eastcoastfinancegroup

How to turn your new-build dreams into reality

Thu, 30 Apr 2026 01:15:44 GMT

Ever wanted to build your own home?

There’s no better feeling than living in a brand new home – it’s fresh, clean and it’s all yours. But financing a new-build works very differently from buying an established home. Here’s what you need to know.

There’s a lot to love about home ownership, and it’s especially exciting when you’re building a place of your own from scratch.

You have the freedom to select your preferred design, personalise the finishes, and then watch as your new home steadily comes to life from the ground up.

And it turns out, more home buyers are choosing a newly built home.

The House Industry Association says that despite higher interest rates, home building activity picked up in the March 2026 quarter .

Amid the excitement of picking colours, carpets and appliances, however, it’s worth knowing how to fund the construction of your new home.

Financing a building project works very differently from buying an established home.

Here’s what’s involved.

Construction loans – tailor-made for building projects

When you borrow to buy an established home, your mortgage lender provides a lump sum to cover the purchase price of the property.

However, when you choose to build a new home, your lender is likely to suggest a ‘construction’ loan – a type of loan purpose-built for building projects.

Rather than receiving the full value of the loan in a single payment, a construction loan works by drip-feeding the funds to you (in reality, your builder) as various stages of construction are completed.

There are typically several payment stages – from laying the slab to final sign-off on completion, and they can differ slightly between lenders.

The cash flow benefits of a construction loan

The common thread of construction loans is that you normally only pay interest on the funds drawn down.

This can help to minimise the cost of the loan – and loan payments – while construction is underway.

This can also be a plus for your cash flow, especially if you’re renting or still paying off your current home whilst the new place is being built.

The other upside of a construction loan can be that your lender will usually check the work completed before signing off on each phase of completion. This may give you extra reassurance that the workmanship is up to scratch.

Then, when construction is fully completed, and your new home is ready to move into, your construction loan will typically become a standard mortgage, and you start making principal plus interest payments on a regular basis.

Is a new build right for you?

Along with the pleasure of living in a brand new home, there can be a cost saving to a newly built place.

Analysis by Compare the Market found it’s normal for the cost to buy to be more expensive than building.

Other costs such as stamp duty can also increase the cost of an established home.

Bear in mind though, building takes time, and construction doesn’t always go to schedule. It’s not a bad idea to budget for a few unexpected costs such as possible delays due to weather.

Talk to us about funding your new home

If you’re ready to build, we’re ready to help you find a construction loan that matches your needs.

Talk to us to get the ball rolling on a brand new home.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Could your home loan pre-approval be out of date?

Thu, 23 Apr 2026 00:06:49 GMT

Has your borrowing capacity changed?

Having loan pre-approval can be a smart move for home buyers. But the recent Reserve Bank cash rate hikes could leave your pre-approval in need of an update.

There’s a lot to love about home loan pre-approval.

It shows how much a bank will let you borrow for a home – that’s your ‘borrowing power’.

Pre-approval also indicates you’re a serious buyer, providing extra bargaining clout in price negotiations.

And while pre-approval typically only lasts for three to six months, that can be sufficient time for many buyers to find their ideal home.

But there’s a catch.

Pre-approval is not a guarantee. Rather, it is a guide of what you can borrow based on circumstances at the time pre-approval was issued.

And the two rate cash rate hikes the Reserve Bank of Australia has implemented this year may have chipped away at your borrowing power.

That can make it worth reviewing your mortgage pre-approval.

Here’s what to weigh up.

Your borrowing power may have altered

Your borrowing power, also known as ‘borrowing capacity’, is a key factor when it comes to buying a home.

It’s the amount a bank is willing to lend for a home loan, and it’s based chiefly on your income and living expenses.

However, interest rates also play a role.

A rise in interest rates will mean higher repayments , and this has the potential to reduce your borrowing power.

As an example, Canstar says a solo home buyer on the average full-time wage ($106,950) will be able to borrow around $12,000 less as a result of the March 2026 rate rise .

Add in the 0.25% February rate hike, and that same home buyer could be looking at a $25,000 cut to their borrowing power.

A couple on the average wage may have seen their combined borrowing power drop by $49,000 since February.

That’s why it’s so important to call us to understand your true borrowing power as it currently stands.

Yes, there are online calculators available. But these may not consider every aspect of your personal situation.

The risk of outdated pre-approval

Taking a ‘she’ll be right’ approach to your loan pre-approval could work against you.

You may find, for example, that after negotiating a great price on a place you’re keen to buy, you struggle to get the home loan you need.

Worst case scenario: you risk being the winning bidder at auction but failing to get finance to complete the purchase – a situation that could mean losing your deposit.

Here too, a call to us can confirm if you are good to go for a home loan before you start putting money on the table for a property purchase.

How to boost your borrowing power

The good news is that there are steps you can take to potentially boost your borrowing power – no matter what interest rates are doing.

Here are a few ideas to get started.

Review household expenses – even a small change in non-essential spending can make a difference.

Lower the limit on your credit card – lenders often base your borrowing power on the assumption your credit card is maxed out. Think about asking your card issuer to trim your credit limit. Or close it altogether.

Clear other debts – a lingering car loan, the remains of student debt, and even an ongoing buy now, pay later balance can impact your borrowing power. Knuckling down to clear the slate could see you rewarded with increased borrowing capacity.

Know that rate matters – the rate you pay isn’t the sole decider of whether a loan is a good match for your needs. But the lower the rate, the more you may be able to borrow.

Talk to us for up-to-date loan pre-approval

Successful home buying doesn’t have to mean borrowing as much as you can.

However, it makes sense to start the ball rolling with a clear idea of your current borrowing power.

Talk to us to know if your loan pre-approval is out of date, or to organise new pre-approval on a loan that’s well-matched to your needs.

Why buyers are defying rate hikes and rising fuel prices

Wed, 15 Apr 2026 23:18:18 GMT

Are you keen to buy soon?

Rate hikes and soaring fuel prices aren’t dampening home buyer enthusiasm, with a strong majority of Aussies still believing the time to buy is now. We look at why home-buying sentiment remains so high.

Petrol prices have been stealing the headlines lately. But behind the scenes, Aussie homes have been notching up fresh gains.

Over the past year, home values rose 9.9% nationally – the fastest 12-month growth since June 2022.

And despite the current fuel crisis and two rate hikes in 2026 , plenty of buyers are expecting values to climb higher.

A recent Westpac-Melbourne Institute survey found “a clear majority of consumers still expect (home) prices to rise ” over the next year. Only around one in ten think values will fall.

These expectations of price growth could be behind Westpac’s finding that 83% of Australians think now is the time to buy.

The right time to buy a home

Buying a home is something most of us only do a few times in our life. It’s a very personal decision and a big commitment, so the ‘right’ time for you to buy is when you feel ready.

That’s why we encourage you to speak with us, so you can feel confident you are financially ready to become a home owner.

However, if you are holding out in the hope that prices will fall, you could be left disappointed, and potentially end up paying more in the future.

Home values nationally forecast to climb 2.8% this year

Yes, higher interest rates are likely to impact the property market.

ANZ, for example, expects price growth to slow .

But slower growth does not mean a price slump.

ANZ’s forecasts suggest capital city home prices will rise 2.8% in 2026, followed by 2.1% growth in 2027.

But big differences are anticipated across each capital – from dramatic price growth to modest softening, depending on location.

As a guide, prices are expected to rise a whopping 12.3% in Perth this year, 9.7% in Brisbane, and 8.0% in Darwin.

Values are also expected to track higher in Adelaide (up 5.75%), Hobart (3.7%) and Canberra (1.6%).

Sydney and Melbourne may see prices soften by -0.7% and -1.7%, respectively, this year.

But that’s far from a significant drop, and both cities are forecast to see prices rise by at least 2.6% in 2027.

What’s driving values higher?

The reason property prices could defy higher interest rates is simple: demand outweighs supply.

The number of homes listed for sale is super-tight right now.

New listings across most state capitals are lower than a year ago.

And while more new homes are being built , construction levels simply aren’t keeping pace with population growth , NAB says.

Buyers are seizing opportunities

A shortage of homes for sale isn’t deterring buyers.

Cotality estimates close to 560,000 homes have been sold so far in 2026 . That’s almost 6% higher than the 5-year average.

Moreover, NAB reports that home loan lending “rose sharply” in the second half of 2025, with home buyers, rather than investors, being the driving force in the mortgage market in the final quarter of the year.

It goes to show that rate hikes and uncertainty in the Middle East are no match for home buyer enthusiasm.

According to realestate.com.au, some first home buyers and upgraders see slower price growth as a window of opportunity , with auction demand still “hot” in parts of the market that are popular with first home buyers.

Call us to know if it’s your time to buy

No one knows for sure how home prices will move in the future.

But it’s fair to say plenty of home buyers look back on the price they originally paid for their home, and breathe a sigh of relief that they purchased when they did.

That’s because over the long term, home prices generally rise, rather than fall .

Talk to us about a home loan that matches your needs if you believe now is your time to buy.

One-in-five investors snatch up interstate properties

Wed, 08 Apr 2026 23:01:10 GMT

Would you buy interstate?

Is the grass really greener on the other side? Maybe. Australia has seen a surge of investor activity in recent years, with investment loans reaching record highs. But as home prices rise, plenty of investors are looking beyond their own backyard and making interstate purchases.

Australian homes have delivered plenty of pluses for investors in recent years .

Vacancy rates are low and rents are rising across much of the country. Strong price growth has seen more than 93% of recent investor sales make a profit – the highest rate in a decade.

Not surprisingly, that’s seen a rush of investors keen to buy a rental place, which has pushed new investment loans to record highs .

But there’s a twist.

As many as one-in-five investors nationally are casting their gaze beyond their local neighbourhood and buying interstate, according to PropTrack’s latest Investor Report.

In some parts of the country – including the ACT, Tasmania and the top end – 40% or more of investors are buying interstate.

Is it a good idea? Here’s what to weigh up.

The ‘freedom’ of buying as an investor

When it comes to deciding where, and which type of property they’d like to buy, investors can enjoy plenty of freedom.

An investment property doesn’t need to be close to your work, family or friends. So in many ways, you’re free to buy where you choose.

And investing interstate can bring the advantage of diversity. You’re not exposed to the fortunes of just one property market.

Of course, it always makes sense to invest in an area with capital growth potential, healthy rents and plenty of tenant demand. But your local market may tick each of these boxes.

There is another factor that may see investors head interstate – and that’s affordability.

Investing interstate may be more affordable

Home values differ widely across Australia, and this can be a key driver behind the decision to invest interstate.

An investor who lives in Sydney, for example, where the median home price is over $1.295 million , may not be able to afford a locally-based rental property.

But their budget may extend to a more affordable market such as Hobart ($737,742), Melbourne ($828,249) or Adelaide ($937,021). Or the same investor may decide to buy in a regional area (national median $758,788).

The point is that buying interstate can simply be more affordable – and potentially healthy returns.

What to be aware of when investing interstate

Investing interstate can be a straightforward process though there are potential pitfalls to be aware of.

First, you may not have the same home-town knowledge of the area you’re buying in.

That makes plenty of research essential.

In addition, checking out homes listed for sale won’t be as easy as jumping in the car and popping out for a quick inspection.

The solution to both challenges can be using a buyer’s agent. This is a licensed professional , who can share their local market knowledge, track down properties that suit your goals and budget, and help with price negotiations.

A buyer’s agent will come at a cost though. You may be asked to pay a percentage of the property’s sale price or a flat fee . It’s an added upfront cost, though when you’re investing in an unfamiliar area, hiring a buyer’s agent could be money well spent.

Bear in mind, as an interstate investor, you’re likely going to need a property manager to handle the day-to-day renting of your property. This will also involve an additional cost, so be sure to do the sums to see how this could impact rent returns.

Applying for an investment loan for your interstate property

If you’re planning to invest interstate, the good news is that you aren’t restricted to lenders based in other states.

We can help you find an investment home loan that’s a great match for your needs no matter where the property is located.

It’s a good idea to talk to us at an early stage.

The process of applying for an investment loan works in much the same way as an owner-occupied loan. However, some lenders take potential rental income into account when deciding how much you can borrow. Others don’t.

The difference may seem minor but it can shape your buying budget.

Talk to us about your interstate investment

Call us about your plans to buy an interstate rental property.

We can explain your loan options, compare lenders, and explore different loan structures that can help you achieve your goals.

5% Deposit Scheme helps more than 300,000 Aussies buy a first home

Wed, 01 Apr 2026 22:31:45 GMT

Want to get on board?

Buying a first home doesn’t have to mean years of eating beans on toast while you scrape together a 20% deposit. Here’s how you could break into the property market with just a 5% deposit.

The Australian government’s 5% Deposit Scheme has been around since 2020, and in that time it’s been a game-changer for more than 300,000 first home buyers .

That’s because the scheme offers a chance to buy a first home with a 5% deposit – or as little as 2% for single parents.

The scheme has also helped fund the construction of close to 30,000 new homes.

So, it’s no surprise that more than one-in-three first home buyers relied on the scheme to buy a place of their own in 2024-25.

If you’re unsure whether the 5% Deposit Scheme is the right pathway to home ownership for you, read on as we take a closer look at what’s involved.

How the 5% Deposit Scheme works

The scheme overcomes a key challenge for first home buyers – saving a 20% deposit at a time when property values in many areas are continuing to rise .

While plenty of lenders offer low deposit home loans, if you have a deposit below 20% you’ll typically be asked to pay lenders mortgage insurance (LMI) which can cost thousands of dollars.

That’s part of the beauty of the 5% Deposit Scheme – the federal government guarantees your home loan , meaning there’s no need to pay LMI.

There are also no waitlists, no income limits and no place limits .

You’re free to buy an established home or build a new place – as long the property falls within the price limits that apply in your area .

Long story short, if you meet eligibility criteria , and can chip in a minimum 5% deposit (or 2% if you’re a solo parent), the scheme could bring forward your savings timeline, and fast-track your journey to home ownership.

Mix and match with other first home buyer incentives

The 5% Deposit Scheme can be combined with other types of first home buyer assistance, no matter whether they are offered through federal, state or territory governments.

These incentives include the First Home Owner Grant (FHOG), which provides a one-off grant in most states and territories to first home buyers who buy or build a new home.

Stamp duty waivers or concessions may also be available to you. And the First Home Super Saver Scheme could let you grow a deposit using your super.

The possible downsides

The 5% Deposit Scheme may be a great help. But it still makes sense to talk to us.

A smaller deposit often means taking out a bigger loan. It can also mean it takes time to build a reasonable level of home equity, and this can make it harder to refinance to a different mortgage further down the track.

That’s why your choice of home loan is so important.

Call us to be sure you’re comfortable with the numbers, and for help finding a home loan that matches your needs.

Good news for buyers – surge in homes hitting the market

Thu, 26 Mar 2026 00:05:56 GMT

Farewell slim pickings?

If you’re in the market for a home, you may have noticed there hasn’t always been a whole lot of choice in recent months. Fortunately, it looks like property listings are really starting to pick back up. Here’s how to make the most of the increase in choice.

Sure, price is the obvious big barrier when it comes buying your first home.

But that’s often got a whole lot to do with a lack of supply (less supply than demand typically = higher prices).

And in fact, Westpac says supply shortages have been one of the most significant hurdles for Aussies trying to enter the property market, with one in four (26%) first home buyers saying a lack of listed properties was holding them back.

But the tide may be starting to turn.

According to SQM Research, new listings “surged” 48.6% nationally in February, marking the strongest monthly rise since spring 2025.

And new listings continued to climb in the four weeks to mid-March.

Let’s take a look at why a rise in homes listed for sale is a plus for home buyers, and how it could impact your buying plans.

Where listings growth is strongest

According to Cotality, March has seen new listings climb by 10% or more (year-on-year) in Melbourne, Brisbane, Hobart and Canberra.

Sydney (up 4.1%) and Adelaide (4.8%) have seen more modest growth in new listings, though the overall trend is upwards.

Only Perth and Darwin are bucking the trend, with new listings down 12.8% and 12.3% respectively compared to a year ago.

