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Going, Going, Gone. Your guide to buying Canberra property at Auction.

You've found a property you like and it's being sold at auction. You're super excited because you've been looking at houses for ages and finally(!) something ticks all the boxes. The problem is, you're a little nervous because your previous experience with auctions consists entirely of ebay purchases.... But you really  like the house, so it's time to get up to speed with property auctions. We've compiled a list of things to do before (and on) the day of Auction to help ease your stress … [Read more...]

RBA Interest Rate Decision: November 2017

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's part of the Media Release issued by Phillip Lowe. Growth in housing debt has been outpacing the slow growth in household income for some time. To address the medium-term risks associated with high and rising household indebtedness, APRA has introduced a number of supervisory measures. Credit standards have been tightened in a way that has reduced the risk profile of borrowers. Housing market … [Read more...]

Unimproved Land Values in Canberra. How does your suburb compare?

What is the "UV"? The Unimproved Value (UV) of a property is the value of a block of land before any improvements are made to it. In other words, it's the amount the land is worth before any buildings, fences, driveways or anything else is added to it.  How is the UV determined? Locally the UV is determined by the ACT Revenue Office and each year, the figure is reviewed and adjusted for any capital growth. This review process takes into account recent sales of similar properties in … [Read more...]

Q&A: Fixed Rate home loans – When are they a good idea?

When are Fixed Rate home loans a good idea?  Find out here. … [Read more...]

Have 10 minutes? That’s all you need to improve your finances

We completely understand you’re busy with life. There’s too much to do. Not enough time. You simply could not fit another thing in. But what if taking 10 minutes out of your day to gather a few bits of information - you can even have a cuppa at the same time - meant you could save money? What if spending 10 minutes answering a few questions about your financial situation meant you could take your family on a holiday this year?  Or it allowed you to treat the kids (and yourself) to … [Read more...]

Switching from Interest Only to Principal & Interest Repayments can be a good move, especially if you’ve considered these things as part of your strategy

Choosing Interest Only over Principal & Interest repayments on your home loan used to be an easy decision. Interest Only repayments offered flexibility, the ability to pay your loan off on your own terms and you weren't charged a higher rate of interest for the privilege. If you’ve been keeping up with what’s been happening lately, you'd know the lending environment has significantly changed and Interest Only repayment loans aren't what they used to be. Lately we've been talking to … [Read more...]

Buy your first home without a large cash deposit. Here’s how you can do it too.

If you're having trouble saving enough money to buy your first home, maybe there's another way... You’ve been working for a while now and earn a good income. But between paying off your HELP debt, meeting your rent and having the odd weekend away (to attend yet another wedding), you’re finding it hard to save your house deposit. Everything you read says you’re supposed to have 20% deposit and as house prices continue to rise, with each passing month that elusive 20% target seems to get … [Read more...]

RBA Interest Rate Decision: October 2017

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's an extract of the Media Release issued by Phillip Lowe. Growth in housing debt has been outpacing the slow growth in household incomes for some time. To address the medium-term risks associated with high and rising household indebtedness, APRA has introduced a number of supervisory measures. Following some tightening in credit conditions, growth in borrowing by investors has slowed a little … [Read more...]

Interest Only Vs Principal & Interest repayments: Home Loan Review Case Study

Not sure what's the point of a home loan review? Here's an example of what we recently discovered as part of the home loan review we conducted for experienced property investors. These investors had multiple loans with one lender and one of their Interest Only loans had an Interest Only term that was due to expire. These clients asked us to conduct a review of their loans because they wanted to know how their existing loans compared to what else was available.  Having chosen Interest Only … [Read more...]

Is a Family Guarantee loan the right one for me?

What is a family guarantee loan? A family guarantee loan is where a family member - usually your parent(s) - uses equity in their property to help you purchase your new home. It's a way to get into the property market without a large cash deposit and in some cases, you don’t need much in the way of savings at all. A family guarantee loan allows you to avoid paying Lenders Mortgage Insurance, as the loan will be no more than 80% of the total security offered to the lender. How does a family … [Read more...]

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