Now May be a Good Time to Refinance Your Mortgage Refinancing could be a solution for Australian homeowners looking to save money in 2024. Data from the Australian Bureau of Statistics (ABS) shows that as of August 2023, a massive $407M for owner-occupied home loans and $136M investment property worth of home loans were refinanced…
Using Your Equity to Grow Your Investment If you’ve paid off part of your mortgage or made improvements to your home that have increased its value, you may have equity that could be used to buy an investment property. Equity is the difference between your home’s current value and what you owe on your mortgage,…
Book Your Home Loan Review As your biggest expense, keeping track of your home loan and any changes to the market or your situation makes good financial sense. An annual home loan review could lead to significant savings, give you access to better home loan features, or let you tap into your home’s equity to…
How to Avoid Paying Lenders’ Mortgage Insurance When buying your first home every cost saving counts. But if you’re struggling to save a large enough deposit, there’s a good chance you’ll have to pay Lenders’ Mortgage Insurance. Lenders’ Mortgage Insurance can be a sizeable cost, so it’s worthwhile finding out about it upfront and factoring…
Property Valuations: Maximizing Your Property’s Worth Refinancing your mortgage to get a better deal or to use the equity in your property means arranging a valuation of your property to determine its value. Getting a lower-than-expected valuation can affect the interest rate your lender offers and the amount of equity you can tap into. Here’s how…
First Tier Lenders vs. Second Tier Lenders Stricter lending conditions across Australia have led to a rise in the number of borrowers turning to second-tier lenders for finance. Second-tier lenders – who can be smaller banks or non-bank lenders – whilst also tightly regulated, can often have more flexibility in the rates and fees they…
How to Navigate Interest Rate Rises As Australian household budgets are stretched further by yet another interest rate rise, some homeowners are looking at ways to cut discretionary spending, while others are considering refinancing their home loans and shifting to lenders offering better deals. With further rate rises likely, now may be the right time…
3 Practical Tips For Getting Your Finances Back on Track A staggering 7.2 million Australians are said to be starting the New Year with a Christmas debt hangover. According to research, one in four Aussies could take up until May to pay back their Christmas debt! If your big Christmas blow-out hit hard in January, it’s…
Big Banks, Small Banks, Non-Banks When deciding on a home loan provider, many people choose to approach their own bank in the first instance, believing it makes sense to work with a lender already managing their everyday banking. This is not always the best option however, and it could mean missing out on better deals.…
Curing Your Christmas Debt Hangover While you won’t find this expression in a mainstream dictionary, it’s a feeling that’s all too real for anyone who’s overspent at Christmas. A Christmas Debt Hangover usually kicks in around the middle of January when the credit card bills start rolling in. Symptoms include stress, trouble sleeping, and an…