As the property market continues to boom, experts expect lenders and regulatory authorities to step in to prevent further overheating by raising interest rates. Here is a quick look at increasing interest rates for existing and prospective borrowers. #1 Prospective...
Knowing how much to save for a deposit is a great way to stay disciplined and on track to meet your homeownership goals. Here is some information to help you find the magic number. Calculate Your Borrowing Power Your deposit depends on the price of the property you...
Refinancing can be a smart move, but it does not always work out for the better. For example, tighter lender approval processes, including changes to living expense calculations, can reduce your options for shopping around. Also, remember that what you borrowed when...
It is no secret that construction costs are on the rise in Australia. A report from CoreLogic showed that national construction costs increased by 7.3% over the 2021 calendar year. This rate of increase is the highest annual growth in construction costs since March...
If you are self-employed or work as a contractor, getting a home loan is not always easy. Your income is more likely to fluctuate, your work is not guaranteed, and typically evidence of income can be challenging to produce. Tax returns and financials may paint a...
As per industry estimates, last year, ATO’s average tax refund amount (Australian Taxation Office) stood at $2,365 (Source Accountants Daily). Filing taxes on time allows you to receive a timely tax refund which could help you strengthen your loan application with a...
