Mortgage serviceability can feel like a frustrating hurdle to clear. But it’s an important safeguard against borrowing too much, particularly in the current interest rate landscape.  It’s in the best interests of all parties involved if your mortgage is chugging along with regular repayments being made. Borrowing an amount you don’t have a hope in hell of repaying can mean heartache for you, and can land your lender and broker in hot water. Enter mortgage serviceability. Before approving your loan application your lender will take a good look at your finances to see if you can meet repayments. We’ll break

Drumroll … The RBA has hiked the official cash rate for the 12th time since April 2022, increasing it to 4.10%. How much will this increase your monthly repayments? And how long does Philip Lowe plan to keep marching to this beat? Another month, another 25 basis point cash rate rise. It’s now apparent the cash rate pause back in April was nothing but a false peak. Reserve Bank of Australia (RBA) Governor Philip Lowe explained in a statement that while inflation in Australia had passed its peak, at 7% it was still too high and it would be some time yet

Australians are increasingly “thinking small” when it comes to buying a home and cracking the property market. And with perks like affordability, more desirable locations, and lower maintenance, it’s little wonder why. Many Australians are crossing the McMansion off their wish list in favour of smaller, smarter, low-maintenance homes. A recent ING study surveyed over 1000 Australians about their home preferences. Over a quarter (26%) said the cost of maintaining and running a larger home would see them gravitate to a smaller abode. And 19% said they’d consider a smaller outdoor area for ease of maintenance. Australia has some of the biggest

Navigating the Australian property market over the past year has felt like standing on shifting sands. But is the market starting to regain stability? And if so, what can you do now to make sure you’re ready to buy? Anyone with an eye on the property and finance market over the past few years has seen their fair share of thrills and spills. It’s been anything but uneventful. But with the RBA’s rapid-fire rate hikes slated to peak in 2023, is there a property upswing afoot? Westpac’s economists seem to think so – they’re predicting that the housing correction is winding

When buying property, it’s good to know the market value. After all, you want to know you’re paying a fair amount. But the property’s value is an important consideration for your lender too. And their valuation may be quite different. Just how much is a property worth? Well, it depends on who’s asking. When buying a property you’ll find there are different terms to estimate how much it’s worth, including market value, market appraisal and bank value. And you’ll most likely find they can differ, which can be confusing. Fortunately, we’ve got the low down to help you understand the

Business owners wanting to buy a vehicle, asset or important piece of equipment and immediately write off the full cost have just over a month to act. That’s because the temporary full expensing scheme is set to expire on 30 June 2023. It will be superseded by a much less generous scheme, known as the instant asset write-off, so if your business could do with expensive new equipment, an asset or commercial vehicle, you might want to act quick! What is temporary full expensing? Temporary full expensing is similar to the popular instant asset write-off scheme, but with an expanded scope. Originally