Australian Financial Market in Parramatta, New South Wales | Loan service

Australian Financial Market

Locality: Parramatta, New South Wales

Phone: +61 1300 126 688

Address: Suite 104, Level 1, 25-27 Grose St 2150 Parramatta, NSW, Australia

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

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23.01.2022 Units are a popular choice, but not all apartments are created equal. Apartments tick plenty of boxes. In any given location they tend to be more affordable than houses, they typically involve less maintenance, and amid a growing preference for lifestyle over the traditional quarter acre block, apartments are dishing up healthy rental yields which is good news for investors. As a guide, the latest industry figures from CoreLogic show rental yields on apartments across Austral...Continue reading

23.01.2022 http://www.corelogic.com.au/news/best-of-the-best-for-2014

23.01.2022 What you can do to make refinancing your home loan as smooth as possible: While refinancing is pretty straightforward it can still throw up some surprises so here are six steps to smooth refinance sailing. Lets face it, dealing with home loans, lenders and finances can be stressful, but its important to stay on top of it because you could save thousands of dollars and years off your home loan just by keeping on top of things and ensuring youre getting the best possible dea...l. While the refinancing process is pretty straightforward, it can still throw up some surprises so here are a few tips that will help smooth out the process. Limit your applications: Each time you apply for a loan its marked on your credit history. If you apply for multiple loans it might reflect poorly on you and lead other lenders to think that youre being declined, so do your research and decide who you want to go with before making any applications. Be realistic about your homes value: Dont be deluded about your homes value. You can get an idea of what your propertys worth in the current market by asking local real estate agents to value it, which will give you some indication before you go down that path with a lender and end up disappointed. Save the splurges: Lenders work out your ability to repay a loan by assessing your income and expenditure. Making any big purchases around the time of refinancing could be the difference between loan approval and decline, so hold off on non-essential large purchases if you can. Time is money: Time certainly can be money when it comes to home loans. If youve chosen a new lender make sure you know how long it will take to discharge your mortgage from your current lender and arrangement settlement with your new one so youre not caught out! Some refinances can take almost as long as a new purchase settlement, so be prepared. Provide all paperwork: There are lots of is to dot and ts to cross when refinancing your home loan. Help make the process easier for both yourself and your broker by submitting all the supporting evidence they need in one go, and on time. Be thorough! Sending through bits and pieces at different times can lead to things being misplaced or expiring, which will drag out the process. Be contactable: Lack of communication can cause delays, so make sure youre contactable and responsive. If you take several days getting back to your broker on something, then you should expect this to push back your settlement time. Have you recently refinanced your loan? Share your experience with us. If you found this article useful please share it using the buttons below

23.01.2022 7 mistakes first-home buyers make Buying your first home is an exciting but stressful experience. You can take the stress out of the equation by learning from the mistakes others made and avoiding them. Whether its a new apartment or an old one or even a house in the outer suburbs finding an affordable home isnt easy for anyone starting out. And in all the excitement of going house hunting, its all too easy to make mistakes. The following are seven of the most common m...Continue reading

21.01.2022 Home equity your untapped wealth - Part 2 What is home equity? Home equity is the difference between the market value of your property and the size of your home loan. Over time, if property prices rise (also known as capital growth) and your loan is steadily paid off, home equity should increase with each passing year.... How to calculate home equity Home equity is the difference between what your property is worth and how much is owing to your lender. Lets say for example, that Joe and Jane bought their Sydney unit valued at $500,000 in late 2014. If their property has risen in value by the 11.5 per cent growth rate recorded last year, the apartment could currently be worth $557,500 ($500,000 x 1.115). Assuming they have a mortgage of $350,000, Joe and Jane could have home equity of $207,500 ($557,500 less $350,000). However, just because they have $207,500 in equity doesnt mean they can access or use the entire amount. Just like with normal mortgages, if you borrow more than 80 per cent of your homes value you may have to pay Lenders Mortgage Insurance (LMI). To avoid LMI, you can work out your homes useable equity with this calculation: Your homes value (say $500,000) x 0.80% = $400,000 The amount of debt owing: $350,000 Your homes potential useable equity: $400,000 $350,000 = $50,000 REMEMBER! You will still need to prove to your bank or lender that you can afford the higher loan repayments once the equity is added to your loan.

