Clear Home Loans in Campbelltown, New South Wales | Mortgage brokers

Clear Home Loans

Locality: Campbelltown, New South Wales

Phone: +61 451 534 726

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25.01.2022 An important message to our valued clients: Recently Westpac, along with a number of non-major banks increased their home loan rates independently of the Reserve Bank. The primary reason being that their "cost of funds" has gone up. In other words, its become more expensive for them to source funds, so they need to pass some of these cost increases onto their customers. This is nothing new, its happened many times before and will likely happen many times again in future.... Today, ANZ and CBA also increased their rates, with experts believing that a NAB increase is imminent. Thankfully, the rate increases are not that high, but they are increases nonetheless and will surely impact some of our clients budgeting. I have always been a firm believer in the "peace of mind" that comes with fixing at least a portion of my clients loans. These spontaneous increases are the reason why. If you would like to discuss your home loan in light of these rate changes, we are here to answer any of your questions. Warm regards Ehsan Haidary Clear Home Loans

25.01.2022 Good news for investors, APRA removes the cap on Interest Only lending, which should in theory lead to banks once again having a bigger appetite for this type of lending. Could this bring investors back into the market and push prices back up slowly? Time will tell...

24.01.2022 A number of my clients have purchased off-the-plan apartments and settled recently. Luckily, none of my clients have had short valuations. Always beware when you are buying something off-the-plan, as you are committing to a price TODAY, for something that could settle in 2-3 years time. Come settlement time, there is no issue if property prices have gone up (or remained stable), but when they've gone down, some people could get caught in a messy situation. Send us a PM if you... would like to know more. Cheers Ehsan https://www.facebook.com/9767089670/posts/10156240765544671/

22.01.2022 HERES A BASIC TIP TO PAY OFF YOUR MORTGAGE QUICKER! The effect of making additional repayments on your home loan can reduce your overall loan term substantially, and save you thousands over the course of your loan. Here's an example to illustrate:... You take out a 400k mortgage, over a 30 year term, and let's say your interest rate is 3.8%. If you pay the minimum repayment on your loan, then by definition, you will have the loan for 30 years. (Of course this minimum repayment has to adjust in time as the interest rates change, but for the purpose of the exercise, let's assume rates dont change). Your minimum monthly repayment in this example would be $1864. So in another words, if you pay $1864 every month, for 30 years, then you will pay your mortgage off exactly at the end of the 30th year. Here's the magical part: What would you need to repay monthly to finalize your loan is half the term? in 15 years. When I ask my clients this question, most assume that they would need to pay double the minimum repayment. Thankfully this is not the case. Interest is calculated on your daily balance, so when additional repayments are made, your balance drops and therefore the interest payable drops, and when the interest component of your repayment drops, more of the additional repayments goes towards principal reduction. So your loan balance drops at an accelerating rate. So what do you need to repay to finalise the loan in 15 years? The answer is $2918 per month. So if you can cover an extra $1054 (i.e not by doubling your repayment) you will HALVE your loan term. $2918 may be tough for some people, depending on your individual circumstances. But in a household with two incomes, if one of the partners can put their full wage towards the loan, and you can cover your living expenses with the wage of the other partner, then you could pay your mortgage off in as little as 5 or 10 years. Its not impossible. Using the example above, if a household was able to pay $1000 every week into their mortgage, the loan would be finalized in 11 years! A mortgage should never feel like a death sentence. It shouldn't be hanging over your head for 30 years! Push yourself at the start, and enjoy life once its paid off. Talk to us for a solution tailored to your individual circumstance. Ehsan Haidary Clear Home Loans

22.01.2022 Don't leave an item as important as your Mortgage off your to-do list. If you currently have a home loan, the idea of refinancing to a better deal may seem daunting. But in the hands of a good Mortgage Broker, it can be very simple. Talk to us if you'd like a free assessment of your current position, to see if you'd be better off switching banks.

