Posted in Mortgages and Finance

It is increasingly difficult to save enough money for your first home purchase but there are some ways the government can help, such as First Home Super Saver ('FHSS') scheme.

The FHSS scheme allows you to save for your deposit within your superannuation investment account.  There are several key benefits to using your super as the saving structure but the ability to withdraw personal Concessional Contributions may provide a significant tax planning advantage.

Personal Concessi...

Increasingly, the threat from criminals stealing your identity to arrange credit in your name has become a significant problem. In the high-tech world we now live in, it is virtually impossible not to have your identity exposed to the possibility that it may be stolen and used by criminals. Most of us now complete our everyday transactions via the Internet using our credit card and other details.  Even the government now requires you to use their services online, including providin...

One of the biggest hurdles for first home buyers is being able to save the deposit BUT also being able to afford the mortgage insurance. Now the government has provided a solution for that problem. From 1 January 2020 the federal government is introducing their First Home Loan Deposit Scheme to help first home buyers purchase their first home. Effectively the government will guarantee to the mortgage provider up to 15% of the property purchase price. Previously this guarantee would have b...

Trying to help out a family member or a dear friend by providing your personal guarantee (or offering your property as security) could be very costly at some point in the future, so before putting pen to paper and signing your life away make sure you consider the following: What is the difference between a guarantor and a co-borrower? Will the guarantee affect your own borrowing? Are you providing personal guarantee or your own property as security for the loan? Make sure you ge...

Why is it getting more difficult to get a home loan? It is becomming increasingly more difficult to obtain a home loan - why is this: The Federal Government is worried that the Australian property market is in a bubble, because home loan interest rates are low and credit is easy to obtain; The Government uses its banking regulatory body APRA to force banks to make it harder to get property loans in an attempt to cool the housing market. This article in The Australia...