API Online

September 30, 2010

Fixed rates on the rise

Have mortgage holders missed the boat?


This week is the second successive week in which our lender panel’s average interest rate for three-year fixed-term home loans – the most popular with borrowers – has risen. This increase totals only 0.05 percentage points but still may indicate rock bottom has already passed.

These rises come after 14 consecutive weeks of falls totalling 0.46 percentage points.

In comparison, the basic and standard variable rate averages for our panel have budged only 0.02 of a percentage point either way in the past four months. Read more →

August 23, 2010

How to get a yes from your lender

Anyone looking to invest in the residential housing market for the first or subsequent time should go back to basics before applying for a home loan. Making the leap is an effort no matter how much experience you have, so below are some tips on how to make sure you’re well prepared and doing everything possible to achieve the best possible outcome.


I’m sure you’ve heard a lot of talk about the lending criteria screws being noticeably tighter since the global financial crisis, to the point where a significant percentage of Australians who would have been approved for a home loan previously are now being turned away.

In fact, I was talking to a real estate agent the other day who had been with his lender for 12 years while expanding his property portfolio. He’d never had issues, late payments or defaults, yet has just been knocked back for extra finance that he was sure would be approved. Read more →

May 27, 2010

How to pay off your mortgage faster

As we all know, the quicker you repay your home loan, the more equity is built up, which can be used to fund the expansion of your investment property portfolio. It’s not as difficult as people may think.


It’s about taking little bites and continuing to chew, all the while thinking about the end goal. Why let negativity cloud the satisfaction of getting closer to owning a property outright and having a good amount

of equity at your disposal?


Did you know that if a fairly average new home loan borrower – someone with a $281,400 home loan at 7.1 per cent over 30 years – contributed an extra $100 every month to their mortgage from day one they would save well over $70,000 in interest plus almost four and a half years off their loan term?

Read more →

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