In the May newsletter, we started looking at the options available for would be first home buyers trying get into the market in the face of rising property prices and generally without a large deposit.
I outlined 4 solutions:
1. Borrow up to 95% of the purchase price (if you can get one)
2. A gift of money [...]

It has never been harder for first home buyers to get into the market. Australian property prices are at record highs and each week they go up further.
With property prices having gone up by between 20% in the last 12 months even the most diligent savings efforts by 2 young professionals (each on 6 [...]

Most people would have been happily unaware that the Reserve Bank of Australia (RBA) was due to meet yesterday. All focus has been on getting the kids out the door and back to school (or for those without kids, recovering from another BBQ where a little too much of everything was consumed). Either way, the [...]

Some very clear trends have emerged in the marketplace over recent months, namely:

Interest rates might be down and the government might be giving first home buyers up to an extra $19,000 but getting finance for your first home has got far tougher in 2009.

Know someone with a GE home loan? Please pass this important news on to them…

On Friday, ANZ announced that it will now only lend up to 90% of the value of properties for all new business effective from Nov 17th. ANZ had been lending up to 95%, as had most lenders.
In announcing the decision, ANZ said:
” Although ANZ’s mortgage portfolio credit quality remains sound and customers are managing repayments [...]

NAB has recently launched the Clear Banking Home Loan.  The loan is a no frills mortgage that answers Federal Government calls for banks to allow customers to move more freely from one bank to another without incurring penalty fees.
 
However, whilst the loan has no penalties on exit, there is definitely a “price” paid for taking [...]

The mortgage landscape certainly has changed over the new-year period and I think that few, if any, predicted what has transpired.
 
Firstly, interest rates have gone up three times.  Secondly, the major banks have all increased their variable rates by more than that which the RBA has increased the base rate and by different amounts to [...]