Overtime and Borrowing Capacity: We Have a Solution
Over the last 12 to 18 months, due to pressure from the regulator, lenders have gradually tightened their policies on overtime income and penalty allowances and now all but a few lenders will only include a percentage of this income type when calculating a client’s serviceability for a loan. Traditionally, lenders have always weighted this […]
Market Update – March 2017
According to REIWA, property sales activity in the Perth metro increased in February 2017, up 8% from January’s figures. The top performing suburbs for Perth in February were Canning Vale, followed by Duncraig and Ellenbrook. A key driver to the increase in property sales activity in February can be attributed to continued record low interest […]
Keystart and How to Get Into Your First Home Sooner
Many young Australians dream of getting out of the rent trap and purchasing their first home, but often the deposit needed can seem like an insurmountable obstacle. Most lenders will require at least a 5% deposit, and even then, they will charge you thousands of dollars in lenders mortgage insurance premiums. But there is another […]
Fixed Rates Vs Variable Rates – Is Now the Time to Fix?
Interest rates have been at record lows since the RBA slashed the official cash rate to 1.5% last August and after their decision to keep it the same on the 7th of February, many are wondering when the rate will start to creep up. So, what does this mean for you? Is now a good […]
Market Update – Interest Rates in 2017
Without having a crystal ball at your disposal, the question of whether interest rates will rise in 2017 is a tough one. So, what indicators can we look at to get a feel for the direction interest rates are likely to head in the coming months? Based on data from the Reserve Bank over the […]