How to buy a house when you have a HECS or HELP debt

How to buy a house when you have a HECS or HELP debt
You can remember it now: sitting in a chair at the back of the lecture theatre, chatting to your friends and ignoring the debt that each day at university was plunging you into. But now you’re older and wiser, and reality has set in. You want to buy a property, but you’re unsure how your student HECS or HELP debt could impact your ability to take out a loan.

Which type of home loan is right for you?

Which type of home loan is right for you?
The array of mortgages available helps a good credit adviser to tailor a package to suit your needs

Mandatory credit reporting changes and how they will affect you

Mandatory credit reporting changes and how they will affect you
From 1st of July 2018, the implementation of Comprehensive Credit Report (or Positive Credit Reporting) will be administered and expected to be completely phased in over the next two years. The new measure will currently only apply to the Big Four Banks, however, it is predicted that the remaining institutional bodies will catch on in order to remain competitive.

10 tips on how to increase your borrowing capacity

10 tips on how to increase your borrowing capacity
Maximising the amount a lender will hand over to you isn’t about trying to take on unmanageable levels of debt. It’s a matter of taking a few simple but smart steps that could mean the difference between toiling in that ‘fixer-upper’ or owning your dream home.
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How to avoid paying too much for a home

How to avoid paying too much for a home
Comparing nearby properties that have sold recently is the best way to assess an acceptable price for the property you are looking at and provides a valuable bargaining tool when you are negotiating with a seller or agent.

It’s about time: Are 60 day settlements becoming the new norm?

It’s about time: Are 60 day settlements becoming the new norm?
Home loan applications are taking longer than usual for many brokers and borrowers, due in part to the increased uncertainty lenders are facing.

How to invest in property on a fixed income

How to invest in property on a fixed income
While you may not need a six-figure salary to invest in property, those who earn a relatively low income will require a little more creative thinking to start a portfolio. Here are some tips to help you get started.

2018-19 Federal Budget Roundup

2018-19 Federal Budget Roundup
Some of the key proposals put forward in the recent Federal Budget. We take a look at how they might affect your financial goals — whether you’re starting out in your working life, building a career, having a family, or moving toward or living in retirement.

Are Interest-Only Home Loans in Australia’s Best Interest, or the Bank’s?

Are Interest-Only Home Loans in Australia’s Best Interest, or the Bank’s?
The Reserve Bank of Australia has expressed concern and has issued a warning in response to a high number of interest-only loans that are due to expire in the next four years.

APRA Removes Investor Benchmark: What Will This Mean for the Future of Lending?

APRA Removes Investor Benchmark: What Will This Mean for the Future of Lending?
Since APRA’s decision to eliminate the investor loan growth benchmark was announced, emphasis is now being placed upon efforts to ensure lending standards are strengthened.

How to pay off your home loan faster and save big bucks

How to pay off your home loan faster and save big bucks
Reducing the life of your loan isn’t difficult; there are many simple things you can do to cut years off your mortgage. Here are some tips that will help you be mortgage-free sooner than planned.

Thinking of becoming a landlord? Here’s what every Australian property investor needs to know

Thinking of becoming a landlord? Here’s what every Australian property investor needs to know
As any expert will tell you, property investment is a long-term commitment and there is more to being a landlord than simply unblocking the sink, collecting the rent and watching your investment grow.

Increasing costs of living leave Aussie households struggling to repay

Increasing costs of living leave Aussie households struggling to repay
A new survey has highlighted that the soaring cost of living and feeble wage growth have become increasingly undeniable issues

Rentvesting - enter the property market without sacrificing your current lifestyle

Rentvesting - enter the property market without sacrificing your current lifestyle
As property prices continue to rise, purchasing in a centrally-located or sought-after area is out of reach for the average working millennial. Instead, many are opting to rent rather than buy as it means not having to compromise their inner city or beachside lifestyle. But for those who are still eager to enter the market, there is a way to get the best of both worlds.

Top ways to cut your expenses and increase your savings

Top ways to cut your expenses and increase your savings
Is the key to saving a home deposit as simple as giving up smashed avo toast for breakfast? Well not quite, but spending less does make a difference.

Financial literacy on the rise: how understanding benefits everyone

Financial literacy on the rise: how understanding benefits everyone
No economy or financial sector is an island: the global financial crisis made it painfully clear just how rapidly financial contagion can spread. This being said, until recently, we have seen little improvement in financial literacy in the years since the financial crisis.

Fewer loans to property investors means lower overall housing credit growth

Fewer loans to property investors means lower overall housing credit growth
Tighter lending regulations, especially for investors, are taking their toll on the county’s overall housing credit growth.

Stamp duty explained

Stamp duty explained
The amount of stamp duty you are required to pay differs in each state, however there are three factors, along with the value of the property, that determine how much stamp duty you will pay.

How to avoid extra home loan fees

How to avoid extra home loan fees
Exit and early termination fees can put the brakes on plans to sell, to refinance, and to renovate or purchase an investment property. Here’s how to avoid them from the start.

The era of Super-fast banking is here…almost

The era of Super-fast banking is here…almost
Gone are the days of waiting up to half a week for bank transfers to show up in your account. A new technology designed to reduce transfer times to less than a minute has recently been launched, however, there is a catch...

Millennials to outspend Baby Boomer’s in real estate

Millennials to outspend Baby Boomer’s in real estate
According to a prominent real estate group, Millennials are poised to overtake Baby Boomers in real estate spending powers within the next five years with over 65 percent of those born between 1982 and 2002 tending to choose lifestyle over property.

Everything you need to know about bad credit car loans

Everything you need to know about bad credit car loans
So you’ve got bad credit and you want to borrow money to buy a car. You’re no orphan. Thousands of people have the same problem.

Home loan pre-approval explained

Home loan pre-approval explained
Pre-approval is a lender’s assessment of your likelihood of being approved for an otherwise suitable loan

Comprehensive credit reporting: Borrowers to reveal all

Comprehensive credit reporting: Borrowers to reveal all
By making comprehensive credit reporting mandatory, the Government will force the major banks to share customer data, starting in July this year.

Government to introduce new housing affordability legislation

Government to introduce new housing affordability legislation
The Australian government has released a new legislation draft which looks to establish the National Housing Finance and Investment Corporation (NHFIC) to increase housing affordability.

Refinancing traps to avoid

Refinancing traps to avoid
Whether you’re after lower repayments or want to tap into the equity sitting in your home, refinancing can offer a world of benefits.

New Year’s resolutions: Set and achieve your money goals in 2018

New Year’s resolutions: Set and achieve your money goals in 2018
Whether you’re dreaming of to taking a holiday, getting a new car, growing your superannuation or even just becoming more organised with your money, the new year is a great time to get started setting financial goals.

RBA: A recession is not the answer

RBA: A recession is not the answer
The Reserve Bank of Australia has renounced claims that a fully fledged recession is the only way for the Australian economy to improve, instead, saying that recessions only promote “destructive destruction”.

Investing in a holiday house? Location is everything

Investing in a holiday house? Location is everything
Before you take the leap into a holiday-home investment, it is essential that you consider all angles.

The Aussie housing market: Interest rates and the future of the economy

The Aussie housing market: Interest rates and the future of the economy
A recent report released by Bloomberg has brought attention to data from the Australian Bureau of Statistics and CoreLogic which suggests that Australia’s era of housing hysteria has come to an end.