Banks are wary of older first-time borrowers, unless they want finance for an investment property. Effie Zahos looks at how age affects your mortgage eligibility.
Property
Carrying out the right research before purchasing an investment property could mean the difference between making a loss and creating wealth. However, property research isn't always as straightforward as it seems. Here are some mistakes you should avoid as a property investor.
Trying to sell an investment property while it's rented? Don't be surprised if your tenant asks to leave when they find out that you want to sell.
Are you better off with a packaged home loan? Should you pay your mortgage weekly or fortnightly? We sort fact from fiction on these mortgage myths.
About 17,000 mortgages are refinanced every month around Australia, but many people focus only on the interest rate and don't consider whether they can redraw money or repay the loan early.
Erin and her husband own an investment property in Perth which is now worth less than they paid for it eight years ago. With rents falling, they ask Paul Clitheroe if it's time to cut their losses and sell.
Property prices may be struggling in most capital cities but longer-term investors needn't despair - there are plenty of "cash cow" suburbs that still deliver decent returns.
Labor promised to overhaul negative gearing if elected, but the potential for more downward pressure on house prices will be of significant concern to homeowners.
Retirees who plan to draw on the equity in their home for a reverse mortgage need to run the numbers first, warns Effie Zahos.
Many baby boomers who downsize into apartments are struggling to cope with noisy neighbours and dictatorial owners corporations running their own agendas, not to mention surprise special levies.
