Borrowers often wrongly believe holding a savings account with a bank will result in an automatic interest rate discount when they take out a home loan, a survey by leading mortgage broker Loan Market has found.
A survey of 152 of the company’s brokers nationwide found misplaced confidence in getting a discount was one of the main misconceptions borrowers had about banks, along with confusion over pre-approvals for home finance.
Loan Market Chief Operating Officer Dean Rushton said more than one in three brokers who responded to the survey listed “borrowers who thought they had a ...
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Categories: Finance News. Tags: Home Loan Pre-approval, Home Loans, Loan Market.
The median house price on the Fraser Coast increased 3.4 per cent to $300,000 over the September quarter, according to the Real Estate Institute of Queensland.
Spokesman Alan Wetton said that despite the bumpy period at the start of the year, the market was improving.
“First home buyers underpinned activity in the September quarter but they have petered out now,” Mr Wetton said.
“Since the Fraser Coast is really a summer paradise, the summer and autumn periods are traditionally the best periods for our property market.”
Hervey Bay mortgage broker Jason Hellyer said he had noticed a marked increase in the number ...
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Categories: Finance News. Tags: Fraser Coast, Hervey Bay, How Much Can I Borrow, Jason Hellyer.
Land bargains still available.
People looking to purchase land to build a home should try to North-West Tasmania and Hobart's rural surrounds for land at a bargain price.
The Mersey-Lyell Region and Southern Tasmania have made it on to a list of the five cheapest regional markets in Australia in which to buy residential land.
The Victorian region of Mallee is Australia's cheapest residential land market, with a median lot price of $70,000.
The second cheapest was North-West Tasmania with a median price of $72,500, followed by two regions in South Australia and then Southern Tasmania at mean price of $82,000.
The average residential building ...
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Categories: Finance News. Tags: Mortgage Brokers, Property, Tasmania.
The key to securing the right finance is understanding your serviceability or your repayment commitments. If you hang your hat on your borrowing capacity without confirming if you can meet the required repayments, you may well miss out on that house.
Your home loan repayments, are also a powerful tool in creating a mortgage management structure that will help you pay off your home loan faster. Making extra repayments right from the start and making ad-hoc additional payments such as bonuses and tax returns work to save you money on interest payments and go a long way towards making ...
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Categories: Finance News. Tags: Borrowing Capacity, Home Loan Repayments, Home Loan Repayments Calculator, Mortgage Management, Mortgage Repayments.
