Top Australian Real Estates In 2020 You Should Know About
2019 saw the end of the downturn that plagued the Australian real estate market from late-2017 to mid-2019. The latter half of 2019 saw rapid growth in dwelling values due to a combination of the three cash rate cuts by the RBA (in June, July and October), relaxation of...
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Does A Higher Credit Score Mean Better Rates?
Does your credit score affect mortgage rates? Yes. However, does a higher credit score give you better rates? No! If one borrower has a good Equifax credit score of 700 and another borrower has an excellent Equifax credit score of 900, both of them will likely qualify...
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Australian Property Market Update 2020: All Eyes On Sydney & Melbourne
Sydney dwelling values rose by 6.2% during the fourth quarter of 2019, followed closely by Melbourne dwelling values, which increased by 6.1% — a very good sign for the Australian property market. Housing markets in both Sydney and Melbourne gained momentum in the Australian...
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7 Infrastructure Projects In Sydney To Push House Prices Up
The last quarter of 2019 (Oct-Dec) saw an impressive 6.2% growth in Sydney house prices – the best performing capital city. However, compared to the 2017 peak, house prices are still down 6.4% in Sydney – this is about to change. Mortgage interest rates are at...
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How Do You Adjust To Comprehensive Credit Reporting?
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
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
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?
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
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?
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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