Most mortgage holders haven’t changed their home loan in the last five to 10 years, even though their circumstances have most definitely changed in that time.
Largely that’s because there’s the perception that refinancing is a difficult process or because people think the deal they got at the time was good — it it ain’t broke, etc, etc, etc. The truth is that banks will readily increase their rates and let you know via email or their app and you can do the same to them! Continue reading “Why You Should Review Your Home Loan Each Year”
Buying a brand new home often means signing up to a house and land package, or if you’re buying into a townhouse or apartment complex, buying off the plan.
In both instances, however, it’s not quite as simple as it sounds, as no two house and land packages or off the plan purchases are ever the same.
Continue reading “What to Look For When You Buy a House and Land Package or Off the Plan”
With tighter prudential lending rules, people wishing to get onto the property ladder may find it harder than it was 12 months ago. (They might also find the high property prices in most Australian states a barrier, too.)
But a number of new fractional investment platforms aim to make it easier for investors to start a property portfolio and these options are available through an Australian company that’s listed on the ASX!
Continue reading “Get into Property with Friends Through Fractional Investing”
Newcastle property prices are relatively cheap
I moved to the Morisset peninsula so my family could have more time having fun in the backyard and pool. We live close to the lake, there are plenty of good schools, several shopping centres and property prices are increasing quickly.
Continue reading “Is Newcastle a cooler place to live than Sydney”
The Internet is NOT the Real World, it’s a Sales Agents World
If you’ve ever looked for property on the internet, then you know that very often things are not always what they seem. Bedrooms that appeared light and spacious online often turn out to be dark and cramped; lush gardens overgrown; that short distance to the local shops: a ten minute drive on a street signposted at 100km/hr.
Inspecting a property, especially if you intend to live in it, is an important part of the property buying process. Continue reading “Property Inspections, vetted by a buyers agent”
The toughest part of getting into the property market for a first home buyer is getting the deposit together. Most lenders require at least 20 percent — though tightened lending practices mean some lenders require more. But there are Government incentives and other ways to get into the property market, particularly in the Newcastle area.
Continue reading “First Home Buyers and Family Pledge Applications”
The Reserve Bank has kept the official cash rate at a record low of 1.5 percent, and while that doesn’t directly translate to lower interest rates on home loans, it’s still a good enough reason to see if you can get a better deal on your current loan. Here are some ways a mortgage broker can help more than your contact at your bank.
Continue reading “How To Get Your Lender to Lower Your Interest Rate?”
While an established property in an established suburb is never a bad investment — older suburbs tend to be in higher demand and property values appreciate faster — there are more than a few reasons why the right new home could be a better investment.
Governments often consider Stamp Duty Concessions and Super Contributions to encourage not only First Home Buyers but also the building industry.
Continue reading “How Buying a New Home is Safer & Better for Tax”
Separation Agreements Matter
With the volume of property bought and sold in Australia each week, you might assume getting a home loan is a straightforward process. Unfortunately, it’s rather complex. And not every lender approves applicants the same way, leading to some very different lending outcomes.
A mortgage broker understand what each lender is looking for and which one will suit your circumstances.
Continue reading “Single Income Family In Need of a First Home Loan?”
Stamp duty is a “State based” tax levied on certain transactions, including the purchase of real estate. The rate you’ll pay varies in each state and territory.
As stamp duty is a tax, you cannot borrow money to cover it, though it can accommodated for by reducing the amount of your cash deposit and increasing your home loan to cover the difference. This may mean taking out lender’s mortgage insurance (LMI) [What is Lender’s Mortgage Insurance?] to compensate for your reduced deposit.
Continue reading “Stamp Duty Lowers Capacity, BUT NSW Gov Concessions for First Home Buyers”