First Home Buyer tips: A guide to buying your first home.

Don’t buy a new home as your first home.
If you were buying a home 10 years ago, this would not make sense. But things are different today. Land prices are killing new home sales and only people that have made equity in the first home can build new today.

So my first advice to you is to buy a bargain established home. There are plenty to choose from and they are below replacement cost. You get more for less, and in less time.

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bank of melbourne

Westpac plans to drop the BOM on parochial Victorians

After all Westpac has pulled itself from near bankruptcy in the early nineties to be a contender Australia’s biggest bank. Mainly at the cost of its mortgage holders, during the Global Financial Crisis, and the “Banana smoothie” scandal. [Free publicity is good publicity, and who doesn't like a banana smoothie Gail, right?] So there’s a missed branding opportunity. “The Banana Smoothie Bank”. [smoothie in more ways than one it would seem]

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Home loan lenders want the biggest slice of your wallet

In the nineteen eigthies a local bank manager working out what I could afford to borrow divvied up my pay packet this way: “A third for the taxman, a third for me … and a third for you.” The rule-of-thumb that you can afford to devote about 30 per cent of your gross or pre-tax [...]

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If Obama is the answer what is the question?

If Obama’s the answer, then what is the question?
It’s the economy, Dummy!

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First home buyers grant increased three times for new homes and doubled for used homes

Kevin.Rudd’s increase of the first home owners grant is about shoring up jobs and the economy, and increasing home loan activity for buyers and sellers.

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Council rules hit house costs

EXTRA rules imposed by local councils such as those on increased ceiling heights and noise protection can add as much as 14 per cent to home building costs.

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Banks lead slide on Wall Street under non performing home loan debt

In a see sawing day on Wall street, US stocks finished lower for for the 5th straight day as the meltdown continues, with US Banks leading the route. Mr Mortgage says that are are hopes that Australia’s market will be higher on Monday on Futures trades, but that does not take into consideration people ready [...]

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Rate cut may help with the rent

Tenants that rent homes across Australia look set for a short-term reprieve from rising rental prices, with analysts expecting landlords to pass on the benefits of home loan interest rate cuts.

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Major regional home loan lender in industrial trouble.

The St George Bank, a regional Australian home loan lender, has it hands full with industrial relations trouble on its moves to sack local workers and outsource the work to low cost overseas workers. The Finance Sector Union (FSU) have had a meeting with St George Bank management , after staff who are being made redundant refused to train [...]

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Will the US Nationalise its Banks to save its economy?

Is the US Congress planning to Nationalise its Banks? Its looking a lot like socialism [some say communism] to many on the republican side of US politics, but deregulation and lax practices and auditing have left many US and European banks without liquidity, and that’s the big problem that isn’t going away according to Mr [...]

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Interest rates on hold till 2007, says the National Australia Bank [NAB]

According to the National Australia Bank, [the NAB] its latest analysis of the business climate consolidates the view that official interest rates will remain on hold for the rest of the year. For September, the bank’s measure of business conditions has recovered just a little after two months of decline. A pick-up in the retail sector has been [...]

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