Share on facebook Share on twitter Share on linkedin Australia’s competition watchdog, the ACCC, has delayed the rollout of open banking by six months to July 2020. The delay is to allow for additional implementation work and security testing to be completed. What is open banking? Open banking gives consumers access and control of the financial data that banks and other institutions hold on them. Currently, it’s hard for a person to get hold of this information, and for them to ask that it is shared between banks and other accredited companies. How will open banking benefit consumers? Once open banking is implemented, it will make it easier for consumers’ actual circumstances to be taken into account when they are engaging with home loan lenders and other providers. This will make quotes more accurate, and improve people’s ability to compare and switch between products and services. Find out how open banking affects you. Hit the button below to arrange a conversation with one of my specialists. Chat with us today We partner with over 50 lenders so you can find the perfect solution Follow Facebook Linkedin Do you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Delay to open banking rollout
Accelerating demand for electric and hybrid cars
Share on facebook Share on twitter Share on linkedin The latest findings from Roy Morgan show that the demand for environmentally-friendly vehicles is growing at the expense of petrol-powered engines. While petrol engines remain the most likely choice of new vehicle type (59.1%) this is down 6.3 percentage points compared to a year ago. The number of people intending to buy either a hybrid or electric vehicle rose 4.7 points and 1.6 points respectively over the same period. Roy Morgan CEO Michele Levine said that “given the increasing focus on environment issues, we can expect those numbers to keep rising.” If you’re looking to buy a new vehicle this year (be that petrol, diesel, electric or hybrid) don’t pay more than you need to on car finance. While financing a car through the dealership may be more convenient, it often leads to higher rates and fees. As a broker, I work with several lenders that offer low rates for car purchases. Looking for car finance? Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation. Chat about car finance today We partner with over 50 lenders so you can find the perfect solution Follow Facebook Linkedin Do you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Accelerating demand for electric and hybrid cars
Why bank valuations are so important for buyers and owners
Share on facebook Share on twitter Share on linkedin Whether you’re buying or refinancing a property, the question of how much it is worth is of critical importance. People often make the mistake of assuming that a property’s bank valuation will match its market value. This can sometimes lead to a rude shock when a bank valuation comes in lower. Bank valuations vs market valuations The market value is an estimate of what the property could fetch on the open market. It can sometimes be higher than a bank valuation, which is used to determine the loan-to-value ratio (LVR) of a specific property when using it as security for a loan. It's important to note that bank valuers are looking at historical data (past sales), whereby an agent/market valuation is based on what might be achieved in the future. Why bank valuations are so important Bank valuations impact the amount of money a bank is willing to lend. If a valuation comes in low, the bank may reduce your borrowing capacity. This might make it impossible for you to buy a new home or pull out enough equity from your existing property to fund the purchase of an investment property. You need expert help It’s important to note that not all banks will value a property in the same way. As a broker, I can give you inside info on the different ways in which various lenders approach valuations. This may help you get deals across the line and avoid extra costs such as lender’s mortgage insurance (LMI). Looking for a valuation? Hit the button below to arrange a conversation with one of my specialists to find a deal that's best for your situation. Get a valuation today We partner with over 50 lenders so you can find the perfect solution Follow Facebook Linkedin Do you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Why bank valuations are so important for buyers and owners
Property price growth predicted across Australia
Share on facebook Share on twitter Share on linkedin Confidence has returned to the property market in a big way, according to new forecasts from Domain. Domain has forecast house and unit prices to increase in both 2020 and 2021. These forecasts cover Australia as a whole and also the seven biggest capital cities (with Darwin being excluded). The bullish forecast shows that the property market has really strengthened since this time last year, when prices were falling in many places, especially Sydney, Melbourne and Perth. For home owners who had been reluctant to list their property in 2019 – now might be a great time to finally put your home up for sale. For buyers who had been thinking about entering the market – you might want to move fast so you can get ahead of any future price rises. Whether you want to buy an owner-occupied or investment property, it’s important you get a mortgage pre-approval before you start making offers, so you know how much you can spend. Needing a great deal? Hit the button below to arrange a conversation with our 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 solution Follow Facebook Linkedin Do you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Property price growth predicted across Australia