How does an increase in listings benefit home buyers?

Across our capital cities, the four weeks to mid-March saw a For Sale sign pop up in front of an extra 27,772 homes .

An increase in new listings offers several upsides for home buyers.

More homes on the market means more choice, so you may not have to compromise on your wish list of home features.

In addition, increased supply has the potential to keep a lid on price growth.

However, that doesn’t necessarily mean values will fall.

Listings are still 9.1% lower year-on-year . So we’re still not in a ‘balanced’ market where supply equals demand.

In fact, delaying your buying plans in the hope that home prices will soften could work against you.

SQM Research crunched the numbers and found that even if the Reserve Bank hiked interest rates by a further 0.25% by mid-year, capital city home values could still end the year 3.0% higher . Home values in several cities including Perth, Brisbane, Darwin and Adelaide could rise by at least 10%.

Long story short, it’s worth thinking about how you could benefit from increased supply right now, rather than postponing your buying plans.

What you can do as a home buyer

There are several ways you may be able to take advantage of an increase in property listings.

First and foremost, understand your borrowing power. This may have changed as a result of the March rate hike.

Talk to us to know how much you can comfortably borrow. It can drive your buying budget.

Next, keep an eye on local sales results and selling times. Values may not fall, but if homes start taking longer to sell, you could have more leverage to negotiate a discount.

Finally – and possibly most importantly – talk to us about having your home loan pre-approved.

Westpac research shows two-in-five home buyers point to rivalry with other buyers as a barrier to getting into the market.

Having pre-approval in place could give you a competitive edge over less organised buyers.

So get in touch about securing pre-approval for a loan that suits your needs – it’s about making the most of a market that could be starting to swing in your favour.

Double trouble! RBA lifts cash rate by another 25 basis points to 4.10%

Tue, 17 Mar 2026 04:39:23 GMT

Need to discuss your home loan?

More bad news for mortgage holders around the country: the Reserve Bank of Australia (RBA) today raised the cash rate for the second time this year to 4.10% in a 5-4 split decision vote. How might this impact your monthly mortgage repayments?

Hardly seems fair to hike the cash rate by another 0.25% with petrol prices so high right now (which one could argue will reduce discretionary spending) – but it wasn’t enough to sway the majority of the RBA board, unfortunately, which voted 5-4 to increase the cash rate.

Uncertainty surrounding stubborn inflation levels and global economic volatility due to the war in the Middle East had the RBA concerned enough to pull the trigger on a second consecutive rate rise in 2026.

The RBA’s Monetary Policy Board said in a statement that data since RBA’s February meeting suggests that some of the increase in inflation reflects greater capacity pressures.

“In addition, the conflict in the Middle East has resulted in sharply higher fuel prices, which, if sustained, will add to inflation,” the Board said.

“As a result, the Board judged that there is a material risk that inflation will remain above (the 2-3%) target for longer than previously anticipated.”

How could this affect your monthly mortgage repayments?

Unless you’re on a fixed-rate mortgage, your bank will likely soon follow the RBA’s lead and increase the interest rate on your variable home loan.

For an owner-occupier with a 25-year loan of $500,000 paying principal and interest, this month’s 25 basis point rate hike means your monthly repayments could increase by about $77 a month.

That equals about $924 a year. Or $1848, if you also include last month’s rate hike (yikes!).

If you have a $750,000 loan, your minimum monthly mortgage repayments will likely increase by about $115 a month. That’s $1380 per year, or $2760 if you include last month’s hike.

Meanwhile, a $1 million loan could increase by about $154 a month. That’s $1848 a year, and $3696 if you include the February hike.

This all assumes that your lender automatically passes on the full 25 basis point hike to your home loan.

Another thing to keep in mind is that when interest rates came down from the recent cycle peak of 4.35% throughout 2025, many banks around the country kept borrowers on the same monthly repayment amount – meaning they paid more off the principal of their home loan each month rather than the interest.

If this is the case for you, your monthly repayment amount (very likely) won’t increase with this latest rate hike – it’s just that more of your repayment (0.25%) will go towards the interest on your loan, rather than the principal.

To find out what your lender is doing with your loan, get in touch with us in a few days once the dust has settled and the banks have announced their next moves.

Need to discuss your home loan?

Ok, so the RBA has raised the cash rate again. It’s a tough one, sure, but there are still some steps you could potentially take to help offset this rate hike.

If it’s been a while since your last home loan review, now could be a good time to check in. You might be able to improve your situation – and we’re here to help you explore your options.

This could include renegotiating with your current lender, refinancing to another lender, or debt consolidation.

Every household is unique, and we’re committed to helping you find a solution that fits your needs.

Offset accounts surge as homeowners race to beat higher rates

Wed, 11 Mar 2026 22:55:27 GMT

Keen to put some spare funds to work?

Who wouldn’t want to save on home loan interest and pay off their mortgage faster? Homeowners are increasingly turning to offset accounts to do just that. So today we’ll look into whether an offset account could benefit you.

The recent RBA cash rate hike has led homeowners to embrace a variety of strategies to ease the rate pain, and it turns out one of the most popular options is a home loan offset account.

One of the big 4 banks, NAB, says it is seeing “ offset accounts surge ” as homeowners, especially younger borrowers, look for low‑effort ways to beat rising rates.

According to NAB, three-quarters of its home loan customers now use an offset account.

While homeowners aged 40 to 60 remain the biggest users of offset accounts, NAB says that among customers aged under 35, the number of offset accounts linked to new home loans has nearly doubled compared to last year.

Let’s dive in to understand the appeal of offsets, the potential savings to be made, and who home loan offset accounts may be suited to.

How an offset account can save on loan interest

A bit of background first.

An offset account is an everyday account linked to your home loan .

You don’t earn interest on money in the offset account. Instead, you save by paying less interest on your home loan.

That’s because the balance of the offset account is deducted from (or ‘offset’ against) the value of your home loan when loan interest is calculated.

For example, if you have a $500,000 mortgage balance and $20,000 in an offset account, you’ll only be charged interest on $480,000.

Your monthly home loan repayment amount will stay the same – it’s just that more of your monthly repayment will go towards paying off the principal, rather than towards interest.

When this pattern is repeated month after month, the savings can potentially start to stack up.

Over time the balance of your home loan may be paid off quicker, which further helps to lower the monthly interest charge.

In this way, an offset account has the potential to be a way to pay off your loan sooner.

How much could I save with an offset account?

The interest savings generated by an offset account will depend on the size of your home loan, the balance of the offset account, and your loan rate.

Here’s an example of the possible savings that we’ve put together using one bank’s offset calculator (most banks have them readily accessible online, just google ‘offset account calculator’).

Let’s say you have a $500,000 mortgage with a 30-year term and an interest rate of 5.99% (comparison rate of 6.37%), plus $20,000 always sitting in your linked offset account.

Over the life of the loan, the impact of the offset account could cut $90,571 off your total interest bill and see you mortgage-free 2.5 years ahead of schedule.

What matters is that you talk to us to know exactly how much you could save with an offset account.

Who is an offset account well-suited to?

There’s a lot to love about home loan offset accounts.

But they may not be the ideal option for every borrower.

The more you have in an offset account, the greater the savings on loan interest. So, you need to be able to resist the urge to dip into the account too often – especially as the funds are usually available at call.

One way around this is to look for a lender that offers multiple offset accounts linked to the same home loan. This way, you can use one offset account for everyday money, and the others to save for personal goals – all while saving on home loan interest.

The other aspect to consider is that offset home loans can come with higher rates and fees . If you have only limited cash savings, you may save more with a lower rate without features such as offset accounts.

Lastly, it’s always worth weighing up whether any money you allocate towards your offset account and paying off your home loan sooner could be better utilised by investing towards your future in other ways.

Refinancing – another way to save on interest

Offset accounts can be one interest savings hack. But you can’t simply add them to every home loan account – adding them can often mean refinancing.

Fortunately, you could potentially double up on cutting the amount of interest you’re paying by refinancing to a lower rate home loan at the same time.

If you’ve had your old loan for a while, it’s worth calling us to see if you could save by refinancing to a loan with a lower rate and/or features better-suited to your needs.

The main point is that you don’t have to just wear a higher interest rate.

Call us to find out if an offset account is a good fit for you – and other strategies that could potentially help you save on home loan interest.

How first home buyers can buy up to five years sooner

Wed, 04 Mar 2026 22:59:05 GMT

How long have you been trying to crack the market?

As home prices climb higher, first home buyers can feel like the goal posts are continually shifting further out of reach. But there is a way to potentially cut years off the time taken to buy a home.

Saving a first home deposit has never been easy – especially in the last decade or two.

And as property prices continue to head north, first home buyers can be left wondering if they’ll ever be able to save a 20% deposit.

But don’t give up on your dream of home ownership just yet.

We can help you explore opportunities that could get you into the market before prices potentially rise further.

A new report by Domain examines a potential solution that could bring your purchase forward by more than five years.

Home price growth is pushing out deposit timeframes

The past year has seen home values across the nation’s capitals rise by 9.9% , according to Cotality.

However, even this eye-watering increase doesn’t show the full picture.

According to Domain, in some places, the price of entry-level homes has climbed over 20% in the past 12 months – a rise it describes as “an extreme rate of price growth”.

Faced with this level of price rises, saving a deposit can be a real pain point for plenty of first home buyers.

Domain found the time taken to save a 20% deposit now ranges from 2 years and 7 months for an entry-priced unit in Darwin, to 7 years and 7 months for an entry-priced house in Sydney.

But here’s the catch.

While you’re working hard to grow a deposit, home prices are likely to keep rising.

Over the past five years, for example, Domain says the price of entry level homes has risen 68% .

Get started in the market up to 5 years earlier

The federal government’s 5% Deposit Scheme may be the solution that could help you bring forward your home buying plans.

The scheme lowers the minimum deposit needed to buy a home down to 5% , or even 2% for single parents – without the need to pay lenders mortgage insurance.

Eligible home buyers do face property price limits .

However, there are no caps on personal income, and no limit on the number of people who can apply for the 5% Deposit Scheme each year.

Domain crunched the numbers, finding that the 5% Deposit Scheme can help first home buyers looking to buy a house in Sydney get into the market 5 years and seven months earlier .

In Brisbane and Adelaide, the scheme can cut more than four years off the time taken to save a deposit.

In every other capital, the 5% Deposit Scheme can bring forward buying plans by more than three years.

Is there a downside?

Saving a deposit is just one of the home buying requirements.

Lenders also want to be sure you can comfortably manage repaying your loan.

A potential drawback of buying with a small deposit is that you’ll likely need to borrow more, and this may mean higher loan repayments.

That’s why we encourage you to speak with us at an early stage for a clear idea of the likely repayments to budget for.

Talk to us

Not surprisingly, the 5% Deposit Scheme is proving very popular, having already helped more than 240,000 Australians into home ownership .

How much do you need to earn to buy a home in 2026?

Wed, 25 Feb 2026 23:25:59 GMT

Time to ask the boss for a payrise?

Sure, saving a deposit is important, but your income can hold the real key to getting into the market. That’s because it shapes your borrowing power.

It stands to reason that lenders will look closely at your personal income when you apply for a home loan.

It’s not just about you being able to comfortably handle loan repayments. Lenders also have a legal responsibility to be sure you’re not taking on too much debt .

The challenge for home buyers is that it can be unclear what sort of income you need to qualify for a home loan.

The reality is that there’s no one-size-fits-all number.

How much you need to earn to buy a home can hinge on where you plan to buy – and whether you plan to buy solo, or team up with a co-buyer.

Average income is over $100,000 – is it enough?

Across Australia, average weekly earnings for full-time employees are around $2,130. That adds up to an annual income of about $110,791.

These figures are based on May 2025 data, so chances are, the average is a little higher in early 2026.

Even so, the average full-time income may not always be enough for some home buyers to get into the market – especially if they choose to buy solo.

Income requirements vary between cities

Domain looked at how much buyers around Australia likely need to earn to get into the market, assuming a 20% deposit.

It found that a solo buyer in Sydney, the nation’s most expensive property market , may need to earn about $232,000 annually to buy a home. A couple buying in Sydney should each earn $121,000.

Melbourne buyers fare slightly better. A single person needs around $145,000 annually, while a couple each needs about $85,000.

In Brisbane, a single buyer should aim for $166,000, dropping to $94,000 for each person in a couple.

A solo buyer in Adelaide should earn about $143,000, or an income of $84,000 when coupled.

In Perth, where home prices have jumped 97% in the past five years , a single buyer should have an income of $147,000 to buy a home, falling to $86,000 for each person in a couple.

Buying solo in Hobart usually requires an annual income of around $118,000. For a couple, the income required is about $72,000 per person.

Darwin has the nation’s most affordable property . Reflecting this, a single buyer could potentially buy a home with an income of $111,000, or around $68,000 per person as a couple.

Finally, in the nation’s capital, solo buyers would need to earn about $151,000 to buy a place in Canberra, or $88,000 for each of a couple.

The solution could be flexibility – or government schemes

It’s important to point out that Domain’s analysis is based on buyers opting to buy a house, rather than an apartment.

This matters because houses typically cost more than apartments.

Bear in mind too, the income needs noted above assume a buyer pays the city’s median house price. You may be able to find a more affordable home, depending on where you’re looking to buy.

This highlights the value of being flexible about what and where you buy, especially if you’re a first home buyer.

Additionally, there are a number of government first home buyer schemes that could potentially help you buy sooner.

For instance, the federal government’s 5% Deposit Scheme lets first home buyers get started with a smaller deposit and zero lenders mortgage insurance.

Property price caps apply – or another scheme might be more suitable for your situation – so feel free to reach out to have a chat about them.

Could you upsize your income? Talk to us first

A survey by Canstar found around one-in-two Australians expect a pay rise in the months ahead. If that’s you, you may get a handy boost to your borrowing power.

However, if you’re thinking of raising a hand for overtime work, it’s worth noting that not all lenders include 100% of overtime pay in their income assessment . The same can apply to commissions and bonus payments.

That’s why it’s so important to speak to us – to get a clear idea of your borrowing power based on your current income.

We can help you understand how much you can afford to borrow across different lenders. It may not be necessary to give up leisure time for overtime to achieve your home-buying goal.

Thinking of a tree change? You might find more affordable homes

Wed, 18 Feb 2026 23:19:07 GMT

Ever dreamed of escaping the city?

Growing numbers of younger Australians are opting for regional living, and part of the lure of a ‘seachange’ or ‘treechange’ can be the chance to get more bang for your buck.

As property values climb higher, the median home price across our combined capitals has just pushed past the $1 million mark .

That’s seeing a rethink among plenty of Aussies, who are swapping city skylines for regional horizons.

Relocations from capitals to regions are outpacing moves in the opposite direction, according to the latest Regional Movers Index .

And recent CommBank research shows more than 5.3 million Australians – about 37% of city dwellers – would consider a tree change .

Gen Z (aged 18-29) is leading the trend, with almost half considering a regional move.

The Regional Australia Institute (RAI) found more affordable housing is a key appeal for more than two-in-five would-be tree changers, rising to one-in-two Gen Xers (1965-1980).

But are property prices really more affordable outside the big cities? And what should buyers be aware of when it comes to buying a home among the gum trees?

A $250,000+ price difference

There’s no doubt regional Australia can give home buyers a generous serve of affordability.

As a guide, the median home price across our combined capitals is currently $1,002,520 .

That’s a whopping $258,848 higher than the $743,672 median value across regional markets.

This price gap doesn’t just mean saving on the cost of a regional home, and property-related expenses like stamp duty.

It can also allow first home buyers with a smaller deposit to bring forward their buying plans, or buy a house rather than an apartment.

In addition, a lower purchase price may mean you need to borrow less, which brings the added plus of lower home loan repayments.

What about property price growth?

Let’s bust a few myths.

Yes, you can get great coffee outside of the cities, and no, regional areas don’t always lag behind state capitals when it comes to property price growth.

The latest house price data from Cotality shows regional home values rose 10.3% over the last year, outpacing the 9.2% gains across state capitals.

This isn’t a one-off.

