How does a guarantor mortgage work?

A guarantor home loan allows family members to use their home equity as security for your loan. If you cannot repay the loan, your guarantor then becomes responsible for making the monthly payments. 

Average mortgage age in Australia

If the average Australian first home buyer’s age is between 25 and 36 years old, this would make the average age to pay off a mortgage in Australia between 50 and 66 years.

How to purchase property as a couple but keep one name on the property title

Some couples may want to buy a property together, but keep one borrower’s name off the property title to protect assets or reduce taxes. Although it may seem an uncommon structure, several lenders allow you to jointly apply for a mortgage with only one name on the title.

Understanding the difference between super accumulation vs pension phase

During your working life, you accumulate funds in your superannuation account, which is called the accumulation phase. As you get closer to retirement, your super fund may enter the pension phase or retirement phase, where you can use your saved money to support your lifestyle.

Can you insure a car that’s been written off?

If you’re ever in a car accident where your car gets badly damaged, your insurer may consider writing off your vehicle. This means that instead of getting your car repaired and back on the road, you’ll receive an insurance payout. But if the car is still repairable, you may be able to re-register and insure the written-off car again in the future.  

Industry vs retail super funds: what’s the difference?

You can build up a comfortable sum to meet your living expenses after retirement by investing regularly in a superannuation fund while you’re earning an income. This could be an industry super fund or a retail super fund, among other superannuation options. But what’s the difference between industry and retail super funds, and how can you best compare your super fund options?

Your SMSF electronic service address

An electronic service address (ESA) allows your employer to digitally transfer money to your self-managed super fund (SMSF). This helps ensure your super contributions reach the correct destination and that the Australian Taxation Office (ATO) is kept informed.

Novated lease vs. car loan – which one to choose?

One of the most common ways to finance a car purchase is to take out a car loan. But if you can arrange it with your employer, there is another option; a novated lease.

Do phone plans affect your credit score?

How do phone plans and non-payment of phone bills affect your credit score? Learn more about situations to avoid so your phone plan can affect your credit score positively.

What are the different types of credit scores?

When you apply for a loan or a credit card, the lender will check for your credit score. There are different kinds of credit reporting agencies, each with their own types of credit scores and systems of collating your financial data.