Stamp Duty Explained
Stamp Duty Explained Stamp duty is a charge which is applied by State Governments in Australia on transactions relating to the transfer of land or property. By ROB WALMSLEY It is paid upfront and needs to be budgeted for, in addition to your loan deposit. The amount of stamp duty you are required to pay […]
Is It Time To Look At Your Mortgage
Is It Time To Look At Your Mortgage? Today I’ve extracted some information from an interesting article by Julia Corderoy published in Australian Broker Magazine. By ROB WALMSLEY The number of Australian homeowners refinancing their mortgage has reached an all-time high, according to an analysis of consumer data. The analysis of statistics compiled by the […]
Investment Loan Interest Rates
Investment Loan Interest Rates Recently nearly all banks have increased the interest rate on their investment home loans. By ROB WALMSLEY The reasoning behind the increase is to build up cash reserves and various other reasons that don’t really relate to this. Beside the increase in rate, the banks are offering very attractive rates on […]
Save Interest and Pay Your Loan Off Sooner
Save Interest and Pay Your Loan Off Sooner Here are a few simple ways to save interest on your home loan and pay it off faster. By ROB WALMSLEY Organise a loan with an offset account. Any money sitting in the offset transaction account is money saving interest on your home loan. Use your home […]
Looking for ways to cut costs and save money
Looking for ways to cut costs and save money? Whilst interest rates are at a record low, there are many people struggling and looking for ways to cut costs and save money. By ROB WALMSLEY In a nutshell, there are only a couple of ways to do that: Increase your income Cut spending Income The […]
Stop Worrying About Your Finances
Stop Worrying About Your Finances Stop worrying about your finances and start fixing them with the help of these tips: By ROB WALMSLEY Make a list, not a snowball. Sit down and write out your financial stress points. Money problems can seem like those cartoon snowballs, rolling downhill, gathering speed and size, and making every day […]
Scam Alert
Scam Alert ASIC has warned brokers and consumers they are in the crosshairs of scammers, after reports that consumers lost up to $5,400 dollars from upfront payments to unknown impersonators. By ROB WALMSLEY The corporate watchdog called for consumers to look for the “classic warning sign” of a scam – treating any requests for upfront […]
Things to Know When Purchasing Your New Home
Things to Know When Purchasing Your New Home Research like your life depended on it! By ROB WALMSLEY Get to know the market in your area The market in Australia is constantly changing. Housing prices are currently at an all-time high, while interest rates are at an historical low. First-time buyers or even those looking at […]
How much deposit do I need for a home loan
How much deposit do I need for a home loan? Quick answer: the more the better, but as a rule of thumb the minimum is 5%, seen as genuine savings which means it has been an increasing balance over time or has been held in your account for at least three months. By ROB WALMSLEY The […]
How Does A Family Guarantee Loan Work
How Does A Family Guarantee Loan Work? A family guarantee loan is when a parent or immediate family member allow use of their home as additional security. By ROB WALMSLEY This means you will not need a traditional deposit for a purchase, although some lenders do like to see a savings pattern or a rental […]