There is now a simple mortgage product especially for parents who want to help their kids get on the property ladder. The difference is, it doesn’t involve risky re-mortgaging or bank guarantees.
Moving house can sometimes seem like the only way to get the home of your dreams. But unless you have to change location for jobs or schooling, a solution could lie closer to home.
It’s hard to imagine that fewer than half of all Australians will own their own home in the next few years. But with stagnant incomes, an increasing population and soaring house prices, it’s a harsh reality that many people have to face. So, what options are left for first home buyers?
Buying a property or repaying an existing mortgage? Instead of a straight repayment, you can benefit from having an “offset” account linked to it, where you can put your savings and income.
When looking to buy a property, there are all sorts of jargon used to describe types of land ownership involved. Here are some phrases you should understand so you know what you are getting in the buying process.