Mortgage serviceability: how to jump through the hoops
Mortgage serviceability can feel like a frustrating hurdle to clear. But it’s an important safeguard against borrowing too much, particularly in the current interest rate landscape. It’s in the best interests of all parties involved if your mortgage is chugging along with regular repayments being made. Borrowing an amount you don’t have a hope in […]
Time to jump in? First home buyer deposit saving times plunge
Home loan headlines have been, let’s face it, a bit of a downer of late. But the good news is that first-home buyers are now reaching their 20% deposit goal faster. First home buyers have been delivered a bit of well-deserved good news with the findings of the 2023 Domain First Home Buyer Report. The analysis […]
Take the heat off rate hike fears with these 4 tips for buyers
Have recent rate hikes made you nervous about taking the plunge into the property market? You’re not alone; it’s a buyer’s market for a reason. Here’s how to stay cool and calm when buying your next property. As you’ve probably seen in the news, the Reserve Bank of Australia (RBA) has increased the official cash […]
Considering Refinancing Your Mortgage? Here Are Some Questions To Ask
Home loan not up to scratch? Looking for a better rate? Or do you want to unlock equity? Then refinancing could be for you. But there are some important questions to ask first. If you’re considering refinancing your mortgage, you’re not alone. With the rising cost of living and interest rates hitting the hip pockets […]
Planning A Renovation in 2023? Here Are 4 Tips For Smooth Sailing
Planning a renovation can spruced-up home feels great. And it can also boost your home’s value. But, as exciting as the prospect of rolling up your sleeves and getting on with a reno can be, there are certainly pitfalls to avoid. New year, new you, new reno? Renovating is exciting. Having aesthetics and function on […]
The Relentless RBA Strikes Again!
The Reserve Bank of Australia (RBA) has raised the official cash rate once again! The seventh straight increase in a row entails another 25 basis points and now sees the cash rate sitting at 2.85%. Back in May the official cash rate was just 0.10%. Just last week on November 1st, it was increased for […]
Healthcare Professionals Qualify for LMI Waiver
Healthcare professionals including nurses, midwives now qualify for a lenders mortgage insurance (LMI) waiver policy. This allows them to fast track their journey into the homeowners’ market and save thousands in the process. With the recent announcement, nurses, and midwives (who earn over $90,000 per annum) have now become eligible to buy a home with […]
Interest Rate Rises vs. Your Mortgage
Interest rates have increased again by 2.60%, another 25 points. How will this interest rate rise effect your mortgage repayments, and will it take effect immediately? It’s unbelievable that the cash rate increased from 0.10% at the start of May to 2.60% recently this month, making this the sixth month in a row where we […]
How Long Will It Take for an Interest Rate Rise to Kick in?
Household budgets around the country are feeling the brunt of five back-to-back rate hikes. And we’ve been warned more are on the way. But just how long does it take for each rate rise to impact your monthly mortgage repayments? As you’re probably aware, in early September the RBA raised the cash rate to 2.35%. […]
The Recent Interest Rate Rise Explained
Understand what is going on and the options available to you Interest rates are going up due to the reserve bank of Australia (RBA) being scared that inflation will hurt the Australian economy. While we do have high inflation at 5.1%, we need to consider some very important points. Cost Push vs Demand Push Inflation […]