Home lending

10/03/22

Property Reports

PEXA Property and Mortgage insights reports that buyers splashed out on Australian property, summing to a total of $688.7B.  The value of sale settlements jumped nationally by $251.0B, being an increase of 57.3% on 2020.  
07/07/21

RBA Holds Interest Rates

The Reserve Bank has left the official interest rate at a record low of 0.1% for the eighth month running, after meeting on the 6th July 2021.  While there is no change to the cash rate target, the RBA has signaled that a rise may still come a little earlier than first indicated.  
18/06/21

Federal Budget 2021

Government announced it’s approach is to enable banks to lend to people who have not be able to save a house loan deposit. First Home Buyers 5% Scheme, rebranded as New Home Guarantee for 10,000 eligible First Home Buyers. New Family Home Guarantee is designed to assist eligible single parents buy a home with a […]
20/04/21

Property Market Boom!

The RBA is keeping interest rates at the historically low of 0.1%, noting that the housing market has strengthened.  Growth to owner occupiers had picked up, and strong demand from first home buyers.  Research from CoreLogic showed that home prices soared at the fastest rate in 32 years in March. The bank will continue to […]
26/03/21

Proposed Changes to make Home Ownership More Achievable

Proposed changes to Stamp Duty, may provide freedom to choose paying Stamp Duty upfront or paying a smaller annual property tax.  Removing the upfront Stamp Duty cost, removes thousands of dollars from the home purchase process making home ownership more achievable.  This proposed change is only if purchasing.  There is no change if you have […]
04/01/20

2020 – New First Home Buyers Scheme

First Home Buyers will have an opportunity to enter the property market with a smaller deposit under a New Federal Government (new home loan deposit) Scheme which commenced 1st January 2020. Under the scheme, first home buyers with a deposit as small as 5% may be able to apply for a mortgage, which the government […]
13/09/19

Deposit gap scheme opens the door to home ownership: UDIA’s Connie Kirk

 The introduction of legislation giving effect to the Commonwealth Government’s deposit gap scheme is the first step in easing the pathway to home ownership. The scheme – promised on the eve of the federal election – helps reduce barriers to home ownership by closing deposit savings requirement and effectively reducing mortgage insurance costs. We welcome […]
23/08/19

Non Bank Lenders emerging to help new home owners

Tighter lending standards introduced after the Royal Commission have put banks under the spotlight. This, as well as efforts by the Australian Prudential Regulation Authority (APRA) to slow growth to investment lending, have made it difficult for borrowers to get a home loan. This crackdown is in place to reduce the likelihood of customers defaulting […]
23/05/19

Finally a First Home Owner Loan Deposit scheme

Prime Minister Scott Morrison has announced a new First Home Loan Deposit Scheme that will enable first home buyers to access a mortgage with a 5 per cent deposit. Mr Morrison said: “It can take nine to 10 years for an average household to save a deposit. We want to help Australians realise the goal […]

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