Previously, only a deposit and a full-time job are the standard requirement needed to get a home loan, but not with this day and time. Today’s lenders are requiring much more.
What you need to get a home loan? (what lenders want to know)
Today’s financial instability has brought a prospective home-buyer’s complete financial history under the microscope, as home loan lenders try to determine whether they are ever going to get their money back. more…
Recently, a new report was released from Fitch Ratings, a global ratings agency which details mortgage performance by postcode, showed that mortgage delinquency rate in Western Australia has increased while Queensland has made history as Australia’s worst state for mortgage defaults.
The Fitch Ratings report showed that a rise of 1.99 percent, from 1.94 per cent, was being observed from the mortgage delinquency rate in the six months to March in WA while Queensland was recorded with the highest number of mortgage holders that are in debts at 2 percent. more…
With the spiraling energy prices, new regulations and a coming price on carbon, Australia’s property owners, managers and listed property trusts are now forced to look seriously at their energy usage and levels of investment into energy efficiency solutions.
The increasing prices in energy and water have also forced potential home designs buyers to look into the benefits of buying green houses.
As defined by Wikipedia, “a Green home is a type of house that is designed to be environmentally friendly and sustainable, focusing on the efficient use of “energy, water, and building materials.”” more…
It has been in the news recently that the banks in Australia are refusing to finance loans to people who are interested to buy flooded homes. Banks are snubbing and refusing to finance loans of shrewd would be buyers who are desperate to snap up a bargain in the post-flood Ipswich property market.
According to Brett McGrath, the Herron Todd White senior valuer, in spite of the recorded 3300 homes being written off and the 1700 house plans designs needing repair which were all affected by January’s disaster, there are still plenty of shrewd and desperate buyers who want to purchase these damaged and flooded houses. more…
With the increasing number of first-home buyers snatching up apartments and townhouses that may otherwise have been bought by investors, first-home buyers are now acquiring the benefits brought about by the sluggish Perth housing market.
According to the Real Estate Institute of WA, investors had lost interest in buying house & land packages due to the city’s over-priced properties; thus, decreasing competition and forcing down prices of house plans designs, particularly for multi-residential properties which usually attract investors. more…
