Want to increase your borrowing power by $100K?

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Many first-home buyers just can’t quite afford the property they want in Sydney and Melbourne. People seeking to buy in the inner-city suburbs that are well serviced by public transport should think about ditching the car. “Maybe your car commitments are stopping your home aspirations. A relatively small car debt limits the extra capital that […]

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Labor’s negative gearing policy – A market update

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SQM Research, Australia’s most recognised property investment research house, yesterday released a report into the likely housing market effects of The Labor Party’s proposal to change negative gearing, taking into account current housing market conditions. This research is an update on its initial paper released in June 2016 – a time when the housing market […]

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Resimac supports ‘Don’t Kill Competition’ campaign

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Leading non-bank mortgage provider Resimac has confirmed its support of the nationwide ‘Don’t Kill Competition’ campaign launched by the Mortgage & Finance Association of Australia (MFAA) to oppose a proposed ban on all mortgage broker commissions paid by lenders to brokers.  The final report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, […]

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First-home buyer numbers surge

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Housing finance Number of home loans: The number of loans (commitments) by home owners (owner-occupiers) fell by 0.9 per cent in November after rising by 2.1 per cent in October (the largest gain in 12 months). First home buyers active: The proportion of first-time buyers in the home loan market rose from 18.1 per cent in October […]

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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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