How to improve your chances of getting approved for a home loan

Unfortunately, many home loan applications are rejected for avoidable reasons, such as  unusually high living expenses, or providing incorrect documentation. Understanding what may lead to your home loan application’s rejection may help you to increase your home loan’s approval chances.

Rates on hold: What can I expect when my fixed rate period ends?

With home loan interest rates rising thanks to cash rate hikes from the RBA, mortgage holders sitting on fixed rates may be breathing a sigh of relief. But there’s a chance that there could be a sting in the tail at the end of each fixed rate term, which borrowers may need to watch out and prepare for.

Some of the top-rated home loans in September 2023

Just because the Reserve Bank of Australia (RBA) kept the national cash rate on hold at 4.10% for the third meeting in a row, that’s no reason for Australian home buyers to get complacent.  Major banks and mortgage lenders have still been raising their interest rates out of cycle from the RBA, making it important to also consider comparing offers from their smaller competitors. 

How much does it cost to break a fixed mortgage?

Choosing to refinance or repay a home loan during its fixed rate period often means the lender will charge you a break fee. The cost of this fee will vary based on how long is left on your fixed rate term and how much interest rates have changed since you applied for the loan. With break costs reaching tens of thousands of dollars in some cases, they may affect the overall value of your refinance.

Which banks are scrapping their cashback offers? And who is still offering them?

When mortgage interest rates are rising, many borrowers look for alternative ways to get value for money from their home loan. Cashback deals are one way that many mortgage lenders compete for customers in a rising rate environment, but record refinancing activity is leading some leading banks to pull their cashback offers.

Six bushfire facts that could save your life this summer

Bushfire season is a regular occurrence in Australia, to the point where many of us can start feeling overconfident that we already know everything there is to know about the danger bushfires pose and how to keep our homes and loved ones safe. 

Can I add someone to my home loan?

A joint application is one of the simplest and most common methods for two people to end up with their names on a mortgage. But adding a second person to a mortgage that’s already in place can be more complex, and will likely require refinancing.

When is the right time to buy home insurance?

Owning a home is a matter of great pride and joy for all of us. But homeownership also brings with it a great deal of responsibility. It may be worth considering purchasing home insurance as soon as you buy the house to guard yourself against any of the dangers that can possibly affect the health of your home.

What to expect from the RBA in September 2023

Third time’s a charm? Australia’s banks think so, with the big four expecting the Reserve Bank of Australia (RBA) to keep the national cash rate on hold at 4.1% for the third time in a row at its upcoming September 2023 meeting. But that begs the question – when will rates start falling again?

What is included in your home and contents insurance policy?

We all want to protect our homes and valuables from unforeseen disasters, but in case the worst does happen, you need to be confident you could afford to renovate the house and recover the cost of your valuables. This is where home and contents insurance comes in.