Australian Finance Solutions

The first home owners grant is a one-off payment to encourage and assist first home buyers to buy or build a new home.

There are two main parts to the FHOG:
1. $10,000 one-off payment. This is for people who are building new homes or have purchased a newly built never lived in home.
2. Stamp duty concession. If you buy a home for under $430,000 then you pay $0 stamp duty. Between $430,000 and $530,000 the amount of stamp duty you pay increases on a sliding scale, before returning to normal above $530,000. If you are purchasing a new or established home you are eligible for this.

What are the main eligibility criteria?
1. You must be an Australian citizen or Australian permanent resident.
2. Over the age of 18.
3. You must not have previously owned residential property in Australia and occupied the property.

Send us through a message today if you'd like to have a chat about the First Home Owner's Grant!

Ready to buy your first home?

Want to know how much you can borrow and if you have enough deposit?

Contact us today for an obligation free chat!

We get asked this question A LOT!

There are a couple of great reasons why you should use a finance broker:

1. We are free! This is a big one. A lot of people ask us how much we charge. We get paid a commission from the bank, so we are a free service to our clients. There are a few scenarios when we will charge a fee. The main ones are for consumer car loans and personal loans (this is because the lenders don't pay us for these deals) . If we are charging a fee we'll let you know up front so you can decide whether or not you'd like to proceed!

2. We work for you, not the banks. When you come to see a finance broker by law we have to act in your best interests. The banks on the other hand do not!

3. We do all the work for you. No need to stress about organising finance as we prepare everything for you.

Send us a message today if you'd like to have a chat about your finance needs.

Happy Tuesday 😊

Congrats on getting through Monday, only 4 more days until the weekend!

We hope you all have an amazing week.

If you need any assistance with finance this week please reach out to us for a chat!

What is a guarantor?

If a person is going guarantor on your mortgage then they are providing an additional security for your home loan. This person is usually your mum or dad.

Most banks only offer what is known as security guarantors these days. This means that the guarantor offers up their property as additional security for your home loan. The guarantor's security doesn't cover the entire loan, usually it's only for a 20% deposit - enough to get you out of mortgage insurance territory.

A lot of first home buyers use their parents as guarantor when purchasing their first property. If their parents have enough equity in their property it allows them to buy a home without having to pay mortgage insurance if they don't have enough deposit saved up.

It is important for guarantor's to receive independent legal advice to make sure they are aware of what they are agreeing to.

If you have any questions or would like to have a chat send us a message today!

Meet Our Brokers
Alex Torgashev specializes in all types of finance, including:
- Home and Investment Loans
- Refinancing
- First Home Buyers
- Asset Finance
Contact us today to have a chat to Alex!

Hmm I think at least 98 of my problems could be solved with a little extra spending money!

Meet Our Brokers!
Ian joined Australian Finance Solutions in 2019 as a Finance Mortgage Broker gaining qualifications in residential, commercial and asset finance as well as accreditations to over 30 different lenders.

Ian understands the importance of being able to meet client's needs and expectations and prides himself on his honesty, integrity and professionalism throughout the entire finance process.

Ian is also an active participant in the local community where he has coached AFL community football for 25 years!

Send us a message today to have a chat to Ian about your finance needs or contact him directly on 0455 552 662 or [email protected]

Meet Our Brokers
Stacy Ward has been a broker with Australian Finance Solutions for over 20 years. Stacy specializes in:
- Home Loans
- Refinancing
- Investment Loans
- First Home Buyers
Contact us today to have a chat to Stacy about your finance needs!

Pros and Cons of variable rate loans!
There are a number of things to consider when deciding whether to set up a variable or fixed rate home loan. Have a chat to us today about the pros and cons of variable rate loans!

Are you starting up a new business and looking for some extra funds to fit the place out? No problem at all! Chat to us today about how we can help.

This may be the most relatable thing I have read this morning... Anyone else?

Chasing some extra money to make your special day that little bit more special? I know how expensive wedding planning can be (I'm currently planning my big day as we speak!). Contact us today to have a chat about your personal loan options.

What are cash back offers?
Various lenders sometimes offer what is known as refinance cash back offers. The general premise of these is that if you refinance your current home loan away from your current lender to them they will pay you a cash back. Usually this ranges between $1000 - $3000. There are usually a few conditions that need to be met, for example minimum loan amounts etc.

If you are thinking of refinancing, looking for lenders who are offering refinancing cash backs can be a great thing to do. This is because it reduces your costs of refinancing to another lender and usually leaves you with a bit of extra money in your pocket after all is said and done!

Contact us today to have a chat about your refinancing options.

Meet Our Brokers
Rama Rajenthiran is part of the Australian Finance Solutions team and specializes in:
- Home Loans
- Refinancing
- First Home Buyers
- Asset Finance
Contact us today to have a chat to Rama about your finance needs!

Wouldn't it be nice though if it worked. Everyone would be getting (socially distanced) hugs!

