Just as our unique Australian landscape is vast and varied, so is the world of mortgage broking and home loan refinancing. This all-encompassing guide takes you on a journey through the refinancing terrain, from the rocky escarpments of home loans, government schemes, and insurance, right down to the fertile plains
Refinancing your home loan can be a smart financial move that allows you to access the equity you’ve built up in your home. Accessing this equity can provide you with additional funds for renovations, investments, or other financial goals. Here’s what you need to know about accessing equity by refinancing
Refinancing your home loan can be a smart financial move, but it can also be a complex and time-consuming process. Fortunately, working with a mortgage broker can make the process much easier and more successful. Here’s why refinance mortgage brokers are the key to successfully refinancing your home loan. Expert
Refinancing your home loan can be a great way to reduce your monthly mortgage payments, pay off your mortgage faster, or access equity in your home for other financial needs. However, to achieve these benefits, it is crucial to get the best interest rates possible when refinancing your home loan.
Refinancing your home loan can be a smart financial move, but it’s important to avoid common mistakes that can lead to higher costs and financial stress. In a rising interest rate environment, it’s imperative to approach refinancing with caution. In this article, we’ll explore the top mistakes to avoid when
Refinancing your home loan can help you save money on interest, reduce your monthly payments, and access cash for other needs. If you’re considering a refinance home loan, here are six tips to help you get the best deal on your home loan. 1. Understand Your Current Loan Before you
Refinancing a home loan can be a great way to save money, access equity, or improve your loan terms. However, the process can be lengthy and may take several weeks (6-8) to complete. If you’re considering refinancing your home loan, here’s what you can expect in terms of timing. Pre-Application
Refinancing your home loan can be a great way to save money, access equity, or improve your loan terms. However, it’s important to understand the process and potential risks before making a decision. If you’re considering getting a refinance home loan in Melbourne, here are some important things to keep
Incentives to help you enter the Australian property market as a first home buyer Entering the Australian property market can be challenging, with property prices experiencing record highs in the past few years. Not to mention the sharp increases in interest rates we’re experiencing in 2022. But all is not
With three months of successive rate rises, and more predicted to come throughout 2022, household budgets may be starting to feel the pressure of a changing economic environment. Following the successive 50 basis point rate rises in June and July, the current cash rate now sits at 1.35%. Up from
It’s official. After months of speculation it finally happened. The Reserve Bank of Australia (RBA) raised interest rates by 0.25 percent. It’s the first interest rate rise since November 2010 and for a generation of home loan borrowers, rising interest rates may come as something of a shock. While it’s
Should I fix my home loan in 2022? Fixed vs Variable home loans With the Reserve Bank of Australia (RBA) flagging an imminent interest rate rise, should you be fixing your home loan interest rate now before it’s too late? For the last few years, while the world’s economies battled
Interest rates are low. House prices are soaring. So why did APRA make changes to lending rules now? And who is likely to be affected? The Australian Prudential Regulation Authority (APRA) recently wrote to banks advising they must increase their buffer rate on home loans from 2.5 to 3 percentage points. And they only
Get ahead of the competition to buy your dream property One of the unexpected fallouts of the COVID-19 pandemic is the effect it’s had on the Australian property market. Initially Aussies were concerned about the Australian economy and braced themselves for property values to tumble. And although there was some
Back just a few short months ago COVID-19 felt like something that was happening overseas and we continued going about our normal routine. As we come out on the other side of March 2020, there is now no doubt, that this year has brought with it significant challenges for both
Before we headed to the polls in May 2019 the Government proposed a new First Home Loan Deposit Scheme. Aiming to make it easier to purchase your first home by reducing the time it takes to save up a deposit. It takes the average household around nine years to save
Lower interest rates and APRA’s easing of home loan rules is great news for buyers Following nearly three years of the official cash rate holding firm, the RBA delivered two consecutive cuts in June and July this year. The two 25 basis point cuts put the cash rate at a
If you’re a homeowner, you’ve probably heard of the idea of ‘refinancing’ your mortgage. Essentially, refinancing means securing a new home loan that repays and replaces your existing one. You may consider refinancing your mortgage to lock in a lower interest rate or take advantage of better loan terms or
In today’s competitive and ever changing mortgage market, its pays to review your home loan regularly to work out if you’re getting the best deal for your needs. And with Australia’s recent interest rate hikes, now is a good time to assess whether to stick with your existing mortgage or
If you’re looking to build your dream home or renovate an existing home, chances are you’ll need some help paying for the construction. The good news is you may be able to secure a special type of home loan known as a construction loan to help you achieve your goals.
Saving for a deposit and finding your dream property are only part of the journey to securing a mortgage and buying a home. There are plenty of other things you’ll need to consider, and navigating the home loan landscape can be overwhelming, especially if you’re a first home buyer. To
What will it cost to refinance my home loan? It’s a good idea to review your home loan each year to assess whether it continues to meet your needs and offers the best value for money. You might find refinancing your mortgage will save you money, help you streamline debt,
How to get a home loan when you’re self-employed? If you’re one of the two million Australians who is self-employed, you may be worried about your chances of securing a home loan. But while lenders are generally more cautious about offering mortgages to the self-employed than those on a regular
Why choose a mortgage broker over a bank? Mortgage brokers Melbourne or home loan brokers as they’re sometimes known are becoming increasingly popular with Australian borrowers. In fact, these days, they write more than 50% of all home loans. Here we look at some of the reasons why enlisting the
The types of mortgages and home loans in Australia With house prices at record highs, these days, getting a home loan is essential for most Australians looking to buy a new home. There are hundreds of home loans out there. And choosing the best loan for your circumstances can be
Over the past month, we’ve seen a lot of changes in the rates and compliance areas. Some lenders have tightened the investor-lending market, which has affected auction results through some capital cities. Although investor activity has been affected, first home buyer activities have increased. Mel Finance are committed to educating
The home loan application process is notorious for its complexity and tediousness. To make the process smoother for yourself, there are several tips and tricks you can employ, getting you closer to your dream home in Melbourne, faster! Of course, the basics go without saying, such as proof of identification
Where you choose to get your home loan from can affect the type of loan you get, meaning it’s important to think the decision through carefully. While many people turn to their bank for a loan, bear in mind that non-bank lenders might be a viable choice for you. What
The lending market is saturated with options, making it difficult to determine whether your home loan is the best deal for you. Comparing your options is always smart, but can quickly become an arduous task, given how much information there is to sift through. A great way to get around
When it comes to buying your first home in Melbourne, any bit of help you can get regarding your home loan is definitely welcome. What many people don’t know is that their profession may actually allow them to save money on their mortgage. This is bound to be welcome news