Regional home values climbed 57.4% over the past five years, compared to 42.8% across the combined capitals.

This reflects what the Australian Housing and Urban Research Institute says is a knock-on effect of the long-term trend of people migrating out of our cities and into regional areas .

Could a tree change impact home loan eligibility?

If you’re considering pulling stumps from the city, and moving to the regions, it is important to be confident about your job prospects.

The good news is that many regional locations have healthy job markets , though this is always worth checking (not to mention taking into consideration your occupation or qualifications).

However, you may not need to change jobs at all.

An RAI study shows close to half (47%) of city dwellers planning a regional move would stay in their current job on a remote or hybrid basis .

Either way, it’s a good idea to talk to us about your work arrangements. That’s because home loan lenders like to see that you have stable employment when you apply for a home loan.

Other than that, the process of applying for a home loan is much the same regardless of where you plan to buy.

If you’re thinking of farewelling the big smoke in favour of country living, get in touch with us today. We can run through your situation and explain the home loan options that are a good fit for your needs.

Which generation tops housing wealth in Australia?

Wed, 11 Feb 2026 23:02:27 GMT

Hint: it’s not Boomers

Myth busted! Baby Boomers no longer own the bulk of housing wealth in Australia. We reveal who does, and how you could get started in the property market.

As many Baby Boomers (those born between 1946 and 1964) start to enjoy their retirements, they are passing the baton of property ownership over to the next generation.

A new report by KPMG reveals that Gen X (born 1965-1980) now holds more property-based wealth than any other generation .

Not to be outdone, Millennials (1981-1996) are also making a strong start in property wealth.

Let’s take a look at what’s happening, and how much property wealth each generation has accumulated to date.

The “great wealth transfer”

Baby Boomer households are still the wealthiest in Australia, with net worth (total assets minus debt) averaging $2.375 million per household.

However, KPMG says that as Boomers progressively hang up their work boots, they are downsizing their properties, and shifting money into cash and superannuation.

The upshot is that Boomers now have property wealth averaging $1.36 million per household.

While that’s nothing to be sneezed at, it puts Boomers in second place behind Gen X, with an average property wealth of $1.455 million per household.

Not surprisingly, both generations are ahead of Millennials, who have $890,000 in average household property wealth.

But there’s an unexpected twist to the property wealth story.

Property wealth is growing fastest for young Aussies

Younger Australians have the lowest levels of property wealth.

But they may have the upper hand when it comes to increasing wealth.

KPMG says 25-34-year olds, essentially Gen Z (the ‘Zoomers’ born 1995-2012), have seen the biggest gains in household wealth over the past five years.

The Zoomer generation has seen household wealth rise by around 63% since 2019-20.

According to KPMG, that’s largely thanks to rising home ownership among younger Australians – proof that a decent portion is climbing their way onto the property market ladder.

Property ownership pays off

All these stats confirm the key role home ownership can play in our lives.

Our homes aren’t just a place to live. They can also be a long-term investment.

Sure, for most of us buying a home involves taking out a home loan.

But paying off that loan can be seen as a form of forced saving, with the potential for household wealth to grow significantly.

Without the benefits of property ownership, long term renters may face serious financial challenges in retirement, according to an RBA report conducted by the Grattan Institute.

How you can get started

If you’re keen to start building wealth through property, it’s good to know that there are numerous government schemes available that can potentially help you buy sooner.

You may be eligible for a range of support – from the First Home Owner Grant , through to stamp duty savings, and the newly expanded 5% Deposit Scheme , which helps first home buyers buy with a smaller deposit and not pay lenders mortgage insurance.

Contact us to find out which schemes you could be eligible for, what your borrowing capacity is, and whether you’re ready to start your property buying journey.

RBA hikes the cash rate by 25 basis points to 3.85%

Tue, 03 Feb 2026 06:13:11 GMT

Not the best start for 2026…

Bad news for mortgage holders around the country: the Reserve Bank of Australia (RBA) today raised the cash rate by 25 basis points to 3.85%. Today we’ll look at why it did so, and how this rate hike could impact your monthly mortgage repayments.

Well, those three rate cuts in 2025 were nice while they lasted!

But recent ABS inflation data (3.8% in the year to December 2025) has the RBA concerned enough to start 2026 with a rate rise in an attempt to beat inflation back down to the 2-3% target range.

The RBA’s Monetary Policy Board said in a statement that while inflation had fallen substantially since its peak in 2022, it had picked up again in the second half of 2025.

“While part of the pick-up in inflation is assessed to reflect temporary factors, it is evident that private demand is growing more quickly than expected, capacity pressures are greater than previously assessed and labour market conditions are a little tight,” the Board said of its unanimous decision.

“The Board judged that inflation is likely to remain above target for some time and it was appropriate to increase the cash rate target.”

How could this affect your minimum monthly mortgage repayments?

Unless you’re on a fixed-rate mortgage, your bank will likely soon follow the RBA’s lead and increase the interest rate on your variable home loan.

For an owner-occupier with a 25-year loan of $500,000 paying principal and interest, this month’s 25 basis point rate hike means your monthly repayments could increase by about $77 a month.

That could add about $924 a year to your household budget.

If you have a $750,000 loan, your minimum monthly mortgage repayments will likely increase by about $115 a month – or $1380 per year.

Meanwhile, a $1 million loan could increase by about $154 a month – or $1848 a year.

This all assumes that your lender automatically passes on the full 25 basis point hike to your home loan.

To find out what your lender is doing with your loan, get in touch with us in a few days once the dust has settled and the banks have announced their next moves.

Feeling the strain of your mortgage? Let’s talk

Ok, so the RBA has lifted the cash rate – it can be a tough pill to swallow for families on tight budgets. But there are still some steps you could potentially take to help offset this hike.

If it’s been a while since your last home loan review, now could be a good time to check in. You might be able to improve your situation – and we’re here to help you explore your options.

This could include renegotiating with your current lender, refinancing to another lender, or debt consolidation.

Every household is unique, and we’re committed to helping you find a solution that fits your needs.

How high are property prices predicted to go in 2026?

Wed, 28 Jan 2026 23:51:20 GMT

Do you know your borrowing power?

After a lengthy run of rising prices in 2025, some pundits are tipping property prices could keep climbing in 2026. Today we’ll take a sneak peek inside the experts’ crystal ball – and what it could mean for your home buying plans.

2025 was a great year for home owners, though a little more challenging for buyers, with property prices climbing 8.6% nationally .

And it seems there could be plenty of steam left in the market to push prices higher in 2026 – and again in 2027.

A new report by KPMG suggests house prices across Australia could climb another 7.7% this year alone.

Of course, a lot can happen to impact property prices over the next 12 months.

So, how might prices perform in your patch?

Below is a rundown of KPMG’s forecasts for property price growth across each of the major capitals.

Sydney: the median house price could approach $2 million

Sydney house prices are being predicted to rise 5.8% in 2026, with further growth of 5.7% in 2027.

Apartment prices are forecast to increase 5.3% this year, backed up by a 4.0% rise next year.

With Sydney’s median house price currently sitting at $1.62 million , if KPMG’s forecast proves correct, the median value could top $1.81 million by the end of 2026.

Brisbane: the big gains may not be over yet

Last year saw Brisbane home values rise 14.6% – some of the biggest gains nationally, second only to Perth.

KPMG believes there’s plenty of fuel left in the tank, with house prices expected to rise 10.9% in 2026, and 8.9% in 2027.

Meanwhile, the price of Brisbane apartments is forecast to rise 7.8% for 2026, followed by growth of 4.9% in 2027.

Melbourne: price growth expected to outpace 2025

With a median residential property value of $854,000 , Melbourne is now one of Australia’s more affordable capital cities.

However, prices look set to climb, with forecast house price growth of 6.8% in 2026, and then rising another 7.3% in 2027.

The next 12 months is expected to see apartment values rise 7.3%, with further gains of 5.5% forecast for 2027.

Canberra: moderate prices growth expected

Property prices in the nation’s capital rose just 4.2% in 2025 , and moderate growth is expected to continue this year.

KPMG is tipping house prices to rise 4.7% in 2026, followed by growth of 3.3% next year.

Canberra apartments are expected to increase in value by 4.9% over the next 12 months, and then climb 3.6% in 2027.

Hobart: softer growth tipped for 2026

After rising 7.8% over the past 12 months , property prices in Hobart could be poised for softer growth in 2026.

House prices are expected to increase by 5.4% this year, while Hobart unit values are tipped to rise 5.1%.

2027 may see price growth continue, with house and apartment values expected to rise 4.1% and 4.0% respectively.

Adelaide: the run of price growth may continue

Strong price growth in recent years has taken Adelaide’s median home price to $908,000 .

This year, KPMG is expecting the run of growth to continue, with house prices forecast to rise by 8.2%, with a further increase of 3.3% in 2027.

Unit prices are tipped to climb 6.6% this year, with growth of 3.8% in 2027.

Perth: another year of big gains

Perth’s property market was a standout in 2025, notching up price growth of 17.2% .

According to KPMG, the WA capital is set to see double-digit price growth again in 2026, with house prices expected to rise 12.8%, and

apartment values forecast to increase by 11.6%.

Price growth may be more modest in 2027, with house and apartment prices expected to rise 5.1% and 3.9% respectively.

Darwin: double-digit growth may lie ahead

As Australia’s most affordable capital, with a median home price of $578,000 , Darwin prices look set to rise over the next two years.

House prices could increase by a hefty 10.5% in 2026, while apartment prices could see even bigger gains of 13.4%.

2027 should see slightly softer price growth across both houses (up 6.8%) and units (9.3%).

What’s likely to drive prices higher?

KPMG is not alone in expecting property prices to climb this year.

Research group Cotality doesn’t offer price predictions, but it is expecting “modest” price growth through 2026 .

The common assumption underpinning these predictions is that two key forces are likely to push prices higher – tight supply of new homes coupled with strong buyer demand.

Although housing construction is increasing , it is unlikely to keep pace with the estimated need for 240,000 new homes needed annually .

Buyer demand has been heavily influenced by three rate cuts in 2025 , and the expansion of the first home buyer 5% Deposit Scheme in late 2025.

The upshot is an 18% rise in demand for home loans in December 2025 compared to the previous December.

Time to review your buying plans?

Of course, forecasts are just that – predictions – and plenty could change over the year ahead.

Even so, if you’re holding off buying in the hope of prices softening, you could be left disappointed, and possibly even out of pocket.

Now is a great time to talk to us to find out if you’re home loan ready. We’ll help you work out your borrowing capacity, so you can start working to a house-hunting budget.

 Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Roll up those sleeves – a renovation renaissance is slated for 2026

Wed, 21 Jan 2026 23:09:46 GMT

Got any home improvement projects planned?

A renovation boom may loom, with plenty of home owners choosing to renovate rather than relocate this year. So if you have plans for home improvements, it’s worth knowing how to fund your project.

Australians love tackling home renovations!

Home owners collectively spend over $1 billion each month improving their place.

And along with a more comfortable home, plus the potential to add value, well-planned renovations can also be a money-saver. They don’t incur big, non-value adding costs (such as stamp duty) that go hand-in-hand with selling up and buying elsewhere.

But amid the excitement of drawing up plans and comparing paint samples, it’s important to consider how you will fund your project.

Here’s what to weigh up.

Lending for renovations is on the rise

For smaller renovations, it may be possible to use cash savings to cover the cost.

But if you plan to shower your place with serious love, chances are you’ll need to consider finance options.

That appears to be the case for a growing number of home owners.

The Housing Industry Association says the value of lending for home improvements is now almost three times higher than it was pre-COVID.

So it’s important that you choose the finance option that suits your needs.

Your home loan could provide a solution

Last year, around 30,000 home owners relied on housing finance to pay for renovations ..

Fortunately, rising property values may mean you have enough home equity to help fund renovations.

If that’s the case, you could opt for a loan top-up. This is where your lender agrees to let you borrow extra money by increasing your current home loan.

A top-up can be a simple strategy. However, any change to your old loan should be a cue to look into refinancing.

Switching to a new home loan may allow you to secure a more competitive rate or access improved loan features.

Refinancing can come with costs. That’s why it’s so important to speak with us. We can crunch the numbers to show whether the benefits outweigh the costs, and if refinancing aligns with your goals.

A construction loan could be worth a look

For home owners undertaking major renovations, such as a large extension, a dedicated renovation or ‘ construction’ loan might be a useful option.

This type of loan differs from traditional home loans.

Instead of receiving a lump sum of cash, the loan funds are gradually released in line with various stages of the project – from laying the slab to final detailing, for example.

Part of the appeal of a construction loan is that interest is typically only charged on the funds drawdown. This can be helpful for cash flow while the project is underway.

It’s usually only when the renovation reaches completion and is formally signed off that the loan reverts to principal plus interest payments.

Construction loans can be useful for renovators but they’re not available through every lender.

Want to discuss your reno finance options?

If you’re keen to roll up your sleeves and give your place a makeover in 2026, get in touch with us to understand which finance options could meet your needs and budget.

After all, trying to plan a renovation without a budget is guesswork. Having a clear figure to work towards can help you prioritise, and then get the ball rolling on, your 2026 home renovation project.

Nurses, teachers or CEOs: which occupation boasts more property investors?

Wed, 14 Jan 2026 23:49:12 GMT

Place your bets…

Owning an investment property isn’t limited to the uber-rich. In fact, investors are usually people you interact with daily. Today, we’ll reveal which occupations are the nation’s most prolific property investors, and how you could potentially join them.

Owning a home has traditionally been the great Australian dream, but aspirations to own an investment property may not be far behind.

One-in-four households plan to invest in real estate over the next year, according to Agile Market Intelligence.

If they do, they’ll be joining the almost 2.3 million Australians who reported earning rental income in 2022-23 (the most recent Australian Tax Office figures).

What’s especially interesting, though, is that PropTrack research shows property investors span almost all adult ages, levels of income , and occupations .

But which occupations top the property investor list?

Topping the list is general manager with 65,559 property investors (no surprises there), with CEO/managing director coming in at third with 60,800, according to ATO 2021-2022 financial year data compiled by PropTrack .

But splitting them in second place is teachers (both primary and secondary) with 64,529 investors, while nurses come in at fourth (55,519) ahead of accountants (49,203) at fifth.

Other noteworthy top 20 occupations include electricians (12th with 21,397), truck drivers (18th with 15,378), and police (20th at 15,400).

With the above in mind, let’s look at four possible pathways to investing in property – even if you don’t boast a fancy job title or have substantial savings for a deposit.

Harness home equity

Home values nationally have risen 49.1% over the past five years .

That’s great news for home owners, many of whom may have seen an increase in their home equity (the difference between a home’s market value and the remaining home loan balance).

Depending on how much equity a home owner has, it may be possible to use part of this equity as a deposit on an investment property.

Get in touch with us to find out exactly how much home equity you have, and whether it could be put to work as a deposit on an investment.

Turn a first home into a rental

If you’re ready to upgrade to your next home, you may have considered holding onto your current place and renting it out.

It’s a strategy that could mean saving on selling costs. You may also be able to leverage accumulated equity to help fund the new home.

But if you’re thinking about this pathway to investing, it’s important to speak with us about financing arrangements. Not to mention an accountant, as it can have some considerations to navigate come tax time.

Rentvesting – weigh up the pros and cons

Rentvesting is all about renting where you live while owning an investment property in another, potentially more affordable, suburb.

The beauty of this approach is that you get to call your preferred suburb ‘home’, while having the opportunity to earn rental income, and potentially benefit from a rise in the value of the investment property over time.

According to PropTrack, rentvesting is on the rise , especially among first home buyers.

However, as with any investment strategy, there can be pros and cons.

When you buy as an investor, you’re unlikely to be eligible for first home owner grants or other first home buyer concessions.

This should be weighed against the rental income and potential tax savings an investment property may generate.

Co-investing – a possible boost to buying power

If your finances don’t stretch to buying an investment property solo, an alternative may be teaming up with family or friends as co-investors.

This strategy can be a way to pool financial resources and share costs.

However, there is also plenty to plan for, including how expenses will be divided, and working out an exit strategy if one owner wants to bail out ahead of the other co-owners.

