PETER'S BLOG

News Views and other stuff

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    Interest Only vs Principal & Interest – which is better?

    There is much confusion and chatter at the moment around the subject of interest only loans vs principal and interest repayments - Let's try and simplify things...

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    Stamp Duty and Regulatory Changes – what’s going on?

    If you are buying your first home, you will not be subject to ‘any’ stamp duty applicable to the purchase up to a purchase price of $600,000. Once you get over $600,000 then a sliding scale to $750,000 will determine how much stamp duty is payable

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    Reverse Mortgages – Explained.....

    To qualify for a reverse mortgage, the applicants need to be retired (over 65) and the maximum amount of loan available will depend on the age of those involved

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    Deposit Bonds - What are they and how do they work?

    Deposit Bonds – What are they and how do they work? Deposit Bonds are an alternative source of deposit funds for purchasing a property when you simply do not have the cash to use because your funds are tied up in another transaction that has yet to settle.

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    Genuine Savings – Please Explain!

    genuinely saved over time for use as a deposit on a property purchase. Sounds simple enough but the confusing part is that often, many lenders and the mortgage insurers have different interpretations on what is and isn’t classed as genuine savings!

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    Housing Affordability – Our First Home Buyers’ Greatest Challenge

    There’s hardly a day go by where this hot topic is not mentioned, discussed or debated in the media or on the streets. With property prices across most Australian capital cities escalating in recent years, it’s not surprising that housing affordability is seen as a real threat to the ‘Great Aust...

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    Happy New Year – investment lending, changes continue!

    The continuing dilemma for both real estate agents and buyers seems to be lack of stock supply. Prospective vendors are often choosing not to sell, holding onto their place of residence and opting instead to refinance to a more competitive home loan, renovate or build their investment property p...

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    Happy Holidays - That Time of Year Again

    According to the Grand Poobah at the Reserve Bank The year started quietly with an official cash rate of just 2.00% but then moved downwards to 1.75% in May

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    The Bank of Mum and Dad

    Despite changing times, this is one dream that endures and has carried over into each generation. However, for many young Australians, namely Millennials and Gen Y, this is a distant, if not impossible dream.

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    Security Property - What Will Lenders Accept?

    Many lenders are concerned with the high number of new apartments being constructed in and around 5km of Melbourne’s CBD - an estimated 9500 by the end of 2017. So is it any wonder that lenders have tightened up on their lending policies, especially where apartments are involved as security?

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    Refinancing - Why You Should Bother

    Apart from the fabulous benefit of potentially saving thousands of dollars in interest paid on your mortgage, refinancing your current home loan may also provide other opportunities to save, invest or make your money go further

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    Fixed rate Loans...Yes or No?

    We touched on this subject briefly back in April 2012 when 3 year fixed rates were around 5.99%

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    Interest Only Home Loans…Yes Or No?

    When we asked our borrowers why they chose an interest only loan in the first place, the general response is somewhat concerning