04/17/2018 What would happen if you couldn't work? What would happen if you couldn’t work? If you were paid the average annual wage of $82,804 (1), you could potentially earn $10,000,000 over a 40-year working life (2). You would use this money for daily living, for holidays, to accumulate assets like a house and car and to save for your retirement. Being injured or taken ill, for only a short period, could severely affect or even cancel some of these plans. What would you do? Your income may be replaced from a number of sources: If it is a
What would happen if you couldn’t work? If you were paid the average annual wage of $82,804 (1), you could potentially earn $10,000,000 over a 40-year working life (2). You would use this money for daily living, for holidays, to accumulate assets like a house and car and to save for your retirement. Being injured or taken ill, for only a short period, could severely affect or even cancel some of these plans. What would you do? Your income may be replaced from a number of sources: If it is a
03/22/2018 Top Tips For Refinancing Your Home Loan If you feel like your lender is no longer looking after you and you’re paying far more than you must on your mortgage, then it’s time to look at your options. Today’s mortgage market is extremely competitive. So, while big banks offer you security, they often lack in service. Plus, they cannot give you the most competitive rate. To save, sometimes it pays to look at smaller lenders who could shave a percent or even two off your interest rate. Let’s look at five top tips when refinancing your
If you feel like your lender is no longer looking after you and you’re paying far more than you must on your mortgage, then it’s time to look at your options. Today’s mortgage market is extremely competitive. So, while big banks offer you security, they often lack in service. Plus, they cannot give you the most competitive rate. To save, sometimes it pays to look at smaller lenders who could shave a percent or even two off your interest rate. Let’s look at five top tips when refinancing your
12/10/2017 Buying an Apartment Apartments are becoming a lifestyle choice over an entry point into the housing market. In fact, many Australians are forgoing the big backyard in favour of compact living. Why? Well, apartments are more affordable than houses, closer to the city, and typically more luxurious. Plus, they minimise daily chores and maximise leisure time. Is Apartment Living on the Rise? According to Census data released by the Australian Bureau of Statistics (ABS) there is now one apartment occupied for every
Apartments are becoming a lifestyle choice over an entry point into the housing market. In fact, many Australians are forgoing the big backyard in favour of compact living. Why? Well, apartments are more affordable than houses, closer to the city, and typically more luxurious. Plus, they minimise daily chores and maximise leisure time. Is Apartment Living on the Rise? According to Census data released by the Australian Bureau of Statistics (ABS) there is now one apartment occupied for every
11/15/2017 Why Do I Need a Second Mortgage? Why Do I Need a Second Mortgage? There are many reasons why someone takes out a second mortgage. The most common are: Fixed rates – If your first mortgage is fixed and you need funds, then sometimes it’s cheaper to acquire a second mortgage. Why? Well, the fixed rate may attract a break fee if you decide to refinance your first mortgage. Therefore, by leaving this mortgage alone and taking out a second mortgage, you avoid incurring any break fees. Guarantor support – If you’re looking to
Why Do I Need a Second Mortgage? There are many reasons why someone takes out a second mortgage. The most common are: Fixed rates – If your first mortgage is fixed and you need funds, then sometimes it’s cheaper to acquire a second mortgage. Why? Well, the fixed rate may attract a break fee if you decide to refinance your first mortgage. Therefore, by leaving this mortgage alone and taking out a second mortgage, you avoid incurring any break fees. Guarantor support – If you’re looking to
11/15/2017 How to Make Sure You Don’t Borrow More Than You Should When it comes to securing a home loan, a lender looks at facts to determine what you can afford. But, you are the only person who truly knows what you can manage financially. Therefore, it is vital you crunch the numbers yourself, before applying for a home loan. This way you’ll avoid getting yourself into a sticky financial situation. How Lenders Assess Loan Eligibility Most lenders want to see records of income, assets, and debts. Thus, they’ll require proof of income and want to know what
When it comes to securing a home loan, a lender looks at facts to determine what you can afford. But, you are the only person who truly knows what you can manage financially. Therefore, it is vital you crunch the numbers yourself, before applying for a home loan. This way you’ll avoid getting yourself into a sticky financial situation. How Lenders Assess Loan Eligibility Most lenders want to see records of income, assets, and debts. Thus, they’ll require proof of income and want to know what
11/13/2017 Soft Inflation Puts Distance Between Rate Rise With Australians having minimal wage growth and a record debt-to-income ratio, many are aiming to pay more off their mortgages before rates rise. Consequently, consumer spending and inflation levels fell below targets, which has resulted in the Reserve leaving rates on hold yet again. Wage Growth and Debt Levels Australian wage growth averaged 3.38% from 1998 to 2016. In 2008, it reached an all-time high of 4.30% and a record low of just 1.90% in the 2016 third quarter. This figure remained
With Australians having minimal wage growth and a record debt-to-income ratio, many are aiming to pay more off their mortgages before rates rise. Consequently, consumer spending and inflation levels fell below targets, which has resulted in the Reserve leaving rates on hold yet again. Wage Growth and Debt Levels Australian wage growth averaged 3.38% from 1998 to 2016. In 2008, it reached an all-time high of 4.30% and a record low of just 1.90% in the 2016 third quarter. This figure remained
