For individual homeowners, a mortgage is often their single largest source of debt and has the greatest effect on their finances, and their ability to stay solvent through wage decreases or wage losses. For lenders, mortgages are typically the most significant asset on their retail banking book, which means that any changes in originations, repayment schedules, and default rates will have significant impacts on their profitability and liquidity.
Great news for those still looking to build with the announcement on 29 November that the HomeBuilder scheme, which provides grants for home builders and renovators has been extended to 31 March 2021. The extension is expected to see a further 15,000 construction projects under the scheme.
Great news for Australians dreaming of buying their own home. The Federal Government’s new HomeBuilder scheme provides eligible owner-occupiers with a grant of $25,000 to build a new home or substantially renovate an existing home. This will be a welcome relief to many Australians and the country’s economy as it tries to navigate its way out of the current health crisis.
Making home ownership easier – the First Home Loan Deposit Scheme
Heard about the Australia Government’s new first home buyer deposit scheme, but not sure if you qualify or completely understand what it means for you? To help you, we’ve pulled together a brief overview of the Scheme and provided some useful links to help you on your way to home ownership a little more quickly.
Another option chosen by some purchasers is to keep their current home as an investment and upsize to something larger. This can provide financial benefits, however, we recommend you speak to your financial advisor about your options before making any decisions.
EVER thought about buying a house with a mate? How about 1400 homes?
A Geelong firefighter and a bus operator — who took a 15-year gamble on a potential development site — are the owners of Geelong’s latest housing estate.
Golfing buddies Geoff Mays and Gary Hodgson — both lifelong residents of the Belmont and Highton area —bought the site of more than107ha in 2001.A decade and a half later, plans to turn the area into a1400-lot estate at Armstrong Creek are now under way.