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Kanova Loans, Banfield Drive, Oran Park (2026)

03/08/2025

Learn how SMSF loans work, who’s involved, setup rules, and how Kanova Loans helps secure property through your super.

02/07/2025

Learn how to use home equity, how much you can borrow, what it’s used for, and tax tips. Smart advice from Kanova Loans to plan better.

02/07/2025

Learn how credit scores affect loan approval — from credit cards to job changes. Get smart tips from Kanova Loans to boost serviceability.

15/03/2024

What to expect from property in 2024

One of Australia’s leading property economists, Ray White Group Chief Economist Nerida Conisbee, has given 10 insights about what to expect from the property market this year.

Price growth will continue. Market forces will lead to further price growth in 2024, according to Ms Conisbee. “At this point, housing supply remains extremely low and many people that would be new home buyers are being pushed into the established market. Big jumps in rents are pushing more first home buyers into the market and population growth is continuing to be strong,” she said.

The luxury apartment market will soar. “Demand is increasing for much larger, higher quality, more expensive developments,” Ms Conisbee said. “This year, fewer apartments being built, growing population and a desire to live in some of Australia’s most sought after inner urban areas will lead to a boom in luxury apartment demand.”

Buyers will snap up seachange homes. Ms Conisbee said some beachside holiday destinations are underpriced, because a lot of people who bought during the pandemic have sold in recent times, driving down prices. “While prices are much more affordable, it may not last long with housing shortages a problem in many of these highly desirable parts of the country,” she said.

Interest rates will peak. “Inflation remains persistent but is starting to come down. This means we may see another rate rise in 2024, however it does look like interest rates are either at peak, or very close,” Ms Conisbee said. “While it is good news, the bad news is that we are unlikely to see a rate cut until late 2024 or early 2025.”

Housing supply will remain a hot issue. Ms Conisbee said Australia is “a world leader in not building enough homes and this is the key reason why housing is so expensive.” As a result, supply will remain a major policy focus in 2024.

Rental growth will slow. “With household size increasing again, we are starting to see a stabilisation in rents, however it will take some time for new home development to catch up,” Ms Conisbee said.

Investor numbers will remain low. One reason rents have been rising is because the vacancy rate is so low. Ms Conisbee said rental supply will remain an issue this year, due to limited investor activity. “Interest rates are too high and there are a lot of impediments to owning a rental property relative to other investments. While this should improve marginally in 2024, there will remain a shortage,” she said.

The investor landscape will change. With fewer people in the office, commercial property has become less desirable, which has driven some institutional investors to the residential sector. “Spanning build to rent, retirement living, aged care and land lease, the ‘living’ sectors are hot property, driven by a shortage of homes and population growth. In the next 12 months and beyond, your landlord may be the company that previously owned the office building you worked in or the shopping centre you visited on the weekend,” Ms Conisbee said.

More people will live alone. Ms Conisbee said long-term social and demographic shifts are leading to an increase in the number of people living alone. “Changing lifestyle preferences, delayed marriage and an ageing population are contributing factors,” she said.

Homes will become greener. Environmentally friendly homes will become more popular, according to Ms Conisbee. That’s because they’re not only cheaper to run but safer, as they’re more likely to be cooler in summer and (for those who cook with electricity rather than gas) provide better respiratory and cardiovascular health outcomes.

22/11/2023

November cash rate decision: 8 ways to strengthen your loan application
Today the Reserve Bank of Australia announced it would increase the nation’s cash rate by .25 percentage points to 4.35%.

This is the first increase since June and will impact not only homeowners with variable interest rates or fixed loans nearing their end, but also people planning on buying. Despite this, if you’re now looking to buy, or even refinance your existing loan, there are a few ways to increase the chances of your loan application being approved.

Keep in mind the things that lenders consider before approving your application. These include your credit report, existing debts, income, assets and spending. This helps them form an idea of your ‘creditworthiness’ and whether you could comfortably meet repayments. That said, there are ways to make yourself more attractive to lenders.

Some quick tips to improve your creditworthiness when applying for a loan.

1. Check your credit report - You can get a free copy of your credit report. It is a good idea to check there are no mistakes and all listed debts are correct. If anything is incorrect, you can request them to be fixed by the credit reporter. Your broker can help you get your credit report.

