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10 tips for a first home buyers in Sydney 10 tips for a first home buyers in Sydney Beaches, astonishing harbour, all-year-round sunshine; who doesn't strive for all these quirks! And, you can enjoy all the perks, if you get to live in one of the most beautiful cities, Sydney!The city doesn't only offer a scenic view but also a unique lifestyle, with beautiful beaches and affordable abode within 10km of the Sydney Central Business District.Everyone dream of their own house where they can dwell in peace and moving from a rented house to owning one is one of the greatest leaps anyone makes in their lives. Earlier it had been an oft-touted label that the destination of owning a home has become out of reach for many first home buyers. But the good news is - although the coronavirus has created havoc in everyone's life whilst, somewhere it has been benefiting the one aspiring for their first home.Yet, there are distinct issues to be aware of while buying real estate in Sydney. And in this blog, we have compiled a list of which first home buyers should consider before closing the deal. Goal setting Buying a home is not one day-dream. From planning to shop for property to rummaging your wallet, it all takes a lot of time - actually planning begins long before you inspect your first property, and of course! We appreciate that in the fulness of time it will sure help in setting your goals and in proper execution. Ready-build house Before you jump to a conclusion, weigh the benefit of buying a new 'ready- build house' and 'house and land package'.A ready build house privileges in saving stamp duty, low maintenance costs, faster process.Whereas, buying a house and land package profit in various ways like- you get to design your house, power to customise finishes, floor plans, and facades, and stamp duty saving. Stamp Duty Stamp duty is an important factor to consider while calculating your budget. It's a tax payable by the buyer while purchasing a property which needs to be paid within the period of three months from the date of an exchange of contracts. The size of the house directly affects the stamp duty, precisely the huge the cost of the property, the more your stamp duty will be.Although there are benefits like 'transfer exemption' and 'concessions' which are available for the help of the first homeowner that leverages them for a concession or even a complete exemption, depending upon the type of property they buy - it can be applied directly through the NSW government. Research your finance option The home loan market is complex and competitive, which is why it's always a smart idea to compare loans! The comparison helps in selecting the right rate and features according to your needs.From interest-only to fixed-rate to variable and investment, there are numbers of options and types of mortgages to pick one that suits your situation. Get help From house-hunting to shifting, the whole … [Read more...] about 10 Tips for a First Home Buyer in Sydney,Australia

Australians took out a record amount of mortgages in January, according to the most recent data from the Australian Bureau of Statistics.Home loan commitments hit $28.8 billion – a staggering 44.3% increase on the year before:Owner-occupier loans = $22.1 billion (up 52.3%)Investment loans = $6.6 billion (up 22.7%)Demand is being driven by record-low interest rates, rising property prices and government incentives. 3 home loan tips for 2021 Here are three things to do if you want to give yourself the best chance of locking in a low rate and buying the home of your dreams:Speak to a broker – lenders are competing hard for business and are offering special deals that many consumers don’t know aboutGet your finance organised early – some lenders are taking longer to process loans and you may need to wait longer than you’re used toImpress lenders with a clean credit profile – pay bills on time, reduce your credit card limit and minimise the number of credit applications you makeNeed 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 Home loans demand soars thanks to record-low interest rates

Remember 2003? Well, that was the last time property prices were rising this fast.Across Australia, the median property price jumped 2.1% in February, according to CoreLogic. That was the largest month-on-month change since 2003.Meanwhile, prices rose in every capital city and every rest-of-state region – something that hadn’t happened since 2010. In a rising market, it’s vital to get a home loan pre-approval in place as soon as possible if you’re thinking of buying. That way:You know what your limits areYou have peace of mind you can make a competitive offer on a great homeAgents or vendors often favor buyers who have their finance sorted earlyHelp me get pre-approvedHit 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 prices rising fast throughout Australia

The vast majority of borrowers are now paying their mortgages, with only 2.4% of home loans on pause at the end of December, according to new data. Banks allowed Australians to pause their mortgages repayments in March 2020, at the start of the Covid crisis. The share of deferrals peaked in May and has been falling since:April = 9%May = 11%June = 10%July = 9%August = 9%September = 7%October = 4%November = 3%Contact me if you’re struggling with your mortgage. Most lenders have hardship programs, and the sooner we speak to them about your issue, the more favourable the result is likely to be.Needing a great deal? 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 Mortgage deferrals keep falling

It’s a great time to be a property investor, with vacancy rates falling throughout Australia.Vacancy rates fell in six capital cities between December and January, and held steady in the other two, according to new data from SQM Research. Sydney and Melbourne are currently tenants’ markets, even though vacancy rates are falling. However, the balance of power favours landlords in the other capitals.If you’re a property investor and there’s a limited supply of rental accommodation:it’s easier for you to find tenantsit’s easier for you to raise rentsAnother reason it’s such a great time to be a property investor is that with interest rates at record-low levels, there’s a good chance your property’s income (rent) will exceed the expenses (mortgage payments, property management fees, maintenance and insurance).Call us if you want to buy an investmentHit 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 Balance of power tips further in landlords’ favour

