Empower Property Finance

Attention first home buyers!⠀
The First Home Guarantee (FHBG) is back!

FHBG is an Australian Government initiative to support eligible first home buyers purchase a home sooner.
This enables an eligible home buyer to purchase a home with as little as 5% deposit without paying Lenders Mortgage Insurance.

Under the FHBG, 35,000 places are available to eligible first home buyers from 1 July 2022 – 30 June 2023

What is refinancing?

Refinancing is when you change your current home loan to a new one that satisfies your current financial situation. It can either be done internally (with the same lender) or externally (with a different lender).

With rising interest rates, it's a always a good idea to review your situation.

Word of the day

Empower Property Finance

Deadlift 4 Dollars

is an annual charity event run by to support the work of

Beyond Blue provides information and support to help everyone in Australia achieve their best possible mental health

This year we’ll be sponsoring 5 athletes/lifters as they deadlift for a greater cause:tombulk





No pressure guys but let's smash that 1000kg total 💪😁

 

New job in a new industry?
No minimum employment length and no probation policy with NAB for full/part time workers

Hi hello it's Mat 👋
I'm just a guy that loves helping people achieve long term success through property finance 🏡

Word of the day

“RBA raises cash rate”

What does a cash rate hike actually mean?
In layman’s terms, raising interest rates makes borrowing money more expensive.

That means, for people with a mortgage, their repayments are higher.
But it can also lead to more returns on savings and on superannuation, both of which accrue interest on growth.

The RBA uses interest rates to manage the rates of inflation.
When borrowing becomes too expensive, the demand for goods and services can become less, bringing the overall cost down.
The last time the rate increased was more than a decade ago, in November 2010.

What are the additional costs when purchasing an investment property?

Along with the cost of your deposit, you need to account for the cost of building inspections, stamp duty, conveyancing fees and any legal costs.

Quote of the day

Happy Easter!

Are you self employed?
For most lenders, you will need at least two years’ tax returns and financial statements to determine taxable income.
ANZ is one of the lenders that may consider one year’s tax returns and financial statements.

What is the difference between an investment loan and a home loan?

Unlike a home loan, costs associated with an investment loan are tax deductible (eg interest, repairs, rates, depreciation, etc). However, be aware that any rental income will generally increase your taxable income. Another key difference is that any appreciation in the value of an investment property (capital gains) is taxed.

For relatively newly self-employed medical professionals St George may consider projected earnings potential when calculating borrowing capacity

How much does a property manager cost?

The cost of having a professional manage your rental property is between 5-10% of your total rental income each week. So, for a property with an average rental return of $550 per week, you would need to pay the agent between $27.50 and $55 per week, which amounts to between $1,430 and $2,860 per year. If you compare this to the time commitment and potential costs you could face if you were to represent yourself at the tribunal, this weekly management fee is marginal.

Attention first home buyers!⠀
The First Home Loan Deposit Scheme (FHLDS) waitlist is re-opening!
⠀
FHLDS is an Australian Government initiative to help you buy or build your first home sooner.⠀
If you’re eligible you’ll get a limited guarantee from the Australian Government to buy or build your first home with a low deposit of 5%, without paying Lenders Mortgage Insurance (LMI).⠀
In conjunction with FHLDS, you may also be entitled to a concessional rate of transfer (stamp) duty or even an exemption from paying it altogether under the First Home Buyers Assistance scheme (FHBAS).⠀
⠀
Note that FHLDS places are strictly limited.

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What is negative gearing?

If you earn less from an investment property than it’s costing you, you’re said to be negatively geared. The motivation to be negatively geared is that it reduces your taxable income and you accept a short-term loss in the hope of a capital gain later.

$1 LMI campaign offer for first property purchase (owner occupier and investor), with LVR 80.01% up to 85.00%

T&C's apply

Don’t you just recommend the lender who pays you the most commission?

Absolutely not. First of all, there is very little difference between the commissions paid by the various lenders. There is also legislation in our industry called the National Consumer Credit Protection Act (or NCCP), that is designed to protect consumers and ensure ethical and professional standards in the finance industry. We tell you upfront what commission we will be getting from the lender. Our job, our only job, is to find a competitive loan for your needs and objectives.