2. Review your spending - Have a look through your bank statements to see where your money has been going. If there are unused subscriptions or unnecessary spending, it is a good idea to unsubscribe or cut them out in the future to show you are responsible with your spending. It can also help to create a budget to see areas for improvement.

3. Pay off debt - Make sure you keep up with any debt repayments and consider making additional repayments where you can. This can help you save on interest and also show you are responsible with debts. It is also a good idea to pay off any buy-now-pay-later debts to reduce the amount of credit you are owing.

4. Consolidate debts - It can be worth reviewing your debts to see if consolidating them could save you money. This can include home loan, car loan, credit cards and personal loans.

5. Eliminate extra credit - If you have credit cards in your name that you are not using, it can be helpful to cancel them. This is because the lender will look at the amount of credit you can access, which can reduce the amount they are willing to lend you.

6. Space out credit applications - It is a good idea to spread out applications for credit where possible, particularly if you are rejected for a loan. When lenders see multiple recent applications, they may be more wary about lending to you.

7. Demonstrate genuine savings - Lenders look at how well you can save money over time. This means that cash gifts or inheritance, while helpful to boost your deposit, won’t be considered toward the lender’s assessment of your saving habits. Do your best to make regular deposits into your bank account to show you can save.

8. Work with a broker - Okay, this one is obviously a self plug. However, an experienced broker knows lenders’ policies and what they look for in an application, and can help you not only apply for a suitable loan but also help you put your best foot forward.

Whether you are looking to purchase your first home, next home, use equity to purchase an investment property or refinance your home loan, your Loan Market broker can help you find the right solution and make your application as solid as possible.

The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.

25/09/2023

5 important considerations before refinancing
Following its meeting today, the Reserve Bank of Australia (RBA) chose to hold the cash rate at 4.1%. This is the third month in a row the Bank chose to hold the cash rate following positive signs in inflationary data.

With the cash rate currently four percentage points higher than it was at the beginning of 2022, combined with a higher cost of living, many homeowners have lighter wallets and smaller shopping trolleys. If you have a home loan, it is likely you have experienced an increase in repayments, or will soon when your fixed-rate term expires. Because of this, Australia has seen a dramatic increase in refinancing this year.

Something to keep in mind when looking to refinance your home loan is lenders vary greatly in what they can offer. You may want to find the lowest interest rate possible, however there are a number of other factors to consider that could save you time and money.

5 things to keep in mind before refinancing
Some areas lenders can vary greatly include:

Serviceability criteria. Each lender has its own criteria to determine whether you can easily make the repayments. This can impact the amount it may be willing to lend you and whether you qualify for a loan in the first place.
Fee differences. Loans cost more than just the interest rate. Some charge annual fees, fees for features and even things like lenders mortgage insurance (LMI) can come at a different cost depending on the lender.
Turnaround times. Some lenders can approve loans much faster than others. It’s important to factor in the approval times when changing lenders and to factor potential extra time into your calculations to determine whether it impacts your cost saving compared to another lender that may be faster.
Lending criteria. Some lending criteria are the same across lenders - such as being at least 18 years old and your resident status. However, other criteria vary depending on the lender, such as your employment (including if you are self-employed) and the details of the property (some may have restrictions on building types or locations).
Promotions. Depending on your situation, there may be promotions available that you could qualify for. For example, some lenders offer “green loans” if a home fulfils certain sustainable, energy-efficient criteria. Others offer special deals for people in certain professions including the medical industry.
On top of this, you may want to structure your loan differently to better suit your current circumstances or goals. The structure of your loan can make a difference to your repayments, interest you pay and time it will take to pay off.

Your Loan Market broker works with lenders day in, day out, and has a good understanding of how long approvals are taking and how they vary in their policies and offerings. If you’re considering refinancing, arrange a free, no-obligation chat.

05/09/2023

RBA interest rates: official cash rate left unchanged by Reserve Bank of Australia at 4.1% for a third month, the highest since mid-2012, at its September board meeting on Tuesday.

04/09/2023

Govt housing incentive reaches milestone
The federal government's Home Guarantee Scheme (HGS) has now helped 100,000 people buy or build their own home since being launched in 2020.

The National Housing Finance and Investment Corporation, which administers the HGS, said 34% of the 100,000 people who’d been supported had been regional Australians, while 20% had been key workers such as teachers, nurses and social workers.

