At FinancePath, we understand the challenges homeowners are facing with rising costs of living and mortgage repayment pressures. However, amidst these financial stresses, there’s some positive news for property owners. National property prices have continued to see growth, providing homeowners with potential opportunities.National property prices continue to riseIn October 2024, data from CoreLogic revealed that national property values increased by 0.3%, marking the 21st consecutive month ...

When you decide to loan money to a family member, especially for something as significant as purchasing a property, it’s essential to formalise the agreement to avoid misunderstandings. A family loan agreement not only protects both parties but also ensures that the expectations around repayment are clear from the start.In this blog, we’ll walk you through how to write a family loan agreement and what elements to include to make sure it’s legally binding and beneficial for everyone invo...

At FinancePath, we understand that refinancing your home loan can be a big decision. With rising living costs and fluctuating interest rates, many Australian homeowners are looking for ways to reduce their financial strain and optimise their mortgage. In fact, recent data shows that 73.7% of all new home loans in Australia were written by mortgage advisers during the June 2024 quarter — the second-highest result on record. So, why are so many Australians turning to mortgage advisers to refi...

With last week’s announcement, the Reserve Bank of Australia (RBA) decided to keep the cash rate at 4.35 percent. Now, all eyes are on when the first-rate cut might happen.Chris Collard, Director at FinancePath, believes that a future rate cut will make a big difference in boosting confidence among potential buyers. “While a rate cut would give existing borrowers some extra cash flow, the biggest effect would be on confidence for those thinking about buying—whether they’re looking for...

Homeowners across Australia are eagerly awaiting a potential cash rate cut from the Reserve Bank of Australia (RBA), which has remained steady at 4.35% since November 2023. With interest rates in other countries, like the US, Canada, New Zealand, and the UK, starting to drop, many are hopeful that the RBA will soon follow suit.Will the RBA cut rates soon?Despite some optimism following a 0.50% rate cut by the US Federal Reserve last month, the RBA has maintained its restrictive monetary polic...