The Credit Score Blog
A blog about mortgages, loans, interest rates, tips and tricks.
You open up the real estate app on your phone, scroll through a few listings, and then there it is: the home of your dreams, ‘added 1 hour ago’. So just how long do you typically have to act in this hot market?
Well, let’s just say it definitely helps to have spoken to us about pre-approval if you’re actively house-hunting right now.
Hint: it’s not very long
The COVID-19 loan deferral program and credit reporting amnesty is now over, which means banks will report any late repayments on mortgage or small business loans to credit agencies unless you’ve entered into a hardship arrangement.
If you think you might be financially impacted by the end of JobKeeper, then check out our latest article on how to avoid late repayments being recorded up on your credit file.
House prices could jump 17% in 2021 and mortgage rates are set to rise much sooner than expected, ANZ Bank has tipped.
Let’s look at how soon they think it’ll be before fixed rates rise
The property market is going through a boom phase, which means housing affordability is getting tougher.
So how much does the average Australian household need to put towards their monthly home loan repayments in the current market? Let’s take a look.
Thinking of building, buying a new home or renovating?
The HomeBuilder scheme ends on March 31, which means you’ve got less than two weeks to take advantage of the $15,000 grant.
Did you know more than a third of Australian homeowners are considering putting their property up for sale so they can take advantage of the current boom in prices?
Here’s how to get your property looking spick and span for prospective buyers.
Time to roll up those sleeves
We haven’t seen this kind of fast-paced home value growth since Guy Sebastian robbed Nollsie to win Australian Idol, Roger Federer won his first of 20 grand slams (against the Scud at Wimbledon), and people primarily used their mobile phones to make calls (well, and play Snake).
Let’s look at why home values are growing so fast
Things are starting to look better for small business owners across the country with just 5% of deferred business loans yet to resume repayments. Meanwhile, there are signs that business credit demand is improving, especially when it comes to asset finance.
Let’s take a look at why business confidence is improving
The first home buyer market had a bumper year in 2020 due to modest declines in property prices, reduced investor activity, and a range of government incentives.
But with those advantages tailing off, how will first home buyers compete in 2021?
Australia’s housing market is on the “cusp of a boom”, with house prices set to leap 16% over the next two years, according to the Commonwealth Bank (CBA).
Here’s why they think property prices are primed to take off.