Home Loans Articles

Facebook initiative paves the way for free property valuations

Finding out what a property is worth is now as easy as updating your status. For the next six months, RP Data – Australia’s largest provider of property data and analytics to banks, government and real estate professionals – are offering up to three free property valuations per person. And it all happens via the company’s Facebook page.

Calling Gen Y the property market needs you!

Generation Y may yet cast off their slacker image, with new research indicating those born between about 1982 and 2001 will lead the Australian housing market out of the gloom and into a new era of prosperity.

Property investors buoy flagging housing market

Australian Finance Group (AFG) has released data stating that investors are responsible for an unexpected 18.8 percent hike in mortgage sales in May. The figures also revealed that investment buyers accounted for 36.5 percent of the market in the same period.

Housing boost for the Sunshine State

The cost of buying a new home in Queensland is set to ease in about six weeks when the state government's building boost grant comes into effect. But other plans to emerge from the Queensland state budget will mean some residents will pay increased stamp duty.

The real costs of a home loan

Disguised by a league of various names including application, start-up, set-up or up-front fees, whatever you call it, an application fee will always be applied when signing up for a new home. But along with this, what are the other costs, the real costs, of a home loan?

Deposit pressure eases, but borrowers beware

Most prospective home buyers are advised to save at least 10 percent deposit for their future home purchase, but as lenders relax their mortgage criteria and ease deposit pressure, borrowers may be getting in over their heads.

Should you be rewarded for your home loan loyalty?

These days it pays to be a loyal customer. More and more companies, including home loan lenders, are realising the importance of customer retention because of the competitive Australian market. In order to keep their customers from looking and going elsewhere they need to offer further incentives to keep their customers loyal.

Does your mortgage reward your loyalty?

The number of lenders offering loyalty discounts to mortgage customers has almost doubled in six months, as competition in the home loans market heats up. Loyalty discount home loans reward borrowers with a rate discount after they have held the loan for a certain period of time such as one or two years, encouraging continued loyalty.

Home loan wars heat up

As the housing market remains flat, it certainly pays to compare home loans. The major banks are offering discounted interest rates and larger mortgages in a bid to entice borrowers back to the market.

Is your mortgage really an 'award winner' ?

Any foray into the complex world of trying to find the best mortgage is bound to yield an array of products that claim to be award-winning leaders in the field. But as Choice magazine’s Ingrid Just says, it pays to look beyond the gold medals and blue ribbons.

Aussies skip mortgage repayments at record highs

Skipping a mortgage repayment is becoming more common among Australian households, according to new research from Fitch Ratings. The number of homes that missed a monthly home loan repayment set a new record high in the March quarter.

Economic slump will not save us from a rate rise

Homeowners hoping that interest rates remain steady as Australia's export earnings continue to drop look set to be disappointed.

Home loan spotlight Second mortgages

Thinking of taking out a second mortgage? Ask yourself first if you would be better off refinancing and, if you still wish to go ahead, make sure you consider the good the bad and the ugly.

Top mistakes people make when choosing a home loan

Phil Naylor, CEO of MFAA, reveals where you can go wrong trying to find the right mortgage products in a crowded market place.

Home loans for the over 45s now tougher to obtain

Legally, anyone aged over 18 can apply for a mortgage. In reality, lenders are wary of approving older applicants because, to put it bluntly, they need to know you’re going to be around to service the debt.

Is rural Australia the next investment property boom zone?

With many property investors taking advantage of the threat of rising interest rates and other financial factors keeping first homebuyers out of the market, Australia’s rural areas are emerging as an investment hot spot.

Get into your own home sooner

Get into your own home sooner by capitalising your Lenders Mortgage Insurance.

The real cost of defaulting on your mortgage

Skipping a mortgage repayment once per year over the life of your home loan could extend your mortgage by two years and see you paying an extra $33,000 in interest and late fees. That's the cost of defaulting annually on an average 25-year, $300,000 home loan