21.01.2022 Welcome back to the New Year! We hope everyone had a safe and Joyful time with friends and family. Now that the hustle and bustle of the festive season is coming to a close, now may be a good time to review your finances (especially if the Credit Card had an additional workout recently). We may be able to help you save money on your current mortgage - FREE Home Loan Health Check - perhaps consolidate your credit card expenditure, and help you to budget for the coming year.... Please call our office on 02 8833 5300 between 8:30am and 5:30pm Monday to Thursday and 9am to 5pm on Friday.

20.01.2022 Units are a popular choice, but not all apartments are created equal. Apartments tick plenty of boxes. In any given location they tend to be more affordable than houses, they typically involve less maintenance, and amid a growing preference for lifestyle over the traditional quarter acre block, apartments are dishing up healthy rental yields which is good news for investors. As a guide, the latest industry figures from CoreLogic show rental yields on apartments across Austral...Continue reading

20.01.2022 Interesting article we found - considering the number of people we come across who have/are or considering building Granny Flats. http://www.domain.com.au//the-traps-hidden-in-australias-/

19.01.2022 Mortgages are the foundation of home ownership in Australia, and if you are entering the real estate market be it your first home or a property investment understanding the most common mortgage features will help you compare options and control your financial future. Here are five basic mortgage features to consider when taking out your home loan: 1. Fixed or variable interest rates...Continue reading

18.01.2022 Were looking for more Mortgage Brokers. If you or anyone you know has a minimum Cert IV in Mortgage/Finance and would like to join a firm that has more appointments than brokers - We would love to hear from you.

17.01.2022 The big difference between property and any other type of investment is that you can actually touch it. Its bricks and mortar, not just numbers on a screen. Its also considered one of the more solid, less volatile forms of investment. Investors tend to like property for its: Potential capital growth (increase in value). Ongoing rental return.... Tax benefits. You dont need a big salary to get started Lenders consider the potential rental income youll get from the property when calculating how much you can borrow. So property is a viable investment option for first time property buyers as well as existing property owners. If you already own your own home, and have a reasonable amount of equity in it, you mightnt need to raise any cash to start investing. Many lenders will let you use that equity as a deposit for the investment property. But if you dont already own a property dont be put off. If you have a deposit saved, an investment might be a good way to get into the property market. While you wont get all the grants and concessions that come with buying a home, you dont have to wait till you can afford somewhere that suits your needs. You can buy something that might make you some money instead.

17.01.2022 BREAKING NEWS! - RBA Have reduced the cash rate to 2%. This is an historic low! Book your home loan health check now!

17.01.2022 Construction Loans Part 2: Advantages and Disadvantages Advantages of construction loans Protection. By making progress payments instead of giving the builder a lump sum up front, borrowers and their lenders can make sure that builders or contractors arent being paid for work that hasnt been done, or done properly. Less interest. Youre only charged interest on the amount drawn down and not the fully approved loan amount, saving you money during the construction period.... Lower repayments. Your loan is interest only during the construction period, helping your cash flow while the works being carried out which is useful if youre also having to rent somewhere else! Disadvantages of construction loans Paperwork. The lender will want to see council approved building plans and a fixed price building contract before they approve a loan, so theres still a bit of work and expense needed before you get approval. Deposit. Loan to value ratios (LVR) are typically higher on construction loans, especially if youre an owner builder and managing the work yourself, so you may need a chunky deposit. Available funds. You may only be able to pay contractors once the lender is satisfied with the progress. Higher rate. The interest rate on a construction loan can be higher than the rate charged on normal home loans, though typically this reverts back to the standard rate once constructions completed. TIP! You may want to consider getting a small line of credit to pay urgent bills, which you can then pay down when you receive the progress payment from your lender.

