Selector Finance
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Brett and his team believe finance is personal. It’s the goalsetting, the big picture and power moves. Like you, we believe finance is personal.
Selector Finance help you understand and navigate the world of finance with a process that brings peace of mind and complete understanding. Your hopes and dreams don’t reflect those of the next person, so you require a unique roadmap to get you there.
As a lot of you know, I have a passion for scaling mountains. My latest was Lenin Peak, the highest mountain in the Trans-Alay Range of Central Asia, with a 7134-metre summit. The massive glaciers, striking scenery, and altitude of the Kyrgyzstan and Tajikistan border ranges is breathtaking. The climb was a goal I set a good 12 months prior, and easily my most challenging to date. In my latest eDM, I shared three valuable lessons from this expedition. To find out more, follow the link 🔗 bit.ly/4e5hYeq ~ Brett
16/07/2024
What are your big goals for FY24/25?
It’s a perfect time to look at where you want to be in twelve months’ time. And – my favourite part - map out the path to get you there.
I enjoy helping our clients with the directions, the advice, the goal setting. My awesome team look after the provisions, the nitty-gritty, the fine print, and the paperwork. Me? I get to do the dream-fulfilling stuff.
If you’re ready to update your FY24/25 vision, give us a call on 1300 16 16 00 today.
16/05/2024
The household pressure of rate rises is coming off, and it had to. The RBA only needs to talk about a rate rise, and that’s enough to stop spending. The biggest thing we’re facing now is cost of living, and that’s not slowing. When they talk about an inflation rate of 6% that’s continuing to rise. Once inflation reaches 0% that simply means it’s no longer on the way up. Even at 3%, it’s still rising. So, we have a way to go to reach a stagnant inflation rate, and longer to see it fall. ~ Brett
03/04/2024
Are you currently considering the property market? 🤔 We’re still experiencing a property boom. What we are seeing out there now is classic Economics 101: Supply vs Demand. It’s occasionally being met by rises in supply as people gain the confidence to put their homes on the market again. This was evident right after Christmas when the rates went on pause. But in terms of demand, it’s not going to let up anytime soon.
18/01/2024
Please remember, the bank’s best interest duty is to their shareholders, our best interest duty is to you.
A good rate today is around 6.2%. Only recently, we had a client come to us with 8.1% on their loan. We called the bank, and they immediately dropped the interest rate to 6.5%. One phone call. What a difference!
So do check in on your interest rate, and if you’re not sure, call our team on 1300 16 16 00 today – and start the New Year with savings and the right rate!
13/12/2023
On the back of the Australian Government First Home Guarantee, we’ve helped 25 first home buyers – all existing clients’ children – into the market this year. The Federal Government effectively replaces “the bank of mum and dad” – this means parents no longer need to put their homes up as security to help their kids buy a home! It’s great to see they are getting the best possible rate as they technically have a 20% deposit. If you are trying to get into the market, this is an initiative to consider.
Surprisingly, the rate rise on Melbourne Cup Day saw an immediate impact on the property market and worked in favour of some of our home buyers. The market went cold, the bidding stopped, and auctions were pulled. Sellers’ expectations came down. And some of our clients who had been looking for a property for over 18 months, were able to jump at the opportunity. In quick succession, multiple clients found new homes.
The one thing I’m hearing from people who have purchased a property in the last two years, is ‘Thank God I bought’. Driven by the rental market, and 615,000 new arrivals all looking for somewhere to live, competition is currently high. You can’t get a rental property in some cities! There are reports of 50 would-be renters applying for the one rental property in Brisbane!
If you’re looking to get into the market, or you know someone who is, we can help you understand your options. Get in touch on 1300 16 16 00 today.
In our recent e-newsletter, Brett highlighted why economic markers are adding to the confusion in the current market. Many clients have asked him to weigh in on what’s happening. Is it boom or bust?
Have a read through at 🔗 bit.ly/3SQsgah to gain some vital insight. And if you are uncertain about what to do, even if it’s just to sit-tight, get in touch with Brett. 📞 Call 1300 16 16 00 today.
