Caitlin and Joel Loan amount: $670,000. Monthly repayments: $2700. Grants accessed: First homeowner $15,000 and 2020 HomeBuilder $25,000. Deposit: 15 per cent plus 5 per cent guarantor finance to reach the 20 per cent threshold required to avoid paying Lender’s Mortgage Insurance (LMI). While 2020 was the year many…
In a year when just about every real estate record was broken, home buyers turned to mortgage brokers in droves. More than two-thirds – a record 66.9 per cent – of residential mortgages were written by brokers in 2021.1 That’s a leap of 6.8 per cent on the year before…
Lenders are helping parents boost their children’s buying power without putting their house or relationships on the line. Despite a patchy customer service history, the Bank of Mum and Dad is soaring to new heights as the property market booms. And no wonder – conditions are perfect to drive inter-generational…
Many first home buyers now have access to a new government scheme that could get them into their first homes years sooner.
The history of Australian banking has always been dominated by the big four – ANZ, Commonwealth Bank, NAB and Westpac.
With the uncertainty of tax changes gone, a lessening of borrowing restrictions, and a new scheme to help first home buyers – coupled with two interest rate drops – it looks like things are swinging back into the borrowers’ favour. The election result took most of us by surprise. The…