Category: Borrowing

The price of home loan loyalty – is it time to make the switch?

When you first took out your home loan, you probably did a significant amount of research by comparing deals, reading customer reviews and speaking to friends and family. But alas the years have slipped by and you continue to make your monthly mortgage repayments without a second thought. Sound familiar? Well, this mortgage mistake could…

Owner occupier mortgage market heats up with rates under 4%

Now more than ever is a great time to be an owner occupier. Over the year, the home loan market has seen huge changes with banks and financial providers increasing interest rates for investors and tightening deposit restrictions, whilst lowering rates for owner occupiers. The reason for this shift is due to APRA’s recommendations that…

Which lenders are tightening restrictions for investors?

If you’re a property investor in Australia you’ve probably heard there has been a sweep of changes to investment loans, as the Australian Prudential Regulation Authority urges providers to slow their investor books to under a 10% annual growth. APRA’s pressure on lenders seems to be working with new lending to property investors falling by…

Will You Be Credit Card Debt Free Before You’re 100?

The Great Pyramids were built in 20 years, the Sydney Opera House in 14 years and the Coliseum only took eight years. But if you’re only making the minimum monthly repayments on your credit card did you know it could take you more than 100 years to repay your debt? In fact Mozo has found…

Don’t let home lending jargon ruin your buying confidence

Purchasing a home is a big decision and not something many people do often, so there’s no surprise people get stumped when it comes to the jargon they hear around home lending. Guest blogger Kathryn Plevey, from Heritage Bank runs through some of the basics: Think about your job – whether you’re a mechanic, builder,…