20.01.2022 Those with a mortgage, please take note of the Incredible effect of paying $100 more per week on your home loan! The first image below shows an average sized Australian home loan being repaid over 30 years with a weekly repayment of $440. But look closely at the magic that takes place in the second image, when the repayments are increased by approx $100pw. The loan term drops by a whopping 9 years, so that the loan is repaid in 21 years, not 30. ... Of course we are basing this on a 4% interest rate, and in reality, interest rates will change over the loan term. The purpose of this exercise is to show you the incredible effect of additional repayments. Regardless of whether rates go up or down, the positive effect of making additional repayments will always remain. My clients are always amazed by this when I show them. Because your interest is based on your balance outstanding, even a relatively small increase in repayments can have a substantial long term effect on how quickly your loan is paid off. The other thing which cannot be ignored also from the two images below, is the enormous difference in overall interest paid over the term - Almost 100k less!! Simply by paying an extra $100 per week. Talk to us if you'd like to know more.

20.01.2022 "The Reserve Bank has cut its official interest rate by 0.25 percentage points to a new record low of 1.25 per cent" https://www.msn.com//rba-announce-rates-decisi/ar-AAClRXF

20.01.2022 Great news for people looking to borrow money to buy a house! The Australian Prudential Regulation Authority (APRA) has today issued a notice to Australian banks, stating that the minimum 7% "floor rate" (aka "assessment" rate) no longer has to be applied. Until now, when a bank checked to see how much a person can borrow, they "stressed" the proposed loan repayments to ensure the borrower can still afford their repayments even if interest rates went up to 7%.... This was a policy in place to safeguard borrowers against financial hardship caused by a sudden increase in interest rates. So a "buffer" of some sort SHOULD be applied between the actual interest rate, and the assessment rate, but there has been some noise recently suggesting that such high assessment rates made it overly difficult for people to borrow. APRA have relaxed this policy such that banks now only need to apply a 2.5% buffer on top of the applicants actual rate. So if the actual loan rate is 3.69%, then affordability will be checked based on 6.19%. (I.e 3.69% + 2.5%) This allows more people to borrow the money they need to buy the property they want. For the average consumer, this simply means that you could be getting the keys to your own home sooner. Talk to us if you'd like to know more about how these proposed changes could affect you.

18.01.2022 Hello everyone. I hope you're all keeping safe. We have started to receive some communication (albeit not very clear and concise) about how the banks are going to handle borrower repayments for those whose incomes have been affected by the Covid-19 virus. Based on the information we've recieved from a handfull of lenders, it looks like the banks are willing to work with their customers and possibly grant a reduced or suspended repayment period.... Understandably, they can't do this for everyone and I would imagine there would be a selection criteria. If you are experiencing any difficulties, please feel free to call your bank direct and request to talk to their 'hardship' team. Alternatively, you can always call myself. The team at Clear Home Loans are here to help whichever way we can. Stay safe and look after each other. Ehsan Haidary Clear Home Loans

18.01.2022 Dont leave an item as important as your Mortgage off your to-do list. If you currently have a home loan, the idea of refinancing to a better deal may seem daunting. But in the hands of a good Mortgage Broker, it can be very simple. Talk to us if youd like a free assessment of your current position, to see if youd be better off switching banks.

