Property

Property

You are here: > >

Breaking your mortgage terms: is it worth it?Homeowners who fixed their rate back in 2007 are paying around $650 a month more on a $300,000 mortgage and probably still have another year of being locked in. Chances are these homeowners have already been dealt the harsh reality that if they break their expensive fixed-rate loan in favour of another, cheaper fixed rate, they’d be no better – if not worse off.

Fools rush in: Keep a cool head as a first time buyerThe extension of the First Home Owner Boost, announced in the May federal budget is a two-edged sword. There is no doubt the boost, which doubles the grant on existing homes to $14,000 and trebles it on new homes to $21,000, has helped many people buy their first homes.

NSW budget slashes stamp duty on new build propertyA surprise move from the NSW government to slash stamp duty on new homes has been lauded by industry experts as a vital step in alleviating the chronic shortage of housing in the state.

Beware of the home loan small print trapI’ve had a money reader gripe about redraw which really surprised me, but before I get to that I should explain what redraw is for those who may be hazy about it Redraw is a facility that’s available with most home loans. It allows borrowers to make extra loan repayments when their cash flow allows, and access to the funds whenever, and for whatever, they like. It’s a great feature to have on a loan because it saves you money.

Looking for a home loan?

Amount:

Rate type:

Purpose: