Author: Otto Dargan
The Fascinating Evolution Of Australian Home Loans
Getting a job, saving a deposit and applying for a home loan to buy your own property is an Australian institution. Today, around 60.8% or $1.5 trillion of total national credit is used for mortgage finance and, in the month of April 2015 alone, a total of 19,045 residential...
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9 Myths About Home Loans Exposed
Getting a home loan is a life-changing decision and nothing makes it harder to take the leap than trying to sort home loan fact from fiction. From the difference of making monthly repayments compared to fortnightly repayments, to the actual cost of using a mortgage broker,...
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bookmarkTags: guarantor, LMI, misconceptions, mortgage brokers, Myths
Is A Fixed Home Loan Actually The Right Choice?
On 6 May 2015, the Reserve Bank of Australia (RBA) cut the official cash rate by 25 basis points to a new historical low of 2.00%. This came as a welcome surprise to borrowers as the cash rate was cut from 2.50% to 2.25% just four months earlier in February. With property...
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bookmarkTags: Banks, Fixed Rate, Home, Home Loan, Interest Rates, Investment, Mortgage, Mortgage Broker, Variable Rate
8 Powerful Reasons You Need A Mortgage Broker
More than a third of Australians intending to take out a home loan said they would use a mortgage broker over going to a bank directly and this figure is likely to rise as the next generation of homeowners begin to enter the property market. That’s according to the 2015...
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bookmarkTags: Banks, Broker vs Bank Manager, First home Buyer, Home Loan, Mortgage, Mortgage Broker
Ticking Time Bomb For Investors
Have you read in the news that Australian Prudential Regulation Authority (APRA) is putting the brakes on loans to property investors? We’ve already seen some major changes in investor policy and pricing but more announcements have been made. In the past week, we’ve...
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bookmarkTags: Banks, Deposit, Government, Investment, Investors, Lenders, News, Property Investment
folderCategory: Bad Credit
bookmarkTags: Bad credit, bankrupt, Home Loan, Part IX
Why Don’t Banks Pass On The Full RBA Rate Cut?
Unless you’ve been living under a rock, you would have heard that the Reserve Bank of Australia (RBA) cut the official cash rate by another 25 basis points to 2.00%. That’s right, another historical low for Australia and a chance for homeowners to breathe a little sigh of...
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bookmarkTags: Banks, Mortgage Broker, News
6 Ways To Damage Your Credit File
Did you know that most of your transactions are recorded on your credit file by credit reporting agencies like Equifax? Around 85% of Australians have never accessed their credit file (Experian Australia) which means that you may have a black mark on your credit file and not...
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bookmarkTags: Credit Score, Home Loan, Mortgage, Mortgage Broker
Have You Answered These 8 Home Loan Questions?
Along with getting married and starting a family, buying your first home is a major milestone in life. There are a lot of things to consider including where you want to live and what type of property you want to live in. That’s the fun stuff. What a lot of people don’t...
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5 Ways To Borrow At A High LVR
5 golden tips to borrow at a high LVR Can you build your genuine savings? Borrowing 90% or more will require you to have at least 5% of the purchase price in ‘genuine savings’ in order to get a home loan with most lenders. For example, you’ll require around...
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bookmarkTags: genuine savings, guarantor, Lenders Mortgage Insurance, Loan, LVR