Using Superannuation to pay off a Mortgage

Oct 12, 2021 9:05:09 AM

As rising house prices push home ownership further out of reach of younger generations, with many having to delay entry to the property market as they save a deposit, more and more retirees are entering retirement with mortgage debt. Those unable to pay down their mortgage debt ahead of retirement are faced with a challenge: whether or not to use superannuation to pay off the mortgage and if so, what to live on during retirement.

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Topics: Refinancing, Home Loan Rates, Investment Finance

Getting a Home Loan With a Baby on the way

Sep 23, 2021 4:20:49 PM

When you’re starting a family – or growing your family – the last thing you want to worry about is getting approved for a mortgage. But if you’re pregnant or a new parent taking parental leave, you’ll likely be on minimal or no income for a while, and that could impact your ability to get home loan approval. If you are considering applying for a mortgage while on parental leave or with a new baby on the way, in this article we’ll hopefully cover some of the concerns you might have.

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Topics: First Home Buyer, Refinancing, Home Loan Rates

Lending to SMSF’s and the Current Investment Property Market

Jun 22, 2021 5:05:20 PM

During the COVID-19 pandemic, many people began taking stock of their lives, re-evaluating their lifestyle and financial position, with particular attention to their superannuation and its investment potential. This focus, combined with factors like a resilient property market, poor returns on cash deposits, and tax advantages, have led to the growth of self-managed super funds (SMSF). In this article, we’ll take a closer look at the lending options available to SMSF’s as well as the current investment property market.

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Topics: Investment Property, Mortgage Broker, Home Loan Rates

How Lenders Set Variable Interest Rates

Jun 22, 2021 5:01:38 PM

With historically low interest rates, many Australian homeowners choose to structure part, or all, of their home loan on a variable interest rate. Fluctuations in the variable interest rate mean sometimes mortgage repayments are lower, while at other times a higher repayment is charged. If you’ve ever wondered why the variable interest rate differs from lender to lender, or even how variable interest rates are calculated, here’s a simple explanation.

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Topics: Mortgage Broker, Home Loan Rates

Parental Support – Borrowing Power

Jun 8, 2021 3:03:58 PM

Many people believe that low income earners – and those who rely on government benefits – are not eligible for home loans. But that’s not always the case. If your household income is supported by Family Tax Benefits (FTB) from Centrelink, the good news is, there are still lenders who will consider this type of home loan application.

The key to success is working with a mortgage broker who understands which lenders to approach. Read on to find out what you need to know about using non-standard income to access home loan lending.

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Topics: Mortgage Broker, First Home Buyer, Home Loan Rates

Fixed, Variable and Split loans: What’s Right For You?

Mar 9, 2020 10:59:00 AM

There’s no better time than right now to review your home loan structure and mortgage interest rates. Time to tidy up those external debts, refinance to a better interest rate, or refinance to release equity to fund that new car, boat or investment property. If you’re not sure what repayment structure works best for you, here’s a guide to understanding the different types of loans.

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Topics: Selling, Mortgage Broker, Home Loan Rates, Home Loans

Is Your Lender Charging You Loyalty Tax?

Mar 5, 2020 11:02:38 AM

Your “set and forget” mindset could be costing you. As much as 4%, say the experts. That’s the amount of extra interest some homeowners are paying each year in “Loyalty Tax”. If you haven’t reviewed your mortgage recently, you could be doing the same. Read on to find out why it’s imperative you review your mortgage regularly and avoid paying “Loyalty Tax”.

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Topics: Financial Health, Refinancing, Home Loan Rates, Home Loans

First Home Owners Deposit Scheme – All You Need to Know

Jan 13, 2020 10:39:00 AM

On 1 January 2020, the Australian Government’s First Home Owners Deposit Scheme kicked off and already hundreds of Aussies have signed up to the scheme. Aimed at supporting eligible first home buyers purchase a home sooner, the scheme allows first home buyers to put down just five per cent deposit, with the National Housing Finance and Investment Corporation (NHFIC) guaranteeing the rest of what would normally be a 20 per cent deposit. Here’s all you need to know.

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Topics: Mortgage Broker, First Home Buyer, Home Loan Rates, Home Loans

How to Buy a House in Australia as a Migrant

Dec 6, 2019 3:32:18 PM

For many people, owning a home in Australia is the ultimate Aussie dream. And that dream is no different for new migrants making Australia their home. When it comes to buying a house in Australia as a migrant though, there are a few rules you need to know about to pave the way to home ownership. Read on to find out what your options are as a migrant on a temporary visa or as a permanent resident buying property in Australia.

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Topics: Selling, Mortgage Broker, Home Loan Rates, Home Loans

Home Loans With Reward Schemes

Nov 16, 2019 1:09:00 PM

Does earning reward points or frequent flyer miles while you pay off your mortgage sound too good to be true? It’s not as crazy as it sounds: in a bid to snag more business, some home loan lenders offer borrowers the chance to earn reward points or frequent flyer miles on their home loan balance. Read on to find out more about home loans with reward schemes.

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Topics: Selling, Refinancing, Home Loan Rates