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First Home Buyer Academy
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22.01.2022 How to find the buyer's agent that you can trust? http://www.propertymarketinsider.com.au/how-to-spot-the-be/
20.01.2022 Which mortgage: fixed or variable? Choosing between fixed rate or variable is pretty simple, but the impact of this decision can be significant. Here are a few things to consider when choosing your loan rate type.... The main benefit of a fixed rate is stability, not to save money. It’s essentially an insurance policy against future rate rises during the fixed term. The biggest downside of taking a fixed rate loan is that it’s very expensive to break it. If you’re selling or refinancing during the fixed period, you could be charged tens of thousands of dollars. That’s simply because the money that the bank lends you is bought at a certain rate that’s calculated over the longer term. If you break your fixed term, the banks aren’t able to recoup the same rate, so they’ll have to charge you for these losses. If you’re confident you won’t be selling or refinancing during the fixed period and if you’re on a low income and have a low tolerance to risk, consider fixing your loan. Variable loans give you a range of flexible features and generally lower interest rates. But your lender can change the mortgage interest rate by as much as they like any day of the week. If you only have a small buffer, you could be in massive financial pain when interest rates rise.
