The role of a mortgage broker is to guide you through the home loan journey and help you choose the right product or feature for you.Our role is to work closely with a panel of lenders — from the big banks, to the smaller lenders you may not be as familiar with — to ‘shop’ the home loan market for you. But our job isn’t just about comparing home loans. We stay on top of market trends and changing lender requirements, so you can be confident in the recommendations we provide’.
Even before you are ready to buy a home, we can offer valuable support by explaining the home buying process and working with you to ensure you achieve your property goals.
How does a mortgage broker save you money?
Some people choose to stick with the bank they already have accounts with — but they could be missing out on a competitive home loan option elsewhere.
Brokers have up to date knowledge of the home loan market — different types of lenders, new loan options, the conditions attached to a low-rate loan, and more. This just means your mortgage broker can find competitive deals that are right for your needs, present you with the options, and help you avoid more expensive or unsuitable loans.
How does a mortgage broker help me secure loan approval?
As a home loan expert, your mortgage broker knows what it takes to get your home loan application over the line with the right lender.
They’ll explain any steps you may need to take to tidy up your finances before applying for a loan and identify any possible red flags that could work against you. They’ve helped many others and know what to look for — chances are, they could find something you may have missed.
What do I need to prepare when meeting with a broker?
It’s never too early to start planning for your first or next home. If you’re at the very beginning of your home buying journey, just bring along a list of the questions you’d like to ask.
If you’re closer to buying a place of your own, it’s a good idea to gather banks statements, payslips and other necessary documents that will give your mortgage broker a better idea of where you stand financially. After reviewing your documents, your mortgage broker will also be able to explain any steps you could take to help your home loan application get the thumbs up with the right lender.
With the support of your broker, you’ll be well-placed to understand more about how buying a home works, and what you can do to start making your property goals a reality.
Call us for a chat today.
If you’re looking to buy your first home, purchase your next one, invest in property or refinance your current home loan just let us know. We would love helping you achieve your home ownership, so please get in touch.
Happy new year! Have you taken your first steps to achieving your goals in 2021? While we probably can’t motivate you to eat better or exercise more, as your mortgage broker, we can help you achieve your property goals!Don’t know where to start? Check out these property goals and how we can help you achieve them.
Buying your first home
This could be the year to buy your first home! Isn’t that exciting? Home values have increased over the last decade while mortgage rates have dropped to historic lows, so now could be the right time to consider taking the plunge into the property market. We can help you by:
Upsizing, downsizing, sea-change, treechange – there are many reasons and motivations for moving into your next home this year. With so many options it can get a bit overwhelming. Even if you already know how to purchase a home, you’re bound to have questions when buying your next place. To make sure you grab a bargain, you can ask us about:
If you have no plans of moving into a new home yet, purchasing an investment property is also worth considering. Save time planning and researching by speaking to us to help you with:
You can maximise your borrowing capacity by managing your expenses and getting on top of your cash flow. As your mortgage broker, we can help you in this area by:
If you’re thinking of renovating or expanding your current home this year, here are the ways we can help you in this area:
Achieving your goals starts with having a great plan. And we’re ready to help make your 2021 goals a reality. Get in touch and let’s work together in realising your dream home or investment property.
Welcome to our first newsletter for 2021. Despite all the challenges caused by the pandemic, the property market finished the year on a strong note in 2020. Read on to find out how the property market performed near you and what’s in store for 2021.
Interest rate news
Last year, the cash rate decreased three times due to the COVID-19 pandemic. The RBA didn’t meet this month, extending the seriously low official cash rate of 0.10 per cent until at least the next meeting on 2 February.
The RBA Board said that low rates will likely stay for a while in order to aid the economy’s recovery by:
Home value movements
Summer is in full swing as the Australian housing market gained momentum through the end of 2020 – annual home values finished the year 3.0 per cent higher nationally. All capital cities recorded a higher rate of capital gain except Melbourne in 2020. Darwin saw the highest annual capital gain at +8.99 per cent dwelling value increase. Regional housing market conditions surged in 2020 as remote working opportunities, lifestyle properties and lower density housing options became more popular.
