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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

You have a lot of choices to make when searching for the first home buyer. You must decide on a budget, the type of property you desire, and the neighbourhood that would work best for you. You should also think about whether or not you want to work with a first home buyer Sydney specialist. However, a real estate agent offers first-home buyers a service that makes them priceless.The post will go through the advantages of working with a first home buyers specialist so you can determine whether to do so for your upcoming house purchase.Benefits of First Home Buyers AgentAs you can see, the buying agent is responsible for several tasks, which help the first home buyers in Sydney. Here are a few other advantages that an agent offers.Saves Your TimeTime is saved because they undertake the research and the actual searching to find the greatest house for you. Especially if you're buying from out of state or abroad, the several hours you'll save by working with a buyer's agent might lower your stress levels and boost your chances of finding the house you want. No more squandering your Saturday mornings on pointless internet searches.They are able to access more kinds of propertiesBy using a buyer's specialist, you can gain access to a wider selection of properties, some of which might not even be on the market. With access to discounts that aren't accessible to the general public, this puts you in the box seat.Money SavingsA first home buyer agent will ensure that you find the greatest property for your money by helping you find it. To obtain you the best deal, he will bargain with vendors. Any fees will be more than offset by these cost-cutting measures.They have good negotiating skillsBuyer agents are skilled negotiators that know how to secure the best bargain for their clients. They can get you the finest deals because they are quite knowledgeable about the area. They can help you navigate what might be a daunting transaction and make sure you receive the best bargain.They assist you in selecting the ideal propertyA buyer's agent is trained to see any problems that you might have overlooked, even if a house appears to be beautiful on the outside. Additionally, your buyer's agent will guarantee that the property you ultimately purchase is in line with your unique plans for wealth growth.They assist you in avoiding typical errorsFrom property research to contract signing, a buyer's agent can help you avoid typical blunders since they can spot possible issues and deal with them as soon as they appear.InformationAgents are knowledgeable about the market, the best areas for home purchases, potential upgrades to the property, and more. Your chances of making a wise investment rise when you work with an agent.You can speak with our mortgage brokers, we'll provide you with all the advice you need to invest your money profitably.Contact me for home loan advice.Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's … [Read more...] about The Benefits of Working with a First Home Buyer Specialist in Sydney

When it comes to borrowing money from a lender or lending organisation, a borrower will only be able to borrow a certain amount of money. This amount is referred to as a person's borrowing capacity. When it comes to borrowing capacity, there is no set amount because it varies depending on the people and their situations.If you're thinking about taking out a loan and hiring the best mortgage broker in Sydney, it's a good idea to know how much money you can borrow. You will be more prepared for your loan application as a result of this. It will also assist you in managing your expectations for the amount of money you can borrow.The Things You Should Know About Your Borrowing Capacity1. Amounts offered by different lenders may differ:Keep in mind that not all lenders will provide you with the same loan amount. The amounts may vary slightly depending on your situation and the precise type of information requested. Finance professionals can advise you on which lending institutions will be able to provide you with the funds you require.2. Your Income Is The Most Crucial Component: Your income amount is one of the most important pieces of information you will provide loan providers. This will assist them in determining your ability to pay and calculating your borrowing capacity.3. Your Investments And Savings Boost Your Borrowing Capacity: Your savings and equity will assist you to increase your borrowing capacity when you apply for a loan. These will be assessed against any other debt you may have, and will considerably assist you in obtaining a larger loan amount.4. Your investment has a significant influence on your borrowing capacity:Different banks and lenders have different standards for evaluating and enabling you to use specific funds for your deposit. The higher your deposit, the more likely a mortgage broker will be able to negotiate a reduced interest rate or waive costs for you. Most banks will require a 5% 'Genuine Savings' deposit in most cases.5. Purchasing an investment property boosts your borrowing capacity:When a first-time buyer applies for a loan for investment purposes, their borrowing capability will likely increase. This is because, in addition to your regular income, lenders will consider the rental income you will produce. An example of a first-time house buyer making an investment in real estate.6. You can fix your credit problems:Have you ever had a credit check done on you? These are excellent resources for resolving credit concerns. They can tell you if you have any bad debts or money owed to you, as well as whether or not your credit rating is good. From there, you may figure out what needs to be paid and whether or not your record has any inaccuracies.7. Get Rid Of Other Debt Before Applying: If you have a significant quantity of debt, you should not anticipate being able to get a large amount of borrowable capacity. Waiting to reduce or eliminate your debt will help you demonstrate that you are a responsible borrower … [Read more...] about 10 things you need to understand about your borrowing capacity

Large numbers of borrowers will soon be coming to the end of their fixed-rate period, with Commonwealth Bank alone revealing that $44 billion of fixed loans will expire this year, according to Canstar.Some media reports have suggested that borrowers in that situation should be worried, because their new variable interest rate is likely to be higher than their current fixed rate. However, there are four reasons not to panic:When you took out your home loan, the lender wouldn’t have approved your application unless it believed you could still repay your loan if interest rates increasedWhile no one likes paying higher interest rates, they'll continue to be low by historical standards even if they rise by 2 percentage points over the next couple of yearsIf you budget for higher interest rates now, you'll be prepared when they do increaseWhen your fixed-rate period comes to an end, you can ask your broker to refinance you to another lender offering a comparable loan with a lower interest rateContact me for home loan adviceContact me for home loan advice.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 4 reasons to stay calm if your fixed mortgage is about to expire