Lenders mortgage insurance is one of those things that people get a little confused about. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
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What is LMI?⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
LMI insures the lender for any shortfall in the event that you default on your loan and if the proceeds from the property sale are not enough to pay off the loan in full. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
It is important to remember that LMI insures the lender, not you. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
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When is LMI required?⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
Generally speaking if you have less than a 20% deposit then LMI is required. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Who pays for it?⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
You pay the LMI premium. The amount of LMI you pay will depend on a number of factors, including how much deposit you have and what your loan amount is. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Sometimes it is impossible to avoid LMI, so it is important to understand how it works and the cost involved.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Send us a message today to have a chat about LMI and your finance circumstances 😊

~ Meet Our Brokers ~⠀⠀⠀⠀⠀⠀⠀⠀⠀
Ian is one of our brokers here at Australian Finance Solutions. Ian specializes in home loans, first home buyers, refinancing, car loans and personal loans. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Send us a message today to have an obligation free chat to Ian 😊

There are some disadvantages of having a fixed rate home loan. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
1. If interest rates decrease you could be stuck paying a much higher interest rate. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
2. You usually can’t make extra repayments to pay off your home loan early during a fixed period. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
3. There are usually large exit costs associated with getting out of a fixed loan early. The exit fee depends on a number of things including how long your fixed period has left, the size of the loan, the interest rate etc. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
4. If you want to refinance early and break your fixed period then you get hit with large exit costs outlined in point 3 above. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Message us today to see if a fixed loan is right for you 😊

Busy planning your big day? Send us a message today to have an obligation free chat about your personal loan options 😊

🐣 Happy Easter from the team at Australian Finance Solutions

~ Meet Our Brokers ~⠀⠀⠀⠀⠀⠀⠀⠀⠀
Mark is one of our brokers here at Australian Finance Solutions. Mark specializes in home loans, first home buyers, personal loans and car loans 🚗 ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Send us a message today to have a chat to Mark about your finance needs 😊

A fixed rate home loan is exactly how it sounds. It’s where your interest rate stays the same for a set period of time. The most common fixed periods available are 1 year, 2 year, 3 year, 4 year, 5 year, 7 year and 10 year fixed periods. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
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The great part about fixed rates is that they are usually a bit cheaper than their variable counterparts. They also offer peace of mind as you know your rate isn’t going to increase during the fixed period. This can make planning and budgeting a lot easier.⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
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There are some downsides though. You usually can’t make too many extra payments during your fixed period without being hit with extra fees and charges. It can also be very expensive if you want to get out of a fixed loan. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Have a chat to us today about fixing your home loan!

Have you checked your interest rate lately? Now is the perfect time to look into refinancing your home loans. We are currently seeing some fixed rates in the high 1% range. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Message us today for an obligation free chat about your home loans 😊

~ Client Testimonials ~⠀⠀⠀⠀⠀⠀⠀⠀⠀
Send us a message today to have a chat about your finance needs 😊

Have you found your dream home? Unsure if you can afford it or even how much you can borrow from the bank? No problem at all, we specialize in home loans! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Send us a message today for an obligation free chat 💬

An offset account is an everyday transaction account which is linked to your home loan. You can deposit your salary and savings into this account and use it as a normal transactions account. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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The balance in the offset account offsets interest in your home loan. For example, if you had 500K in your home loan and 100K in your offset account you would be charged interest in your home loan on 400K. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Should you get an offset account?⠀⠀⠀⠀⠀⠀⠀⠀⠀
It really depends on your situation. Usually home loan products which offer offset accounts come with more fees and charges as opposed to more basic home loan products. The best thing to do is to have a chat to your broker about whether an offset account is right for you!

~ Meet Our Brokers ~⠀⠀⠀⠀⠀⠀⠀⠀⠀
Mark is a successful risk, HSE and projects professional with Executive and Senior Management experience across multiple industries and international work environments. Mark now spends his time trying to make a difference by assisting others in achieving their goals through the provision of Finance and Mortgage Broking Services.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Mark specializes in:⠀⠀⠀⠀⠀⠀⠀⠀⠀
- Residential loans, including FHOG⠀⠀⠀⠀⠀⠀⠀⠀⠀
- Investment loans⠀⠀⠀⠀⠀⠀⠀⠀⠀
- Car, motorcycle, boat and caravan loans⠀⠀⠀⠀⠀⠀⠀⠀⠀
- Equipment and machinery loans⠀⠀⠀⠀⠀⠀⠀⠀⠀
- Commercial loans⠀⠀⠀⠀⠀⠀⠀⠀⠀
- Debtor finance⠀⠀⠀⠀⠀⠀⠀⠀⠀
- Personal loans⠀⠀⠀⠀⠀⠀⠀⠀⠀
- Self managed super fund loans⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Send us a message today to have a chat to Mark about your finance needs 😊

Applying for finance can be difficult and confusing at the best of times. This doesn’t have to be the case though! If you work with one of our experienced and dedicated brokers they’ll do all the hard work for you.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Usually the finance process looks a bit like:⠀⠀⠀⠀⠀⠀⠀⠀⠀
1. Have a chat to us about your borrowing capacity. During this initial conversation we find out what it is your looking to do and let you know some of your options.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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2. A pre-approval isn’t necessary however can give some peace of mind when putting offers down for properties. We can help get this organized for you so you can focus on the fun stuff, property hunting! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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3. Now it’s time to find your property. You are armed with your pre-approval or borrowing capacity knowledge. Put your offer in and wait to see if it’s been accepted!⠀⠀⠀⠀⠀⠀⠀⠀⠀
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4. Once your offers been accepted we get all the documents and application forms organized for you and submitted to the bank.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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5. If the bank is happy then you’ll receive your formal finance approval. Usually this takes less than 28 days from your offer being accepted.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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6. Settlement usually occurs around 28 days after finance approval. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Now it’s time to celebrate 🎊 you’ve bought a house!

Are you purchasing a new car? ⠀⠀⠀⠀⠀⠀⠀⠀⠀
Did you know that if you have been self employed for 2 years and are purchasing your new car predominately for business purposes you can apply for certain loans without the need to supply tax returns and financials? ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Send us a message today to have a chat about your car loan options 🚘