15.01.2022 A sign of the times, as borrowing gets more difficult....

15.01.2022 Looks like the party is over...

14.01.2022 Fixed VS Variable rate borrowing. This is a discussion that we have with each and every one of our clients. Here is a quick run down of what the two rate options are, and how you can use them to best suit your needs.... - Fixed rate borrowing is where the interest rate is locked in for a certain period of time, say 2 years or 3 years. During this time, borrowers will not see the benefit of a general rate reduction, but they are also insulated against any rate rises. In short, borrowers have the PEACE OF MIND of knowing that their repayments will not change during this period. - Variable rates on the other hand, fluctuate with market movements, for example when the RBA changes the cash rate, OR when the banks deem a rate change as necessary. These rate changes can happen at any time without notice, and without consent from the borrower. - Each interest rate type has it's advantages (and disadvantages): * Fixed rates offer "security" and peace of mind, as mentioned above . But this security comes at a price. A loan paid out during the fixed rate period, either by sale of the house or a refinance to another bank, incurs large penalties. Often in the thousand of dollars. Also with fixed rates, there are limitations with making additional repayments. This may serve as a roadblock for someone who wants to pay their loan off much quicker by making additional repayments above the minimum required repayment. *Variable rates allow you to make unlimited additional repayments, and they allow you to completely payout the loan without penalty, but a borrower will not be insulated from the risk of interest rate movements. - A good solutions that we offer our clients, is to consider fixing a portion of the loan, and leaving a portion variable. I.e splitting your loan. This way, you can make additional repayments into the variable portion and at least have the partial security of a fixed component that won't increase in rate, if there is a general interest rate increase. Talk to us if you'd like to delve further into the options, to see which suits you most.

12.01.2022 Great article regarding the expected price movements in Sydney. The opinions of 5 senior economists. https://m.facebook.com/story.php?story_fbid=10155100171864671&id=9767089670

12.01.2022 Thinking about changing jobs, but you're worried about how that may affect your loan application? At Clear Home Loans, we have access to a number of well known, reputable lenders that will accept your income even if you just started a new job yesterday. Talk to us if you'd like to know more about how this works.

12.01.2022 Thinking about changing jobs, but youre worried about how that may affect your loan application? At Clear Home Loans, we have access to a number of well known, reputable lenders that will accept your income even if you just started a new job yesterday. Talk to us if youd like to know more about how this works.

11.01.2022 1 in 4 new homes purchased in NSW are purchased by Chinese nationals. The recent increases in tax for foreign investors does not seem to be deterring the Chinese. So with the demand not really slowing, could this mean prices will continue to grow?

10.01.2022 The reserve bank has cut the cash rate down to 0.75%!! The lowest in history.

09.01.2022 Want instantaneous access to your funds whilst its simultaneously reducing your interest commitments? An OFFSET account is a fully transactional account, and like any other transactional account, you have immediate access to your money via ATMs, eftpos, online (VISA), etc. The added benefit is that its linked to your loan account, such that any funds is this account, OFFSETS the interest on your home loan. For example, if you have a 500k loan, but you have 50k in the offset... account, you will only be charged interest on a 450k. Have your wages credited into the offset account and you get the instantaneous benefit as soon as you get paid. The second your wages hit the offset account, its as though its gone straight into the loan account. This saves you a lot of money in the long run. This is why people will tell you that its better to make repayments weekly rather than monthly. That is, a more frequent repayment is better because interest on your mortgage is calculated daily, so the quicker your money gets transferred into the loan account (or the offset), the more you save. Talk to us if you want to know more.

09.01.2022 Interest only repayments VS Principal and interest. IO is a useful tool for investors as it improves their cashflow, given the minimum contractual repayment is less. Furthermore, investors are not often overly concerned with reducing their loans because they may have tax benefits for keeping their loan balance high (negative gearing). For this reason, they may be comfortable with a loan that isnt reducing in balance (principal) with each repayment. Owner occupiers dont have a...ny tax benefits for paying IO. For this reason, it often makes no sense for an owner occupier to pay IO. Which is primarily the same reason why banks are making IO lending harder for owner occupiers. An owner occupier seeking an IO loan can often be an indication of affordability issues. The tax advantages and cashflow improvements associated with IO lending, comes at a price. With IO, a borrower will pay more interest over the loan term for two reasons, 1. Given the loan balance isnt reducing, the interest which is calculated daily, is calculated on a higher loan balance. 2. The interest rate can be substantially higher. Talk to us if you want to know more about an ideal way to set up your loan. We always recommend that you cross-check your proposed loan setup with your accountant when it comes to investment properties and corresponding tax implications.

