Looking to refinance your home loan? A valuation is a vital part of the process. So today we’ll look at some ways you can help get your home in tip-top shape. When you refinance to try and get a better deal on your home loan, the lender you’re applying with will arrange a valuation to…
The ‘pendulum may have swung a bit too far’ when it comes to the tight lending standards currently imposed on small businesses, says the Reserve Bank of Australia (RBA). Since the RBA cut the official cash rate to a new record low of 0.75% on Tuesday, most of the attention has been on whether the…
The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 0.75%. But will the banks pass on the interest rate cut in full to you? RBA Governor Philip Lowe said this third rate cut in five monetary policy meetings was made to support employment…
Three-in-five prospective first home buyers intend to buy soon with a smaller deposit, rather than wait until they have saved a 20% deposit. So how do they plan on doing so? It usually takes between seven to 14 years for first home buyers to save a 20% first home deposit, according to a new report…
Imagine buying your first home with only a 5% deposit and not having to pay lenders mortgage insurance (LMI). Well, that dream is one step closer to reality after the government introduced legislation to implement the First Home Loan Deposit Scheme. Currently, people with a deposit of less than 20% usually have to pay LMI.…
Lending to Aussie households spiked 3.9% in July, the strongest growth seen since October 2014, according to the Australian Bureau of Statistics (ABS). The bumper month follows a 1.9% rise in June 2019, suggesting the tide has finally started to turn in the lending market. “Whoa. Quite the surge in housing credit in July,” remarked CoreLogic’s head…
Today the lending market has completely changed. With so many new lenders available consumers have more flexibility and choice than ever before. Unless you fit into a very tiny square as a “standard client”, you could be wasting your time as the bank you walk into bank may not suit your needs. Before presenting to…
Shopping with a credit card is quick, easy and painless – at least until your next payment becomes due. When buying with credit, it’s important to anticipate your next bill and make sure you repay more than the bare minimum. Use a budgeting app to keep an account of your purchases and an eye on…
Why is it that house flipping works for some and fails spectacularly for others? The idea of buying a property, renovating it and selling it for profit might seem straightforward, but there are many traps for the unwary. If you’re to have any chance of success with house flipping, it’s essential to follow the path…
Suffering a credit card hangover post-Christmas? Don’t let credit card debt get the better of you, especially if you’re planning to apply for a mortgage this year. Show you can reliably pay off your debts on time and more home loan options will be available to you. Did you know, every time you apply for…
