The Malinauskas Labor Government is bringing a wave of good news for first-home buyers in South Australia. As part of the 2024-25 Budget, the state has taken a major step towards making homeownership more accessible and affordable. What’s New? First-home buyers who purchase or build a new home, including houses, flats, units, townhouses or apartments, will no longer have to pay stamp duty. This also applies to off-the-plan apartments, house-and-land packages, and vacant land for building a new home. The $15,000 First Home Owner Grant will be available to all eligible first-home buyers without ..read more

The Federal Budget 2024-25 promises measures to address the cost-of-living squeeze, support homebuyers and boost housing supply. These measures are likely to be met with a sigh of relief from mortgage holders nationwide. But a potential tightening of the monetary screws by the Reserve Bank could dampen the positive sentiment. Here’s a breakdown of the key points relevant to home loan borrowers and those looking to enter the property market. Easing Cost-of-Living Pressures The Budget offers various relief measures to ease the financial burden on Australians. The government is providing $1.9 bi ..read more

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Property investment can be a great way to grow your wealth, but it’s important to understand the market and plan your finances wisely. We’re proud to feature insights from Home Loan Experts mortgage brokers Robert Mo and Jonathan Preston. They bring you the essential strategies you need to succeed in property investment. Whether you’re a beginner or a seasoned investor looking to refine your approach, this blog will equip you with the knowledge and confidence to make smart decisions. Understanding Market Potential And Risk Robert Mo emphasises the importance of looking beyond familiar territor ..read more

The latest ANZ/CoreLogic Housing Affordability Report paints a grim picture for aspiring homeowners. Housing affordability has continued its downward spiral. Here’s a snapshot of the unsettling statistics from March 2024: The portion of income required to service median new rents reached a new high of 32.2% nationally. The portion of median income required to service a new mortgage reached 48.9% nationally. The time it takes to save for a 20% deposit has increased to 10.3 years. Expert Tips For First-Home Buyers Given these challenges, we turned to our seasoned Home Loan Experts for th ..read more

Did you know that if you have a trust, you may be able to use it to increase your borrowing power? How? You can set up an advanced strategy that allows you to exclude debts from serviceability assessments if an accountant can confirm for lenders that a property is positively geared. We have outlined how this works below and have provided a specific example that shows how you can potentially access more than $2 million of borrowings on a single income not much higher than $100K. How It Works The strategy goes like this: After you acquire the first mortgage, we obtain a letter from your accounta ..read more

Summary Australians see a big drop in borrowing capacity, with a 32.58% decrease since 2020 and an 8.17% fall from last year, largely due to a rising RBA Cash Rate. Select lenders with low buffer rates (down to 2%) offer a glimmer of hope to boost borrowing capacity. A bigger deposit improves LVR and can secure lower interest rates, mitigating borrowing power declines. Stage 3 tax cuts and the Help to Buy scheme could soon offer much-needed support for homebuyers. Have you noticed that dream home you once eyed seems a little further out of reach lately? You’re not alone. With recent interest ..read more

As we step into 2024, the team at homeloanexperts.com.au is thrilled to share exclusive insights from our property experts and mortgage brokers regarding the property market. In this blog post, we present their takes on emerging trends, challenges and opportunities for buyers, and actionable steps. It’s time to make 2024 your year in the property market. The Market Will Be Busier Government Schemes On The Forefront The year 2024 will be a busy market, with stable interest rates and easing inflation contributing to high rents. Government initiatives, such as new tax rates and the Help to Buy sc ..read more

In a recent announcement, the Australian Prudential Regulation Authority (APRA) confirmed the mortgage serviceability buffer remains at 3%, following its annual update on macroprudential policy. What Is the APRA buffer rate? The APRA buffer rate, also known as the serviceability buffer, is a minimum additional interest rate – above the rate for the mortgage – that lenders use when assessing the ability of borrowers to repay their home loans. The buffer rate is now 3%, so to be approved for a loan with an interest rate of 5%, most banks will require that a borrower be able to make repayments ba ..read more

Move over, Santa’s elves! There’s a new crew in town – and they’re not busy crafting toys. They’re the Mortgage Elves, working behind the scenes during this festive season to bring holiday magic to home financing. There are striking similarities between the festive magic of the North Pole’s famous toy-making crew and the diligent work of mortgage brokers during this season. Let’s explore the parallels between the labours of Santa’s workshop and the loan approval process, highlighting the dedication, attention to detail and commitment our team brings to ensure you get the right deals. Elves And ..read more