Author: Otto Dargan
folderCategory: News
bookmarkTags: mortgage deferral, repayment pause
Why You Shouldn’t Let The Pandemic Put Your Plans For Pre-approval On Hold
It’s hard to believe we’re in the middle of a pandemic with the Australian Bureau of Statistics (ABS) data shows that Australians secured $16.3 billion in owner-occupier loans in August 2020. This is a 13.6% increase in August, which is the largest rebound since...
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bookmarkTags: Home Loan, home loan pre-approval
Australian Property Market Update: September 2020
Falling home values in Sydney and Melbourne pushed the national housing market into its fifth consecutive month of decline. Six of the eight capital cities had a rise in their home values over the month. Only Sydney and Melbourne recorded a decline of 0.3% and 0.9%...
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bookmarkTags: Australian Federal Budget, Australian property, first home buyers
Budget 2020: Helping First Home Buyers & Infrastructure Development
The focus of the 2020 Federal budget is to help Australians get through the COVID-19 recession by boosting business and consumer confidence and growing the economy and creating jobs. Here’s what Federal Treasurer, Josh Frydenberg announced for the 2020 Federal Budget. 10,000...
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bookmarkTags: Australian Federal Budget, Budget 2020, First home Buyer, Property Investment
Pros And Cons Of Refinancing Your Home Loan
According to CoreLogic’s early market indicators (as of 27 September 2020), refinancing mortgages rose 1.46% over the past week. Refinancing was up 22.11% year on year, compared to a 10.68% rise on mortgages for a new purchase. Source: CoreLogic’s Early Market Indicators...
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bookmarkTags: Refinance, refinance home loan
Responsible Lending Laws To Be Terminated By March 2021
What are responsible lending laws? The Rudd Labor government tightened the responsible lending law in 2009 following the GFC. The laws required lenders to make more of an effort to figure out whether would-be borrowers can afford to repay their debt. The responsible lending...
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bookmarkTags: home loan approval, responsible lending laws
Australia Property Market Update: August 2020
CoreLogic reveals that Australia’s property market is experiencing a fourth consecutive month of COVID-induced price falls, with home values dipping by 0.4% in August. However, home values for the 12 months to August 31, 2020, are still 5.8% higher than in 2019. Even...
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bookmarkTags: Australian property, property market update
Australia Property Market Update: July 2020
It is the third consecutive month of decline for Australia’s property values. CoreLogic’s home value index dropped 0.6% over July 2020 and the median property value is $552,912. Sydney and Melbourne are still leading the decline in home values at 0.9% and...
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Pros And Cons Of Cash Out Refinance
As many Australians manage the financial strain of coronavirus, cash-out refinance is an option to support households by putting cash in the pockets of Australian homeowners. Cash-out refinancing is when you take out a loan that is worth more than your original mortgage usually...
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NAB’s Home Loan Policy On Post-retirement Repayment Plan
In its commitment towards responsible lending, National Australia Bank (NAB) has revised its credit policies around borrowers who are approaching a retirement age. From 25 July 2020, NAB will ask its customers about how they will manage their home loan repayments after retirement. Therefore,...
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