If you feel co-buying could be an option that suits your goals, we can explain the various options to finance a property. Some lenders offer mortgages specifically designed for co-borrowers.

Talk to us

If you’re thinking about investing in property, it’s important to speak with a tax professional to understand the tax obligations involved, and weigh up whether property suits your investment needs and goals.

When it comes to financing a rental property, what matters is that you know the options available for your situation – and the buying strategy you have selected.

Like to learn more? Contact us today to find out if you could become a property investor.

Aussie home owners just got $82,000 richer on average

Thu, 08 Jan 2026 01:01:52 GMT

Here’s how to put your equity to work

What a way to start the new year! After a strong 12 months in the property market, plenty of homeowners around the nation are now a whole lot wealthier. And their newfound increase in home equity has opened up some exciting possibilities for 2026.

Your home isn’t just a place to live in, it could also be a cornerstone of personal wealth.

2025 proved this in spades.

At a time when holiday spending means many of us may not be feeling particularly wealthy, a rise in your home’s value could see you $82,200 richer (on average) as we head into 2026, according to PropTrack .

Let’s take a look at what’s happening, and how you could put all that equity-driven wealth to work.

2025: a bumper year for homeowners

Australia’s housing market finished 2025 on a record high, spurred on by rate cuts, increased investor demand and expanded home buyer incentives, says PropTrack .

After climbing 8.8% over the year, the national median home value gained $82,200 over the course of the year .

Even bigger gains were recorded in several capital cities.

Sydney’s median value rose by $101,200 through 2025. Brisbane’s median went up $135,900 and Adelaide’s median home price grew by $101,600.

Perth topped the leaderboard of gains, with the city’s median home price rising by an eye-watering $148,100 in 2025.

A few smart strategies could help you get a lot more bang from your higher-home-equity buck! Here are three ideas worth a look.

1. Give your place a makeover

Whether your home is a little too snug for your family’s needs, or it could just do with a thorough refresh, your home equity could help fund the renovation improvements.

Even better, renovations don’t just make your place more liveable, they can also add to your property’s value – making renovations a win-win.

2. Invest in a rental property

Property may not only serve as a long term investment , it could also generate regular rental income plus valuable tax savings (always speak to your tax professional for tailored advice on this).

And if you think you have to be rich to become a landlord, think again.

Teachers, nurses, truckies and cops are among the nation’s most-prolific property investors .

That’s because one trick to becoming an investor is to use your resources wisely.

The good news is that you may be able to use home equity in lieu of cash as a deposit on an investment property .

This may not only let you hang onto cash savings, it could also mean you use one valuable asset (your home) to fund another asset (the rental place), which may also grow in value.

3. Refinance and reap the rewards of a new loan

An increase in your home’s value may offer more than bragging rights around the office water cooler.

It could also help you save on interest on your home loan.

When your home’s value increases, your loan-to-value ratio (LVR – that’s the value of your loan as a percentage of your home’s market value) decreases.

This shift matters because a lower LVR may mean you represent less risk to lenders. And this might see you eligible for a lower interest rate.

Refinancing isn’t just about rate savings though.

Switching to a new loan and lender could help you access new or more suitable loan features.

It could also free up funds for other purposes – anything from giving your kids a quality education, to paying for your next holiday, or consolidating personal debt to streamline your finances.

Talk to us about putting your equity to work

If you’re not making the most of your home equity, it might be time to ask yourself ‘why not?’.

Get in touch today to find out how you could make your home equity work harder.

Happy New Year! Let’s discuss some potential 2026 goals

Wed, 31 Dec 2025 23:36:17 GMT

Got your New Year’s resolutions figured out yet?

There’s nothing quite like a New Year’s resolution to fire you up for another lap around the sun. Whether you’re looking to buy your first home, save on your mortgage, or leverage the equity in your current position, here are three resolutions to consider for 2026.

So long, 2025 … You know what? We’ve got to admit, you weren’t too bad after all.

Three RBA rate cuts, a bunch of first-home buyer schemes unveiled, and national property prices increasing by 8.7% all bode well for the three potential New Year’s resolutions we’ve outlined below.

Potential goal 1: cracking the property market

If you’ve been keen to buy your first home for a while, then we’ve got good news for you.

There are currently a range of government schemes that could help you get into the property market with less than the typical 20% deposit.

For starters, in October last year the federal government expanded the Home Guarantee Scheme (HGS) so that all first home buyers are now eligible to buy a home with as little as a 5% deposit – and not pay lenders mortgage insurance.

Then in December, the federal government launched its long-awaited Help to Buy shared equity scheme.

Under the scheme, eligible home buyers only need a 2% deposit. From there, the government contributes up to 40% of the purchase price of a new home and up to 30% for existing homes, in exchange for an equity stake in the property.

There are also potential state and territory first-home owner grants and stamp duty concessions you may be eligible for, meaning you could already have enough saved up to buy your first home.

Get in touch today and we’ll help you crunch the numbers.

Potential goal 2: leverage newfound equity in your home

As we touched on earlier, national property prices have increased 8.7% over the past 12 months.

In the same period, we had three RBA cash rate cuts, meaning interest rates are lower than they were 12 months ago.

Now, with those two special ingredients combined, you could potentially refinance your home loan to a lower interest rate, cash out some newfound equity in your current property at the same time, and use that equity to invest in an investment property, shares, or a renovation.

Contact us today to get a clearer picture of your home’s potential equity – and how you could use it to achieve your financial goals in the year ahead.

Potential goal 3: refinance to a more competitive interest rate

The mortgage market remains highly competitive on the back of three rate cuts in 2025, with some lenders recently trimming their variable home loan rates.

So there’s a chance you could be eligible for a lower rate, especially if you’ve had the same home loan for a while.

Refinancing to a more competitively-priced loan could put money back in your pocket during 2026 (and beyond), or help you enjoy loan features better-suited to your needs.

Contact us today for a home loan review. The odds of another RBA rate cut this year are looking increasingly slim, but that doesn’t mean you can’t create a special rate cut of your own!

Season’s greetings! Here’s to a well-earned summer break

Mon, 22 Dec 2025 22:20:30 GMT

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As the Christmas and New Year’s festive season rolls around, we want to take a moment to sincerely thank you for your trust and support throughout 2025.

Fortunately, we had a bit more to smile about this year, with three RBA rate cuts and national property prices increasing by 8.7%.

That said, 2025 wasn’t without its hardships, with many families around the country still facing cost-of-living pressures and inflation starting to creep back up again (which inevitably brings with it talk of rate hikes, rather than cuts).

Looking ahead, if there’s anything we can do to help ease any cost-of-living pressures you may be experiencing, please don’t hesitate to get in touch and we can review your home loan.

Alternatively, if you’re looking to buy your first home, second home, or an investment property (or a family member mentions any of the above over the Christmas catch-up), we hope you think of us!

But for now, take a well-earned pause, enjoy the festive moments, and spend time with the people who matter most.

While the year ahead will no doubt bring its own surprises, one thing remains constant: our commitment to supporting you at every stage of your property journey.

Wishing you a joyful Christmas, a relaxing break, and a bright, opportunity-filled year ahead. We look forward to supporting you again in 2026.

Your suburb’s 2025 property report card is in

Wed, 17 Dec 2025 23:26:14 GMT

How did your local area perform?

You might’ve seen recent headlines that national property prices made another big jump this year. But do you know exactly how your suburb and property type performed? Well, today we’ll show you how to find out in just a few quick clicks.

Over the past year, home prices have risen 8.7% nationally, according to PropTrack.

If you think that’s impressive, over the past five years, property values have jumped more than 50% nationally.

The question is, what’s the current market value in your neck of the woods?

Here’s how to find out.

Does your neighbourhood top the table for price growth?

To discover what the average home is worth in your neighbourhood, and how much values have increased in the past year, head to Domain’s online property price calculator.

With any luck, you’ll be pleasantly surprised (note: you can toggle between ‘house’ and ‘unit’).

You could be among the home owners around Australia who have seen their place outstrip the national uptick (remember that’s 8.7% in the past year).

Domain data shows there have been some stand-out suburbs.

Houses in Adelaide’s Blair Athol notched up 17% gains in 2025 to reach a median value of $802,500.

Houses in Cabramatta, in Sydney’s south-west, jumped 18% to hit a median of $1.152 million.

Brisbane’s Acacia Ridge (median value $830,000) recorded price growth of 13% in 2025.

Not far behind was the Perth suburb of Baldavis (median value of $720,000), where house price growth topped 11% this year.

And in Melbourne, houses in beachside Frankston North racked up 10% price gains to reach a median value of $650,000.

Why have home prices climbed?

Australia’s housing market staged a surprise turnaround in 2025, thumbing its nose at affordability challenges and cost-of-living pressures, to achieve above-decade-average price growth.

Three rate cuts in 2025, an expanded 5% Deposit Scheme and low volumes of homes listed for sale helped drive values higher.

Put your home equity to work

A rise in your home’s value offers more than bragging rights over Christmas lunch.

It could make you eligible for a lower-rate home loan, offer a source of funds to achieve personal goals in 2026, or be the key that lets you upgrade to your next home.

Call us to find out how you could make the most of a rise in your home’s value.

No Christmas rate cut – could rates rise in 2026?

Wed, 10 Dec 2025 23:37:50 GMT

What’s in store for 2026?

Not so long ago plenty of economists were tipping a fresh round of rate cuts in 2026. But the picture’s not so clear anymore. There’s even talk of possible rate hikes next year. Here’s how you can prepare.

Talk about interest rates being unpredictable!

We started 2025 with the Reserve Bank of Australia’s (RBA’s) cash rate sitting at 4.35%. February saw the first rate cut in five years . After two further rate cuts, the cash rate is down to 3.60% .

And thanks to the RBA keeping rates on hold in December , that’s exactly where the cash rate will stay – at least until February when the Reserve makes its next rate call .

The thing is, as recently as October, several of the big banks were predicting lower rates in 2026 .

Today, the odds of a rate cut early next year – or any time over the next 12 months – are looking increasingly slim.

Let’s take a look at why, and what you could do about it.

What’s stopping more rate cuts?

Three factors are keeping the cash rate in a holding pattern.

First, the Aussie economy is growing. It’s only managed growth of 2.1% for the year, but the direction is upwards.

In addition, the job market is strong. The unemployment rate fell to 4.3% in October , down from 4.5% in September.

The chief deal breaker for further rate cuts (for now) is rising living costs.

Inflation is currently at 3.8% , well above the RBA’s target range of 2-3%.

Following the December rate meeting, RBA Governor Michele Bullock told journalists “ additional (rate) cuts are not needed ”. Instead, she flagged the prospect of possible future rate hikes.

Long story short: official rate cuts appear to be off the table.

But that shouldn’t stop you from trying to make a rate cut of your own.

Let’s review your home loan

The mortgage market is highly competitive, with some lenders recently trimming their variable home loan rates .

So there’s a chance you could score a lower rate, especially if you’ve had the same home loan for a while.

Refinancing to a more competitively-priced loan could put money back in your pocket during in 2026 (and beyond), or help you enjoy loan features better-suited to your needs.

Contact us today for a home loan review – you could line yourself up with a rate cut in time for Christmas after all – or possibly even consider fixing it ahead of any more talk of rate hikes in 2026.

2% deposit scheme ‘Help to Buy’ launches

Wed, 03 Dec 2025 23:28:55 GMT

Know anyone looking to buy a home?

Imagine being able to buy your own home with just a $12,000 deposit. That’s what the federal government’s new Help to Buy shared equity scheme can offer . But there are some pros and cons to be aware of. Let’s take a look.

Think back to 2022. That’s when the Labor government first proposed a new Help to Buy scheme .

It sparked plenty of interest back then. But three years is a long time to wait for anything, and chances are plenty of would-be home buyers have now forgotten about it ahead of its December 5 launch date.

Below we explain how Help to Buy works, and weigh up the potential benefits and drawbacks.

How Help to Buy works

Help to Buy is unlike any other scheme currently available.

It doesn’t offer a cash handout like the First Home Owner Grant .

And it goes beyond the 5% Deposit Scheme , which sees the government guarantee a first home buyer’s mortgage, so they can buy with a small deposit and avoid lenders mortgage insurance.

Instead, Help to Buy is a shared equity scheme .

Eligible home buyers only need a 2% deposit. From there, the government contributes up to 40% of the purchase price of a new home and up to 30% for existing homes, in exchange for an equity stake in the property.Here’s an example.

Olivia is a first home buyer. Using Help to Buy, she purchases an established home costing $600,000.

Olivia pays a 2% deposit of $12,000, and takes out a home loan for $408,000.

The government chips in $180,000 (30% of $600,000).

In this way, Olivia is able to pay the full $600,000 purchase price.

Help to Buy may benefit Olivia in two key ways.

First, it takes less time to save a 2% deposit than a 5% or 20% deposit. So Olivia can bring forward her home buying plans.

Secondly, because the government pays 30% of the purchase price, Olivia can take out a smaller home loan, which lowers her regular loan repayments, making home ownership more affordable.

Who is eligible for Help to Buy?

While Help to Buy is chiefly pitched at first home buyers, it’s also available to those returning to home ownership .

Along with the need to have at least a 2% deposit, income limits apply. Singles can earn up to $100,000 annually, or up to $160,000 for single parents and couples combined.

There are caps too on the value of properties that can be purchased under the scheme. These vary between states and territories as well as between metropolitan centres and regional locations.

Talk to us to find out if you’re eligible.

What to weigh up with Help to Buy

As we’ve noted, Help to Buy offers an opportunity to buy with just a 2% deposit, pay zero lenders mortgage insurance, and get started on the property ladder with a smaller home loan.

No rent or interest is owed on the government’s equity stake , though home buyers still pay upfront purchase costs such as stamp duty and legal fees.

The chief downside is that at some stage the government expects to get its money back.

Home owners using Help to Buy can repay the government’s 30% or 40% equity stake through either voluntary repayments, or from profits on the sale of the property, or when they have the money to do so at some future date, for example, by borrowing the funds.

But it’s important to know the fine print.

Home owners aren’t just expected to repay the government’s initial contribution.

The government’s share of a home is linked to the value of the property at the time of paying out the government’s stake .

Put simply, the government scores a slice of any profits made on the sale of a home in line with its equity stake.

Completing renovations can be more complicated too.

For any major home improvements, Housing Australia (which oversees Help to Buy) will organise a valuation both before and after the renovation.

While this ensures the home owner – and not the government – pockets any value-add from renovation spending, it does mean more hoops to jump through.

One further drawback – for now at least, is that very few lenders are participating in the scheme. More are expected to join from early 2026.

Talk to us to find out more

Help to Buy is currently limited to 10,000 home buyers each year.

As a new and very different way of helping home buyers, time will tell how Australians feel about sharing equity in their home with the federal government.

In the meantime, if you’re a first home buyer or returning to home ownership, talk to us about the various options to help you get started in the market.

Why now may be the time to buy a rental property

Thu, 27 Nov 2025 00:10:06 GMT

Ever thought about becoming a property investor?

2025 has been a big year for property investors. But the rapid growth of investment lending has fuelled speculation about a possible crackdown on loans to property investors. We explain what’s happening, and why it might be worth considering bringing forward your plans.

The past year has been a cracker for property investors.

The tightest vacancy rates on record have seen a pick-up in rental growth.

Interest rates on investment home loans are at their lowest since late 2023.

And to top it off, property price growth nationally has hit the fastest pace in over two years .

No wonder investors are buying up property in record numbers .

But as lending to investors hits the fastest pace in a decade , our bank regulator – the Australian Prudential Regulation Authority (APRA) – is watchful.

Some commentators are even suggesting APRA could clamp down on investment lending in a bid to cool property price growth.

Here’s what you need to know if buying a rental property is on your wish list.

Investment lending outstrips mortgages to owner occupiers

There’s no doubt about it, investors have been a driving force in the property market this year.

The September quarter alone saw a 13.6% rise in the number of new investment loans.

That’s 57,624 new investment home loans in the space of just three months – the highest number since early 2022.

