If you apply for a home loan, particularly if the loan is for more than 80% 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.
Read MorePublished by MFAA
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.
Read MoreBy Gerv Tacadena for Your Mortgage
Mortgage borrowers will have to stretch their budgets over the next few months as the Reserve Bank of Australia continues its hike trend for the cash rate. The question is, how much could these rate increases add to mortgage repayments?
Read MoreBy Gerv Tacadena for Your Mortgage
With the apparent victory of the Australian Labor Party (ALP)’s Anthony Albanese as the 31st Prime Minister, learn what five key housing policies to be expected this year are.
Read MoreSo you’re thinking about starting your own self managed super fund. That’s great – but are you aware of what’s really involved?
If you set up a self-managed super fund (SMSF), you're in charge – you make the investment decisions for the fund and you're held responsible for complying with the super and tax laws. It's a major financial decision and you need to have the time and skills to do it.
Let’s take a quick look at a typical self-managed super fund.
Read MorePublished by MFAA
Some key reasons why prospective home buyers use mortgage brokers to secure home loans are that they expect brokers to save them money and assist them through the home loan application process.
If you decide a broker is for you, you’ll engage with them in several key stages throughout the application process and beyond. Read more.
Read MoreIf you’re looking for a creative way to overcome being locked out of the property market by rising prices, buying a house with a group of friends may be a solution. It can also be a minefield though, so here’s how to avoid a blast. While the excitement of banding together in such a life-changing moment can put everyone on a bit of a high, you need to plan for situations in which things might go wrong.
Read MoreThe Australian Prudential Regulation Authority (APRA) has taken its first step in addressing the risks of ballooning debt by ordering banks to use higher interest rates when assessing mortgage applications. Read more.
Banks and other financial institutions offer a wide range of business finance options, from commercial property loans, commercial vehicle leases, and commercial and equipment leases to more straightforward options such as letters of credit, overdrafts and lines of credit. Here are some tips on how to improve your chances of success.
Read MoreIs your current mortgage helping you meet your financial goals? Australian borrowers might be missing out on good refinancing deals by not reviewing their current home loans.
For borrowers who might feel like their current mortgage has already lost its competitive edge, refinancing is the way to go.
Read MoreBy Mark Rosanes for Your Mortgage
Selling a home involves a lot of expenses that can be easily overlooked, especially if you’re too caught up in the imminent cash windfall that can come after accepting a buyer’s offer.
But overlooking the costs of selling could come back to bite you, as the costs can easily amount to several thousand dollars.
Read MoreBy Johnson Damian for Your Mortgage
Buying a house will probably be the single most expensive investment that you will ever make, so it’s not surprising that mortgages often take decades to pay off. But if you’re smart about your finances, you can pay off this debt sooner and give yourself room to prepare for your next big purchase or investment.
Read MoreThe Australian government’s Family Home Guarantee Scheme aims to support Australian single parents in securing a home loan.
This article takes a look at the steps in applying for the single parent home loan scheme and some frequently asked questions from potential borrowers.
Read Moreby Mike Wood for Australian Broker
Investment in property in Australia is one of the biggest no-brainers in the current marketplace. In terms of capital growth, it might not have the speed of crypto or stocks, but in terms of delivering consistent results over time, real estate is as good an option as there is to be found.
Read MoreThe array of mortgages available helps a good finance broker to tailor a package to suit your needs. Read the MFAA blog post and find out some of the options.
Read MoreWritten by Mark Rosanes for Your Mortgage
Despite soaring property prices, many aspiring homeowners still believe that the conditions are right to purchase a house. A raft of government grants and record-low interest rates have opened opportunities for many first home buyers to get on the property ladder.
However, purchasing a home requires careful planning and preparation. So, how do you know if you are ready to venture into homeownership? Read the article by Mark Rosanes and find out some tell-tale signs.