08.01.2022 Dear valued client, If you watch TV, listen to the radio or are on social media, then there is a good chance that you have heard about the recent Royal Commission into Banking (RC) outcome and how it may impact Mortgage Brokers and YOU, the consumer. Here is a quick summary of what Commissioner Hayne has recommended relating to Mortgage Brokers and how this will affect the lending industry and those who currently have, or are planning on taking out a home loan.... - Until now, Mortgage Brokers have been paid an upfront commission by the banks. Our service, has essentially been completely free to the borrower. The RC has recommended that in the near distant future, banks no longer pay us, but YOU the consumer pay. - Around 60% of home loans taken out in 2018, were done so with the help of Mortgage Brokers. So clearly, the consumers value what we do. - The problem with the RC proposal of the consumer paying for the service, is that it will inevitably push people seeking a loan to go to the banks direct. Mainly the 4 major banks that have a very extensive branch base. - This will inevitably drive Mortgage Brokers out of the industry altogether. - When that happens, the average consumer no longer has easy access to the extensive number of smaller lenders. To give you an idea, Clear Home Loans has access to around 50 lenders! A number of the excellent, low rate, 2nd tier banks, non-bank lenders, etc that have always kept the big four on their toes, will no longer be around. - This reduced competition will give the four majors the power to set interest rates and fees as they please, and get away with it. - Mortgage Brokers have since their inception ENCOURAGED COMPETITION. A recent KPMG analysis showed that brokers have helped slice interest rates by around 20% - That's a massive saving for the consumer/borrower. - Another thing to consider is SERVICE - When you are forced to deal with banks direct, with little competition, service levels will drop. Please remember that banks shut shop at 5pm. Most of our clients will testify that we take your calls late at night, or on the weekends. We don't stop working when the banks shut for the day, or for the week. - Ironically, an investigation into Banking misconduct, has turned the banks into the winners, and approx 20,000 small business owners (brokers) and the average consumer into the losers. You need evidence of this, just look at how much the major banks shares went up this week, when the RC report was released. - Without Mortgage Brokers, and with reduced competition, borrowing will become harder - Harder than it already is! The domino effect of this could hurt the real estate industry, as well as the construction industry. If you want to help us, and indirectly yourselves, please sign the petition below: https://www.change.org/p/federal-treasurer-josh-frydenberg- Thanks Ehsan Haidary

07.01.2022 Why use a broker? Here's a few reasons: - Ask yourself this, if a fully qualified mechanic offered to service your car for free, would you still service it yourself? Clear Home Loans do not charge you a fee, we get paid by the bank. So you have an expert by your side through the whole process, and you don't pay a cent for it.... - After reading the above point, your first reaction might be to think there's a catch. There isn't. You cannot get a better deal by dealing with the bank direct. Through a broker, you get the same rate and the same fees. - When you walk into a CBA branch (for example), you will be exposed to one banks policy, one banks set of interest rate, fees, etc. When you deal with an experienced broker, you are effectively walking into 50+ branches at the same time. Because that's the number of lenders we have access to - including CBA :) Let us do the running around for you. - Brokers have a VERY personal incentive to keep you happy. In our industry, there is something called a "commission clawback" - In short, if we do your loan through a bank and you're not happy, then naturally you will leave that bank. If you do leave within 18 months of your loan settlement, we have to pay every cent of commission back to the bank. So it would be "business suicide" if we do not keep our clients happy. Also, when you're happy, you will tell your friends and family about us, and this is how we grow :) - We don't shut shop at 5pm. Call us on the weekend, call us after hours, and we will answer our phones. With a good Broker, you have an expert on your team, always available to answer your questions. Contact us if you have any questions about your existing loan, or a proposed purchase. Regards Clear Home Loans

07.01.2022 Most of our clients are fascinated by these by numbers. Just a simple reminder of the MASSIVE impact 'additional repayments' as small as $100p/w have on the term of your loan.

