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The federal government has rolled out a new policy to address what it calls “one of our nation’s biggest economic challenges” – housing affordability.The National Housing Accord, which was unveiled in the recent Budget, aims to improve affordability by building one million new well-located homes over five years from 2024.What makes the accord unique is that, for the first time, it aligns the efforts of governments, institutional investors and the construction sector.The role of the construction sector will be to build homes that are more energy-efficient and to train more apprentices.Institutional investors, like superannuation funds, will be expected to fund development projects "for their members’ interests and for the national interest". As for governments:The federal government will provide financing options to facilitate institutional investment in social and affordable housingStates and territories will expedite zoning, planning and land release for social and affordable housingCouncils will deliver planning reforms and free up land for new buildsWhether you want to build a new home or buy an existing home, it's important you get your finances in order so you maximise your chances of qualifying for a loan.Three ways to make yourself more creditworthy are to:Pay all your bills on time;Reduce your expenses; andIncrease your income.Contact me if you need a pre-approval. 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 to us 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 New housing accord to deliver 1m new homes

As any property investor could tell you, rents have grown strongly over the past year.But when you drill down into the data, as realestate.com.au did, you discover that some types of rental property have been more in-demand with tenants than others.Between the September quarters of 2021 and 2022, demand was higher for houses (which experienced an 11.1% annual increase in rents) than units (7.1%).Drilling down further, by bedroom size, it turns out that houses with more bedrooms were more popular than those with less:2 bedrooms 7.7% annual growth3 bedrooms 9.3%4 bedrooms 12.0%5 and more bedrooms 11.4% For units, the results were different:1 bedroom 11.1% annual growth2 bedrooms 8.4%3 and more bedrooms 10.0%Whether you want to buy an investment property to take advantage of these rising rents or buy your first home to escape them – I can help.The most important part of buying a property is securing finance. I can compare home loans on your behalf, recommend a suitable lender, structure your loan correctly and manage the application on your behalf.Reach out for a home loan.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 to us 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 Rents rising fastest for large houses and small units

One of the world’s largest real estate firms has given five very good reasons why “Australian real estate represents a compelling investment”.CBRE said Australian real estate has provided an average return of 9.5% per annum over the past decade – significantly higher than the average home loan interest rate during that period.Rental vacancy rates are below 1% in some cities. When supply is low, demand is high, which is translating into "robust rent growth".Australia's population is forecast to grow 14% between in 2021-2030, which would be the "highest amongst leading economies". More people would mean more demand for real estate.Australia has a "strong" and "resilient" economy, which makes it a good place to invest.Local real estate is relatively easy to sell if you decide you want to cash out. CBRE said Australia ranks sixth in the world on the dollar value of property transactions.I can help you secure finance to buy a property, whether it’s to live in or for investment purposes.Get in touch if you need a loan.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 to us 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 CBRE hails Australia’s strong real estate market

The way Australians make and receive payments is continuing to evolve, according to the Payments System Board that sits within the Reserve Bank. Over the past year, there has been growth in electronic payments, new payment types (e.g. buy now pay later) and the New Payments Platform, according to the board’s annual report. At the same time, there has been an ongoing decline in cash payments, a trend that has been occurring “for many years”. The report also said that the Payments System Board would continue its research on central bank digital currencies – a digital form of money that might be issued by the Reserve Bank and used by households and businesses. "Australians are readily embracing new payment trends, particularly those offering value propositions for greater speed and convenience," according to the report. "The bank has an important role in understanding these new technologies and innovations, as well as any implications for the competition, efficiency and stability of the payments system."Want to buy an investment property? Let's talk. 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 to us 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 Alternative payment methods gaining currency

Home loan activity has fallen since earlier in the year, but demand among first-home buyers has held up better than that of other buyer groups.Between April, when national property prices peaked, and August, the most recent month for which we have data, total home loan commitments fell 13.9%, according to the Australian Bureau of Statistics.However, the decline varied between different buyer groups:Investors down 20.1%Subsequent home buyers (owner-occupiers) down 10.8%First-home buyers (owner-occupiers) down 9.9%CoreLogic's head of residential research, Eliza Owen, who analysed downturns since 2004, found first home buyer demand for finance during downturns has traditionally been resilient, with smaller falls in demand compared to the other two groups, and sometimes even increases.Ms Owen said there were two reasons for this:Governments introduced first-home buyer incentives during some of these downturnsPrice falls made it easier for first-home buyers to save a deposit and enter the marketWant to compare interest rates? Let's talk.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 to us 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 How different buyer groups are responding to the changing market

