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Dec 10

APRA’s Move To Increase Borrowing Power Capacity

The critical constraint on borrowing limits that were implemented in late 2014 has been removed by APRA (Australian Prudential Regulation Authority). It is another move that may encourage the idleness of the property market.

To make it more specific, APRA has removed its quantitative guidance on the level of the serviceability floor rate at 7%, which ADIs (Authorized Deposit-taking Institutions) or banks use to assess home loan applications.

Nov 25

Home Loan Rates Beginning With 2 Is The New Norm

By Editorial Team | Home Loans , News

There are 6 lenders with variable Home Loan Rates with a 2 at the beginning, according to a report from RateCity.

They are expecting 6 to climb to 20 at the next RBA (Reserve Bank of Australia) cut if banks pass on at least 0.20 % to borrowers.

Sally Tindall, the RateCity research director have stated that the owner-occupier rates beginning with a ‘2’ could become the new norm if the central bank made 2 more cuts to the cash rate.

“With 2 more rate cuts on the cards, we could see the lowest variable rate drop below 2.60, maybe even below 2.50%.”

Jul 23

The Demand Fluctuation Of Housing In Australia

By Editorial Team | Home Loans , Interest Rates

The Most Common Factors Affecting Housing Demand In Australia

1. Affordability

An increase in income means that people can afford to spend more on housing. Within the time of economic growth, demand for houses are expected to increase. Also, the demand for housing tends to be a luxury good. Thus, an increase in income causes a bigger percentage of growth in demand.

Jan 10

How Do Guarantor Loans Work?

By Shane | First Home Buyer , Guarantor

Over the past two years, average capital city house prices have risen by around sixteen percent (16%). That’s great if you’re an investor but for first time buyers trying to save for a deposit, it’s like chasing your own tail. Luckily, there are ways to get into the property market now without having to sell your own parents. In fact, you’ll need them.Continue reading

Oct 18

Things To Consider When Choosing Your First Home Loan

By Shane | First Home Buyer

Buying a house is exciting, but your bank account might not be as eager as you are. Considering that financial situation, a home loan would probably be the biggest financial commitment you’ll ever make. Know the things to consider when choosing your first home loan and how much of your savings you are willing to spend. Begin by preparing yourself in reality and determining the true costs.Continue reading

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