16.01.2022 More and more people are talking about buying properties through their Super but is it right for you? SMSF has practically become a new buzz word in property, but theres a whole lot more you need to know before jumping in. Short for Self Managed Super Funds, SMSF works differently to regular property investment. Here are five things you should know about purchasing property through an SMSF:...Continue reading

16.01.2022 Did you know: We can assist with competitive Home/Contents/Landlord Insurance. If you would like a quote please call our office and ask for Wanda on 02 8833 5300 and we will arrange for a quote for you

15.01.2022 More and more people are talking about buying properties through their Super but is it right for you? SMSF has practically become a new buzz word in property, but there’s a whole lot more you need to know before jumping in. Short for Self Managed Super Funds, SMSF works differently to regular property investment. Here are five things you should know about purchasing property through an SMSF:...Continue reading

14.01.2022 Wishing everyone a safe and special Christmas with your loved ones. If you are travelling, take your time - better late than never, if you are staying home, enjoy the break and we hope you catch up on your rest and relaxation. Our office will be closed from Friday 19th December 5pm and reopening on Monday 5th January. Blessings to all and see you next year!

14.01.2022 CBA reports $4.5 Billion half-year profit. Up 8% from the previous comparative period. Home Loan Health Checks are Free of Charge. We may be able to save you hundreds or thousands.

13.01.2022 Whats your investment strategy capital growth or rental return? If youre toying with the idea of property investment but arent sure where to start, understanding the different property investment strategies and what they entail is a good place to begin. There are typically two mains schools of thought when purchasing an investment property buying for capital growth or rental return....Continue reading

12.01.2022 Interest rates are moving......again..... Are you paying too much in interest? Not sure? Have you had a home loan health check recently? Unless you ask, you will not know. Free service to see if we can save you $100s or even $1000s... Appointment booking essential

12.01.2022 Cant believe how quickly this year is going! We have not been as active in posting articles here as we would have liked - hope to rectify this matter next year. We wish all including, family, friends and extended friends a very safe and merry Christmas. If you are travelling - Stay Safe... If you are staying home - Relax and Recharge We look forward to connecting with you in some form or another in 2016 xx

11.01.2022 The Pros & Cons of New vs Old investment units Some investors wouldnt even consider buying a brand new apartment off the plan, while others would swear by it. So, what do you think? Just like there are different property investment strategies, there are other considerations when investing in property. City or country? House or apartment? New or established? The list goes on....Continue reading

11.01.2022 Construction Loan Part 3: Other ways to pay for renovations (final post for this topic) Other ways to pay for a renovation: If youre knocking down and rebuilding, a construction loan may be the way to go. But if youre just renovating, there are other borrowing options such as extending your current mortgage, securing a line of credit loan, mortgage redraw, releasing home equity, refinancing or even a renovation personal loan (if the work isnt structural).... A mortgage broker can help you understand the various options and work out which one suits your needs. You get experts to do the construction for you, so why not get an expert to help you work out how to pay for it? Have you recently upgraded or rebuilt your home? What did you do and how did you finance it? See more

11.01.2022 Pros and cons to buying off the plan If you like the thought of having a sparkling new property that no ones lived in before without the hassle of building yourself, then buying off the plan might be for you. There are some important differences between buying a home and purchasing off the plan; some that might work in your favour and others that you need to be careful of. To help you work out if buying off the plans for you, here are some pros and cons to consider before t...Continue reading

09.01.2022 Home equity your untapped wealth Your home equity could offer a source of low cost funds that can be used to achieve personal goals. Its no secret that the property market took off in 2014 and 2015 in many parts of Australia. So what does that mean for home owners? The bottom line is that you could be sitting on a gold mine also known as home equity, and funds you may be able to tap into to achieve your personal wish-list. Have you always wanted to be a property investor, ...or do you long to travel the world and tick things off an ever growing bucket list? By tapping into your home equity, these dreams may be possible sooner than you think. Stay tuned next week for the next chapter in home equity and how it may help you realise your dreams sooner.

