The smaller banks are now actively fighting back to regain market share post-GFC, with an alternative to a package home loan from the big banks.

The major banks are once again dominating the home loan market. It would be fair to say that most home loans sold by the big banks are packaged products.

In general, you will be offered a low-fee credit card and a fee-free transaction account in your package home loan deal.

With big rate discounts, it's not surprising that package loans make up a large proportion of home loan business written by the banks, with around half of all home loans written as part of a package. The burning question is, does the interest rate saving compensate for the higher fee?

Now that mortgage rates have dropped 40% in one year, the impact of the package discount is even more significant.

More and more Australians are opting for their home loan to be taken as part of a package deal that usually includes credit card and transaction account with the one financial institution.

A simple five-step guide for those looking at buying their first home, with helpful hints and tips.

Here's a breakdown of what fees you could be up for, should you decide to sell, move or refinance.

For would-be first home owners, setting a savings goal for a few years in advance is a must. Do a budget and work out what you can afford to save. After all, there's no point setting your heart on a mansion if you can only afford a cottage. As a general guide, your mortgage repayments should not exceed 30% of your before-tax income.

Buying and renting are both becoming more complicated but sooner or later, you will arrive at the point where you need to make the big decision to remain renting or buy a home of your own.