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...
Read morefolderCategory: News
bookmarkTags: home loan repayment, repayment
Sydney And Melbourne House Prices To Soar Again By 12%
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...
Read morefolderCategory: Property Market
bookmarkTags: Australian property, Brisbane, Melbourne, Sydney
Can Afterpay Affect Your Home Loan Application?
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...
Read morefolderCategory: Home Loan Articles
bookmarkTags: Afterpay, home loan applications
5 Per Cent Deposit Scheme Passes Legislation
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...
Read morefolderCategory: First Home Buyers, Home Loan Articles
bookmarkTags: 5 per cent deposit scheme, First home Buyer, first home loan deposit scheme
How To Buy When The Market Is Rising?
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...
Read morefolderCategory: Property Market
bookmarkTags: Pre approval, Property Buyers
The Way Your Credit Score Is Calculated Has Changed
The Big Four banks of Australia have fully adopted the Comprehensive Credit Reporting (CCR). The introduction of CCR changed the type of consumer credit information that can be collected and reported. Previously, Australia only had a negative credit reporting system but...
Read morefolderCategory: Credit Score
bookmarkTags: comprehensive credit reporting, improve your credit score
How Are First Home Buyers Bridging The Deposit Gap?
Seven in ten recent first home buyers (FHB) did not fund 100% of the deposits from their savings, according to The Genworth First Home Buyer Sentiment Report. To bridge the deposit gap, both recent first home buyers and prospective first home buyers are increasingly looking...
Read morefolderCategory: First Home Buyers
bookmarkTags: first home buyers, Genworth
Fixed-Rate Home Loans Drop Below 3%
Over the last month, several of our lenders announced that they’re decreasing the interest rates on their fixed rate home loan products. Fixed rates have fallen below 3%. We’ve listed the best fixed-rate home loans available from our panel of lenders below. Owner-occupied...
Read morefolderCategory: Fixed Rate Loans
bookmarkTags: fixed interest rates, Interest Rates
RBA Says: Expect An Extended Period Of Low Interest Rates
Great news for borrowers! The Reserve Bank of Australia’s Governor Philip Lowe says that the cash rate will stay low for the long term. In its 4 September meeting, the RBA has decided to keep the cash rate unchanged at 1%, which means that borrowers can enjoy a longer...
Read morefolderCategory: News
bookmarkTags: cash rate, fixed interest rates, Interest Rates, RBA, variable interest rates
Property Market Predictions – QBE Report 2019
According to QBE’s Australian Housing Outlook 2019-2022, house prices across all the capital cities are set to grow in the next three years. With Brisbane house prices expected to grow by as much as 20.3%, it may very well be the next property hotspot, it is followed...
Read morefolderCategory: Property Market
bookmarkTags: first home buyers, Home Loan, Property Investment, Report
