Archives for April 2016

Don’t pay more for your home loans

Select your repayment type wisely To encourage borrowers to make Principle & Interest repayments (and actively reduce their debt over time), many lenders now charge a higher interest rate for Interest Only repayments. Unless you are paying Interest Only repayments on your Owner Occupied loan as part of a broader strategy, you are likely to save money by switching to Principle & Interest repayments. Not only can you save money on a reduced interest rate, but as an added bonus, … [Read more...]

Property Investment: FAQ

If you're thinking about growing a property portfolio, chances are you're looking for answers to the following questions... 1. What am I hoping to achieve by buying investment property? Are you looking for predominately strong rental returns or is your main focus on long term capital growth? Knowing why you want to buy investment property will make it easier to find a suitable property. If you don’t know what you're hoping to achieve, it can be hard to narrow down your choices. 2. … [Read more...]

Improve your chances of a Loan Approval

It's not getting any easier to borrow money. The residential lending environment started to dramatically change late last year when lenders across the board raised interest rates on investment loans. But that was just the beginning. Since then, lenders have increased the minimum living expenses for borrowers as well as increased servicing rates, making it harder for some borrowers to access the funds they require. So, are lenders still lending? Yes they are! However, you need to … [Read more...]

MO’R MORTGAGE OPTIONS makes their MFAA Excellence Awards Mark

MEDIA RELEASE, 19 APRIL 2016 The Mortgage and Finance Association of Australia (MFAA) has announced MO’R Mortgage Options among the finalists for the industry’s annual MFAA Excellence Awards. This is MO’R Mortgage Options first year as an MFAA finalist, nominated in the highly competitive 2016 MFAA Excellence Award Customer Service category. “We are honoured to have been recognised by our industry peers and to have been selected from entrants across the country to be named a finalist … [Read more...]

RBA Interest Rate Decision – April 2016

At its meeting today, the RBA Board decided to leave the cash rate unchanged at 2.0 per cent. Here's part of the statement issued by Glenn Stevens, Governor: Monetary Policy Decision. In Australia, the available information suggests that the economy is continuing to rebalance following the mining investment boom. Consistent with developments in the labour market, overall GDP growth picked up over 2015, despite the contraction in mining investment. The pace of lending to businesses has also … [Read more...]

Adding value to your home by renovating

If you're thinking of undertaking a renovation, make sure you actually add value to your home (and not over capitalise) by taking into account the following - What are buyers looking for? You need to understand the area, what buyers the area attracts (i.e. families vs young couples) and what they could be looking for in a property. You don’t want to go to the expense of adding a room to find out later that buyers really don’t want it and perhaps more importantly, they won’t pay any more for … [Read more...]