Mortgage Choice Bayside - Tim Leonard

📣 *Breaking News* The Reserve Bank has announced they are holding the cash rate steady at 4.35% for the fifth consecutive time. Recent data shows that inflation is not easing as quickly as expected and experts are now predicting that we might have to wait until early 2025 for a cash rate cut.

The good news is: the RBA now won't meet until August - and a lot can happen between now and then.

Let's use this time to see if your own unique finances could support your next property goal. We can help you:

✅ plan for your first home
✅ plan for your first investment purchase
✅ get a second opinion on your current loan
✅ re-negotiate your rate with your current lender
✅ pivot your property finance strategy

Get in touch 📞 03 9589 7277 or click https://bit.ly/3IRQnQ8

By effectively boosting your post-tax income, the 1-July tax cuts could increase how much you can borrow (and comfortably afford to repay).

With housing affordability at its lowest for 30 years, these tax cuts couldn't have come at a better time - especially if you're borrowing to buy your first home. ✨

Borrowers with an income of $100,000, could see their borrowing capacity increase by about $25,000. Those with an income of $150,000 could see their borrowing capacity increase by about $37,000. And at auction, that little bit extra could mean all the difference.

Find out how much your borrowing capacity will change after 1-July 👉 DM us or call 📞 0416 164 132.

Source: https://bit.ly/4c1bRWR

In 2005, we took a chance and started Mortgage Choice Bayside from a bedroom at home, all while juggling three young girls (one of whom has now joined the business 😍)

Our dream was to build a family business that supported the local Bayside community - something we've now been doing for almost 20 years.

We're so proud of our local, family business and all the goals we've helped people reach along the way.

The number of new loans written by a Mortgage Broker has now hit an all-time high! ✨ 74.1% of all new home loans written between Jan and March 2024 were written by a Mortgage Broker.

We're stoked that more people are choosing to go through a mortgage broker instead of their everyday bank. Here's why:

✅ Your everyday bank might approve your loan, but they aren't necessarily offering the best deal. Using a broker makes sure you have a competitive deal that suits your finances.

✅ We give clients access to home loans from over 35 lenders and thousands of options to choose from. We like to think that levels the playing field and helps everyone get a fair deal.

✅ Our home loan service is free because the lender you choose pays us when your loan settles. It means that everyone can access advice on their home loan without having to worry about the cost.

So, here's to every Aussie having access to independent, transparent home loan advice 🍾

*MFAA https://bit.ly/4c4bvPy

We know how expensive everything is right now, so we're on a mission to help everyday Aussies save money on their home loan. How? By making sure your loan is still competitive with our free home loan review.

It's quick, easy and could save you thousands.

If you have a loan you haven't checked in a while, here's how we can help 👇

✨ Reprice: We approach your current lender to ask if they are willing to discount your interest rate. It can be the fastest and easiest way to save. We know what is a competitive rate right now, and if they're not offering enough, we push for more.

✨ Refinance: We then compare your current loan to what's on offer from our *epic* panel of 35+ lenders. We search around for a great deal (lower interest rate or better features) and negotiate with them directly to see if we can push for an even better deal.

✨ Restructure: Sometimes, all you need is a bit of restructuring to free up cash flow or consolidate any smaller debts. Time and time again, we have seen this make such a HUGE difference to the finances of our clients.

BOOK a free review of your home loan ✉️ DM us or SMS 'Review' to Tim on 📞 0416 164 132.

A few averages for ya.🤯

We're doing lots of loan reviews and health checks at the moment. If you want to check if your rate is still competitive - get in touch!

📞 Call Tim on 0416 164 132 or click https://bit.ly/3IRQnQ8

*This information does not constitute financial advice. Everyone's circumstances are unique. Please chat with your own trusted experts before making any decisions.
**Rates current as of 1st May. Based on $400,000 loan (OO, P&I, LVR >80%) Source: https://bit.ly/3VcYeyZ

When Mortgage Brokers first came on the scene in the 90s, we were basically a way to compare rates in a pre-internet era. Only about 10% of loan applications were put together by a broker.

Fast forward to 2024 and that number is now over 71%!

While a lot's changed since then, here are a few things that haven't 👇

💙 Our service is still completely free
💙 We still provide quick rate comparisons
💙 We still do all the work and push the banks for a great deal

Need some advice? 📞 Call or SMS Tim directly on 0416 164 132 to book a chat.

If you're a healthcare professional, you might be eligible for what's known as a 'medico package' loan. 🌿 They come with some fantastic perks like better interest rates, discounted fees, higher Loan-to-Value Ratios and the opportunity to have an LMI waiver included in your loan (so you don’t pay lenders mortgage insurance).

