Mind the interest rate gap Over the past twelve months or so, a significant interest rate gap has opened up between different types of loans. This has been driven by regulatory changes to reduce investment and interest only loans. Banks and lenders responded by increasing rates on investment loans and interest only loans. Increases have been […]
Home Loan-Useful stuff to know
Ten things to know about your home loan A home loan is both simple and complex. The overall concept is easy to understand. You borrow money and buy a property. You pay the loan back in small amounts over a long period of time. Within this simplicity are a million complexities. Here’s ten to think about: […]
Guarantor Home Loan
Guarantor offering cash rather than property to guarantee a home loan A typical scenario is a first (or subsequent) home buyer wanting to buy a home. They have enough cash saved to pay the purchase costs such as stamp duty, but not the deposit. A close family member, often a parent is willing to go guarantor by offering a property […]
First Home Buyer
Tasmania- $20,000 First Home Buyer Grant and Boost is back The Tasmanian government announced last week they are increasing the first home buyer grant for new homes from $10,000 to $20,000. The higher amount comes into effect on the 1st July 2016 and runs until 30 June 2017. It will then revert back to $10,000. The […]
RBA Rate Cut vs Borrowing Power
Yesterdays RBA Rate Cut vs Your Borrowing Power You’re probably all aware that the RBA rate cut reduced the cash rate by 0.25% yesterday. The first RBA rate cut in a year. There are two possible implications of this move; Will house prices increase because people can borrow more money? Will house prices increase because […]