Over $5m in super released for first home buyers scheme

In the period from 1 July 2018 to 6 August 2018 taxpayers have made 1,449 requests to the ATO under the first home super saver scheme, FHSS. These are called FHSS Determinations to enquire as to the amount which can be currently released under the scheme. Requesting an FHSS Determination does not amount to a […]

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So, what happens when your interest-only loan expires?

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Borrowers need to be ready for the cash flow effects of moving from interest-only loans to generally higher repayments on principal & interest loans. Omniwealth Finance suggests that borrowers work through its Interest Only Loan Expiry Checklist to ease the cash flow squeeze. Interest-only options on home and investment loans have a limited life span, […]

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Debt free equity release continuing to be a popular alternative to Reverse Mortgages

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A review released this week by ASIC into the reverse mortgage market in Australia, has drawn attention to the need for safe and certain equity release solutions for older homeowners. Homesafe Solutions Pty Ltd, the provider of Homesafe Wealth Release®, the only competitive alternative to reverse mortgages in the equity release sector, welcomes the report’s […]

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Refinancing your mortgage – Is it really worth it?

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According to Chris Straw, mortgage finance expert and co-founder of You‘re Welcome Finance, one of Australia’s leading finance brokers, despite all the recent changes to the finance sector and Australia’s enjoyment of some of the lowest interest rates in history, refinancing still requires careful consideration.  “There is no doubt, nearly every person I meet with to discuss refinancing their home loan is paying too […]

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How to own your home faster – Home ownership acceleration guide

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Offset An offset account is a bank account just like your transaction account and savings account, however, you do not earn interest. Rather, it offsets the interest you pay on your loan as it considers the money in the account has been paid off the loan. This still gives you the freedom to use this […]

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Borrowers favour smaller lenders, according to mortgage broker survey

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Larger banks are falling out of favour among homeowners seeking mortgages, according to the latest MyState Bank survey of its national broker network. In the survey, completed in last week of July, 70% of respondents reported they had noticed an increase in the number of clients asking for loan options from a smaller bank. Of […]

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Joust market-place eliminates the mortgage broker ‘middleman’ role

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Joust, an Adelaide based fintech that brings competitive tension to the home loan market by linking borrowers directly with over 20 lenders who compete against each other in real-time, has launched an equity crowdfunding campaign to raise $2 million. The Joust platform brings disruption to the $1.7 trillion home loan mortgage market where $2 billion […]

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Need to measure household expenditure accurately for lending purposes

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In light of the Royal Commission there has been much scrutiny towards the banks and by mortgage brokers. One of the key findings within the Royal Commission is the lack of verification of customer living expenses from mortgage brokers and the acceptance by the banks. The banks have always used a combination of the Household […]

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Mortgage brokers anticipate more business will go to smaller lenders

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An overwhelming proportion of mortgage brokers anticipate selling more home loans from smaller and regional banks to their clients this year, according to the latest MyState Bank survey of its national broker network. Respondent brokers said this was because smaller and regional banks had become as competitive as large banks and provided high levels of […]

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Vacancy rates dip in March

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Data released by SQM Research this week has revealed the national residential vacancy rate slipped to 2.1% in March 2018, with the number of vacancies Australia-wide falling to 68,964, down from 2.2% in February when 69,727 properties were available. Capital city asking rents have been pressured in Melbourne where the vacancy rate is just 1.4%. […]

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