15/10/2023
Home loan refinancing requirements have changed. 👀
Rates have effectively tripled in 12 months. 🙀 Did you know that on top of that, banks are required - by law - to add 3% on top of the interest rate they give you? They do this to stress test if you can afford future rate increases. So, this means if I’ve got a client on 6% loan – they’ve been assessed at 9% - which is a lot! Last year, people were told they couldn’t refinance because of this very requirement.
APRA (Australian Prudential Regulation Authority) have unofficially said they’re accepting lenders with just 1% on top of their loan, if we can prove the clients are better off. Note: this is only for refinances, not purchases. If you’ve been told you can’t refinance in the past, this may provide you an opportunity – and I encourage you to reach out to myself or my team. 📞 You can catch us on 1300 161 600.
11/09/2023
Buying a house or investment property was never said to be easy, but if you are reading this, finding the team to help you get there can be. Thanks Eugene. We feel seen! 👀
08/08/2023
What FHB rules, changes and concessions apply to you? 🤔
Did you know each State and Territory has their own stamp duty rules, changes and concessions for First Home Buyers? That’s why it’s important to check in with your broker, conveyancer/solicitor to understand what’s relevant to your own circumstances.
In NSW, there was a major revamp on the 1st July 2023. This can be summarised on the state government’s media release – 🔗 bit.ly/43UsGys
If you’re looking to buy your first home, please check in with our friendly team on 1300 161 600. As always, we’re here to help, and happy to do so. 😄
Brett recently reached out to our incredible clients via email to explore what forests and finances have in common. In reflecting on the trials and triumphs of rainforest regen over many years, he looked at how things outside of our control can impact our growth journey. 🌲🌞 Sound familiar? Read Brett’s e-newsletter at the link 🔗 https://bit.ly/3O9DUur
15/06/2023
Are you one of the many people who aren’t listing your property to sell? 🤔
Lack of supply is driving demand in real estate markets Australia-wide as people hold off selling for a whole bunch of reasons – a leading one being a lack of properties to repurchase. There was a big flood of properties expected to hit the market from the interest rate rises, but that hasn’t hit. People are finding ways to meet mortgage repayments as they don’t want to go into the rental market. 🙅 Who can blame them!
If there’s a scenario where you are interested in selling and repurchasing – our team would be happy to talk you through it, to see where you could land on the other side. Or if you simply want to check in with your mortgage and whether you’re on the best rate possible, we can help you there too. 📞 Get in touch today, call 1300 16 16 00.
When people ask about property forecasts, it’s important to note that we’re hearing there’s not a lot of properties on the market to purchase. The lack of stock is fuelling demand. 🙇
So, we have some properties in capital cities selling for record prices despite the increase of interest rates. 📈 That said, what else is driving demand in our real estate market?
Australia is experiencing a surge in overseas migration with our 22-23 forecast to be 400,000 and the 2024-25 forecast to be 260,000. These record numbers are well above our long-term historical average of 235,000. And people need houses to live in. 🏡 If you’re currently thinking of buying or selling, or are looking to get your foot in the door, it helps to have a mortgage broker working in your best interest. 📞 Contact our team today, we can help.
17/04/2023
Some banks are offering $4k or even $5k to entice people to change their mortgages over, however you must qualify for a loan with that particular bank. This depends on your unique circumstance as some banks view things differently; like maternity leave or overtime. There are usually stipulations like ‘you need to keep your home loan with us for 12 months.’ That’s okay - when the time is up, if their rates aren’t good enough, we can happily move you again.
