Australia’s banks are required to test how you would cope with an interest rate increase. They do this by adding approximately 3.00% p.a. to the current rate. Here is what this calculation would look like for someone with a $450,000 variable rate mortgage: @ 4.25% p.a. the monthly repayment is $2,214 over 30 years. @ […]
Continue Reading >Imagine finding a petrol station that was always 5c per litre cheaper. Most people would make an effort to go there. If you purchased 100 litres per week at that station you would only save $250 over a whole year. We just helped a client that had a $490,000 home loan on 4.40% p.a. (which […]
Continue Reading >Given we share the same main road and a fair rivalry with them we thought it might be interesting to look at how the St Ives property market compares to West Pymble. The biggest difference is the size of the market. St. Ives has 4648 houses and West Pymble has 1769 houses. There are 2.62 […]
Continue Reading >IMPORTANT banking changes under way! There are some significant changes to Australia’s banking system currently happening. We felt it was important you are aware of these, as they are likely to impact on all Australian mortgage holders. Since the GFC, the global banking industry has been working on reducing the risks within banking systems. One […]
Continue Reading >Whilst many lenders have increased their investment loan interest rates in recent times, home loans are a different story. As you can see from the chart below, the dark blue line (ave. basic variable) has been reducing throughout 2015. Interestingly, the range between the most expensive and cheapest of the major banks is 0.51% p.a.. […]
Continue Reading >We often hear people talking about the property market it terms of buyers or sellers being in control. Economists will look at this in the context of supply and demand or competition for scarce resources. The table below has been constructed by Smartline to open a window on the various property markets in Australia. We […]
Continue Reading >One of our very well know and respected banks has this week announced a very limited special offer of 3.99%pa (comparison rate 4.19%pa*) on the following terms. -New residential lending with new to bank security property -Min Loan amount $50k -LVR less than or equal to 80% -Owner occupied loan purpose -Principal & Interest repayments […]
Continue Reading >The federal regulator is currently implementing major and unprecedented changes to the Australian mortgage industry. Given governmental concerns over the booming property market, particularly in Sydney and Melbourne, a range of rules are being introduced that specifically target investment loans APRA (Australian Prudential Regulation Authority) is the department that is implementing these changes. APRA has […]
Continue Reading >Hornsby Council Area has been ranked as the No.10 area in NSW for Socio-economic Advantage. The Federal Government maintains an index called SEIFA for every local government area. This index measures a vast range of variables from crime rates to income levels. A perfect score would be 1200. Our council ranked 10th with 1085.2. […]
Continue Reading >Ku-ring-gai has been ranked as the No.1 area in NSW for Socio-economic Advantage. The Federal Government maintains an index called SEIFA for every local government area. This index measures a vast range of variables from crime rates to income levels. A perfect score would be 1200. Our council ranked 1st with 1120.70. We came across this […]
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