As if the cost of living and higher interest rates weren’t enough for prospective home owners to worry about, this with a HECS- HELP loan will have to consider a debt increase following the recent announcement that the indication on student loans in Australia is set to increase to around 4.7-4.8 percent. The consumer price index (CPI) which determines how much HECS-HELP and all other student debt increase under the annual indexation that takes place on June 1, and with inflation data just released, we are now looking at the second highest figure since 1990. What does this mean for people with ..read more

A bridging loan, or bridging finance, is a short-term loan that can help you finance the purchase of a new property while you sell your current property.  With high levels of competition within the Perth property market currently, a lot of people are also wanting that extra security to know they have been able to secure a new home before they go ahead and sell.  Bridging finance may provide the answer to affording to do both, but it is not the best option for every case and it’s important to understand the pro’s and cons.  How does a bridging loan work? Bridging loans provide co ..read more

With listings in Perth falling below 4,000 homes, interstate investors are capitalising on the affordable real estate market, according to a Perth real estate agent. Peter Vetten from Raine & Horne Mandurah, said the heat in the Perth property market is exacerbated by many properties selling off-market. “In the Perth metro region, there’s normally around 13,000 to 14,000 listings, and at the moment we’re under 4,000 listings. We’ve got a serious supply and demand situation that has contributed to Perth’s prices climbing by almost 17% over the last year,” he said in a news release. Vetten a ..read more

Perth house prices forecast to grow by 8% next year One of the key questions we’re hearing lately from our clients and prospective clients is, “when will the property market in Perth drop?” And our response is generally, not any time soon if the current reports are anything to go by. Perth house prices are holding strong and look set to continue on their current trajectory. If you want to buy a property for investment or improve your home, now is a great time to do so. With Perth house prices predicted to witness substantial growth in the coming two years, supported by rising demand, limited i ..read more

There’s no denying the Perth property market is hot right now. Along with local demand outstripping current supply, Perth is experiencing an influx of investor activity, driven by affordability with one of the lowest capital city medians along with Adelaide. This is welcome news for existing property owners but highlights the importance of a clean and competitive offer for those buyers needing to get an edge on the competition to get their offer accepted. Boasting both relative affordability and a somewhat insulated economy, the constant onslaught of rising interest rates we saw in 2023 h ..read more

Keystart is a transitional lender, which means once you are in a position to refinance your loan to another lender, you are encouraged to do so. It could be the right time to refinance a keystart loan when you have built up enough equity in your home, because you have paid off some of the loan or your home has increased in value. Perhaps other things have changed regarding your situation that mean you may now meet the criteria of other lenders and could save money on your interest repayments and have more flexible terms.  When should you refinance a Keystart home loan? You should refinanc ..read more

The Australian mortgage market has shown quite the range of interest rate adjustments over the past week, reflecting the ongoing adjustments by financial institutions in response to economic signals, Canstar has reported. Lenders adjust variable and fixed rates Canstar’s latest weekly interest rate wrap-up highlighted several key changes in the landscape of home loan interest rates.  Three lenders upped 15 owner-occupier and investor variable rates by an average of 0.06%. Conversely, Great Southern Bank cut two of their owner-occupier and investor variable rates by an average of 0.25%. In ..read more

Bankwest’s 129-year branch presence in Western Australia will come to an end by October as its owner, Commonwealth Bank, confirmed on Wednesday it would be closing all 60 of its branches in WA as part of a move to digital-only services over the next 6 months.  While the company was keen to highlight the takeover of 15 of its regional branches by parent company Commonwealth Bank, 17 branches in other regional towns and all branches in Perth will be permanently closed, leaving many without bricks and mortar banking services.  Once the transition is complete, branches in Bunbury, Bussel ..read more

Over the years we have seen a rise in new buyers seeking alternative pathways to buy a home. The percentage of those aged 25-29 remaining at home has increased to more than 17 per cent due to rising property prices and time spent in higher education, according to the Australian Institute of Family Studies. But their parents are often sitting on massive capital increases in property assets, and may be considering ways to help their children buy their first home. Here we look at some of the ways that parents may be able to help their children buy a home. Guarantor loans Guarantor loans are a fan ..read more

Current rate landscape The average variable interest rate for owner-occupiers paying principal and interest stands at 6.9% for an 80% LVR. However, the lowest variable interest rate available across any LVR is an introductory rate of 5.69% from Australian Mutual Bank. According to Canstar’s database, there are 19 rates below 5.75%, maintaining the previous week’s numbers, and 225 rates are below 6%, substantially lower than the average loan rate. Fixed and variable Interest rate changes Two lenders have raised three owner-occupier and investor variable interest rates by an average of 0.05 ..read more