Buyers are steadily shifting their attention from houses to units.In April, median prices rose 10.4% in annual terms for units and 18.6% for houses, according to CoreLogic – a difference of 8.2 percentage points. While that gap is large, it's not as large as it was in January, when prices rose 14.3% for units and 24.8% for houses – a difference of 10.5 percentage points.By the end of April, Australia's median house price had reached $819,000. For some buyers, that is just too high. By contrast, the median unit price, while still high, is just $620,000.As property prices continue to rise, it's likely more buyers will shift from houses to units, which would lead to a further narrowing in the price growth differential. It’s even possible that, at some point, unit price growth will overtake house price growth.Get in touch if you need 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. 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 Houses vs Units – Price growth gap continues to narrow

The Reserve Bank recently increased official interest rates by 0.25 percentage points and has signalled more rate rises are on the way. But don’t panic. Instead, fight back.How? By refinancing to a comparable home loan with a lower interest rate.I work with a large panel of lenders, many of which are offering special deals to people who refinance, so there's a good chance I can help you switch to a lower-rate loan. That will help offset any future rate rises. When you refinance, you'll have to go through the same qualification process you experienced when you took out your current home loan.So look for ways to reduce your expenses and increase your savings rate.Consider lowering your credit card limit, as a higher limit will reduce your borrowing capacity, even if you pay off your entire credit card debt each month.Maintain or even increase your credit score by paying all your bills on time, and, possibly, closing out any personal or car loans you might have.Want 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. 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 Why now is a good time to think about refinancing

A mortgage broker is a person who wears several hats during the financial planning process, to the point where the best of them become trusted advisors to families. The difficulty that might occasionally develop is that lines can become blurred, and clients will seek financial advice from a broker. In this article, I'd like to discuss what kind of advice a mortgage broker may and cannot provide. Please keep in mind that this is a blog and not a piece of advice. Because everyone's circumstances are unique, it's better to get expert assistance if you need particular counsel. Depending on what you require, who that may be may vary. As a mortgage broker goes about his or her various responsibilities for a customer, he or she becomes further entangled with your family's finances and situations. Clients will begin to feel at ease with the broker and will frequently inquire about investment or tax advice, as well as business formations and the like. While the finest mortgage brokers in Sydney will have a decent notion of what works well based on their experience with previous clients, they are not permitted to provide advice on the subject and should never do so. It is illegal and can lead to a conflict of interest. Mortgage brokers can help you structure your debt in a way that meets your current requirements. They can also provide guidance on the loan procedure and which products or lenders are most likely to be successful. One of the most valuable abilities that mortgage brokers bring to the table is the ability to advise on ways to save money and interest along the process. A mortgage broker cannot advise you on how to invest your money or manage your household income in order to achieve financial success. We are unable to provide advice on superannuation or insurance. A financial planner's knowledge would be required for all of this. A mortgage broker is unable to advise you on any tax-related issues or how to effectively arrange your business or personal structure for tax efficiency. You should hire a trained accountant for this. Financial advisors can assist with financial planning: Financial planners use a long-term approach. They assist with the selection of investment and insurance choices. Special emphasis is frequently paid to retirement advice and estate preparation. Aside from that, there's investment analysis. Retirement and life insurance are also taken into consideration. Other types of asset protection insurance are also available. A financial adviser helps people with their investments, taxes, and retirement planning. Additionally, college savings accounts and real estate are available. Insurance and mortgages are also included. Mortgage brokers handle home loans: A mortgage broker is a broker who acts as a middleman between the borrower and the lender. He or she is in charge of bringing mortgage borrowers and lenders together. He or she connects borrowers with lenders. He or she ensures that the lender is the ideal match. This is … [Read more...] about Can Mortgage Brokers Give Financial Advice?

The big four banks have forecast that the Reserve Bank will begin lifting official interest rates from June. If and when that happens, lenders will almost certainly increase their home loan rates.That would be annoying if you're about to start looking for a property and you're planning to get a fixed-rate loan, because it's possible fixed rates will rise between when you get your pre-approval and when you formally apply for your home loan.In that case, you'd have to accept the higher interest rate – unless you’d taken out a 'rate lock', which is when a bank promises to give you the lower initial interest rate, in return for a fee.Rate locks, like all insurance policies, are priced so that the provider (i.e. the bank) finishes ahead. So, for the average borrower, the cost of the rate lock is likely to be higher than the savings it provides. But a rate lock can still be valuable by providing peace of mind.I can model different interest rate scenarios for you, to help you decide if a rate lock is suitable for you.Contact me for expert loan advice. 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 A rate lock can protect you from forecast rate rises