Get a Guarantor A guarantor loan enables an existing Australian homeowner, such as your parents, to provide a limited guarantee for your mortgage. The guarantor uses equity in their own property as security for the borrower’s deposit. The primary security for the loan is still the borrower’s new property. Lenders offering these loans also put […]
A credit union is campaigning for clearer home loan rate advertising from lenders, saying very few Australian know how to correctly interpret ‘bank advertisements’ financial content. Consumer research by People’s Choice Credit Union showed 70.4% out of 1520 people surveyed thought bank adverts were ‘confusing’ and 64.7% believed they were ‘clear’. Only a third of […]
The Reserve Bank of Australia has confirmed the popular view that interest rates will remain at record lows for the foreseeable future. The board agreed at its recent monthly meeting(/breaking-news/30318-rba-announces-cash-rate-decision) that the 2.5 per cent cash rate was “likely to be appropriate for some time yet,” according to the minutes released yesterday. That decision was […]
New research has revealed that Australians are worried about repaying their home loans, with household debt reaching 25-year highs. The Australian Bureau of Statistics reported that the level of household debt at the end of 2013 was $79,000 per person, which it said was higher than at any time in the past 25 years. Household […]
A continuing strong housing market was one of the factors why the Reserve Bank board decided to keep the cash rate on hold this month and likely for some time yet. “Although the most recent data had indicated a decline in the housing market, dwelling approvals remained at high levels and the flow-on to commencements […]
Australians seem divided about whether foreign investment is a threat to the housing market or an opportunity. The Inquiry into Foreign Investment in Residential Real Estate has received submissions from ordinary Australians that voice concerns about housing bubbles, ‘dirty money’ and rule-breaking. One submission said foreign investment is creating “ unprecedented price pressure on residential […]
NAB has revealed it does not expect an interest rate rise until the last quarter of 2015, defying industry predictions the RBA could move as soon as September. Speaking at a NAB Federal Budget Breakfast in Sydney yesterday, the bank’s global head of research, Peter Jolly, said the bank’s forecasts were that the RBA was […]
The Adviser recently stated one in five potential buyers are unable to seal a deal because they cannot obtain finance, according to a new survey. The survey, conducted by property website realestateview.com.au, found 21 per cent of respondents nominated securing a loan as one of the main obstacles to purchasing a property. The Housing […]
The financial situation of Australian households has deteriorated over the last quarter, yet more Aussies are willing to spend their savings – the Australian Broker Online reports The St. George and Melbourne Institute household financial conditions index decreased 7.9% to 122.2 in March, which is 1.8% below its value a year ago. The proportion of […]
The Advisor – Australia’s mining boom has ended and been replaced by a housing construction boom, according to a report released by the Commonwealth Bank. However, mineral-rich Western Australia continues to be Australia’s best-performing economy and the strongest in housing finance. It is also second in economic growth and third on housing starts, according to […]
