Abacus Finance Canberra Office in Canberra, Australian Capital Territory | Loan service

Abacus Finance Canberra Office

Locality: Canberra, Australian Capital Territory

Phone: +61 1300 268 686

Address: Unit 6, Level 7, 161 London Circuit 2601 Canberra, ACT, Australia

Website: http://www.abacusfinance.com.au/

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25.01.2022 FREE EVENT: Learn How To Invest In Australian Property Are you looking to invest high growth + high yield property overseas? Is Hong Kong property too exp...ensive and poor value? Discover how to build your wealth through overseas property at our free seminar on the 28th and 29th of July. Register now https://bit.ly/2KWrYMJ At this event hosted by Abacus Finance & G Property Group, you will learn: How to buy Australian property with very good capital growth and high rental yield potential Why you should be investing in overseas markets How to avoid the mistakes most investors make Where you should be buying in for the best potential returns How to build your long term wealth through smart property purchases Come and learn from experienced, multi-award winning international property investors at this free event. Limited seats available, book now to secure your seat. Register now https://bit.ly/2KWrYMJ The Team @ Abacus Finance & G Property Group

24.01.2022 LVR is an abbreviation for the term Loan to Value ratio. It is the percentage of the loan amount compared to the value of that property. So, if a house is worth $600,000, and the mortgage is $420,000, then the LVR is 70%. Most Lender require a borrower to take out Lender’s Mortgage Insurance(LMI) if the LVR is 80% or more. For some lenders, the interest rates are different in regard to the amount of LVR. If you are looking for home loan with a higher LVR, just leave a message below, our mortgage expertises will contact you as soon as possible.

23.01.2022 The Australian Capital Territory First Home Owner Grant (ACT FHOG) is provided by ACT State Government to help first home buyers get their first home. From 1 January 2017, ACT cuts FHOG back to $7,000 from previous $10,000. This applies to first home buyers of new, substantially renovated, or off-the-plan properties valued less than $750,000. Eligible buyers must live in the property for at least 1 year within the first year of owning it and a deferred duty payment is allowed.... For more details, check out the link below or contact Abacus mortgage specialists. https://www.revenue.act.gov.au/home-/first-home-owner-grant #mortgage #mortgagebroker #homeloan #owneroccupied #investment #firsthomebuyer #property #FHOG #ACTFHOG #ACT

22.01.2022 Are you ready for comprehensive credit reporting (CCR)? Due to a relatively slow uptake of the system (initially recommended in 2014), the Government imposed deadlines for CCR. The big four banks are required to provide 50% of their credit data to credit bureaus by 30th September 2018 and 100% by 1st July 2019. The biggest change is that the last 2 years history on loans and credit cards will be on your clients credit file. Is your business ready to tackle these changes and h...ow do you think this will effect the PRIME lending space? https://www.equifax.com.au//How%20does%20comprehensive%20c

21.01.2022 Introductory (honeymoon) rate loan is a variable rate loan, which offers further discounted rates for an initial period (up to 4 years). Borrowers can pay lower instalments during the introductory period. However, Borrowers should always be informed that monthly repayments will increase after the honeymoon period, and should be quoted the repayment figure based on interest rates at that time. We suggest you to do a loan health check every two or three years, which ensure your... interest rate is competitive in the market. Our company provide thorough and considerate post settlement client care service and continue to obtain the best interest rate to save your money. If you are looking for any support, just contact us on 1300 COUNT ON US. #mortgage #mortgagebroker #homeloan #Introductoryrateloan #honeymoonrateloan #property #ACT #Australia #realestate

18.01.2022 The split loan is a loan feature that allows you to split your home loan into multiple loan types that attract different interest rates. A popular example for this is to split the home loan to attract a variable interest rate and another to a fixed rate. Splitting your loan allows you to fixed the interest and repayments on part of your loan and let the interest and repayments on the other part fluctuate according to variable market rates. Split loan feature provides you with security over part of your repayment amount, while retaining flexibility over the remainder of your loan. If you are not sure which loan type is suitable for you, please contact Abacus Finance mortgage specialists on 1300 COUNT ON US. #AbacusFinance #SplitLoan #Mortgage #Canberra

13.01.2022 Low-documentation or low-doc loans are for borrowers - generally the self-employers - who have difficulty fully meeting lenders` income policy about a standard home loan. The interest rate offered on these types of loans is usually higher than for the standard rate. The documentation required by Low-doc loans When applying for low-doc loans, you may just provide the lender with selected documentation which is as follows. Business Activity Statements (BAS). Or/and ... Declaration Letter from the accountant. * the policy varies between different lenders. #mortgage #mortgagebroker #homeloan #Introductoryrateloan #honeymoonrateloan #property #ACT #Australia #realestate