The increase in interest rates over the past six months has made it harder for Australians to qualify for a home loan, and made it more important they get help from a mortgage broker.Every rate increase of 0.50 percentage points reduces an average borrower’s maximum loan size by about 5%, according to the Reserve Bank’s head of domestic markets, Jonathan Kearns.Since May, the Reserve Bank has increased the cash rate by 2.50 percentage points – which means the average person’s borrowing capacity has fallen by about 25%.The key words here are ‘average’ and ‘about’ – because borrowing capacity varies not just from person to person but lender to lender. Two banks can offer the same borrower very different maximum loan amounts; sometimes, they might be more than $100,000 apart.With borrowing conditions getting harder, it’s vital you seek guidance from an expert broker.I work with a large panel of lenders, so I know which lenders would be more likely to offer finance to someone with your scenario. I can then present your application in such a way as to maximise your chances of approval.See how much you can borrow nowSee how much you can borrow now. Let's talk.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 to us 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 Why your borrowing capacity is probably lower than six months ago

New analysis has revealed two big reasons why rents, which are already rising steeply, are set to continue increasing.First, the number of properties listed for rent is much lower than pre-pandemic, in both capital cities and regional areas, according to PropTrack economist Angus Moore. So supply has fallen.Second, Australian Bureau of Statistics data show a significant increase in migrant and foreign student numbers. That means demand is rising."Extra demand from returning migration amid tight housing availability will contribute to the ongoing rapid advertised rent price growth we are seeing," he said. "We’re already seeing signs consistent with that dynamic. Rents are growing especially quickly in areas that recent migrants typically move to – these are mostly inner-city areas, often near major universities."Mr Moore said "rents are likely to continue growing briskly" in the foreseeable future."Vacancy rates are low across much of the country and, with population growth returning, rental demand shows little sign of tempering."Visit us to start a conversation with one of the leading mortgage broker in Sydney, Freshwater Financial Services.Need an investment loan? Let's talk. 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 to us 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 Rental market conditions strongly favour investors

Even though rates are rising, you can still be able to cope with your payment through the help of mortgage brokers in Sydney.Also, refinancing on northern beaches is one of the ways to reduce your payment. However, you should think carefully about the following before you proceed with a mortgage refinance in Northern beaches:Should I refinance my mortgage or is refinancing worth it?Your monthly mortgage payment or the total interest paid throughout your home loan could be reduced if you refinance your mortgage, which can be a wise financial decision.When evaluating if refinancing in Northern beaches is good for you, there may be a variety of options to take into account. Before deciding to refinance, you should carefully analyze mortgage rate trends, the value or worth of your house, your credit scores, and even how soon you want to move.How to know if refinancing your mortgage is good for youRefinancing is generally a wise choice if it would enable you to save money, increase your equity, and speed up the repayment of your mortgage.The optimal scenario is to take this action if you can reduce your interest rate by 0.50 to 0.75 percentage points and intend to live in your property long enough to repay the closing costs.Here are some situations to help you determine when refinancing a mortgage is right for youThe cost of mortgages has decreased.The rate of mortgages for homeowners is subject to change because of several factors such as changes in the market, inflation, the state of the economy, and external factors.If mortgage interest rates decrease, you might be able to save money by arranging a loan with a lower interest rate than the one you currently have.Your credit score has gotten betterYour mortgage rate is significantly influenced by your credit. Generally speaking, you'll get a lower interest rate the better your credit score is.You desire a loan term reduction.You could wish to refinance your mortgage to a shorter loan term if you're eager to wipe off debt.If you can get a cheaper interest rate and shorten your term, you could increase your savings. You will pay less interest overall if the loan period is shorter.However, your monthly payment will likely increase in exchange, so make sure it is within your budget. Don't take the chance of going into default on your debt. A mortgage broker can help you with this.Your home has gained more value.Refinancing may be advantageous if the value of your house has increased, particularly if you need to pay off other high-interest debt or have other financial objectives.When is refinancing a bad idea?It is also conceivable that now might not be the ideal moment for a mortgage refinance. Here are four scenarios in which refinancing your house might not be a good idea.You'll be moving in a short timeHave you already set your sights on a new residence? If you want to move soon, it might not be a good idea to refinance because you won't have much time to recuperate the costs.You already have a … [Read more...] about How To Know If Refinancing A Mortgage Is Right For You