Get in touch today if you’re wondering whether a cashback is an option for you. 🤔
Knowing what I do about banks, I would work with a broker every time. As a broker, I’m legally obligated – by Best Interest Duty – to work in my client’s best interest. No bank is inclined to do that. They aren’t here to be your mate, they’re here for their bottom line. It’s infuriating, but it’s something I see every day. People are paying more in rates than they should be. Drop me a line to see if you are one of those people. ~ Brett
14/02/2023
While the rising interest rates continue to refine how households with mortgages spend our income, some people are watching the market closely as it softens. 👀
Forbes recently reported that the value of Australia’s housing market fell 🔻 by -5% across Australia’s capital cities last year. Sydney dropped by -10.9% and Melbourne was down -5.9%. Rightly so, first home buyers, downsizers/upgraders, and investors are getting ready to go into the market, asking us, ‘Can I afford to purchase at the current interest rates?’
There’s an expectation that once rates stop rising, listings will increase, and more stock opportunity will surface. However, the answer here depends on the individual. What’s important is the understanding of where you sit. Together, we can work through the possibilities and set goals for you.
🗺️ For the map to where you want to be, contact me on 1300 161 600.
If your fixed rate period is wrapping up, it’s time to review what offers are out there that best suit your needs! Do be aware, banks are currently playing a great game where they say fixing for three years at 5.5%+ sounds like a good deal… but they can’t give you advice. I can. Don’t do it.
Be wary of fixing right now. You’re potentially locking in bad news for three years. When the rates fall - which they are going to do, eventually - you’ll be stuck. ‘Yes, Brett, but once-upon-a-time rates sat at 18% and I don’t want to keep getting hit by rises.’ Let’s not forget that was when the average mortgage was $100,000. Inflation - which goes hand in hand with rate rises – cannot rise forever, so be wary of fixing at this time. If you’re stuck or want to know what the best rate for you is, get in touch.
📞 Call my team on 1300 16 16 00 today, and we can chat. ~ Brett
21/12/2022
In my final message to our clients this year, I mention three steps to make the season brighter. It’s timely as interest rates continue to make an impact in households everywhere.
I hope you can take a moment to read it here: bit.ly/3hFPe3N
We wish you a safe and healthy Christmas. May you find both rest and adventure, and enjoy it well into the New Year. Selector Finance will be closed from 24 December, 2022, reopening on 3 January, 2023. We will respond to any messages then. Thank you from the Selector team for your support this year.
I don’t think we’re looking at a housing crash. There will be mismatches at times. Of expectations, of reality. What we do know is that the media will have a field day. Don’t buy in to it. ~ Brett
30/11/2022
🛒 Did you know online grocery shopping can help you save money? 💰
The average Australian shopper could save up to $1369 a year* by doing their grocery shopping online.
Must be because you spend less time in the choccy isle 🍫, and more time buying just the essentials! 😅
Speaking of saving money ... Give us a call today to explore some ways we could help you save on your home loan 😉
Let's chat - 1300 16 16 00.
*ING research
29/11/2022
Thank you Mark and Susie! Right back at you 😄
25/11/2022
💁♀️ 3 simple ways to pay off your home loan quicker ✅
1️⃣ Refinance: when was the last time you refinanced? The interest rate on your home loan might be higher than it could be. 📈
2️⃣ Make fortnightly repayments: There are 12 months in a year, and 26 fortnights. So by making fortnightly payments you can make an extra month's repayments each year. This can save 3 years and $16,000 in interest on a typical 30-year home loan.
3️⃣ Offset account: an offset account is a regular transaction account that's linked to your home loan. The advantage is that you only pay interest on the difference between the money in the account and the mortgage.
If you'd like help with getting the ball rolling on any of the above, we'd be happy to help you out! 😁
Email Brett today at [email protected] to get started 🙌🏻
Your bank does not reward loyalty.
Sometimes, it’s about understanding what your bank is willing to give you, and better still – what you deserve. We had one client come to us recently, and their existing interest rate was real high. I recommended going back to the bank - it was one of the old school banks that won’t talk to us as we’re a broker, but I could provide the client encouragement and direction on what to ask for.
