News

Australians Are Paying Too Much On Their Home Loan: ACCC

personOtto Dargan access_timeDecember 17, 2020

Australians with older home loans are losing thousands of dollars by not checking for better home loan rates. Borrowers are spending far too much repaying their home loans by not seeking a lower interest rate from their exisitng lender or switching to a new lender. You could...

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Fixed Rates Are Below 2%: Is It Time To Fix My Home Loan?

personOtto Dargan access_timeDecember 3, 2020

When the Reserve Bank of Australia (RBA) announced the historic low cash rate of 0.1%, most lenders slashed their fixed rates to below 2% and held off on reducing their variable rates.  To fix or not to fix?  Seeing fixed rates advertised below 2% seems enticing, however, will...

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Victoria Announces Stamp Duty Waivers Plus $6 Billion For Housing

personOtto Dargan access_timeNovember 25, 2020

In its 2020-2021 state budget, the Victorian government announced that it will invest $6 billion to build more than 12,000 new social and affordable homes and make housing more accessible and affordable for Victorians. According to the government, the package is Australia’s...

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NSW Stamp Duty Changes: What Are The Benefits?

personOtto Dargan access_timeNovember 19, 2020

The New South Wales government is proposing to abolish stamp duty as part of its 2020-21 budget announcement on 17 November 2020. Instead of paying stamp duty upfront, it would be replaced by an annual land tax. Stamp duty is a government tax paid when you buy a property. First...

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Newsflash: Major Banks Drop Fixed Rates To 1.98%

personOtto Dargan access_timeNovember 4, 2020

RBA announced the history-making rate cut on November 3rd in which they slashed the cash rate to a record low of 0.10%. The big four banks have made significant rate cut to fixed home loan rates. One of the major banks has reduced the fixed-rate to the lowest ever at just 1.98%...

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More Australians Looking To Buy A Home Now Than Ever

personOtto Dargan access_timeNovember 3, 2020

Consumer sentiment is on the rise but is it enough? The government’s unprecedented level of stimulus amidst the COVID-19 pandemic such as the Jobseeker, Jobkeeper, HomeBuilder have helped restore confidence in the economy. According to the Westpac-Melbourne Institute Index...

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More Than Half Of All The Paused Mortgages Yet To Resume Their Repayments

personOtto Dargan access_timeNovember 2, 2020

At the height of the COVID-19 pandemic, around 500,000 mortgage repayments (1 in 11 mortgage holders) were deferred. Six months later, almost half (45%) of all deferred mortgages have resumed repayments, based on data collected by the Australian Banking Association from seven...

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Budget 2020: Helping First Home Buyers & Infrastructure Development

personOtto Dargan access_timeOctober 8, 2020

The focus of the 2020 Federal budget is to help Australians get through the COVID-19 recession by boosting business and consumer confidence and growing the economy and creating jobs.  Here’s what Federal Treasurer, Josh Frydenberg announced for the 2020 Federal Budget.  10,000...

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First Home Buyer Deposit Dilemma

personOtto Dargan access_timeSeptember 4, 2020

70% of first home buyers have been forced to chip into the deposit funds they had saved towards fulfilling their home ownership dreams.  This startling figure was revealed in a nationwide study conducted by Gateway Bank. The study surveyed 700 aspiring first home buyers in May...

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Pros And Cons Of Cash Out Refinance

personOtto Dargan access_timeJuly 31, 2020

As many Australians manage the financial strain of coronavirus, cash-out refinance is an option to support households by putting cash in the pockets of Australian homeowners. Cash-out refinancing is when you take out a loan that is worth more than your original mortgage usually...

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