🔵 Each lender has a different list of what professionals are eligible, but they often include doctors, audiologists, dentists, midwives, osteopaths, chiro, podiatrists, physiotherapists, registered nurses and more!

🔵 If you are eligible for a medico package, you may also be able to borrow up to 95% without paying LMI and up to 100% for the fit-out of a clinic or place of business.

Keen to understand your options? Get in touch with us! We'll have a look at your eligibility and push for a great deal.

There's one thing everyone needs: a place to live. This has become increasingly hard to come by, whether you're hoping to rent or buy your own home. Last night's Federal Budget did little to help with our current housing crisis.

The budget was aimed primarily at bringing the cost of living down. But...did it?

While there were definitely some great things coming out of the budget (like increasing support for seniors) we're not sure that it made much of a dent long term.

Here are just a few select points from the budget:

COST OF LIVING:
🙎Stage 3 tax cuts come into effect on 1 July, which could be worth thousands of dollars a year to an average taxpayer, depending on income.
🙎 Each household will receive a $300 power bill rebate, no matter their income or if they own a second home.
🙎 While the solar industry has received subsidies to boost the manufacture of solar panels, there are no additional rebates for households looking to cut their power bills in the long run.
🙎 There were no inclusions to help with the cost of food and no decrease to the fuel excise meaning motorists will continue to struggle with fuel prices - as well as the knock-on effect for small business and grocery prices.

HOUSING:
🏠 This budget did not include any additional assistance to homebuyers to help with the cost of buying property. However, $1.9 billion will go to those on the Commonwealth Rent Assistance Program, who will receive a 10% increase in the maximum rate of rental assistance.
🏠 The government will provide the states and territories with a further $1 billion to deliver new housing infrastructure including roads and connecting essential services.
🏠 Universities with large international study bodies have been told to build their own accommodation. This would hopefully ease the pressure on the rental market.
🏠 To speed up home building, the government will invest $88.8 million to deliver 20,000 additional fee-free TAFE places for construction-related courses.

Read more about the budget 👉 https://bit.ly/3yimeXU

Buying a house will likely be your biggest purchase, ever. It's not something we take lightly.

And we'll be the first to tell you how much goes into getting a competitive home loan across the line.

We're here to:

✅ Find you the right loan, with a great rate and features from over 35 lenders. We do the negotiation required to get you a great deal.
✅ Do all the heavy lifting to get your loan to settlement. You don't have to call your bank or spend hours slogging through the application - we've got it.
✅ Support you with truly tailored advice, from Govt incentives for your first home through to strategies to get your loan paid off faster.

First home? Next home? Investment? Refinance? We can help. 📞 Call or SMS Tim directly on 0416 164 132 to book a chat.

*Home Loan Hack* Most people think that their Loan-to-Value ratio is only important if they're trying to borrow money. 🏠 But your LVR determines how 'risky' you are to your bank, which is KEY if you're re-negotiating your rate.

Here's why LVR is important if you have a home loan. 👇

This information is for general education purposes only and is not intended to constitute personal advice.

“There is no way to be a perfect mother and a million ways to be a good one.” — Jill Churchill

Happy Mother's Day to all the mums out there! ❤️ We're so lucky to have you.

📷 Kaz and the girls

Just a few weeks ago, Victorian Treasurer Tim Pallas said that housing is the "defining issue of our times". But yesterday's state budget was almost devoid of any housing announcements.

This budget definitely puts pressure on the federal government to get some of the housing schemes right in their own budget (to be released next week).

Here are some of the few VIC property announcements made 👇

🏠 An additional $700 million to be added to the $2.1 billion Victorian Homebuyer Fund (a shared equity scheme). The maximum purchase price for homes in regional Victoria will be lifted from $600,000 - $700,000. This is the final investment before the fund is superseded by the national scheme.

🏠 A further $19 million will go to public housing residents to help speed up the resolution of maintenance issues and housing complaints.

🏠 Residential stamp duty to stay. Many of us were hoping VIC would follow in NSW's footsteps and trial a switch to residential land tax, but it's not to be.

The Melbourne property market definitely has its challenges for anyone trying to buy, and it's becoming even more important to have an expert (like us!) in your corner.

Let's see what the Federal Budget has in store for housing next week.👍

Read all about the announcements https://bit.ly/3UytA0Y

The RBA has just announced that they will be leaving the cash rate on hold at 4.35%.🎉

It might seem like a non-event but the longer the cash rate stays on hold, the more likely we are to see cuts in current interest rates. We are already seeing lower rates released from a range of different lenders.

