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Australia recorded a national vacancy rate of just 1.0% in June, according to SQM Research, which means the rental market is strongly favouring property investors.Over the past 12 months, the vacancy rate has fallen from 1.7% to 1.0%. As a result, there is now only one vacancy for every 100 rental properties.Extraordinarily, the vacancy rate is even lower in six of the eight capital cities. When the vacancy rate is so low, it's easy for property investors to find quality tenants for their property, because demand is so high.In that kind of landlord's market, rents tend to rise, because tenants are willing to pay more money to ensure they have somewhere to live.If you’d like to buy an investment property, I can help you secure finance. While prices are softening in some markets, that can actually be a blessing in disguise, because it means you’ll face less buyer competition.See how much you can borrow now. 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 Property investors enjoying strong rental demand

Our economy naturally includes bankruptcy. As per the Australian Financial Security Authority, 12,450 Australians declared bankruptcy in 2019–20. (AFSA). This was really the lowest number of bankruptcies in 30 years, with fewer cases being reported across all states and territories, notwithstanding the epidemic.Without a doubt, filing for bankruptcy can alter your entire life. But that does not imply that you cannot rebuild your life by obtaining a mortgage. While it's true that some lenders won't even accept a house loan application from someone who has previously filed for bankruptcy, if you've been discharged, others may still be willing to provide you a loan. You must be aware of the actions you may take to boost your application if you want to increase your chances of obtaining a mortgage following a bankruptcy discharge. What is bankruptcy with a discharge?As the name implies, when you receive a bankruptcy discharge, you are released from the requirements, including having few assets and being prohibited from travelling abroad.From a financial perspective, you can now legitimately reapply for credit. Your credit history will still reflect that you were previously bankrupt, though. Because of this, some lenders could be hesitant to evaluate your application for a house loan, even if you've been discharged. Can a bankrupt who has been discharged have a mortgage?Even if you have filed for bankruptcy, you might still be able to secure financing to help you purchase a new house. While it's true that more well-known lenders like Australia's major banks and credit unions won't lend to people with bad credit histories, there are a number of Mortgage Brokers in Sydney who specialize in loans for people who have been declared bankrupt as well as other people with bad credit who will still be willing to extend credit to you.Using prudent and strict money management techniques throughout your bankruptcy may increase your chances of getting a home loan once you have been discharged. Your chances of getting a home loan with more reasonable terms could be increased if you can show lenders evidence of consistent savings, wise spending, and continuous income. Important steps to take while applying for a mortgage after bankruptcy:Wait at least two years before applying for a mortgage:The best course of action is to hold off for at least two years after being discharged from bankruptcy. In order to demonstrate to lenders that you are in a more stable situation, borrowers might use that waiting period to establish good credit by paying their payments on time and having solid employment.Find a specialized mortgage provider with a solid history and standing:While some bankers will be more cautious about lending to borrowers with less-than-perfect credit histories, there are experts with a particular emphasis on persons who declared bankruptcy and other comparable circumstances.Avoid the temptation to submit multiple loan applications:Keep in mind that every loan … [Read more...] about How to get approved for a mortgage after bankruptcy?

Attention property investors: the Australian Taxation Office has said it will be paying close attention to your tax returns.The ATO has made it clear investors need to include "all the income" they've received this financial year in their tax return, including:Short-term rental arrangements (e.g. Airbnb)Insurance payoutsRental bond money that was retainedThe ATO has also urged property investors to keep good records because all rental income and deductions need to be entered manually – even if investors use a registered tax agent (such as an accountant) to prepare their tax returns."If we do notice a discrepancy it may delay the processing of your refund as we may contact you or your registered tax agent to correct your return,” according to the ATO.“We can also ask for supporting documentation for any claim that you make after your notice of assessment issues."Want to get a loan? Let's chat. 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 ATO warns investors to declare all their income

The number of property listings has fallen, after only 246,000 homes around Australia were listed for sale in May, according to the most recent monthly data from SQM Research.The May result was 2.2% lower than the month before and 9.0% lower than the year before. SQM managing director Louis Christopher said the decline was unsurprising given that real estate activity often slows down during a federal election campaign."Going forward, I expect a surge in new listings for this current month, even while we have now reached the quieter winter months. SQM Research has recorded a surge in new auction listings, hence why we have this view."If Christopher is right, this “surge” will put downward pressure on prices, as an increase in the supply of for-sale properties generally leads to a decrease in buyer demand.Want to enter the market? 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. 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 Listings tipped to surge in winter after falling during election month