09.01.2022 Can't believe how quickly this year is going! We have not been as active in posting articles here as we would have liked - hope to rectify this matter next year. We wish all including, family, friends and extended friends a very safe and merry Christmas. If you are travelling - Stay Safe... If you are staying home - Relax and Recharge We look forward to connecting with you in some form or another in 2016 xx

08.01.2022 A mortgage broker will make you refinance with a new lender (MYTH!) Mortgage broking in Australia has been around for decades but many people still dont understand what a mortgage broker does and how their service works. Despite that approximately 50% of people now use a mortgage broker to get a home loan, there are still many people out there who dont understand what a mortgage broker does and how they can help you find a good deal on your mortgage.... Today well address if a mortgage broker will force you to refinance your home loan to a new lender. First, its important to point out that a mortgage broker shouldnt ever make you do anything that you dont want to do. Their role is to review your financial circumstances and personal goals and check if your home loans still right for you. If its not, they can find one that better suits your needs at a better rate and/or structure. Its also worth knowing that changing your home loan is becoming increasingly common in todays competitive mortgage market. In fact, on average homeowners change their loan every five years. Your mortgage broker might find that youd be better off going with another lender, but they should always present the information and various options for you to consider, so you can then make an informed decision. If youre largely happy with your lender and the flexibility and features your home loan gives you, your mortgage broker may be able to negotiate a better rate directly with your lender on your behalf. This means you may avoid the need to refinance and avoid any costs that could be associated with that. If your lender wont come to the party and offer a reduced rate, then perhaps its time to consider other options. A mortgage broker can compare hundreds of different loans from various lenders within minutes to help find you a better deal. Have you used a mortgage broker? Share your experience with us in the comments. If you found this article useful please share it using the buttons below.

06.01.2022 Expert strategies for buying at auction how to bid like a pro! (2 parts) Its auction time but you dont know how to play it; poker face with big sunglasses or wear your Sunday best in an attempt to scare away the competition? Youve just started the daunting process of looking to buy in Sydney. Youve been researching online and inspecting properties and have been interested to note that auction seems to be the popular method of sale in the thriving Inner West where your...e looking. You and your partner own investment properties and have been through the buying process before, however neither of you have bought at auction. You know the basics, like doing your due diligence, setting a maximum purchase price and the other all-important steps on the pre-auction check-list; but what should be your auction strategy? While every buyer needs to have a bidding strategy, theres no one size fits all approach to auctions. Auctioneers have different tactics and a buyers approach also might vary from a $500,000 property to a $2m property. However there are some basic strategies that you may be able to use for any auction situation. Run your own race Dont let other buyers or selling agents push you out of your comfort zone. Some real estate agents can be overbearing during an auction and hover around and press you to make higher offers. If this happens to you try to remove yourself from the situation. If youve properly prepared pre-auction then you should have a good idea of the propertys value and have your limit set, so politely ask them to leave you to it or tune them out. Be visible Position yourself somewhere prominent and noticeable in the crowd. Dont hide up the back or in a corner. Stand where you can see whats going on, and more importantly, so the auctioneer can clearly see and hear you. It will be easier to have conversations and help limit the possibility of being misinterpreted.

