The Active Home Loan Manager

How does the lender calculate and charge the interest I pay?

Lenders in Australia calculate and accrue interest charges every day, for instance an advertised interest rate of 5% per annum is actually charged at 5 divided by 365 (or 366 in 2016) per day. These daily interest accruals are added up once a month and the total monthly amount is charged to you, usually via

What different types of home loans are available?

You get to choose from a range of loan types offered by Australia’s major or specialist lenders through uno. This includes interest-only loans, low-doc loans, fixed rate and variable rates, loans for first home buyers, as well as loans for investment properties. uno offers a range of loans for investors, first home buyers or those

How does my credit score affect my home loan?

Australian credit history files are maintained by VEDA. On request, VEDA will provide a copy of your credit history to yourself or any third party you authorise. The credit history report lists all credit history enquiries, including those from financial institutions, telco companies and others. The credit history report will list any situations where a formal

How much will the bank lend me?

How much a lender will let you borrow varies from bank to bank, but it will broadly depend on your income, living expenses, existing loan repayments as well as a few other variables. You can use uno’s borrowing power calculator here. How much you can put down as a deposit will have a major impact

Why wouldn’t I just go direct to the bank?

You can approach a bank directly if you wish but uno gives you access to a large number of major and specialist home loan lender in Australia. Through uno, you do your own research, save your personal information and build a shortlist of home loans from which to choose, and it’s all possible on any

When is the right time to start searching for the right loan?

We don’t think it’s ever too early to start looking for a better home loan deal! It’s certainly an advantage to find the most suitable home loan before you start looking to buy a property. Not only will you know how much you can borrow, you will have the confidence to make an offer when

How can I pay down my home loan faster?

The simplest way to quickly pay down your home loan is to allocate as much income as you can to your mortgage. It sounds easy enough but there are other steps you might need to take first: make lifestyle changes to reduce your monthly expenses; consolidate your other debts (perhaps through refinancing), especially those carrying

Can uno provide home loans for unique financial circumstances?

Yes, uno is accredited with a number of lenders, which means we can offer advice on a range of home loan and credit products. This includes no deposit home loans, guarantor loans, low documentation loans, non-genuine savings loans, fixed interest rates with offset account loans, small apartment home loans, vacant land and rural property home

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