Home Loans Articles

How to boost your borrowing power

As part of the ongoing fallout from the Global Financial Crisis, the banks, building societies and credit unions have progressively tightened their lending criteria much to the vexation of aspiring homeowners.

Home ownership out of reach for families

For many families their own home is their major financial asset; because capital gains on sale of owner-occupied housing in Australia are exempt from taxation, increases in the value of homes has therefore been a vital part of how wealth gets created in Australia for average families.

Should the rich lend to the poor?

As more Australians slip below the poverty line, with a growing number excluded from affordable basic financial services, experts are turning their attention to a new British banking model, which is paving the way for a fresh batch of "ethical" credit unions.

Weddings today are big business

Weddings are more than a celebration of love and commitment – they are also a big financial decision.

What first time buyers need to know

Fewer first home buyers are locking into a mortgage, according to the latest data from the Australian Bureau of Statistics (ABS).

Without a will, what happens to your assets?

Somebody once said that in life only two things are certain: death and taxes. None of us likes to think about getting old or falling ill, but making provision for the worst can save a lot of worry and money for those left behind.

Want a baby? Don't leave it too late

A new report suggests many Australians underestimate when fertility in men and women starts to decline. But if you’re putting off having baby for financial reasons, with a little planning you can prepare to welcome a new member into your family without being confronted with financial stress.

The great variable rate roller coaster

There’s been a huge amount of publicity about the carbon tax for example and its effect on electricity prices. In NSW, for example, it’s been announced that electricity prices will rise by nearly 20% - which is a huge jump for most people, and rightly has many people worried. But the actual dollar impact of that increase will likely be around $25-30 per month for most households.

Not all exit' fees have been banned!

One of the biggest reforms in the home loan market in recent years was the banning of “early exit fees” on variable rate mortgages. Up until last year, many lenders imposed conditions on their variable rate home loans that meant you paid a penalty fee if you wanted to repay the loan in full within a certain time frame – say three years. In effect, this meant some variable rate home loans combined the "worst of both worlds" – they offered no certainty on rates and therefore repayments, but had a "fixed term" element where you faced a penalty to exit.

How to get the most out of a rate cut

Australians love their footy tipping – but we’ve now reached the point where “Reserve Bank tipping” seems even bigger. The Reserve Bank meets on the first Tuesday of the month, and in the days leading up to it, every economist in Australia seems to be making a prediction about what will happen to rates.

Five reasons potential borrowers are rejected

The banking sector has loosened the belt on who qualifies for a home loan since the global financial crisis, yet lenders remain cautious of high-risk prospective borrowers.

Financial stress leads more of us to cheat

Tough economic conditions are fuelling the rapid growth of "cheating websites", research suggests, as thousands of unhappy spouses say they are unable to afford separation.

The best time to compare home loan interest rates

Following home loan interest rate movements in Australia is a full-time job. For most PAYE taxpayers, whose incomes don't typically fluctuate as wildly as interest rates, huge swings in repayments place great pressure on their ability to not only meet their repayments but other expenses too.

Home Loans Guide

Whether you're a first home buyer, refinancing your home loan or purchasing an investment property, we understand that at times comparing and understanding home loan information can feel like trying to decipher Morse code.

Smokers quit for $100,000 reward

There are smoke-free bars, smoke-free restaurants, and even smoke-free prisons. But a smoke-free country?

Understanding the impact of home loan interest rates

We all understand the importance of finding a lender offering competitive interest rates when entering into a home loan however there are other factors you need to consider including, comparison rates, fees and charges.

Can renting make you wealthy?

Australia is a nation of home buyers; around 70 percent of households own their own home, the Bureau of Statistics says. But on the road to financial freedom, is the ball-and-chain mortgage really the best strategy or can renting make you rich?

What should you do with the rate cut?

It's the rate relief news many Australians have been waiting for, as the Reserve Bank of Australia (RBA) cut interest rates by 50 basis points on Tuesday. But it will count for little if the banks fail to pass the cut on, and now millions of Australians are waiting to see what they will do.