LBK Lending, Brisbane, QLD Videos

MISCONCEPTION MONDAYS EP 20: Cheapest rate is always the best You may think when purchasing a property that the cheapest rate is always the recommended option. However, this is a huge misconception when it comes to borrowing power. Lenders policy varies significantly so if you’re trying to maximise your borrowing power a lender with a higher rate (then best in the market) could result in a significant increase in your borrowing power due to their policy suiting your particular situation. Being a mortgage broker I have access to over 30+ lenders on my panel so can help you maximise your borrowing power. To discuss your current situation please reach out today: 📱0401 225 713 📧 [email protected]

Massive announcement yesterday by the QLD Government: The Stamp Duty threshold at which first home buyers begin paying stamp duty will be raised from $500,000 to $700,000, with partial concessions available for properties valued up to $800,000. This change is aimed at making homeownership more accessible for those facing affordability challenges. Stay tuned for more on this.

🚨SPECIAL LENDER ANNOUCEMENT🚨 ANZ have recently announced a new ‘Low Risk LMI Waiver’ policy allowing ‘low risk borrowers’ the chance to borrow up to a 95% LVR in eligible postcodes. This is on purchases, refinances or cash outs so can also be beneficial for anyone living in those areas now, as well as purchasing. Eligibility: - Property must be in the allowed postcodes - Minimum Lending - $2,000,000 - Max Lending - subject to postcode - Deemed a ‘Low-Risk Borrower’ as determined by ANZ systems. This is quite a unique policy in that it’s not restricted to a certain occupation (unlike other ANZ schemes allowing 95% LVR for medicos, and 90% LVR for accountants & legal professionals with no LMI). This can be a hugely beneficial strategy to homeowners. To learn more about this today please reach out: 📱0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 19: First Home Guarantee (Permanent Resident Eligibility) The First Home Guarantee Scheme eligibility now includes Permanent Residents so it’s important not to fall into the misconception of the old policy where you had to be an Australian Citizen. The First Home Guarantee Scheme allows eligible First Home Buyers the opportunity to purchase their first home with only a 5% deposit + costs required. If you want to learn more about this scheme and your eligibility please reach out today: 📱0401 225 713 📧 [email protected]

If you’ve gone directly to the bank to determine your borrowing power and been knocked back / told that you can’t borrow what you want then it’s recommended you see a Mortgage Broker. Bank policy varies significantly bank to bank so using a broker who has access to 25+ lenders can help you find a policy that assists in maximising your borrowing power. It’s completely free so to get a second opinion from the bank reach out today: 📱0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 18 SPECIAL EDITION: Property Insurance - when?🚨 Today, we’re joined by James Waygood, Managing Director of Asset Legal who specialises in QLD Conveyancing. Conveyancers are a vital part of purchasing a property and often encounter misconceptions throughout the process. This Misconception Monday focuses on a common misunderstanding that Asset Legal deals with daily: “When is home insurance required when purchasing a property?” If you want to learn more about the conveyancing process, @assetlegal regularly posts informative content! Stay tuned for more misconceptions from Asset Legal on this page👀.

MISCONCEPTION MONDAYS EP 17: LMI Waivers for Select Professionals If you’re an Accountant, Legal or Medical Professional then listen up. Standard policy requires a 20% + costs to avoid Lenders Mortgage Insurance (LMI) but if you’re classified under one of these occupations then you’re eligible for an exemption. 1. Accountants & Legal Professionals are eligible for an LMI exemption up to a 90% LVR (only a 10% deposit + costs required) 2. Medical Professionals are eligible for an LMI exemption up to a 95% LVR (only a 5% deposit + costs required) There are a few eligibility requirements so if you’re classified under one of these occupations and want to discuss further please reach out today: 📱 0401 225 713 📧 [email protected]

