Current State of the Market

The recent rate rise and signals from the Reserve Bank about more increases have tipped the market further in favour of the buyer. Now is a relatively good time to buy and first home buyers are showing signs of coming into the market as affordability has improved as prices have fallen.

Changes to Stamp Duty have further tipped the balance in favour of the first home buyer as has the release of new and enhanced loan products. The Home Loan Company's Genuine No Deposit Loan has been re-priced please refer to the Comparison Rate Schedule.

Now is therefore a good time to get pre-qualified and look for a suitable property to live in. The advantages of owning your own home are compelling

• Principal and interest loans reduce over the term and in real terms with inflation
  
  
• Property prices tend to rise with inflation
  
  
• No capital gains tax on the principle place of residence
  
  
• Favorable treatment for social security and pensions purposes

Whether you are in your 20s, 30s or even 40s* we can arrange a loan over a 30 year term to make the repayments easier.

The competitive pressure from investors has subsided particularly in NSW where opinions are strongly adverse because of the exit tax and land tax changes. NSW based investors are looking outside the State particularly to Queensland and Victoria. We can assist you with investment loans in Australia and New Zealand.

If you are thinking about re-financing please take care. We have many examples of people re-financing and being unaware of all the costs of doing it before it is too late. We recommend you talk to your existing lender first about a better deal. We have been able to shave over 0.5% off the rate for many of our clients. If you do decide to re-finance ensure you have factored in deferred establishment fees, break costs and the costs of discharging the mortgage as well the application fees and lenders mortgage insurance where applicable on the new loan.

Is now time to fix your mortgage rate?

Fixed rates are now below most standard variable rates.

Depending on your view of future interest rate movements now may be the time to fix.

You will get certainty over your interest rate for the fixed rate period.

Most lenders also now allow you to make some additional payments for no extra cost during the fixed period.

However, 'Break Costs' typically apply if you substantially reduce or pay out your loan before the end of the fixed price period. There may also be one off fee for fixing the rate.

Call us today on 1800 24 23 24, 8am to 8pm, 7 days a week, to check out the options applicable to your loan.

* Conditions apply