Interest rate update, 5th October 2022
The Reserve Bank increased the official interest rate by 0.25% yesterday taking it to 2.60%. While this rate rise is lower than what many economists forecast, the Reserve Bank indicated in their press release that it’s probably not the last. “The Board is committed to returning inflation to the 2–3 per cent range over time. Today’s increase in […]
RBA increases the cash rate and the big banks follow. Published June 2nd 2022
After 11 years of either no rate changes or rate reductions, the RBA increased the cash rate by 0.25% to 0.35% on May 3rd. For many home loan borrowers, this will be the first rate raise they have ever experienced. For the past few weeks, there has been no shortage of news coverage about the […]
What are first home buyers grants?
The First Home Owner Grant (FHOG) is a lump sum of cash funded by state governments to help with the purchase of your first home or block of land. It does not need to be re-paid. Because it is funded by state governments, the actual amount of the grant is different in each state, and […]
Are you eligible for the First Home Buyers Grant ?
While the rules vary between states, the basic First Home Owner Grant conditions are: You must be a permanent resident or an Australian citizen. If you’re co-buying with someone else, at least one of you must be a permanent resident or Australian citizen You must not previously have owned or co-owned a home in Australia […]
What sort of loan is right for me?
When it comes to choosing the right loan for you, a low interest rate is not the only thing to consider. There is a range of loan features that make managing your loan easier and sometimes the benefit of a particular feature is essential for your personal circumstances. We’ll talk to you about the types […]
What is the process of applying for a loan?
We take care of the loan process for you on your behalf. We are home loan experts and it’s what we do – very well. 1. Book a meeting with CFS In your first meeting, we’ll listen to your situation and get a strong understanding of your needs. We will run scenarios on what you […]
What is a pre-approval and why is it so important?
House hunters: Preparation is the key to a successful and smart result! Don’t leave your finances to the last minute… save yourself stress and anxiety by applying for a pre-approval now. Most pre-approvals generally last for three months – provided your application circumstances don’t change. Know, upfront, how much you can borrow before you start […]
Refinancing and what to consider
One of the main reasons to refinance is to save money on your home loan. However, switching to a loan with a cheaper rate may not put you in a better financial position if the costs involved outweigh the interest rate savings. Court Financial Services will always crunch the numbers, taking into account fees and […]
CFS Home Loan Health Check
The CFS Home Loan Health Check reviews your loan against the market to identify genuine opportunities to save you money. We say genuine because the savings available need to be worthwhile even after you take into account all costs and fees. We also consider the features and benefits associated with the loans to ensure refinancing […]
How much can I borrow and how much will my repayments be?
How much you can borrow will depend on your monthly income, your living expenses and the amount of deposit you have. The exact amount you can borrow varies from lender to lender. Court Financial Services can give you an estimate in your initial meeting, and help you determine a level of repayments that are suitable […]
