Can I take a second mortgage for home improvements?

A second mortgage may be handy if you’re looking for extra cash to start renovating. However, there are a raft of pros and cons to consider and a number of alternative financing options may also be available.

When should you buy home insurance?

Home insurance needs differ from household to household, so when should you consider taking out a policy on your property? Consult our handy checklist to learn all about home insurance in Australia.

Will there be rate cuts at the end of 2023? All the evidence we have so far

Given that the full impact of nine consecutive cash rate hikes has yet to be felt by borrowers, the impending mortgage cliff is looming, and the plausibility of a recession is swelling, it’s reasonable to speculate that there may be cuts to the cash rate before the close of 2023.

What could Australia's property market look like in 2023?

Nationally, property prices fell 2.3 percent in 2022 and are anticipated to decline up to a further 10 per cent by December 2023. However, there’s evidence to suggest that the outcome won’t be as damaging as it might seem.

How will home insurance cover water damage?

Every property faces the risk of water damage of some kind sooner or later. However, damage to your home may only be covered if the incident causing it is listed in your home insurance policy. Check the PDS to find out what you're covered for.

Planning a holiday? Check out February's top personal loans

A holiday loan is simply a personal loan you can use to help pay for your trip. This type of loan can offer convenience to travellers wanting to pay for flights, accommodation, insurance and other travel expenses, without having to save up a large sum.

Could you be locked into your mortgage?

If APRA's lending rules were to revert to pre-2019 conditions, existing borrowers may find themselves locked into their current mortgages as it would likely be difficult to refinance with a different lender.

What is the difference between offset and redraw?

Having money in redraw or an offset account lowers the amount of interest you pay each month, enabling you to pay down your loan faster and potentially save thousands of dollars over the life of the loan. The interest savings are the same for both home loan features.

Can you get a home equity loan with low income?

A home equity loan allows you to borrow against the equity in your home. But you need to be earning enough to qualify for one, as lenders want to ensure you can comfortably repay the additional amount you borrow on top of your original mortgage.

What is car rental excess insurance?

Car insurance excess can be expensive. It can also be costly to reduce this amount to zero. Buying car rental excess insurance is an alternative option to consider that may prove to be the most cost-effective solution.