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…
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…
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…
As a home owner with a mortgage, chances are you’ve heard of the term ‘refinancing’. Refinancing involves reviewing your current mortgage, and changing to another lender with a cheaper interest rate or a loan that better suits your needs. Refinancing can also allow you to consolidate your debts or pay down your mortgage limit. Another…
Australian home loan interest rates remain at historic lows, and the opportunities for paying off a mortgage early are better than ever. Used in conjunction with low rates, here are some extra steps that can speed up loan repayments and reduce your loan balance. Make higher repayments One of the easiest ways to quickly…