All You Need to Know About Bank Valuations

Oct 22, 2021 10:18:31 AM

Buying a home in Australia? Your lender will likely require a bank valuation to calculate the loan to value ratio (LVR) of your home loan. Bank valuations help lenders weigh up the risk of lending. A higher LVR means more risk for the lender, which could impact the amount you may be able to borrow. In this article, we’ll take a look at some of the factors making up a bank valuation, as well as the impact they can have on your borrowing capacity.

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Topics: Mortgage Broker, First Home Buyer, Home Loans

Capital Gains Tax When Working From Home

Oct 20, 2021 11:26:07 AM

Whether you’re working from home out of necessity or using your home as your principal place of business, it’s important you’re clear on both the tax implications – Capital Gains Tax on the sale of your property - and tax deductions that could impact you. Here’s a guide to each of these scenarios.

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Topics: Mortgage Broker, COVID-19, Home Loans

Are You Being Penalized For Sticking With Your Lender?

Oct 14, 2021 1:11:05 PM

From electricity bills to phone plans, car insurance through to home loans, sticking with the same provider year after year could mean you’re paying “lazy tax”. Lazy tax is the penalty many consumers and homeowners are paying as a result of being complacent, not shopping around for the best interest rates, and failing to refinance when rates work in their favour. If this sounds like you, here are two ways to avoid paying lazy tax.

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Topics: Investment Property, Mortgage Broker, First Home Buyer, Home Loans

The Value of Refinancing

Sep 13, 2021 11:51:05 AM

Australians are missing out on the full potential of refinancing. Results from a recent study into borrowers’ understanding of refinancing, and their reluctance to refinance, has revealed a number of startling results. And if you need a reminder about the value of refinancing, here’s a case study from mortgage broker, Alisha Scappin who recently helped her client save $65,000 by refinancing a home and investment property.

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Topics: Mortgage Broker, Financial Health, Refinancing

How a Redraw Facility Works

Jul 21, 2021 12:51:07 PM

Getting a home loan with a redraw facility is a useful and flexible financial tool. Any extra funds you pay into your home loan, can be withdrawn when needed, to cover emergencies or pay for unplanned expenses. At the same time, those extra funds save you money too, as any extra repayments on your loan also lower how much interest you’re charged. To find out if a redraw would suit your home loan, here’s more on how a redraw facility works.

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Topics: Mortgage Broker, First Home Buyer, Home Loans

5 Things to Consider When Buying Your First Home

Jul 20, 2021 1:14:59 PM

Buying a first home is a significant milestone that takes commitment to saving, careful decision making, and considered planning. The biggest hurdle for most first home buyers? Saving a deposit. Depending on where you are in Australia, it can take as long as eight years to save enough, all the while chasing down rising house prices which means having to save even more! If you are ready to buy your first home, here are a few things to consider.

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Topics: Mortgage Broker, First Home Buyer, Home Loans

5 Mistakes to Avoid When Buying a Car

Jul 2, 2021 8:46:42 AM

Buying a car isn’t like buying an item of clothing! You can’t return it if you don’t like it. And unless there’s an actual fault, the seller has no obligation to refund you or to accept any liability if you’ve simply changed your mind. Because the car buying process is fraught with opportunity to make bad decisions and even lose money, it helps to know in advance what pitfalls you may face. Here are 5 mistakes to avoid when buying a car.

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Topics: Insurance, Mortgage Broker, Financial Health

3 Financial Rules of Thumb Worth Following

Jul 2, 2021 8:41:40 AM

Personal finance is full of rules of thumb about saving, spending, paying off debt, and budgeting. These well-known financial guidelines help us apply proven methods for saving, investing, buying a home and even planning for retirement. They can be useful shortcuts for making quick calculations and decisions about finance. In this article, we’ll look at 3 financial rules of thumb that we believe are worth incorporating into personal finance decisions.

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Topics: Mortgage Broker, Financial Health, COVID-19

Lending to SMSF’s and the Current Investment Property Market

Jun 22, 2021 3:05:20 PM

During the COVID-19 pandemic, many people began taking stock of their lives, re-evaluating their lifestyle and financial position, with particular attention to their superannuation and its investment potential. This focus, combined with factors like a resilient property market, poor returns on cash deposits, and tax advantages, have led to the growth of self-managed super funds (SMSF). In this article, we’ll take a closer look at the lending options available to SMSF’s as well as the current investment property market.

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Topics: Investment Property, Mortgage Broker, Home Loan Rates

How Lenders Set Variable Interest Rates

Jun 22, 2021 3:01:38 PM

With historically low interest rates, many Australian homeowners choose to structure part, or all, of their home loan on a variable interest rate. Fluctuations in the variable interest rate mean sometimes mortgage repayments are lower, while at other times a higher repayment is charged. If you’ve ever wondered why the variable interest rate differs from lender to lender, or even how variable interest rates are calculated, here’s a simple explanation.

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Topics: Mortgage Broker, Home Loan Rates