Justin Dale - Mortgage Broker

You can't get ahead with saving for a home loan unless you understand what's holding you back...

Here are some mindful money tips to help break bad habits. so you can achieve your long term goal.

As Sydney's property market cools, we're seeing an increase in vendor discounting. CoreLogic's latest figures show that sellers in Sydney are now offering a median discount of 3.4% to close a deal, up from previous months.

What does this mean?

If you're thinking about buying a home, this is good news for you. You might find better deals now than a few months ago. To make the most of this, get pre-approved for a mortgage — it'll strengthen your position when negotiating with sellers who are more eager to make a deal.

To schedule a free, no-obligation consultancy call, contact our friendly team on 02 9925 3930.

Source: CoreLogic

In the 2023-24 financial year, most Australians who sold their homes made a profit. According to Domain's research:

➡️ 96% of house sellers made more money than what they originally paid, the highest profit rate since 2008.
➡️ 90.7% of unit sellers also saw a profit, the highest rate since 2011.

Interestingly, sellers in regional areas had a higher profit rate compared to those in big cities for both houses and units.

Nicola Powell, Domain’s chief of research & economics, noted that the surge in profits reflects the rising property prices. She adds, ""These impressive profits highlight how valuable it can be to enter the property market when you have the chance.""

Given these favorable conditions, it’s a great time to talk to us as we can help you navigate the market, whether you're buying or refinancing, to make the most of these trends. For more information, visit https://bit.ly/47RRoS7

A very happy birthday 🥳 to the best co-pilot in life I could have ever asked for ❤️

Have a fab day my love 😍

When you apply for a mortgage, the lender uses a series of criteria to assess how likely you’d be to repay the loan. As part of this process, the lender also considers whether you’d be able to continue making your repayments if interest rates were to rise.

Generally, lenders will apply a buffer of at least 3.00 percentage points – so if you applied for a loan with an interest rate of 6.50%, this would mean calculating whether you’d be able to make repayments at 9.50%.

This ‘mortgage serviceability buffer’, as it’s known, is mandated by APRA, Australia’s banking regulator.

Partly, it’s designed to prevent lenders from issuing risky loans; because if a large number of borrowers defaulted on their loans, that would undermine the banking system. And, partly, it’s designed to protect borrowers from taking on loans they might not be able to afford.

The serviceability buffer can make it harder for borrowers to qualify for loans, but is ultimately designed to be in their best interests.

Reach out via our dm's if you would to apply for a home loan.

Australia is experiencing a notable shift towards city people wanting to move to regional areas. Research commissioned by CBA indicates a sustained population trend towards regional living, with a significant increase in the number of Aussies relocating from capital cities to regional areas.

Below are the top reasons why a move to a regional area is ideal:

1. Affordable living costs - lower housing prices, reduced expenses
2. Improved quality of life - less traffic congestion, lower pollution levers and 'how's that serenity!'
3. Strong community connections - tight-knit social connections and sense of belonging
4. Diverse job opportunities - great opportunities in agriculture, tourism, healthcare and local government.

If you are looking for the perfect regional place to purchase, speak to us so we can help make that transition easier.

Source: BrokerDaily

Mortgage activity is rising as borrowers commit to $29bn of home loans.

The latest home loans data from the Australian Bureau of Statistics has revealed three key trends.
1. Borrowing is rising strongly. The total value of home loan commitments in June reached $29.19 billion, which was 1.3% higher than the previous month and 19.1% higher than the previous year.
2. Investor activity is incredibly strong right now. While the volume of owner-occupied loans rose 13.2% year-on-year to $18.17 billion, investment loans jumped 30.2% to $11.02 billion.
3. While refinancing activity remains quite high, it's well below the record levels of mid-2023. Borrowers refinanced $15.79 billion of loans in June, which was 20.9% lower than the year before.

Want to talk more about figures and what capacity you can borrow? Details are https://bit.ly/47RRoS7.

The shadow housing minister, Andrew Bragg, criticised the current government's housing policies, especially their 1.2 million housing target, which he believes is unrealistic and unlikely to be met.

