Soaring house prices over 2021 have reduced housing affordability for many homebuyers, especially younger first-home buyers. Saving up a 20% deposit is difficult at current prices, causing many to purchase property with a low deposit, leading to a downward spiral as the lenders charge LMI fees, further increasing the cost of purchasing.
Stamp Duty (Land Transfer Duty) is a tax charged by the state government upon the purchase of property. The amount charged to the buyer depends on the contract price.
Looking to buy around Melbourne or anywhere in Australia? Then this is a must read, learn about Lenders Mortgage Insurance, what it is and how you can avoid it.
From your trusted mortgage brokers.
A guarantor home loan is a potential strategy for new home buyers (not just first homeowners) which reduces the upfront financial strain of purchasing property and can reduce the monthly repayments of borrowers.
The primary role of a mortgage broker is to find a loan that is appropriate for your needs. Once they have recommended a loan, the next part of their role is to guide you through the application, approval and settlement process.
This article contains my top 5 tips for fellow Gen Yers entering the housing market:
Buying a home is one of the biggest things you’ll do in life. We’re here to help you by making sure you have the info and options you need to find the finance solution you’re looking for (for the house you want).