How to prepare for spring property season
19 Aug 2019
It might not be quite hot enough to bring out your two piece and hit the beach, but something that is definitely heating up is the spring property season in the wake of record low home loan interest rates.
Just the way nature intended it, spring is all about excitement and new beginnings, so it’s no surprise the property market is roaring as soon as September hits. But, before you get swept up in the glorious weather, open houses and countless auctions, there are a few things you should prepare before diving in head-first for that big purchase.
We spoke to our Property Expert, Steven Jovcevski, about how to best prepare for the spring property season if you’re in the market to buy:
Get your finances in order
Cut back your expenses before you apply for a home loan. Pay off any unnecessary credit cards or personal loans, reduce credit limits or get rid of them altogether if you can. Shop around for the best home loan interest rates, compare the benefits and update your pre-approval with your lender of choice.
Fine-tune the numbers
Work out your deposit and how much money you need to purchase the property in your sights. Take into account stamp duty and other associated expenses with buying a property. Remember 10% deposit is minimum if you have stamp duty to pay and 5% if you are not paying stamp duty as a first home buyer. Most importantly - be realistic about your budget!
Reassess the market
In Sydney and Melbourne, clearance rates have increased and prices are creeping up in some suburbs. A big difference to a few months back, where prices were dropping steadily. Do your research on prior sales in the area, but expect to pay a bit more than a few months ago, reevaluating previous expectations.
Inspect. Then inspect again
You’ll see a myriad of properties for sale during spring, but make sure that if you find one you like, and see it more than once. Go to as many open houses for it as you can, and to try going at different times, as you’ll get a different perspective for the property from the morning to the evening.
Low rate home loans August 2019
Rates updated daily. Advertiser disclosure.
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Mozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Offset Home Loan - 2021
- Low Cost Home Loan - 2021
Smart Booster Home Loan
1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required. Winner of two Mozo Expert's Choice Award for 2021.
Smart Booster Home Loan
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required. Winner of two Mozo Expert's Choice Award for 2021.
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1.99% p.a.variable for 12 months and then 2.48% p.a. variable
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2.47% p.a.
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$520
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$0.00
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$0.00
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yes - free
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yes - free
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Optional - with 0.10% additional interest
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$520
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80.00%
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$50,000
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$1,000,000
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Variable
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Smart Booster Home Loan
Details Close
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1.75% p.a.
fixed 3 years2.22% p.a.
$1234
Product details Close detailsUHomeLoan
Owner Occupier, Principal & Interest
1.75% p.a.
fixed 3 years2.22% p.a.
$0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
UHomeLoan
$0 fees and easy application. Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
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1.75% p.a.
fixed 3 years -
2.22% p.a.
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$0
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$0.00
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$0.00
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yes - free up to $20,000 p.a.
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no
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no
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$0
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80.00%
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$100,000
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$2,000,000
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Fixed
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Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$395 Establishment fee waived for fixed rate loans that settle by 30 September 2022. Receive 1.75% 3 year fixed rate when you apply by 29 April 2021 and settle within 90 days.
Read our Mozo Review to learn more about the UHomeLoan
Details Close
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2.09% p.a.
fixed 3 years2.43% p.a.
$1234
Product details Close detailsBasic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
2.09% p.a.
fixed 3 years2.43% p.a.
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
Basic Home Loan
Get a flexible loan structure with up to six loan accounts with different rate types. Make free extra repayments. Enjoy free redraw facility. No upfront or ongoing fees. Option to earn Qantas points.
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2.09% p.a.
fixed 3 years -
2.43% p.a.
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$0
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$0.00
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$400.00
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yes - free
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yes - free
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no
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$0
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70.00%
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$150,000
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$750,000
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Fixed
-
Principal & Interest
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Owner Occupier
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Monthly
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Read our Mozo Review to learn more about the Basic Home Loan
Details Close
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Mozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
2.19% p.a. variable
2.19% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Home Loan Innovation - 2021
- Investor Home Loan - 2021
- Low Cost Home Loan - 2021
Celebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
2.19% p.a. variable
2.19% p.a.
Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.
Celebrate Variable Home Loan
Fast and efficient online application. Automatic discounts as loan is paid off. Free extra repayments and redraw facility. Zero fees to consider. Min 40% deposit required. Winner of three Mozo Expert's Choice Award for 2021.
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2.19% p.a. variable
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2.19% p.a.
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$0
-
$0.00
-
$0.00
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yes - free
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yes - free
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no
-
$0
-
60.00%
-
$100,000
-
$2,000,000
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Variable
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Celebrate Variable Home Loan
Details Close
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1.89% p.a.
fixed 2 years2.15% p.a.
$1234
Product details Close detailsFixed Home Loan
Owner Occupier, Principal & Interest
1.89% p.a.
fixed 2 years2.15% p.a.
