If you’re not an employee, it may be more difficult to get a home loan. Home loan lenders may think there’s more risk involved because your income may be unpredictable or irregular. Also, it may be harder for them to verify your employment. Consequently, some mortgage lenders will demand a...
WIN your mortgage paid for a MONTH!
Living expenses and mortgage repayments starting to bite? We've got you covered. Imagine not having to pay your mortgage for a month! For the month of March, you could win your monthly mortgage repayment paid by NMC Finance (up to $5,000*). Simply enter in any of the following ways: Refer...
When will interest rates go down?
The Reserve Bank of Australia caused few surprises when it lifted the country’s official interest rate by 25 basis points to 3.35% in February. After all, annual inflation jumped by 7.8% over the December quarter, according to the Australian Bureau of Statistics. That’s not just a 32-year high; it’s also...
Why higher interest rates might ultimately benefit homebuyers
The Reserve Bank of Australia might have raised the cash rate by 250 basis points since May to 2.60% – the quickest tightening in nearly three decades – but a senior central bank official has claimed higher interest rates could ultimately benefit new homebuyers. In a recent speech, Jonathan Kearns, the...
Applications open for Regional First Home Buyer Guarantee
Here’s some great news for regional Australians who want to get on the property ladder: 10,000 new places are now available under the federal government’s Regional First Home Buyer Guarantee. The scheme began on 1 October 2022, three months ahead of schedule. With many young Australians making the move to...
Should you buy in a falling market?
Spring is in the air. Alongside the warmer weather comes what is traditionally the busiest season of the year for Australia’s property markets, with listings numbers and buyer activity usually significantly higher than during the winter months. This spring season will be very different from the previous two years, with...
How refinancing can help you dodge the full impact of rate rises
With all four major banks and many other home loan lenders passing on in full the Reserve Bank of Australia’s latest interest rate to their variable-rate borrowers, many homeowners are facing yet another jump in their home finance repayments – the fifth in as many months. However, existing variable borrowers will...
Your borrowing capacity is falling right now – but you can fight back.
You’ve no doubt heard that interest rates are rising. Over the past few months, the Reserve Bank has been increasing the cash rate, taking it from a record-low 0.10% in May to 1.85% in August, with further increases all but certain. As the Reserve Bank has been increasing the cash...
What would Warren Buffett do in the current property market?
Warren Buffett is one of the world's richest people and most successful investors. According to Investopedia.com, his net worth is listed at $100 billion as of June 2022. Buffett once explained why he and his business partner, Charlie Munger, had built such an incredible investing record over many years. "We simply...
Why are millennials making a big move to the regions?
Traditionally, there’s been a perception that young Australians want to live in our capital cities, thanks to the career opportunities, buzzing nightlife and vibrant lifestyle. But new data from the Commonwealth Bank and the Regional Australia Institute’s Regional Movers Index has turned that notion on its head. The index found...