Refinancing
Tuesday, May 4th, 2010
The rising rate environment is leaving some heavily mortgaged borrowers – particularly those with more than an average $300,000 loan – scrambling to find ways to fund the significant increases in monthly repayments that have occurred since October last year.
With the announcement of a sixth rate rise by the Reserve Bank, these borrowers will be forced to look outside the square for ways to fund the increase in their mortgage repayments and will have to assess all aspects of their lifestyle and spending habits. (more…)
Posted in Buying to Invest, First Time Buyers, Interest Rates, Refinancing | May 4th, 2010 4 Comments » Tags: affordability, Comparison rate, Equity, First Home Buyers, Home Loan, Home Loans, rate rise, Refinance, Variable loan, variable rate
Wednesday, April 7th, 2010
Borrowers looking for a low interest rate need to pay just as much attention to the comparison rate on the loan to determine if the loan is as good as it seems.
As rates continue to move and competition hots up in the mortgage market, borrowers hunting around for the best standard variable rate need to also check the comparison rate because it will give them a better indication of the loan’s true cost. (more…)
Posted in Buying to Invest, First Time Buyers, Home Loan Tips, Interest Rates, Refinancing | April 7th, 2010 No Comments » Tags: Comparison rate, Fixed Rate, Home Loan, Home Loans, Interest Rates, Lender, rate rise, Variable loan, variable rate
Monday, March 29th, 2010
As competition between lenders heats up again, borrowers need to recognise the tell-tale signs that it could be time to refinance and see if they can get a better deal.
Whilst it’s common for many borrowers to occasionally feel frustrated by their mortgage, it is another thing altogether to determine whether it’s financially worth acting and the time is right to move to greener pastures. (more…)
Posted in Interest Rates, Refinancing | March 29th, 2010 1 Comment » Tags: Budget, Fixed Rate, Home Loan, Home Loans, Interest Rates, Lender, non-bank lenders, rate rise, Refinance, Variable loan, variable rate
Tuesday, March 23rd, 2010
2010 has turned into the year where non-bank lenders have escaped the shadow of the big banks! And with interest rates on the rise, competition is getting stronger which means consumers can gain greater value out of their loans if they do their research. (more…)
Posted in Buying to Invest, First Time Buyers, Home Loan Tips, Interest Rates, Refinancing | March 23rd, 2010 No Comments » Tags: affordability, Budget, Credit Cards, Debt Consolidation, Equity, First Home Buyers, Fixed Rate, Home Loan, Home Loans, Interest Rates, Invest, Lender, non-bank lenders, rate rise, Refinance, Variable loan, variable rate
Thursday, February 18th, 2010
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 3 Comments » Tags: Fixed Rate, Home Loan, Home Loans, Interest Rates, Lender, non-bank lenders, Refinance, variable rate
Monday, February 15th, 2010
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
Wednesday, February 3rd, 2010
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
Thursday, January 14th, 2010
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 5 Comments » Tags: Home Loan, Home Loans, Insurance, Lender, Lenders Mortgage Insurance
Wednesday, December 30th, 2009
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 3 Comments » Tags: Home Loan, Home Loans, Interest Rates, Refinance
Wednesday, December 30th, 2009
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.
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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
