Author: MAXISLoans
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The Role of Loan Portability: Can You Take Your Mortgage with You?
When it comes to purchasing a home, getting a mortgage is often a necessary step for many individuals. However, life is full of uncertainties and unexpected changes, which may lead you to consider moving to a new home before you have fully paid off your current mortgage. In such situations, the concept of loan portability…
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ANZ and Macquarie Slash Fixed Home Loan Rates Ahead of RBA Decision
ANZ and Macquarie, two prominent Australian financial institutions, have recently made significant adjustments to their fixed home loan rates, signaling a proactive stance ahead of the upcoming Reserve Bank of Australia (RBA) cash rate announcement. This strategic move by ANZ involves a reduction of 0.25 percentage points for one-year fixed rates for owner-occupiers and a…
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How to Avoid Lenders Mortgage Insurance (LMI) and Save Big
Lenders Mortgage Insurance (LMI) can be a significant cost when purchasing a home with a deposit of less than 20% of the property’s value. This insurance protects the lender in case the borrower defaults on their loan, but it does not benefit the borrower in any way. Fortunately, there are ways to avoid paying LMI…
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ANZ Loan Rates
When it comes to securing a loan, one of the most crucial factors to consider is the interest rate. In Australia and New Zealand, ANZ is a prominent financial institution that offers a range of loan products to its customers. Understanding ANZ loan rates is essential for anyone looking to borrow money for various purposes,…
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Does Making Fortnightly Mortgage Payments Save You Money?
When it comes to managing your mortgage, one strategy that often gets discussed is making fortnightly payments instead of the traditional monthly payments. The idea behind this approach is that by making payments every two weeks, you can potentially save money on interest and pay off your mortgage faster. But does this strategy really work,…
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Government Raises Income and Property Caps for Help to Buy Scheme
In an effort to facilitate more first-time homebuyers’ entry into the market, the government has announced an increase in income and property limits for the forthcoming shared equity Help to Buy scheme. This move precedes the upcoming federal budget announcement by the Albanese Government, which aims to support more individuals in purchasing their first homes.…
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Mortgage Arrears Drop as National Home Prices Set to Rise
Despite the ongoing cost of living crisis, Australian mortgage arrears have shown a decline, as new forecasts suggest a potential 4-6% increase in national home prices over the next year. The latest data from the Fitch Ratings’ Dinkum RMBS Index for the last quarter reveals a 7 basis points drop in 30-plus day arrears to…
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How to Use Extra Repayments to Save Thousands on Your Mortgage
When it comes to paying off your mortgage, making extra repayments can make a significant difference in the long run. By utilizing extra repayments strategically, you can save thousands of dollars in interest payments and pay off your mortgage sooner. In this article, we will explore how you can use extra repayments to your advantage…
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Bank of England Holds Interest Rates: How They Impact Mortgages
The Bank of England opted to maintain its interest rates at 4.5% during its March meeting due to heightened global economic uncertainties. This decision marked a significant low in rates, following a series of cuts from 4.75% in February, making it the third reduction since August 2024. Interest rates play a crucial role in influencing…