Tips for New Home Buyers

Deposit – As a general rule, an owner occupier will require a minimum 5% of the property purchase price as a deposit. The bigger the deposit you can put together, the better as it reduces your home loan size and can eliminate the need to pay Lenders Mortgage Insurance (LMI). First Home Save Accounts – A first…

Don’t Accept Early Exit Fee’s

Home loan customers looking to switch lenders should never accept being charged substantial early exit fees, says leading mortgage broker Priority Lending. Priority Lending Leura broker, Catherine Salat, said any lender trying to charge an early exit fee should be challenged as federal government changes introduced on July 1, 2011, decreed that customers shouldn’t be…

Lower Rates Encouraging Property Investments

Consumers are being encouraged by a lower interest rate environment to invest in the property market, a national survey has found. The Priority Lending poll which asked “Are you planning to invest in property over the next 12 months?’ found 88 per cent of respondents were looking to buy real estate. Fifty one per cent…

RBA Takes Out Insurance Policy

The Reserve Bank of Australia (RBA) has taken out an insurance policy against a potential global economic disaster by slashing official interest rates for a second successive month, says leading mortgage brokerPriority Lending. Priority Lending Corporate Spokesman Paul Smith said the RBA lowering its cash rate from 3.75 per cent to 3.50 per cent highlighted its…

RBA to Stay on Sidelines: Survey

The Reserve Bank of Australia (RBA) is likely to return to the sidelines and leave official interest rates on hold this month, according to a survey by leading mortgage broker Priority Lending Priority Lending Corporate Spokesman Paul Smith said a survey of the company’s mortgage brokers found 55 per cent expect the RBA to keep…

First Home Saver Scheme Take Up Takes off

Take up of the federal government’s $1.2 billion First Home Saver Account (FHSA) has soared with a 72 per cent increase over a 12 month period, according to leading mortgage broker Priority Lending. Priority Lending Corporate Spokesman Paul Smith said the latest figures from the Australian Prudential Regulation Authority (APRA) showed that as of March,…

Time Running Out for First Home Buyers

Generous first home buyer and stamp duty concessions in four states and territories are due to wind up at the end of the current financial year, according to leading mortgage broker Priority Lending. Priority Lending Corporate Spokesman Paul Smith said four schemes end on June 30 and two will finish on July 1 in a…

More RBA Stimulus Needed

The consumer response to the latest interest rate cut by the Reserve Bank of Australia (RBA) has been modest and further stimulus is needed, says leading mortgage broker Priority Lending. Priority Lending Corporate Spokesman Paul Smith said the RBA lowering its cash rate on May 1 by a half percentage point to 3.75 per cent…

Priority Lending Takes On Rivals in TV Ad Campaign Blitz

Leading independently owned retail mortgage broker Priority Lending is launching a year long national television campaign this weekend with brokers as the stars. Australia’s largest independently owned retail mortgage broker will feature two television commercials as well as a series of market updates to run during news segments. Priority Lending Executive Chairman Sam White said…

Paying Off Your Home Loan Faster

Do you feel that you may never pay off your current home loan? We have five quick tips on reducing the size of your mortgage. The faster you can pay it off the sooner you will have more funds available to improve your lifestyle or save for that well-earned retirement. Offset Account: If you keep your…