When considering a home mortgage, there are several choices to evaluate based on your financial capacity and individual requirements. Two primary options are the Principal & Interest mortgage and the Interest-only mortgage. It's essential to thoroughly understand the implications of the Interest-only mortgage to ensure it aligns with your long-term…
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In the dynamic landscape of global economics, interest rates often serve as the thermometer indicating the overall health and direction of an economy. Recently, whispers and predictions about the Reserve Bank of Australia's (RBA) potential moves have been rife. Leading the discourse, Shane Oliver, AMP's chief economist, has brought forth…
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In the ever-evolving landscape of the Australian housing market, one profession has steadily risen to prominence over the past decade – mortgage brokers. A decade ago, they accounted for a modest 45% of all home loans arranged in the country. Five years later, that number had grown to 54%, and…
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This comprehensive guide will help you navigate the world of home loans in Australia and make informed decisions to secure your dream home. Chapter 1: Types of Home Loans Before diving into the process, it's essential to know your options. Variable-Rate Loans: These loans offer flexibility with interest rates that…
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When it comes to making a significant financial decision, few choices are as crucial as selecting between fixed and variable interest rates. These two options form the cornerstone of lending and borrowing, influencing everything from mortgages to personal loans. Understanding the advantages and disadvantages of each can empower you to…
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In the ever-evolving landscape of the Australian real estate market, a new challenge has emerged that's grabbed the attention of borrowers nationwide: the looming mortgage cliff. With all the interest rate hikes, and economic uncertainties casting shadows, Aussie borrowers embarked on a race to secure their financial stability. In this…
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When it comes to buying a home, securing a mortgage is a crucial step in the process. A mortgage broker can be your guiding light in finding the right loan for your dream home. To ensure you make the best decision, it's essential to ask the right questions. In this…
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No two mortgages are ever identical, underscoring the importance of comparing different home loan options. Each mortgage offer comes with its unique set of fees, interest rates, features, and more. Furthermore, not all brokers assess borrowing power and risk in the same manner, resulting in varying amounts of money that…
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The decision to select the appropriate home loan holds immense significance for any prospective homebuyer. Given the recent surge in interest rates in June, as part of the Reserve Bank's efforts to curb inflation, finding the right loan has become more critical than ever. It's important to bear in mind…
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Australia's financial landscape is marred by an escalating predicament—a growing number of households find themselves ensnared in the confines of mortgage prison, with the recent surge in the official interest rates being transmitted to these burdened individuals. But what does this notion of mortgage prison truly entail? How extensive is…
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