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The Bank of Mum and Dad
February 19, 2024Debt Advice & Mortgages
Entering the real estate market has become increasingly tough in recent years. The median price for a house in Adelaide was $410,000 in 2013 and $740,000 as at Dec 2023.1 Housing affordability has been further eroded by rising interest rates. Becoming a first homeowner in Australia in 2024 is very difficult. More than 60% of first...Read More
Switching home loans
January 29, 2024Debt Advice & Mortgages
Refinancing your home loan to take advantage of a lower interest rate might save you money. Before you switch, make sure the benefits outweigh the costs. Before you decide to switch If you're thinking about switching home loans, you're probably focused on getting a better interest rate. But there are other things to consider before...Read More
The upfront costs of buying a home
January 22, 2024Debt Advice & Mortgages
When saving for your first (or next) home, it’s common to focus on building up the deposit and servicing your upcoming home loan. However, there are other upfront costs when buying a home that you should be aware of from the get-go. With it being particularly challenging these days to get your foot onto the...Read More
The new year is a time when most people sit back and set some goals for the year ahead. But why not think about your goals for next year now? If you are thinking of buying a property, get a jump-start on 2024 and be ready to buy by starting the pre-approval process and doing...Read More
Why invest in property? What makes this such a popular option? You can earn rental income plus benefit from capital growth. What’s different for investors vs. homeowners? Stamp duty If you’re an investor you’ll also pay stamp duty, which varies, depending on your state. This is based on your property’s purchase price and is often...Read More
Rising levels of debt and finding ways to manage it is a concern for many of our clients. For some, it’s aiming to improve their credit score when applying for a mortgage or government home ownership scheme. For others, it's being able to cover rising mortgage repayments or unexpected expenses. Fortunately, there are a number...Read More
One of the biggest challenges first home buyers face at present is saving for a decent deposit. While there are definitely some advantages to buying as a couple compared to on your own, pooling your savings for a deposit can put a strain on even the most solid relationship. So here are some tips to...Read More
First Home Owner Grant (FHOG) – the basics
September 25, 2023Debt Advice & Mortgages
What is the First Home Owner Grant? The FHOG was introduced by the Federal Government in 2000 to assist first home buyers with purchasing a home. Since then, the rules around it have repeatedly changed. While the FHOG is a national scheme, it’s funded by the states and territories—and administered by each of them individually....Read More
Is your mortgage still working for you?
September 18, 2023Debt Advice & Mortgages
A mortgage is a long-term commitment, which many people enter with a ‘set and forget’ mentality. Most loans are around 30 years – during which many things can change, not just in your personal circumstances but in the financial world, with the new loan products and fluctuations in interest rates. If you haven’t reviewed your...Read More
Use the new First Home Super Saver Scheme (FHSS) to save your first home deposit faster If you’re saving for a deposit on your first home, the Federal Government’s First Home Super Saver Scheme (FHSS) could help you reach your target sooner, by allowing you to save for your deposit inside your super. A government...Read More