He argued that the government has failed its housing initiatives, including their ""Help to Buy"" scheme and the Housing Australia Future Fund, which he called ineffective.

Bragg also expressed concern about the government's focus on allowing foreign fund managers and superannuation funds to invest in Australian housing, which he views as detrimental to Australian homeownership.

With Federal elections happening mid-next year, it will be interesting to hear how the politicians plan to address the current housing crisis. Follow us as we unravel what the polli's are really saying in relation to home ownership.

Scammers are getting savvier. The Project spoke to a couple who were victims of an online scam while trying to purchase their first home. They had saved nearly $50,000 for the deposit, but fell victim to a scam where they were tricked into transferring the money to a criminal mule account, losing their entire deposit.

It would have been a horrific time and with some banks wiping their hands off the issue, it's time to be more vigilant than ever. Look at our step-by-step guide to pay your home deposit online (and avoid scammers).

In the end, if you are unsure, contact us on 02 9925 3930 or your real estate directly (from your list of contacts, not from the email that you were just sent).

Just a few reasons why we have over 100 5-star Google Reviews...

Reach out to us on 02 9925 3930 or via the bio.

What is our process after you have purchased your property? Glad you asked! Once the loan settles, we:

- check in at 2 weeks
- check in at 6 weeks
- at month 11 we advise you we will be starting a review of your current loan
- we contact your lender and they advise us what their best rate is
- we then speak with you about the outcome and discuss the research and possible options you have.

Our business relationship doesn't end at the purchase of your new property, instead, we continue to find the most suitable options for your situation. Visit our website to book in a no-obligation, free call.

We don't just do home loans. We are experienced in various other areas, including:

➡️ Family Home Loans: this is your basic home loan for people occupying the property.
➡️ Investment Property: when our client invests funds to make a profit.
➡️ Commercial Property: based on people purchasing for a business as an investment or owner occupier.
➡️Equity Release: releasing equity in a property to use elsewhere.
➡️Refinancing: for clients wishing to have their current mortgage assessed and looking for a better deal to save their dollars.
➡️ Reverse Mortgages: we help the older population who don’t have cash available but can use their equity in their home to access cash.
➡️ Self Managed Super Fund (SMSF): to give our clients control of where their money is invested and how it is used.

If you need help in one of these areas, speak to us for a free, no-obligation chat about your options. Details are in the bio.

21 years old Grace Dale 🤩

Wowsers where does the time go and what a ride it has been.

It was so much fun celebrating 🥳 with Gracie, the Dale and Vander Straaten families, Gracie’s friends and meeting new friends 🥂

I am so proud of the women Gracie has come and excited to see what lies ahead ❤️

Glad I left when I did 😳

Another stellar performance from Justin as he presented "Turning Dreams into Reality" to the BNI crew, where he shared insights from his 30 years in banking and how Contour Finance helps achieve homeownership dreams.

Whether you're a first-time homebuyer, looking for better rates, or exploring investment properties, Justin highlighted the variety of services they offer to make your financial journey smoother.

If you want to purchase property or need to revisit your current home loan rate, contact us on 02 9925 3930.

I had previously been mucked around by a publicly listed home loan broker. They were lazy & slow to respond & eventually offered me a low doc high interest loan thinking I would have no choice. I discussed my concerns with Contour Finance. They felt they could get me a bank loan with a competitive rate on my existing and future loan. In the end they were successful in getting one of my properties released as security and all existing and new loans were cheaper than my existing lender and far cheaper than the low doc loan. These guys listened, went away, did their homework and got me everything they promised. I would say if your self-employed and needing a home loan and getting a low docs shoved down your throat, see Contour Finance. Being in the financial services industry I can only say great things about them, they earned every cent of the commission and I ended up with a great outcome.""

Stephen Coghlan - 5 Star Google Review

Wow! This means more than you know. We look forward to an ongoing relationship, with annual reviews to make sure your loan is always competitive and suitable to you.

