In a recent turn of events, younger Aussies are now scoring big time on the property market at record levels, according to CommSec, and the number of delinquent home loans has dropped.
Redraw facilities, offset accounts, split home loans and interest vs comparison rates - these are the home loan terms that a large portion of Aussies find pretty damn baffling according to new data from Gateway Credit Union.
The property market is an expensive place to be these days, but we’ve uncovered a strategy that might allow homebuyers to loosen the budgetary belt a bit: haggling.
1 in 3 Aussies have a less than one month buffer on their home loan repayments, despite the recent decline of interest rates, according to the Reserve Bank of Australia’s biannual Financial Stability Review.
Change is rife in consumer banking right now, with a host of brand new banking products hitting the market.
With Sydney’s property boom beginning to slow at last, the inner city and eastern suburbs homeowners have been hit hardest by backsliding prices, with declines of a massive 6% over the September quarter, according to Domain’s latest State of the Market report. But hopeful first home buyers shouldn't get too excited just yet.
As it gets harder for first homebuyers to step into the property market, many Aussies have begun looking to long-term renting. And thanks to a recent review of the Victorian Residential Tenancies Act, Victorian Premier, Daniel Andrews, has announced a new set of rules, designed to give renters more power and greater access to information.
Scoring a lower rate on your home loan may be as easy as asking for it, with the big banks willing to offer discounts of up to 0.82% to those willing to haggle, Mozo’s annual home loan mystery shop has revealed.
Queensland car insurer RACQ, which last year merged with QT Mutual Bank, has now launched as RACQ Bank, and hopes to offers Aussies an alternative to the big banks when it comes to banking products like home loans.
Despite the intense focus on rising house prices and stagnant wage growth among politicians and media outlets, the struggle for first home buyers trying to enter the Australian property market has continued - but it seems many may be finding a solution in ‘rentvesting’.