Australian Credit Corporation | Property

Australian Credit Corporation

Phone: +61 2 8844 0100

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• Property
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• Loan service
• Mortgage brokers

19.01.2022 The RBA today left the cash rate unchanged at 1.50% I believe it will remain steady for the rest of 2018. Lenders have increased their interest rates due to increased cost of funding. Investors have been hit harder with higher interest rates combined with a softening rental market making their investment properties less profitable. If I could show you how to increase your income on a property by $20 per week, would it be worth a phone call? It's far simpler than you would exp...ect. I recently helped a client save 0.20% in interest on a $500k investment loan. This equates to increasing the rent by $20 per week, without upsetting the tenants. Please let me know if you, or anyone you know, would like more information.

17.01.2022 It is estimated that borrowers are paying $4.2 billion in avoidable interest on mortgage repayments according to industry data. With variable interest rates from 3.18% for owner-occupied loans and investment loans from 3.46%, it's well worth reviewing your loans to see how much you could be saving. An example is a new client currently paying an extra $500 per month ($6000/yr) in interest with her soon to be ex-bank.... ACC can guide you through the process of either getting a better rate with your current lender or moving your loan to one that has a better rate. Please contact us to see how much you could be saving on your loans.

15.01.2022 It's been a while since I've been able to say the RBA today adjusted the cash rate, it has been reduced by 0.25% One lender reduced their variable interest rate last week by 0.17% but as always this was for new clients only, we now wait to see how much they will pass on to existing customers With rates as low as 3.49% its worth reviewing your home loan interest rate to see if you could be saving money... Please let me know if you would like assistance or would like to discuss your lending needs

13.01.2022 Is a home loan offset account worth having? An Offset home loan is one that treats saving in your deposit account as money paid off your home loan. Fundamentally any money paid off your home loan is great as it saves you being charged daily interest on that amount of money.... Should you have Offset on your home loan? If you have borrowed money for an investment property you may not want to reduce the interest charged against the property especially if you also have a home loan on the property you live in. Money paid off the investment loan will reduce your tax deduction and is better paid off your own home. What is the cost of an Offset loan? Lenders have an annual fee for this type of home loan and generally a higher interest rate. You will pay an average of $600 more per year to have Offset on your home loan which includes the annual fee and higher interest rate. If you paid an additional $50 per month ($600/yr) off your $300 000 loan you will shorten the term of your loan by 1 year and 9 months which is a saving of just over $9000 on a 30 year loan. A basic home loan that has redraw is a better option when used correctly. Make sure you get the right information when looking for your home loan. Banks can only offer their products but brokers can best match your needs with any Bank or lenders offering and show you how to save money during the term of your loan.

11.01.2022 RBA rate cut The RBA today announced an out of cycle rate cut to a record low of 0.25% CBA has announced rate cuts too, but be aware, they aren't passing any of the cut to variable home loans rate only fixed-rate loans... The RBA today also announced $90 billion in cheap funding for 130 banks. What should you be doing about your loan? You could panic, but I'd suggest reviewing your long term lending needs by talking to your broker, or ACC....not your bank, ACC can see if you could save money by reducing the interest rate on your loan. You might also consider having some surplus for a "rainy day" Please let us know if we can assist you.

11.01.2022 Some reasons why we need brokers

09.01.2022 Do you own an investment property? Would your tenant be unhappy with a$10 or $20 per week rent increase? Would you like to know how you can earn more money from your investment property?... We can help make your property more profitable, call or send us a message to find out how.

07.01.2022 No doubt you've heard about the Banking and Financial Services Royal Commission which uncovered considerable issues in our industry some of which I raised concerns over when I first joined the industry in 1998 so agree changes need to be made. One change I disagree with is how brokers get paid, stopping upfront front and trail commission and a fee for service model adopted. While this has some merits in eliminating customers getting loans with lenders who pay more commission,... I feel the proposed changes will have a detrimental effect on competitiveness in the lending industry and ultimately give the big four, even more power to control the industry more than they currently do. Borrowers will be worse off as they will be limited in which lenders they can approach due to credit reporting concerns and cost will rise. If you have used a broker that helped you navigate your lending needs and would like to voice your concern please view this link from the MFAA - mortgage industry association www.brokerbehindyou.com.au Thank you in advance for your support Please let me know if you have any questions or need assistance with your lending needs

03.01.2022 The RBA today left the cash rate on hold at 1.5% Do you know ACC can help with lending for commercial properties, also with business lending - up to $100k unsecured, or even help you save money on your current home loan? Let us know how we can help you

02.01.2022 The RBA today reduced the cash rate by 0.25% making the official cash rate 1.00% With last months rate cut only taking effect on mortgage prepayments from last week there has been little time for borrowers to feel the benefit of reduced repayments., which only confirms the comments about "tough economic" times ahead. ACC can help you, or anyone you know, review their current loans to see if they could be saving money.