We Need Finance

We are all for regular exercise, but remember to get off the treadmill – both the literal and figurative ones occasionally.

Ready to start saving for your home deposit? Here's how you can make it happen:

🎯First, be specific with your target and timeframes. You need to be clear on what exactly you're working towards.

📱Next, embrace budgeting apps or tools to track your progress – seeing your savings grow will be a huge motivator.

🏦Consider setting up a separate savings account specifically for your deposit – this 'out of sight, out of mind' approach can reduce the temptation to dip into these funds.

🤟Last but not least, involve your family or partner in the process – having this added layer of accountability and support can keep you focused.

Get in touch for help understanding how much of a deposit you'll likely need to buy your property.

And home loans aren't (often) approved in a day, either.

If you're looking to finance a property purchase, make sure you give yourself plenty of time.

Ideally, you'll speak with us months before you need finance. This way, we can make sure everything's lined up to give you the best shot at being approved for your ideal finance solution.

Get in touch to get started.

If you have plans to build your property portfolio, you need to be clear on your objectives.

If your goal is to make a profit through capital gains – that is, selling the property one day for profit – you'll want to focus on properties in areas that are experiencing growth and rising property values.

On the other hand, if establishing consistent rental income is your priority, you may want to focus on properties in areas with strong rental demand, low vacancy rates, and low property taxes.

While we can't advise you on which property to buy, we have the experience and expertise to help you secure a mortgage product that will meet your investment goals.

So, whether you're a seasoned investor or just starting out, let's work together to make your property investment dreams a reality!

Does your HECS debt impact your ability to get a home loan?

It can, in that it impacts your borrowing capacity. Borrowing capacity, by the way, is essentially 'how much the bank is willing to lend you'.

Instead of lenders looking at the entire HECS debt though, as they would with a credit card or personal loan, they're more interested in how much you're having to repay each month.

This means the degree to which your HECS debt impacts your borrowing capacity depends more on your income than the overall size of the debt.

Think of it this way, it's your HECS debt repayments that make the difference. The banks are interested in this amount because it affects how much cash you'll have leftover to pay your mortgage.

Get in touch to find out how much you could borrow for your new home.

Debt isn't anything to be scared of. Especially if you're:
- Getting fair and reasonable terms
- Using the funds on appreciating assets
- Able to afford to make repayments

Get in touch if you plan to secure some good debt – like a home or business loan.

It's time to dive into the deep end – yes, that might mean eyeballing your credit card bill, peeking at your savings progress, or confronting that home loan interest rate head on.

When it comes to your cash, playing the ostrich won’t cut it.

Sure, it’s a bit like opening Pandora's box to scrutinise your finances, but trust us, steering the ship feels way better than drifting aimlessly.

If you're ready to wrangle those debts, boost your savings, or make your home's equity work for you, get in touch.

In the case of your personal finances, ignorance is not bliss.

And while it can feel uncomfortable to take a long, hard look at your finances, you'll be glad you took control.

Is today the day you:
▫️Set a budget you can stick with
▫️Shop around for a better energy deal
▫️Cancel those unused subscriptions
▫️Close your buy now, pay later accounts
▫️Speak to us about sorting your home loan?

What could you do today that future you will love you for?

The great debate: fixed vs variable home loans 🏠

Deciding which type of home loan is best for your individual circumstances can be daunting.

There is so much to consider as you weigh up the pros and cons, so having a trusted mortgage broker in your corner is a smart move.

Get in touch with us today to discuss which kind of home loan will work in your best interests.

There's a lot of questionable information out there, particularly when it comes to personal finances.

When it comes to your unique situation, it's certainly worth speaking with someone who's qualified and experienced.

Your financial future is far too important to leave to guesswork.

If the phrase 'mortgage stress' fills you with dread, then it's worth looking at what it is, and what can be done about it.

The ABS defines mortgage stress as a household that's spending more than 30% of its income on mortgage repayments.

And so when you consider that wages have been stagnant for some time, interest rates have risen, and inflation is well beyond the ideal 2-3% then it's no wonder many Australians are feeling the pinch.

Signs you may be under – or at risk of – mortgage stress:
- The portion of your income being spent on your mortgage is increasing at a rate that feels uncomfortable
- You've exhausted most of your 'rainy day' funds
- Your income is about to drop significantly
- You're paying bills with credit cards
- You're late on your repayments
- You're unable to save or invest

What to do about it:
- Shop around on your utilities
- Look into strategic debt consolidation (we can help)
- Speak to us about getting a better deal on your mortgage

There are always options, you just need the right guidance.

To guarantor or not to guarantor... 🤔

Helping out your children by guaranteeing their mortgage can help get them out of your hair and into their own home sooner, but how will it affect your finances?

Get in touch to discuss the pros and cons of allowing the kids to lean on the bank of Mum and Dad.

Feeling like you want to hide from your finances? If you've got credit cards and personal loans, it can seem like no matter what, you're barely chipping away at those debts.

These kind of debts can sap your disposable income, and sidetrack your savings efforts - potentially putting the brakes on your plans to buy your own home.

We've been achieving some amazing results for clients by consolidating their debts. We're talking huge savings on interest. Money back in their pocket, and paying down their debts faster.

Why wouldn't you? Get in touch to find out how.

Stop wasting your weekends trawling the internet for home loans.

Our expert mortgage brokers are here to save you time, money, and a whole lot of headaches.

Let us do the hard work for you. Get in touch today and take the first step towards your dream home!

Consolidating your debts – or rolling them up into one – can make things much more manageable, and can even reduce the amount of interest you need to pay.

Get in touch if you're feeling your debts are getting the better of you.

We're practically being beaten over the head with how unaffordable housing is right now, but we're here to remind you it's not all doom and gloom!

