Inflation is the rate at which the general level of prices for goods and services is increasing, leading to a decrease in the purchasing power of money. In other words, inflation is the decrease in the value of a currency over time, which causes prices to rise. The Reserve Bank of Australia (RBA) closely monitors inflation rates through the Consumer…
Settlement day is not just a day when you settle on a loan with your bank that you’ve worked hard on; it’s also a day where your dream of owning a property comes true. We have seen the excitement of our clients receiving the keys to their new home on settlement day. We have made it our business motto to…
What is an Offset Account?An Offset Account is an everyday savings bank account which is linked to your home loan. The money you deposit into your Offset Account can be used to reduce the interest you pay on your mortgage while giving you total access to Offset Account funds anytime. What is a Redraw Facility?A Redraw is a feature of…
Millions of Australian homeowners who have a variable rate home loan will experience an increase in their monthly mortgage repayments due to The Reserve Banks’ interest rate hike in recent months. While the cost of living continues to increase and income remains unchanged in most industries, a lot of homeowners feel uncertain about the future of their loan repayments. Here…
Having a good credit score is important if you want to get any sort of loan to purchase a property, a vehicle, or asset finance. A good credit score allows you to make use of a range of financial options, such as taking out a mortgage or loan, and owning your own credit card. Conversely, a poor credit rating can…
If you have a 30 year mortgage on your home but you want to pay it off quicker, there are ways that can help you be mortgage free faster-even small steps over time can make a big impact. There are two parts to each mortgage repayment of the principal and the interest. The principal is the remaining balance of what…
4 Ways To Improve Your Chances Of Getting A Personal Loan Whether you’re planning on buying a car, go on a holiday, or making renovate your home. Whatever your goal, getting a personal loan could be the key to it all. Here is a list of things you can do to improve your changes of getting approved for personal loan:…
Variable Rate Loans: A Variable rate loan is a loan with interest rate subject to change and the repayments/interest rate fluctuates when the lender decides to increase or decrease their interest rate. Pros: Benefit from interest rate drop, Redraw facility, Offset account, able to change loan at any time. Cons: Interest rate could go up at any time resulting in…
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