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Category >> mortgage
Australia’s borrowing at an all-time high, with each member of the population having an average debt of around $50,000 – twice the level of five years ago. Thankfully, total personal assets have also risen, drawn up by substantial rises in house prices, superannuation and the share market.
Nevertheless, with ever-increasing levels of household debt it's no wonder that debt consolidation personal
A few years back prior to buying my first home, I bought my first car and also at around the same time applied for my first credit card. Whilst this was my only alternative at the time due to a lack of savings, it wasn’t such a big deal as it was my only financial commitment. Things have now changed and with the rising home loan interest rates, I have suddenly found my overall level of monthly
With ever-increasing levels of household debt it's no wonder that debt consolidations are gaining popularity. Debt consolidation is a real option for most borrowers regardless of their circumstances in that interest rates on personal loans, car leases or other unsecured debt is always higher that that payable on a mortgage secured over real estate. Most borrowers however only consider debt
A record number of Australians will suffer mortgage stress and will face difficulty in paying their mortgages this year with a percentage of those risking repossession of their homes. A refinance of your loan may be an option that will assist in relieving this stress. As a matter of course you should review your home loan terms and conditions each year to check that they are the most suitable for
People refinance by moving to another loan but on new terms. Mortgage refinancing is something which can also enable a borrower to borrow more money to consolidate debts or for other purposes taken that they can afford to meet the repayments on the larger loan amount.
Here are some of the common reasons why people refinance:
1. To save money
2. To refinance to a lower monthly repayment – this is
A refinance is the process whereby you repay your existing home loan by taking out a new loan. When they refinance borrowers take out a new loan to completely pay out early and thus replace their existing/previous loan.
With home loans being the most significant financial commitment of a lifetime for a lot of people, and with home loans rates being on the move, a lot of borrowers start
As the global credit crisis continues to play havoc with interest rates in Australia many borrowers are scurrying for relief by seeking to refinance their home and investment loans.
However this refinance strategy does not always achieve its objective and borrowers can often be left in a worse position than that which was the status quo.
It is important that proper research be conducted before a
Recently, I embarked on a household budget plan. I began in the usual manner such as accounting for daily, weekly, monthly and to a lesser extent annual expenses and how I could save a ‘buck’ or two or even just trim costs by changing my payment methods. What amazed me the most about my strategic plan was that once I had listed what I thought were my main expense items, I had overlooked the most
Whenever it makes financial sense to do so.
Mortgage Refinancing? In the past, most people who took out a Mortgage continued with it until they had paid it off. These days, people refinance their Mortgage much more frequently. The average duration of a Home Loan in Australia now is just 4-5 years. Here we look at some of the reasons people in Australia refinance their Home Loan.
Mortgage
Many borrowers in Australia are experiencing mortgage stress for the first time because of the increase in interest rates over the last 2 years. When rates are increasing borrowers often consider a refinance of their existing mortgage because they see lower rates advertised in the newspapers and on TV. The fact is that all lenders obtain funds form much the same sources and certainly the majority
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Austral is a member of the Mortgage & Finance Association of Australia (formerly MIAA), the professional body for the mortgage industry.
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