Aussies think it’s a great time to buy property

Aussies think it’s a great time to buy property

Tweet Most Australians think it’s a great time to get into the property market, despite also thinking that house prices will fall further, according to Westpac’s monthly consumer sentiment survey. The survey showed an 11.8 per cent surge in respondents thinking now is the right time to buy a property — this is 17 per cent higher than just a year ago. It seems to be property buyers in NSW who are most keen to get into the market, with the state’s ‘time to buy a dwelling’ index surging 26 per cent to a five-year...

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Why your credit score might have changed recently

Why your credit score might have changed recently

Tweet There’s a good chance that many Australians would have seen their credit scores go up recently thanks to a national change to credit reporting that happened on July 1. This change, known as Comprehensive Credit Reporting (CCR), means that lenders are now required to share a customer’s full credit history with each other, both positive and negative, so they can see a clearer picture of your financial past. Previously, lenders only needed to share negative information such as defaults and overdue payments etc., but now positive...

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The 3 ways you can grow your home equity

The 3 ways you can grow your home equity

Tweet The way to create wealth through home ownership is to build up your home equity. Equity is essentially the market value of your property, minus what you owe to the bank. If you‘re paying off the principal of your loan and your property is increasing in value then you should be steadily building up the amount of equity you have. 3 ways to build your equity Increase your mortgage payments First off you should make sure that you choose the right home loan so you’re not paying high rates and have features such as an offset account...

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Tips for those selling over the festive season

Tips for those selling over the festive season

Tweet The countdown to Christmas is well and truly underway with just five weeks left until the big day! With not much time left until Christmas Day, some homeowners may hold off on selling their properties until after the New Year, however if you don’t want to wait then there are still plenty of eager buyers around. Families in particular may be trying to secure a home before the start of the 2019 school year. Those who do sell over the Christmas period do need to be aware that it brings about particular circumstances that are unique to...

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What to do when your interest-only period expires?

What to do when your interest-only period expires?

Tweet Interest only property loans have been popular amongst investors in recent years, with many hoping to jump on the property bandwagon while making minimal repayments. According to finder.com.au, interest only loans made up 42% of new lending in 2014-2015. With many interest only periods lasting for just 5 years, many borrowers are about to find themselves up for paying both the principal and interest on their loan, which can be a significant increase. Starting to pay off the principal of your loan can be seen as a good thing, as it will...

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