According to Westpac’s most recent Home Ownership report, 48% of Australian homeowners don’t know what an offset account is. So what exactly is an offset account? An offset account is essentially a savings account that’s connected to your home loan. When you deposit money into your offset account, your home loan lender will deduct that
Did you know you could on average save $850 on your home loan just by calling up your bank and asking for a better interest rate deal? Last week the Australian Competition and Consumer Commission released a report which found that the bigger banks are offering better deals to new customers, leaving existing customers worse
Did you know that your everyday expenses could hold you back from getting your next home loan? Over the last 6 months, banks have been tightening their lending criteria and looking deeper into applicant’s finances than ever before. And you’re not exempt even if you’ve saved a decent deposit or are earning a high income.
by Hannah Tattersall, uno Home Loans There’s a lot of advice out there for mortgage holders trying to pay down their loans. Budget, budget, budget; make extra repayments; consolidate your debt into one loan. It’s all very well to heed the advice of others, but when it comes to making a game-changing difference to paying
Findings from the Banking Royal Commission and changes to the way your credit history is logged and reported could have an impact on your next home loan application. Before the commission, when banks were on the fence about giving you a loan, there was a much higher shot of you getting approved. Since the commission,
We all know that buying a new home comes with a hefty amount of bills but do you really know the extent to which you’ll need to save? If you’re a first home buyer lucky for you the Federal Government gives out incentives and grants like the First Home Owner Grant, however, this doesn’t mean
With the competitive market and endless lenders, you might want to look into getting a mortgage broker to help you with the workload. They negotiate on your behalf with banks, credit unions and credit providers to arrange the right home loan for your situation. They will assess your situation and come back with loan options,