The Reserve Bank of Australia (RBA) has cut the cash rate, and more cuts are expected in 2025. All big four banks anticipate at least two cuts this year, with some predicting up to five reductions. So, should borrowers choose a variable home loan rate, a fixed one, or a split rate? The answer depends on your priorities.Understanding your options:Variable home loansA variable home loan rate moves up and down with market interest rates. If the RBA cuts the cash rate again in 2025, your lender m...

Buying an existing home is a significant investment, and it's essential to ensure that the property is in good condition before making a purchase. A thorough home inspection can help you identify potential issues that might require costly repairs down the line. By knowing what to look for, you can avoid unexpected renovation costs and make a more informed decision. We will walk you through the key things to look for during a home inspection, helping you move into your new home with confidence....

Mortgage stress occurs when homeowners struggle to meet their mortgage repayments, often when over 30% of their income goes towards their home loan. Rising living costs can worsen this situation, making it essential to understand and manage mortgage stress effectively.Causes of mortgage stressInterest rate changes - higher rates increase borrowing costs.
 Job loss or reduced income - changes in employment can impact repayment ability.
 Personal circumstances - eve...

When you're looking for a new home, one of the biggest decisions is whether to build a new one or buy an existing property. Each option has its own benefits and challenges, and understanding these can help you make the best choice for your situation.Building a home lets you design everything to your liking, from the layout to the finishes. You might save on stamp duty and qualify for grants if you're a first-time builder. However, building can take a long time, face delays, and come with unexpe...

Stamp duty is a significant tax imposed by state and territory governments on property transactions. Understanding this tax is crucial for making informed financial decisions.Stamp duty, also known as conveyancing or transfer duty, is a tax based on the property's value. Rates vary by state, property type, value, buyer status, and intended use.Stamp duty rates across AustraliaEach state has unique rates and exemptions. For example, New South Wales offers exemptions for first-time buyers, while...