06.01.2022 http://www.corelogic.com.au//is-this-a-house-price-boom-ti

05.01.2022 Unsure if you need a Home Loan Health Check? These simple questions will help If you tick Yes to one or more of the questions below, its time to check the health of your home loan to make sure its meeting your current and future needs: Have there been interest rate changes since you got your home loan?... Is a fixed rate term in your home loan about to end, or recently ended? Are your family circumstances changing, e.g. dropping from two salaries to one? Are you planning to renovate? Are you thinking of moving? Would you like to purchase an investment property? Do you want to access your homes equity? Do you struggle to pay debts from credit cards, mortgage, personal loans? Do you have multiple loans and credit cards with various providers? Home Loan Health Checks are quick, cost and obligation free and can be done at a time and place that suits you. Organise your Home Loan Health Check today. Call the office on 02 8833 5300 and ask to speak to one of our brokers or make an appointment for a visit.

05.01.2022 Interest-only home loans When you think about investing in property, you think about location, capital growth and rental returns . But what about when it comes to choosing the right loan? Interest-only loans can have great benefits for investors: they can help with your debt-recycling strategy. Find out how you can make an interest-only loan work for you....Continue reading

05.01.2022 Expert strategies for buying at auction how to bid like a pro! - 2nd instalment Say the full amount when making a bid State loudly and clearly the full amount youre offering each time you make a bid. While partly psychological, reinforcing the amount not just for yourself or the auctioneer but for all the other bidders around you injects some reality into the auction and establishes your confidence.... Knock out the bargain hunters from the serious buyers Beware the ridiculously low opening bid. If the auctioneer starts the bidding too low, chances are theyre trying to build an atmosphere of competition by opening with a bid that will get the bargain hunters involved. If this happens and youre confident in your auction preparation and the propertys value, throwing out a much higher bid can work in your favour by knocking out the competition that isnt serious. Just make sure you keep the bid low enough to still allow yourself to get the property for a better price than youre prepared to pay. Hold off bidding until its on the market The property wont sell until it reaches the vendors reserve price. When this happens, the auctioneer will, and has to by law, say that the property is on the market. Theres no harm in holding off bidding until this happens because unless it reaches reserve it wont sell, so theres no need to get stressed about bidding until you know its going to sell. Remember buying at auction is all good and well but before you start flexing your paddle raising muscles be sure youre actually ready to bid Have an auction buying checklist and ensure you have Pre-Approval in place if you are financing any part of the purchase. Have you recently bought or tried to buy at auction? What bidding strategies did you use, and did they work? If you found this article useful please share it with your friends and invite them to like our page..

05.01.2022 We are looking for more brokers to join our team - if you know anyone who is an accredited broker, or has the desire (and drive) to make a career in this industry, please direct them Abdul or Wanda. Our office number is 02 8833 5300

05.01.2022 Can't believe how quickly this year is going! We have not been as active in posting articles here as we would have liked - hope to rectify this matter next year. We wish all including, family, friends and extended friends a very safe and merry Christmas. If you are travelling - Stay Safe... If you are staying home - Relax and Recharge We look forward to connecting with you in some form or another in 2016 xx

04.01.2022 Interest-only home loans When you think about investing in property, you think about location, capital growth and rental returns . But what about when it comes to choosing the right loan? Interest-only loans can have great benefits for investors: they can help with your debt-recycling strategy. Find out how you can make an interest-only loan work for you....Continue reading

04.01.2022 Seven tricks property stylists use to bolster your sale price Getting the best price for your property is important but how do you spruce it up without adding a lot of extra expense? Property stylists can be a brilliant investment if youre selling your home. They can make unused spaces look inviting and can cleverly draw the eye away from ugly areas without incurring too much effort or expense. Some Property stylist may be able to add $20,000 to $75,000 to the price of an oc...Continue reading

