Mortgage offset accounts: Making your loan work for you

  Savvy borrowers have an endgame in sight before they even apply for a home loan, and with the right mortgage offset account, they could win that game even more quickly. Home buyers usually focus on the here and now, not the distant future. Rather than the size of their loan balance in 10 or … Read more

Why has my Investment Loan interest rate increased?

I’ve had many discussions with clients over the past few months about the increases to investment loan or interest only loan rates, in many cases where the increases have been substantial. In short this has occurred because APRA, the banking regulator has placed limits on the amount of investor lender and interest only lending that the Banks … Read more

Will interest rates increase in 2017?

Interest rates have been at historical lows for such a long time, home owners could be forgiven for forgetting what it is like for rates to rise.   In recent weeks though, major lenders have increased their fixed term rates, across several loan terms (two, three and five year terms). A rise in fixed rates … Read more

What is a good interest rate? How do you know if you have one?

Your mortgage is likely to be your single biggest monthly expense and yet you might (like many people) struggle to know what interest rate you are paying, let alone whether or not you are getting a ‘good deal’. The difference in interest rates can be significant. The best rate in the market at the moment (after the recent rate cut) is … Read more

How much can you afford to borrow with your first home loan?

Understanding how much borrowing capacity you have when buying your first home is an essential step for all newcomers to home ownership. 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 – … Read more

7 Reasons to take the plunge and become a home owner

Mortgage can be a dirty word for anyone that doesn’t have one. It conjures up images of baked beans for dinner, never being able to go out and being enslaved to a 30 year financial commitment with a faceless big bank. But for most people it will eventually be something they consider.   So why … Read more

Why would you use a Mortgage Broker?

Research has revealed that 53% of Australian’s now use a mortgage broker for their lending needs, up from 35% ten years ago. So why are Australian’s increasingly using the services of a broker?   1) A choice of lenders With an extensive panel of lenders (including the major banks), mortgage brokers are able to compare hundreds of loans to find a loan that gives … Read more

Why you should definitely be thinking about refinancing

Some estimates put the cost to customers of their ‘loyalty’ to their existing home loans with the big four banks at ‘more than $6 billion in savings each year’*.   Given that there are home loan lenders offering rates as low as 3.99% at present ‘Australians are wasting $17 million every day by sticking with … Read more

The simple ‘Home Loan Health Check’ that could save you thousands

Mortgage repayments are often one of the largest expenses of a household and yet many people put their home loans in a ‘set and forget’ and don’t even consider whether their existing home loan suits their current circumstances, or if there might be savings to be had from a lower interest rate. Your broker can … Read more