Why Australians’ Borrowing Power May Soon Get a Boost

May 17, 2024 12:42:07 PM

As part of its focus on easing cost of living pressures, the Australian government has announced that all 13.6 million taxpayers in Australia will receive a tax cut on July 1 through the already legislated stage 3 tax cuts. In addition to this, households, small businesses and renters, amongst others, will benefit from a range of rebates aimed at easing cost of living pressures. While it’s good news for Australian taxpayers, tax cuts could also impact borrowing power, opening the doors for first home buyers and those looking to upgrade their home.

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Topics: Budget, Financial Advice, Tax Benefits

3 Ways First Home Buyers Can Get into the Property Market Sooner

May 16, 2024 12:37:55 PM

Despite ongoing challenges with housing affordability, owning a home remains an important milestone for many first home buyers in Australia. While the path to home ownership may not always be straightforward, there are some things that can speed up the process. Read on as we explore three ways first home buyers can get into the property market sooner, including leveraging the Bank of Mum and Dad, accessing assistance from State Governments, and buying with family or friends.

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Topics: Home Ownership, First Home Buyer, Financial Advice

Financing Tiny Houses: A Path to Affordable Home Ownership

Apr 18, 2024 12:26:00 PM

Tiny Houses are fast becoming a popular option for those seeking alternative housing solutions in today’s challenging housing market. These compact homes provide a minimalist lifestyle and financial freedom, making them an attractive solution for those looking to downsize and own their own home without the responsibility of a traditional mortgage. If you’re considering a Tiny House as your next home, here's everything you need to know about financing a tiny house in Australia.

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Topics: Home Ownership, First Home Buyer, Financial Advice

Australia’s Property Market Gears Up For a Strong Year Ahead

Apr 17, 2024 12:21:29 PM

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.

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Topics: Mortgage Broker, Financial Advice, Buying and selling

Refinancing Your Home Loan: A Step-by-Step Guide

Mar 17, 2024 1:05:00 PM

Refinancing your home loan to secure a lower interest rate or to access funds for a home renovation or debt consolidation can be a smart financial move that leads to significant savings over time. However, it's essential to approach the refinancing process with careful consideration and thorough preparation to determine both the short and long-term impact on your financial situation. Here's a step-by-step guide to help you navigate the refinancing process.

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Topics: Home Loan, Financial Advice, Refinance

Managing a Mortgage With a New Baby: 9 Practical Tips

Feb 16, 2024 1:50:00 PM

The arrival of a new baby can turn life upside down in the best possible way, but many new parents get caught out by the challenges that come with managing a mortgage and a growing family. Amidst the joy and excitement, getting your finances in order can make parenting easier, while a little forward planning lets you focus on what’s most important: your family. Here are 9 practical tips for managing a mortgage with a new baby.

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Topics: Refinancing, Financial Advice, Home Loan Advice

5 Ways to Reduce Taxable Income and Keep More Money in Your Pocket

Feb 15, 2024 7:30:00 AM

The ongoing high cost of living has many Australians looking for ways to keep more money in their own pockets and pay less at tax time. As tax season approaches, there’s no better time to explore financial strategies that could help reduce tax liabilities. By leveraging these financial tools and savvy techniques, it’s possible to save money while still being compliant with Australian tax laws. Read on as we share six effective methods to achieve this goal.

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Topics: Tax Deductions, Australia tax, Financial Advice

Get Ready for Financial Success in 2024

Feb 13, 2024 1:44:16 PM

Heading into a new year is a good time to assess your financial situation and plan for a prosperous year ahead. Whether you’re aiming to buy a first home, pay down an existing mortgage, or simply improve your financial wellbeing, being proactive about reaching financial success is a sure-fire way to accomplish more with your money. Follow these three steps to help build more wealth and improve your financial stability in 2024.

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Topics: Refinancing, Financial Advice, Home Loan Advice

Navigating Separation or Divorce: What Happens to The Mortgage?

Jan 22, 2024 2:36:02 PM

Going through a separation or divorce is understandably distressing. Aside from the emotional turbulence of separating your lives, untangling your financial knots, especially the mortgage, can be particularly challenging. To ensure a smooth and fair transition, it’s important to have a clear understanding of the legal aspects of property division, and what happens to the mortgage when relationships change.

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Topics: Financial Advice, Property Settlement, Property and divorce

3 Essential Budgeting Tips for Australian Home Buyers

Jan 22, 2024 2:35:29 PM

Whether you’re buying a first home, upsizing or downsizing, or growing a property portfolio, setting a budget is an essential first step to working out how much you can afford and how much you may be able to borrow. From setting SMART goals to dodging “lazy tax” and sticking to the 50/25/25 rule, these three essential budgeting tips for Australian home buyers will help you make savvy financial decisions and turn home ownership dreams into reality.

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Topics: Financial Health, Budgeting, Financial Advice