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Anba Muniandy

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25.01.2022 Today we are announcing a $1 billion economic and health relief package to help Western Australians get through this pandemic. So many households are dealing wi...th lost jobs, economic insecurity and are worried about the future. That’s completely understandable. Today’s package is about providing relief for them and making sure we can all get through to the other side. I am pleased to announce the following: No WA household will have their water or power disconnected if they have experienced financial hardship due to COVID-19. As of tomorrow, those same people will have no interest charged on deferred bill payments. Eligibility for the previously announced Energy Assistance Payment boost has been expanded. This ensures that any person who has lost employment due to COVID-19, and becomes eligible for a concession card, will receive an upfront $305 credited against their electricity bill (from 11 May 2020) and a further $305 credited over the course of the year. The Energy Assistance Payments have been brought forward to this financial year rather than being paid from 1 July 2020. This means quicker relief for WA households. Households that are directly or indirectly impacted by COVID-19 may also apply for an interest-free payment arrangement and for late payment penalties to be waived for transfer duty, landholder duty, vehicle licence duty or land tax. Keystart home loan customers facing financial hardship due to COVID-19 can apply to defer principal repayments and waive interest costs by up to six months. These measures are all in place until at least 30 September 2020. This builds on the steps we’ve already taken, including freezing increases in household fees and charges next year. It is going to support thousands of WA families that are doing it tough due to coronavirus. We’re going to get through this, and we are going to do it together.

25.01.2022 What happens when your fixed rate expires? Do you know when your fixed rate term is coming to an end? Once it finishes, the bank is free to quietly switch you to a higher interest rate unless you act fast! Think of how costly it could be if you simply let the bank choose your interest rate. If your bank charges you just 0.5% more than the competitive interest rates, this adds up to a significant amount over the term of your loan. You can save yourself a great deal of money... and perhaps even cut years of your loan, if you are proactive about monitoring your interest rates and choosing the right option for you. Switching to a variable rate A variable rate can be a great option if you want to take advantage of low interest rates, or if you want the flexibility to redraw or make extra payments. When your fixed rate term expires, the bank will automatically switch your loan to the Bank Standard Variable Rate (BSVR). Do some research to find out whether this is a competitive rate; if not, you can talk to your bank and try negotiating a better deal. And if they do not offer you a competitive rate, you can switch lenders. Lenders generally prefer to negotiate rather than lose a customer, while they dont generally make their best offers to customers with a proven history of loyalty. So when it comes to your interest rate, stay alert and ask questions keep your lender busy, trying to keep you happy! Extend your fixed rate One option is to ask the bank to refix your home loan, extending it for another one, three, five to ten years. The fixed rate is a good option for you, if you are planning to pay off your loan steadily over a long period of time, and you want each mortgage payment to be a regular amount so you can budget your money precisely. Fixed rate protects you from rate rises and you could be paying less than the variable rate. However, there is also the risk that you could end up paying higher than the market rate if you are locked into an outdated fixed interest term. There may also be a break fee if you change or pay off your loan within the fixed period; this means the fixed rate is not a good option for anyone planning to sell their home. Call us today if you need assistance pinpointing the best and most competitive option for you.

23.01.2022 How to calculate your borrowing power One of the most important factors in your home ownership journey is the amount of money you can or should borrow. You want to borrow enough that you can purchase the right property for your needs, yet you dont want to end up out of your depth in debt. Most lenders rely on their own variation of a basic formula to calculate your borrowing power. They look at six elements of your financial situation gross income, tax, existing commitme...Continue reading

23.01.2022 Comparing commercial and residential property investment If you are looking for a sound real estate investment, look beyond the typical two bedroom apartment and consider expanding your portfolio with a commercial property. There are three types of commercial property office, retail and industrial. There are some significant differences between investing in commercial and residential real estate, each with a potential positive or negative impact on your investment. ...Continue reading

22.01.2022 Today we are announcing a $1 billion economic and health relief package to help Western Australians get through this pandemic. So many households are dealing wi...th lost jobs, economic insecurity and are worried about the future. Thats completely understandable. Todays package is about providing relief for them and making sure we can all get through to the other side. I am pleased to announce the following: No WA household will have their water or power disconnected if they have experienced financial hardship due to COVID-19. As of tomorrow, those same people will have no interest charged on deferred bill payments. Eligibility for the previously announced Energy Assistance Payment boost has been expanded. This ensures that any person who has lost employment due to COVID-19, and becomes eligible for a concession card, will receive an upfront $305 credited against their electricity bill (from 11 May 2020) and a further $305 credited over the course of the year. The Energy Assistance Payments have been brought forward to this financial year rather than being paid from 1 July 2020. This means quicker relief for WA households. Households that are directly or indirectly impacted by COVID-19 may also apply for an interest-free payment arrangement and for late payment penalties to be waived for transfer duty, landholder duty, vehicle licence duty or land tax. Keystart home loan customers facing financial hardship due to COVID-19 can apply to defer principal repayments and waive interest costs by up to six months. These measures are all in place until at least 30 September 2020. This builds on the steps weve already taken, including freezing increases in household fees and charges next year. It is going to support thousands of WA families that are doing it tough due to coronavirus. Were going to get through this, and we are going to do it together.

