As the Coronavirus pandemic continues to grip the nation, the Australian property market has stayed resilient and surprised economists, industry experts, and homeowners. Prior to lockdown, industry experts predicted property prices would plummet 10-20% across the board as a result of COVID-19. Concerns arose the pandemic would affect buying and selling amid job cuts, open […]
09
Jun
Jun
Lender’s Mortgage Insurance If you are looking to purchase a home and have a deposit of less than 20%, you can expect to pay a premium toward something called LMI. LMI, or Lender’s Mortgage Insurance exists to protect the lender if a client defaults on a home loan that is considered to be ‘high risk’. […]
15
May
May
Lenders can offer many features to go with home loans. We often hear of the terms like “offset account” or “redraw”, but there is another great feature you can take advantage of when organising your finances: Loan Splits. What is a loan split? A mortgage with a loan split facility is essentially one mortgage divided […]
19
Mar
Mar
Today Reduce Home Loans has taken out 8 Mozo Expert’s Choice awards across 13 total categories representing some of the lowest cost, highest value products in the home loan space. Financial comparison site Mozo has released its Home Loan Expert’s Choice Awards for 2020. These awards recognise the best value services across many financial sectors […]
03
Mar
Mar
Reduce Home Loans drops rates to historic lows following the RBA rate cut announcement Australia’s Cheapest Home Loan provider reduces its Home Loan rates by the full RBA Cash Rate reduction and slashes rates to 2.44%p.a. (2.47%p.a.*(1) comparison). Today’s RBA announcement saw the first Cash Rate drop for 2020 of 0.25%. The Cash Rate […]
28
Feb
Feb
With home loan rates the lowest they’ve ever been, most Aussies could spare a few minutes to review their rate and consider switching lenders. Why stay loyal to a bank when huge savings could be made by switching? New research from the Reserve Bank of Australia (RBA) has found borrowers with older variable rate home […]
21
Feb
Feb
If you own a property, the difference in the amount you own on that property and its market value is known as equity. When people mention equity, you may be asking some questions like how does equity work in property? The main benefit is your ability to access this equity to secure further finance for […]
11
Feb
Feb
House prices across the country are showing a rising trend, with the national dwelling value index increasing by 0.9% in January. According to CoreLogic, this takes the annual growth rate to 4.1% – the fastest growth pace over a twelve month period since December 2017. The increase reflects a massive 6.7% turnaround since the housing […]
06
Feb
Feb
For many of us, home loans tend to be a set-and-forget part of our finances. So what do we do if interest rates get a hike out of the blue? Repayments increase, and disposable income or savings take a hit. Any lender can choose to change their rates at any time for any reason. The […]
04
Feb
Feb
RBA Governor Phillip Lowe announces a hold to the official Cash Rate at 0.75% Today’s RBA meeting marks the first of 2020: The official Cash Rate will be held at 0.75%. However, many experts are tipping the rate to drop within the next few months following the ongoing national and global pressures. In a statement, […]