06.01.2022 Often I talk to clients who make a claim that "it used to much easier to borrow in the past".... Well this article touches on just a few of the changes made this year, which make it harder for people to borrow money. Reduced lending ratios for investment lending and interest only lending, higher interest rates for investors and general higher "living expenses" being factored into the banks assessment calculators have made it tougher for all borrowers. The truth is, borrowing has progressively become tougher and tougher, since the 2008 Global Financial Crisis. Talk to your mortgage experts at Clear Home Loans, we have access to over 50 lenders, to see how we can help.

06.01.2022 The RBA today held the cash rate at 1.5%. However, if you want to take 5 mins and read the article below, you will see that lenders can (and sometimes need to) increase their rates independently of the reserve bank. This is mainly because banks obtain their funds from multiple sources (domestic and international), and when the cost of obtaining these funds increase, banks often pass some of those costs onto their home loan customers. ... The article below suggests that a rate increase is imminent. If you have fixed a portion of your loan, great, if you haven't, now may be a good time to consider it. http://www.abc.net.au//very-high-chance-of-an-inte/9935456

06.01.2022 Wishing everyone a Happy Easter. Stay safe and enjoy some quality time with your family... CLEAR HOME LOANS

05.01.2022 Why use a broker? Heres a few reasons: - Ask yourself this, if a fully qualified mechanic offered to service your car for free, would you still service it yourself? Clear Home Loans do not charge you a fee, we get paid by the bank. So you have an expert by your side through the whole process, and you dont pay a cent for it.... - After reading the above point, your first reaction might be to think theres a catch. There isnt. You cannot get a better deal by dealing with the bank direct. Through a broker, you get the same rate and the same fees. - When you walk into a CBA branch (for example), you will be exposed to one banks policy, one banks set of interest rate, fees, etc. When you deal with an experienced broker, you are effectively walking into 50+ branches at the same time. Because thats the number of lenders we have access to - including CBA :) Let us do the running around for you. - Brokers have a VERY personal incentive to keep you happy. In our industry, there is something called a "commission clawback" - In short, if we do your loan through a bank and youre not happy, then naturally you will leave that bank. If you do leave within 18 months of your loan settlement, we have to pay every cent of commission back to the bank. So it would be "business suicide" if we do not keep our clients happy. Also, when youre happy, you will tell your friends and family about us, and this is how we grow :) - We dont shut shop at 5pm. Call us on the weekend, call us after hours, and we will answer our phones. With a good Broker, you have an expert on your team, always available to answer your questions. Contact us if you have any questions about your existing loan, or a proposed purchase. Regards Clear Home Loans

05.01.2022 "This is a fantastic win-win for CBA but a massive lose-lose for consumers regardless of whether or not they use a mortgage broker. CBA either acquires a new customer with zero acquisition cost, or it receives a new fee and massively decreased competition, so it can return to the days of four lenders in Australia. Its a great deal for the bank. " These are the words of the Mortgage and Finance Assoc of Aust (MFAA) CEO Mike Felton, in response to the comments made by Commonwe...alth Bank CEO Matt Comyn yesterday in front of the Royal Commission (see full article below). In summary, CBA are considering a "fee-for-service" model whereby the borrower/applicant pays the Mortgage Broker fees, not the bank. The experts believe that this will result in two things: 1. Borrowing becoming more expensive for the consumer as they would have to cover the Brokers bill (until now, the banks have paid for this) 2. Reducing competition as more consumers go to banks direct to avoid the broker fees - ultimately, this gives larger banks (like the CBA) more power to increase interest rates and fees (without opposition). As a Mortgage Broker, Clear Home Loans have access to over 50 lenders across the country - which means that as one of the thousands of brokers across the country, we play a part in keeping the BIG banks on their toes. We propose the products of 50 lenders to our clients, with ease - So the big banks, have the constant threat of competition. What CBA is proposing, will mean more money out of consumer pockets, and less brokers, hence less competition (and this removes the downward pressure on rates/fees). The only winner from this move, would be the CBA shareholder. For those that have used the services of Clear Home Loans, Iam certain you have seen the value that a good broker can add. We compare the lenders for you. We do most of the running around on your behalf (to get the loan approved and settled), and best of all, we do it all for free (unless of course, CBA get their way) Please feel free to call us if you'd like to know more. https://www.theadviser.com.au//38508-industry-slams-self-s

