Articles (All) - MO'R MORTGAGE OPTIONS

How could new BNPL regulations affect your ability to get a home loan?

How could new BNPL Regulations Affect Your ability to get a home loan? From 10 June 2025, significant changes have come into effect for Buy Now, Pay Later (BNPL) services in Australia. Previously BNPL services were able to operate outside the National Consumer Credit Protection (NCCP) Act, but are now subject to the same regulations as credit cards and personal loans. The changes are designed to enhance consumer protection and ensure responsible lending practices, which is a positive move. … [Read more...]

Interest rates may have fallen, but repayments seem to be on hold.

If you're a homeowner, 2025 is already looking a little friendlier year (maybe?!) than the rollercoaster that was 2024. We’ve already had two Reserve Bank rate cuts so far this year, and there's chatter from economists that more could be on the way. This is good news if you too have been feeling the pinch of increased living costs. Despite homeowners wanting more funds left in their pockets at the end of each month, plenty of Aussies have chosen (so far) to keep their repayments right … [Read more...]

Common mistakes for first-time homebuyers. Are you making them?

What are some common mistakes first-time homebuyers make? As a first home buyer, you’ve got quite a lot on your plate. You’re trying to understand your finance options, stay on top of all the new listings, attend as many opens as you can, all whilst managing an already packed work-life schedule. If you don’t have the right support as a first home buyer, it’s easy to make mistakes. Here are the most common mistakes made by first home buyers, so you can be sure to avoid them. 1. Not Getting … [Read more...]

What is Equity? Do you have any? And how could you use it?

If you own property, you may have encountered the term "equity." Here we explain what it is, how to calculate it, and what it can be used for. What is Equity? Equity is the difference between the current market value of your home and the outstanding balance of your mortgage. Essentially, it represents the portion of your property that you truly own. Over time, equity typically increases as your property appreciates in value and as you pay down your mortgage. How much Equity do you … [Read more...]

Refinancing your Home Loan: Is It Worth It?

Whilst the Reserve Bank of Australian (RBA) left rates on hold earlier this month, homeowners haven’t let that stop them from securing better rates. Increasing numbers of borrowers are taking action themselves to secure a lower rate by refinancing. Are you thinking of refinancing too? As we talked about here, February's 0.25 rate cut provided some much-welcome relief to home owners across the country. The rate drop boosted consumer sentiment around household finances, which is … [Read more...]

Finally, an interest rate cut!

After speculation for so long, the Reserve Bank of Australia today cut the cash rate by 25 basis points to 4.10%. What does this mean for you and your loan? This is the first rate cut we've seen in 4 years. The last time the Reserve Bank of Australia (RBA) cut the cash rate, it was Nov 2020 and we were in the midst of a COVID-19 outbreak. Since then, we've seen 13 rate hikes - each one an attempt by the RBA to curb inflation. Today we feel a little relieved. (What about you?!) We … [Read more...]

This has helped 200,000 Australians buy a home. Can it help you too?

If you’re looking to purchase your first home, you'll want to understand how the Home Guarantee Scheme works because it might just help you purchase your first home sooner than you thought possible. We all know that saving 20% cash deposit to buy your first home isn’t easy, and often takes a bit of time. According to recent data from CoreLogic, the average time it takes for a first home buyer to save a deposit is now 10.6 years. The First Home Guarantee Scheme (HGS) can help you reduce … [Read more...]

How to finance a home renovation

Do your plans for 2025 include things like a new bathroom, a kitchen upgrade or perhaps even a whole new backyard (that may/may not come with a pool)? If so, let’s look at the different ways these projects can be financed so you can get an idea of what’s possible for you this year. Use cash saved in your offset account (or redraw funds in your home loan account) You may have cash saved in a home loan offset account. Or, perhaps as a result of paying more than the minimum loan … [Read more...]

Can a late credit card repayment impact my chances of buying a home?

Can a late credit card repayment impact my chances of buying a home? Short answer: yes. Since the introduction of Comprehensive Credit Reporting (CCR), lenders have access to more information about your credit and repayment history than ever before. This means that one seemingly small blemish on your credit report (i.e. a late credit card repayment perhaps) can impact your chances of getting a loan approved. Whilst it has always been important to pay your bills on … [Read more...]

Where’s the best place to get mortgage advice?

House prices and interest rates have always been hot topics around the proverbial water cooler. ‘Now’s the perfect time to buy!’ ‘There’s a property crash coming.’ ‘Don’t go with this lender, they’re terrible.’ But now with increased social media posts tagged with #mortgage or #tiktokmademebuyit, increasing numbers of Australians (especially Gen Z’s) are taking action on their finances based on content they’ve consumed online. If content creators are qualified - and actually know … [Read more...]

