RBA Announcement – July 2021
The first RBA board meeting of the new financial year was one of the most eagerly anticipated in some time. Not because of what might happen with interest rates – which incidentally were left on hold at 0.1% for the eighth consecutive month – but because the RBA was expected to begin winding back parts […]
Introduction To The Family Home Guarantee
The year has been a tough one so far for first home buyers trying to get into the property market, with asking prices headed for double digit growth in multiple capital city and regional markets around Australia according to Propertyology. If you are a single income loan applicant, it has been even tougher, so imagine […]
How Mortgage Brokers Can Screw You Over
If you want to build a property portfolio to get you where you need to be, you need to make sure everyone you are relying on is on the same page as you. Your accountant, legal team, buyer’s agent and, most importantly when it comes to loans, your mortgage broker. Your average mortgage brokers out […]
RBA Cash Rate Remains On Hold At 0.1%
The RBA has left its cash rate on hold at 0.1% during its May meeting today which came as no surprise to analysts. The decision marked the sixth straight month the rate has remained unchanged, after Australia’s central bank lowered it to 0.1% in November 2020. RBA Governor Philip Lowe has repeatedly stated in recent […]
Eligibility Criteria
Thinking of applying for a home loan? Lenders have a lot of eligibility criteria that you need to meet before they will lend you money. Here’s what you need to know. Who are you? You will need to be: An Australian citizen, or a permanent resident, or married to one or a temporary resident visa […]
Different Types Of Home Loans Explained
Before you get into individual loan types and their features, you first need to look at what type of overarching loan it is. For example, is it a residential home loan, or is it for a commercial property? Is it for an individual borrower, or for a business? There are so many different loan categories […]
Low rates – what does this mean for you?
The RBA decided to once again leave interest rates on hold at 0.1% at its recent March meeting, which means yet another month at the lowest interest rates ever. In fact, if you have been paying off a mortgage at any stage over the past few years, you have been doing so in a historically […]
Package Loans VS Basic Loans Under Variable Rates
The mortgage market is full of options as lenders try to attract business in a competitive landscape.Getting advice from a mortgage broker can be a great way to get an idea of what type of home loan will suit your situation, but it’s also good to educate yourself on the types of products that are […]
Refinance Cash Rebates – What You Need to Know
A lot of banks seem to be offering cash incentives at the moment to tempt you to jump ship from your current lender and refinance with them. Sums of between $1000 and $4000 are being offered up for borrowers that could use some extra funds in their account, with the added bonus of switching to […]
Home Expenditure Measure (HEM) explained
There have been stories emerging in recent years about banks getting a little too familiar when assessing home loan applications. “Why did you spend all that money on duty free at the airport a few months back?”“That was a big bill at that fancy restaurant, how often do you dine out at the top end […]