You can refinance if you are on maternity leave! A common misunderstanding from couples, is that you can’t refinance if you are on maternity leave. Lenders will look at servicing on your loan taking into account your full income from your return to work. However, there can be some technicalities you have to satisfy. At LBK Lending, we can help walk through these with you. Call or email if you want to learn more: 📞 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 16: Investment Income (Dividends/ Distributions) Did you know that if you have investments, you can use the income received from them on a loan application to increase your borrowing power? The misconception today is that this income can’t be used. If the intention is to sell these investments to use as a deposit on a purchase then the income can’t be used but if the intention is to hold these investments then you can certainly use the income. To discuss your personal situation - reach out today: 📱 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 15: Guarantor Loans Once a guarantor always a guarantor is the huge misconception discussed today. A guarantor home loan can be a hugely beneficial strategy to get you into a property sooner as no deposit is required. The ability to save tens of thousands in Lenders Mortgage Insurance (LMI) just by having a guarantor is an attractive advantage. The best thing? It can be removed once you’ve got the required 80% equity within the property! To discuss the guarantor process and determine your borrowing power - reach out today: 📱 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 14: Credit Reports Ever had a family member, friend or colleague tell you that you have to get a credit card so you get a credit report to show your good credit repayment history? If so, don’t believe this misconception. There’s nothing wrong with having no credit report and it’s certainly not a requirement of lenders for you to have one. If you’ve ever got a phone payment plan i.e. with Telstra or Optus then you’ll have a credit report (as this counts as a credit enquiry). Not sure what your credit score is and want to discuss your options - reach out today: 📱 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 13: Using Income from Day 1 - PAYG Income. A huge misconception (largely because it used to be truth) is that you need to be employed for 3 months before you can use that income for servicing and apply for a home loan. Whilst some lenders still have this policy, a solid handful will allow income from day 1 (some even with just a contract of employment) as verification. This is hugely beneficial for applicants taking a new job for higher pay. To discuss your situation and options please reach out today: 📱 0401 225 713 📧 [email protected]

It’s important to be careful when using online servicing calculators to determine your borrowing power as there are several factors that these calculators do not take into account that banks do. If you’re curious how much your borrowing power is it’s important to speak to a broker as we can provide you with accurate and up to date information, whereas these servicing calculators are generally just a lead generation tool. A brokers services are free and we can give you the necessary advice and steps to be able to determine and potentially increase your borrowing power. Reach out today to determine your accurate borrowing power: 📞 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 12: Overtime Income If you work overtime it’s important not to fall into the misconception that this income can’t be used on a loan application. Overtime income can significantly increase your borrowing power. For the majority of occupations overtime is shaded at 80% but if you’re an essential worker then we can add back 100% of your overtime income. Every lender has slightly different methods in calculating overtime income so to maximise your borrowing power reach out today: 📱 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 11: 20% Deposit as a First Home Buyer Couldn’t be more passionate about debunking this misconception. It’s a very common one I see where first home buyers believe they need a 20% deposit in order to purchase their first home and it’s just not true. There are four prominent strategies that can be taken advantage of to ‘avoid’ the 20% required deposit: 1. First Home Guarantee Scheme 2. Guarantor Home Loan 3. Specific Occupation - Accountants, Legal and Medical Professionals 4. Paying the Lenders Mortgage Insurance (LMI) These options all have different technicalities and policies so please reach out today to understand if any are available to you and how they work: 📱 0401 225 713 📧 [email protected]

You’ll never know what the possibilities are for your current or future loan if you don’t reach out. At LBK Lending, we are passionate about helping you understand your financial situation We want to make sure you have the best rate and best service every step of the way. Just a simple first call, email or Zoom can help us get the ball rolling. Reach out today to get started: 📱 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 10: Living Expenses (Holidays) If you’ve just been on a holiday and thinking of delaying the home loan process - don’t. This is a huge misconception as our role as a mortgage broker is to determine your borrowing power & comfortability making repayments on a home loan and a recent holiday showing on your bank statements isn’t going to impact this. Reach out to determine your borrowing power today: 📱 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 9: Maternity Leave Can you refinance whilst on maternity leave? Short answer: yes. Reach out to discuss the policy further: 📱 0401 225 713 📧 [email protected]

Lenders Mortgage Insurance (LMI) is widely perceived to be negative, and scary. However, it doesn’t have to be that way! If you want to purchase a property, but don’t have the full required deposit, you will be charged LMI. The more deposit you have, the less LMI you will be charged. This sounds daunting, and although it isn’t ideal, LMI can get you into a property quicker. We understand that this topic can be confusing. We would love to help you understand each step of the lending journey. Reach out today, we are always reachable: 📱 0401 225 713 📧 [email protected]

MISCONCEPTION MONDAYS EP 8: Self-Employed Income (Most recent FY) There’s several different factors to consider for self-employed applicants but today we’re focusing on using the most recent financial year as income for servicing. The misconception? That you need to average the last 2 FY income in all scenarios. Lenders policy massively differs for self-employed applicants so reach out to ensure your borrowing power is maximised: 📱 0401 225 713 📧 [email protected]