450,000 Mortgages Are Still On Really Low Fixed Rates And Resetting This Year Is your fixed rate coming to an end? – here’s how to ‘soften the landing.’ According to the RBA, some 450,000 mortgages on those really low fixed rates will reset in 2024. At this stage the longer the fixed rate the bigger…
A Bridging Loan Story: Don’t Take ‘No’ For An Answer Robbie and Margaret had just bought a block of land and were looking to build on it. They already owned their own home and were in the process of paying it off. Obviously, they wanted to continue to live in that home until their new…
What is Best Interests Duty For Mortgage Brokers? And Why Does it matter? Best Interests Duty for mortgage brokers came into effect on January 1, 2021. The small and the short of it – mortgage brokers are now required by law to always act in the best interests of their clients and to put their…
When Was The Last Time You Checked Your Self Managed Super Fund Investment Loans? I was on a webinar the other day and the host was talking about how a lot of borrowers are currently paying 8% interest on their SMSF investment loans. Unfortunately, a lot of investors don’t really stay on top of their…
In April the Federal government announced First Home Guarantee Scheme Changes. From July 1 2023, friends, siblings and other family members will be able to jointly apply for the First Home Guarantee and Regional First Home Guarantee. They will be extended to non-first-home buyers who have not owned a property in the past 10 years….
This Is Getting Out Of Hand And A Small Glimmer Of Good News – Why are Interest Rates so High in Australia? Why are Interest Rates so high and keep on rising? Banks are again revising the number of rate rises the RBA will make. Thanks to the minimum wage rise, there are a number…
Discover the 9-step process of buying a house in NSW and gain valuable insights into navigating the real estate market. From assessing borrowing capacity to settling the purchase, this comprehensive guide covers everything you need to know. Don’t miss out on essential steps like property inspections, contract review, financing, and more. Get expert advice for a smooth and successful home buying journey.
Learn effective strategies to pay off your home loan early in the Australian mortgage market. Discover methods such as extra repayments, fortnightly and weekly repayments, finding lower interest rates, avoiding interest-only loans, purchasing investment property, making lump sum repayments, and utilizing a 100% offset account. Save thousands in interest and reduce your loan term. Take control of your finances and achieve financial freedom.
Ensure a smooth home loan application process with our comprehensive home loan application document checklist. From proof of income to property documentation, we outline the specific documents required for salary/wage earners, self-employed individuals, rental income, and more. Be prepared and increase your chances of securing a mortgage tailored to the Australian market.
Last issue I mentioned that fixed rates are up. But variable interest rates are low. The trend continues with more and more banks putting their fixed rates up. Variable rates are now also up by 0.25% p.a. after the Reserve Bank decision in May 2022. The flow on effect has been the media running a…
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