If you want to have more control over your investments, an SMSF loan could be the best finance project for you. With SMSF, you can select where your retirement savings go. With so many options to choose from, you can find a suitable investment for you. You have hands-on control on how to manage your…
Choosing the home you want is a very important decision. It is a dream we all have and having the best quality must be our priority. But if you are skilled and smart enough to have a strong desire to build it on your own, there is a specific mortgage program at Intellichoice to help you make…
Investment in Australia encompasses a diverse landscape of opportunities. However, it can be risky for those who venture without the proper knowledge, experience, and guidance. There is a clamor for a quick, ‘play the markets’ strategy. After all, younger investors who belong to the Gen Z group tend to seek short-term results – about 21%…
It’s more common to consult a broker service when seeking home loans or business loans. However, insurance is also crucial in one’s financial health because it protects assets and manages liabilities. Yes, the topic can be quite intimidating and sombre, but it is a necessary goal for Australians. Right now, only 1 in 4 have…
Owning a car nowadays is more necessary than a trivial lifestyle choice, especially in Australia, where you’d need one for daily commutes. Stats notes that the average distance traveled by a passenger vehicle is over 12,000 kilometers per year! Buyers may differ in their preferences – some aspire for a ‘dream’ car while others simply…
Planning to give up on petrol? Australians have been following the trend by switching to an electric vehicle, or EV, in the past years – with more than half a million looking to buy a new car leaning towards a battery-powered vehicle. As of June 2023, a total of 46,624 EVs have been sold here…
Australian home buyers who may need a leg up when purchasing their first home could maximise specific government schemes. One of these is the First Home Super Saver Scheme (FHSSS). Introduced in the 2017-2018 fiscal year, the initiative aims to assist first-time home savers in saving for a deposit by making voluntary contributions to the…
Australians with a good chunk of cash have several avenues of earning a return on their money. However, only some people are comfortable investing in stocks or bonds. For individuals who prefer low-risk products, there are two options: a savings account or a term deposit. Both share some similarities but also have glaring differences. Let’s…
When it comes to home loans, borrowers have various options to choose from based on their financial goals and circumstances. One such option is an interest-only home loan. In this article, we will delve into the concept of interest-only home loans, explore their advantages and disadvantages, and provide key considerations for borrowers contemplating this type…
Every investment property will experience wear and tear through the years – and it comes at a significant cost for the owner. Fortunately, claiming investment property depreciation as a legal tax deduction could offset property upkeep expenses. Here’s a guideline on how to claim investment property depreciation, what types of depreciation are eligible, and how…
Australia is geared towards a greener, more sustainable path. And this is evident in mortgage products as well. Green home loans reward homeowners who focus on incorporating green features in their homes. These innovative home loans aim to incentivize and support homeowners in adopting environmentally friendly features in the home. If you buy, build, or…
Choosing the right upgrades to renovate your home can significantly enhance its functionality, aesthetics, and value. Renovation activities by Australian homeowners are at a three-year high during 2019 to 2021. Nearly half of homeowners had an average of $30,000 for renovations in 2021 – almost 48% of all homeowners in the country. Whether you plan…
Investing in property can be an excellent strategy to build wealth. And in Australia, it’s such a major market. Right now there are over 2.2 million property investors in the country, with at least 71.5% of these individuals holding just one property. Is property a good investment? Yes! Even with inflation impacting the housing market,…
Homeownership is a life goal of many Australians. However, traditional pathways to achieve that target could prove too costly. Having the right income and assets to put up a 20% deposit is nearly impossible for most people. In fact, findings suggest that it could take first-home buyers up to 15 years to save for a…
Some home buyers are considering buying a brand-new property even when there’s nothing concretely built yet. This is called buying off the plan, and it’s become a popular choice because home buyers often enjoy significant discounts when choosing this purchase while projecting capital gains after a few years. Are you considering putting money down while…
Home loan cashback offers are incredibly tempting, especially now that interest rates are high. Cashback is usually part of mortgage refinancing. Unfortunately, two of the largest banks in Australia will no longer offer the incentive after June 2023, and experts predict other banks will soon follow. If a specific lender still has cashback, is it…
Not every Australian can be approved for a standard home loan. Some clients only have Low-doc and Lite Doc home loans as their best alternative – primarily self-employed individuals, small business owners, contract workers, and others who may not have access to the typical documentation banks require. Low doc and Lite doc loans, or “low…
