Home Loans Articles

Rudd tells home buyers to stand on their own feet

When it comes to home loans, the Australian government isn’t prepared to hold consumers’ hands anymore, and home buyers are expected to rely on their own decisions, according to Prime Minister Kevin Rudd.

Mortgage trends Basic is in, fixed is out, and capped is hot

Despite a recent string of rate hikes, borrowers are shunning fixed rate home loans. The latest ABS figures on housing finance show that demand for fixed loans fell by more than 10 percent, with fewer than 6 percent of homebuyers locking into a fixed rate.

Loan portability Take your mortgage with you and save

The ability to transfer your home loan from one house to another, without having to fork out for the usual set-up and exit fees, is an increasingly attractive loan feature. Loan portability, as this feature is known, is available on a growing number of home loans.

Offset versus redraw the winner is -

When you’re paying off a home loan, it doesn’t always make sense to hold savings in an interest-bearing account. Redraw facilities and offset accounts let borrowers use their spare cash to whittle away the mortgage. But which option offers the biggest savings?

When a cheap home loan could be costly

Not surprisingly, borrowers often make the interest rate their key point of consideration when shopping for a home loan. But a low rate doesn’t always offer the best deal

Is it too late to switch to a fixed rate home loan?

Interest rates have begun their upward climb, sending a collective frown across the foreheads of Australians with a home loan. The question of fixing your home loan’s interest rate or taking a punt with a variable rate is no doubt rearing its head with increasing frequency.

2010 Hotspots Biggest property bargains revealed

A report of Australia’s cheapest property areas reveal ’hotspots’ for price growth that are almost $400,000 less than median house prices across the country. These bargain properties are fodder for investors, and home buyers wishing to own a property outright as soon as possible.

Bricks and boards - Construction loans solve housing shortage

Many home loan borrowers are now considering taking up construction loans to save on costs and help with building more homes for future generations. The housing shortage is crippling Australia, according to experts who believe that the undersupply of properties will cause future suffering for home buyers.

Interest rates to hit 5 percent in 2010

The recent interest rate rises may be just the beginning of a long climb for home loan rates, with economists predicting that the Reserve Bank cash rate will rise to 5 percent by Christmas 2010.

Summer buying Now is the time to find a home and borrow

Summer is a season for family gatherings, beach holidays and long, lazy afternoons. For savvy home buyers, it may also be a good time to snap up your dream home and score the best home loan deals on the market.

What is a redraw facility?

What is a redraw facility?

Home loan types - The feeble saver

RateCity has identified three types of borrowers that have a variable home loan. The second is the "Feeble Saver" who only pays their minimum requirement off their home loan each month.

Home Loan Types - The Prudent Saver

RateCity has identified three types of borrowers that have a variable home loan. The first is a "prudent saver" who makes the same higher repayments after interest rates drop.

Home loan types - The partial saver

RateCity has identified three types of borrowers that have a variable home loan. The third is the partial saver adds half their money saved to their variable home loan repayments when interest rates fell and spend the other half.

How will first home buyer cap affect you?

Buyers’ Cap, which forces future buyers receiving the First Home Owners Grant (FHOG) to keep under a price limit. Those who are planning on taking a larger home loan will have to look elsewhere to save.

Don't be wooed by home loan goodies

In this era of new austerity, home loan customers are sticking to the basics. While the housing market remains strong thanks to historically low interest rates and the First Home Buyers Grant, people are very cautious

What do Australian credit laws do for you?

Australia has a variety of rules, regulations and laws in place to help protect citizens and their personal finances when they’re borrowing money. There are protections in place for credit card, car loan and personal loan customers, as well as for borrowers taking out a mortgage.

Packaged Home Loans

Many financial institutions offer packaged home loans where you are signed up to a home loan as well as other financial products, such as a credit card and transaction account, with the same bank. With multiple products you may receive a discount on one or more products.