Zooming out a little further, the past year has seen lending for investment properties outstrip growth in home buyer loans, according to ABS data.

So what’s the problem?

What’s worrying APRA are potential signs of a pick-up in riskier lending, in particular what it describes as “ high debt-to-income borrowing by investors ”.

Here’s the red flag for would-be investors.

In a recent report , APRA warned it is “ensuring banks are prepared to implement additional macroprudential tools where required to reinforce lending standards”.

In plain English, APRA is reminding banks that as the industry regulator, it can, and may, change the rules around lending to property investors – a step it has taken in the past.

The lessons of 2014–2018

2014 might seem like a lifetime ago.

However, seasoned property investors may recall 2014 as the year APRA aimed to gently cool the property market by limiting annual lending growth to property investors to 10% .

APRA further tweaked the rules by imposing a 30% limit on interest-only loans, which are typically favoured by investors.

The regulator eventually relaxed its investment lending restrictions in 2018.

Could history repeat?

Property market conditions back in 2014 were similar to those we see today.

Values were rising fast, interest rates were on a downward trend, and household income growth was sluggish.

This has fuelled speculation that APRA may introduce new regulations for today’s generation of property investors.

What it could mean for your investment plans

The decision to buy an investment property should never be rushed.

That said, if APRA does tighten lending policies, investors who delay their decision could find they have missed the boat due to changes to their borrowing power or lender restrictions.

So, somewhat ironically, APRA’s latest warnings may just spur some investors to bring forward their buying plans.

If you’re keen to become a property investor or expand your portfolio, get in touch with us today.

We can help you assess your borrowing capacity as it currently stands, and provide insights into the different funding options that could help you invest.

 Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

5-year goal: 1-in-3 Gen Zs planning to buy a first home

Thu, 20 Nov 2025 00:09:17 GMT

Wondering how to crack into the market?

Gen Z may be known for being tech savvy, but they’re also showing their smarts when it comes to home buying, with a surprisingly large number preparing to buy their first home before the end of the decade. Here’s how Gen Zs are making their home-buying plans happen.

They don’t call it the ‘great Australian dream’ for nothing.

Owning a home remains a leading goal for many Australians and a recent Westpac survey found more than one in three (35%) Gen Zs – that’s chiefly people aged in their 20s – plan to buy their first home in the next five years .

That’s a 5% increase since the start of the year, and signals a growing wave of confidence among Gen Z home buyers.

What’s driving the jump in home-buying optimism?

Let’s take a look.

Why more Gen Zs are determined to buy a home

First and foremost, almost two in five (37%) say they want to be more independent. Fair enough too – years of living in the family home, or answering to a landlord, can make a place of your own very attractive.

More than one in three (34%) Gen Zs are keen to buy a home as a way of feeling more financially secure.

About the same proportion (32%) simply want to get off the rental treadmill. Makes sense. Why pay rent when you could be paying off your own home?

What they’re doing to meet their goal

The overwhelming majority of Gen Z buyers – about eight in ten – are boosting their deposit by fine-tuning their lifestyle, making fuss-free changes such as cutting back on food deliveries and other non-essentials to save money.

Faced with a shortage of homes listed for sale , Gen Zs are also playing it smart by broadening their search. Four in five (80%) say they’re happy to consider suburbs they hadn’t previously thought of.

Gen Zs are also keeping their options open when it comes to the type of home they’ll buy.

Plans to buy an apartment, which can have an affordability edge , have jumped 2% since the start of the year, while interest in buying a house has cooled slightly.

More than half (55%) of Gen Z buyers are even considering rent-vesting – making their first property an investment, while choosing to rent where they want to live.

What deposit are Gen Zs aiming for?

There’s no getting around the fact that today’s high property prices can be a hurdle when it comes to saving the traditional 20% deposit.

So Gen Z buyers are leaning towards a different solution: buy with a smaller deposit.

Over half (53%) of 20-something first home buyers are moving ahead with plans for a deposit of 10% or less.

The good news is that this has become a lot easier thanks to the newly expanded Australian government 5% Deposit Scheme . It lets eligible buyers get into the market with as little as a 5% deposit and zero lenders mortgage insurance.

Let’s develop your first home strategy

Buying your first home doesn’t have to be a pipedream.

With a clear savings strategy, the backing of government support schemes, and a home loan that is a great match for your needs, home ownership can be achievable.

Contact us today to start the path forward to buying your first home. You could be in a place of your own sooner than you think!

Australian home owners focus on paying down debt

Wed, 12 Nov 2025 23:17:42 GMT

Decisions, decisions…

To save or to pay down your home loan, that is the question. Ok, so it’s not Shakespearean levels of contemplation – but it’s still a big decision facing many Australian families right now. Let’s take a look at what the majority of home owners are leaning toward.

A growing number of home owners have given up waiting for rate cuts and are making home loan savings of their own – by knuckling down to reduce their mortgage balance.

A survey by Agile Market Intelligence found 69% of home owners – the highest percentage this year – are making it their top priority to get ahead with their home loan .

Let’s take a look at why so many are deciding to do so.

Interest rates

The interest rate you pay on a home loan will most likely be higher than the rate you’ll earn on a separate savings account.

No surprise there – charging loan interest is one of the key ways banks make money.

So, by paying down your loan sooner, you can typically save more in loan interest charges than the interest you could earn on personal savings.

Better still, the sooner you start paying down your loan, the more interest you can save over time, and the earlier you become debt-free.

That’s because every extra dollar that goes into your home loan comes straight off the loan balance. This in turn lowers the next month’s interest charge.

But as your regular repayments stay the same, more of the next month’s repayment goes towards reducing the loan balance.

In this way, the loan pendulum can start to swing more in your favour, and you can really get stuck into reducing your home loan balance.

Increased equity

When you reduce the amount owing on your loan, your home equity usually increases (so long as the value of your home doesn’t dip in value).

And the more equity you have, the more opportunity you could have to refinance to a lower interest rate loan (there’s more savings for you) or to tap into your home equity to achieve other goals, such as investing in a rental property.

Ways to pay down your home loan sooner

We understand that today’s high living costs mean home owners don’t always have a lot of spare cash to throw at their mortgage.

That’s okay.

It’s possible to pay off your loan sooner – and save on interest charges – even when cash is tight.

Here are some ideas to get you started.

1. Pay more often

Paying half your monthly repayments every fortnight (rather than monthly) means you’ll end up repaying the equivalent of 13 monthly instalments each year instead of 12.

This extra month’s worth of repayments can make further inroads on your home loan balance, and paying fortnightly may also be easier on your cash flow, especially if you can sync repayments up with paydays.

2. Add lump sums

Lump sum payments on your home loan can accelerate its reduction.

That can make it worth depositing tax refunds, end-of-year work bonuses, or other ‘windfalls’ straight into your home loan. Chances are you’ll never miss what you’ve never had.

3. Consider an offset account

An offset account can let you use spare cash to pay off your loan sooner.

The balance of the linked offset account is deducted from your loan balance when monthly interest is calculated. This reduces the monthly interest charge, so more of each repayment whittles away the loan principal.

Talk to us to know if an offset account is suitable for you.

4. Check the rate you’re paying

No matter how hard you work to pay off your home loan sooner, you could be behind the eight ball if you’re paying a higher interest rate than necessary.

For context, the Reserve Bank says the average variable rate is about 5.5% . But according to Mozo, there are plenty of lenders offering a lower rate .

That’s why it’s important not to assume you are paying a competitive rate.

Call us to organise a home loan review. We can confirm the rate you’re currently paying, and let you know if you could save by switching to a loan with a more competitive rate.

How to pay down your home loan sooner

Whether you signed up for a 25- or 30-year mortgage, you don’t have to chip away at your home loan for this amount of time.

And really, how good would it be to become mortgage-free sooner?

If paying down your loan is a personal goal, talk to us to find out more ways you could get ahead with your loan.

 Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Time to buy? House prices tipped to heat up this summer

Wed, 05 Nov 2025 23:25:17 GMT

Got much planned this summer?

Property prices are running hot as we head into summer, and the market is tipped to dial up even further over the next 12 months. Here’s how it could shape your home-buying plans.

Aussie home values are sprinting into summer, with property price growth hitting the fastest pace in over two years in October.

The price hikes are unlikely to stop there.

A record nine out of ten (88%) respondents to a recent API Magazine survey expect home prices to climb higher .

It seems the experts agree.

PropTrack believes we could see further price rises over spring and summer, while the Commonwealth Bank says “ we still expect further gains ” this year.

If forecasts of rising home prices prove accurate – and as we’ll see, there’s a decent chance they could – now could be the time to bring forward your home-buying plans.

Home prices jump 6.1% in the past 12 months

It’s been a big year for property, with home prices nationally climbing 6.1% over the past 12 months .

Several factors have come together to push home values higher.

Lower interest rates have boosted home buyer demand .

Tight rental markets have fuelled investor activity, with investors now making up around their highest share of lending since 2017 .

Further piling pressure on home prices is the additional demand created by the newly expanded 5% deposit first home buyer scheme .

On the flipside, supply remains tight. And supply doesn’t look like catching up to demand any time soon. New home completions are already 15.6% below average for the past decade .

The bottom line is that the potential for further price rises might be a compelling reason to bring forward home buying plans.

Home price growth is eating away at borrowing power

Buying a home is never a decision that should be rushed.

But with no end in sight to property price gains, now may be time to advance your buying plans.

Speak to us – we can let you know if you are home loan-ready right now.

This is not about sprinting in to buy the first home that comes along.

Rather, it’s a matter of making the most of the buying power you have today, because it could be lower tomorrow if home prices keep rising.

You see, while the Reserve Bank’s interest rate cuts have given households on the median income a $51,000 increase in borrowing power , median home values across our big cities have risen almost $54,000 since February.

Put simply, home prices are rising faster than home buyers’ borrowing power.

Call us to get the ball rolling

An unexpected jump in inflation has put a question mark over possible future rate cuts .

So home buyers can’t rely on future rate cuts for an uptick in personal borrowing power.

A better strategy is to talk to us today.

We can explain if you’re home loan-ready right now, and how to get the ball rolling on home finance before prices rise further.

Forget ‘The Block’, more homes are selling at auction

Wed, 29 Oct 2025 22:53:10 GMT

Reality TV vs Reality

Season 21 of The Block may be over but the sales are not, with two homes failing to find buyers at auction. It’s a different story across the broader market though. As auction clearance rates heat up we explain how to get your auction game on.

Life may imitate art, but reality TV doesn’t always reflect reality.

The Block’s latest final episode is a case in point.

Two of the five homes failed to sell at auction. One didn’t even attract a bid.

But auction clearance rates in our capital cities are doing better.

Cotality reports auction clearance rates over the past two weeks are at about 72% – much higher than the clearance rate of 59.50% this time last year.

Notably, these high clearance rates are being achieved despite more homes being listed for sale at auction than any other time over the past 18 months

Now, auctions can be daunting because so much is uncertain – the number of bidders, the reserve price and, of course, the final selling price.

Below we’ve outlined five steps you can take to bring a bit more certainty to the auction.

1. Know your borrowing power

Having a firm idea of how much you can borrow can form the foundation of your buying plans.

Forget the online calculators that ask broad questions – and provide broad results that may not be accurate.

We’ll take the time to get to know you, your circumstances and your goals, and let you know for sure what your borrowing power looks like.

2. Set a buying budget

In the excitement of buying a home it’s easy to overlook other upfront costs – anything from stamp duty to mortgage transfer charges or loan application fees.

We can explain the upfront costs you should plan for.

This can help you set a buying budget, and reduce the risk of hidden costs that could derail your purchase.

3. Have your home loan pre-approved

Pre-approval means a lender has agreed to provide you with a home loan up to a certain limit, subject to certain conditions.

And that can be important when you’re buying at auction.

You’d either be very brave or very cashed up to consider bidding at an auction without the backing of home loan pre-approval.

The beauty of pre-approval is that it can help you set a firm upper bidding limit – and give you the confidence to bid up to that limit.

Talk to us about loan pre-approval as soon as you’re ready to start searching for your new home.

4. Get your legal rep to review the contract of sale

“It’s a standard contract” is an assumption that can easily catch buyers out.

If you’re the winning bidder at an auction, there’s no backing out. You don’t get a cooling off period .

So you need to be absolutely sure what you are agreeing to buy.

That’s why it’s important to have the sale contract reviewed by your solicitor or conveyancer before auction day rolls around.

5. Do all the normal pre-purchase checks

Don’t simply assume a property you’re interested in buying is in great condition.

Sure, a pre-purchase pest and building report, or a strata report (if you’re buying an apartment or townhouse) is another cost to wear.

However, it can be an investment that protects you from unexpected (and unwanted) future repair bills that could cost you a lot more.

Call us before auction day arrives

In today’s hot property market, sale by auction can be very attractive to sellers.

All aboard! The affordability of just one extra train stop

Thu, 23 Oct 2025 00:34:38 GMT

What’s one extra stop?

If you’ve just boarded the home buyer express, chances are ‘value’ is high on your list of neighbourhood must-haves. Well, it turns out that house hunters who are happy to stay on the train for just one more stop can be rewarded with savings totalling hundreds of thousands of dollars.

When you’re house hunting, it’s not uncommon to want to snag a bargain.

One possible solution? Check out the local rail map.

New research by PropTrack shows house hunters could save hundreds of thousands of dollars simply by looking at suburbs one extra train stop from the city.

Staying on track in the hunt for an affordable home

Steadily rising property prices mean one-in-three property markets across Australia now have median home values of $1 million plus.

But this doesn’t have to derail your home-buying plans.

PropTrack data reveals “dozens” of suburbs across our state capitals where buyers heading to the next station down the line can find more affordable houses.

How much more affordable?

In many areas, an extra train stop could result in six-figure savings – and in one case seven-figures – all for only a few more minutes on the daily commute.

Of course, the train station theory isn’t failsafe.

Some trains terminate in high-value suburbs. In other neighbourhoods, popular schools or nearby beaches can boost values.

But as we’ll explore below, there are many suburbs around the country where there are savings to be found.

Sydney

As the nation‘s most expensive market, finding value in Sydney is challenging. But the train station theory can help.

According to PropTrack, the biggest savings can be found in Sydney’s southern suburbs. Buyers can pay a median value of $1.75 million for a house in Como – and save a whopping $747,500 compared to neighbouring Oatley ($2,497,500).

In the city’s inner west, buying a house in Ashfield (median $2.2 million) can deliver a saving of $300,000 compared to adjacent Summer Hill ($2.5 million).

Melbourne

Across Melbourne, the biggest savings for an extra train stop are found in Caulfield, where the median house price of $1.87 million is a thumping $1,121,250 less than neighbouring Malvern’s median of $2,991,250.

Pascoe Vale buyers who pay the suburb’s median house value of $1.049 million, can save $519,000 compared with those looking one stop closer to the city in Strathmore (median $1.568 million).

Brisbane

The Brisbane suburb of Corinda (median house price $1.22 million) is only one station further along from Sherwood ($1.722 million). Yet for a few more minutes on the train, buyers can save around $502,000 on the average price of a house.

Or buyers could save $350,000 purchasing in Murarrie (median value $1,187,500) instead of Cannon Hill ($1.55 million).

Adelaide

Many of Adelaide’s beachside suburbs are on the city’s western train lines, and the waterfront appeal can see property prices rise despite being further from the CBD.

However, there are suburbs where a single train stop can reward home buyers with big savings.

The most significant price difference is found in Claren Park (median of $1.2 million), which is $311,000 cheaper than neighbouring Goodwood ($1.511 million).

Home buyers looking at more affordable locations can save $217,000 buying in Tonsley (median $675,500) compared to adjacent Mitchell Park ($892,500).

Perth

Okay, Mosman Park (median house value of $2.4 million) is at the higher end of the price range. But it’s separated by just one train stop – and $662,500 – from neighbouring Cottesloe (median $3,062,500).

For more affordable homes, buyers opting for Clarkson ($730,000) could save $220,000 compared to jumping off the train at Currambine ($950,000).

Talk to us when you’re ready to buy

PropTrack’s research shows you don’t have to buy a train wreck of a home to score great value.

