By Shane | Uncategorized
On the first Tuesday of every month (except January) the Reserve Bank of Australia meet to make a decision on the cash rate. Depending on the economic conditions, the RBA may increase, decrease or leave the cash rate unchanged. Changes to the cash rate will affect the interest rate that banks and lenders will offer to borrowers.Continue reading
By Shane | Uncategorized
A family guarantor can help you if you’re not able to save up a deposit or wish to avoid paying Lender’s Mortgage Insurance (LMI). A guarantor is someone who assumes the responsibility of the paying off the loan if you’re no longer able to meet their financial commitment. Mostly, parents assist as their children in buying their own home as a family guarantor.Continue reading
By Shane | Uncategorized
First time home buyers almost always make a few mistakes when buying their home. Perhaps, they pay too much, choose the wrong type of mortgage, or neglect to budget for needed home improvements. Working with a trustworthy mortgage broker can help prevent such mistakes but home buyers need to take responsibility for their budgets and choices. Before buying a home, home buyers need to develop a short-term and long-term perspective on their purchase. Here are the critical mistakes you should avoid not only to make your purchase easy but also to save thousands of dollars.Continue reading
By Shane | Uncategorized
Finding your dream home is an exciting time and buying a new home may be the largest financial commitment of your life. Therefore, it is important to ensure that you are purchasing a quality property with no hidden surprises. Many homes sold in Australia have significant hidden faults leading to unplanned repair costs for unwary buyers. Buying a property with serious faults can costs you thousands of dollars to repair the damages, plus the added time and stress involved in organising repairs.Continue reading
By Shane | Uncategorized
When you’re applying for a home loan, some lenders will give you the option of having an offset account. This is a transaction account you can link to your home loan that may be able to help reduce the interest you pay on your home loan. The balance of the offset transaction account is effectively offset daily against your outstanding home loan balance.Continue reading
By Shane | Uncategorized
The first step in buying your first home is saving for your deposit. Saving for the deposit of your first home is probably one of the most rewarding, fulfilling, and uplifting financial goals that you’ll ever work on. With the cost of property these days, most people take a long time to save that initial deposit. It also requires a lot of motivation and a lot of focus to actually get there. Hopefully you have the motivation, focus, and determination that will help you get you where you want to be as quickly as possible.Continue reading
Many things about home renovation are flexible. You can always change your paint colours or expand your bedroom to give space for your shelves and couches, and one thing is certain- you’re going to need money. All of your renovation ideas will not be possible without cold hard cash….Continue reading
By Shane | Uncategorized
Buying your first home is one of the most significant, exciting, (…and a little bit stressful) decisions you will make. Since it’s your first home, probabilities are you know very little about what needs to be done. Being unprepared in buying your first home can lead to unexpected costs and actually have you struggling to piece things together at the last minute. To help you take some of the stress out, here are seven things first home buyers need to know.Continue reading
By Shane | Uncategorized
Buying your first property can be daunting. Especially if you live in Sydney and are witnessing property prices continue to rocket skywards. On the surface, saving a deposit for your first home can seem an impossible task, so how is it that Nina could buy her first property with ALMOST zero deposit?
By Shane | Uncategorized
Thinking about refinancing? For some, it can be a difficult choice. When you see a better rate available, that doesn’t necessarily mean you’ll end up saving money by switching. However, you can end up saving thousands, if not tens of thousands of dollars, if you refinance for the right reasons and at the right time. If you’re unsatisfied with your rates or looking for a better customer service, you’re definitely not alone for there are always plenty of borrowers looking for a better deal.Continue reading