News

$500 Million Victorian Homebuyer Fund | Who Can Apply?

personOtto Dargan access_timeOctober 12, 2021

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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Interest Rate Buffers Are Going Up, To Bring Debt Levels Down

personOtto Dargan access_timeOctober 11, 2021

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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Ballooning Housing Debt Prompts Talk Of Lending Restrictions From Regulators

personOtto Dargan access_timeOctober 5, 2021

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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NSW & Victoria In Lockdown: What Relief Measures Are Available?

personOtto Dargan access_timeJuly 16, 2021

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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First Home Loan Deposit Scheme Adds 30,000 Places, Raises Price Caps

personOtto Dargan access_timeJuly 1, 2021

The price caps for homes purchased under the First Home Loan Deposit Scheme (FHLDS) have been raised by $100,000 or more across most states and territories barring the ACT, where they remain unchanged. Given the strong growth in property prices this year, this is welcome and...

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Family Home Guarantee – Is It Accessible By The Lower Class?

personOtto Dargan access_timeMay 25, 2021

The new Family Home Guarantee scheme, allows single parents to buy a property with as little as a 2% deposit. The government acts as a guarantor to waive the need for the lender’s mortgage insurance. However, single parents fear that they could struggle to be approved for a...

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Budget 2021: Support For First Home Buyers & Single Parents

personOtto Dargan access_timeMay 12, 2021

The 2021/22 Federal Budget focuses largely on recovery, to plug remaining gaps in the Australian economy. The 2021 budget is here. It’s the second budget in just six months, following last year’s delayed COVID budget. It has a range of steps to support first-home buyers...

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Major Banks Cut Fixed Rates Below 2%

personOtto Dargan access_timeMarch 22, 2021

Fixed rates for home loans are well below variable rates and are the lowest they’ve been in Australian history. Westpac was the first to launch a mega-low interest rate below 2%, after which the National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA) followed....

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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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