It’s not surprising that many first-home buyers keeping abreast of the latest property news are feeling the “fear of missing out”. Interest rates are at an all-time low, restrictions on public auctions have eased, and some homes have been discounted according to recent data from realestate.com.au. While these conditions can provide a boost for first-home…
Going to bid at an auction without getting pre-approval for a home loan first is a bit like going shopping without a budget or even a wallet. Here are four reasons you should always make sure you’re pre-approved before you raise your hand at an auction. What is home loan pre-approval? Pre-approval for a home…
Here’s what happened to property in April. The national property price index grew a slight 0.3 per cent in April against a backdrop of significantly reduced market activity and consumer confidence. Hobart (-0.1 per cent) and Melbourne (-0.3 per cent) were the only capital cities to record a fall in property values, according to the…
But don’t worry! It’s a good thing for most people. Previously, when applying for a home loan, banks and credit providers would only look at your ability to service the mortgage; so, basically, your income. That was before the introduction of Comprehensive Credit Reporting (CCR). Now, borrowers are assessed on their full financial history, including…
Your home loan repayment is most likely the biggest outlay in your everyday budget and it will continue to be for many years to come. Thankfully, there are ways you can potentially save on interest to help you reduce the length of time you need to pay off your home loan. But one often hidden…
Many first home buyers struggle to get into the property market. Here are some ways parents are providing much needed support. As the cost of housing has gone up, a growing number of parents are offering to help their children buy their first property. So, if you’re a parent looking to provide financial support to…
First-time buyers are actively searching in affordable areas around Australia during the COVID-19 pandemic hoping to snap up property bargains. Savvy first-time buyers are seizing the opportunity to secure a property while incentives are high, low deposit home loans remain on offer, and competition is low due to the coronavirus. Despite a general drop in…
Confused by Dad’s mortgage lecture and really want to know where to start? We have you covered. In normal circumstances it’s really hard to know where to start when buying or building your first home. There is a lot to think about like: Should I buy an existing property or build? How do I research…
Once your home loan is approved and you’ve signed the contract of sale, all that’s left to do is settle. A quick job for your solicitor, right? Not quite. Property settlement is a legal process of transferring the ownership of the property from the seller to you. It usually takes around 45 to 90 days,…
Signing up for a home loan can be daunting