While refinancing your home loan may seem overwhelming at first, it’s less complicated than you might think. With historically low interest rates and increased competition across the home loan industry, lenders are keen to get your business. When you first took out a home loan, you probably paid very close attention to interest rates. Over time Refinancing your mortgage may therefore be a relatively simple way to save thousands and get a better deal on your home loan. What is refinancing? Refinancing is essentially moving from your existing home loan to a new home loan. The most common reasons people […]

Whether you’re affected by fluctuating interest rates or by a change in your personal circumstances, the pressure of maintaining regular mortgage loan repayments can be overwhelming at times. Here is some information to help you understand the available alternatives. What to do before it gets worse If you’re about to miss a mortgage payment or already have, rest assured there is help available. Taking a big breath and raising the issue with your lender is the best thing you can do – in fact, the earlier you do that, the more options your lender will have to assist you. Failing […]

Understanding how much borrowing capacity you have when buying your first home is an essential step for all newcomers to homeownership. The question of “How much can I borrow?” rears its ugly head for all new home buyers. As daunting as it can be, understanding your borrowing power is important – and essential – for those ready to get their foot in the door with their first home purchase. Owning property in Australia is a dream for many young professionals and families. Aside from the financial benefits of owning a home, being able to call a slice of land your […]

The story says young Australians struggle to buy their first home, while their parents negatively gear investment properties. Are boomers to blame? Or do millennials’ habits keep them from owning property? Baby boomers have a 95% rate of homeownership, whereas, at the bottom of the ladder, millennials are doing it tough. Increasingly they’re relying on the “bank of mum and dad”, asking their parents to go guarantor, or waiting until they inherit wealth or property in the future. The avocado toast equation More than one in three Aussie millennials don’t think they’ll be able to afford a house until after […]