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Juan Jeffery

Phone: +61 458 341 021

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25.01.2022 Top Six Reasons why your home loan might be declined You’re ready to buy a home, but you can’t 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

22.01.2022 What caption would be best for this picture?

21.01.2022 We have noticed this trend with our business clients over the past 12 months and have assisted them with obtaining non bank lending from the Fintech and Private Fund sector. Contact us at AeFin (https://business.facebook.com/australianefinance/) or www.aefin.com.au if you want to know more on how we can assist with non bank finance.

20.01.2022 Why you should choose a mortgage broker over a bank For most people looking for a home loan, the choice is simple just head to the nearest bank and see what is available. On the surface, this seems like convenient and straightforward option, so why look for a mortgage broker when the bank is right there on the main street? Here are three things a mortgage broker will offer you that your bank wont: ... 1. Choice When you visit your bank manager to talk about a bank loan, the manager is going to offer you their latest products. The manager isnt going to tell you that a rival bank has an offer more closely streamlined to your circumstances. And a year down the track, the manager wont reward your loyalty by suggesting a new option tailored to your current circumstances. However, your mortgage broker has access to products from countless banks and lenders, so they will find the one that is most suited to your requirements. When your circumstances change, as you pay off your loan, your broker can suggest a different package. 2. Specialized assistance Bank employees are in the business of promoting the banks services which includes securing your loan. Every lender has their own method for approving or declining a bank loan, and you can waste a great deal of time trying to provide the correct application. Your broker already has an inside knowledge of how each bank assesses an application, so you have a better chance of being approved first time around. Your broker can also negotiate with the bank for policy exceptions to tailor the package to your individual specifications. You can also choose a broker who specializes in your particular loan requirements. For example, if you are purchasing a property investment, you will need a broker who understands all the financial issues of that type of loan. 3. Administrative support The mortgage broker will manage all the paperwork on your behalf and follow up with the lender, keeping you updated on the progress of the application. This saves you time and a great deal of stress, while providing you with one point of contact throughout the business of securing the loan. Ultimately, your mortgage broker is saving you both time and money by simplifying the loan application process and ensuring that you find the loan package most suited to the size of your deposit and your ability to make repayments. Contact us today if you want personalized advice about how to complete the loan application process and find the right loan package for your needs.

18.01.2022 Sharing a little bit of motivation for the day

17.01.2022 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 don’t 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.

17.01.2022 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

14.01.2022 Benefits of a mortgage offset account An offset account is a bank account linked to your home loan. Rather than accumulating interest within the account, the money in the offset account is offset daily against your mortgage, reducing the interest payable on your mortgage. For example, if you have $20,000 in your offset account and a mortgage of $400,000, you will only be charged interest on $380,000 rather than the full $400,000. This can drastically reduce the length of you...r mortgage and the amount you need to pay in the long term. Tax free interest As you are not earning compound interest from the money in the offset account, you are not liable to pay tax on that money. Instead you are increasing the equity in your property. Flexibility As the mortgage account is like any other transaction account, you can deposit and withdraw funds such as your salary without incurring access fees. As the offset amount is calculated daily, you can keep a lump sum in the account for emergencies while reducing interest on your loan. However, some lenders do place restrictions such as minimum transaction amounts and withdrawal fees which could end up costing more than the interest you save. Is the offset account for you? The people who benefit most from offset accounts are those who can keep a significant sum of money in an accessible account over the long term. If you are instinctively a saver, an offset account is preferable to having to pay tax on interest, as you are making significant gains through equity. It also gives you a flexible alternative to paying extra money directly into the mortgage, as you can still access the funds quickly and without penalty in case of emergency. Even having your salary deposited into your offset account ensures that for one day at least you will reduce the interest payable on your mortgage for that day. However, if you are only keeping a small minimum balance in the offset account, the interest savings will not be so significant. Talk to your mortgage broker or financial advisor about whether an offset account would be suited to your current circumstances. And before opening an offset account, make sure you are fully aware of any fees or conditions that may have a negative impact on the long term benefits. If you would like more information about how an offset account could work for you, contact us today for a personal appraisal.

09.01.2022 How to narrow down what you want in a home Before you can find the perfect home, you need to know exactly what you are looking for and as you may come across desirable homes that include only a few of the features on your list, you need to know which features are the most important to you. As a further complication, you will generally be working on this list with your spouse or partner, who may have different priorities to you! So how do you work out what you are looking ...Continue reading

03.01.2022 Did you know a lot of home owners overpay on their mortgage? Could a better deal put an extra $250+ per month back into your pocket? We offer a free Loan Comparison Service to see if switching could save you hundreds per month. Private message me today to get a free loan comparison!