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A closer look at a Certificate of Currency
When applying for a loan, your Bank or Lender will ask you for a Certificate of Currency. To many Australians, it seems to be just another confusing property market jargon term, but it is a document that can make or break your home loan. It’s, in fact, important and will be highly beneficial if you have one.
A Certificate of Currency is a document issued by your insurance provider that confirms your property is insured. More specifically, it should contain the following:
Why you need one
A Certificate of Currency confirms that your property is correctly insured. This is necessary in case your property gets damaged by an unexpected event, for example by theft or fire. Like with any insurance, we hope you’ll never need it, but this way we can all be sure to minimise the impact in the case such an unfortunate event takes place.
Requesting your Certificate of Currency
A certificate of currency can be obtained from your insurance company free of charge. Simply call up your insurance provider and request that they email it over to you. This is usually able to be sent to you on the same day you request it.
There are a couple of things to keep in mind when you obtain your Certificate of Currency.
Once this is all in place, you’re a step closer to settling your home loan and owning your own property!
Mortgage House
At Mortgage House, we’re no strangers to the homeowner’s journey. It’s a long (but rewarding) one.
But don’t worry, we can help with that.
If you’re thinking of buying a home, you can contact us for advice about the best options for you when it comes to your mortgage.Â