Contrary to the constant news reports, you don't need to be on an exorbitant salary to break into the property market.

If you aspire to get on the property ladder, let's sit down together, crunch the numbers, and get clear on what you can afford to borrow and when.

Reach out today to explore your options.

Buy now, pay later services have proven to be one of the most popular disruptors to traditional credit cards!

If a new home loan is on the horizon for you, keep in mind some lenders will view your Afterpay account as an ongoing credit facility (like a credit card), which may impact how much they're willing to lend you.

It all depends on your circumstances, and which lender you end up applying with.

Lucky for you, we have a lot of insight into the closely-guarded policies banks use to base their decision on whether to say Yay or Nay to your home loan application.

Get in touch if you're applying for a loan and want help putting your best foot forward.

The cash rate rises aren't just affecting people who already have a mortgage.

If you have plans to enter the property market you may have noticed that your borrowing power has dropped significantly in the past 12 months.

This is because the higher the interest rate, the higher the monthly repayments. And, thanks to APRA guidelines, when calculating whether you'll be able to afford your loan repayments banks also need to add a 3% buffer.

Back in early 2022 when the cash rate was low and interest rates were around 2%, banks would calculate your borrowing capacity based on whether you could afford repayments on a 5% home loan (roughly speaking).

Fast forward to now, where the average interest rate is around 6%, the banks are calculating your ability to afford repayments based on a 9% interest rate! Note that we've rounded these figures, but you get the idea.

There are of course ways to improve your borrowing capacity, while making sure you only borrow what you can afford. Get in touch to start making a plan today.

Lenders Mortgage Insurance (LMI) gets a bad rap.

And yes while no one wants to pay an extra insurance (that protects the bank, no less), it can be difference between getting into the property market now vs much later.

We'll definitely look at ways you can avoid paying this insurance, but as far as your long term property strategy goes, paying LMI may end up being in your best interests.

Get in touch to understand more.

If you're still renting, you've probably got at least one well-meaning Uncle who asks you "Why pay back someone else's mortgage when you can pay back your own?"

We hate to say it, but they're onto something. They're alluding to the fact that buying a house, and making your home loan repayments, builds equity.

Equity is the difference between the value of your property, and the size of your mortgage.

It increases as you pay back your loan, and as property prices increase.

And this is why buying makes so much more sense to us than renting: because your home loan repayments build your equity - not someone else's.

Look, we're not saying having an Afterpay account – or other buy now, pay later (BNPL) service – will rule you out from securing a home loan.

But, it will impact your borrowing capacity, which is essentially how much the bank is willing to lend you. This is why a lot of people will actually close down their BNPL accounts several months before applying for their home loan.

Get in touch and we'll help you crunch the numbers to figure out how best to prepare for applying for finance.

It wasn't long ago that banks would lend about 10 times your annual income. Give or take, and assuming you have average living expenses and no other debt.

Banks have since tightened their policies and 'borrowing capacity' can vary widely between lenders.

We can help you optimise your borrowing capacity, while making sure you end up with a loan you can afford.

Get in touch if you want a hand crunching the numbers!

If you're considering selling your property, there are a fair few associated costs to be mindful of.

We've rounded up some of the costs involved in selling property:
- Listing with an agent
- Property styling and staging
- Sprucing up kitchens and bathrooms
- Landscaping to improve kerb appeal
- Potential mortgage early exit fees
- Conveyancing costs
- Capital gains tax (on investments)

Reach out if you need help covering the difference between the profit you make on the sale and the price of your next purchase.

More and more, we're seeing people vote with their wallets, and choosing to only buy from businesses that align with their values.

If you're passionate about the environment, for instance, you may not be too keen to bank with an institution that still invests in fossil fuels.

Or if you're a staunch vegan, then you'd probably want to avoid banks that invest in industries that allow animal cruelty.

Get in touch to find out your options when it comes to securing a competitive home loan you can feel good about.

The Loan to Value Ratio is how much you're borrowing compared to the value of the property (and accounting for all fees and taxes).

An LVR of 80%, for instance, means you have a 20% deposit to contribute to the purchase once you've paid Stamp Duty and other costs.⠀
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Any questions on home loan jargon? Send us a DM

When deciding on a home loan, the interest rate is understandably what most of our clients first consider.

The thing is, sometimes when you go with a product that has the lowest interest rate, you forgo other features that could benefit you in the longer term.

We'll definitely advocate for the lowest interest rate possible, but always in a way that balances all your needs, today and into the future.

Let us know if you want us to crunch the numbers with you.

There's a lot of noise about the perks of refinancing your home loan. And yes, it could save you big time.

But a word of caution: make sure you consider all the costs of switching home loans, like exit fees, application fees, and any opportunity cost of doing without key features.

You also want to make sure that the product you end up with serves your best interests now and for the long term.

This is why when we refinance our clients' home loans, we make an assessment against all their needs, not just at what might seem 'the cheapest' on first glance.

Who's refinanced their loan recently? Who is thinking about it? Who is happy with their current home loan?

Uncertainty is - ironically - a certainty of life.

And when it comes to interest rates and exactly what the RBA and banks will do next, it's hard to predict.

This is why it's a good idea to have a buffer on your home loan repayments so you can afford any rate increases.

Get in touch to discuss how our home loan health checks can help you weather any interest rate movements.

Investing in real estate is a long game. A lot can (and will) happen in 10, 20, 30 years.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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We don't see the Great Australian Dream losing its lustre any time soon.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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What's better than owning your own home, except maybe having an investment property or two under your belt as well:ok_hand:⠀⠀⠀⠀⠀⠀⠀
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Get in touch to find out how you can climb the property ladder.