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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.
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.
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
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
Posted in Buying to Invest, First Time Buyers, Moving House | January 28th, 2010 3 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.
Posted in Buying to Invest, First Time Buyers, Moving House | January 28th, 2010 1 Comment » Tags: affordability, Budget, First Home Buyers, Home Loans, Invest, Move House, Property
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.
Posted in Buying to Invest, First Time Buyers, Interest Rates, Moving House, Refinancing, Uncategorized | January 14th, 2010 5 Comments » 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.
Posted in Buying to Invest, Interest Rates, Refinancing | December 30th, 2009 3 Comments » Tags: Home Loan, Home Loans, Interest Rates, Refinance
Consumers should lower the limits on their credit cards to improve their ability to borrow for a home. High credit card limit reduces the amount a financier would lend to a borrower.
Lenders evaluate a loan application on a few criteria but a high credit card limit was considered to reduce a borrower’s capacity to repay a mortgage.
Posted in Buying to Invest, First Time Buyers, Interest Rates, Moving House, Refinancing | December 30th, 2009 2 Comments » Tags: Budget, Credit Cards, Home Loan, Home Loans
Each category of borrower, including owner occupiers, investors and first home owners should be looking at financial strategies to protect themselves from more rate rises. Apart from checking your loan’s features are still appropriate for you, owner-occupiers should be limiting discretionary spending, allocating more funds for their mortgage repayments. This will give them breathing space as rates continue to rise, as well as providing a slush fund for any necessary works on their property
Posted in Buying to Invest, First Time Buyers, Interest Rates | December 30th, 2009 No Comments » Tags: Home Loan, Home Loans, Invest, Move House
Despite the challenging economic times, borrowers still need to meet their financial obligations – including their home loan. So it’s a good time to take stock and see if you’re getting enough mileage from your mortgage.
Listed below are ten simple ways to squeeze the most from your home loan:
Posted in Buying to Invest, First Time Buyers, Interest Rates, Moving House, Refinancing | November 30th, 2009 No Comments » Tags: Debt Consolidation, Home Loan, Interest Rates
Each year Australians spend billions of dollars renovating or rebuilding their homes as they seek to improve their lifestyle, make adjustments to suit their changing circumstances, or simply enhance the value of their home.
As we grow in our relationships, our needs often change with regard to the home we live in. Our financial situation may improve which provides greater accommodation options, or indeed we may add to the family unit by having children or need to prepare for other family members to move into the home.
Posted in Buying to Invest, Interest Rates, Moving House | November 30th, 2009 No Comments » Tags: Invest, Move House, Renovate