An alarming 72% of Australians between the ages of 18 and 34 have given up the dream of home ownership, according to a survey by the Sydney Morning Herald. Overall, 63% of Australians believe homes have become unaffordable for young people, compared to 57% a year ago. And 49% of...
How to get a home loan when you’re a business owner
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...
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...
Australia’s home loan wars heat up
Home loan interest rates are on the rise, thanks to back-to-back cash rate hikes from the Reserve Bank of Australia that have seen the country’s official interest rate jump to 0.85%. The RBA’s move comes off the back of the fastest acceleration of inflation in over two decades, representing a...