Share on facebook Share on twitter Share on linkedinBuy-now-and-pay-later business, Afterpay is definitely shaking up the payment marketplace. There’s even a nightclub that’s proposing to offer it to it’s customers. Even still, it’s a highly debated issue among Australians. My advice about Afterpay? And if you’re thinking about purchasing, investing or refinancing a property in early 2020, don’t use Afterpay for your holiday shopping.More generally, if you’re going to use it, do it after you’ve got your home loan. Banks and lenders that see Afterpay on your banking statements get nervous about your saving and spending habits. More simply, it raises flags about a consumer's ability to budget and live within their means.I’m working with many customers who have very strong loan applications but are running into issues because of just a few small Afterpay transactions.If you’re going to use Afterpay, use it as a short term incentive but make sure to pay it back as quickly as possible.If you need a hand managing your existing Afterpay payments, or would like to know more about how these could impact your home loan application, I'm happy to speak with you. Let's get real about Afterpay Hit the button below to arrange a conversation with one of my debt management specialists to lower the affect on your home loan application.Chat about my debtWe experts in debt consolidation. You're in good hands. FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Why you should avoid Afterpay
First home buyer help is on the way
Share on facebook Share on twitter Share on linkedinA controversial new scheme has passed in parliament that aims to help First Home Buyers get into the property market. The program will help buyers get into a property with a 5% deposit but it’s estimated that less than 1 in 10 buyers will receive it.The big savings are that the government will ‘guarantee’ the loan so that the borrower will not have to pay Lenders Mortgage Insurance (LMI).Other details around the scheme are still a bit unclear but here’s what we know so far:The scheme is capped to 10,000 buyers a year. It will ‘guarantee’ loans for first time buyers with deposits as small as 5%. There is an income cap of $125k for individuals and couples earning more than $200k. There is a price cap in cities and regional areas. Click here to see the ranges. The scheme will start on January 1st 2020. It will only be available through some lenders.If you’re thinking about this scheme or know someone who is, let me know. I can make sure you’ll have a good chance at being one of the lucky 10,000 who receive this. Let's scheme! Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation.Apply for this scheme todayWe partner with over 50 lenders so you can find the perfect solution FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about First home buyer help is on the way
Housing turnover coming back from a historic low
One large factor that is often underreported when talking about the national property market slump is the percentage of turnover in the market - the percent of property on the market that sells.Recently released data by the RBA has shown that housing turnover is a 30 year low but there is good news on the way. With the election out of the way, lower interest rates and the start of the spring selling season the numbers are starting to rebound. Here’s some other key takeaways:Analysts claim one of the biggest reasons for the historic low was a low level of stock.Around 70% of housing turnover today is from existing property.Turnover from newly built housing is rapidly falling.If you’re looking to take advantage of buying conditions before the market might heat up again, I can help make sure you’re setup with the right loan.Let's talk property!Hit the button below to arrange a conversation with one of my specialists to find a deal that's best for your situation. Talk about property today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Housing turnover coming back from a historic low
Are you upset banks aren’t passing the full rate cuts? Then read this…
The RBA has lowered interest rates three times in the past five months and each time there’s been a wave of disappointment homeowners whose banks aren’t passing on the full savings.Why does the RBA cash rate affect your home loan interest rate?The cash rate that the RBA meets and sets each month is essentially a lever that dictates the interest rates banks need to pay to borrow money on overnight markets. The overnight market rate in turn impacts the costs banks incur to continue holding the variable rate loans they’ve issued.So when the cash rate goes up or down, banks will all react differently.Here’s what you need to knowRBA cash rate movements impact the existing variable rate for a homeowner but not their fixed rates.Just because a lender passes on the full savings for one RBA rate cut, doesn’t mean they will the next time.Some lenders pass on the rate cuts right away, some wait a few weeks.Banks can and often move their interest rates without the cash rate being adjusted.Choosing a lender or a home loan has to be about your long-term strategy and how that bank reacts to the RBA rate adjustment is just a small factor in choosing a loan.As a broker, here’s two ways I can help right away;Provide you with a full breakdown of how all banks and lenders have reacted to the 2019 RBA rate cuts.Analyse your current loan and interest rate and see if a more competitive deal might now exist.Let's chat rates!Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation. Book a review today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Are you upset banks aren’t passing the full rate cuts? Then read this…
Say goodbye to the good old mattress bank!
The government has proposed legislation that would make it illegal to use cash for purchases above $10,000.Instead, Australians will have to use electronic payments or cheques (remember them?).This reform was recommended by the government’s Black Economy Taskforce to tackle tax evasion and other criminal activities.The change is scheduled to take effect on 1 January 2020.Let's chat property! Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation. Book a review today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Say goodbye to the good old mattress bank!
Thinking of building? What you need to know
If you are looking to build or purchase a property off-the-plan, you MUST start planning very early. Lenders can be extremely cautious about certain types of purchases. As you can see above, it’s a process that can take over a year. It’s definitely worth having an expert help you along the journey. Source: QBE Australian Housing Outlook 2019-2022As an example, one of the biggest challenges I help my customers overcome is making sure they have the right budget in place for the fluctuations that might occur with cash-flow. Get in touch if you want to learn more.Let's talk about new propertyHit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation. Chat new property today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Thinking of building? What you need to know
Fixed rate rule changes
The rules around how you much you can additionally pay off your fixed rate home loan, over and above your normal repayment amount are changing. Many lenders are now adding maximum amounts you can additionally pay on an annual basis or over the term of the loan. Some lenders have also introduced fees if you do want to go over their policy threshold.Why are banks doing this?Essentially it comes down to minimising their risk. The fixed rate funds they lend can be from deposits or investments that require them to pay back a certain interest rate that matches the loan term.What can you do?If you have a fixed rate or are thinking about taking one out, let’s talk. There’s a few steps we can take that could save you money:Match a fixed rate term to your goalsCompare hundreds of fixed rates from different banksWeigh up different pros and cons of each lender (some lenders even offer offset accounts with fixed rates now).Give me a call if you want to chat about fixed rate home loans.Fix my rateHit the button below to arrange a conversation with one of my rate specialists to find the best deal for you. Fix my rate today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Fixed rate rule changes
Insurer predicts property price growth
Trying to predict where property in this country is heading is something everyone’s got an opinion on. It’s notoriously difficult to get right and whatever forecasts you see, need to be taken with a grain of salt. That all said, QBE released their annual Housing Outlook and they have calculated some interesting trends over the next 3 years:Growth in house prices in all capital cities.Growth in unit prices in all capital cities except Sydney.Double digit house price growth in Adelaide and Brisbane.Unit prices in Darwin and Canberra to increase significantly.If any of these figures have you questioning your purchasing, refinancing or investing plans I’d really like to have a chat with you.Let's talk property! Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation. Book a review today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Insurer predicts property price growth