Aaron Foh in Nunawading, Victoria, Australia | Mortgage brokers

Aaron Foh

Locality: Nunawading, Victoria, Australia

Phone: +61 433 836 450

Address: 23 Ceylon street 3131 Nunawading, VIC, Australia

Website: http://oxygen.com.au/broker/aaron-foh

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25.01.2022 According to a ME Bank article, the Australian Bureau of Statistics indicate around 85,000 mums and 33,000 dads take parental leave each year. Certain lenders ie ME Bank will use 100% of this income from parental leave to service home loans. We also have access to lenders that allows mothers (currently on maternity leave) to include their income when they return to work. Adding a secondary income will definitely increase your borrowing ability.

21.01.2022 It has been a real learning experience building on limited backyard space. So many factors come into play, from dealing with front unit tenants, going through council approval to choosing building materials I previously had no idea about ie type of bricks, colour schemes It gives me great satisfaction to know a little more and to create something from nothing. Going through this process allows me better understand clients building their own property. It’s not always a straight forward journey, but it is certainly rewarding experience and outcome.

21.01.2022 Mortgage Brokers provided a value added service and enhance competition in the lending market. We embrace/adapt a higher level of customer care and compliance as a result of the Royal Banking Commission. However, scrapping broker commission will reduce lending competition and options, which is not in the consumer’s best interest. For more information on keeping competition alive and voicing your support, refer to the link below. https://www.keepcompetitionalive.com.au/

19.01.2022 Budget Highlights on Housing source ING Direct Breaks for first homes buyers From 1 July 2017, individuals can make pre-tax contributions (salary sacrifice arrangement) of up to $15,000 per year and $30,000 in total, to their superannuation account to purchase a first home. Contributions will be taxed at concessional rates. ... Negative Gearing Negative gearing remains however some rules have been tightened around what can be claimed, specifically travel expenses and depreciation deductions. For e.g. investors will no longer be able to claim tax deductions for travel expenses "related to inspecting, maintaining or collecting rent for a residential rental property" from 1 July 2017. There goes that tax deductible trip to Surfers Paradise Ghost house tax will be imposed on foreign investors who leave properties vacant There will be an annual charge to foreign owners if the property is not occupied or available to rent for at least six months in each year. The charge provides a financial incentive for the foreign owner to make their property available on the rental market if they do not intend to reside there. This will be administered by the Australian Taxation Office. Impact for Interest Rates, Exchange Rates and Growth The government forecasts suggest that the economy will expand by around 3% in the year to June 2018 On the back of the infrastructure spending boom, unemployment to remain below 6% Inflation will progressively increase to 2.25% in 2018 Wages growth will progressively increase The government expects commodity prices to remain at around current levels The Australian dollar could be expected drift slightly lower. Please note the above are proposals as part of the Federal budget and are subject to the passing of legislation.

18.01.2022 The latest rate reductions announced. Stay tuned for further updates.

17.01.2022 How will you be affected by an out of cycle mortgage rate increase? We have experienced a period of inactivity form the Reserve Bank of Australia (RBA), the cash rate (1.5%) not moving since August 2016. As you may have already heard, a handful of lenders (per below table) have recently increased their variable rates. This is due to increased funding cost for e.g. elevated competition for term deposits, higher interbank lending rates (cost of borrowing between banks). We b...elieve there is potential for other lenders to follow suit. Given we have passed the bottom of the rate cycle, I have been encouraging home owners to consider fixing their rates for the longer term ie 5 year fix owner occupied P&I from 3.98%. With one particular client, I have completed an interest rate modelling/projection to show how much he could save ‘if’ interest rates were to increase to 4.5, 5 or 5.5% over the next 5 years. The results were compelling enough for him fix longer term. Conversely, a variable loan may continue to meet your needs depending on your personal and financial goals. I would encourage that we review your home loan to ensure it remains in line with your finance goals and how you can adapt to the changing interest rate environment. I look forward in hearing from you.

16.01.2022 New underquoting rules can be confusing. This video is simple and easy to understand. https://www.domain.com.au//barry-plant-mount-waverley-acc/

16.01.2022 Your mortgage broker behind your dreams and your home loan

13.01.2022 Young Australians will have an average of 18 jobs by the time they retire, with an average tenure of only 3 years and 4 months - ME Bank If you are looking to purchase a property but recently changed employment consider this. Some lenders have a requirement to pass probation or minimum time at current job while other lender don't. Curious on how this affects you? ... Contact the Oxygen team for a customised solution. See more

12.01.2022 Refinancing may seem daunting. In reality with proper guidance, we can help you achieve a smoother process. With recent changes to variable rates, now is a great time to review your home loan. Lets chat!

