Home Loans - Page 44
CBA Cuts Max LVR To 90% For Investment Home Loans
Property investors looking to take out home loans through the Commonwealth Bank (CBA) may now need to save larger deposits, after the bank cut its maximum loan-to-value-ratio (LVR) from 95% to 90%. This means they will have to front up at least 10% in cash and/or equity in existing property holdings in order to take out an investment home loan with CommBank. For example, a $300,000 investment home loan will now require a $30,000 cash deposit rather than a $15,000 deposit. Alternatively, property investors could utilise equity in their existing property holdings to offset the LVR requirements. The change is solely aimed at … Continued
NAB Announces Home Loan Rate Changes
National Australia Bank (NAB) has raised variable interest rates on some home loans for owner occupiers and residential investors.
Federal Government Establishes Housing Affordability Taskforce
The Turnbull Government announced on Friday the creation of an Affordable Housing Implementation Taskforce, which aims to develop an affordable and social housing proposal for Australia. The taskforce aims to create a bond aggregator model to attract greater private sector investment and create more affordable housing across the nation – a similar model to the one successfully implemented in the UK. According to a press release from Treasurer Scott Morrison’s office, the establishment of the taskforce was based on conclusions reached by the Affordable Housing Working Group in 2016. The Group’s recommendations were endorsed by state and territory treasurers at the … Continued
6 Home Loan Questions & Myths Explained
CANSTAR busts the common misconceptions about home loan interest rates.
How Will Mortgage Hikes Impact Business and Consumer Behaviour?
Rising mortgage rates and falling savings account rates pose a threat to Australia’s economy. For years, the indefatigable Australian economy and its underlying model served as a shining example to countries throughout the Western world. The country is even on the cusp of breaking the Netherlands’ record of 26 recession-free years. But is the party about to end? Over the 2016 September quarter, Australia’s economy recorded a 0.5% contraction – the worst fall in gross domestic product since the global financial crisis. Also, the base interest rate in Australia is at a record low of just 1.5% – down from an … Continued
How to change your mortgage repayment amount or frequency of repayments
If you wish you could pay off your home loan faster, you can change the frequency of home loan repayments or change mortgage repayment amount.
Pre-Christmas Increases to Variable Rate Home Loans
Over the past month a number of lenders have made moves on their variable rate home loans. Find out who…
Realestate.com.au to offer home loans in 2017
REA Group has announced a partnership with NAB to allow its popular property website to offer realestate.com.au branded home loans. The Australian digital advertising company has entered into a 5-year strategic partnership with National Australia Bank (NAB) to develop an Australian-first “innovative end-to-end digital property buying experience”, according to an ASX announcement. This integrated digital home loan experience will allow realestate.com.au users to apply for a range of NAB home loans, as well as a “realestate.com.au branded white label product” and a panel of other lenders. NAB will fund the development of the digital experience which, once complete, will allow REA … Continued
Can You Use Your Credit Card For A House Deposit?
There are a number of different payment methods that can be used when paying for a house deposit, but is a credit card one of them?
Lock It In, Eddie: 1 In 5 Borrowers Fixing Their Mortgage
A number of lenders have raised rates on their fixed rate home loans over the past month. Is it time you fixed your mortgage before it's too late?
Cost of $1 million home loan
Median house price in Sydney has broken through the $1 million barrier, it′s absolutely vital to have a cheap home loan. By cheap, we mean great value.
10 things to pay attention to when you’re buying a house
When buying a home, be clear on what you want right from the start but make sure you read CANSTAR's 10 red flags first to avoid a catastrophe.
Pros and cons of buying an investment property
Should you buy an investment property? Why buy an investment property?
First Home Buyers: The Winning Institutions
If you're a First Home Buyer, which institutions offer outstanding value
How much deposit do I need for a home loan?
The size of deposit you can save to buy your first home (your LVR) makes a big difference to the interest rate you pay on your loan. Here's how LVRs work.
First home buyers at lowest level for years
ABS Housing Finance statistic reveal a lack of first home buyers
How much could you borrow? Borrowing Power Calculator
Find out how much you could borrow in a home loan at different interest rates. Try out the CANSTAR Borrowing Power Calculator.
4 ways to reach your first home finish line
Saving up for that first home isn’t easy – especially during these days of unreasonably high house prices. ME Bank Head of Home Loans Patrick Nolan has four tips to share with you to help beat first home buyer fatigue. If you’re saving for your first home, the current period of low interest rates might have been driving you towards getting that mortgage sooner rather than later. You were doing so well – working hard for the money and avoiding many expensive temptations – until you heard last week’s decisions by all of the big four banks to raise their variable … Continued
Tax traps for parents in selling to their kids
Tax accounting firm, H&R Block, has warned parents to be careful when helping their children into their first property, particularly if it involves the sale of an investment. According to the firm, the combination of rising house prices and Boomers beginning to reach retirement and possibly wanting to free up some cash has resulted in more parents selling their own homes or investment properties to their children. “Many parents are resorting to selling their investment properties as a means to helping get their kids into their first property,” says Regional Director of H&R Block, Mr. Frank Brass. “But there are hidden traps … Continued
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Important Information
For those that love the detail
This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.