Tag: home loan news

  • Costly Habits Threaten Home Loan Approval: Gambling, BNPL Raise Red Flags

    In the realm of home loan applications, certain costly habits have emerged as significant red flags that could jeopardize one’s chances of securing a mortgage. A recent survey conducted by Money.com.au involving 1000 participants shed light on the financial behaviors that could potentially hinder individuals from obtaining home loans. Among the participants, a notable 15…

  • 40-Year Home Loans: Boost Budget, but Beware Hidden Costs

    In recent times, the real estate market has seen a new trend emerge with the introduction of 40-year home loans, offering home buyers the potential to expand their budget while reducing monthly mortgage payments. This extended loan term, exceeding the conventional 30-year mortgage, aims to address the challenges posed by high property prices that hinder…

  • AFG Home Loans Introduces Multiple Offset Feature for Customers

    AFG Home Loans has recently unveiled an innovative feature in response to increasing consumer demand. The Australian Finance Group’s lending division, AFG Home Loans, has enhanced its AFG Retro and Link home loan products by incorporating a multiple offset feature. This enhancement allows both new and existing customers to connect up to four separate sub-accounts…

  • Rising Rental Costs Prompt Shift Towards Home Ownership

    Amidst skyrocketing rental costs, the debate intensifies on whether purchasing a home is a more viable option. Recent data from Proptrack reveals a concerning trend where households with median incomes are finding it increasingly challenging to afford rental properties, marking the lowest affordability levels in nearly two decades. The surge in rental prices has far…

  • Government Eases Home Loan Rules for HECS Debtors

    The recent announcement by Treasurer Jim Chalmers, along with Housing Minister Clare O’Neil, Education Minister Jason Clare, and Assistant Treasurer Stephen Jones, has brought welcome news for Australians burdened with student loan debts. The government has initiated a significant shift in regulations concerning home loans, particularly focusing on Higher Education Loan Program (HELP) debts, including…

  • Rate Cuts Bring Relief: Home Loan News for March 2025

    In March 2025, Australian homeowners have received positive news in the form of rate cuts on home loans. Following the Reserve Bank of Australia’s decision to lower interest rates, several major lenders, including the Big Four banks, have announced reductions in rates. For those with variable-rate home loans, this means potential relief with decreased monthly…

  • Melbourne First-Home Buyers Balancing Mortgages and Wedding Savings

    In Melbourne, first-time homebuyers are striking a delicate balance between managing their mortgages and saving for their upcoming wedding. Tiana and Jesse, a young couple in Melbourne, recently took the plunge into homeownership by purchasing their first property and are now gearing up for their wedding next year. Their long-term goal includes acquiring multiple homes…

  • Record High Home Loan Borrowing Across Australia, Except Victoria

    Record High Home Loan Borrowing Across Australia, Except Victoria In a trend sweeping across Australia, home loan borrowing has surged to unprecedented levels, setting record averages in most regions, with one notable exception being Victoria. Recent data reveals a significant spike in the average new loan size for owner-occupiers nationwide, reaching a record high. The…

  • NAB Cuts Home Loan Rates by 0.25% in Response to RBA

    National Australia Bank (NAB) has recently announced a reduction in its standard variable home loan interest rate by 0.25%, scheduled to take effect from 28th February. This decision comes in response to the Reserve Bank of Australia’s (RBA) similar reduction in the cash rate by 0.25%. Ana Marinkovic, NAB Group Executive of Personal Bank, expressed…

  • Home Loan Rates Drop: Relief for Australian Homeowners

    Australian homeowners are experiencing a positive shift in their financial landscape as various lenders, including major banks, have recently announced reductions in home loan rates. This follows a decision by the Reserve Bank of Australia to lower interest rates, providing relief to many mortgage holders. For those with variable-rate loans, the rate cuts translate into…