How Do You Adjust To Comprehensive Credit Reporting?

personOtto Dargan access_timeDecember 13, 2019

Did you know following the introduction of comprehensive credit reporting, your credit score can drop by 22% following just one missed credit card repayment? – even if you’ve never missed any credit card repayments before this. Misconceptions surrounding comprehensive...

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Property Market Update – Sydney Growth Largest Since 1988

personOtto Dargan access_timeDecember 13, 2019

According to CoreLogic’s national Home Value Index, Sydney dwelling values saw the largest increase in a month since 1988, growing by 2.7% in the month ending November. This is the most significant single increase over a month in Sydney prices since 1988. In addition, Melbourne...

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27 Lenders Announced For The First Home Buyer Scheme

personOtto Dargan access_timeDecember 12, 2019

The National Housing Finance And Investment Corporation (NHFIC) has announced its full panel of lenders who’ll be offering the First Home Loan Deposit Scheme. Commonwealth Bank (CBA) joins National Australia Bank (NAB) as the second major participating bank in the government...

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How To Turn Your Deposit Into Genuine Savings?

personOtto Dargan access_timeDecember 2, 2019

Merely having a deposit is not enough! If you are borrowing more than 80% of the property value and you do not have a guarantor, then genuine savings is something that often catches out buyers. It essentially acts as proof that you can handle your money well; i.e....

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NAB In, Westpac Out Of The First Home Buyer Scheme

personOtto Dargan access_timeNovember 27, 2019

The NHFIC announced NAB as the first major bank that will be offering home loans under the federal government’s First Home Loan Deposit Scheme. The scheme allows first home buyers (FHB) to qualify for a home loan with a deposit as low as 5% and pay no Lenders Mortgage Insurance...

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Should Banks Automatically Adjust Home Loan Repayments?

personOtto Dargan access_timeNovember 26, 2019

93% of home loan borrowers are making more than the minimum home loan repayments off the back of cash rate cuts by the RBA. This is because currently, banks do not automatically adjust repayments. Basically, if a customer is paying P&I (principal and interest) then...

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Sydney And Melbourne House Prices To Soar Again By 12%

personOtto Dargan access_timeNovember 1, 2019

Sydney and Melbourne house prices are expected to grow by more than 12% by the middle of next year, according to ANZ economists. While most property reports and predictions are forecasting modest growth, ANZ is predicting a sharp rebound following the Reserve Bank’s...

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Can Afterpay Affect Your Home Loan Application?

personOtto Dargan access_timeOctober 31, 2019

Buy now pay later services like Afterpay and ZipPay are raising questions with lenders about a borrower’s ability to repay their home loan. It gives the impression that borrowers do not have sufficient amounts of cash on standby and are living paycheque to paycheque. Banks...

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5 Per Cent Deposit Scheme Passes Legislation

personOtto Dargan access_timeOctober 22, 2019

The 5% deposit scheme for first home buyers known as the First Home Loan Deposit Scheme passed legislation on 15 October 2019. The National Housing and Investment Corporation (NHFIC) Amendment Bill 2019 was introduced to the House of Representatives on 12 September and the...

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How To Buy When The Market Is Rising?

personOtto Dargan access_timeOctober 9, 2019

The market is heating up! According to CoreLogic data, Sydney and Melbourne are now rising markets with a sustained dwelling growth of 3.5% and 3.4% this quarter as of 30 September 2019. In addition, combined capital city auction clearance rates have surged above 70% and...

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