New year is about fresh starts. With 2025 fast approaching, taking the time now to prepare how you will sieve through the opportunities that will present itself so that you can land a smooth and fine finish for 2025 is crucial. This holiday season may have brought extra expenses, but it's also a great time to start building better financial habits for the years ahead. Continue reading to see how you can prepare for 2025.
Review your finances.
The first step is to find out how you stand today. How much have you saved for 2024? Take stock of your income, expenses and savings. Have you created a budget so that you can manage future home loan repayments? Have you paid down any outstanding debs such as credit cards and personal loans to improve your financial position?
Set clear goals to build your deposit.
Start small, think big. Saving for a deposit may be one of the most challenging on achieving your home loan goals. Do you have a dedicated savings account for your deposit? You can automate this savings at frequency suited to you. Aim for 20% deposit so that you do not have to pay lenders mortgage insurance (LMI).
Keep an eye on all your financial commitments. .
Are you meeting your repayment and financial obligation: rent, utility bills, car loans, personal loans and other debt commitment? Check your credit report and make sure that it is accurate. You can request a copy of your credit report though Equifax, Experian, Illion.
Consider extra repayments as it can shorten your repayment period and possible reduce total interest paid.
Have you used a mortgage broker before?
Yes I have. I will be using a mortgage broker again.
Yes I have. I will not be using a mortgage broker again.
No I have not. I will be using a mortgage broker.
No I have not. I will not be using a mortgage broker.
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Development finance
Residential home loans including refinance
Contact us today and let's discuss your home loan needs.
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