WHY USE A MORTGAGE BROKER TO REFINANCE?
Did you know that seven out of 10 borrowers use a mortgage broker? During the June 2024 quarter, mortgage brokers wrote 73.7% of all new home loans in Australia – the second highest result on record. When it comes to refinancing, many borrowers choose to use a mortgage broker for peace of mind that switching is…
WHAT CAN YOU DO TO MINIMISE THE IMPACT OF A HOME LOAN INTEREST RATE INCREASE?
If you were one of the many borrowers who fixed a rate on your Home Loan when rates were under 2%, you either have recently seen your fixed rate expire and have moved on to a higher variable interest rate, or are about to have this happen. Borrowers who had a fixed rate that has…
Government Initiatives To Help Aspiring Homeowners
In May, the Federal Government delivered the 2024-25 budget. It included several measures such as a $300 energy bill rebate and rent assistance aimed at easing the cost-of-living pressures on Australians. Meanwhile, with the government’s stage 3 tax cuts coming into effect from July 1, some aspiring homeowners may see their borrowing capacity grow, along…
Why Now Could Be A Great Time To Refinance Your SMSF Property Loan
Over the last few years we have seen all of the major Banks remove themselves from lending to Self-Managed Super Funds. This was solely due to the limited recourse nature of this type of lending, meaning that if a SMSF was to default on their loan, the only recourse the Bank had to recoup the…
IS THE REFINANCE BOOM OVER?
In 2023, the cashback craze was on steroids. Lenders vying for refinancing business were offering sweeteners of $5,000 or more to borrowers who switched over their home loans. In 2024 the landscape is vastly different. Fewer and fewer lenders are offering cashbacks, and those who have reduced the amount they’re willing to hand over. The…
Your New Year Resolution – Stop Paying Too Much Interest On Your Personal Debts
Do you have a Christmas spending hangover? Spent more than you intended on presents for the family or went on that holiday that ended up costing a lot more than expected? Has your Home Loan repayment increased significantly or the credit card bill got you tossing and turning at night? Anyone with some personal debt…
IS YOUR LOW FIXED RATE ABOUT TO EXPIRE? WHAT CAN YOU DO TO MINIMISE THE FINANCIAL IMPACT?
In the current interest rate and inflationary climate Mortgage Brokers are spending a lot of time engaged with their existing clients, discussing what will happen when the current fixed rate on their Home Loan expires. When rates were at their lowest a lot of borrowers, quite smartly, took advantage of this and locked in their…
IS NOW THE BEST TIME TO FIX THE RATE ON YOUR HOME LOAN?
As a mortgage broker one of the most common questions I receive from clients is whether they should fix the interest rate on their Home Loan. With the Reserve Bank pausing rate increases, at least for this month, some economists are now suggesting the cash rate may actually fall later in the year depending on…
WHAT CAN YOU DO TO MINIMISE THE IMPACT OF HOME LOAN INTEREST RATE RISES?
The rise in the inflation rate to over 7% in the latest update has meant the Reserve Bank has again raised the cash rate this month to 3.85%. Since last May mortgage holders have seen 11 increases to their Home Loan rates. For some homeowners this has resulted in their loan repayments increasing by over…
PLANNING TO BUY A PROPERTY IN YOUR SMSF? WHAT YOU NEED TO KNOW.
For some time now if you have a Self-Managed Super Fund you have been able to borrow from a Financial Institution to buy a property for investment purposes. Many SMSF’s have taken advantage of this option to invest in bricks and mortar, however before you start heading to property inspections and dreaming of building a…
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