Mortgage News

Queensland Doubles First Home Owner Grant To $30,000

personOtto Dargan access_timeNovember 21, 2023

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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Is The New Budget Going To Be Inflationary?

personOtto Dargan access_timeMay 12, 2023

The 2023-24 Australian federal budget has sparked a debate about whether it will cause inflation to rise or fall. The government’s $21 billion economic relief package focuses on relieving the high cost of living, promoting affordable housing, improving healthcare, and providing...

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Buy Or Wait Until July? What NSW Stamp Duty Reform 2023 Means For First-Home Buyers

personOtto Dargan access_timeApril 17, 2023

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 caps...

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Westpac Group Enlists In The Home Guarantee Scheme

personOtto Dargan access_timeOctober 28, 2022

Australian borrowers who are applying for any programs under the Home Guarantee Scheme will now be able to explore options with Westpac Group, which has joined the lending panel for the scheme. Westpac and RAMS will participate in the Scheme from 1 July 2023, followed later in...

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How A 0.5-point Increase In Interest Rates Affects Your Borrowing Power

personOtto Dargan access_timeSeptember 2, 2022

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?

personOtto Dargan access_timeApril 20, 2022

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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Western Australia Is A Strong Choice For The First Home Buyers

personOtto Dargan access_timeJune 30, 2021

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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Lockdown Relief Options For NSW

personOtto Dargan access_timeJune 29, 2021

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

personOtto Dargan access_timeJune 2, 2021

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 in Australia....

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Australians Anxious About Buying A Home

personOtto Dargan access_timeMay 31, 2021

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. This...

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