21.01.2022 Can you guess them all

20.01.2022 How to ensure your renovation will increase your house value There are two main benefits to renovating your property firstly, you can make it more comfortable and compatible for your lifestyle; and secondly, you can increase the value of your home. The challenge is to find the right balance between these two benefits if you invest too much into renovations, you risk reducing the amount of profit you would make when you sell. So how do you strike the balance and turn your... renovation into profit? The 10% rule One handy rule of thumb is to ensure your renovation doesnt cost more than 10% of the propertys value. If you are planning an extensive renovation, do your research to make sure you are not over-capitalizing. If you are building a substantial extension on a family home, for example, you should regain the value through creating a home that suits your familys needs for a considerable period of time. Keep it simple and contained The renovations that increase the value of a home are generally in the kitchen and bathroom. A future buyer wants to know that these rooms are up-to-date with relatively new fixtures and fittings. The garden is another selling point as potential buyers will be attracted to a healthy, well maintained garden. Take your renovations slowly, step by step, finishing one room before starting on another. This way, you can keep track of costs and also ensure that your house remains liveable rather than turning into a chaotic mess that will be finished one day! Check for council approval Before you dive into any renovations, make sure you have council approval. As part of the process, ask your neighbours to check over your plans before you start work. You dont want the neighbours complaining that your renovation reduces the value or comfort of their home. Sometimes it just means repositioning a window that overlooks the neighbours yard, in order to keep everyone happy. Consider your financing Depending on your financial position, you could use your equity to finance the renovations, a combination of equity and savings, or you could take out a construction loan. In order to access the equity on your home loan, you need to ensure that the loan includes features such as redraw, line of credit and an offset account (this of course varies based on individual circumstances and needs). A construction loan is written against the renovated valuation of the property, and the lender interacts directly with the builder, making regular milestone payments and monitoring a schedule. Basically, your lender has a vested interest in ensuring your renovation increases the value of your home. If you need assistance working out the best way to finance your renovation and ensure it increases the value of your home, contact us today.

18.01.2022 Renting vs Buying Calculator Attached is a simple calculator by AMP which compares Buying vs Renting (and investing the balance). Used the following assumptions for the comparison:... - Home value of $500,000 - Deposit of $50,000 plus costs of $35,000 inc LMI - Homeloan rate of 6% (factoring in potential future interest rate rise) - Ongoing monthly cost of $750 inflation adjusted (council water rates, insurance and repairs etc) - Weekly rent of $350pw - Home value appreciation of a 4% - Rent increase of a modest 3% in line with inflation - Returns on savings of 7% The calculator estimates we would be better of by around $217k (before tax) should we buy vs renting using the above assumption. Note PPOR generally does not attract CGT, while savings and investment would be taxable income. Feel free to make your own comparison using the link below:

17.01.2022 Why you need a property inspection Whether you are purchasing a new home or an investment property, you are about to embark on one of the most important financial investments of your life. So it is essential to ensure that you are getting a fair deal. Yet, while buyers can be scrupulous about checking contracts and researching market prices, a surprising number of people tend to skip the property inspection. This means that you are taking ownership of any issues that could d...Continue reading

17.01.2022 First Home Super Saver Scheme have been passed.

17.01.2022 BUSINESSES / NOT FOR PROFITS do you need to register for the JobKeeper Payment assistance. Here is the link and further information. https://www.ato.gov.au/general/gen/JobKeeper-payment/ Info for Employers:-... https://treasury.gov.au//Fact_sheet_Info_for_Employers_0.p Info for Employees:- https://treasury.gov.au//Fact_sheet_Info_for_Employees_0.p The JobKeeper Payment is a subsidy to businesses, which will keep more Australians in jobs through the course of the coronavirus outbreak. The payment will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer. Employers will receive a payment of $1,500 per fortnight per eligible employee. Every eligible employee must receive at least $1,500 per fortnight from this business, before tax. The program will commence today, 30 March 2020, with the first payments to be received by eligible businesses in the first week of May as monthly arrears from the Australian Taxation Office. Eligible businesses can begin distributing the JobKeeper payment immediately. The full amount, before tax, must be passed from employer to employee, or that business' owners will face stiff penalties. (And so they should!) Eligible employers will be those with annual turnover of less than $1 billion who self-assess that have a reduction in revenue of 30 per cent or more, since 1 March 2020 over a minimum one-month period. Employers with an annual turnover of $1 billion or more would be required to demonstrate a reduction in revenue of 50 per cent or more to be eligible. Businesses subject to the Major Bank Levy will not be eligible. Eligible employers include businesses structured through companies, partnerships, trusts and sole traders. Not for profit entities, including charities, will also be eligible. Full time and part time employees, including stood down employees, would be eligible to receive the JobKeeper Payment. Where a casual employee has been with their employer for at least the previous 12 months they will also be eligible for the Payment. An employee will only be eligible to receive this payment from one employer. Eligible employees include Australian residents, New Zealand citizens in Australia who hold a subclass 444 special category visa, and migrants who are eligible for JobSeeker Payment or Youth Allowance (Other). Self-employed individuals are also eligible to receive the JobKeeper Payment. In addition to this, the JobSeeker payment partner income test will be raised to $79,700, up from $48,000.

