Refinancing is moving your business away from your current bank and generally requires a full application with income verification’s and valuations. Until recently, clients have baulked at this given the property values, however recently we have seen keen clients and a very competitive market encourage this activity again. As a broker we have to see … Continue reading “Refinancing”

This month’s historic cash rate cut by the Reserve Bank of Australia should encourage borrowers to review their current loans. Banks and other lenders would be competitive in attracting new customers in the wake of the RBA’s 15 basis point cut, taking the official cash rate to just 0.1%. Interest rates will remain low for … Continue reading “RBA Rate Announcement”

The biggest changes to lending in Australia are being debated right now, and the winner could very well be first home buyers. It’s all come about because the treasurer says lenders have become too conservative, and he wants them to loosen up. Today, under the current laws, lenders are required to conduct rigorous risk assessments … Continue reading “Borrowers could have better odds”

Is it your dream to live in your own home? Buying your dream home is an exciting new beginning into the next phase of your life. But it also comes with responsibility – in planning for it over many years, and in saving for a home deposit. There are major decisions to be made and … Continue reading “Your game plan for saving for a Home Deposit”

A certain “set and forget” mentality slips in with mortgages. Money leaves your account to nibble on your mortgage. Meanwhile, you get on with other things. But here’s the question — if you have an interest only mortgage (IO) when does it switch to principal and interest (P&I)? Don’t know? Well, you’re not alone. This … Continue reading “This is in your interest”

There’s a land rush happening across Australia bolstered by grants and incentives, and premium house prices. Lofty property prices – thanks to general scarcity of stock and buyers making the most of low interest rates – and a raft of compelling building and first home buyer incentives have turned the tide on the types of … Continue reading “Why so many Australians are building rather than buying in 2020”

Just to recap on the recent Federal Budget, there are five key things you need to know that may put money back in your pocket: There’s help for first home buyers. Affordability continues to plague millennials, Gen X and Ys. So, the government is extending its First Home Loan Deposit Scheme to allow another 10,000 … Continue reading “Five things you need to know about the 2020-21 budget”

I’m not sure what the collective noun is for refinancers; a review, a revolt, a rave… whatever it is, there are record numbers of them. We have more time at home to look at those nagging “life admin” tasks and we’re also realising that – in such a strange economic climate – we really don’t … Continue reading “Why everyone’s doing it”

Lenders are in love with borrowers who show good financial habits, particularly now in a shakier-than-usual economy. Good habits are gold. And it’s never too late to start, even if business is down, your hours have been cut back, or you’re receiving government assistance. I can help you get into a position where lenders still … Continue reading “How to get lenders to fall in love with you”

These days, during the COVID economy, the majority of my home loan enquiries are coming from two types of Australians, depending on how COVID has affected them. In camp one are those whose circumstances haven’t changed or have improved during COVID.  They are ready to capitalise on record low rate and government grants. In camp two, there’s those … Continue reading “Two letters, but a world of difference”