Government offers help to bushfire-affected businesses
Share on facebook Share on twitter Share on linkedin Small businesses that have suffered damage in the bushfires may be eligible for four types of help from the federal government. First, as part of the assistance package, eligible small businesses may be able to access up to $50,000 in tax-free grants. Second, businesses that have suffered “significant asset loss or a significant loss of revenue” may be eligible for loans of up to $500,000: Maximum term of 10 years No interest for the first two years Subsequent interest rate set at half the 10-year government bond rate (currently about 0.60%) Third, the government will establish the Small Business Bushfire Financial Support Line: Staff will explain what financial support is available to small businesses Trained financial counselors will be available Fourth, the Australian Taxation Office will help eligible businesses: BAS deadline has been extended to 28 May 2020 Pay-as-you-go instalments can be changed to $0 for the December 2019 quarter Refunds can be claimed for any instalments paid in the September 2019 quarter If you would like to discuss how these may apply to you, please do not hesitate to get in touch. Want to learn about bushfire support? Hit the button below to arrange a conversation with one of my specialists to find help where you most need it. Get business help now We partner with over 50 lenders so you can find the perfect solution Follow Facebook Linkedin Do you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Government offers help to bushfire-affected businesses
5 ways to guard against identity theft
Share on facebook Share on twitter Share on linkedin Having your identity stolen can be an expensive and traumatic experience. Sadly, it’s impossible to completely eliminate the risk of identity theft. But you can minimise it by following these five steps from Equifax: Put a security freeze on your credit file – this stops fraudsters taking out loans in your name (because you’d need to unfreeze the file before loans could be issued). Check your credit report – you’re entitled to a free copy of your credit report each year. Get one, and then check for suspicious activity. Check your bank statements – again, look for suspicious activity. Guard against mail theft – lock your mailbox so fraudsters can’t steal sensitive documents. Be vigilant when online – don’t share or reuse passwords. Don’t respond to ‘phishing’ emails. Looking to purchase a 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 solution Follow Facebook Linkedin Do you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about 5 ways to guard against identity theft
First home buyers need to move fast
Share on facebook Share on twitter Share on linkedin Want to participate in the federal government’s new first home buyer scheme? Then you better hurry. The First Home Loan Deposit Scheme, which started on 1 January, is capped at 10,000 places per financial year. The first allocation of places have already been claimed; but 7,000 places will become available on 1 February.Here’s how it works:1. The government will guarantee your loan if you have a deposit of 5-19%2. That means you won’t have to pay LMI (lender’s mortgage insurance)Eligibility rules apply:You must be a first home buyerYou must earn under $125,000 for singles and $200,000 for couplesAlso, you must buy a property that costs less than the price threshold listed in the chart above.Chat with us ASAP to take partHit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation. Take part 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 away in the comments below … [Read more...] about First home buyers need to move fast
Property enjoyed strong recovery in late 2019
Share on facebook Share on twitter Share on linkedin Property prices headed south in the first half of 2019, but bounced back big-time in the second half of the year. The national median property price fell 6.9% in the 12 months prior to 30 June 2019, according to CoreLogic.However, it rose 2.3% in 2019, thanks in large part to interest rate cuts in June, July and October.Australia’s two biggest cities were mainly responsible for the big turnaround in the second half of 2019.Sydney’s median price fell 9.9% in the year to 30 June, but rose 5.3% in the year to 31 December. Meanwhile, Melbourne fell 9.2% and rose 5.3% in the same period.The Hobart and Canberra property markets are currently at record levels in terms of prices. However, the other six capitals are below their peaks:Brisbane = 0.1% lowerAdelaide = 0.2% lowerMelbourne = 2.3% lowerSydney = 6.4% lowerPerth = 21.4% lowerDarwin = 31.8% lower2020 is a great year to buyHit 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 Property enjoyed strong recovery in late 2019