14.01.2022 Quick tips for working out a propertys market value When you are searching for the perfect property, it can be challenging to work out exactly how much you should be paying. Rather than relying completely on the word of others, you can develop your own strategy for valuing a property, so you have a better independent idea of how much it is really worth. 1. Make a comparison search... Property sales are in the public domain, so you can research your chosen area and make a list of five comparable properties that have sold within the last six months. To ensure the properties are comparable, make sure they are within a kilometre of your target property, and that they have similar features, such as the same number of bedrooms, bathrooms and car spaces, and a similar land size. Also make a note if any property has additional features such as a pool, or whether it is more conveniently located in relation to amenities such as schools and transport. Do not include properties that have not yet sold, as the advertised price is not a true indication of how it will sell. 2. Rank your list Once you have a short list of comparable properties including the one you are planning to sell or buy, rank each property in order from Most Desirable to Least Desirable. Try to be objective in this exercise, looking at the land size and location, rather than whether you prefer one garden to another. Proximity to schools is a plus if you are valuing a three or four bedroom home, but less of a concern for a one or two bedroom home. Buyers tend to be drawn to properties with newly renovated kitchens and bathrooms, so keep this in mind when ranking your properties. Your ranking from most to least desirable might not tally with the ranking from most to least expensive this will give you an idea of what features are important to people buying into the area. 3. Adjust for market movements Now you have placed your target property within a list of five comparable properties so you can see where it stands in the price range between the most expensive and least expensive properties. However, the market may have shifted within the last six months from hot to cold or back again, since the first property was sold, so you will need to adjust for current market conditions. Once you have adjusted, you should have a clear idea of how much your target property is currently worth, based on its place in your ranking list. 4. Check your figures You can back up your research by checking the median house price for the suburb in question. The Domain real estate website will also show the discounting percentage for a specific area, which is the average discount below the agreed listing price. For example if a house listed at $1 million sold for $900,000, then the discounting percentage is 10%. Contact us today if you need assistance assessing the value of a particular property.

14.01.2022 Whats the best time to purchase a second property? You are established in your home and ready to dabble in some investments, yet you are a little daunted by the responsibility of owning two properties. How do you know when conditions are right for you to purchase a second property? If you are like most one-property owners, you might visualize a few obstacles preventing you from purchasing a second property. So lets look at some of these obstacles and see if there is a way ...around them. Dont let market conditions dictate your decision Many buyers find themselves in limbo waiting until interest rates and housing prices are just right. While this is a positive opportunity to continue saving and build equity in your existing property, it can also be counter-productive if the ideal conditions never eventuate. Property investment is about long term capital growth, and you can only start that growth process once you make the purchase. An alternative to paying off existing property Property owners can also be inhibited from buying a second property because they are focused on paying off their existing home first. However, if you are looking at your property portfolio from the investment perspective, it is worth calculating your options here, as a second property can considerably increase your overall equity. While paying off your first home first may seem like the more secure option, investing that money into a second property can be more profitable, thereby increasing your financial security. Your own financial situation Ultimately, the best time to purchase your next property is when you are financially capable of managing a second mortgage. Ideally, you should have at least a 10% deposit available (plus closing costs), through cash or equity or a combination of both, with additional capital to cover any rise in interest rates, emergency maintenance or loss of income in between tenants. Talk to your mortgage broker to assess your options, so you know how to make best use of your equity, what sort of loan you can apply for, and how much the repayments should be to fit your budget and achieve your investment goals. A property with profit potential Besides capital, the other factor that signals the best time to buy is when you find a property within your budget with high and safe returns. Look for a property with great rental potential for its area, so you can be confident of a regular rental income. Property investment is never an impulsive decision it will take intensive research and budget calculation to find the property that covers all your bases. When you find that property and have the capital to cover your investment expenses, then you have narrowed down the right time to purchase your second property. Contact us today if you need advice or assistance in expanding your property portfolio.

