How does debt consolidation work?
Keeping track of the interest rates for each loan you have and all of your payments can turn into a real headache. Fortunately, there is a way to make things a little easier for yourself; debt consolidation.
Keeping track of the interest rates for each loan you have and all of your payments can turn into a real headache. Fortunately, there is a way to make things a little easier for yourself; debt consolidation.
Have you ever wondered why some people get approved for loans with competitive rates while others struggle? The secret often comes down to a few crucial digits: your credit score. What’s a credit score? From the moment you take out a credit card, perso .......
As of 1 July 2024, the government implemented its promise to cut taxes for all 13.6 million taxpayers in Australia. This policy responds to the ongoing cost of living pressures affecting many Australians. With the updated stage three tax cuts, taxpayer .......
The past year has posed significant challenges for many Australians, characterised by interest rate hikes and a mounting cost of living crisis. As these concerns continue to weigh heavily on the minds of many, revisiting simple and practical strategies .......
If you’re stuck in a “mortgage prison” and can’t refinance to a lower interest rate or if you’ve had to give up your homeownership dreams because of tough “serviceability” requirements, there’s hope on the horizon. Some of .......
Many borrowers on an expiring fixed rate will want to refinance rather than letting their mortgages revert to a higher standard variable rate. However, some borrowers may find themselves stuck with their current lender aka ‘mortgage prison’.
Struggling to save a home loan deposit? The First Home Guarantee could allow you to buy with 5% or as little as 2% using the Family Home Guarantee for single parents.
One of the biggest obstacles first home buyers face is saving for a home deposit. A family guarantee could help first home buyers get on the property ladder sooner, without paying Lenders Mortgage Insurance.
About 40% of outstanding mortgages in late 2021 were fixed rates. Of those, 75% are set to expire by the end of 2023. At the time, these were some of the lowest interest rates ever seen in Australia.
As you apply for a mortgage, you’ll hear about Lenders Mortgage Insurance (LMI). This is a type of insurance that lenders take out to cover themselves in case the borrower (you) isn’t able to make repayments anymore.
Being approved for a home loan isn’t as easy as simply deciding to get one. There are steps you will need to go through before the bank will even consider your application.
A bridging loan is a special type of short-term loan made for people who are buying their next property while still trying to sell their current home.
Interest rates can change from day to day, meaning that even if you’re approved for a home loan when rates are low, it could increase by the time you reach a settlement. A good way to take care of that is with a rate lock.
One of the first things lenders do when you apply for a home loan is contact an agency - like Equifax, Illion or Experian - who calculates your credit score and look at whether you have a good score or not. But what is a credit score and why is it so i .......
Renovating your home is not a cheap endeavour, but these cost-saving tips could help you achieve great results without breaking the bank!
Fixed vs Variable rates. What kind of loan should you choose in the current property market? Find out more here.
The Reserve Bank (RBA) has raised the nation’s official cash rate (OCR) for the third month in a row in an effort to curb rising inflation.
If the cash rate increases, it's important to know how your finances could be affected. Checking you are on the right loan is a good place to start.
When banks assess your loan application, they add an extra amount to your market mortgage rate, known as a serviceability buffer.
Buying in a new area is about more than price. Amenities, future developments and transport options are also important considerations.
Credit defaults and negative listings can make it harder to get mortgage approval. Using the services of a credit repair company can help.
There are plenty of deals in this competitive market, and some lenders are waiving fees and offering cashback deals from $1,000 - $4,000 as an incentive to refinance with them. BUT how do you truly know which deal is right for you?
In order to become mortgage-free as soon as possible, we’ve compiled five tips and strategies to help you pay it off faster. The practicality of each method will vary depending on your own personal circumstances, so we recommend using different combina .......
Struggling to save a home loan deposit? The First Home Loan Deposit Scheme (FHLDS) and the New Home Guarantee could allow you to buy with 5% or as little as 2% using the Family Home Guarantee for single parents.
With recent Federal Government stimulus packages and successive interest rate cuts, optimism is building with many economists predicting strong growth across all capitals going into 2021.
Ready to get started on your property investment path, or looking to develop your property portfolio? Ask your Nectar broker to put you in touch with an expert Property Investment Consultant. We’d love to hear from you.
When it comes to selecting the best possible investment property, there’s no denying the old adage of ‘location, location, location’ applies as much to new housing as to established property. When it comes to selecting the best possible investment prop .......