In Australia, investment properties are allowed tax deductions from losses – called negative gearing. Negative gearing is a financial strategy that involves borrowing money to invest, typically in real estate or shares, intending to generate a return that exceeds the borrowing costs. It’s a concept commonly used by investors to leverage what a property costs…
Want to maximize your existing property? Australians have the option to use home equity to purchase an investment property and to fund small businesses. Stats note that home equity withdrawals amounted to roughly 4.65% of the country’s GDP. This resource can be used for numerous purposes, from injecting capital to investments to spending on general…
Owning a home may be straightforward for most Australians, but for some, moving into a new home could coincide with still paying off the loan in the old home. This is when bridging loans come into play. Bridging loans, also known as bridge financing, serve as a temporary solution that provides quick access to capital…
If you’re considering a SMSF home loan, you may have noted how complex the borrowing process can be. Indeed, it is an alternative method to financing home purchase because it gatekeeps your retirement savings that isn’t necessarily meant to be invested in property. From the stringent rules and regulations to the nature of the loan,…
Eager to know about your current home loan borrowing power? Find out the latest here. Applying for a mortgage is mostly necessary for Australians who plan to own a home. So how much is needed these days to be able to call yourself a homeowner? It can be difficult to tack on an exact amount…
For prospective home buyers, securing a home loan right away usually means that you check all the boxes from the lender’s perspective. However, not all have the privilege of having a clean credit report, and securing a home loan can be challenging if you have a bad credit history. Challenging, yes – but not impossible….
Families and individuals working towards saving up for a deposit need all the help they can get, as costs in homeownership continue to rise. One of several government initiatives is the First Home Guarantee Scheme, which aims to help prospective home buyers enter the housing market with just 5% of deposit. Let’s look at what…
Buying your first home is an exciting milestone, and in Australia, you have an array of loan options designed to assist first-time buyers in their journey to homeownership. Banks offer certain perks and incentives, and the government also has programs that provide financial support to eligible borrowers to fast-track the dream of owning a home….
If you’re a home buyer, taking stock of your property goals enables you to choose the suitable home loan that benefits your lifestyle. And first time home buyers may want to consider an owner-occupier loan that takes into consideration any future goals they may have. This type of loan is meant for borrowers who will…
Some homebuyers are set to construct their own homes. It’s a better sense of accomplishment for some to take control of the entire building process and see the property come to life as they go. Owner-builder home loans provide that pathway for individuals to be the main person overseeing the home construction. Owner builders take…
Planning to buy a home usually means coming up with the recommended 20% of the total value of your chosen property as the bank deposit. But what about those who are unable to save for that amount? The good news is that a no-deposit home loan can offer a viable pathway to homeownership. It allows…
When it comes to home loans, some borrowers may struggle to secure one for their chosen property due to limited savings or insufficient deposit. This is where a home loan guarantor can be beneficial in helping folks get approved for a mortgage. Let’s talk about what the guarantor home loan process is all about, how…
Today, almost every Australian is feeling the pinch when it comes to housing affordability. Higher interest rates and general inflation felt across the country means that those wanting to live in urban centers may struggle with home ownership goals. Constructing build-to-rent (BTR) or multifamily properties is one of the solutions to ease housing issues especially…
Acquiring a home is a significant milestone and for most Australians, the best way to finance this purchase is through a home loan. Once you’ve secured a home loan, the work of paying it off begins. Mortgage can easily overwhelm you if you don’t have a clear repayment plan; every tactic that could work should…
Home loans for doctors, medicos, specialists, and other health professionals do not vary greatly from what’s available for other professions. However, health care specialists have the edge due to the fact that they have higher income levels which they can leverage for better home loan rates. Doctors, specialists, dentists, and other healthcare professionals are considered…
Buying a property in Australia can sometimes involve significant costs. One of the larger costs is the initial deposit required by many lenders. Traditionally the deposit is 20% of the home price, but with Lenders Mortgage Insurance, prospective home buyers can put up a deposit of as low as 2 1/2 to 5%. Lenders Mortgage…
Granny flats, also known as secondary dwellings or bungalows, have gained popularity in Australia in recent years, as it is a practical housing solution that can be rented out if you wish to do so. Recent stats show that over half a million homeowners nationwide have the space to build a granny flat, potentially increasing…
Buying a home is no small undertaking. You will have to commit years and even decades to pay off the mortgage, and along the way there will be considerations for upsizing, downsizing or renovating. Most home buyers in Australia are interested in knowing about how long home loan repayments will be because let’s face it,…