Now is the perfect time to book a review of your home loan with our team. It's all about keeping more money in your pocket if we possibly can.

✅ We review your loan to see how it stacks up and ask your current lender for a discount.
✅ We then look at what the rest of our 35 lenders are offering to see if there's a better deal.
✅ We let you know what we've found and if it will save you money.
✅ If you decide to go ahead, we organise it all for you!

The best part? Our home loan service is completely free!

Book a review of your loan with us! Call 📞 03 9589 7277 or click https://bit.ly/3IRQnQ8

Our team loves helping with new loans, but saving you money on an existing home loan is where we really ✨shine✨

Abby's been busy making calls to our existing clients and reviewing their home loans. She's seeing some incredible results!

If you want to skip the queue and get your home loan reviewed NOW, shoot Abby an email:

✉️ [email protected]

It's a completely free service, so you've got nothing to lose...except maybe years off your home loan 😉

Here's how it works:

🔴 We ask your current lender for a discount on your rate - it's often the easiest and quickest way to save money.
🔴 We have a look at our 35 lenders to see if any other lender is willing to give you a better deal.
🔴 We lay out your options clearly and then manage the refinance if you choose to switch.

"At the going down of the sun and in the morning, we will remember them."

❤️ [For the Fallen - by Laurence Binyon]

In the first three months of this year, we have helped a lot of new and existing clients negotiate a better rate. And we can honestly say we are seeing some amazing results and some very happy clients. 💪

If you're not sure that your interest rate is still competitive, here's how we can help:

✅ We talk to your current lender to see if they will discount your rate. We also look into requesting a new property valuation; a lower Loan-to-Value ratio can often trigger an immediate rate discount.
✅ We then have a look at refinancing your loan with another lender from our *epic* panel of 35+ lenders.
✅ We also look at restructuring your current loan or consolidating your debts to save you some money.

Book a free review with us:
📲 SMS Tim on 0416 164 132
▶️ Book a call https://bit.ly/3IRQnQ8

There is no such thing as a 'silly' question when it comes to your own home loan and finances.

From our families to yours - Happy Easter for tomorrow everyone! ❤️

One of the things we love most about being a mortgage brokers is how independently we operate from the rest of the market.

We're not influenced by lenders, the media or even other mortgage brokers. Our sole focus is on what the client wants to achieve, and what is going to give them the best outcome. 💪

And when it comes to borrowing for the biggest purchase of your life (a home!) 🏠 it's so valuable to be able to rely on advice from an expert who has the same goals as you - your goals.

Get in touch with us 📞 0416 164 132

Well, we are loving this new normal! The RBA has just announced that they are holding the cash rate steady at 4.35% for the third consecutive month. 🎉

It's been a while since we've had a breather like this. We're now likely to see lenders lower their interest rates for new customers.

And it's a great opportunity for existing borrowers to see if they can get a discount with their current lender (or a new one!)

If you have a home loan, get in touch with us for a quick (free!) review 👉 DM us or call Tim on 0416 164 132.

You absolutely CAN get a discount from your current lender, and it's something we recommend looking into on a regular basis.

A lot of homeowners miss the opportunity to save on their home loan - simply because they don't know their options. In our opinion, your lender should be working hard to keep you!

But as always - it's better to have an expert on your side. We can tell you if the discount your lender is offering is a good deal, or if we should look elsewhere.

If you're just not sure what your options are or even if your loan is still competitive ▶️ book a free review of your home loan with us. We'll get it sorted for you.

📞 Call or SMS Tim on 0416 164 132

Happy International Women's Day to all the important women in our lives and on our team!

This year’s International Women’s Day theme is ‘Count Her In’. At Mortgage Choice, we're passionate about equality in finances and property. Everyone has the right to a home and to feel safe financially.

Here are a few important numbers to remember today:

🚺 1884: The year that South Australia passed the first 'Married Women's Property Act' which changed the law to allow married women to own, sell and buy property in their own name, keep their own wages, enter into contracts and apply for custody of their children.

🚺 3.3%: The difference in homeownership between men and women. The gap grows to more than 7% when looking at investment property ownership. Aussie men are 10% more likely to own a stand-alone home.

🚺 $106,236: The average savings of men in the pre-retirement 50-64 years age group. Women in the same age group have just $22,759 - a difference of 336%.

Let's celebrate how far we've come and look to our next steps!

Sources: https://bit.ly/46rEmKS https://bit.ly/4c2kGke

We wanted to take this 'extra' day to remind you: it's not about having the perfect journey - it's about making progress.

Don't give up if you're not exactly where you wanted to be. Every journey looks different.

Just start taking steps in the right direction and celebrate the progress you make along the way.🎉