Top 5 suburbs in Sydney for first home buyers Top 5 suburbs in Sydney for first home buyers Up until 2020 it was all about big cities, rush and sparkling city lights, 2020 has turned the tables on our views and preferences. A first home buyer's choice used to be to live in the heart of the city, but now some are choosing to move into the suburbs.   The pandemic has not only adversely affected our lives but also the way we live. People are choosing to get away from the chaos, a report shows a remarkable growth of properties being bought and sold in regional areas within an hour or two from the CBD.  The mass relocation of the people has increased the demand in the market which has led to a 3.1% increase in prices although there was a 2.1% price drop between April and September. Now with the consecutive positive growth, the market seems to be rebounding sharply this year.  Every buyer has unique circumstances, goals and aspirations. Keeping all that on the table we have made a list of top 5 hotspots for our first home buyers to invest in. Bexley Bexley is a suburb in South Eastern Sydney, located 14 kilometers south of the Sydney CBD in the local area of the Bayside Council.  The suburb has seen rapid growth in transportation, population, commercial, and industrial areas.  The suburb attracts mass because of its shopping centers.  Bexley is a great choice for first home buyers are it represents great value. Maroubra When we think of waterfronts, we often think of beach suburbs, because who doesn't like beaches! Maroubra, located in the Eastern area of Sydney, is 10km south-east of the CBD in the local government area of Randwick CouncilMaroubra has secured a place in the top 5 list not only because of its beaches, but also its ease of transportation, great health-care and effective schools makes it a great suburb for first home buyers. Windsor This historic town in New South Wales is 46 kilometers north-west from Sydney. The town is regarded as an outer suburb. Since Windsor has both urban and rural lifestyles, job growth has created an increase in the need for people.  These outskirts are best to invest if you are seeking an affordable big comfortable house. Box Hill Along with seas, cities, outskirts, Hills has also made it to the list. Box Hill is a suburb of New South Wales, located 42 kilometers north-west of the Sydney CBD. If you want to enjoy city life living away from the city, this is the place you should go to. This city has the best transportation and healthcare services compared to almost anywhere else. Newcastle Whether you want a house with water or a mountain view, you get all the options in this suburb. Newcastle one of the best suburbs in the north-eastern portion of New South Wales, is situated near the river Tyne. The iconic suburb is famous for its heritage and popular nightlife.  The regional city is about 2 hour’s drive from Sydney. In the last few years, the … [Read more...] about Top 5 suburbs in Sydney for first home buyers

How to find a trusted mortgage broker in Sydney, Australia How to find a trusted mortgage broker in Sydney, Australia It's normal to be cautious when looking for a mortgage broker.  After all, buying a house is a huge investment, and perhaps the biggest decision you'll make in your life, hence it's important to be sure that you're making the best choice possible. Finding the right house is just the beginning of the process, and there are a lot of additional factors such as starting with finding the best suburb, finding a trusted mortgage broker, getting the best mortgage rates, stamp duty, paperwork and more. However, the daunting process can be a little easier with the assistance of a broker, but you must be sure they are trustworthy and experienced before selecting the broker.A mortgage broker is an intermediate between the borrower and lender. The broker helps the borrower to get hitched with the best possible interest rate. But the question is, how do you find if the broker is trustworthy. It can be a somewhat daunting experience finding the best mortgage broker. We're dedicating this blog to help you in your quest of finding the best mortgage broker in Sydney that appeases your needs. Check educational qualifications and work experience The very first thing you should inquire about is the educational qualifications, and what experience the broker holds. Most of the professional brokers will have a diploma, while others have other credentials such as a degree in finance, economics or accounting. It's better to go for the brokers who have more credentials than needed by the government and own an Australian Credit License or/and are qualified to act as an authorised credit representative. Check accreditation It is better to invest time in choosing your broker than wishing that you hadn’t chosen them later on. The wrong one can be costly and you will pan out with a mortgage that doesn't truly fit your financial situation. Therefore, before sealing your deal with a broker, make sure they have licenses which include - Accredited under the National Consumer Protection Act, Certificate IV and a Diploma in Financial Services, has a membership of Mortgage & Finance Association of Australia( MFAA) or Finance Broker Association of Australia (FBAA), and a member of Credit Ombudsman Service Ltd (COSL). Check their lender panel A lending panel can provide you with a brief description of their work and experience. Brokers are constrained by a list of lenders they can access, this list has been named as a lending panel. Check the list if they have connections with a range of reputable institutions and how many lenders they use on their panel. Don't be afraid of asking questions, be sure the rate they are offering matches you need. Ask about why they have shortlisted the specific lender. Ask him/her for the top 10 lenders they send the loan to and what percentage of loan they deliver to their door. Ask your … [Read more...] about How to find a trusted mortgage broker in Sydney, Australia

Beware: there has been a spike in automated scam calls impersonating the Australian Taxation Office. Scammers are calling people to claim the ATO has suspended their tax file number due to suspected fraudulent activity. Targets are then asked to transfer their money to ‘the ATO’ (i.e. the scammers) so the tax office can protect their money while the matter is resolved. The ATO said that while it does call taxpayers, it would never:Send unsolicited pre-recorded phone messages Use aggressive behaviour or threaten you with arrest Suspend your TFN Request direct transfers of money to a personal bank account Project the ATO’s number onto your caller IDThe ATO said that if you receive a call, email or SMS and aren’t sure who’s contacting you, “it’s OK to hang up or not respond”. Instead, phone the ATO’s dedicated scam line 1800 008 540 to check if the contact was legitimate.Need to identify a scam?Visit the ATO's scam page to learn more about these scams and how you can stay safe. Visit the ATO's scam page Follow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about ATO warns Australians about fake calls demanding money