Written by Alex Brewster for https://www.savings.com.au
New research has revealed 51% of Australians are feeling more confident about the state of the housing market than 12 months ago.
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In this article written for Your Mortgage Australia, Gerv Tacadena explains how technology is changing the game for many industries, including the home-lending space, where digital mortgage providers are starting to ramp the competition up with brick-and-mortar banks…
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Heard about mortgage refinancing? In the past, most people who took out a mortgage doggedly continued with it until they had paid it off. These days, people refinance their mortgage much more frequently. The average duration of a home loan in Australia now is just 4-5 years. Here we look at some of the reasons people in Australia refinance their home loan.
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Dubbed as the ‘Layby’ of today, Buy Now Pay Later providers can send the wrong message to your bank and potentially affect your loan application.
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With official interest rates trending downward, shrewd mortgage holders may take the opportunity to call their lender to ask for a better deal.
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When it comes to saving on your mortgage, some of you may not have to look further than your job. If yours is a profession that classifies you as a ‘low risk’ borrower in the eyes of lenders, then you may be entitled to special discounts.
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Urgent maintenance is an unavoidable aspect of being a landlord, so having a cash buffer set aside will help you deal with any unexpected problems.
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As a home owner with a mortgage, chances are you’ve heard of the term 'refinancing'. Refinancing involves reviewing your current mortgage, and potentially swapping your loan to another lender who can better meet your current needs, wants and circumstances.
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There are different types of business loans to suit different stages of a business life-cycle and different business needs, and selecting the right one can speed up the application process and minimise costs.
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One of the toughest parts of realising the dream of owning a home is saving for a deposit. The options seem pretty dismal – subsisting on a diet of beans on toast, never socialising, moving back in with the parents – and are almost enough to prompt a commitment to a life of renting.
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If you are thinking of building your own home, you will need to be familiar with the ins and outs of construction loans.
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Seeped in cultural and historical significance, it’s understandable that there are restrictions when renovating a heritage listed home. While that’s not to say that you can’t make any changes, a little more legwork and creativity is often required.
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When people think of buying an investment property, many only think locally. Investing in a property interstate could possibly be a smarter idea, potentially resulting in a better return on your investment. it may also be a potential way to snaffle a bargain. You could be buying into an area with greater potential capital growth compared to your home state – as each state reaches different stages of the property cycle at different points.
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Before you apply for a home loan with your partner, there are a few discussions that you need to have that go a little beyond what you may know already.
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Securing a business loan in Australia isn’t necessarily difficult but knowing how to navigate your way can be the difference between success and failure.
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Before you take the leap into a holiday-home investment, it is essential that you consider all angles. This means taking your heart out of the equation and giving thought to rental returns - which means location really is king.
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Urgent maintenance is an unavoidable aspect of being a landlord, so having a cash buffer set aside will help you deal with any unexpected problems.
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If you apply for a home loan, particularly if the loan is for more than 80 per cent of a property’s value, you’ll more than likely have to prove to lenders that you have a satisfactory amount of savings. This is to demonstrate your ability to funnel a portion of your income into repayments.
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Brokers can help connect you to the lender best fit to serve your mortgage needs by shopping around on your behalf.
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Making extra repayments on your home loan can be a clever financial strategy. Investing your extra cash into your home can speed up your loan’s life cycle, with the added benefit of saving money in the long run. However, care must be taken to ensure that extra repayments are planned and the right type of loan taken out to allow for them.
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