It is possible to obtain a mortgage in Australia even if you have bad credit, but the process and other considerations may be different. It will also take longer because you need to wait for the negative information to disappear while adding positive information to boost your credit score. If you're attempting to secure a mortgage with bad credit, here are a few more things you should be aware of.What is a home loan with bad credit? An Australian mortgage performance measure as a bad credit home loan is made available by non-conforming or specialized lenders. In essence, a bad credit house loan addresses circumstances in which borrowers have blemishes on their credit reports and is created to identify and assist those applications that fall outside of the parameters of lenders. Lenders would often consider one of two types of bad credit home loans in Australia. One type of default is one that has been fully paid, or paid defaults. The other category defaults that have not yet been fully paid, or unpaid defaults. An overdue account, such as a phone bill, credit card bill, personal loan bill, or utility payment, appears on your credit report as a default. A payment is considered past due if it has been missed for 60 days or if your lender has not been able to reach you. Because a default on your credit report indicates to lenders that you frequently can't pay your payments, the majority of large banks will reject you if you have one. How to get approved despite having bad credit: If you are a first home buyer in Sydney then developing your case that your credit and debit troubles are behind you will require contact with a specialist mortgage broker. These credit specialists can steer you on the proper route because they are aware of what banks and lenders are looking for. By avoiding additional negative listings, you'll put yourself in a better position to work with a  mortgage broker in Sydney like Freshwater Financial Services who specialize in bad credit home loans because they'll notice that you've tried to fix your financial problems in the past. You can maintain communication with lenders to prevent a clear-out listing, complete your mortgage payments on time, pay off any outstanding defaults, and pay down your debts in order to accumulate more favourable listings. The necessity of raising your credit score:  If you are having financial difficulties, there are steps you can do to raise your score, but it will take some time. You should increase the positive information on your credit report while letting the negative information expire.You can improve your credit score in a number of ways, including the following:Regularly check your credit report to make sure the data is accurate. By contacting the credit reporting body, which is free, you can have any inaccurate information on there corrected; Pay your bills and all other obligations on time. Making automated payments is a simple way to do it. Consider your options carefully … [Read more...] about How to get a mortgage with bad credit

From July 1, a total of 32 lenders will offer the federal government's flagship housing assistance program.Five new lenders have just signed up for the Home Guarantee Scheme (HGS) – Credit Union SA, Illawarra Credit Union, IMB Bank, Newcastle Permanent Building Society and Unity Bank.They join the 27 existing lenders, which includes Commonwealth Bank, NAB and an array of smaller lenders.To be eligible for the HGS (which is also known as the First Home Loan Deposit Scheme):Your household income must be less than $125,000 for individuals and $200,000 for couplesThe property you buy must be less than the price cap, which varies from $250,000 in regional South Australia to $950,000 in Sydney, depending on where you buy and the type of property you purchaseUnder the HGS, eligible first home buyers can purchase a property with just a 5% deposit and eligible single parents with just a 2% deposit. Participants don’t need to pay lender’s mortgage insurance, because their loan is guaranteed by the government.Get in touch if you need HGS help. 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 Government’s low-deposit housing scheme expands

The combined value of all the residential properties in Australia has passed the $10 trillion mark for the first time.Australia’s pool of homes was worth $10.2 trillion in the March quarter, according to the latest data from the Australian Bureau of Statistics. Remarkably, that represents a doubling in value in just seven years, from $5.1 trillion in June 2014.Australian property prices have enjoyed remarkable growth over the long-term, even though there have been regular occasions when prices have temporarily declined.That’s part of the reason so many Australians want to own their own home. It’s also why so many people use property investment as a way to build wealth for retirement.Are you thinking about entering the market? If so, I can give you advice about your borrowing capacity and the correct way to structure your loan. I can also compare lenders and interest rates on your behalf.See how much you can borrow now.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 Property values have doubled in seven years

The Australian Taxation Office has urged people to be vigilant about a new scam doing the rounds.The ATO has detected an increase in fake websites offering to provide tax file numbers (TFN) and Australian business numbers (ABN) for a fee – but, instead, using the websites to steal consumers' money and personal information.These fake services are often advertised on social media.It is free and easy to use government services to apply for a TFN and apply for an ABN.ATO assistant commissioner Tim Loh said scammers are constantly finding new ways to target the community.“We are concerned about a recent increase in the number of victims reporting scams around TFN and ABN applications," he said."We are also still seeing scammers impersonating the ATO, making threats, demanding the payment of fake tax debts or claiming a TFN has been ‘suspended’ due to fraud.”Need a home loan? Get in touch.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 ATO warns users about tax scam