Y.I.Finance » You're Important

Home ownership – make the dream a reality! If you are a potential first home buyer (FHB), trading up to a larger home or investing you may be feeling disheartened by the doom and gloom in the media as to increasing prices and home loan affordability. Buying property takes preparation and planning – sometimes for years. So what can you do NOW to help you buy a home in the future? Research the market NOW and develop a plan to Read More…

So it’s now DECEMBER (argh where did the year go?) and that crazy time of year where we all run around madly spending up on Christmas gifts, going out, holidays ~ meanwhile maxing out the credit card(s)! December sees credit card usage peak, which is great if you’re a bank (!) but if you aren’t, then what comes with high credit card use is a big bad bank statement sometime in the new year which we call The New Year Read More…

Remember the days of the lay-by? The way people used to buy something they couldn’t afford right away? Many of you wouldn’t! These days we go for instant gratification and reach for the credit card. But is that the smartest way to pay for a big ticket item? If you have a big ticket item in mind to buy but don’t have the funds at the moment, here is a summary of your options and what they mean for you: Read More…

A survey we conducted earlier this year found that nearly 30% of parents were worried whether their children would ever be able to buy a home. Do you have children trying to get into the property market? Are your children wondering if it will ever be possible to buy a property in today’s market? As property prices continue to rise and entering the market for some people becomes a distant dream, many parents are looking at ways they can help Read More…

How good is the smell of a new car?! Or the excitement of driving your new car home for the first time? I helped a friend buy a new car a few months ago and they are still excited about owning it! One thing I noticed while car shopping was that some dealers were offering ridiculously low % interest rates on car finance – in the relm of 0% or 1% finance!! What does this mean? How can they offer Read More…

Spring is a popular time for the property market, sellers have been preparing their properties ready for sale, and buyers are stepping out in the warmer weather to shop around for their dream home or an investment property. If you’re thinking of buying a property in the next few months you should consider getting a pre-approved loan. What is a pre-approved loan? A ‘Pre-Approval’ is defined as an evaluation of a potential borrower by a lender that determines whether the Read More…

Buying off the plan means purchasing a property that is yet to be developed. Often it’s high rise apartments (like the many apartment buildings currently under construction in and around Newcastle CBD), but also can be small to medium density developments including over-55’s townhouse / villa projects. Benefits of buying off the plan Why do people choose to buy property off the plan? One of the key advantages of buying off the plan for a buyer is time. After paying Read More…

If you’re interested in buying property or renovating your existing home, it’s worth knowing your borrowing power and what contributes to how much you can borrow. If you know how you can improve your borrowing capacity you may be a step closer to your next home or investment property. All lenders look at your ability to repay the loan. To determine this they look at a number of factors to work out your: capacity to repay financial risk collateral / Read More…

A recent survey of Australian mortgage holders found 45% had never refinanced their home (source aussie.com.au/refinancing report Apr 16). The report also found customers who DID refinance saved an average of $240 per month ($2,880 pa) by refinancing a 30 year loan. The cash rate set by the Reserve Bank of Australia (RBA) is at an all-time historical low, and most lenders are offering the lowest home loan rates ever seen. But a decision to refinance should not be based Read More…

Do you know your home loan rate? No? Well you’re not alone. In fact one third of Australian home owners don’t know their home loan rate! (source: study by RFi, Australian Mortgage Council) Yesterday the Reserve Bank announced an even further drop in the cash rate to an all time historical low of just 1.5%. So with rates at an all time low, and one third of us not even knowing our home loan rate, I’d say it’s pretty safe Read More…