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Home / 2019 / Archives for May 2019

Archives for May 2019

Fixed Rate Loan Break Costs

So, you’re thinking of refinancing to another lender to take advantage of some attractive interest rates (and refinance rebates) you’ve seen being offered. The thing is, you have a fixed rate loan. And as a borrower with a fixed rate loan, you already know that your fixed rate loan essentially locks you into an agreed interest rate and specific repayment for a set period of time “the fixed term.” And you also know that if you refinance this fixed rate loan, it’s likely you’ll incur ‘break … [Read more...]

Will the RBA cut the cash rate in June? (Published 29 May 2019)

31 consecutive meetings. That's how long the RBA has kept the record low official cash rate at 1.5%. All the way back to August 2016. Will this streak remain uninterrupted? Or are we heading towards a change? Speculation has hit overdrive that the RBA will make a rate cut when it meets next week. Here we examine the main reasons we may see a cut to the official cash rate and what a rate cut could mean for you and your home loan.   Inflation reasons Australian Bureau of … [Read more...]

Will the First Home Loan Deposit Scheme actually help first home buyers? (May 2019)

It often take years for the average household to save 20% deposit for their first home to avoid paying Lender’s Mortgage Insurance (LMI). As a way to help first home buyers get into the market, the government has announced a new scheme which promises to drastically reduce that time by lowering the deposit required to just 5%. We've been fielding lots of questions about this new scheme - like the ones below - so thought it would be helpful to share our responses here.   Can this … [Read more...]

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