Investment Properties

Fixed vs. Variable. Is it Time to Reassess?

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

Following years of ultra-low interest rates, discussion is rising amongst economists about a sooner-than-expected interest rate rise. The Reserve Bank of Australia has indicated that if economic recovery continues faster than expected, then the timing of interest rate rises would be brought forward from the RBA’s previous suggestion of 2024. Which raises the question, for the six million home loans... Read more

Foreign Person Surcharge on Residential Property Purchases

Written by Andrew O'Donnell, Director - Edney Ryan Legal

If you are classified as a foreign person and purchase residential property in NSW, you will have to pay an eight percent surcharge on the value of the property. This is in addition to any applicable stamp duty. It is important to note that you are generally classified as a foreign person, unless: You are an Australian citizen, or You... Read more

Know Your Property – Free CoreLogic Report

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

Property prices remain strong with the median price of a house in Sydney now $1.186 million, while the median unit price is $782,000, according to CoreLogic. Prices increased during May on the back of earlier growth this year. We are offering Edney Ryan Group clients a free Property Profile Report. Produced by CoreLogic, the report provides a comprehensive view of... Read more

Deferring Loan Repayments and Other Relief

Written by Tricia Williams, Manager - Edney Ryan Mortgage and Finance

Banks have outlined how they are supporting those affected by the coronavirus pandemic and its economic impacts. All members of the Australian Banking Association (ABA) will suspend principal and interest loan repayments for distressed small-business customers for six months. All four major banks (CBA, NAB, ANZ and Westpac) will also extend this to distressed home loan customers, enabling them to... Read more

Where in Australia is a Mortgage Less Than Rent?

Written by Tricia Williams, Manager - Edney Ryan Mortgage and Finance

With interest rates low, many Australian’s are looking to transition from renting to home ownership. Housing affordability continues to be a major challenge, however there are areas where home ownership could be a reality for renters. CoreLogic recently released data showing that more than a third of properties across Australia had estimated mortgage repayments that were less than weekly rental... Read more

By Shane Oliver, Head of Investment Strategy & Chief Economist from Oliver’s Insights, AMP Capital, 19th February 2020 Shane Oliver’s latest article addresses the concern that central banks are distorting market forces, leading to overvaluation of prices for assets like shares and property. Key Points: Shares are vulnerable to a short-term correction. But with inflation low, and as long as... Read more

Prices on the Move – What is Your Property Worth Now?

Written by Tricia Williams, Manager - Edney Ryan Mortgage and Finance

Talk of Australia’s housing market recovery is back, with our biggest markets – Sydney and Melbourne  – increasing property prices once again this month. For a concise overview of the Sydney Property Market’s latest performance, click here to watch a short video from CoreLogic. If you’re considering your options, now is a great time to get an estimate of your... Read more

Low Fixed Rate Mortgages – Not Always What They Seem

Written by Tricia Williams, Manager - Edney Ryan Mortgage and Finance

The record low interest rates we currently have in Australia has put borrowers squarely in the box seat when it comes to choosing a home loan. There are some highly competitive loans available as lenders eagerly battle for new business. However, it is important buyers are aware of the hidden dangers that may come with some of the cheaper home... Read more

How Your Credit Cards Affect Your Borrowing Power

Written by Tricia Williams, Manager - Edney Ryan Mortgage and Finance

In the last edition of our newsletter, we looked at how living expenses can affect a client’s borrowing power. This time around we’re looking at credit cards and, more importantly, the impact they have on your capacity to borrow. Why Credit Cards Affect Borrowing Power Owning a credit card can have a real effect on a person’s borrowing power. And... Read more

Potential reforms are currently being discussed, which, if enacted, could make the mortgage broker channel unsustainable – potentially forcing customers back to the big banks and cutting their access to smaller lenders and credit. Support your broker now. Visit www.brokerbehindyou.com.au