Housing values continued the recovery trend on its third month, recording a 1.0 per cent rise in all capital cities and regional areas in December. The biggest jump was seen in Darwin where values increased by 2.34 per cent. Dwelling values increased by more than 1.0 per cent in Adelaide (1.10 per cent), Perth (1.06 per cent) and Brisbane (1.06 per cent). According to CoreLogic’s Head of Research, Tim Lawless, the rebound in housing market activity and dwelling values is not a surprise given the rapid and substantial monetary and fiscal response from the Government and policy makers.
CoreLogic data shows that inventory levels remain low throughout 2020 despite of the increase in the number of new listings in spring and early summer. This means that there are more active buyers than new listings being added to the market. “Despite new listing numbers being consistently lower relative to their 2019 levels, the estimated number of home sales were almost 8 per cent higher though 2020 compared with the 2019 calendar year. This imbalance between effective supply and demand is another factor that has supported a rise in housing prices as a sense of urgency returned to the market with home buyers outnumbering sellers, most areas around the country represent a seller’s market.” Mr. Lawless said. The data also shows that homes are selling faster and vendors are discounting their prices less.
What’s in store for 2021?
2020 has experienced extremes due to COVID-19 but the property market showed resilience through the economic downfall, ending the year with annual home sales about 8 per cent higher than a year ago.
With the RBA keeping the low interest rates for a while in order to aid the economy’s recovery, this is good news for new home buyers, property investors and current home owners alike. 2021 will be a great time to focus on paying down your mortgage whilst interest rates remain low. If you’ve had your home loan for a while, now is the time to talk to us about a home loan health check.
Remember, we’re here to help you to manage your mortgage and support you to achieve your property goals in 2021. Please give us a call to chat about your plans. We’d love to hear from you!
If you recently got married or are getting married soon, congratulations! What an exciting time for you and your partner.
Married life is not just a new chapter in your everyday life, it is also a new chapter in your financial life. Thinking about money and finances amidst the excitement of getting married may not be as fun and glamorous, but it is important to consider the financial opportunities and challenges that come with marriage.
Here are some suggestions for getting your finances in order when you’re engaged or a newlywed:
Talking about these matters with your significant other and making decisions even before getting married or early on in the marriage can help prevent unexpected situations in the future. As your broker, I am here to help you to get your finances in order and make informed decisions.
Money doesn’t buy happiness, but having sound financial habits and plans in place can contribute to living happily ever after.
Get in touch today and we can work through it together
During these uncertain times, you might have questions concerning your property investment(s) and your goals. We are always here to help you navigate your options and present opportunities during this time.
Like many, plans to grow or improve the value of your property portfolio this year may be put on hold. You might want to consider ways to secure a more competitive interest rate or a loan with features that can improve your interest savings or cash-flow, like offset accounts and redraw facilities.
Loan refinancing is a strategy used by property investors to access funds – the right time to do it largely depends on your strategy, plans and equity.
Here are some key considerations:
We can work with you to ensure you have all the information you need to make a fully informed decision. If the time is right for you to take the next step in your investment journey, get in touch today and we’ll help you find the right refinance option to help you achieve your goals.
Amid all the recent change it is hard to believe that tax time is approaching again! Was that a groan? We understand and we can help. If you’re like most property investors, trawling through receipt upon receipt to tally up your allowable deductions is probably not your idea of fun. So, as tax time looms we wanted to share our pre-tax time checklist to make things just a bit easier for you.
We can help you determine if you can access your equity to renovate, or perhaps expand your investment portfolio if you’re in a position to do so. Remember, asking us to give you a free property investment loan health check could potentially save you money, so it’s worth giving us a call.
If you have any questions about the pre-tax time checklist or would like us to assess your situation, please contact us – we are here to help.
Click here for information about ATO measures and tailored support during COVID-19.
Good news if you are wanting to build a new home or renovate an existing one! The Australian government has just announced a HomeBuilder scheme that will provide eligible owner-occupiers (including first home buyers) with a tax-free grant of $25,000.
To access this grant, owner-occupiers need to meet the following criteria:
- $200,000 p.a. for a couple based on both 2018-19 tax returns or later
To find out more, visit the Australian Government website: Click here
With interest rates at an all-time low, now is the perfect time to take advantage of this opportunity. Get in touch with me today to discuss your eligibility and I can help you with a competitive home loan.
