Should I fix my rate?
A number of banks have begun to discount their fixed rate home loans. First NAB, then Westpac lowered their rates recently and each of the banks currently has at least one fixed loan offering that is cheaper than their variable rate mortgages. Paying even a small amount less each month will be tempting for […]
Double a rate cut with a refinance
Australians have become more engaged with their home loan deals over the last couple of years. They’ve had to, because the RBA has engaged in the steepest cash rate hiking cycle on record. Borrowers have watched as the official rate went from a historically low 0.1% to where it sits now at 4.35%. Over […]
When financing focus first on the end goal
A lot of people want to get into investing because they think “I should probably accumulate some wealth”. But apart from a loose idea that property performs well as an asset class, they really aren’t sure what they’re trying to achieve. You wouldn’t leave the house in the morning without first knowing where you […]
Cashback offers return for refinancers
When competition between banks was rife post-Covid, many were offering cashback loan deals for those who refinanced. Put simply, banks would ‘gift’ you between $2000 and $4000 if you switched from another bank and borrowed with them instead. But the deals dried up and were mostly gone from the market by the beginning of […]
Importance of loan approval times
Picture this, you’ve found the perfect property to invest or live in, it’s well within your budget, you have your finance pre-approved, so you go ahead and make an offer. The vendors accept and you are over the moon. You pay your initial contract deposit and then it’s a matter of waiting the 6 […]
Five ways to save on mortgage repayments
It feels like a lifetime. A mortgage, that is. And that’s what ‘mortgage’ actually means in latin… a ‘death pledge’. Basically either the debt, or you, dies first. To think that you’re stuck paying interest to a bank for 25 or 30 years…it’s depressing. More if you need to refinance to renovate or deal […]
Upfront costs of buying a home
If you are planning to buy a property, you may get a rude shock when you find out how expensive all the little associated costs that come with it are. Especially if this is your first property, or it’s been a while since you last bought. So, when the time comes to apply for […]
A guide to SMSF lending
Aussies are more engaged with their superannuation than ever before and we have good reason to be. Big events like the GFC saw fortunes wiped from our retirement savings; while periods of low-interest rates and several property booms in different markets over the past decade showed that we may need to do more than […]
What you need to know about self-employed home loans
Risk is a huge consideration when it comes to banks and responsible lending. When you are applying for a loan with a bank, they will want to minimize their exposure to risk in a whole number of ways. The main one is to ensure you have a reliable income with which you can make […]
Homeownership vs renting
Times have been tough for tenants in recent times as vacancy rates have tightened to record lows and asking rents have risen by double-digit percentages for consecutive years. But homeowners still paying off their mortgages have had their challenges. The RBA cash rate has risen from 0.1% to 4.35% and banks have hiked interest […]