What matters is that you research the prices of areas you’d like to buy in – and maybe cast your net a little wider.

When you’re ready to buy, we’ll cast our net far and wide to find a mortgage that matches your needs.

Bank of Mum and Dad stumps up $40,000

Wed, 15 Oct 2025 23:03:55 GMT

Rest assured, there are other options, too

They say there’s nothing quite like a parent’s love. Well, perhaps except for a parent’s love plus an extra $40,000 to help buy your first home. Today we’ll look at the pros and cons of family support – plus other ways to buy a first home that give mum and dad a break.

Saving a first home deposit can be an endurance test.

Nationally, it takes an average of 5.6 years to save a 20% deposit .

The catch is that deposits tend to grow slowly, while property prices can rise quickly. In the past 12 months alone, home values have climbed 4.8% .

For first home buyers, the goal posts can seem to be constantly shifting outwards.

Enter the Bank of Mum and Dad.

Research shows close to one in three (29%) home owners with a mortgage received financial help from their parents – about $40,000 on average.

But without careful planning, the generosity of parents won’t always get first home buyers over the line for a home loan.

Here’s what else you need to know.

Even a modest helping hand makes a difference

Of course, not every family has a spare $40,000 to hand out.

And that’s okay.

Even small sums – for parents who can afford it – can give first home buyers a valuable edge.

That said, it’s worth talking to us at an early stage about the type of support families can provide first home buyers.

Because not every well-meaning offer of help will fast-track a first home.

Hidden traps of the Bank of Mum and Dad

Parents can help first home buyers in a variety of ways – something as simple as letting adult kids live at home for longer can make a significant difference.

When cash payments are part of the picture, three points are worth noting:

A ‘gift’ may need to be declared in writing: a lender may ask for written evidence that a cash gift is exactly that – a no-strings-attached payment that mum and dad don’t expect to be repaid.
A loan from parents could reduce borrowing power: some parents may prefer to loan their adult child money to help with a first home purchase. If that sounds like you or your parents, it’s important to speak with us first. Some lenders may look on a loan from parents as an informal personal loan, and the required repayments could lower a first home buyer’s borrowing power.
Evidence of regular saving is still essential: support from the Bank of Mum and Dad doesn’t eliminate the need to save for a deposit. Lenders typically want to see evidence of regular saving, often spanning three to six months. This savings track record shows a first home buyer has the discipline to manage home loan repayments.

Helping hands that don’t involve mum and dad

Parents always want the best for their kids.

However, no one benefits if parents jeopardise their own financial wellbeing to give their adult children a leg-up into the property market.

If parents cannot, or choose not to, offer children financial support buying a first home, there are other options to consider:

– The 5% deposit Home Guarantee Scheme: this scheme lets first home buyers get into the market with just a 5% deposit and zero lenders mortgage insurance. Recent changes to the scheme mean it now comes with unlimited places and increased property price caps.

– The First Home Super Saver Scheme: this allows first home buyers use their super to grow a first home deposit. It’s estimated the scheme can see first home buyers save a deposit around 30% faster than a standard savings account.

– Co-buy with siblings or friends: sure, it’s not for everyone. However, by teaming up with a sibling or mate you can boost your buying power and share costs. We can explain the home loan options if co-buying is something you’re thinking of.

Talk to us to get the ball rolling

Buying a first home may not be easy. And not everyone has parents who can help give them a leg-up into the property market. But there are many different strategies that can help first home buyers.

Contact us to understand all the options open to you – you could be ready for your first home loan sooner than you think.

What are the chances of another rate cut this year?

Wed, 08 Oct 2025 23:18:47 GMT

Who doesn’t love a rate cut?

The Reserve Bank has the cash rate in a holding pattern, and several of the big banks have scaled back their predictions of another cash rate cut in 2025. Here’s what it could mean for your home loan.

It looks like the rate cut party may have come to an end – for 2025 at least.

After leaving rates on hold in September, the Reserve Bank of Australia (RBA) is taking a wait-and-see approach, taking the time to gauge how the earlier rate cuts in February, May and August are flowing through the economy.

The RBA’s strategy, coupled with a return to higher inflation in October, has seen plenty of economists talk down prospects of further rate cuts this year.

Let’s unpack what’s happening and how your home loan could be impacted.

The big banks push back predictions of rate cuts

There’s a growing view that we’ve seen the last of rate cuts for 2025.

NAB has backtracked on earlier predictions of possible rate cuts in November and February, and now expects the cash rate to stay on hold until May 2026.

The Commonwealth Bank has also shelved expectations of a November rate cut. It says we’re unlikely to see a drop in the cash rate before February next year.

ANZ no longer expects further rate cuts in 2025, instead pointing to February as the “next plausible option”.

Westpac alone is holding the flag for a possible 0.25% rate cut in December (just in time for Christmas – wouldn’t that be good!).

Why wait ‘til 2026?

These forecasts may be a bit of a downer for homeowners hoping to land a lower rate for the festive season.

But here’s the thing.

We’ve seen plenty of action in the mortgage market lately, and it may not be necessary to wait until the New Year to save with a lower home loan rate.

You may be able to make a rate cut of your own a lot sooner.

Lenders cut rates in a competitive market

According to Mozo, September saw several lenders cut their variable rates despite no change to the cash rate that month.

Mozo says the average borrower with a $660,000 loan could save around $100 per month, or $1,195 annually, by switching from a home loan with a rate of 6.10% to one costing 5.85%.

It’s a strong cue to check the rate you’re currently paying.

Especially as Canstar says a competitive rate for owner occupiers right now is 5.25%.

Could you give yourself a rate cut?

If you’ve had your hopes pinned on more rate cuts this year, it could be time for a rethink.

Instead of holding out for the RBA to cut rates again, another possible strategy is to take control of your own home loan rate.

Separating? Understand your home loan options

Wed, 01 Oct 2025 23:16:19 GMT

Loans, like love, can be complicated

Nicole Kidman and Keith Urban are making headlines, having reportedly called time on their 19-year marriage. If you’re also facing a relationship break-up, it’s important to know where you stand on practical issues, such as how to hold onto the family home, if that’s your goal.

While Keith and Nicole are likely to have a multi-million dollar property portfolio to divvy up, most Australians have just one family home.

That doesn’t necessarily make matters less complicated, especially as our home tends to be the jewel in the crown of household assets.

Some couples choose to sell their home, pay off the mortgage and go their separate ways.

However, if you want to hold onto the family home, the situation may be more complex.

Determining your home’s value

Unless you and your ex plan to sell your home to a third party as part of your separation (which will very quickly tell you exactly what the place is worth), the first step is to get a clear idea of the property’s value.

Knowing the current market value of your home can let you know how much you owe your ex if you plan to buy them out. Or alternatively, it can clarify how much you are owed if your former spouse wants to buy out your stake in the family home.

A local real estate agent can provide a market appraisal. But the figure you’re quoted has no legal standing, and the agent may bump up the value if they believe a listing could be on the cards.

There are websites that offer free valuations . However, these may not be entirely accurate as they are based on past property sales, which may not reflect your home’s value.

The most accurate way to know what your home is worth is by arranging a formal valuation by a licensed valuer.

This will likely come at a cost but the upside is an independent and accurate valuation of your home.

Funding your home if it’s still under mortgage

If you’re keen to hold onto your home, you’ll need to work out how to fund it if the property is still under mortgage.

You can’t normally just take over the repayments on a mortgage if the loan is held in your former spouse or partner’s name. And frankly, this would involve a leap of faith by your ex as any missed repayments could impact their credit score.

So it may be necessary to apply for a loan of your own.

As your broker, we will walk you through the process. A key factor that lenders will consider is: will you be able to manage regular loan repayments?

If you are earning a wage or salary, or relying on Centrelink benefits, spousal maintenance or even child support payments to help meet the mortgage, you’ll likely be asked to provide evidence of this income.

Alternatively, you may be able to refinance your current home loan so that it is held in your name only.

There are a variety of options available – speaking to us at an early stage can help you select the option for your situation.

Separation is a time for support and guidance

Amid the raw emotions of a break-up, it’s important to have support and guidance from trusted professionals.

In some areas, a lawyer may be your first port of call. In others, such as finance, we’re here to help.

So if you’re facing the end of a relationship, get in touch today for a clearer idea of your home loan options. It could help you start the next phase of your life.

99% of brokers have helped their clients secure a lower rate

Wed, 24 Sep 2025 22:17:42 GMT

Are you paying too much on your home loan?

Switching to a new home loan might sound like a hassle. But new research shows brokers don’t just make refinancing easier, they can also help home owners secure a lower interest rate – and much more.

A string of rate cuts this year has helped drive a sizeable uptick in the number of Australians refinancing their home or investment loan.

The June quarter saw a 24% jump in the number of home owners refinancing to a new lender compared to the same quarter last year, according to the ABS. And the number of investment loans refinanced rose by 15%.

Switching to a new loan could see you enjoy a raft of benefits – from a lower loan rate through to improved loan features.

And the benefits of refinancing can really ramp up when home owners partner with a broker, new research from the Mortgage and Finance Association of Australia (MFAA) shows .

99% of brokers have secured a discount for borrowers

Who doesn’t love paying less for things?

When it comes to your home loan rate, even a small discount can add up to serious savings on your home loan repayments and long-term interest costs.

The good news is that a recent MFAA survey found a whopping 99% of brokers have recently helped their clients secure a discount.

That’s no surprise to us. As brokers, we work hard to help you land a competitive rate.

And, as brokers work with an average of 23 different lenders , you can be confident we have conducted a thorough search to identify the loans that tick the boxes for your home loan needs.

92% of brokers have helped clients refinance for the first time

Like anything in life, if you’re thinking of refinancing for the first time, the process can seem daunting.

We aim to make it as streamlined as possible.

According to the MFAA, 92% of brokers have helped first-time refinancers. If that sounds like you, rest assured, we take the time to explain how refinancing works, the potential savings in interest you could make, and the timeframe for your new loan to be in place.

Better still, we can liaise with your old – and new – lender to help ease the burden of the whole refinancing process.

97% of brokers have clients who return year after year

Nothing says “customer satisfaction” like a repeat client.

97% of brokers have numerous home owners who keep coming back to them each time they need home loan help, the MFAA survey found.

It’s a testament to the difference brokers can make to your home loan journey – from your first home loan, to your next, right through to an investment property loan and/or refinancing.

So if you’d like to start your journey with us – or take the next step – contact us today and we’ll be happy to help you out.

Countdown to be in your new home by Christmas

Thu, 18 Sep 2025 00:51:21 GMT

Is a new home on your Christmas wishlist?

The clock is ticking towards the festive season, and home buyers still have a small window of opportunity to be settled in their new place by Christmas Day. The good news is that a broker can help you get there.

A quick visit to the supermarket shows that shelves are already stocked with festive fare (believe it or not!).

It’s a sure sign Christmas is getting closer. Just 14 weeks away, in fact.

As it can usually take anywhere from four to 12 weeks to settle on a new home, time is of the essence for home buyers hoping to celebrate the holiday season in their new home.

Of course, a home purchase should never be rushed.

But having all your ducks in a row can be the difference between waking up on Christmas morning in your new place, or facing settlement delays because key service providers have shut up shop for the summer holidays.

Here are five ways a broker can help you be in your new home by Christmas.

1. We’ll explain your borrowing power to get the ball rolling

Before heading out to open home inspections, set a date to talk to us first.

We can give you a clear idea of your borrowing power.

This is an important first step.

It tells you how much you can borrow, so you can focus on properties within your price range.

2. We’ll help you find a loan and lender for your needs

A home loan is a major financial commitment, and you need to be confident your loan is suitable for you, your budget and your lifestyle.

That’s why we take the time to understand you and your goals.

From there, you can leave the home loan search to us, confident in the knowledge that we’ll only look at loans that tick the boxes for your needs.

Of course you always have the final say in your choice of home loan, but by narrowing down the loan selection for you, we can give you more time to find your dream home.

3. We can arrange home loan pre-approval to help avoid settlement delays

There are good reasons to have your home loan pre-approved – especially at this time of year.

Pre-approval helps set a buying budget. It gives you serious clout when it comes to price negotiations.

And pre-approval is also helpful if you’re buying at auction.

It lets you bid with confidence up to a known limit, and that’s especially valuable in the current market, with Cotality reporting the highest levels of homes going to auction since June 2025.

Importantly, pre-approval can help speed up the pathway to unconditional loan approval. That’s because your lender has already done most of the groundwork involved in your loan application.

Long story short, having your loan pre-approved can be a strategy to help avoid unwanted delays.

4. We can help you put together a team of experts

Along with a broker and a lender, you’re likely going to need the support of other experts, in particular, a solicitor or conveyancer, who will review the contract of sale and complete the settlement process.

It can be a good idea to have your legal team lined up before you sign a contract. That way, the settlement process can kick off from the date of exchange of contracts without delay.

We can tap into our professional network to put you in touch with reputable service providers.

This can save you the hassle of phoning around trying to line up different professionals when the countdown has begun for the festive season.

5. We’ll manage your loan application right up to the finish line

Preparing for Christmas can be stressful enough. Let alone moving house during the festive season.

So it’s reassuring to know we can remove an extra layer of stress by liaising with your home loan lender all the way to loan settlement.

As we work closely with a variety of lenders, we’re well-placed to manage the mortgage process.

We know the decision-makers to speak with, and we will monitor your loan application from start to finish.

Is a new home on your Christmas wishlist?

Completing a home purchase in time for Christmas is a great feeling.

Knowing you have your new home sorted and your loan in place can let you relax and enjoy the festive season, pop the cork on a few bubbles, and look forward to 2026 in your new home.

Jump into the market up to 4 years sooner with 5% deposit scheme

Wed, 10 Sep 2025 23:45:21 GMT

Could you be ready to buy now?

If you’re like most first home buyers, you’ve probably realised by now that saving up for a 20% deposit can be a real slog. But what if we told you that you now only need a 5% deposit? And better yet, you could already have that amount ready to go now.

Saving up a deposit to buy a first home can be the equivalent of running a financial marathon.

It takes around 5.6 years for the average Australian family to save a 20% deposit, according to PropTrack (and potentially even longer, depending on where you want to buy).

But here’s the rub.

Home prices don’t stand still while you’re growing that all-important deposit.

Rising property prices can push the goal posts further out of reach no matter how hard you save.

The good news is that the recent expansion of the popular Home Guarantee Scheme (HGS) is expected to reduce the time taken to save a deposit by up to four years , says Housing Industry Association (HIA) Senior Economist Tom Devitt.

Our back-of-the-napkin maths says that means it could now take first home owners just over 18 months to save for a first home deposit – and many on their savings journey might already be there.

What is the Home Guarantee Scheme?

The HGS is designed to help first home buyers buy a place of their own sooner .

Unlike, say, the First Home Owner Grant , which sees eligible first home buyers receive a one-off payment, no money changes hands with the HGS.

Instead, it works by letting first home buyers purchase a place with just a 5% deposit , while the federal government guarantees the remaining 15%.

This provides lenders with security equal to a 20% deposit, meaning home buyers don’t need to pay lenders mortgage insurance (LMI) – which is usually not a small amount.

“First home buyers pay between $25,000 and $30,000 in LMI to purchase an average home,” explains the HIA’s Mr Devitt.

In this way, first home buyers can now get into the market with a smaller deposit while also saving on upfront costs.

Unlimited places, higher home price caps from 1 October 2025

The federal government recently announced important changes to the HGS.

From 1 October 2025, the scheme will be open to all Australian first home buyers .

There will be no limit on the number of people who can apply each year.

Income caps will be scrapped, allowing first home buyers with higher incomes to access the scheme. And property price thresholds will be raised to help home buyers where home values have increased.

The bottom line, according to the HIA, is that these changes to the HGS could see first home buyers buy a place of their own four years sooner on average.

How we can help you buy your first home

If you’re a first home buyer, the stars may finally be aligning.

Our job is to help you make the most of every opportunity to buy a home of your own.

Not all lenders have signed up to the HGS.

So talk to us to find out which loans and lenders are part of scheme and get the ball rolling on your first home.