Just wrapped up the City to Surf on the weekend with my daughter Gracie, and I couldn't be more proud! It was her first time, and she nailed it.

Both of us crossing the finish line was a great reminder of the importance of balancing work and family life.

Also, wishing Gracie a Happy 21st birthday for today. She certainly is an inspiration!

Can’t wait to educate my networking group this Friday about the wonderful world of mortgage reviews and how Contour Finance have saved our clients 1000’s of dollars over the years by doing them….

4 more sleep 😴

And... property prices keep climbing.

Australia's median property price has been rising for 18 months straight, going up by another 0.5% in July, according to CoreLogic.

Over this period, prices have increased by 13.5%, reaching record highs since November 2023. However, CoreLogic suggests that the market might be cooling down a bit. They note that while the demand for housing still exceeds supply, some rebalancing seems to be happening.

Let's see if that rebalance occurs prior to Christmas!

Is it the end of the Aussie icon of shouting a beer?

More Australians are choosing to split bills rather than "shout" for their friends. NAB's research shows that 54% of people prefer to share expenses these days.

Among young adults aged 18-29, this number jumps to 72%.

Older Aussies aren't feeling the pinch as much, with only 32% of those over 65 choosing to split bills.

Interestingly, women are more likely than men to share costs. Among high-income earners, 63% favor splitting bills, compared to 39% of those with lower incomes.

People are handling their expenses in different ways. Some prefer one person to pay the bill and then get reimbursed, while others use credit or debit cards. Bank transfers and PayID are also popular choices.

Young Australians are now more open about managing their money and feel comfortable saying no to the social pressure of covering a round for everyone.

How are you managing your expenses in these times? Let us know in the comments!

The Reserve Bank of Australia (RBA) has kept interest rates at 4.35% for the sixth meeting in a row. This decision was expected after the latest consumer price index showed a 3.8% rise in prices for the June quarter, slightly up from 3.6% in March.

RBA Governor Michele Bullock highlighted that the economy is facing challenges with high demand and slow inflation progress compared to other countries.

The RBA is staying alert to navigate this tricky situation.

It's a good time to see where savings can be made on your home loan. Contact our team at 📞 02 9925 3930 for a free, private consult.

Australia's leading economic experts predict that the Reserve Bank will begin lowering interest rates by March next year. Australia’s leading economic experts predict that the RBA will begin lowering rates by March next year and a panel of 29 experts, gathered by the Conversation anticipates that rate cuts may continue until the end of 2025.

The question is who knows by how much…..

Proactive preparation is key to taking advantage of these possible decreases. To schedule a time to review your current mortgage rate, contact our friendly team on 02 9925 3930.

Source: The Conversation

Thank you so much for your 5 star Google Review Mandy. We have absolutely LOVED working with you! Thanks for the kind words, we can't wait to get you that investment property next ;)

We're not completely out of the cost-of-living squeeze. But we are here to support you on your home loan journey and unravel the complexities of property purchasing.

We are here to help you achieve the most suitable mortgage result. So, get in touch for a free discovery chat! Call 📱 02 9925 3930 or click the link in our bio.

Cheer Cheer the Red and the White 🦢

Congratulations to Demie & Tim, who are making their dreams come true. What a wonderful surprise and we can't wait to see what Demie's design eye comes up with in their new home!

We look forward to seeing your family grow in such a beautiful neighbourhood!

Do you want to know the difference between going directly to a bank or going directly to a mortgage broker?

Well... we're glad you asked!

Scroll through to find out!

After meeting with us about your mortgage (or to obtain a home loan), you can move as fast or slow as you like once you have the knowledge and understanding. Some people get the ball rolling immediately (awesome!).

Others are just testing the waters and understanding their potential borrowing power, which gives greater clarity surrounding their goals and options (also awesome!).

But there is never any obligation to go ahead.

However, if you’re jumping up and down to get buying, then we would move forward with the pre-approval process.

Interested? Let us work with you to tailor the best solution to your lifestyle needs. For more information, visit https://bit.ly/47RRoS7.