Mortgage Stress Is Rising: What to Do Before It Becomes a Problem
It usually starts with the credit card. Mortgage stress is when your repayments take so much of your income that other bills start to slip. The earlier you act the more options you have: review your rate, restructure the loan, consolidate high-interest debts or ask your lender for hardship help. Talking to a broker or […]
Using AI on Your Home Loan Documents? Here’s Where the Line Is
It takes about ten seconds. Using AI to understand, summarise or organise your home loan documents is fine. Using it to change a bank statement, payslip or tax return is not: altering documents you give a lender can be fraud and lenders increasingly check documents directly with banks and employers. If your documents don’t tell […]
Four Rate Rises This Year: What to Check on Your Home Loan Before the Next RBA Meeting
After four rate rises this year, check your rate rise letter for the new rate and repayment start date, then compare your rate with current offers, review your budget and buffer then decide whether fixing part of the loan makes sense. A broker review can show whether refinancing would save you money. The letter from […]
How Much Deposit Do You Really Need for a Home Loan?
Twenty per cent is not the rule, it is just one rung on a ladder. Here is what a 5%, 10% or 20% deposit really costs you in lenders mortgage insurance, lender choice and monthly repayments.