5 steps to help you find a competitive edge this home-buying season

Wed, 03 Sep 2025 22:08:28 GMT

Been house hunting lately?

Spring is traditionally the peak season for property, and three rate cuts this year could further fuel buyer competition. Check out five steps that can give you a valuable head start this spring.

The combination of warmer weather, blooming gardens and the chance for buyers to be settled in their new home by Christmas makes spring one of the most popular periods for home buyers.

This spring is set to be no different.

Some experts are even predicting that the August rate cut could ignite the spring property market and intensify buyer competition.

Here’s how you could give yourself a competitive advantage this spring.

1. Set a date to talk with us

No matter whether you are a first-home buyer or upgrading to your next home, recent months have seen plenty of changes in the mortgage market.

Three rate cuts in 2025 have likely changed your borrowing power, and it is critical to know how much you could borrow so that you can establish a home buying budget.

Wasting time looking at homes you cannot afford can mean missing out on your ideal property.

Bottom line: set a date to meet with us to know where you stand in terms of your home loan readiness and personal borrowing power.

2. Consider home loan pre-approval

Having your home loan pre-approved before you even start heading off to open home inspections can give you a real edge.

Pre-approval provides reassurance that you can secure funding up to a set limit.

This means you’re well-placed to make a strong initial offer, or bid at an auction, knowing exactly what your upper price limit looks like.

Loan pre-approval also lets you act quickly when you see a place you want to buy. This alone can put you in pole position ahead of less organised buyers.

3. Look beyond open homes

In a fast-moving spring market, some homes will be sold before they’re even publicly advertised.

That’s why it can pay to connect with local real estate agents or a buyer’s agent and let them know your buying budget (home loan pre-approval will clarify this).

That way, they can let you know about any off-market opportunities – homes that haven’t yet been openly listed for sale.

Hot tip: don’t be afraid to let selling agents know you have loan pre-approval. It shows you are a serious buyer.

4. Understand the buying process

No matter whether you’re a first-time buyer or a seasoned home owner, the home buying process can seem confusing.

We can give you a clear understanding of how it all works and the steps involved.

The more you know, the better placed you can be to act quickly when the right property comes along.

5. Build your team of specialists

They say it takes a village to raise a child.

But it can take a team of specialists to buy a home.

Along with an experienced mortgage broker, you’ll likely need a lawyer or conveyancer for the legal aspects of your property purchase, maybe a buyer’s agent to track down suitably priced properties, and a building/pest inspection service that can act fast to examine a property when you’re ready to make an offer.

Having all your team members ready to go can shave valuable time off the buying process, and let you beat other buyers to the finish line.

We can help put you in touch with our trusted network of specialists if you wish.

Moving fast could mean price savings

While no property purchase should be rushed, being organised – and bringing forward your home buying plans – could see you save on price.

Analysis by PropTrack shows that September home buyers typically pay 0.23% less for a home than the average price throughout the year.

Delay buying until November, and you could pay 0.78% above the average price.

It’s a great incentive to follow our five steps and head into the spring market ready to go, and bursting with confidence.

5% deposit scheme expands early – will it increase house prices?

Thu, 28 Aug 2025 00:35:47 GMT

Looking to buy your first home?

The popular Home Guarantee Scheme that lets first home buyers get into the market with just a 5% deposit has been expanded sooner than expected. But an unexpected twist means first home buyers may want to bring forward their buying plans.

The Home Guarantee Scheme (HGS) allows first home buyers to buy with just a 5% deposit – and not pay lenders mortgage insurance.

At present, the HGS is only available to first time buyers who meet various conditions around personal income and the price they pay for their home. There are also annual limits on the number of buyers who can access the scheme.

The HGS was due to be expanded in 2026 to allow all first home buyers to buy a home with as little as a 5% deposit.

This week saw these changes brought forward to 1 October 2025.

It’s great news for first home buyers who may not previously have been eligible for the HGS. However, as we’ll see, it could also be the cue to bring forward your buying plans.

How the 5% deposit scheme works

As home prices rise , it’s no mean feat pulling together the funds needed for a 20% deposit.

So it’s no surprise the HGS has proven very popular.

Since launching in 2020, the scheme has helped more than 230,000 first home buyers enjoy the rewards of home ownership with a deposit as low as 5%.

While the HGS doesn’t involve a cash payment to first home buyers, it can help you save in other ways.

As the federal government guarantees part of your home loan, this waives the need for lenders mortgage insurance – a saving that can be worth tens of thousands of dollars .

How the 5% deposit scheme is changing

From 1 October, all first home buyers will have access to apply for the HGS.

The current caps on the number of places, and income limits, will be scrapped .

The scheme’s property price limits will also be set higher , providing access to a greater variety of homes.

In addition, the Regional First Home Buyer Guarantee will be replaced by the First Home Guarantee.

Minister for Housing Clare O’Neil says these changes are all about getting more people into their first home sooner.

Why consider bringing forward buying plans?

The early expansion of the HGS may provide a valid reason to bring forward your buying plans.

The Insurance Council of Australia says the expansion of the scheme could see house prices rise up to 10% in the first year alone in markets preferred by first home buyers.

Nationally, it predicts prices could rise 3.5-6.6%.

The logic here is that the expanded scheme may create more buyer demand in Australia’s already undersupplied housing market, thereby pushing up prices.

Talk to us to find out if you’re home loan ready

The reality is that no one can say for sure how home prices will rise in the future.

What we can say, though, is that most people find it more rewarding to pay off their own home than they do their rent.

Remember too, you can still apply for the HGS before 1 October, as long as you meet the income caps and current property price limits.

Talk to us today to see if you could buy with a 5% deposit. You could be home loan ready right now!

Surge in switching: 1,000 home loans refinanced every day

Wed, 20 Aug 2025 23:34:22 GMT

Thought about switching things up?

Three rate cuts since February have spurred home owners to take a closer look at their home loan. Turns out plenty have found a loan better suited to their needs elsewhere, with 100,000 home loans refinanced in the past quarter.

It’s not every day we do a double-take looking at lending numbers.

But it happened this week, with the latest ABS data revealing an astonishing 1.26 million home loans have been refinanced over the past three years.

A rise in refinancing kicked off when the Reserve Bank of Australia (RBA) hiked rates across 2022 and 2023.

Now that rates are on the way down , home owners are just as eager to switch.

Almost 100,000 mortgages were refinanced in the June 2025 quarter. That’s just over 1,000 home loans daily – the highest level since September 2023.

Here’s why Australians are refinancing in such large numbers.

The potential to save on loan interest, lower repayments

The RBA has handed home owners savings on a platter in recent times, with three rate cuts totalling 0.75% so far this year.

But home owners hungry for more have the potential to unlock extra savings.

Canstar has crunched the numbers , finding that a borrower with a $600,000 loan could save more than $12,000 over the next two years by switching to a lower-rate loan.

This assumes the borrower hasn’t renegotiated their rate in the last three years. But that’s not unreasonable.

Meanwhile, a Finder survey shows more than one-in-two home owners have no idea what rate they’re currently paying.

A chance to access home equity

Refinancing may offer more than rate savings.

Switching to a new loan could be an opportunity to tap into the equity built up in your home. And you could have a lot more equity than you realise.

Home values nationally have risen 45% in the last five years , and are 65% higher than they were a decade ago.

So if you need funds for a variety of purposes – from renovating your home, to paying for the kids’ education, to investing in a rental property – refinancing may offer a lower-rate solution.

A loan better suited to your needs

Switching to a new home loan may also be a chance to access improved loan features.

Maybe you’re keen to take advantage of an offset account or split your loan between fixed and variable rates.

If your current loan doesn’t offer these or other features such as a redraw facility, it could be worth looking into refinancing.

Leave the legwork to us

More than a hundred thousand families have benefited from refinancing in the last quarter alone.

The longer you put it off, the longer you may keep paying your old rate.

Third rate cut delivered this year as RBA trims cash rate to 3.60%

Tue, 12 Aug 2025 06:53:29 GMT

More financial relief on the way for families

Borrowers around the country have been delivered a sunnier financial outlook this month after the Reserve Bank of Australia (RBA) today trimmed the cash rate by another 25 basis points to 3.60%. How much could your monthly mortgage repayments decrease?

After last month’s unexpected hold, the RBA this month went with market expectations and delivered its third cash rate cut in 2025 in an attempt to ease cost-of-living pressures on Australian families.

RBA Governor Michele Bullock said in a statement that the Board unanimously decided to cut the cash rate by 25 basis points as underlying inflation continued to decline back towards the midpoint of the 2-3% target range.

How much could you now save on your mortgage repayments?

Unless you’re on a fixed-rate mortgage, hopefully your bank will soon follow the RBA’s lead and decrease the interest rate on your variable home loan.

For an owner-occupier with a 25-year loan of $500,000 paying principal and interest, this month’s 25 basis point rate cut means your monthly repayments could decrease by about $76 a month.

That would put $912 a year back into your household budget.

If you have a $750,000 loan, your monthly repayments will likely decrease by about $114 a month – or $1368 per year.

Meanwhile, a $1 million loan could decrease by about $152 a month – or $1824 a year.

This all assumes that your lender automatically passes on the full 25 basis point cut to your home loan.

Another thing to consider is that not all lenders automatically reduce variable home loan repayment amounts in line with rate cuts.

Some lenders simply maintain your repayment amount at the old level. It’s just that more of your money goes towards paying off the principal (rather than the interest) each month. But you can ask them to reduce your repayments in line with their cuts.

To find out what your lender is doing with your loan, get in touch with us in a few days once the dust has settled.

Still feeling stress from your mortgage?

Even with this latest rate cut, many Australian families are still grappling with living costs and interest rates that are higher than when they first took out their home loan.

If that includes you, now could be a good time to check in with us for a home loan health check.

You might be able to improve your situation by either renegotiating with your current lender, refinancing to another lender, or through debt consolidation.

Whatever your situation, we’re here to help you explore your options.

Skipping pre-approval sees 1-in-10 first home buyers miss out

Wed, 06 Aug 2025 23:32:51 GMT

Here’s how pre-approval can help level the playing field.

Buying a first home isn’t always easy, and first-timers sometimes miss out on a place they’ve set their heart on. But more than one-in-ten first-time buyers have missed out simply because they didn’t have home loan pre-approval.

Buying a first home can be an emotional roller coaster. It’s not unusual to find a property you love, only to lose out.

A Finder survey shows three-in-five first home buyers have been beaten to homes – usually because they’ve been outbid by a competing buyer.

There’s not a lot you can do about another buyer having deeper pockets.

But there are steps you can take to potentially give yourself a strategic advantage.

One of them is having home loan pre-approval.

Yet Finder reports more than one-in-ten (11%) first home buyers lost out on a home because they didn’t have pre-approval in place.

Here’s why pre-approval can give you a competitive edge.

What is home loan pre-approval?

Home loan pre-approval involves applying for a home loan before you begin house-hunting.

It’s a chance for a lender to check out your details (such as your income, deposit and savings record), and give you the thumbs-up for a loan to a certain price limit.

Think of it as you and your lender both swiping right on each other.

Pre-approval shouldn’t cost you anything. And you’re not committed to take out the loan.

But it can be very reassuring to know you’re good for finance when the right property comes along.

As the lender specifies how much you can borrow, pre-approval also helps set a buying budget, and lets you confidently negotiate on price or bid at auction.

The risks of skipping loan pre-approval

Of course, you can choose to apply for a loan after you’ve found a home to buy.

It can be a more high-stakes approach, and leaving things this late can put you at a disadvantage.

Lenders usually need time to review your application and decide if you qualify for a loan – and how much you can borrow.

That time gap could see a more organised buyer jump in and beat you to the finish line if time is a factor for the vendor.

There’s also the risk of overestimating your borrowing power (that said, we can help you work that out without going through formal home loan pre-approval).

Long story short, while loan pre-approval is not compulsory, it can be a smart step that lets you act fast – and with confidence – and it tells sellers you’re a serious contender for the property.

The fine print on home loan pre-approval

A few finer points of home loan pre-approval are worth knowing:

1. Pre-approval comes with a time limit: loan pre-approval doesn’t last indefinitely . In most cases, pre-approval extends for three to six months depending on the lender. Don’t let this rush you. We can help you reapply for pre-approval if that time lapses.

2. Pre-approval is based on your circumstances when you apply: life doesn’t stand still for long. If your circumstances change after receiving home loan pre-approval, let us know and we can talk to your lender to update your pre-approval.

3. Not all lenders offer home loan pre-approval: every lender is different. And some choose not to offer loan pre-approval. We can save you time by explaining the lenders that offer pre-approved home loans.

Get in touch for more information

If you’re not sure where to begin with home loan pre-approval, contact us today.

We can guide you through the steps involved, and explain how home loan pre-approval could help you beat other buyers to the punch.

How your home can help your kids get a great education

Thu, 31 Jul 2025 00:45:41 GMT

Got your eye on a school’s catchment area?

Location, location, location. Or should we say: education, education, education. New research shows homes in the catchment areas of sought-after public schools can command six-figure price premiums. Here’s why.

Your home can be much more than a roof over your head. It’s also an investment that may build personal wealth and serve as a form of disciplined saving.

And a new analysis by Cotality (formerly CoreLogic) shows our homes can also play an unexpected role, such as helping our kids enjoy a decent education.

Families pay 6-figure premiums for homes in popular catchment zones

Cotality recently looked at property values inside high-performing public high school catchment zones in Sydney and Melbourne.

It found what families around Australia have probably long suspected – that homes located inside catchment areas for popular public schools can command 6-figure premiums compared to similar properties outside the school zone.

The willingness of families to pay more isn’t just about the kids being able to walk to school.

Cotality says that while the price premium within popular public school zones can top $100,000, this can still see families saving money when compared to paying for private schooling over many years.

Better still, unlike school fees, which tend to rise over time, mortgage repayments often decrease in real terms due to inflation.

3 ways your home (and home loan) could help with school costs

Pulling up stumps and moving to a new home within a particular school catchment isn’t for everyone.

Fortunately, there are other ways your home and mortgage could help fund a quality education.

Here are three strategies you could consider.

1. Pay for school fees using an offset account

An offset account is an at-call account linked to your home loan.

Instead of earning separate interest on the offset account, the balance is deducted from (or ‘offset’ against) the value of your home loan when loan interest is calculated.

If you have, say, $50,000 in the offset account, and a mortgage of $600,000, loan interest will be based on a balance of $550,000 instead of $600,000.

In this way, an offset account can help you achieve two goals – providing a secure place to grow savings for your child’s education, while also helping you get ahead with your home loan.

2. Tap into home equity

Home equity – the difference between the current market value of your home and your loan balance – can be put to work to achieve a variety of personal goals.

With almost half (44.8%) of all suburbs across Australia now at record high values , you could have more home equity than you realise.

One way to use equity is to request a loan top-up from your lender. We can explain what’s involved for your specific circumstances

In general though, the decision to tap into home equity should be a cue to review your home loan.

Refinancing to a new loan could see you save with a lower rate or access improved loan features – all while freeing up equity to pay for a place in the school of your choice.

3. Invest in a rental property

A rental property may also help pay for your child’s education.

Your tax advisor or accountant can explain if an investment property is a suitable choice for you.

Broadly speaking though, the regular rent you receive, plus possible tax savings from negative gearing , and a rise in the property’s value over time (which can generate more equity to use) all have the potential to help you fund school costs down the track.

Alternatively, you could also consider rentvesting.

This can allow you to buy a more affordable property that’s outside your desired school’s catchment area, while renting a home to live in inside the catchment area.

Keen to learn more?

Paying education expenses can be challenging. But let’s face it, so can a mortgage if you overextend yourself.

That’s why it can be important to assess your borrowing capacity before you go house hunting.

We can help you work out how much you can comfortably borrow, which in turn, can help you buy a home in the catchment area of a school that you’d like to send your kids to.

Newly built homes notch up strongest sales in 3 years

Thu, 24 Jul 2025 00:34:24 GMT

Ever thought of buying or building your own new place?

