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September 2015

5 Simple Tips for Getting in Control of Your Finances

It’s incredibly easy to lose your grip on your finances. Once it happens, it’s only a matter of time before things start to spin rapidly out control. Don’t allow yourself to be one of the millions of people, who are struggling to keep their heads above water. If you know how, you can regain control of your finances and live a stress-free life, without constantly worrying about how you’re going to pay your bills. Cut up Your Credit Cards Credit cards can be a useful tool for rebuilding your credit rating. However, if you’re looking for financial help, credit cards …

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3 strategies for repaying interest only loans – How to make it work for you

There is a lot to think about when it comes to your home loan. One financing option worth considering is to opt for an interest only loan. This means that you make repayments to cover the interest only on the principal amount over the lifetime of the loan. However, there are both benefits and disadvantages that need to be taken into account if you are considering this option. There are also helpful strategies that can be put in place to make this option work for you. Weighing up the benefits Having an interest only home loan will reduce the amount …

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Choosing the right mortgage for your investment property

Are you starting a property portfolio? Choosing the right mortgage can be a life-changing decision, so the first step is to ensure that you find an investment loan that is going to work for you throughout the life of the property. Below are a few tips to help you make the right decision when mortgaging your investment property. Shop around The point of having an investment property is to invest your money in order to make more, so it is essential that your mortgage is as affordable as possible to allow you to spend less and make more. Don’t be …

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APRA changes – what are they and what do they mean for me? Part 2

Following on from our last post on APRA changes, you would be aware that APRA has requested some changes to investment borrowing parameters. These changes are now in effect, resulting in many adjustments in the banking sector. You may have received a letter from your lender, informing you that the interest rate on your investment loan will increase. Please note: this rate rise is taking place across the board on all investment debt, with most lenders. A stricter borrowing policy – 80% lend on investment (so you need to have saved at least 20% of the purchase price), means that …

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