Nov 11, 2016 11:27:11 AM
Getting a Mortgage When You Are Self-Employed
Topics: Mortgage Broker, Home Loans 0Related posts
Property values have continued to rise in the first quarter of 2024, with strong growth reported across all major capital cities. Despite a pessimistic outlook by the Reserve Bank of Australia (RBA), the value of residential real estate increased to an estimated $10.4 trillion at the end of February (a new record high), while combined capital values are up 10.2% over last year’s figures. With the possibility of interest rate cuts looming, the market is gearing up for a strong year ahead.
With the new year in sight, there’s no better time to take control of your financial situation and prepare for the year ahead. Set yourself up for a financially successful 2024 by making a few small changes to how you spend and save, realigning your budget, paying down your debt, and resetting your financial goals. Here are five actionable tips and some practical advice to help you get financially fit in 2024.
Aussie homeowners facing yet another cash rate hike in June 2023 are understandably concerned about the impact that rising interest rates will have on their mortgage repayments. Going from a low .1 per cent little more than a year ago to a new high of 4.1 per cent, the latest cash rate hike has seen a number of banks push up mortgage rates. But, not all lenders and there are still interest rate deals to be found. If you are considering refinancing, non-bank lenders may be a suitable option.
Co-buying property in Australia by pooling resources with family or friends is one way to boost purchasing power and tackle affordability issues stopping many first home buyers and solo buyers from entering the market. But without careful consideration, co-buying can be a minefield of legal battles that potentially ruins relationships. Follow these 3 tips to know what pitfalls to avoid and how to make co-buying work.
From January 16, 2023, new legislation means first home buyers in New South Wales can choose to pay an annual land tax on their property instead of an upfront stamp duty when buying a first home. The First Home Buyer Choice policy aims to incentivize first home buyers and help them into their own homes sooner, by potentially shaving off nearly two years from the time needed to save a deposit. On the flipside however, increased housing demand from more first home buyers is likely to impact house values and property prices.