12.01.2022 Ready for refinanceCall us today

12.01.2022 Like FHOG, to entitle Home Buyer Concession Scheme (HBCS), you need to meet several requirements, such as applicants' income and the dutiable value, which you can find at the following address. There are also some changes issued lately. First, Barrier Free Model was introduced as part of tax reforms which means the HBCS can be claimed when lodging a property transfer for registration at Access Canberra and the supporting documents are no longer required. Another benefit is t...hat there is no minimum duty applied. Therefore, if you are eligible to the FHOG, do not forget to check whether you are also able to claim this HBCS. It might be able to save you a whole set of furniture for your new home. Requirements: https://www.revenue.act.gov.au//home-buyer-concession-sche Barrier Free Model: https://www.revenue.act.gov.au/barrierfree #mortgage #abacusfinance #mortgagebroker #homeloan #firsthomebuyer #FHOG #HBCS

12.01.2022 For the first home buyer, if you don’t have sufficient deposit, there are still ways to buy your first home with little or no deposit. Generally speaking, with Lenders Mortgage Insurance (LMI), a borrower is allowed to borrow a higher proportion (more than 80%) of the security value from banks. By using LMI, lenders are able to pass on the risk of a smaller deposit to the mortgage insurer. LMI protects lenders against a loss that borrower default on their home loan. Unlike tr...aditional insurance premiums, it's a once off premium paid by the borrower at settlement and usually can be capitalised within the loan. The cost may vary depending on the size of mortgage and Loan to Valuation Ratio (LVR). If you need any support to buy your first home, just call us on 1300 COUNT ON US. #mortgage# #abacusfinance# #lendermortgageinsurance# #LMI# #firsthomebuyer# #homeloan# #mortgagebroker#

12.01.2022 As our last post revealed that the valuation is to determine the value of the property, and calculate the LVR. This value could be different from the figure on the contract of sale, either higher or lower. The lenders will usually take the lower figure to calculate the LVR as they need to manage the risk. In this case, the valuation could be ordered with another lender to see whether there is a better valuation. However, for off-the-plan properties have been purchased for more than 12 months, some lenders can take the contract price as the property value. #mortgage #mortgagebroker #homeloan#property #ACT #Australia #realestate#valuation

09.01.2022 The Big Four banks are proposed to begin sharing credit history this month, which means the major banks will carry out more stringent loan approval for local income applicants. Non-bank lenders may find new opportunities. Comparing to the Big Four Banks, they are more concerned about the risk and the return on investments. Besides, non-bank lenders usually have more flexible loan approval conditions and more diversified products. ... You may consider applying for a loan from the non-bank lenders if you: 1. Self-employed individuals; 2. those clients who have relative low credit score, including late payment records, defaults, bankruptcy and etc.; 3. professional investors who have large investment portfolios #abacusfinance #mortgage #mortgagebroker #nonlender #bigfourbanks #creditsharing #selfemployment #lowcreditscore #professionalinvestor

07.01.2022 When buying your dream home, you should have a big picture about the whole process. Step one: Starting saving deposits Buying a property should be planned in years ahead. You need to take a serious look at your financial situation, and start saving deposits. ... Step two: Getting pre-approval Make an appointment with Abacus mortgage specialists, who will have a good idea about your borrowing capacity and help you acquire lender's pre-approval. With pre-approval, you can find out your maximum borrowing amount. Step three: Hunting a property Do research on local areas to find your dream house, make an offer. If your offer is accepted, you have 14 days to exchange the contract and pay the deposits. Getting involved with experienced solicitors to help you go through the whole property transfer process. Step four: Finalising your finance Once you’re happy with your property, we can help you convert the pre-approval to full-approval. Then you can exchange contract with sellers and pay deposits. At the same time, you need to insure the property. Step five: Settlement On the settlement date, your solicitor and lender will hand over money to seller in exchange of transferred documents of the property. Once the settlement is done, you can get the keys and move into your dream house! #mortgage #mortgagebroker #homeloan #propertybuyingprocess #investment #firsthomebuyer #property #ACT #Australia #realestate

06.01.2022 Are you ready for comprehensive credit reporting (CCR)? Due to a relatively slow uptake of the system (initially recommended in 2014), the Government imposed deadlines for CCR. The big four banks are required to provide 50% of their credit data to credit bureaus by 30th September 2018 and 100% by 1st July 2019. The biggest change is that the last 2 years history on loans and credit cards will be on your clients credit file. Is your business ready to tackle these changes and h...ow do you think this will effect the PRIME lending space? https://www.equifax.com.au//How%20does%20comprehensive%20c

