How to get a home loan with less than a 20% deposit
It’s commonly said you need a 20% deposit to qualify for a mortgage. However, more than three in ten new home loans actually have smaller deposits, according to the latest data from APRA, the banking regulator. There are five main ways borrowers can buy a property with less than a 20% deposit. Lenders mortgage insurance […]
- Author: admin
- Date: 25 June 2024
Distressed listings fall, but some borrowers doing it tough
There’s been a welcome reduction in properties being urgently listed for sale, which usually occurs due to financial difficulty on the part of the vendor. There were 5,100 ‘distressed listings’ across Australia in May, which was 2.5% less than the month before and 8.5% less than the year before, according to SQM Research. That said, […]
- Author: admin
- Date: 18 June 2024
Why the ATO has its eye on property investors
The Australian Taxation Office (ATO) has flagged three key areas of concern at tax time – one of which is tax returns by property investors. The reason the ATO is focusing on investors is because, in previous years, 90% of investors have made mistakes on their tax returns. “This year, we’re particularly focused on claims […]
- Author: admin
- Date: 18 June 2024
Why the impending tax cuts should increase your borrowing power
The federal government’s Stage 3 tax cuts will take effect from 1 July, which will benefit the borrowing power of the average home loan customer. Starting from the 2024-25 financial year, the new tax thresholds will be: The current thresholds are: For a family on a combined income of around $130,000 – with one partner […]
- Author: admin
- Date: 18 June 2024
No more stamp duty for first home owners buying new property
First-home buyers in South Australia no longer need to pay stamp duty when purchasing or building new homes. This is for new houses as well as units, off-the plan apartments, house and land packages or vacant land to build a new home with no cap. Previously stamp duty was abolished for first-home buyers purchasing new […]
- Author: admin
- Date: 5 June 2024
Federal Budget 24/25 – what does it mean for you?
Federal Treasurer Jim Chalmers last night presented the federal budget for 2024/2025. The Budget comes amidst a cost-of-living crisis, high inflation, struggles in the construction sector and an income election. The challenge was always going to be around helping Australians cope with rising costs without further fuelling inflation. The Labor Government said it focussed on […]
- Author: admin
- Date: 15 May 2024
How to use home equity to buy an investment property
When you buy a property, your initial ‘equity’, or ownership stake, is whatever deposit you put down to qualify for the loan, which is often 20%. Typically, your equity rises as the years advance, through a combination of you paying down your mortgage and your property increasing in value, as this hypothetical example shows: So, […]
- Author: admin
- Date: 14 May 2024
How to choose the right asset finance solution for your business
Securing finance for your business is part of a broader strategy to help your business achieve a particular goal. Your broker’s role is to design a finance package and loan structure to help take your business to the next level. The first step in your asset finance journey is to think about the goals you’re […]
- Author: admin
- Date: 14 May 2024
What to do if your lender gets hacked
Non-bank lender Firstmac has become the largest major organisation to be hacked, following high-profile cybersecurity breaches at Optus and Medibank. If a lender or any other organisation that holds your personal details has been hacked, you should change all your online passwords – particularly those for your bank, email and social media accounts – and […]
- Author: admin
- Date: 14 May 2024
Seven steps to increase your borrowing power
Borrowing power can vary significantly from individual to individual, based on their financial circumstances and choice of lender. That’s why two friends who appear to have a similar profile can be approved for very different amounts of finance. It’s also why the same consumer might find the amount of money they’re able to borrow today […]
- Author: admin
- Date: 14 May 2024
