Just like you, banks are in business – and they don’t succeed by making bad deals. When they consider your loan application, they’re calculating the financial risk of entering into an arrangement with you. What the bank considers For the bank, financial risk...

While rates move up and down you should always consider the impact they will have on your mortgage.
The rate of interest you’ll pay on your mortgage depends on a combination of factors. This can include the Reserve Bank of Australia’s (RBA) cash rate, your lender and the type of loan you have. The RBA meet on a monthly basis to decide whether changes in interest rates are prudent with the underlying economic conditions and inflation. Generally speaking, in boom times rates are more likely to rise and in periods of slow down then they are more likely to fall.

It can be hard for first time buyers to get a foothold on the home ownership ladder, but take heart – there are various government grants and concessions that can help offset some of the expenses when getting started
Before you start searching for your dream home, take some time to learn more about these benefits. If you’d like an explanation on any government incentives give us a call.