12.01.2022 Significant reduction in FIRB approval will have an impact on housing prices in areas previously supported by foreign buyers (Source: https://www.facebook.com/PropertyDataAU/)

08.01.2022 Loans for Renovations are at a 7 year high (source ABS, Commsec). According to ME Bank, cosmetic kitchen and bathrooms averaged $40,000 while larger renovations averaged $400,000. How much do you normally spend on your renovations? ... There is a difference between financing for cosmetic vs. structural renovations. For further enquiries, do not hesitate to contact me.

08.01.2022 Finding a house close to the city centre for under $500,000 is becoming increasingly difficult. In this week’s Pulse we look at the five suburbs in each capital city that are closest to the city centre and have a median house value under $500,000. Obviously the options and distance from the city centre vary greatly across each of the individual capital cities.(https://www.corelogic.com.au//buying-under-500000-how-clos)

06.01.2022 ALP have announced that if elected, they will limit negative gearing to new properties. Capital Gains Tax discount will reduce from 50% to 25% from 1 Jan 2020 (proposed date) Investor with existing properties already using negative gearing won’t be affected. ... Implications If elected, this may see a spike in investor activity 2nd half year for established properties. This allows investors to take advantage of tax benefits under the ‘old’ system. This demand will reverse favouring new properties post 1 Jan 2020. https://www.theadviser.com.au//38961-labor-announcement-to

04.01.2022 Jan/Feb Review It’s the start of 2019 and most of us are still switching out of holiday mode. Lets face it, looking into our home loans would be the last thing on our minds this time of the year. Perhaps it’s a tactical move that certain lenders have announced January rate increases.... Bank of Queensland led the new year Dominos effect by raising rates 0.12%-0.25%, Ubank 0.2%, Virgin 0.15% and more recently Nab by 0.12% - 0.16%. Whilst the trend is rising wholesale funding cost being passed onto clients, Shane Oliver (AMP Capital Chief Economist) believes deteriorating economic conditions could force RBA to slash the cash rate by 0.5%-1%. I look forward to the next RBA board meeting on 5 March for further feedback. On the positive, the Australian Prudential Regulation Authrority (ARPA) have scrapped the 30% limit (on the proportion of new home loans) on interest only home loans given its effectiveness in curbing investment lending and property prices. Lenders should have more freedom and discretion over how they package their interest only offerings, hopefully at a reduced rate. With constant changes occurring in the finance industry, I recommend that you review your existing property and loan portfolio to ensure it remains relevant to your circumstances. I’m sure for some, the new year’s resolution would include trimming some excess Christmas weight Although I’m not qualified in the P/T space, I can definitely assist you trim down any excessive borrowing cost.

04.01.2022 Housing affordability improves March quarter.

02.01.2022 What are your financial goals for 2018? According to ME Bank's survey (source ME Bank) -26% will be paying off their mortgage. -21% will be paying off debts as fast as they can... -19% will be building wealth for retirement. If you're ready to discuss about your finance goals, we're ready to map out a plan to get you there quicker. We have also partnered with MP Wealth to provide holistic financial planning advice.

02.01.2022 ANZ and Macquarie have announced massive reductions on their fix rates (up to 0.6%), aligning themselves with several lenders over recent months. According to AMP Chief Economist Shane Oliver, there will be a high probability of RBA rate cut in June due to continued weakness in the housing market, flat inflation and slow economic growth. Combined with the easing of wholesale funding cost, the lenders are acting proactively reducing rates to attract new business. ... Other lenders with recent rate reductions include Bluebay Home Loans, Teachers Mutual Bank, ING, NAB, Virgin Money, Heritage Bank, Westpac, Commonwealth Bank, Bendigo Bank, Macquarie Bank, ME, HomeStart Finance and Adelaide Bank.

01.01.2022 Special Fix rate campaigns for Bank of Melbourne and Westpac have ended, fix rates for both lenders increased as of 1/8/17. Will the other lenders follow? Now is a great time to consider locking in your rates for the medium term. Here's an article about our PM's, RBA and Corelogic's research team view on interest rates going forward. ... http://www.realestate.com.au//how-to-prepare-yourself-for/