Saving a deposit for a mortgage is often the biggest hurdle for many first home buyers. Rising property prices in some areas in Australia means it can take years to save up enough of a deposit. Add to that the cost of Lenders Mortgage Insurance (LMI) and it’s easy to see why so many first home buyers struggle to get a foot onto the property ladder. But that’s all about to change with a Government scheme aimed at helping more first home buyers.
Topics: First Home Owner Grant, first home buyer, Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker, First Home Loan Deposit Scheme
This month, we asked one of our top referring Harcourts agents Gavin Kohan, Property Sales Consultant based in Frankston, Victoria to update us on the general feeling in the Victoria property market. Gavin shared his insightful perspective around recent changes to the property market, trends that he’s seeing on the ground, and his predictions for the future of Australian property.
Topics: lending options, Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker
In a bid to restore customers’ faith in banking, the Australian Banking Association (ABA), together with some of Australia’s largest banks, has launched the Banking Code of Practice. This new set of guidelines and principles will hopefully improve small business lending, provide strong protection for customers, and serious consequences for breaches. Here’s some of the changes you can expect.
Topics: lending options, Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker, Open Banking, Responsible Lending, Banking Code of Practice
We are living in a time where there is an abundance of health awareness and an increasing amount of education and statistics published about the risks and long-term impact of various illnesses and disease. It’s clearly affecting Australians physically, mentally & financially, so why then is Australia regarded as one of the most underinsured nations in the world? Is the common colloquialism of “she’ll be right” standing in the way of Australian’s adequately preparing for life’s unexpected events?
Topics: Financial Advice, Home Loan Advice, Mortgage Advice, Mortgage Protection Insurance, Australia Mortgage Broker, Superannuation, Life Insurance
On 1 July 2019, the open banking regime officially began, with the four major banks now offering data on a variety of products as part of the regime’s roll-out. Over the next two years, a phased implementation of open banking will be carried out, not only taking the friction out of banking, according to experts, but also leading to the rise of a whole new class of products and services in the financial sector. So, what changes can you expect?
Topics: lending options, Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker, Open Banking, Responsible Lending
Whether you’re a first home buyer or a seasoned investor, making a bad decision on your mortgage could end up costing you in both time and money. When it comes to a mortgage, what you don’t know CAN in fact hurt you! Knowing what pitfalls to avoid will help you make better decisions. Here are 5 mortgage mistakes to avoid.
Topics: lending options, Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker, Borrowing Advice, mortgage review
Earlier this month, the Reserve Bank of Australia reduced its official cash rate (OCR) to a record low 1.25 per cent. Many of the major banks have already announced changes to their home loan rates, and home loan experts are urging Australian borrowers to find out if they are eligible for a rate cut. There’s never been a better time to review your mortgage by contacting your Mortgage Express broker.
Topics: lending options, Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker, Borrowing Advice, mortgage review
If you’re struggling to save a deposit to buy a property, you may be wondering what your options are. Should you keep saving and potentially miss out on a bargain or optimal buying conditions in the market, or do you push ahead and apply for a mortgage with a small deposit? While it’s not easy securing a mortgage with a small deposit, it is certainly possible. Here are three ways to do this.
Topics: lending options, Low Deposit, Home Loan Advice, Low Doc Home Loan, Australia Mortgage Broker, Home Loan Application
When buying your first home, it’s easy to get swept up in a whirlwind of excitement and make mistakes that could end up costing you later on. Even if you’ve done your research and have a good understanding of the property market, there’s a lot to take in and to think about. Here are 5 first home buyer mistakes to avoid.
Topics: First Home, lending options, Home Loan Advice, Australia Mortgage Broker, Home Loan Application
When applying for a mortgage, most lenders require you prove your income which can be a challenge if you’re self-employed; particularly if you haven’t already done your taxes or been in business for very long. But that doesn’t mean the end of your home ownership dreams. At Mortgage Express, we help self-employed borrowers every day, working with lenders who offer alternative options and access to competitive home loans.
Topics: Credit Check, Self-Employed, lending options, Home Loan Advice, Small Business Lending, Australia Mortgage Broker, Home Loan Application
