We explore the seven main advantages of a home or property valuation. These include selling your home, securing a home loan, reducing refinancing applications and more.
Property values are hard to determine definitively as the only 100% correct, actual value is what someone is willing to pay for it at any given time. We explore 3 property valuation methods.
A home loan needs regular check-ups to ensure you get the most out of it and own your property sooner. Read more to find out what exactly is involved in a home loan check.
An interesting 12 months with housing prices rising sharply; interest rates remaining steady; end to the Sydney and Melbourne housing booms; CBA and NAB making moves; smaller lenders offering very competitive rates.
First home purchase potential has risen due to record low interest rates and a shift in the housing supply highlighted by low auction clearance rates (particularly in Sydney and Melbourne).
Australia's major banks recently increased variable interest rates across all residential home loans, outside of the rise for investment related loan products.
We see no change in the cash rate at 2.00% with inflation low at 1.5%. Major banks are moving their rates upward despite official rate remaining steady.
NAB announced Australian postcodes where it will restrict loan-to-valuation ratios due to increased risk for mortgages in particular suburbs.
The government has enforced lenders to immediately reduce investment lending practices, meaning it's harder and more expensive to borrow for investments.
Rising property prices and pressure from banking industry regulators such as APRA are making most major lenders review how they assess borrowers for loans.