For those who haven't seen in the last week Westpac, ANZ and CBA have increased rates across all variable loans by a minimum of 0.14%, hitting the pockets of owner occupiers and investors alike. For the average Perth home owner, that’s an extra $774 annually. Unfortunately, these will not be the only banks to move. […]
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If you looking at building a home from scratch or doing a substantial renovation it is likely that you’ll need a construction loan. Many lenders offer construction loans as a part of their suite of products and the reality is that they are similar to a normal home loan with a few subtle differences. Progress […]
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An average home buyer in Australia needs to put down over $100,000 as an upfront deposit to purchase a property. Not surprisingly, many first home buyers find it difficult to get into the market. With house prices at record highs across the country there's no wonder why first home buyers are looking to the bank […]
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Are you getting motivated by this season of the Block? Do you want to jump on the renovation band wagon but have no idea how you can afford it? Here's a couple of ways to finance your dream renovation and convert your old pad into something inspired. Using Equity The term equity gets thrown around a bit when talking about property but […]
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It's that time of the year again when we start getting our tax affairs in order and if you're smart about it you can look forward to a tax refund. To get the most out of this time of the year I strongly advise finding an accountant to do the work for you. Their cost […]
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For most of the last decade I used to work for banks with the main goal of increasing their profitability. I apologise up front for that. Now that the shoe is on the other foot I have learnt a few things to help you pick your next home loan and help you get one back on […]
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A property valuation can really make or break your ability to get a home loan with lower valuations having devastating impacts on your ability to refinance to a cheaper rate, fund the purchase of a new home or in some rare cases limit your ability to sell your property. Over the last year we have been privy to the results of countless […]
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While Banks spend millions of dollars annually on marketing campaigns the reality is that there are really only a few home loan types that are just painted with different colours and are priced differently. Let's explore them. Variable rate loans The interest rates attached to these loans can basically move at the discretion of your bank. They normally […]
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Ever wondered what all those home loan features actually mean? Hopefully we can make life a little easier with an explanation of the most common ones. Offset Accounts This is a transaction account linked to your home loan that helps reduce your interest repayments. Banks calculate interest daily and charge accordingly so any credit balance that […]
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