Home Guarantee Scheme to expand eligibility criteria – what you need to know

More Australian first home buyers may soon become eligible for the Home Guarantee Scheme, thanks to new changes to its eligibility criteria announced by the Federal Government. But if you or someone you know are looking to take a advantage of the scheme, it’s essential to familiarise yourself with the requirements involved. 

What is the earliest age you can get a credit score?

Whether you’re nearing the end of school, or you’re the parent of a child who is considering applying for financial products, understanding the basics of credit scores is essential. Australian credit reports may begin at 18 years old, but there are key things to keep in mind.

How much equity do I need to refinance?

There are many reasons why you might want to refinance your mortgage - to get a better interest rate, access your equity to fund a project, consolidate debt, or change your loan terms to better suit your changing personal and financial circumstances.

Some of the best home loans in April 2023

At its April 2023 meeting, the Reserve Bank of Australia (RBA) board decided to keep rates on hold at 3.60%. The next question is what will happen next – will interest rates be left on hold, or are more hikes in the pipeline? And what does this mean for Australian home owners and those looking to buy property this year?

Ten tips to know before refinancing your home loan

It’s relatively rare to stick with the same home loan for the entire loan term in Australia. Considering that refinancing is such an essential part of the mortgage process, it’s important to be aware of some of the common issues that could arise, as well as ways to help the process proceed more smoothly.

How often should you refinance your home loan?

There is no hard and fast rule as to how often you should refinance your home loan, though many Australian borrowers switch loans after five or six years. There are also certain events that could trigger a desire to shop around for a better mortgage deal.

What to expect from the RBA meeting in April 2023

Forecasting the next move by the Reserve Bank of Australia (RBA) board may not be as easy as it used to be. With a wide range of factors in play, economists from Australia’s big banks have not reached consensus on whether the RBA will hike the cash rate in April 2023, whether a rate pause may be on the cards, or when rates may be cut.

Does refinancing really save you money?

In a time when every dollar counts for household budgets, it’s no surprise so many Australians are looking to get a little breathing room from their mortgage repayments. But can refinancing your home loan really make a difference to an everyday household budget?

Should you refinance your home loan?

There are many different reasons why people choose to refinance their home loans, with each person’s decision being based on their own unique circumstances. Here are a few popular reasons why some people choose to refinance, to help you work out if one or more may apply to you at this time:

How long does it take to refinance?

Refinancing your home loan can help you enjoy a range of benefits, from lower interest rates to flexible features and benefits. However, the process of refinancing will require some time and effort. Depending on the lender and your financial situation, the refinancing process could take anywhere from a few weeks to just three days.