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Borrowing

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Breaking the debt cycle

Getting into debt can be a little bit like stepping onto quick sand. Before you know what’s happened, you’re up to your eyeballs and feel helpless. But it doesn’t have to be that way.

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Tips for buying your first home: what the banks won’t tell you

When you are about to take out a mortgage and want to ensure you keep costs to a minimum the first thing you can do to put yourself in a good financial position is save more than the standard 20% of the purchase price as a deposit.

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Be smart with your mortgage - use an offset account and a redraw facility

​Around 69% of all home loans in Australia have a redraw facility, while 40% have an offset account. Some have both. So who’s acting in their own best interests? Before we answer that question and offend you, let’s put them under the microscope.

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Finding a lender who cares about your best interests

​So you don’t make a financial misstep like buying a property at auction only to find you can’t get a loan for the amount you need, it’s better to get your loan organised before you start turning up at property inspections and auctions...

Understanding loans

Choosing the right loan has the potential to save you thousands of dollars in repayments, fees and interest over the life of your loan. To make an informed choice you need to understand the different types of home loans you’ll come across

Understanding the First Home Owner Grant

Let’s face it, the current property market is not making it any easier for first home buyers - and any help is most welcome. So if you’re currently thinking about buying your first home you need to know about the First Home Owner Grant (FHOG).

Be smart with your mortgage - use an offset account and a redraw facility

​Around 69% of all home loans in Australia have a redraw facility, while 40% have an offset account. Some have both. So who’s acting in their own best interests? Before we answer that question and offend you, let’s put them under the microscope.

Interest Rates 101

Everyone talks about interest rates. But how exactly do they work? Why do they change, and how do they affect you as a consumer or homeowner? Let’s start with some definitions of the main terms you’ll hear in discussions about interest rates.