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19.01.2022 The First Home Deposit Scheme is starting on 1 January 2020. This will allow eligible first home buyers who have at least a 5% deposit to possibly obtain a home loan without paying mortgage insurance. The government will act as your guarantor. The only lender we know that will be offering this type of loan is NAB currently but there will be at least one more major lender to be announced plus some additional smaller lenders. See https://www.nhfic.gov.au//fact-sheet-first-home-loan-depos for further information

19.01.2022 In the coming weeks your borrowing capacity may increase. So if you have had issues getting approved for the amount you require it could be worth revisiting it. The banking regulator, APRA, confirmed on Friday that they will no longer require lenders to use an assessment rate of no less than 7% p.a. APRA will now let lenders set their own assessment rates as long as it is at least 2.5% above the actual loan interest rate. This could potentially make a big difference to your b...orrowing power. I think we will see lenders move on this very soon. They make money by lending money so I have no doubt they will jump on this. If you would like a borrowing power assessment feel free to private message me or call me on 0404 037 663. https://mobile.abc.net.au//apra-relaxes-mortgage/11282066

09.01.2022 The cash rate decision for March has been announced by the RBA with a rate cut. The RBA has reduced the cash rate by 0.25% p.a. to a new record low of 0.50% in response to the economic threat posed by the coronavirus outbreak and bush fire crisis. The good news is that already an influx of emails have been received by lenders announcing they are passing on the full 0.25% cut.... So far CBA, Westpac and NAB have announced they are passing on the full 0.25% decrease. It is safe to say that others will follow. If you would like to review the rate on your loan to find out if you can lower it please don't hesitate to call me on 0404 037 663 or message me. Patrick

09.01.2022 If your income has been affected by the Coronavirus and you feel you will struggle to make your mortgage repayments there is help available. You may be able to pause your home loan repayments for up to 6 months. This article provides some further information.... https://mobile.abc.net.au//are-banks-freezing-mo/12090642

03.01.2022 As of 1st August 2020 first home buyers in NSW who purchase a brand new home will not have to pay stamp duty on a purchase price of up to $800,000 and those who buy a new home in the $800,000 to $1,000,000 range will receive a discount. The $10,000 First Home Owners Grant will also be available to purchasers who are eligible for these stamp duty concessions. https://www.realestate.com.au//coronavirus-nsw-governmen/