Y.I.Finance » You're Important

In Australia, over 70% of adults have at least one credit card. Options for credit card debt Are you wondering the best way to clear your credit card debt? This will depend on many things such as, the level of debt, number of cards you have and your individual circumstances. Some of the choices you may wish to consider are: – Paying off the balance in full before interest begins to accrue – Pay off the maximum monthly amount that Read More…

Who runs the world? Girls! An interesting property market trend is on the way… Welcome single, female first home buyers! Statistics show Gen Y females are the fastest growing group of mortgagors, taking out almost one quarter of mortgages in Australia in 2015. In fact, almost twice as many single women are buying homes as single men. Why are women doing it alone? Over the last 30 years, the discrimination suffered by single women when applying for home loans have Read More…

Nearly half of all homeowners have never thought to refinance! Are you one of them? We understand that your home loan is usually the largest financial commitment and interest rates can impact how long it takes you to repay your loan. Switching loans may costs you early exit fees, on top of other required fees, BUT it could also possibly save you thousands. How will you know? How will you compare? Give us a call and we’ll do the hard Read More…

Improve your chance of a home loan approval! This article outlines tips on how to get your “financial house” in order before making an application to a lender for a home loan. Since 2010 lender policy has been heavily influenced by financial regulation and laws aimed at verifying capacity to service current and future commitments. Following recent policy changes, many lenders are now taking a more detailed look into applicant’s financial situation including conduct of transaction accounts, type of expenditure, Read More…

Rising house prices can make it difficult for first home buyers to save a deposit to get into the market. This article uses an example from a major bank to demonstrate the minimum deposit needed, in this case 5% of purchase price plus the major borrowing cost, Lender Mortgage Insurance (LMI). As outlined in previous articles, LMI is payable by the borrower if the proposed loan is higher than 80% of the property’s value. While it can be a large Read More…

As well as the deposit what are the other costs you need to budget for? A lot of focus is placed on raising a deposit to purchase a home. A deposit is your “skin in the game” that can come from a variety of sources; including savings, gifts from family or proceeds of asset sales. Lender policy requires a deposit. While the amount of deposit as a percentage of the purchase price can influence the borrowing cost, there are other Read More…

It is often said the great Australian dream is to own your home. The initial step to achieve this dream is to purchase your first home. Since 2000, the various State governments have provided assistance to eligible first home buyers. Assistance can be in the form of lower taxes (purchase stamp duty) and/ or a cash grant. The assistance is reviewed annually in line with the economic situation and government policy. For the past few years assistance has been directed Read More…

Let us help you move from renting to living in your own home! Are you sick of paying rent? Talk to us today about how we can help you purchase your own home! We are passionate about helping aspiring first home buyers fulfill the dream of owning your own home. This is the first in a series of articles detailing the ins and outs of purchasing your first home, including the most frequently asked question we get asked – How Read More…

There is no doubt when you receive your moving in date that you’re already itching to move in! Here is an easy to follow checklist to ensure nothing is missed! When you know you are moving – Clean out cupboards and dispose of unwanted items through a garage sale or donation to a charity – Organise rubbish removal – If renting, check your lease and formally advise landlord of moving date within required notice period 6 weeks before the move Read More…

Are you using your credit card to fund your cash flow? Are you sick of drowning in excessive credit card debt? Have you recently reviewed your cash flow budget?