The HGS includes three programs:

First Home Guarantee.
Family Home Guarantee.
Regional First Home Buyer Guarantee.
First Home Guarantee
Under the First Home Guarantee, eligible first home buyers can purchase a new or existing home with a 5% deposit without having to pay lenders mortgage insurance (LMI).

Income restrictions apply – you can't earn more than $125,000 if you're buying as an individual or $200,000 as a couple. Price caps also apply, which range from $400,000 on Christmas Island and Cocos (Keeling) Islands to $900,000 in Sydney.

Regional First Home Buyer Guarantee
The Regional First Home Buyer Guarantee is very similar to the First Home Guarantee with one key difference – applicants must buy in a regional area and must have lived there (or in an adjacent regional area) for the previous 12 months.

The same income restrictions apply. There are also price caps, which range from $400,000 on Christmas Island and Cocos (Keeling) Islands to $900,000 in regional New South Wales.

Family Home Guarantee
Under the Family Home Guarantee, eligible single parents with at least one dependent child can buy a new or existing home with a 2% deposit without paying LMI.

You don’t need to be a first home buyer to participate in this program. But there is an income cap of $125,000 and the same property price caps mentioned earlier.

Proposed changes
The government recently announced it would expand the eligibility criteria of the HGS from 1 July 2023, although these changes had not been legislated at the time of publication.

Under the proposed changes, all three programs would become available to permanent residents.

For the First Home Guarantee and Regional First Home Buyer Guarantee:

Non-first home buyers would be able to apply if they hadn't owned a property in Australia for the past 10 years.
Friends, siblings, and other family members would be able to make joint applications.

For the Family Home Guarantee:

Eligibility would be expanded from natural or adoptive parents to legal guardians such as aunts, uncles and grandparents.
The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.

POSTED ON JULY 27 2023

04/09/2023

August cash rate: are pre-approvals worthwhile in a changing-rate environment?
The Reserve Bank of Australia (RBA) chose to hold the cash rate at 4.1% in August. This is the second month in a row the Bank chose to hold the cash rate following positive signs in inflationary data.

With the uncertainty around the future of interest rates - whether they will keep increasing or have reached their peak - we are regularly asked about limitations around pre-approvals and whether they are worth getting.

In short, pre-approvals are a good idea if you are serious about buying property. Here is why.

Pre-approvals:

give you confidence a lender is satisfied with your current situation to lend you the money you need.
provide an understanding of how much you may be able to borrow.
show real estate agents and vendors you are a serious buyer and ready to purchase.
can speed up the process of getting your loan approval as the lender already has your information to make the final assessment.
remove some of the stress when your offer has been accepted as you have already completed a lot of the paperwork and submitted key documentation.
In saying this, there are some limitations to pre-approvals to be aware of. A pre-approval is a good indication of your borrowing power and that the lender is happy to lend to you at that time. However, it is conditional, based on your circumstances and the interest-rate environment at the time of the application. This means if anything changes between the time you received your pre-approval - either within your circumstances or if there have been significant changes with interest rates - your final application can be impacted. Small changes to interest rate is unlikely to impact your pre-approval. That said, we will work with you to do everything in our power to get your finances across the line.

How long does a pre-approval last?
The timeframe a pre-approval is valid for depends on the lender. In general, it is around three months, but can be up to six. However, if your circumstances change or there is a change in the cash rate, it is a good idea to reach out to your broker for a chat to determine if your borrowing power could have been impacted.

If your pre-approval is approaching its expiration, speak to your broker to discuss your options including applying for an extension or a new pre-approved product.

Making an offer
If you find property you would like to make an offer on, reach out to your broker to discuss whether there could have been any changes to your borrowing power and the range you may want to offer within. Your broker can also determine whether the property you are interested in falls within the lender’s criteria and provide a free property report that shows recent similar transactions nearby.

It is a good idea to include a finance clause in your offer - usually around 10 days. If your offer is accepted, speak to your conveyancer or solicitor to ensure you are happy with the contract and any conditions, such as building and pest inspections, that are included.

Keep in mind if you are bidding at an auction, your offer is unconditional and binding with no opportunity for a finance clause.

If you have any questions - reach out to your Loan Market broker for a chat. And if you’re thinking about buying property, make an appointment to get your free property-buying plan in place.

The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.

Kanova Loans

03/08/2025

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22/11/2023

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