News
Labor Government Schemes To Help Home Buyers
Labor’s win in the 2022 Australian elections brought a change in the government schemes available to first-home buyers and those who currently don’t own property. What Government Home Buying Schemes Are Available After The 2022 Election? The Labor government has introduced...
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RBA Increases Cash Rate To 0.35%
The Reserve Bank of Australia (RBA) increased the cash rate by 0.25 percentage points; taking the historically low cash rate to 0.35%. An increase in the cash rate causes the interest rates on variable-rate mortgages to go up as well, as most lenders, including major banks,...
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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
Home Guarantee Scheme Price Caps Increasing For 2022-23
The government has announced higher price caps for 2022-23 for parts of its expanded Home Guarantee Scheme, which includes the First Home Guarantee (formerly the First Home Loan Deposit Scheme), the Family Home Guarantee and the proposed new Regional Home Guarantee. (Note: the...
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bookmarkTags: Family Home Guarantee, First Home Guarantee, Home Guarantee Scheme
2022 RBA Interest Rate Forecast: Bad News For The Property Market?
The Reserve Bank of Australia (RBA) is finally considering hiking its cash rate, for the first time in more than a decade. The RBA has pushed its cash rate to record lows since 2011. When COVID-19 hit Australia in 2020, the central bank set its interest rate at 0.1 per cent,...
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Federal Budget 2022-23 | Home Guarantee Expands Into Regions
The 2022-23 federal budget had plenty for prospective home buyers, as the government announced expansions to its current home guarantee schemes, with a new regional home guarantee and other measures. There is also tax relief for low-to-middle-income families, plus new funding...
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$500 Million Victorian Homebuyer Fund | Who Can Apply?
On 8 October, Premier Dan Andrews revealed a $500 million Victorian Homebuyer Fund (VHF) to help 3,000 aspiring home buyers purchase a property in the state. The biggest benefit of the scheme is that you can buy a home in Victoria with a deposit as low as 5%. The Victorian government...
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bookmarkTags: government scheme, low deposit home loan, Victoria
Interest Rate Buffers Are Going Up, To Bring Debt Levels Down
The Australian Prudential Regulation Authority (APRA) announced that it will increase the interest rate buffers banks use to assess the serviceability of home loans from 2.5% to 3%. The higher buffer rate will be in place from the end of October 2021. It is applicable only for...
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bookmarkTags: APRA, Borrowing power, lending criteria
Ballooning Housing Debt Prompts Talk Of Lending Restrictions From Regulators
The Australian housing market has an imminent crisis looming. Surging property prices, record-low interest rates and increased lending of high-debt home loans are likely to result in a housing bubble burst due to ballooning housing debt. The Australian Prudential Regulation Authority...
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bookmarkTags: Australian Housing Debt, Credit growth, Debt-to-Income Ratio, DTI, first home buyers, Home Loan, Interest Rates, property prices
NSW & Victoria In Lockdown: What Relief Measures Are Available?
Due to the spike of COVID-19 cases, NSW has extended its lockdown for two weeks until 11:59 pm on 30 July 2021. To keep updated about the latest lockdown restrictions, please visit NSW’s government website. Victoria has extended its current State of Emergency through to...
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bookmarkTags: mortgage relief, mortgage relief options
