to us to explore your options.

The great debate: fixed vs variable home loans 🏠

Deciding which type of home loan is best for your individual circumstances can be daunting.

There is so much to consider as you weigh up the pros and cons, so having a trusted mortgage broker in your corner is a smart move.

Get in touch with us today to discuss which kind of home loan will work in your best interests.

Those online calculators are not exactly famous for being accurate. So how much can you really borrow?

It used to be that banks would let you borrow around ten times your annual income. These days it's closer to 6 or 7.⠀
⠀
(It depends on your existing debts, of course).⠀
⠀
Each lender has their own policies on how they judge different sources of income. Some won't factor in your overtime, for instance. Others won't include the earnings from your freelance work.

This can be the difference between being able to borrow enough for your dream home, or not.⠀

Or the difference between getting approved for Loan A, versus getting knocked back from Loans A, B and C.

Don't go it alone - get in touch to talk about the best approach to your unique situation.

Feeling like you want to hide from your finances? If you've got credit cards and personal loans, it can seem like no matter what, you're barely chipping away at those debts.

These kind of debts can sap your disposable income, and sidetrack your savings efforts - potentially putting the brakes on your plans to buy your own home.

We've been achieving some amazing results for clients by consolidating their debts. We're talking huge savings on interest. Money back in their pocket, and paying down their debts faster.

Why wouldn't you? Get in touch to find out how.

With reports floating around that homebuyers now need to save up to $100k more for their deposit (than four years ago), we figure it's time to share this reminder:

📣You don't necessarily need a 20% deposit to buy your first home📣

There are other ways to get your foot in the door, including:
– Accepting a cash gift (usually from your parents)
– Being in a profession where banks waive LMI
– Taking up lenders mortgage insurance
– Asking family to go guarantor

Get in touch to understand your options.

Not all debt is created equal. Borrowing funds to finance a property purchase (that will increase in value) is one thing, and certainly not a bad thing.⠀⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Bad debt is an entirely different beast. We’re talking credit cards, payday loans, even buy now, pay later services.⠀⠀⠀⠀⠀⠀⠀⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
These types of debt can impact your chances of being approved for a home loan - so the sooner you clear them, the better.⠀
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Get in touch for advice on what the banks will consider when assessing your home loan application.

This week is Men's Health Week 🙋‍♂️

What can we do to support the physical and mental health of the boys and men in our lives?

Whether it's:
– Going for a walk
– Cutting out the beers
– Improving your sleep habits
– Going to see your GP for a check up

Make 2024 your healthiest yet!

Sure, you could spend your weekend trawling the internet, comparing interest rates, completing paperwork, plugging your details into calculators…or you could find a professional to do it for you.

'Time isn't the main thing. It's the only thing' - Miles Davis.

Most loans go through a mortgage broker these days, because most lending scenarios aren't as straightforward as they used to be. That, and the fact people want:
– Choice
– Flexibility
– Expertise
– Someone working in their interests, not the bank's!

If you went through a broker for your loan, tell us: what made you choose them?

If you’re thinking about renovations, speak to the building experts first.

Some may warn you about ‘over-capitalising’ – which is code for ‘you’re not going to increase the value of the property by the amount you’re spending’. It’s good advice, although it depends on your intentions for the property.

It also pays to speak to an expert about the most effective way to finance renovations – there are lots of options.

Let us know if you need a hand.

Are you too old to get a home loan?

Not necessarily, but if you're over 40 or so, the bank will want you to have an exit strategy.

An exit strategy is basically a backup plan to give the lender assurance you'll be able to pay back the entire loan by the end of the loan term – usually 30 years.

And if you're taking out a home loan later in life, the lender will want to understand how you'll be able to pay back the loan once you stop working.

Possible exit strategies include:
- Selling an investment
- Downsizing the property
- Using superannuation
- Relying on a passive income source

So, if you're worried you're too old to secure finance, speak to us to understand your options. Where there's a will, there's a way!

Is your home loan with an ethical lender?

There's no official definition on what constitutes an 'ethical lender', but as a rule it means a lender that doesn't invest in certain industries that may damage the environment or negatively impact people.

Get in touch to find out your options when it comes to securing a competitive home loan that aligns with your values.

If you're running a fairly new business and are keen to buy a home of your own, you may be feeling like the banks either don't want to talk to you or that they simply won't understand your income.

In an ideal world, you'd be able to provide two years worth of tax returns, however there are always exceptions.

Speak to us to get a clearer understanding of your options.

People are often surprised to hear we don’t charge a fee to help them find the right loan product. Instead, we’re paid a commission by the lender.

