Australian homeowners are loading up their offset accounts in record amounts, so much so that the average household is now almost four years ahead on their mortgage payments. Quick question: do you have an offset account (or several) attached to your mortgage? They’ve become quite popular in recent years, especially since the RBA’s official cash…read more
You’ve probably noticed that house prices in Australia consistently outstrip growth in wages. But by how much? And what can you do to make sure you’re not forever chasing the great Australian dream? Each generation faces its own unique set of challenges (and opportunities!). And for the current crop, one big challenge can be breaking…read more
The average Australian homeowner is paying more than $37,000 in extra interest over the life of their home loan due to the loyalty tax, and it’s got three-quarters of borrowers feeling “ripped off” and “angry”. What’s the loyalty tax? It’s this sneaky lender trick where borrowers with older mortgages are typically charged a higher interest…read more
While most Australians dream of owning their own home, the majority of hopeful homeowners admit they don’t fully understand how home loans or mortgage rates work. That’s why we make it our mission to enlighten you during your home buying journey. They say knowledge is power. But this week we stumbled across some interesting stats…read more
Single parents saving for a property and first home buyers are the big winners from this year’s federal budget. Today we’ll break down the three schemes that will help them crack the property market sooner. In recent months there have been signs that first home buyers are beginning to shy away from the property market,…read more
The finance industry has a bunch of acronyms and abbreviations that can make the home buying process a little confusing. But they’re not as difficult to understand as you might think. Take our short quiz to see how many you can answer! Below we’ve listed eight commonly used acronyms and abbreviations in the mortgage and…read more
The property market is going through a boom phase, which means housing affordability is getting tougher. So how much does the average Australian household need to put towards their monthly home loan repayments in the current market? Let’s take a look. You’ve probably noticed the housing market is going a bit crazy at the moment.…read more
Great news just in for first home buyers: the Australian government will reissue 1800 First Home Loan Deposit Scheme (FHLDS) spots from the 2019-20 financial year. The 1800 spots are back up for grabs because people who previously reserved a spot in the Australian government scheme were unable to complete the purchase of their first…read more
Whenever it makes financial sense to do so. Heard about mortgage refinancing? In the past, most people who took out a mortgage doggedly continued with it until they had paid it off. These days, people refinance their mortgage much more frequently. The average duration of a home loan in Australia now is just 4-5 years.…read more
If you are finding it tough to meet your current financial obligations or you are just interested in reviewing your current home loan, then you are not alone. Advantage Consulting stand ready and able to point you in the right direction to get the assistance you need in this difficult time. Make sure your current…read more
Is the key to saving a home deposit as simple as giving up smashed avo toast for breakfast? Well not quite, but spending less does make a difference. On top of a budget, a savings plan and strategies such as a high-interest savings account, an effective way to save is to reduce or eliminate expenses.…read more
Recent evidence shows that although we are in the middle of a global pandemic which has resulted in Australia’s first recession in decades, the consumer confidence has bounced back to pre-pandemic levels, confidence in the housing market is booming and experts predict a cash rate cut on Melbourne Cup Day. What is consumer confidence?…read more