Category: Home Loan News
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How Lowering Australia’s Home Loan Buffer Impacts Borrowing Power
Recent research suggests that lowering the mortgage serviceability buffer could significantly impact Australian homebuyers. Specifically, reducing the buffer from 3% to 2.5% could potentially allow buyers to borrow 5% more, translating to an additional $18,816.65 in borrowing power for the average wage earner. The Finance Brokers Association of Australia (FBAA) commissioned this study, revealing that…
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High-Risk Suburbs in Australia Pose Challenges for Landlords: Allianz Data
Investing in property comes with risks, and certain suburbs in Australia have been identified as high-risk areas for landlords due to tenant damage and rent loss claims. Exclusive insurance data from Allianz has pinpointed capital city suburbs with the highest number of landlord insurance claims, shedding light on the challenges faced by property owners. Rental…
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First-Home Buyer Loans Surge, Expected to Rise Further in 2025
First-home buyer loans are on the rise, with a significant surge expected in 2025. According to a recent report by Money.com.au, first-home buyer loans reached 125,220 in 2024, growing at a rate of 5.9% annually, nearly matching the broader owner-occupier loan market’s growth rate of 6%. Mansour Soltani, Money.com.au’s property expert, attributes this growth to…
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Coalition Proposes Easing Home Lending Rules to Aid First-Time Buyers
The Coalition has made a promise to ease home lending rules in a move that it believes will facilitate more young individuals to purchase their first homes. The current requirement for banks to incorporate a safety buffer when assessing home loan applicants’ ability to meet repayments is seen as overly restrictive, especially with the buffer…
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Macquarie Bank Leads Rate Cuts Amid Predictions of Further Reductions
Macquarie Bank has made a strategic move by cutting its fixed interest rates just ahead of the Reserve Bank of Australia’s upcoming meeting. This adjustment positions Macquarie as the lender offering the lowest fixed rates in the market, a significant development in the competitive landscape of home loans. Home Loan Interest Rates in Germany: A…
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Melbourne First-Home Buyer Navigates Housing Affordability Challenges
Sharna Hackett, a prospective first-home buyer in Melbourne, is eyeing her dream of owning a property in the bustling city. Having recently returned to Melbourne after securing a coveted job in the visual effects industry, she is now on the hunt for a two-bedroom apartment near her workplace. Years of diligent saving have brought her…
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Westpac Joins Australian Banks in Lowering Rates Amid RBA Expectations
Westpac has joined the ranks of Australian banks lowering interest rates in response to expectations of upcoming Reserve Bank of Australia (RBA) cuts. The move reflects a broader trend in the market as anticipation grows for potential easing measures. Home Loan Interest Rates in Germany: A Comprehensive Guide: Understanding the Factors that Impact Interest Rates…
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Home Loan Interest Rates Fluctuate as Lenders Adjust Rates for Borrowers
In a week marked by shifts in home loan interest rates, various financial institutions have made adjustments, reflecting a mixed yet generally positive outlook for borrowers, as reported by Canstar. Home Loan Interest Rates in Germany: A Comprehensive Guide: Understanding the Factors that Impact Interest Rates and How t… | $0.00 Last week, The Mutual…
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Major Banks, Including Westpac, Slash Home Loan Rates Amidst Rate-Cutting Trend
Westpac has recently made headlines by slashing its advertised home loan rates by over 1%, positioning its rates among the lowest offered by major banks. The bank’s move to cut rates on its packaged variable home loans for both owner-occupiers and investors has garnered attention in the competitive mortgage market. Home Loan Interest Rates in…
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ANZ Bank Error Wipes Out Woman’s Mortgage, Sparks Eight-Year Legal Battle
An Australian woman, Maria*, found herself in a nightmarish ordeal after an error by ANZ bank wiped out her entire mortgage. In 2017, Maria requested the release of a second mortgage on her Brisbane property, but ANZ mistakenly released both mortgages. It took Maria over a year to discover the error when she tried to…