Can you buy a house with a reverse mortgage?

Unlike a typical home loan, a reverse mortgage is often taken out by people who already own a home. A reverse mortgage allows equity in the home to be unlocked and used on other expenses, but it may not be easy or even possible to buy a home with a reverse mortgage. 

Rate rises costing us sleep: five stress-relieving savings tips

Interest rates and inflation aren’t just affecting our wallets, but our mental health. New data shows that young Australians are literally losing sleep over the rising cost of living.

How much of my pay should go to savings?

Whether you earn a salary or run your own business, you need to look over your finances from time to time to make sure what you earn meets your needs and lets you put aside some money for a rainy day. If you find yourself wondering how much you should save up, you may not find an easy answer. However, you can approach the question from a couple of different angles.

Choosing between a hatchback or an SUV for your family

Getting a new car could significantly enhance your lifestyle by offering freedom and convenience. If you’re torn between a sports utility vehicle (SUV) and a hatchback, it’s important to choose a car that will suit your style and needs.

Can you convert a personal loan to a home loan?

If you are juggling multiple debts, one way to simplify your finances is by consolidating your debts into a single loan. Converting from a personal loan to home loan can result in a more affordable, single loan under certain conditions.

Is now the time to renovate your home?

Renovating a property could potentially greatly improve your lifestyle at home, or increase the value of your investment. But when is the best time to consider undertaking a renovation project, and are there any risks or hazards to avoid?

What's the minimum deposit for a home loan in Australia?

How much a bank may be willing to lend you to buy a property will depend on a range of factors, including your income, household expenses, savings, other debts, credit score, and the size of your deposit. In most cases, a lender will offer an 80 per cent LVR (Loan to Value Ratio) home loan, meaning they’ll lend 80 per cent of your home’s value, and you need to pay the remaining deposit of 20 per cent. 

Some of the best home loans for refinancers and investors in February 2023

The most recent meeting of the Reserve Bank of Australia (RBA) board brought us a 25-point hike to the national cash rate, along with assurances that more rate rises are coming. Australians looking to refinance the mortgage on their home or investment property may need to carefully compare their available options to make sure they’re getting a deal that suits their needs.

Which banks have hiked term deposits and savings accounts in February 2023?

The ninth consecutive increase to Australia’s national cash rate was revealed last week, making this the fastest hiking cycle in decades. The Reserve Bank of Australia (RBA) has indicated that more rate hikes may be necessary in 2023 to help bring down Australia’s high inflation. This may mean more pain for mortgage holders, savers could potentially benefit from rising rates.

Who is still offering low-rate home loans after the February 2023 rate hike?

February 2023’s meeting of the Reserve Bank of Australia (RBA) board saw a ninth straight hike to the national cash rate. The 25-point increase took the cash rate to its highest point since 2012. While several banks have already announced they will be passing these hikes on to customers as higher interest rates, there are still some relatively low-rate options available. These could potentially help give some eligible borrowers a break from mortgage stress.