06.01.2022 - Line of Credit - A line of credit has built-in flexibility, which is the main advantage. Borrowers can request a certain amount, but they do not have to use it all. Rather, borrowers can tailor what they spend to their needs, and they only have to pay interest on the amount they spend, not on the entire credit line. In addition, consumers can also adjust their repayment amounts as needed, based on their budget or cash flow. For example, borrowers can repay the entire outsta...nding balance at once, or they can opt just to make the minimum monthly payments. Don't hesitate to contact us now. Suite 6 Level 7 161 London Circuit Canberra ACT 2601 M: 0451 190 525 T: 1300 26 8686 F: 02 9423 4630 W: www.abacusfinance.com.au #AbacusFinance #HomeLoans #LineofCredit #refinance #change #market #bank #investment #investing #property #realestate #growth #InterestRate

05.01.2022 What’s the difference between OFFSET ACCOUNTIS and loan with REDRAW FACILITY? You have to decide if you want to do one of two things: *Reduce the interest on your loan while maintaining day-to-day access of your cash: A mortgage offset account offsets the interest owing on your account, but enables you to have day-to-day access to the cash. It can be used in a transactional way, so is ideally suited for ho...me owners who want to minimise the interest owing on their repayments, without necessarily paying extra off their principal. *Pay off the loan itself (known as the principal): By paying the money directly into the loan, a redraw facility allows you to make payments towards paying off the principal, rather than simply reducing interest in the short-term interest. This is better suited for those who have a focus on paying off their mortgage earlier. Whichever type of facility you use, any extra that you can pay onto your mortgage can save you significant money in the long term. If you are looking for detailed advices, simply leave your comments below or come ask a professional at Abacus Finance Group. #Offset #Redraw #Abacusfinance #Repayment #Interest

05.01.2022 What are valuation and valuation report? *Valuation is an act or process of valuing the asset to be pledged. There are two types of valuation which is desktop valuations and full valuation. A desktop valuation is a computer-generated result from lenders' system. It usually does not require any supporting documents. ... A full valuation may be required in some cases. A qualified third-party valuer will visit and inspect the property to get a more accurate idea in regards to its size, fixtures and fittings, location, neighbourhood and etc. A contract of sale (for purchase) or council rate notice (for refinance) is required for a full valuation. *Valuation report is done after the valuation process to help determine the value of the property which is then used to calculate the LVR-Loan to Value Ratio (Please refer the previous post about LVR). It will tell the bank key points about the property market in the area, the condition of the property. #AbacusFinance #HomeLoans #LineofCredit #refinance #change #market #bank #investment #investing #property #realestate #growth #InterestRate

05.01.2022 Do you know what redraw facility is? Redraw is the ability for a client to withdraw, at a future date, any additional repayments that they may have made to their loan. Most redraw facilities have a minimum redraw amount (around $2,000 depending on lenders) and some have a cost associated with the redraw eg. $20 or $50. A simple application form is usually required to be completed. #mortgage #redraw #redrawfacilities #mortgagebroker #homeloan #owneroccupied #investment #variablerate

04.01.2022 Canberra Home Concession Scheme --- BREAKING NEWS The Home Concession Scheme will change from 1 July 2019. No duty will be payable on the purchase of any home if: The total gross income of all home buyers and their domestic partners for the financial year before the transaction date is below $160,000. ... To be eligible, all buyers much be at least 18 years old, they must satisfy the HBCS current and previous home ownership test, and at least one buyer must satisfy HBCS residency requirement. ! HBCS201971 160,000 18HBCSHBCS

02.01.2022 - Line of Credit - A line of credit has built-in flexibility, which is the main advantage. Borrowers can request a certain amount, but they do not have to use it all. Rather, borrowers can tailor what they spend to their needs, and they only have to pay interest on the amount they spend, not on the entire credit line. In addition, consumers can also adjust their repayment amounts as needed, based on their budget or cash flow. For example, borrowers can repay the entire outsta...nding balance at once, or they can opt just to make the minimum monthly payments. Don't hesitate to contact us now. Suite 6 Level 7 161 London Circuit Canberra ACT 2601 M: 0451 190 525 T: 1300 26 8686 F: 02 9423 4630 W: www.abacusfinance.com.au #AbacusFinance #HomeLoans #LineofCredit #refinance #change #market #bank #investment #investing #property #realestate #growth #InterestRate