If you’re over 60, own your home and need to access money, releasing equity from your home may be an option. How home equity release works ‘Equity’ is the value of your home, less any money you owe on it (ie your mortgage). ‘Home equity release’ lets you access some of your equity, while you…
Fixed rate terms on your home loan last for a set period of time that is prearranged between you and your lender. Fixed rate periods generally last between 1 and 5 years. When your fixed rate term ends, your loan will usually revert automatically to the standard variable interest rate unless you have provided instructions…
In NSW stamp duty is changing for first home buyers and it’s a little confusing! Here’s an easy summary: o Properties upto $650,000 there are no changes. First home buyers are still exempt from stamp duty o Between $650,000 – $800,000 you now have a choice of paying the reduced stamp duty for first home…
So, you’re thinking about taking another step on the property ladder and purchasing an investment property? Congrats, it’s time to celebrate! But before you do, we recommend doing some research to further understand your current position and what property investment means for you. Here are 5 questions to ask yourself before buying an investment property.…
Do you want to build your property investment portfolio, but unsure how to go about it? One option to consider is buying an investment property in your superannuation fund. Investing in property through your super is growing in popularity, but it’s important to understand how the process works. Here’s what you need to consider: First,…
There is more to selling your home than putting up a ‘For Sale’ sign on your front lawn. Here are the first things you should check off your list to help you get a favourable result from your investment and to ensure the process runs as smoothly as possible. Choose a quality agent Asking family…
Considering transforming your home from ‘boring’ to ‘brilliant’, but lack the funds to support your makeover? Never fear, we’ve listed your five home renovation finance options that could help turn your dream into reality. 1 Equity Release / Top Up Home Loan This is probably the most common way people borrow money when they want…
The barriers a first home buyer faces when entering the property market are well documented. So, will the government’s new First Home Loan Deposit Scheme (FHLDS) help, or not? Here’s a guide to who’s eligible, how it will work and what the new scheme may mean for the housing market. How does it work? Under…
Another month, another rate cut. Finance can be so tedious. That is until you realise it could mean more money in your pocket. But how? For many, matters of personal finance are so dull and/or difficult, they are immediately filed in the too-hard basket. Unfortunately, these people are often slugged with a ‘lazy tax’ – the…
If you applied for a home loan in the current financial environment, your lender would probably assess your application in the context of both your credit score and your credit history – on top of your income, assets, liabilities and living expenses. Your credit score is a number calculated by a credit-reporting agency, which compares…