Mortgage News
Queensland Doubles First Home Owner Grant To $30,000
Effective today, eligible first-home buyers in Queensland can get $30,000 as a First Home Owner Grant. This is double the previous grant amount of $15,000. The changes will apply to eligible transactions between 20 November 2023 and 30 June 2025. First home owners are expected...
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Buy Or Wait Until July? What NSW Stamp Duty Reform 2023 Means For First-Home Buyers
There’s another new state government in New South Wales – and that means another new stamp duty scheme. On 1 July, the outgoing Liberal government’s First Home Buyer Choice is expected to be replaced with Labor’s Fresh Start plan, which features lower house price...
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bookmarkTags: Labor Fresh Start Plan, NSW property tax, NSW stamp duty reform, NSW transfer duty
How A 0.5-point Increase In Interest Rates Affects Your Borrowing Power
Rising interest rates affect more than just monthly repayments and the total cost of a home loan. They also reduce the borrowing power of anyone looking for a home loan. The effect is more pronounced than you might think due to serviceability buffers. A serviceability buffer...
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Flood Relief Packages For 2022 | What Support Is Available?
The major banks in Australia have announced their financial relief packages for customers affected by significant flooding across southeast Queensland and parts of northern New South Wales. The following services are now available to customers whose finances the current floods...
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bookmarkTags: disaster relief package, flood relief package, lenders policies, relief measures for flood victims, relief schemes
Western Australia Is A Strong Choice For The First Home Buyers
According to new research, more than 22,000 new housing loans to first home buyers in Western Australia were approved in the ten months between July 2020 and April 2021, nearly double for the same period the year before. In comparison to New South Wales and Queensland property...
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bookmarkTags: first home buyers, Perth Mortgage Brokers, WA First Home Buyers, WA Property Market
Lockdown Relief Options For NSW
NSW is currently in a two-week lockdown. The big four banks promised to offer mortgage relief options ranging from loan deferrals to waiving fees for their customers going through financial hardship caused by NSW’s lockdown. Customers of ANZ Bank, Commonwealth Bank of Australia,...
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Cash Rates Unchanged In June: Investors Moving In
The rapid surge in housing prices throughout 2021 hasn’t affected RBA’s stand on the cash rates. The bank held the cash rates at 0.1 per cent in June and is adamant that it will keep the cash rates low until at least 2023. This has helped in creating a property boom...
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Australians Anxious About Buying A Home
An online bank owned by NAB surveyed 1,031 Australians from 8 to 10 March 2021. The results from the survey revealed Australians want to buy a home, but they needed more information regarding home loans: 44% of non-homeowners are anxious about buying their first home....
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bookmarkTags: First home Buyer, investment property, Mortgage Broker
How COVID-19 Has Affected The Regional Property Market
One of the most significant impacts of COVID-19 in Australia has been the ‘working from home’ shift. According to the Household Impacts of COVID-19 Survey in February, 41% of people with a job have worked from home at least once a week in February 2021. Before March 2020,...
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Banks Are Raising Long-Term Interest Rates
Australia’s major banks have begun raising long-term fixed interest rates in the past few weeks. Term CBA Westpac ANZ NAB 3 year fixed 2.19% 1.88% 2.04% 1.98% 4 year fixed 2.24% 2.19% 2.24% 2.19% 5...
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