the Reserve Bank of Australia (RBA) has increased the official cash rate, this time by a further 50 basis points to 0.85 percent, as it tries to curb inflation.
With the rise in the cash rate, the big four banks passed the .25% rise to its borrowers. So what should you be doing today to help you ride through the future rate rises expected this 2022?
One tactic some buyers use is to make a pre-auction offer before the property goes under the hammer. The idea is that if you make your offer enticing enough
After 138 months, the Reserve Bank of Australia (RBA) has decided to increase the official cash rate by 25 basis points to 0.35 per cent in response to increasing inflation pressures. The latest inflation data showed Australia had recorded the highest quarterly and annual increase in more than two decades. The last time the RBA increased interest rates […]
Redraw facilities and offset accounts work in a similar way – they both effectively allow you to reduce the balance of your home loan, which reduces the amount of interest you pay.
Lenders mortgage insurance (LMI) is required when the value of a loan is more than 80% of a property’s purchase price, or property valuation if refinancing.
Loan to Value Ratio is the percentage of the loan against the value of the property. It is how much loan you have divided by the market value of your house.
My clients approached me last year about buying their first home. They’re a couple with two kids aged 8 and 10. The husband and wife are both working and earn around $100,000 each. They’re also both Australian citizens. Because both are first home buyers, Australian citizens and earning $200,000 combined, they qualify for the First […]
Owning your own home is one of the major life goals for most people. Saving for a deposit can seem daunting at first, but it doesn’t have to be. Here are a number of things to consider to get you started and on track for home ownership sooner than you think. Analyse your current financial […]
Interest rates remain at a record low currently, and the property market has been heating up despite the economic challenges due to the pandemic. Listings are currently lower which means buyers are competing for properties. So, if you are a first home buyer in a good financial position and considering buying using the First Home […]