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Basic vs Packaged. Fixed vs Variable. What loan should you get?

You're getting ready to lodge an application and looking into the different types of options available. But you're starting to feel a little overwhelmed. Basic vs package, variable rate vs fixed rate... what should you choose? What’s going to fit best with the way you like to manage your money? To assist with your research, here we outline the pros and cons of different loan types available. Basic Variable Rate Loan With a basic variable rate loan, you get simply that – a simple loan (with … [Read more...]

Lenders tighten lending ratios

Some of Australia’s biggest banks have tightened their lending ratios recently, by reducing the maximum amount they’ll lend to homeowners. But before you start worrying you'll never be able to buy a home, let's take a closer look to see whether this will actually impact you and your next purchase... You may have seen in the news over the last month that lenders have lowered the maximum debt-to-income (DTI) ratio. This ratio is a measure of how much debt a household is taking on, as a … [Read more...]

Increasing Interest Rates: What can you do about it?

After so much talk for so long, it's finally happened. Variable interest rates have increased. And not just once, but twice over the last few months. Now that we've started to see increasing interest rates, let's take a look at how this will impact you. And also, what you can do about it.   First things, first. Let’s work out the impact of increasing interest rates If you have an existing variable rate home loan, the rate hike is going to increase your monthly repayments. Whilst … [Read more...]

Variable or Fixed? Maybe there’s a third option… (and it’s not what you think)

With constant media chatter about interest rates rising, we’re having lots of discussions with clients about the decision to fix all (or part) of their borrowings. And just like with any other aspect of your mortgage, what's best for you is going to depend entirely on your personal circumstances. Below we outline a few things you may not have considered when weighing up the fixed vs variable decision. We also outline a strategy you may not have considered - the “quasi-fix.”   So, … [Read more...]

Why does it cost so much (and take so long) to build right now?

If you’ve been house hunting for a while (and keep missing out on auctions), you may have thought about changing strategies and renovating and/or building a new home instead. And you’re not the only one! But perhaps after initial enquiries, it’s going to be more expensive than you first thought?! Or maybe you're well down the track of building, but things aren't quite happening as quickly as you want. Here we take a closer look at the increasing costs of building and why things are … [Read more...]

Pre-Exchange and Pre-Settlement Inspections

You've attended more than your fair share of weekend inspections whilst house hunting. But now that you've had an offer on a property accepted, you're all done with inspections - right?! Nearly, but not quite! Here we discuss pre-exchange and pre-settlement inspections and what you should look out for at each.   What is a pre-exchange inspection? So, your offer has been accepted on a property you like – and the lender has just issued Formal Approval for your finance. … [Read more...]

Upgrading your home: Sell before you buy? Buy before you sell?

So you’re looking to upgrade your home, but not sure how it’s all supposed to work. Can you buy a new place before you sell your current home? Do you need to sell your house first before you can buy another? But doesn’t that mean you’ll have nowhere to live in the meantime? Whilst the answers to these questions will entirely depend on your personal financial situation, here’s a few things you may want to consider.   Buy before you sell This can be a good option if your … [Read more...]

Canberra Property Prices: How did your suburb perform in 2021?

If you didn’t have a conversation last year that went something along the lines of, ‘Did you see how much that house sold for on the weekend?” or “Did you hear about that record price in ‘insert-just-about-any-suburb?” we're not sure we can be friends. Just kidding, of course. With reports indicating national housing values increased in 2021 by just over 22%, let’s delve a bit deeper into the figures to find out the how estimated property values changed in *your* suburb. Realestate.com.au … [Read more...]

Rising Interest Rates – should you be worried?

  In recent weeks/ months, talk of an interest rate hike has been at an all-time high, which isn’t particularly surprising given signs the economy is strengthening. Whilst homeowners have enjoyed record low interest rates for quite some time now, as the saying going, ‘What goes up, must come down, and then back up again.’ Have we reached that point yet? Whilst there seems to be no shortage of economists and commentators wanting to discuss the likelihood (and timing) of an interest … [Read more...]

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...]

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