03.01.2022 Hello everyone. I hope youre all keeping safe. We have started to receive some communication (albeit not very clear and concise) about how the banks are going to handle borrower repayments for those whose incomes have been affected by the Covid-19 virus. Based on the information weve recieved from a handfull of lenders, it looks like the banks are willing to work with their customers and possibly grant a reduced or suspended repayment period.... Understandably, they cant do this for everyone and I would imagine there would be a selection criteria. If you are experiencing any difficulties, please feel free to call your bank direct and request to talk to their hardship team. Alternatively, you can always call myself. The team at Clear Home Loans are here to help whichever way we can. Stay safe and look after each other. Ehsan Haidary Clear Home Loans

03.01.2022 With the final round of enquiries coming up, we will soon see the final recommendations that arise from the Royal Commision into Banking. Already, substantial bank policy changes have been introduced, which have made borrowing money, a lot more difficult for consumers. The good news is that the changes being made have a strong focus on protecting the consumers from unsuitable loans. If you are thinking about buying a property, refinancing your existing loan, or just want an onligation-free 'health check' of your existing loan, talk to the experts at Clear Home Loans.

02.01.2022 With yesterday's Reserve Bank rate cut, it's good to see that all 4 of the major banks have passed on the full 0.25% cut on their variable rate products. For both investment and owner occupied products. A number of the smaller lenders have also announced that they are passing on the full cut to their customers, which is great news for borrowers. If you have any questions about your existing loan, please don't hesitate to contact us.

01.01.2022 Some good news for our valued clients!! The reserve bank has reduced the cash rate to a record low 0.25% in today's out-of-cycle meeting. This has been done in an attempt to stimulate the economy during the Covid-19 virus. We are yet to see how the banks respond. Hopefully they pass on the full 0.25% interest rate cut to their customers.... We would like to take this opportunity to advise our clients that the team at Clear Home Loans are here to answer your questions about anything finance related. Please stay safe, and where you have the means to do so, remember to look after those that are most vulnerable amongst us. Regards Ehsan Haidary

01.01.2022 Due for a break from the daily grind? Consider using the equity in your home for your next holiday. A personal loan will cost you somewhere between 10-15% p.a in interest depending on which lender you use. When you use the equity in your home, you're effectively borrowing at an interest rate of around 3.7% (once again depending on lender and product).... We all need a break to recharge ourselves, so why not minimise the costs to get away. Talk to us if you'd like to know more.

01.01.2022 GUARANTOR LOANS. A loan type that we pride ourselves in promoting. Why? Because we like to see our clients save money. A lot of money!... A security guarantor loan allows the borrower(s) to purchase a property without a deposit. In the place of a cash depsosit, a family member (usually parents) offer their property as a 2nd security. The unfortunate reality is, with today's high property prices, and with cost of living constantly increasing, it's not easy to come up with a 5% deposit, let alone the 20% needed to avoid Lenders Mortgage Insurance (LMI). A guarantor loan will allow you to get into the property market sooner, and simultaneously save thousands of dollars by avoiding LMI. Contact us if you'd like to know more.

01.01.2022 With yesterdays Reserve Bank rate cut, its good to see that all 4 of the major banks have passed on the full 0.25% cut on their variable rate products. For both investment and owner occupied products. A number of the smaller lenders have also announced that they are passing on the full cut to their customers, which is great news for borrowers. If you have any questions about your existing loan, please dont hesitate to contact us.