After two rounds of official interest rate cuts by the Reserve Bank in the space of 2 months, the big four banks have managed to come up with basic standard variable mortgage interest rates within 6 basis points (0.06%) of each other.Read More
The mortgage market in Australia can be very complicated. With that in mind, here are the top 7 reasons to use a mortgage broker next time you want to find a new home loan.
Most mortgage brokers have access to a huge range of lenders. They should be able to provide you with a huge choice of rates and mortgage options. With partnerships in a vast array of lending institutions, including banks, credit unions, trusts, national and regional lenders, and non-traditional lenders, a good broker will be able to help design the perfect mortgage for you.Read More
More and more Australians are building wealth through the property. According to the Australian Taxation Office (ATO), there are over 1.7 million property investors in Australia. Just over 25% of these investors own more than one investment property.
The largest group of property investors are not high income earners as many may assume. The vast majority fall into the $30,000 to $75,000 p.a. income bracket.Read More
Borrowers are set to receive a boost to their borrowing capacity in the order of $80,000 to $100,000 thanks to a combination of changes to lending standards and interest rate cuts, new modelling shows.
Under the proposed relaxation of loan serviceability rules flagged by the Australian Prudential Regulation Authority (APRA) last week, borrowers will no longer be assessed to see if they can repay their loans against an interest rate of 7.25%.Read More
One of the common problems that home buyers face is not having enough cash to guarantee for their purchase.
Sometimes you can’t unlock the equity in an existing asset such as your home or investment property. Sometimes times you don’t want to use extra / bridging finance such as when you’re trying to sell and buy at the same time.
Sometimes you aren’t able to get the funds together quickly enough to secure the new property. This often happens when you want to go to auction or when you have to act quickly on a private treaty sale.Read More
Do you want some quick ways to save a lot of money?
How often do you check your accounts and credit card statements?
Do you re-assess your expenses regularly?
Tax time is always a good time of year to get your finances sorted as it’s when we all go through the past year’s expenses. If you’re looking to buy a new property, or just looking at saving some dollars throughout the year, it is a good idea to go through your current finances and expenses to see where you can save a few thousand dollars a year.Read More