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Understanding your objectives is key to finding the right investment property. The actual property itself is never the end goal when it comes to investment – it’s the financial element that you’re really concerned about.

First and foremost, decide what your end goal is and then create a plan to get there within a realistic timeframe. Remember to review this plan regularly as your situation and the property market changes.

Refinancing is essentially moving from your existing home loan to a new home loan. The most common reasons people refinance are to get better interest rates, access to more or improved loan features, or to consolidate several debts into one mortgage.

When you refinance, you can stay with your current lender – which can reduce hassle if you do all of your banking with the same institution – or switch to a new one.

Once your application is approved, you will receive a letter of offer and contract for the new loan. After signing the contract, you will reach settlement. Your new home loan is then drawn down, which means the funds from your new loan are used to pay off your current home loan.

The Discharge of Mortgage document will be registered with the Land Titles Office for you. Your new lender will lodge a Discharge of Mortgage document with the Land Titles Office. From here you can start making repayments on your new loan. Don’t let the approval process concern you ­– it may sound complicated, but if you’re using a broker it basically happens in the background.

It’s a good idea to review the mortgage market at least once a year, to make sure your home loan is still the best one for your needs. When you do this, consider consulting with a broker so you make an informed decision.

An SMSF is a special type of trust that people can set up to manage their own superannuation. Like a normal super fund, your employer contributions still get paid into the fund and you can make additional contributions as you see fit.

However, unlike a normal super fund, the trustee (either you or your company) has direct control over the assets that your superannuation is invested in.

Many people also use their SMSF to help plan for their retirement and assist with tax planning.

There are 3 major different types of business vehicle finance and business equipment finance. Buy, Hire or Lease. and its best to speak to your accountant before

• Finance Lease - The bank will purchase the asset at your request and rent it back to you over and agreed period. Ownership remains with the bank. One of the major advantages of this is the rental payments are generally tax deductible.
• Commercial Loan - You source and own the asset and the bank provides a loan secured by the asset. Ownership remains with the borrower. The interest on the finance and depreciation of the asset are generally both tax deductible.
• Commercial Hire Purchase - The bank purchases the asset at your request and you buy it from the bank in instalments. This is done until the agreement has been paid when ownership is transferred to you. The interest on the finance and depreciation of the asset are generally both tax deductible.

There are 3 major different types of business vehicle finance and business equipment finance. Buy, Hire or Lease. and its best to speak to your accountant before

• Finance Lease - The bank will purchase the asset at your request and rent it back to you over and agreed period. Ownership remains with the bank. One of the major advantages of this is the rental payments are generally tax deductible.
• Commercial Loan - You source and own the asset and the bank provides a loan secured by the asset. Ownership remains with the borrower. The interest on the finance and depreciation of the asset are generally both tax deductible.
• Commercial Hire Purchase - The bank purchases the asset at your request and you buy it from the bank in instalments. This is done until the agreement has been paid when ownership is transferred to you. The interest on the finance and depreciation of the asset are generally both tax deductible.

There are a number of personal insurances you need to consider when borrowing money and in general, to insure you are protected in the event something happens to your biggest asset... you! Depending on your circumstances you may need one or more of the following:

• Life cover - also known as 'term life insurance' or 'death cover', pays a set amount of money when you die. The money will go to the people you nominate as beneficiaries on your policy.
• Total and permanent disability (TPD) cover - pays a lump sum to assist with rehabilitation and living costs if you are totally and permanently disabled. TPD is often bundled with life cover.
• Trauma cover - provides cover if you are diagnosed with a specified illness or injury. These policies include the major illnesses or injuries that will make a significant impact on your life, such as cancer or a stroke. It is sometimes called 'critical illness cover' or 'recovery insurance'.
• Income protection - replaces the income lost through your inability to work due to injury or sickness.

There are a number of personal insurances you need to consider when borrowing money and in general, to insure you are protected in the event something happens to your biggest asset... you! Depending on your circumstances you may need one or more of the following:

• Life cover - also known as 'term life insurance' or 'death cover', pays a set amount of money when you die. The money will go to the people you nominate as beneficiaries on your policy.
• Total and permanent disability (TPD) cover - pays a lump sum to assist with rehabilitation and living costs if you are totally and permanently disabled. TPD is often bundled with life cover.
• Trauma cover - provides cover if you are diagnosed with a specified illness or injury. These policies include the major illnesses or injuries that will make a significant impact on your life, such as cancer or a stroke. It is sometimes called 'critical illness cover' or 'recovery insurance'.
• Income protection - replaces the income lost through your inability to work due to injury or sickness.

There are a number of personal insurances you need to consider when borrowing money and in general, to insure you are protected in the event something happens to your biggest asset... you! Depending on your circumstances you may need one or more of the following:

• Life cover - also known as 'term life insurance' or 'death cover', pays a set amount of money when you die. The money will go to the people you nominate as beneficiaries on your policy.
• Total and permanent disability (TPD) cover - pays a lump sum to assist with rehabilitation and living costs if you are totally and permanently disabled. TPD is often bundled with life cover.
• Trauma cover - provides cover if you are diagnosed with a specified illness or injury. These policies include the major illnesses or injuries that will make a significant impact on your life, such as cancer or a stroke. It is sometimes called 'critical illness cover' or 'recovery insurance'.
• Income protection - replaces the income lost through your inability to work due to injury or sickness.

Variable loans are loans that are subject to interest rate fluctuations. Whenever your bank increases or decreases interest rates, you will end up either paying more or less for your loan, depending on what the bank has decided to do.

A typical owner-occupied mortgage is taken out over 25 or 30 years, although you can reduce the overall term by making higher or more frequent payments. Mortgages are either based on principal (the amount you borrowed from the bank) and interest (the amount you pay back for having borrowed that money) loan repayments, or interest-only repayments (generally available for 1-5 years for owner occupied loans and 1-10 years for investment loans) where none of the principal component of the loan is paid down.