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How to have a fixed rate loan, but still have the flexibility to pay your loan off ahead of time

With interest rates at all time low’s, you may be thinking now is a good time to fix your home loan, lock in a low interest rate and protect yourself against any future interest rate rises. If you do fix your home loan one thing to remember is that most lenders will restrict the amount […]

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3 things that have changed about getting a home loan approval

Since 14 December 2017, The Royal Commission into misconduct in the banking, superannuation and financial services industry has brought about sweeping changes when applying for a home loan. In essence the government has an initiated an investigation into how reputable banks and financials services providers have been operating. As a result of this investigation there […]

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Book Review Of 3 Leading Personal Finance Books

1. Rich Dad, poor dad I read this book in my early twenties and certainly challenged my thinking about money. It introduces a great concept of building passive income, and how to generate income without having to work a job everyday. Think earning money while you sleep. The author Robert Kiyosaki is also a big […]

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Why banks may start to increase their interest rates

The RBA continues to leave interest rate on unchanged Interbank lending rates, the interest rate that applies when banks lend to each other, continues to increase. Australia’s banks rely heavily on people depositing their savings with them. These funds are used to fund mortgages and other loans. However, deposits alone are not enough and banks […]

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How often should you refinance and what is involved?

It’s important for you to remember as time goes by, banks change the interest rates they offer. Therefore it makes sense that you would need to review your home loan interest rate regularly. We find that the right time to review your home loan is every 12 months. We do this on behalf of our […]

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5 things you can do to make getting your next home loan approval easier

  With APRA (Australian Prudential Regulatory Authority) continuing to place more pressure on banks to improve their lending standards, mortgage lenders now require more information from customers when seeking a home loan. The below list of items can assist you with preparing for your next home loan application, to give yourself every chance of fast […]

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What we can learn from 2017 and what to expect from 2018

1. Australian housing market continues to defy the odds. Many predicted Australia’s housing market to cool significantly in 2017, and this has largely failed to play out. Apart from certain segments such as mining towns and inner city apartments (Brisbane and Melbourne), prices on a whole have continued to move forward. Sydney and Melbourne house […]

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The simple system to pay off your home loan ahead of time, that I use

When you consider that $50 a week extra into your mortgage can save you $59,850 in interest (based on a $500,000 home loan and interest rate of 4%) it makes sense to setup a system whereby your contributing extra to your home loan without thinking about it. The system I use: I have a home […]

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Should you sell your current home or keep as an investment property? We look at the numbers below

A number of people consider keeping their family home and converting it into an investment property rather than selling it. The following example may help you decide if the path is right for you. Mr & Mrs Cripps have two kids and now realise they need more space. The numbers currently Value of their current […]

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With interest rates this low, should you be fixing your home loan?

With interest rates at records low, many borrowers are considering to fix their home loan. The tricky part is knowing when is the right time to put this in place. Below are four things to consider if you’re looking to fix your interest rate Look at the changes in the current fixed rates, rather than variable […]

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3 things to consider, when switching your home loan

1. The potential saving you can achieve  Current home loan  balance  Interest per month  on current average  variable  rate, 4.3%  Interest per month  on current leading  variable  rate, 3.79%  Potential saving per  month  $250,000  $896  $790  $106  $500,000  $1,792  $1,579  $213  $700,000  $2,508  $2,211  $297   2. The costs to change If you are on […]

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How to use equity in your home for renovations

If you’re thinking of renovating your home, you may be able to borrow against the equity you have, to do so. Equity refers to the portion of ownership in your property that is yours versus the amount that is owed to the bank. For example if your home is valued at $500,000 and you owe […]

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