04.01.2022 Tax and Property Investment When it comes to property investments and tax there are 3 main things to be aware of: Negative gearing. Tax deductions.... capital gains tax. Negative gearing Negative gearing is when the annual cost of your investment is more than your return. Basically, when the cost of maintaining your property and paying the interest on your loan is more than the rental income you get from it, you are negatively geared. When this happens the government allows you to deduct the costs of your property from your gross income. So say your income is $60,000 a year but your property costs you $15,000 a year, youll only need to pay income tax on $45,000. This way youll pay less tax, but dont be mistaken, it is still a loss -just a smaller one that hopefully will be more than made up for by the propertys increasing value. You probably wont see a return on your investment until you sell the property, and only if its for a much better price than you originally bought it for. Tax deductions Whether you are negatively geared, or getting a positive income stream from your property, you can claim expenses relating to your rental property for the period your property was available for rent. All the following expenses can be claimed: Advertising for tenants, agents fees and commission. Interest payments and loan fees. Council rates, land tax and strata fees. Depreciation of items such as stoves, fridges and furniture. Repairs, maintenance, pest control and gardening. Building and landlords insurance. Stationery, phone costs and any travel to inspect the property. The above is not a full list of what you can claim. Get proper advice from a tax expert before putting in your return. Capital gains tax What the Government gives with one hand, it takes with the other. Capital gains tax is a tax on the profit youve made on the property. So its based on the difference between what you sell it for and what it cost you (the purchase price plus anything you have spent on capital improvements or renovations). Definitely get advice on what you might be up for when considering selling your investment property. See more

04.01.2022 Home equity your untapped wealth - Part 3 A source of low cost funding Many people believe they can only access home equity when they sell their home to upgrade to a different property. However it is possible to tap into equity without having to pull up stumps. If the value of your home has risen it may be possible to harness your homes equity by topping up or redrawing on your home loan. And there can be good reasons to do this.... First, home loan interest rates are normally lower than other types of credit, like personal loans or credit cards. Even better, at present, mortgage interest rates are very competative. By using home equity rather than another type of credit to fund major purchases, you may gain the advantage of a very competitive interest rate. Are there costs to access home equity? If you want to borrow more than 80 per cent of your homes value, then LMI might be a cost. If you decide to switch banks and refinance, then there are costs involved in refinancing, which may include application fees, valuation fees, settlement fees, mortgage stamp duty fees and any exit fees if they apply. You need to check with your bank or mortgage broker what fees apply if you top up your current mortgage. They can be free with some home loan products, while other banks can charge upwards of $450 as a one-off establishment fee.

01.01.2022 With lenders being increasing competitive to win your business, borrowers are in a strong position. Now may be the time to review your home loan to ensure youre maximising the market. While it might sound daunting it doesnt have to be, so here are some key things to know. What is refinancing?... Refinancing involves replacing your home loan with a new mortgage that (ideally!) gives you a better deal, whether through a lower interest rate or different loan features that you want. Your original loan is paid out by your new one, and the balance transferred. Whats involved in refinancing? When you refinance youre applying for a new loan, so you need to go through a similar process to when you got your first mortgage. Application, approval and settlement are all involved in refinancing. What do I need to do before refinancing? Know what youre getting: Make sure you know your current interest rate, what you still owe on your loan, your propertys value, what loan features you need, and any fees such as mortgage discharge or exit fees if they apply. Compare the market: Find out if theres a better deal by researching other loans and lenders. A mortgage broker can also help you do this, and theyll be able to ensure youre comparing apples with apples. Prepare for valuation: Just as your lender values your property when you first get your mortgage, your new lender will also need to value your property so make sure youre prepared to maximise your valuation. Paperwork: Youll need to re-do all the paperwork and show proof of income, outgoings, etc so gather up your pay statements, bank statements, credit card statements, tax certificates, proof of ID etc as these will all be needed if you go ahead. It takes time: While every lender is different, it can take some time to discharge a mortgage. Just make sure you allow ample time for the process to be completed by both your current and new lender. While refinancing is intended to save you money, there can be some costs to refinancing so make sure you do your sums to work out whether youll be better off in the long term. The best part about refinancing is that you dont have to do it alone. A mortgage broker can manage the process for you, from comparing other lenders and loans to completing the paperwork all the way through to settlement. Have you recently refinancing your loan? What do you think is important to know before going through with it?. If you found this article useful please share it using the buttons below.