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Seven ways to win at auction

There are several ways to buy a house and an auction is one of them. Auctions are a great way to pick up a bargain but also a sure fire way to get yourself into trouble. I've collected a few tips to help you if you're buying at auction. 1. See your mortgage broker early enough to know what you can spend!!! 2. Look multiple times - Do as many inspections as you need to. Think about things such as building inspections before auction day. 3. Get your paperwork ready - Engage your solicitor or conveyencer to review the contract before you bid. Check with your legal representative about any rules around auctions and what you may or not be able to do on the day or straight after. 4. Know your mark

Free ATMs!!!

The big four banks are now all atm fee free as the majors followed the Commonwealth Bank's lead and dropped their fees. It's a $500 million a year win for consumers. More info here.

Is it time to spring-clean your finances?

Spring is the perfect time to wash a few windows, dust off the window sills and it's also a great time to review your finances. A recent article suggested a few options: Check your Superannuation - You should have had a recent end of financial year statement sent to you. One estimate is that by the time you reach 65, your savings should be at least 7.5 times your annual salary Have a Mortgage Review - Come and see us if you haven't reviewed your loan for a while Pay out or consolidate any other debts - always a good idea to reduce your debts if not against a decent asset like property Review your insurance situation - insurance policies are always changing so an annual review can save you bi

First Home Buyers are back in the property market!

Data from July 2017 shows an increase in First Home Buyers' loans. Previously First Home Buyers were below 13% of the market but surged to 16.6% last month. This is the highest level in four years. Incentives like reduced stamp duty have increased First Home Buyers' loans in Victoria. It will be interesting to watch this effect further. Investment loans are decreasing which has been the effect of the Bank's regulator APRA decreeing that lenders had to reduce the amount of investment lending within the market and the amount reduces even further for those who are holding interest only loans. This effect has brought back stability to the market according to a Jason Murphy in a news.com.au artic

Is there a bank of Mum and Dad?

Recent research has shown that some 65 billion dollars of loans are obtained through the 'Bank of Mum and Dad' nationally each year making it the fifth highest lender! This financial assistance came in several forms: rent free living money for deposit acted as guarantor for loans helped with repayments bought as a co-owner The article is looking at NSW where 33 billion of that national 65 billion is spent and this is likely due to the cost of houses in Sydney but it's a trend that we're beginning to see here too. There are several ways that parents can help their children to get into the housing market but there are also pitfalls and there are more formalities to ensure that family members i

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