Winter has arrived quickly and we’re hoping you’re well and keeping warm. Recently the property market slowed down considerably with the COVID-19 pandemic having a huge impact. Find out more about home value movements in each state below.Interest rate news
The Reserve Bank of Australia (RBA) announced it has decided to keep the official cash rate unchanged at 0.25% at its meeting on the 2nd June.
According to the RBA, the pace of recovery for the quarter beyond June is uncertain. The outlook will depend on the extent to which the market continues to be affected by social distancing and other containment restrictions. RBA governor Philip Lowe said in the previous meeting that the Board will not increase the cash rate until progress is being made towards full employment and inflation is sustainably within the 2-3 per cent target band.
Interest rates remain low for some time and there are plenty of competitive home and property investment loans available. Talk to us to make sure you’re getting the right deal for you.
Home value movements
We have seen a reduction in home values in May as the market activity showed more positive signs. The Home Value Index report from CoreLogic shows that the estimate of sales activity bounced back by 18.5% in May after a drop of 33% in April. CoreLogic head of research, Tim Lawless, said “Considering the weak economic conditions associated with the pandemic, a fall of less than half a percent in housing values over the month shows the market has remained resilient to a material correction. With restrictive policies being progressively lifted or relaxed, the downwards trajectory of housing values could be milder than first expected.”
Melbourne’s housing market has posted the largest fall over the month, down at -0.9% May. Home values were also down in Sydney (-0.42%), Brisbane (-0.08), Perth (-0.56%) and Darwin (-1.59%), but rose in Canberra (+0.55%), Hobart (+0.77%) and Adelaide (+0.45%).
EOFY: Why property investors love tax time
It’s tax time and if you are a property investor, is a great time to maximise your tax benefits this financial year.
Take control of your budget
Getting your budget under control and your finances in order is absolutely essential for anyone looking to apply for a home loan. Here’s a few things to consider to get financially fit in the new financial year.
Keep your indoor plants happy this winter
During winter, your indoor plants are going to have a harder time staying healthy and will require a little extra care. Read more for our top tips to help them thrive during the cooler months.
The benefits of refinancing your mortgage can vary depending on your situation and financial goals. But generally, refinancing opens doors to many opportunities, such as:
Is refinancing right for you? I can help you make an informed decision by helping you to set goals and review loan options that align to your needs.
Aside from having access to various loans from Australia’s leading lenders, I have access to a range of exclusive, flexible, and competitive loan solutions. Through this, I can work with you to find a loan tailored to your circumstance.
To learn more about refinancing, get in touch with us today!
Buying your first home is an exciting time! As your broker, I am here to help you every step of the way. Did you know that the Australian Government has two new initiatives that support first home buyers? These are the First Home Loan Deposit Scheme (FHLDS) and the First Home Super Saver (FHSS) scheme.
First Home Loan Deposit Scheme (FHLDS)
What is it? FHLDS helps first home buyers purchase a home sooner by providing a guarantee allowing those on low and middle incomes to buy a house with as little as 5% deposit (lender’s criteria apply).
Who is eligible? Singles and couples that meet the following key checks: an income test, a prior property owner test, a minimum age test, a deposit requirement, and an owner-occupier requirement. Get in touch soon so we can check if you meet the criteria.
First Home Super Saver (FHSS) Scheme
What is it? FHSS allows you to make voluntary before-tax and after-tax contributions into your super fund to save for your first home. Eligible candidates can then access these contributions and associated earnings to buy their first home. As of July 2019, there have been changes to the scheme, including only applying to buy your first home in Australia, compared to the previous version that applies to any location.
Who is eligible? First home buyers who live in the premises they are buying or intend to live there as soon as practicable; and who intend to live in the property for at least six months within the first 12 months they own it. The buyer also must have never owned a property in Australia and have not previously requested a FHSS release authority.
Get in touch today to learn more about these schemes and explore opportunities suitable for you. I can provide details on how each scheme works, the ins and outs, and the pros and cons that apply to your current situation.
Contact us today check your eligibility.
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