14.01.2022 New Grant from WA government on top of existing federal government grant and FHOG.

13.01.2022 The hazards of applying to multiple lenders Its natural that when you are researching something as important as a home loan, you should do as much research and comparison shopping as possible. However, if you apply for a mortgage through several lenders at once, your vigilance could backfire. How multiple applications impact your credit score...Continue reading

12.01.2022 Like to know how much you can borrow? Message me today to get your free borrowing capacity report!

10.01.2022 Top Six Reasons why your home loan might be declined Youre ready to buy a home, but you cant find a lender who will approve your home loan. While this might seem discouraging and frustrating, it is not necessarily the end of your dream to become a home owner. Once you know the reason that you are considered a bad risk, you can improve your eligibility. Usually, it just takes a little more time and to improve your eligibility. Here are the top six reasons lenders might decl...Continue reading

09.01.2022 First home super saver scheme has now passed the lower house and to be debated in senate.

08.01.2022 How many do you follow?

08.01.2022 How to choose the right property for you Your home is perhaps the biggest investment of your life particularly as it is not just a financial investment, you are also investing in your future lifestyle. Yet many people have a tendency to fall in love with a particular property, and they forget to remain logical in their thinking. As a result, they find themselves owning a property that does not suit their current lifestyle or their future financial plans. So how do you cho...ose the right property for you? Find a property that fits your real-life needs, not your dream lifestyle You might have fantasies of living by the beach or in a small inner-city unit within walking distance of all the pubs and cafes, but how will this choice fit your budget and your long-term lifestyle? Your first home should fall within your budget and it should be compatible with your work and family life. There is no point purchasing a dream property that requires a two-hour commute to work or takes up all your spare money reducing your quality of life. Is it a good investment for you? Investigate the economic possibilities of the location and the property itself to see how it will appreciate over time. Also consider how the property will grow alongside your lifestyle choices perhaps you want to flip the investment property by doing a few renovations and selling for a profit, or perhaps you want to live for a few years in a small house before extending the property to make room for a family. Whatever your plans, your property is an investment tool that you can use to provide for your future. Is the property value accurate? If you fall in love with a particular property, you may trick yourself into wanting to spend more than necessary just to win it. However, it is important to check that you are paying what the property is actually worth. Look at the purchase history of the property and neighbouring properties to see how their value has appreciated, and how much they are all perceived to be worth now. Consider what needs to be done to the property in terms of renovations or repairs in order to make it right for your purposes. Will you need a home loan? Before you commit to a property, look carefully into the financial aspect of the deal. Find out how much you will need to borrow in order to secure the property, and whether you can still maintain your quality of life while paying off the loan. If you need assistance working out how to find the right property for your lifestyle and budget talk to us today

08.01.2022 See if you can answer this.

06.01.2022 Can guess the right tank? Stay tuned for the answer.

05.01.2022 Which is the right home loan for you? There are a bewildering variety of home loans available, and it can be confusing to figure out which type of home loan is the best for your circumstances. However, when you know the pros and cons of each type of loan, you can make a decision that will fit best with your financial situation. Fixed rate home loan...Continue reading

04.01.2022 First drop in banks' interest-only loans since 2009. The value of interest-only home loans on the books of Australian banks shrunk for the first time in more than seven years last quarter, as a crackdown on higher-risk lending by regulator APRA. There is around 0.6% to 1.3% gap between Principle&Interest Loans vs Interest Only loans. Have a chat with us if you are on an Interest Only loan would like to know if its worth for you to move to Principle and Interest loans.

03.01.2022 Perth's record-low vacancy rate has dropped even further, prompting warnings from REIWA that the city is heading toward a rental crisis. In just two months, Perth’s vacancy rate has gone from 2 per cent to 1.3 per cent and is expected to keep dropping.

02.01.2022 Eight tips for New Australians wanting to purchase property If you are new to Australia and looking to establish a comfortable, settled life here, then sooner or later, you will naturally consider buying property, either as an investment or a home for your family. So there are a few things you need to do in preparation for your first property purchase. 1. Find steady employment When you eventually want to apply for a loan, the first thing the bank or lender will investigate i...Continue reading

02.01.2022 Sell or buy first? Which option is right for you? Its the ultimate dilemma for any home owner planning to move on to a new property do I sell or buy first? You dont want to sell unless you have somewhere else to live, but you dont want to buy unless you have the money from the original home. Whichever way you go, there will be some stress involved, so its important to look at the pros and cons of each option to decide which is the most suitable and practical for your c...Continue reading

01.01.2022 Understanding the buying and loan process Purchasing a new home or an investment property can be a daunting prospect, and you might find it difficult to identify the first logical step. Here we look at the process of securing a loan so you can buy the property that suits your needs and your budget. Ask yourself what you want to achieve...Continue reading