Mortgage Broking & Lending

Mortgage Broking Definitions Page

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‘Honeymoon’ rates

Mortgage Broking
Many loans have a ‘honeymoon’ period in the early months of a…
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‘Low doc’ loan

Mortgage Broking
A form of loan that does not require high levels of evidence…
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AAPR (also known as comparison rate)

Mortgage Broking
AAPR stands for Average Annualised Percentage Rate. Introduced in 2003, the AAPR…
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AFCA (Australian Financial Complaints Authority)

Lending
an unbiased body that deals with complaints in relation to the financial…
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ANZ

Lending
Australia and New Zealand (Banking Group Limited) is considered to be one…
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APRA

Lending
The Australian Prudential Regulation Authority is an unbiased body that oversees banks,…
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Asset

Lending
An item or property that is owned by you or your company,…
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Basic or ‘no frills’ loans

Mortgage Broking
A basic loan is a form of ‘discount’ loan that has a…
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Basic variable rate loans

Lending
as it carries cheaper rates, this loan is the no frills option…
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Big4 banks

Lending
refers to the four largest banks currently operating in Australia which include:…
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Borrowing costs

Lending
expenses accrued or charged after borrowing a sum of money.
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Break costs (also known as an exit fee)

Mortgage Broking
The break cost is the fee if you pay off a fixed…
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Bridging finance

Mortgage Broking
Bridging finance is a short term loan designed to aid buyers in…
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Bridging loan

Lending
a short term loan that you use between buying a new property…
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Budget

Lending
a simple yet useful and important tool or list that compares expenses…
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Business loan

Lending
a sum of money that is borrowed to start or improve an…
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Capital

Lending
wealth in the form of money or other assets owned by you,…
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Capital gain

Lending
a profit from the sale of your property or investment.
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Capital gains tax

Mortgage Broking
The amount made from the sale of assets is called capital gain…
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Capped rate loan

Mortgage Broking
A capped rate loan means that the loan will never exceed a…
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