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Refinancing could benefit borrowers by allowing them to secure lower interest rates which means lower monthly payments. Refinancing also means you could pay off your mortgage in less time, by reducing the number of years. Although there are high benefits to refinancing, there would be costs involved...

With regards to understanding home loans, the term LVR is often used. LVR stands for 'Loan to Value Ratio' and can be described as the amount of money you borrow for a home loan, compared to the value of the property, which is expressed as...

Lenders mortgage insurance (LMI) is an insurance required by borrowers to take out if they have less than 20% deposit for a home they wish to purchase. This means that achieving the dream of homeownership with a small deposit is possible. LMI is paid by the...