It's our job to be across thousands of loan products and to scour the market to find you one that:

- Suits your needs now and into the future
- You have a good chance of being approved for
- Will be processed within the timeframes you require.

And to address the elephant in the room: these commissions are more-or-less the same amongst lenders and in no way influences which solutions we present to you.

Get in touch to get started.

Buying a home will be one of the biggest purchases you'll ever make. And choosing the right loan option will be up there as one of biggest financial decisions.

Most Australians (70% in fact) use a broker to choose and apply for their home loan.

If you're planning to get into a home of your own this year, get in touch to explore your options.

If you're thinking about investing in property, you may have come across the term 'cross-collateralisation'.

What it means is that you use more than one property as security for your mortgage, instead of the usual one property (i.e. the property that you're buying).

What this could look like, as an example, is if you owned your $1M home outright (congratulations!) and you wanted to buy a $500k investment property, but didn't have the 20% cash deposit, you could offer your $1M home as security.

This would mean you'd be borrowing $500k and that this loan would be secured against two properties worth $1.5M in total, meaning you wouldn't need to pay lenders mortgage insurance.

Like anything, there are pros and cons to this approach. Get in touch for help understanding the risks and how to optimise your lending products.

Applying for a home loan can feel overwhelming, but don't worry, we've got your back.

We've seen firsthand the common mistakes people make when applying for a home loan (without a trusted broker on their team), and we're here to help you avoid them.

Here's what NOT to do:

We're here to help guide you through the home loan application process. Get in touch to make your homeownership dreams a reality.

If you have big plans to build a home of your own, construction loans can help you get there.

Construction loans are a tailor-made solution for building your own home, designed to free up cash.

Unlike a traditional home loan, your finance gets released as progress payments for completed work.

And, as a bit of a bonus, while the build is underway, you'll only need to pay interest (not the principal).

Get in touch to find out how to fund your dream build.

Let's celebrate your money wins!

Big or small, it's important to acknowledge what you're doing to secure a stronger financial future.

It could be as simple as finally cancelling one of your five streaming subscriptions, or hitting your one month milestone of not using UberEats!

Comment one of your recent money wins 🎉💰

Consolidating your debts – or rolling them up into one – can make things much more manageable, and can even reduce the amount of interest you need to pay.

Get in touch if you're feeling your debts are getting the better of you.

What would it look like to navigate the car loan process like a boss?

Here's what you could do:
- Refuse to be penalised for paying your loan early
- Insist on a competitive interest rate
- Demand options for extra payments
- Command flexibility in the loan term
- Expect a quick turnaround time
- Reject unnecessary fees

Not every car loan measures up.

Consult us to cut through the noise and find a deal that works for you.

Reach out now.

💝 Happy Mother's Day to all the Mums and mother figures out there and a special thought for those who are yet to become mums.

Your impact is immeasurable. Thank you for all that you do 💐

Ever noticed how those online 'borrowing power' calculators ask how many dependents you have?

This is because caring for children will impact how much the banks are willing to lend you.

Roughly speaking, each child you have under your care will reduce your borrowing capacity by $70k.

Get in touch if you'd like help understanding what size loan you might qualify for.

Did you know a takeaway coffee every workday adds up to about $1k/year.

Great news is we have some better ways to save thousands every year, without giving up your caffeine fix.

Ask us how.⠀⠀⠀⠀⠀⠀⠀⠀⠀

Leveraging your equity to build your property portfolio certainly sounds appealing.

After all, who wouldn't want to buy investment properties using the equity they've built up in their home - rather than having to save up the cash for a new home loan deposit?

The key to successful property investing is making sure your loans are set up properly at the outset. Having the right structure in place is everything.

Contact us to explore your options.

Here's how long you might be waiting to have your new car delivered!

Best to start planning ahead of time.

Get in touch to get the wheels in motion. Pun intended 🙊

Great news, folks! 🎉 The Reserve Bank of Australia has once again decided to keep the cash rate steady at 4.35%. While we may have to wait a bit longer for any rate drops, it's still a positive step forward.

For those diving into the exciting journey of buying their first home, this news is a win! It gives you a clearer picture of budgeting for your deposit and loan repayments. Do you have any questions or need guidance on your options? Don't hesitate to drop us a message. We're here to support you every step of the way! 🏡💼

Your credit score exists to give banks an idea of how you manage your debts and financial obligations.

When it comes to applying for finance, lenders need to make a decision about whether they can rely on you to pay them back - and your credit score will give them a good indication.

You can keep your credit file healthy by paying your bills – including credit cards – on time. You also want to keep applications for credit to a minimum, because you don't want lenders thinking you're racking up debt left, right and centre.

When was the last time you accessed your own credit file? Ask us how.