Some of the best investor mortgages at the end of October 2020

Despite disruptions to Australia’s economy in recent months, and the potential for further uncertainty in the immediate future, some property investors may instead be thinking about the longer term. With property often showing its value as an asset over a longer period than other investments, it’s important to consider whether your investment mortgage not only suits your needs now, but is likely to continue to do so in the future.

How low can a home loan go?

With some economists forecasting that the RBA could further cut the national cash rate at its October or November meeting, possibly into negative rates for the first time in history, what could this mean for paying off your house?

When will term deposit rates go up?

On top of everything else that’s happened in 2020, interest rates on term deposits and savings accounts have been stagnating or declining to record lows over the year. It’s not yet clear when exactly these rates for savers are expected to start rising again.

What you should know about home loan criteria for self-employed borrowers

Your friends and family may have given you a lot of info about applying for home loans, but does it all still apply to you if you’re self-employed? Special home loan criteria may apply for self-employed borrowers, so it’s important to be prepared to help ensure you get a home loan that will suit your needs.

Some of the best owner occupier home loans in September 2020

Even if your home-buying plans have changed, falling prices could make it easier for some first home buyers to take the next step towards becoming home owners. Current owner occupiers may also be able to take advantage of interest rates being recently slashed to new record lows to refinance their home loans.

Does HECS/HELP debt affect home loans?

If you have a university education in Australia, you’ll likely also have a HECS/HELP debt. It’s still possible to get your first home loan with a higher education debt owing, though like other outstanding loans, it could potentially affect your mortgage application.

Can you include renovation costs in a mortgage?

Traditional real estate advice says to buy the worst house in the best street – you can pay less today and renovate tomorrow. But renovating still costs money, so you may want to look into the options for using your home loan to help take care of your budget.

What is a reverse mortgage, and what are the risks?

A reverse mortgage is a financial product that allows retirees to unlock the value of their family home. Sometimes called an equity release loan, a reverse mortgage lets you access a lump sum, line of credit or income stream to support your lifestyle in retirement. But just like any other financial product, there are risks involved with reverse mortgages, which you should be aware of before you apply.

Some of the best home loans in September 2020

September is the traditional start of the Spring Selling Season in Australia’s real estate markets. While 2020 remains a challenging year, with economic recession affecting both property buyers and sellers, banks and other mortgage lenders are continuing to slash home loan interest rates to new lows.

6 options for borrowers whose mortgage holidays are coming to an end

Back in March 2020, Australia’s big banks and other mortgage lenders offered to let mortgage holders defer their home loan repayments and relieve some of the financial pressure from the pandemic. With the initial six-month time limit now coming to an end, many Aussie mortgage holders are now facing a choice of what to do next.