The new financial year as of July 1 2023 brings in new opportunities for first home owners to enter the property market using government schemes that reduces the required deposit, while removing costly upfront fees.
We as homebuyers who have relied upon mortgages to help purchase property are always looking for ways to minimise our monthly repayments. The common strategy is refinancing to cheaper loans, however lesser known options are to utilise offset accounts and redraw facilities which can either fully remove, or minimise the interest charged to borrowers.
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.
Over the weekend, the Australian Government announced its economic support package to help Australians who are under financial stress as a result of the Coronavirus.
As Movember comes to an end The Chiefs have managed to help raise some SERIOUS money with our team Securinvest raising a total of $1,320 so far.
If we were to ask you what your goals are for this year, or the next three years, or the next ten years, what would you say?
Sometimes the best way to get an understanding of home loans, how it all works and how to choose the right one, is to speak to a broker.
Before you buy your first home, here are some essential facts you need to know.
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.