Your living expenses play an important part in your broker, or the bank assess your home loan application. To work out your Borrowing Capacity, your living expenses will be a key factor; how much can you borrow, or even if you can afford one. So, what...
The prudential regulator APRA on Wednesday ordered banks to lift the “buffer” they add to market interest rates when assessing borrower capacity to repay loans. Here is what that move will mean in practice for potential borrowers. What is a serviceability buffer? Banks are required to examine a borrower’s ability...
The state has launched a new home-buyer fund, under which it will pay 25 per cent of the property purchase price if eligible borrowers have a 5 per cent deposit. The Victorian government has introduced the $500 million Victorian Homebuyer Fund (VHF), which is expected to...
Australian company directors have one year to apply for their unique director identification number before fines of over $1.1 million are issued for non-compliance. Existing company directors will now be required to apply for a director identification number (director ID) by 30 November 2022, while directors of Indigenous...
If you are thinking about locking in a cheap fixed interest rate on your mortgage, the clear message from financial markets is that those rates will probably climb in the months ahead. That suggests it is time to act sooner rather than later. Pros and cons...
The Treasury has expanded the property price caps for homes purchased under the First Home Loan Deposit Scheme and Family Home Guarantee. The federal government has confirmed new property price caps for the First Home Loan Deposit Scheme (FHLDS) and the Family Home Guarantee, which apply from 1 July 2021. A total...
Property auctions can quickly descend into fast-paced shootouts fuelled by adrenalin and ego as buyers fight for the front door keys. While it might seem daunting, our tips for buying a house at auction could help you be prepared to improve your chances of success. 1....
Saving for a home deposit is no mean feat. But there’s a way to make it more achievable, with a little help from those closest to you. What is a Family Security Guarantee? If you’re finding it tricky to reach a deposit of 20% or higher on...
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Buying your first home can feel like you’ve stepped into a world where everyone speaks a foreign language. Use this jargon buster to look up terms and phrases you may come across along the way. You can also talk to one of our Finance Circle Group First...