Investing in a Holiday Home

It happens every year. You’re strolling down the high street of your local beachside town enjoying a long hot summer with the family when a holiday home in the real estate agents’ window catches your eye. And you start thinking: “If we had our own place, we could go there all year ‘round and instead of contributing to someone else’s financial future we could be contributing to our own”. It’s a tempting thought. That was then…this is now In days gone by,...

5 Tips For Bidding at an Auction!

Bidding for a property at auction can be stressful but you can reduce the stress involved. Before you consider bidding at an auction use our 5 tips to make sure you’re prepared and know what to expect. Step 1: Work out the costs Working out how much you can afford to repay on a home loan plus all the associated costs of buying a property—like stamp duty―is the first step. Of course, buying at auction means the final purchase price remains unknown until...

How Can I Get a Home Loan To Own My Home Sooner?

Owning your own home doesn’t have to be the stuff of dreams. There are several strategies that could help you pay off your home loan sooner. And it doesn’t necessarily mean sacrificing the things you love doing today. The first step towards paying off your home sooner is to understand your loan—how much you owe, how much you are paying and what other financial commitments you have. Once you know where you stand you can start getting smarter with your...

Newcastle Gen Y Investing in Home and Away – Financial

Gen Y has been brandished a generation of non-savers but that is not the reality. Gen Y is saving but unlike earlier generations they are not necessarily saving for a home. Some of that move away from saving for a home comes down to the high price of property, particularly in the major cities. According to the Bank for International Settlements, Australian house prices are the second highest in the world, when measured against income and rent.i But this...

100 Home Equity Loans Bad Credit

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Home loan scam alert

ASIC has warned that scammers are targeting people for bogus home loans and charging up to $5400 in upfront payments to get the loan for them. These unknown broker impersonators have unsuspecting consumers in their sights. ASIC has called for consumers to look for the “classic warning sign” of a loan scam, treating any requests for upfront fees or insurance costs as suspicious, and to pursue loans through the correct channels.​ “Consumers should always...

What costs are involved with buying a home?

buying your first property! When you finally get your deposit together, it’s really easy to get caught up in the moment and forget to budget for the other costs associated with buying your home, so here’s a quick checklist of things to include when planning your finances for your big move. The cost of taking out your home loan: When you take out a home loan, you’ll need to budget for the extra costs involved with getting it set up with the lender. These...

What is wrong with interest only loans?

It seems that they are nervous about Lenders dishing out too many interest only loans. Interest only loans are deemed as risky, mostly because the repayments will go up once the interest only period has finished and that may cause some people issues. There are all sorts of reasons why someone might want an interest only loan, but it’s the appropriateness of the loan and the sheer volume of interest only loans these days that is in question. It’s reported...

New homes and building your home

Over the last 18 months, our hot property markets have been driving rapid increases in home values, particularly in larger markets like Sydney and Melbourne. This has placed established properties beyond the reach of many home buyers and as a result, we have been seeing a corresponding boom in new housing construction across the country. For the year from March 2014 to March 2015, there were 210,484 new dwelling approvals which is a healthy 11.2%...

Do You Need to Refinance Your Home Loan?

The number of people refinancing their home loans has steadily increased over the past few decades. With interest rates at an all time low and with better competitive deals on offer, more customers are looking to refinance their home loan to secure: >> A lower interest rate >> Saving money by reducing your loan repayments >> A more flexible home loan product which offers redraw facilities and an offset account >> A reduction in...