Home Loans - Page 38
RBA cuts as coronavirus worsens: How will it impact the economy, property market and interest rates?
Following heightened speculation that the Reserve Bank would pull the trigger on interest rates today, the cash rate has been cut to the historic low of 0.50%. But with the impact of coronavirus now on Australian shores, will this move actually make much difference to our economy and property market? How will the cash rate impact the economy, property market and interest rates? Image source: Michael Jung (Shutterstock). The spread of coronavirus dominated discussions about the Reserve Bank of Australia’s (RBA) latest cash rate decision in recent days. Several economists and commentators said the bank’s Board should vote to cut after … Continued
Dual-income properties: Double the income or twice the effort?
One property, two incomes. It can sound like a smart investment strategy, but it pays to know exactly what a dual-income property involves. Find out more.
Want to have it made in the shade? 8 pergola designs to help keep you cool
Just because the sun is blazing down, doesn’t mean you should stay indoors. With a pergola, the gap between enjoying summer and keeping cool can be bridged. If you are after inspiration, take a look through our list of eight pergola design ideas. What is a pergola? Pergolas are a garden structure that provides shade, usually via overhead crossbeams rather than a solid roof, according to renovation website renoguide.com.au. Though thought to be originally from Rome after English writer and gardener John Evelyn mentioned them during his trip to Italy in 1645, pergolas are said to have originated in Ancient Egypt … Continued
Hannah's legacy: Pool safety doesn't stop at the fence
Find out why pool safety and pool fences are so important in Australia, and learn more about pool safety regulations and the cost of a fence.
12 design ideas to jazz up your humble garden shed
If the humble shed in your backyard deserves a makeover, we’ve got 12 design ideas and inspiration to do some of the heavy lifting for you.
First Home Loan Deposit Scheme banks: lowest variable loan rate from each lender revealed
House hunters who initially missed out on a place in phase one of a new fee-slashing government first home ownership scheme now have a second chance. A further 7,000 places have been released, this time accessible through more banks. But which lenders are offering the lowest loan interest rates? We take a look. In its first month, 3,000 keen first-time home buyers were granted a coveted reserved spot on the Federal Government’s First Home Loan Deposit Scheme (FHLDS). The scheme, which began on 1 January, 2020, can help reduce loan set-up costs for successful applicants by replacing the need to pay … Continued
CBA scheme pays mortgages for 1 year if customer, their child or partner, dies or becomes terminally ill
What would happen if your partner died or you became so ill that you couldn’t afford your home loan? Today, a major bank announced most of its home loan customers would not have to pay their mortgage for “about 12 months” if the worst was to happen. Image: otnaydur (Shutterstock) Commonwealth Bank’s new Home Loan Compassionate Care policy would see customers’ mortgages paid for “around 12 months” if their partner or one of their children died or was diagnosed with a terminal illness. The cover, underwritten by insurer AIA, is free and automatically kicks in from today for existing and new … Continued
ANZ slashes rates to new low as banks wage home loan war
ANZ is the latest bank to launch a rate cut missile, as the home loan rate war heats up. One finance expert says it’s the latest volley in a rate war raging because banks are “jockeying for market share” in a “supercharged” market. Effective today, ANZ’s cuts to its fixed-rate loans make one of its package deals register as the lowest rate on Canstar’s database of more than 4,000 home loan products from more than 100 lenders. The two-year fixed owner-occupier home loan for borrowers paying principal and interest now has a package rate of just 2.68% (comparison rate 4.40%). The … Continued
9 design ideas for your outdoor kitchen
Outdoor kitchens combine traditional Aussie barbies with the convenience of items usually seen in an indoor kitchen. We look at some options.
Hopeful singles lining up to buy their house with the Federal Government’s help
Single people wishing to buy their first house are snapping up places in a scheme designed to help people step onto the property ladder sooner. More than 60% of applications so far for a place on the First Home Loan Deposit Scheme have come from solo buyers, with one finance expert saying the Federal Government program could help bridge the ‘savings-power gap’ for single-wage households. The First Home Loan Deposit Scheme (FHLDS) is designed to help people with a deposit of as little as 5% buy their first house without paying Lender’s Mortgage Insurance. This could potentially save buyers thousands of … Continued
Investing in property or shares: Which is better?
Property or shares? Some people love the perceived stability of property, whereas others are more comfortable with shares. Which is better?
How to invest in property for $100 a week
Buying an investment property that costs you $100 per week is possible, shares property expert Peter Koulizos.
CBA signals push to grow its investment home lending market with rate cuts
Australia’s largest bank has cut a range of home loan rates, including big reductions for investors, signalling it could be pushing for growth in the investment lending market. Source: Nils Versemann (Shutterstock) Commonwealth Bank has cut up to 0.30 percentage points off its one, four and five-year fixed home loans for owner-occupiers and as much as 0.50 percentage points from its one, two, three, four and five-year fixed investment rates, effective today. Residential home buyers could now apply for a package loan with principal and interest repayments fixed at 3.19% for five years with the major bank (comparison rate 4.26%), which … Continued
What are school catchment areas?
School catchment areas are a hot topic of conversation, and being aware of how catchment zones work could be important. Find out more.
How using an offset account could save $66,000 in mortgage interest
A mortgage offset account can be a great way to pay off your home loan faster and potentially save tens of thousands in interest. Here’s a look at how offset accounts work. Over her long career as a TV money commentator and national newspaper columnist, Nicole Pedersen-McKinnon has learned a thing or two about the potential traps of mortgages and ways Australians can avoid them. She put that knowledge to good use and paid off her mortgage in seven years. In her book, How to Get Mortgage-Free Like Me, Ms Pedersen-McKinnon shares the strategies and shortcuts she used to ditch her … Continued
These are the highest paying tradie jobs in Australia right now
Which tradies get paid the most in Australia? Find out today.
Key Considerations When House Flipping Your Investment Property
If you’ve looked into property investing you may have come across the term flipping houses. Popular reality TV shows may make it look glamorous and exciting, but if you don’t do your due diligence your house flip may quickly become a house flop. If house flipping is on your investment to-do list, read on for some important considerations before you begin… Do Your Research. Take Your Time. The contestants on The Block make it look so easy, so you’ve decided to give the ol’ reno a go for yourself. Don’t just jump at the first fixer-upper property you find. With house … Continued
Pool fences: 5 stylish ways to keep your kids safe
Pool fences play a major part in keeping children safe in Australia, but are there different styles? We explore what types of fences there are and how much they will set you back.
What impact could a RBA cash rate cut have on borrowers and savers?
Australia’s central bank is tipped to cut the cash rate at least once this year, so we’ve crunched the numbers to see the impact that could have on Australian hip pockets. Hint: homeowners could get even more rate relief, while savers’ income will likely continue to slide. The Reserve Bank of Australia (RBA) board decided to leave the cash rate on hold at 0.75% at its first board meeting of the year on Tuesday. This decision was generally expected, given the economic impact of the bushfires as well as the coronavirus outbreak still unfolding, which may require the RBA to use its … Continued
Top property locations for profit in Australia: Report reveals best performers for capital gain
People selling property in Hobart could be the most likely to make a profit, new research shows. Find out which council region in your city delivered the most reliable gains in 2019. Hobart experienced the highest proportion of properties that sold at a profit during the September quarter of 2019. Image source: Ekaterina Kamenetsky (Shutterstock). One way to spot a strong local housing market is to check how many properties are reselling at a profit, according to research house CoreLogic. They just released the Pain and Gain report for the September quarter of 2019, revealing the top property hotspots around Australia … Continued
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This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.