The bank came back with a .3% difference. I said, try again - mention a certain number. It came back .8% lower than what he’d been on. Even with what they came back with, you’re looking at $6k a year in savings. I’m not going to push that. I asked him, “Do you want us to move you or not, that’s your call. It’s just paperwork.” He said, “Yep, let’s do it.” Remember, your bank does not reward loyalty, so ask the big questions or ask us to guide you with those questions.
~ Brett
Flick us an email with your details to see how we can help at [email protected].
22/11/2022
🇦🇺 Where are sellers currently happiest? 😁
Vendors are happier than ever, thanks to a booming housing market. But it turns out they're happier in some states than others:
1. Tasmania (77% of sellers are happy with the price they sold for)
2. South Australia (69%)
3. Queensland (66%)
4. New South Wales (65%)
5. Victoria (61%)
6. Western Australia (53%)
Are you thinking about selling and upgrading to a new property? 🏡
If so, get in touch with us to discuss your finance options!
Email us today at [email protected].
*RateMyAgent’s Price Expectation Report of 55,000 sellers.
Because it’s the only thing in the headlines. Rates are going up, inflation is rampant. It’s all we ever hear about. I often find once people have a good understanding of where they are with their income, their living expenses and their mortgages, they no longer worry about these trivial things. If you want a better understanding of where you and where you want to head, give me a call on 1300 16 16 00. ~ Brett
16/11/2022
🪴 From little things big things grow! 🌲
Did you know a quarter of first home buyers have considered starting their property journey with their friends, siblings or parents?
It's mainly because many are worried about being priced out of the market. 👨👨👦👦
Other common reasons for co-buying include being able to buy a bigger and better property 🏠, as well as spreading the financial risk if anything goes wrong. 😬
If you'd like to explore your co-buying or guarantor options, then get in touch on 1300 16 16 00. We'll explore you unique circumstance.
*CommBank survey
We’re getting a lot of clients coming to us who know they want to buy investment properties. And attached to that is a lot of questions around types of loans, that people don’t know:
Should I go interest only or PNI? Fixed or variable? They are loaded questions and ones that directly relate to your unique situation.
We would be happy to walk you through the options. Give us a call on 1300 16 16 00. 📞
11/11/2022
🔨 It costs $76,000 more to build a new home than a year ago* 🪚
Can you believe that? 😯
Don't blame the chippys though, they're doing it as tough as anyone right now. 👷♂️
Supply chain and labour shortages have hit home builders hard recently, and we've seen many construction businesses - both big and small - squeezed hard between soaring prices and fixed-price home contracts. 🧾
It all highlights the importance of having a professional like us help you find the right kind of finance to build your dream home. 🏡
We can help you find a construction loan that allows flexibility for unforeseen contingencies that are out of your control. 😉
Sound like a plan? Give us a call on 1300 16 16 00 we'll chat through your unique situation and dream build.
*on average according to ABS stats
10/11/2022
We love making the seemingly 'impossible' possible! Congrats on your new home Steve & Emm🤝
08/11/2022
🤔 What happens when your fixed interest rate period ends? 🏁
The number of mortgage holders fixing their interest rate peaked in July last year.* 📆
If someone with a $500,000 loan fixed back then on a 2-year rate of 1.94%, they would currently be paying $2,105 in monthly mortgage repayments.**
But when their fixed rate ends in July 2023, they could be looking at an average revert rate of 5.68% (if the forecast nerds are right). 🤓
This would increase their monthly repayments to $3,042 - an increase of $937 per month. 📈
If you're on a fixed rate home loan and your situation looks a little something like this, now is the time to start planning ahead and building up a buffer. 💰
For ideas on how to do this, feel free to reach out to us today and we can help you explore your options. Get in touch with us today and we can talk through your options, email [email protected]👇
*ABS Data **Rate City analysis
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Suite 611, Level 6, 100 Walker Street, North Sydney
Sydney, NSW
2060
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| Monday | 9am - 5pm |
| Tuesday | 9am - 5pm |
| Wednesday | 9am - 5pm |
| Thursday | 9am - 5pm |
| Friday | 9am - 5pm |
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