Housing Market Update February 2017
Beach house on a budget, is there really such a thing? The holidays are over and it’s time to head back to the chaos of Sydney and back to work. A depressing thought for many of us as we dream of a quieter life by the sea.
Today the Reserve Bank of Australia announced they will be cutting the official cash rate by 25 basis points to a new historic low of 1.5 per cent.
Renovating a home is a major expense but if you’re willing to put some time and energy in, you can save thousands by sourcing your own prime cost items, otherwise know as PC items. Below is a list of the cheapest suppliers in Sydney for prime cost items, that I was able to find.
Interest rate cuts are welcome news to Australian home owners as banks respond to this months RBA decision. Yesterday, 3rd May, the Reserve Bank of Australia cut the cash rate by 25 basis points to 1.75% which is an all-time low in Australia.
You can easily pay off your mortgage faster with very small changes that won’t have an affect on your day to day finances. Many people think that the only way to save money on a home loan is to pay large amounts of additional repayments that they just can’t afford – this is not the case. There are many small changes that you can make that will dramatically reduce both the amount of interest you pay over the life of your loan and the years it takes to pay off.
It’s important to know the things that affect your credit score and what this means for your ability to get a loan. A Credit score is a number calculated from your credit history that determines if you are a good risk for a financial institution to lend money to. In Australia, an average credit score is 749, but a good score can range between 622 and 1200.
Considering purchasing a house for an investment property and not sure where to look? Below are Australia’s top 10 suburbs with the average highest rental yield for houses (note these figures do not include units).
Most mortgage brokers in Australia provide advice and services to their customers free of charge, this is because they are paid mortgage broker commission by the lenders when they get a loan settled for a customer. Mortgage broker commission is paid in two ways by the bank or finance lender for each loan that goes through, these are called upfront commission and trail commission.