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Factors keeping property prices stable in a rising interest rate environment
The property market in Australia has always been closely intertwined with fluctuations in interest rates set by the Reserve Bank of Australia (RBA). However, recent times have seen a shift in the usual dynamics. Despite a record 12 interest rate increases since May of the previous year, the property market has demonstrated resilience, with some […]
Top tax tips for property investors in 2023
As a property investor, tax season can be a challenging time. However, by following a few simple tips, you can navigate the process with ease. Below are 5 simple strategies to help you get the best out of your tax return.
Boosting your credit score when applying for a home loan
Obtaining a home loan is a significant milestone in achieving the dream of homeownership. One essential factor that lenders consider when approving a home loan is your credit score. In Australia, a good credit score not only improves your chances of securing a home loan but also enables you to access better interest rates and […]
Coping with rising interest rates: Simple strategies for relief
As interest rates continue to rise, borrowers are feeling the impact on their mortgages. To help you alleviate the burden of increasing mortgage repayments, we’ve compiled some practical tips. By following these strategies, you can temporarily mitigate the effects of rising interest rates.
Understanding the factors that impact Australia’s interest rates
If you’re a mortgage customer in Australia, it’s essential to grasp the factors that influence the monetary policy managed by the Reserve Bank of Australia (RBA). Monetary policy plays a significant role in shaping the economy and has direct implications for interest rates, which affect your mortgage repayments. As we have seen 12 rate rises […]
Redraw account or offset account, what’s the difference?
Making extra payments onto your mortgage is very common now. Especially with low interest rates, many can afford to make extra payments to pay down the loan faster. But, where should the payments go, into the offset account or directly into the loan Paying extra into your mortgage account will mean that the balance of […]
How much deposit do you do need?
I can’t tell you how many times we hear ‘really, so I don’t need a 20% deposit?’ in a meeting. The common myth of requiring a 20% deposit to buy a home has not been the case since Lender Mortgage Insurance or LMI was introduced in Australian in 1965. LMI was introduced to bridge the […]
What does an interest rate rise mean in dollars?
When interest are moving, usually there is a reason for the move. Whether its part of the government fiscal policy or the banks passing on higher lending costs. There will always be movement in interest (variable) rates and we need to be prepared for any possible future rate rises by knowing how they may impact […]
Why you need building insurance for your loan
Building Insurance is a requirement before your loan can settle when buying a freestanding property. All lenders will require a copy of the certificate of currency issued by the insurer, confirming the lender as an interested party on the document. The reason for this is that the lender wants to ensure that if the property […]
Why do we stress test your loan?
When applying for a home loan, the lender has a buffer they put in place to ensure you can still make repayments if the interest rates were to increase. This is called the benchmark rate, sometimes its 2.5% above the actual interest rate, sometimes it’s a set rate, no matter the product you choose. Different […]
