Many of the brightest and hardest-working marketing and advertising people in the country are obsessed with getting you to spend money and, if necessary, to go into debt to do so. Absolutely all the media that reach you every day are designed to get you to spend money. In order to save money in this […]
Kenwick’s first-home buyer Patrick Goh, 28, never thought his shopping habits with buy-now-pay-later apps would affect him until he and his partner applied for a mortgage. First-home buyer Patrick Goh was questioned about his Afterpay account when applying for a home loan. He said he never expected to have to account for his spending, nor […]
Banks’ more stringent credit checks seem to be affecting the way they approve new home loans, two of the biggest Australian lenders say. In a Reuters report, NAB interim CEO Philip Chronican said the stricter lending rules are affecting loan approvals and are inhibiting loan growth. “Most borrowers who previously would have qualified for a […]
After facing public backlash due to the controversies revealed by the royal commission, the National Australian Bank announced that it would discontinue its home-loan referral scheme to rebuild its reputation and regain the trust of borrowers. In a statement, NAB’s acting chief executive, Phil Chronican, said NAB will no longer pay commissions to members of […]
Property investment can be so complicated. It can be really difficult for beginners to know where to start. Here are 10 tips for property investment in Australia for beginners. 1. Knowing How To Make Money It is a good ideas to actually sit down and learn how people make money in property. Generally no matter what strategy people […]
When you consider that a small flat in Sydney could set you back half a million dollars at the moment, saving a 20% deposit to buy that flat – $100,000 – can seem an insurmountable task. That’s where insurance can help. Lenders mortgage insurance (LMI) may be an added expense, but it offers buyers the […]
Late payments and loan defaults leave marks on a credit history that can complicate any effort to refinance or secure a loan in the future. Default can also lead to a home being repossessed and sold by the lender, so it’s very important to act quickly to avoid it. While late bill payments and a […]
Knowing what a property is worth is central to avoiding paying too much for it. Set a benchmark Comparing nearby properties that have sold recently is the best way to assess an acceptable price for the property you are looking at and provides a valuable bargaining tool when you are negotiating with a seller or […]
The Reserve Bank of Australia seemed to have changed its tone on the next movement of the official cash rate as it observes weaker economic prospects. In its latest economic outlook, RBA expects the economy to weaken and wage growth to remain sluggish, noting that the housing market is one of the areas of uncertainty. […]
Australia’s property market has experienced a significant downturn over the past year, driven mostly by losses in Sydney and Melbourne, but there are signs of an imminent improvement. A growing number of buyers are starting to emerge with the belief that the downward trend will bottom out and plateau in coming months, before prices begin […]
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