There’s a lot to love about buying a brand new home, and sales of recently constructed homes have increased 19% over the last quarter. We look at the pros and cons of buying a new home – and the financial incentives available to new home buyers.

Fresh paint, spotless floor coverings and shiny new appliances. It’s easy to see the appeal of newly-built homes.

And it turns out a growing number of Australians are choosing new homes.

The Housing Industry Association says sales of new detached homes rose 18.8% in the three months to June 2025 compared to the previous quarter.

It’s the strongest new home sales in almost three years.

Despite new homes having loads of appeal, they can come with downsides.

Here’s what to weigh up.

The pluses of buying a newly built home

The word ‘new’ says it all.

As a new home buyer, everything in your property is squeaky clean – no outdated appliances, no dodgy décor – just a shiny new home built with modern lifestyles in mind.

That’s not the only upside.

A new home can offer other advantages:

– Energy efficiency: new homes must be built to a high standard of energy efficiency . It can make a new home more comfortable, and provide savings on utility bills.

– Lower repair/maintenance costs: buy a new home, and you can be fairly confident that repair and maintenance bills aren’t going to burn a hole in your wallet – in the early years at least. If repairs are required, the cost may be covered by the builder’s warranty.

– Opportunities to customise: if you build a new home, you may have the opportunity to alter the layout, fittings, finishes and colour palette to suit your personal preferences. It can cost a lot less to make these changes during construction compared to renovating an older home to your taste.

– High depreciation for investors: if you’re buying as an investor, a newly-built home can offer depreciation benefits, which could translate to tax savings.

Possible drawbacks of new homes

Property is usually a major purchase in your life. So it’s important to look beyond the appeal of a newly-minted home to decide if it’s right for you.

Points to weigh up include:

– The possibility of an outer suburban location: unless you decide to build on an in-fill site in an established suburb, newly built homes are most often found in outer suburbs.

This sort of location won’t suit everyone.

But if you can push past the growing pains of a new suburb (such as less established infrastructure), a freshly-built home may be more affordable than an established home in an inner suburb.

– You may have a stressful wait: with an older home, you can usually move straight in after settlement. Buying a new home can mean waiting for construction to be completed and signed off by council.

Anyone who’s watched Grand Designs can tell you the process can be extremely stressful, with building costs and timeline blowouts commonplace. You may also face delays and disputes when it comes to getting the builder to fix any defects.

All this can mean paying rent longer than expected – or living in a tiny trailer onsite, as so often happens on Grand Designs.

Government incentives for buying a new home

Buyers of new homes may benefit from savings on stamp duty and government incentives.

– First Home Owner Grant: this changes from state to state, so do your research here . But it is typically only available if you buy/build a new home (or in some states, a substantially renovated home).

– Stamp duty incentives: stamp duty is usually based on the value of a property at the time of purchase. This being the case, buying land first and building later can mean savings on stamp duty.

As home prices push higher, most Australian states including New South Wales , Victoria , Tasmania , Queensland and Western Australia , have made stamp duty concessions available to first home buyers, no matter whether you buy a new or established home.

First home buyers in South Australia still need to buy/build a new home to be eligible for stamp duty savings.

We can help explain your home loan options

Finding a loan that matches your needs depends on whether you are buying land to build on later, opting for a house and land package, or purchasing a newly constructed home.

Get in touch with us today to discuss your plans and we can run you through some funding options that could help you enjoy the benefits of owning a brand new home.

Has your borrowing power increased in 2025?

Thu, 17 Jul 2025 00:52:58 GMT

Here’s a few reasons why it might have

If you haven’t checked your borrowing power recently, it might be worth another look. A lot has happened in 2025, and your borrowing capacity could be higher than you realise.

It’s been a busy year on the money front.

Tax cuts, a couple of rate cuts, and reductions in HECS debts have all potentially been a plus for our financial wellbeing.

That’s not all that’s improved.

There’s a decent chance your borrowing power has enjoyed a boost, which could make now a good time to revisit your borrowing capacity.

What shapes your borrowing power?

Your borrowing power, or as lenders like to call it – your borrowing capacity – is the amount a lender will let you borrow to buy a home.

Each lender has their own way of calculating borrowing power.

But it mainly boils down to three things: your income, your household expenses, and any other debts you may have that’ll need to be repaid alongside a home loan.

The important thing to know is that your borrowing power isn’t set in cement.

It can change over time, and recent months have seen several events that are likely to have increased your borrowing capacity.

Here are 4 reasons why your borrowing power could be on the rise.

1. Interest rates have fallen

Two official rate cuts this year have helped to lower home loan interest rates.

This time a year ago, the average variable rate on new loans was about 6.3% . Today it’s closer to 5.8%.

Lower rates mean lower monthly home loan repayments. This flows through to higher borrowing power.

How much higher?

Canstar says the February and May rate cuts could have added $23,000 to the borrowing power of a single person on the average wage. A couple may have seen their borrowing power increase by $40,000-$45,000.

2. Tax cuts have kicked in

A year ago we were celebrating the arrival of Stage 3 tax cuts that put money back in our hip pockets.

Tax cuts can have another happy side effect.

Paying less tax can mean more after-tax income. This converts to higher borrowing power.

The uptick can be surprisingly generous.

According to Compare the Market, the Stage 3 tax cuts could mean a couple with no kids has seen a $47,000 increase in their borrowing capacity .

3. Wages are up

Around 2.9 million Australians received a pay rise from the start of July thanks to a 3.5% increase in the National Minimum Wage and award wages.

Even if you’re not covered by these wage rises, the boss may have agreed to give you a pay rise from 1 July.

Or a new job could see you earning more.

Talk to us to know how a bigger pay packet may have impacted your borrowing power.

4. Lenders are treating HECS-HELP debts differently

In the past, lenders have typically included student debt – that’s HECS-HELP loans – in their loan serviceability calculations.

In 2025 however, lenders have been given the flexibility to overlook HECS-HELP repayments as long as the outstanding student debt is close to being paid off.

If this sounds like you, your borrowing power may now be higher than you expect.

Steps you can take to potentially lift your borrowing power

Keen to boost your borrowing capacity further? It may be done by following some, or all, of the steps below:

Reduce regular expenses: lenders take household expenses into account when deciding how much you can borrow. Trimming back a few regular bills can make a difference to your borrowing power. Consider cutting back subscriptions for apps and streaming services, the gym, or shop around for cheaper power or phone plans.

Cut your credit card limit: lenders assess your borrowing capacity based on your card’s credit limit, not the outstanding balance. As a rough guide, every $10,000 of credit card limit can reduce your borrowing power by about $50,000 . If you’re not keen on cancelling a card altogether, consider contacting the card issuer to lower the credit limit.

Keep a lid on other debts: the more you can cut back other debts, such as personal loans or car loans, the higher your borrowing power can be. Sure, it’s not easy paying down debt. But keep your eyes on the prize – it could take you closer to buying your first, or next, home.

Get to know your number

Just because you can borrow more, doesn’t mean you should borrow more.

Even so, it’s always worth knowing your personal borrowing capacity – it’s a key number that can help you achieve your property goals.

Get in touch if you’d like to find out your current borrowing power.

We can share ways you can improve your borrowing capacity, and explain how you can make the most of it to apply for a loan that matches your needs.

Two-thirds of borrowers could save by refinancing: report

Thu, 10 Jul 2025 00:54:47 GMT

No RBA rate cut? No worries

Home owners hoping for rate relief in July may be disappointed, but it’s still possible to score a rate cut of your own by refinancing. Despite this, plenty of borrowers are sticking to an old loan – and it could be costing them.

When it comes to rate cuts, nothing is certain until the Reserve Bank of Australia (RBA) wraps up its board meetings.

We saw this in July, when a long line of pundits predicted a rate cut was almost a sure thing , only to see the RBA keep rates on hold due to concerns about an uncertain economic outlook.

The good news is this hasn’t stopped tens of thousands of home owners negotiate a personal rate cut by refinancing.

Refinancing ramps up in 2025

Recent figures from property settlement firm PEXA, show refinance volumes have rebounded , rising 12.5% over the year to March 2025 as borrowers chase lower rates.

That’s seen thousands of home owners land a rate cut of their own, with the Australian Bureau of Statistics reporting over 65,000 home loans were refinanced in the first three months of 2025 alone.

But it seems many are still missing out.

A survey by Compare the Market shows 65% people who’ve had the same home loan for 3-plus years haven’t refinanced.

And in today’s home loan market, a loan that was competitive back in the day may no longer be such a great match for your needs.

Why think about switching?

As we saw this month, there are no guarantees the RBA will bring future rate relief.

That’s why it can be important to take a front-foot approach by getting in touch with us to compare your home loan options.

This especially applies if you’ve had the same loan for several years, because there’s been plenty of action in the mortgage market lately.

Mozo reports that some lenders have introduced rate cuts on their own, others have held back on official rate cuts, and a growing number are offering fixed-rate options starting with a ‘4’ (now there’s something we haven’t seen for a while!).

Is refinancing right for you?

Loyalty is a great quality – just perhaps not when it comes to home loans.

Sticking with an old home loan can mean paying a higher interest rate than necessary, or missing out on improved loan features.

If you and your loan have been together a while, call us to see if your home loan is still suitable for your needs – and if not, we can help you find one that is.

Small deposit? 50,000 Home Guarantee Scheme spots just opened up

Thu, 03 Jul 2025 01:15:06 GMT

Struggling to grow your deposit?

Growing a 20% deposit isn’t just challenging. It can be a (very) long slog. Fortunately, 50,000 new places in the popular 5% deposit Home Guarantee Scheme just opened up on July 1. Here’s how to secure your spot.

Struggling to reach that seemingly mythical 20% milestone? You’re not alone.

Property exchange platform PEXA says it can now take buyers more than a decade to save up a deposit for a home .

Who’s got that sort of time?

This is where the Home Guarantee Scheme (HGS) can come in. It allows first home buyers to enter the market with as little as a 5% deposit.

The good news is that on the 1st of July, 50,000 new HGS places became available .

How the 5% deposit first home buyer scheme works

Instead of providing a cash payment, the HGS sees the federal government guarantee your home loan.

In this way, the HGS offers a chance to buy a place of your own with just a 5% deposit – and pay zero lenders mortgage insurance (LMI).

The savings on LMI alone can be worth tens of thousands of dollars.

The real clincher is that it can take far less time to save a 5% deposit compared to pulling together a 20% deposit.

And right now, time kind of matters.

Home prices are projected to increase by 5.8% over the next 12 months, according to CoreLogic .

HGS places are limited

Given the potential benefits, it’s no surprise that over 230,000 first home buyers have already taken advantage of the HGS to achieve their goal of home ownership.

However, only a limited number of HGS spots are available each year.

That’s why it’s so exciting to see the extra 50,000 places become available on 1 July.

These spots are spread across three different guarantees – 35,000 places for the First Home Guarantee, 10,000 for the Regional First Home Buyer Guarantee, and 5,000 for the Family Home Guarantee aimed at single parents.

The fine print

The HGS does come with eligibility criteria .

If you’re unsure whether you’re eligible, get in touch and we can let you know if you’re eligible straight away.

As a quick guide, singles have an income limit of $125,000, or up to $200,000 combined for a couple (this includes mates or siblings buying together).

If your income is above this, the Albanese Government has pledged to expand the HGS by scrapping home buyer income limits in 2026.

While the HGS also sets property price limits (these vary according to location), the scheme gives you the freedom to choose a new or established home, a house-and-land package or even an off-the-plan apartment.

Get in touch

Not surprisingly, HGS places can fill up fast.

So if you don’t want to miss out on your spot, get in touch to find out if you’re eligible for this popular scheme that lets you buy with a 5% deposit and pay zero LMI.

What Comes First: the Property or the Loan?

Fri, 17 Sep 2021 06:02:34 GMT

It’s easy to get carried away with the fun part of buying a property – looking at houses – but delaying the less compelling task of arranging finance will weaken your negotiating position on both the property and the loan. Looking for a property to purchase is an exciting time. Choices regarding location, size, number of rooms and local amenities often see house hunters carried away in a deluge of daydreams and anticipation.

But, before you get carried away, it’s important to check off the essentials first. Although organising your finances may seem drab in comparison to perusing sales listings, gaining pre-approval with a lender will give you confidence about how much you can afford to borrow.

“First and foremost, you need to determine if you’re eligible to borrow money from a lender,” says ME Bank Head of Home Loans Patrick Nolan. “Your ability to repay the loan will need to be assessed. You don’t want to find out after you’ve [made an offer] that your credit history or deposit is not up to scratch.”

Arranging finance before finding the perfect property will put you in a good position when it comes time to make an offer. When you do find the house you have always wanted, you can present yourself to the seller and estate agent as a prepared applicant who is serious and reliable.

“It shows you mean business and gives them peace of mind that your financing will not fall through. Don’t be afraid to let the selling agent know you have conditional loan approval in place,” Nolan advises.

Sellers are most interested in completing their sale fuss-free and with steadfast funding and showing that you are capable of both will help put you at the top of a potentially competitive list of applicants.

In the instance that you find and secure the purchase of a home without having your loan pre-approved by a lender, there are a few pitfalls that you risk running into.

“If you don’t have financing to pay for your property, you run the risk of forfeiting your initial 10 per cent non-refundable deposit you need to put down to secure the property. This may differ depending on what state you live in, but the point is it always pays to be organised and have pre-approval in place,” Nolan says.

Saving home loan applications to the last minute also leaves less time to find the most suitable loan and have it approved ahead of settlement.

“Arranging financing as an afterthought also adds immense pressure to the process of shopping around for the right loan and gathering the paperwork to prove you can service the loan,” Nolan explains, “You don’t want to rush this process.”

The first step towards finding your new home is speaking to an East Coast Finance Broker. Call 02 4956 9909 today to arrange an appointment time to sort out the finances. Our team is available in Warners Bay, Newcastle and Lake Macquarie .

Jargon Buster

Fri, 17 Sep 2021 05:56:37 GMT

This is by no means a complete list of terms and acronyms used, but it will give you a good start.

Application fee –

Also called an establishment fee, it’s paid to set up your loan and usually includes legal fees and valuation charges.

Appreciation -

An increase in the value of a property due to changes in market conditions or other causes. The opposite of depreciation.

Arrears –

To be behind in a repayment.

Body Corporate –

An administrative body made up of all the owners within a group of units or apartments of a strata building. The owners elect a committee which handles administration and upkeep of the areas shared by the owners.

Break Costs –

Also known as economic costs or exit fees. They are charged by an institution to recoup interest lost through a borrower refinancing with another institution or paying their loan out early. Break costs are normally only charged on fixed-rate loans where the amount of interest the institution would receive is easily calculable. It can also be charged well into the variable portion of a honeymoon or introductory rate home loan. Some institutions also charge a flat fee on top of their break cost charge. They may refer to this fee as a “deferred establishment fee”.

Bridging loans –

Finance to buy a new property before an existing property has been sold.

Building insurance –

Insurance which covers the cost of rebuilding or repairing a property following structural damage, for example by flood, fire, storm and subsidence.

Certificate of title –

The certificate detailing the ownership and land dimensions of a property. Certificate of currency: A document issued by an Insurance company indicating that a formal policy is currently in place for the insured property.

Company title –

A property title that applies when owners of units in an apartment block form a company. Each has shares in the company that owns the land and buildings. The owner of the shares is entitled to exclusive occupation of a flat. However, if you want to alter occupancy in any way, you must have the company’s approval to do so.

Contents insurance –

A policy insuring household contents against theft and damage.

Comparison rate –

An attempt to express some of the costs of a loan into a single interest rate. These ‘costs’ include the nominal interest rate, some ‘up-front’ fees and on-going charges. It does not include fees and charges based on future events which may not occur, e.g., redraw fees and progress payments which are not typical of all loans. The aim of the comparison rate is to help consumers make a more informed judgement of the costs of a loan, and in doing so, help them to compare various like loan products and services offered by the various lending institutions.

Contract of sale –

A legal document that details the conditions relating to the sale/purchase of the property. This document is legally binding when signed by both the vendor and buyer.

Conveyancer –

A person qualified and licensed to handle all documentation for the sale and or purchase of a property.