Resi blog - latest home loan news
Bullish property prices and high rental demand are creating renewed interest in the investment property market, but warns all categories of borrowers to take the time to determine firstly if they really are investor property ‘ready’ before they take the plunge.
The current conditions for investing have not only peaked the interest of established borrowers but also first home buyers and ‘upgraders’ who have re-directed their attention to the merits of investing instead, because of recent rate rises.
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Posted in Buying to Invest, Interest Rates | February 19th, 2010 2 Comments » Tags: Budget, Equity, Home Loan, Home Loans, Interest Rates, Invest
Competition within the mortgage market is set to intensify further as rates rise, creating greater disparity among established lenders in relation to benchmark rates, loan-to- value ratios and sales and service models.
However that as a result of this industry re-alignment, the borrower will be the clear winner and will benefit from a wider product choice, more concentrated levels of customer service and clearer segmentation across the lending market.
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Posted in Interest Rates, Refinancing | February 18th, 2010 No Comments » Tags: Fixed Rate, Home Loan, Home Loans, Interest Rates, Lender, non-bank lenders, Refinance, variable rate
Resi Home Loans is proud to announce that they are the Your Mortgage overall non-bank winner for Best Value Introductory Loan for Switch & Save.
Their award winning product, Switch & Save tops competition within the non-bank category not only because of its current low variable introductory rate of 5.70%* but also thanks to its competitive revert rate that kicks in after 24 months and no start-up or ongoing fees.
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Posted in Buying to Invest, First Time Buyers, Interest Rates, Moving House, Refinancing | February 15th, 2010 No Comments » Tags: affordability, First Home Buyers, Home Loan, Home Loans, Interest Rates, Invest, Lender, Move House, Property, Refinance, Variable loan, variable rate
The rising rate environment is creating greater rate disparity among the big four banks on standard variable loans, leading many borrowers to wonder where the competitive benchmark rate really is in the market.
Comparing the standard variable rates of the big four banks to get an average ‘benchmark’ rate has been a commonly used way for borrowers to know if they were getting a good deal from their lender, but it is now becoming increasingly irrelevant.
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Posted in Buying to Invest, First Time Buyers, Interest Rates, Refinancing | February 3rd, 2010 No Comments » Tags: Home Loan, Home Loans, Interest Rates, Invest, Refinance, Variable loan, variable rate
From economists, to leading research companies, the last two articles have painted contradictory viewpoints on house prices and affordability.
What are your thoughts on this – are Australian houses unaffordable?
Posted in Uncategorized | January 28th, 2010 5 Comments » Tags: Home Loans; Budget; Affordability; First Home Buyers; Investment
With so much talk of increasing house prices and affordability – RP Data and Rismark are challenging this belief. From last week’s research, they claim that housing affordability has not declined since 2003. According to Rismark’s CEO, Christopher Joye, “There is an uninformed perception that houses are much more expensive now, compared to our household incomes, than they ever have been before.”
“But that is not correct, affordability in the housing market is not deteriorating rapidly, average house prices are not seven to eight times household incomes as is often quoted,” he says
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Posted in Buying to Invest, First Time Buyers, Moving House | January 28th, 2010 No Comments » Tags: affordability, Budget, First Home Buyers, Home Loan, Home Loans, Invest, Move House, Property
This has been a contentious issue over the years among both researchers and economists – but data from Australian Property Monitors and RP Data’s Rismark has reignited this in the last few days.
An Australian Property Monitors’ Quarterly Housing report revealed, “2009 ended with the strongest annual house price growth since 2003,” which supports the view that residential property is unaffordable. APM also revealed over the December quarter the Australian property market saw a 4.8 per cent rise in median house prices nationally and 12.1 per cent rise overall for the year.
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Posted in Buying to Invest, First Time Buyers, Moving House | January 28th, 2010 No Comments » Tags: affordability, Budget, First Home Buyers, Home Loans, Invest, Move House, Property
With several weeks left until the property market is back in full swing, first time borrowers should be using this quiet time now to ensure they’ve covered everything needed in terms of arranging pre-approval for loans and fine tuning property searches.
Too many times we see prospective buyers miss out on their dream home because they didn’t have all the necessary paperwork in order – and with the property market already set to heat up further in 2010, first time borrowers need to ensure this doesn’t happen to them.
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Posted in First Time Buyers | January 14th, 2010 2 Comments » Tags: Budget, First Home Buyers, Home Loan, Home Loans, Move House, Property, Renovate
Mortgage related insurances are set to become more popular this year as repayments rise and mortgage holders seek to protect their financial ability to keep their property.
The current rate climate is likely to jolt some borrowers into action to investigate what protection they can put into place, if the ability to pay their mortgage is affected by an event and many borrowers are blissfully unaware of the risk posed if they are unable to meet mortgage repayments because of sickness, prolonged illness, injury or death.
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Posted in Buying to Invest, First Time Buyers, Interest Rates, Moving House, Refinancing, Uncategorized | January 14th, 2010 1 Comment » Tags: Home Loan, Home Loans, Insurance, Lender, Lenders Mortgage Insurance
Rising interest rates in 2010 are likely to force some mortgage holders to refinance. With three consecutive rate rises already announced and more predicted for 2010 borrowers may find they need to refinance to a better mortgage alternative.
With rates now widening between loan providers and some borrowers feeling frustrated at an absence of customer empathy from their lender, now is the ideal time of year to decide whether you can work within the features of your existing mortgage to improve your cash flow. Or if you’re better off cutting your losses and paying break fees if necessary, by refinancing to a more appropriate loan and lender.
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Posted in Buying to Invest, Interest Rates, Refinancing | December 30th, 2009 1 Comment » Tags: Home Loan, Home Loans, Interest Rates, Refinance