Award-winning low rate home loan that could save you thousands. No application or ongoing fees, fee-free redraws, unlimited additional repayments and an optional offset account for $10/month. Minimum 10% deposit. Winner of Mozo’s Experts Choice Award for Online Home Lender of the Year 2021.^
Fixed Home Loan
Award-winning low rate home loan that could save you thousands. No application or ongoing fees, fee-free redraws, unlimited additional repayments and an optional offset account for $10/month. Minimum 10% deposit. Winner of Mozo’s Experts Choice Award for Online Home Lender of the Year 2021.^
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1.89% p.a.
fixed 2 years -
2.15% p.a.
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$0
-
$0.00
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$325.00
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yes - free, up to $20,000 p.a.
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yes - free
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Optional - $10 per month
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$0
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90.00%
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$50,000
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$2,000,000
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Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
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Read our Mozo Review to learn more about the Fixed Home Loan
Details Close
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1.89% p.a.
fixed 2 years3.67% p.a.
$1234
Product details Close detailsSpecial Fixed Rate Home Loan Premium Plus Package
Owner Occupier, Principal & Interest
1.89% p.a.
fixed 2 years3.67% p.a.
Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.
Special Fixed Rate Home Loan Premium Plus Package
Great fixed low rate. Ability to split your loan between fixed and variable. Insurance discounts and $0 credit card or personal loan fee available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Enjoy local branches and call centre.
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1.89% p.a.
fixed 2 years -
3.67% p.a.
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$0
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$395.00 yearly
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$0.00
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yes - free up to $25,000 p.a.
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yes - free
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no
-
$0
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80.00%
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$5,000
-
-
-
Fixed
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$2,000 cashback when you refinance your home loan from another financial institution when you apply by 30 June 2021 and are funded by 31 August 2021, min $250k, LVR <80%
Read our Mozo Review to learn more about the Special Fixed Rate Home Loan
Details Close
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Hot Deal $3,000 cashback when you refinance with Virgin Money (T&Cs apply)
1.94% p.a.
fixed 2 years2.77% p.a.
$1234
Product details Close detailsSpecial Offer Reward Me Fixed Rate Home Loan
Owner Occupier, LVR <80%, 300k+
1.94% p.a.
fixed 2 years2.77% p.a.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
Special Offer Reward Me Fixed Rate Home Loan
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
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1.94% p.a.
fixed 2 years -
2.77% p.a.
-
$450
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$10.00 monthly
-
$350.00
-
yes - up to $10,000 per annum
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no
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no
-
$450
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80.00%
-
$300,000
-
-
-
Fixed
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
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$3,000 cashback for new borrowings of at least $300,000, applications by 28 May 2021, settled by 27 August 2021.
Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan
Details Close
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Mozo experts choice awards won:
- Offset Home Loan - 2021
2.17% p.a. variable
2.20% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Offset Home Loan - 2021
Well Balanced
Owner Occupier, Principal & Interest, LVR <80%
2.17% p.a. variable
2.20% p.a.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Award for 2021.
Well Balanced
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed. Offset Home Loan winner in the Mozo Expert's Choice Award for 2021.
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2.17% p.a. variable
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2.20% p.a.
-
$785
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$0.00
-
$300.00
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yes - free
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yes - free
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Optional - $10 per month
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$785
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80.00%
-
$200,000
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$2,000,000
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Variable
-
Principal & Interest
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Owner Occupier
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Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Well Balanced
Details Close
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Hot Deal $3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
Mozo experts choice awards won:
- Fixed Rate Home Loan - 2021
1.89% p.a.
fixed 2 years3.05% p.a.
$1234
Product details Close detailsMozo experts choice awards won:
- Fixed Rate Home Loan - 2021
Discount Fixed Rate
Owner Occupier, Principal & Interest, <80% LVR
1.89% p.a.
fixed 2 years3.05% p.a.
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply). Fixed Rate Home Loan Winner in the Mozo Expert's Choice Award for 2021.
Discount Fixed Rate
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply). Fixed Rate Home Loan Winner in the Mozo Expert's Choice Award for 2021.
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1.89% p.a.
fixed 2 years -
3.05% p.a.
-
$450
-
$10.00 monthly
-
$350.00
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yes - free up to $5,000 p.a
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no
-
no
-
$450
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80.00%
-
$150,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
$3,000 cashback when you refinance your home loan to BOQ, min $250,000, 80% LVR or less. Apply before 28 May 2021, settle by 27 August 2021.
Read our Mozo Review to learn more about the Discount Fixed Rate
Details Close
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1.89% p.a.
fixed 3 years3.03% p.a.
$1234
Product details Close detailsFixed Rate Home Loan Package
LVR <80%, Owner Occupier, Principal & Interest
1.89% p.a.
fixed 3 years3.03% p.a.
A People’s Choice 3 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.
Fixed Rate Home Loan Package
A People’s Choice 3 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.
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1.89% p.a.
fixed 3 years -
3.03% p.a.
-
$0
-
$395.00 yearly
-
$350.00
-
yes - free up to $10,000 p.a
-
no
-
no
-
$0
-
80.00%
-
$100,000
-
-
-
Fixed
-
Principal & Interest
-
Owner Occupier
-
Weekly, Fortnightly, Monthly
-
Read our Mozo Review to learn more about the Fixed Rate Home Loan
Details Close
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^See information about the Mozo Experts Choice Home loans Awards
