With interest rates on the move, many people are shopping around for home loans.   If you’re considering refinancing, it’s a good idea to be aware of a few pitfalls when doing your research. Here are six mistakes to avoid.  Mistake #1: Only looking at the interest rate  Sure, getting a more competitive interest rate is appealing, but there are other factors to consider when comparing loans. For example, you may benefit from features such as an offset account...

Finding it difficult to enter the property market in a location you love? Have you considered rentvesting? It might just be the answer for renters who want to live in a location they love, while still entering the property market in an area they can afford. Read on to hear FinancePath Director, Chris Collard’s, thoughts on the pros and cons of rentvesting and advice on the best places to buy. The pros and cons of rentvesting So, why do people rentvest? According to Chris, one of the...

If you took advantage of record low interest rates in 2020 and 2021, it’s time to put a plan in place to manage what could be a significant change in your home loan repayments upon expiry of your fixed rate loan. What happens when your fixed rate loan expires? Your interest rate will revert to a variable interest rate and as a borrower who took advantage of historically low interest rates your interest rate may increase by between 2 - 3%. On a $500,000 loan 30-year loan, a 3% increas...

Are you considering buying an investment property in 2023? The word on the street is that 2023 will be the year savvy property investors re-enter the market, with some experts saying all the right ingredients are in place to create opportunities for strategic investing. Let’s take a look. Why now could be a good time to invest Property prices are coming down in many markets, while rents are on the rise. Rents surged by a record high of 10.2% in 2022, reaching a median of $555 per wee...

The new year is when many of us hit the reset button. It’s a chance to reflect on the past 12 months, reassess priorities and set new goals. If you’re looking to create positive financial habits in 2023, here’s some tips to help secure control of your money. Create a budget you can stick to Extreme changes to your spending habits may appear to deliver immediate results, but they can be difficult to maintain over the medium and long term. Focusing on a range of budgeting ...