The majority of Aussies have their home loan with one of the Big Four banks but a simple switch could see them score big savings. The kicker? These savings are just “a step removed” from their current lender. Commonwealth Bank, Westpac, NAB and ANZ customers are paying a premium of up to 0.75 percentage points,
Increasing home loan interest rates in India have had repercussions on the demand for such loans. They have augmented borrowing costs, resulting in higher monthly interest payments for borrowers. Consequently, this has decreased affordability and reduced loan eligibility for prospective borrowers, especially first-time homebuyers. “It is advisable to choose a property that fits one’s budget
It is particularly beneficial for those senior citizens who require a consistent income source since the loan amount is not required to be repaid until the borrower either sells their home or moves out. What is a reverse mortgage? A reverse mortgage is a loan available to homeowners aged 62 or older, allowing them to
To gauge the government’s stance on home loan interest rates in Budget 2024, homebuyers and industry experts should closely monitor official statements, policy announcements, and economic indicators, says Atul Monga, CEO and Co-founder, Basic Home Loan. In an interview with MintGenie, Monga said that reviving expired incentives, such as tax breaks, is crucial for affordable housing.
As the year draws to a close, home loan rates once again find themselves under the spotlight. With whispers of potential fluctuations in 2024, a crucial question resurfaces for homeowners: Should we prepay our loans or prioritise investments? Both options boast distinct advantages, but the optimal choice hinges on a nuanced understanding of your personal
home loan, Property, financial plans, Loans Investing in a piece of property is an important financial decision and considering a second home loan demands careful analysis. The prospect of owning a second home may seem attractive but there are several important factors to consider before taking this step. Investing in home for the second time
The eight proposals are as follows: 1. Changing the criteria for government’s measure that reduces property transfer and mortgage fees to 1% and 0.01%, respectively, to cover property priced 5-7 million baht (from currently not over 3 million baht). Alternately, the measure should be applied to the first 3-million baht of a property priced at
When Satyen Joshi moved to Mumbai from Bengaluru five years back, little did he know that he would have to pay more than ₹50,000 per month as rent. He is now contemplating buying a property in the suburbs for around ₹2 crore. He has taken this decision at age 40 because he has the funds
Reverse mortgages are better suited for senior citizens who need a regular source of income, while Loan Against Property is a secured loan and can fund a wide range of requirements. Are you looking to access additional funds by leveraging your home equity? Reverse Mortgage and Loan Against Property (LAP) are two standard options to