Refinancing could save you thousands – and give you greater flexibility

It’s often said that Australians are more likely to divorce their spouse than switch banks. But with plenty of competition in the home loan sector, refinancing can be a good move. There are a number of reasons why you might want to refinance: you can consolidate debt from high-interest credit cards into a home loan with a lower rate of interest; you can release cash from your home loan equity for other major purchases; or you might want to simply save on your repayments by moving to a loan with a lower interest rate. What’s my rate? If you aren’t 100% sure exactly much you’re paying, how can you find a better deal? Luckily, finding out your interest rate can be as simple as logging on to you

You’ve won the auction – what happens next?

Congratulations! You’ve just bought a property at auction. Before you can move in, there are some things you need to do. Remember, it’s always recommended to seek legal advice when purchasing a property. Sale contract and deposit There’s no cooling-off period when you buy at auction, so you can’t change your mind after you put in the winning bid. The next steps are governed by state and territory legislation, but are largely the same nationwide – however please ensure you are aware of the requirements in your state or territory . In NSW, for example, Fair Trading NSW states you’ll need to immediately sign the contract and pay the deposit (normally 10%). The selling agent will have already s

Buying to rent on Airbnb: Pros and cons

There’s no denying that websites like Airbnb and Stayz have turned the holiday accommodation industry on its head. Anyone with a property, or even just a room to spare, can potentially make some handy cash from this new segment of the travel market. If you’re thinking of buying an investment property with the express purpose of listing it as a short-term rental, here are some things to keep in mind. Ask first, rent later Before you buy an investment property and sign on with a third party like Airbnb, make sure your planned short-term rentals will be legal. Check that your listing doesn’t breach any home owners’ association or body corporate rules and that you’re complying with applicable z

Herron Todd White - Month in Review May 2017

As we move into the second half of the year it’s been interesting to track our market’s movements. The property industry’s success is hinged to our economy and legislation, and one area that seems to be getting its fair share of attention is the investor sector. With finance becoming harder to come by, and a tightening of the legislation around foreign investors, the team at Herron Todd White thought it time to discuss the effect of investors on our markets. This is a collation of professional views on how investors operate around the country, and how much we rely on them. In the commercial section, they discuss industrial rents, so those in the sector can stay ahead. Head to page 33 to

RBA Interest Rate Decision August 2017

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Conditions in the global economy are continuing to improve. Labour markets have tightened further and above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy has picked up a little and is being supported by increased spending on infrastructure and property construction, with the high level of debt continuing to present a medium-term risk. Commodity prices have generally risen recently, although Australia's terms of trade are still expected to decline over the period ahead. Wage growth remains subdued in most countries, as does cor

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