Before you return that phone call from “Lenny” the lender, please read this

We’ve spoken to a few clients recently who have received phone calls from their lender. It all starts out innocently enough. ‘Lenny’ wants to know if you’re happy with your current loan. He wants to know if things are all ticking along as they should. And he wants to know if there is anything he can help you with. The next thing you know, you’ve been locked into a fixed rate loan you weren’t sure you actually wanted or you’ve somehow agreed to increase your credit card limit. We don’t … [Read more...]

Property Separation: What do I need to do?

You purchased a home with your partner some time ago. Whilst everything was working out initially, it soon became clear that it wasn’t going to last. You’ve now separated but not sure how you’re supposed to deal with the property you own together and not sure what happens to the joint loan you have. Here are a few things we suggest you keep in mind as you navigate a property separation. Enlist the help of a family law specialist Whilst things might seem to be going amicably … [Read more...]

Will the property market spring into action this Spring?

Spring is traditionally a busy time of year for the property market. Sellers start manicuring their lawns getting their homes ready for sale. And prospective buyers start venturing out to open homes, happy to emerge from their winter hibernation. So what's in store for us this Spring? Let's look at the historical data first... If we look at trends over the past decade, Corelogic shows that Spring listings across the country increase on average by 18.2% when compared to … [Read more...]

Does your job come with home loan privileges?

We all know that different jobs come with different perks and/or benefits, with some being more generous than others. But did you know your occupation might also give you special incentives from lenders? When it comes to home loans, certain occupations often enjoy more favourable treatment from certain lenders. If you’ve already spoken to your local bank and were disappointed with how much they would lend you, come talk to us. Because we may know of a lender who can offer you more … [Read more...]

If you can nod your head to any of these scenarios, it’s time to review your home loan

We all know that it's a good idea to review home loans regularly. But like reviewing insurance policies, it seems to be something we put off because we 'don't have time' or our loan seems to be ticking along ok. The reality is though, just because everything seems ok, it doesn't mean it is. In fact, even if you are comfortably meeting your loan repayments, there's a good chance you're paying more than you need to - simply because you've never felt an urgency to look more closely into … [Read more...]

Buy a house with only 5% deposit? Yes, it’s possible with the First Home Guarantee Scheme (FHBG)

Buyers are ignoring the advice it can take years to save for their first home deposit. Instead, they’re taking advantage of government schemes - like the First Home Guarantee Scheme (FHBG) - which allows first home buyers to get into the property market with as little as 5% deposit. National Housing (previously the National Housing, Finance and Investment Corporation - NHFIC), which runs the federal government guarantee schemes, reports that in 2022/23, almost one-in-three first home … [Read more...]

What does a mortgage broker do? Why use a mortgage broker?

What does a mortgage broker do? Why should you use one? If you’ve not used a mortgage broker to help with your loans before, you might be wondering how they can help you. After all, can't you just talk directly with the bank to arrange your loan? Well, yes. Technically you could. But with 74.1% of home buyers choosing to work with a mortgage broker instead of talking directly to a lender, here are a few reasons you should consider working with a mortgage broker too. As mortgage … [Read more...]

Why haven’t interest rates fallen yet?

Only last week (18 June), we saw the Reserve Bank of Australia (RBA) announce the cash rate would remain unchanged, yet again. (If you were a little surprised by the rate announcement and thought the RBA only met at the start of each month, you can read our post about the new RBA meeting schedule here.) The cash rate hasn’t changed since November 23 and given the RBA isn’t due to make another decision until August, the cash rate will remain as-is, on ice, at least until 6 August. But … [Read more...]

The Federal Budget 2024

Has the release of the federal budget this week has left you thinking,"What about me?" Depending on what you're looking to do, here are a few things you might want to investigate further. 1. Looking for help to buy your first home? Whilst there wasn't much in the way of additional support for first home buyers, the existing incentives/schemes for first home buyers are still available. To work out what you might be eligible for, we suggest you look into: - The Home Guarantee … [Read more...]

I want to upgrade my home. Do I need to sell or can I keep my current property?

You're starting to feel you've outgrown your current home. You have started to look into options for something bigger. But you have questions... Can I buy something new and still keep my current home? Do I need to sell first before I can buy another property? How does the financing - and timing of it all - work? Whilst the answers to these questions will entirely depend on your personal financial situation, here are a few things to think about. Can I buy something new and … [Read more...]

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