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Crossover Finance

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24.01.2022 How to Boost Your Borrowing Capacity Are you looking to buy a new home or an investment property? One of the most important steps is understanding how to maximise your borrowing capacity. Here are a few quick ways to improve yours: Cut back on spending - your capacity to borrow is based on your income minus expenses. Reducing silly spending will help tremendously.... Cut your debts - things like car loans and credit cards can significantly reduce your borrowing. Tidy up your credit score - make sure there are no red flags and you have a healthy credit history. Things like paying bills on time is important. Avoid easy money traps - payday loans or buy now pay later, can hit your credit score and also look bad from the lenders’ perspective. See more

22.01.2022 Open Banking: What You Need to Know What is it? Open banking began on July 1st and is essentially a new and improved method of providing and sharing your financial data freely between multiple banks or institutions.... Consumer Advantages The Rundown o Transfer your details between banks o Easily compare products and services to make better-informed decisions o Fast-track sign up opportunities from competitors o Promotes healthy competition within the sector ultimately allowing access to better deals! Things you should know o Keeping your information safe Security is the utmost priority regarding open banking and only institutions you approve of will have access to your data. o Institutions will need to be accredited for open banking to participate in the new systems and processes. o Open banking is free. o Eligible data types You may request data from transaction, deposit accounts and joint accounts as well as, credit and debit cards. Personal, home and investment loans are also included. Open banking is something that’s about to change the banking and finance industry for the better! Check it out and get on board today!

21.01.2022 Property Prices Start Moving Higher The latest CoreLogic data for September is out and has seen six of the countries eight major capital cities increase in value. In September, dwelling values increased in Perth (0.2%), Canberra (0.4%), Hobart (0.4%), Brisbane (0.5%), Adelaide (0.8%), and Darwin (1.6%).... Values in Sydney fell by just 0.3%, while importantly auction clearance rates continue to remain strong. The lowest in house prices during September continues to be in Melbourne, on the back of the second set of lockdown measures. Interestingly, the cumulative loss to date during the COVID period has been just 2.8% according to CoreLogic, however, there are many areas that are higher than their pre-COVD levels.

07.01.2022 Property Prices Remain Steady Property prices across the country continue to remain steady despite Victoria going back into stage four restrictions. As a result, Melbourne has been the weakest market over the past month, with values falling -1.2%. However, prices are still 6.6% higher than they were this time last year.... Across all the capital cities, prices have weakened by -0.6% over the month. However, over the course of the year, values are still slightly higher - up 0.4%. So far, the large price falls that we’ve been hearing about just aren’t happening, with most homeowners simply riding out the storm.

01.01.2022 3 Reasons to Refinance 1. Record Low Rates - Mortgage rates are now at the lowest levels we’ve seen in history. By refinancing you could access a lower interest rate and save thousands of dollars a year. 2. Get a Cashback Rebate - Worried about the costs of changing home loans? Some lenders will give you a rebate which could cover any out-of-pocket costs. This can really help if you have a fixed-rate loan and want to change.... 3. Free-up Cash - If you’ve got equity in your home or investment property, you might be able to access it to invest in another property and grow your portfolio.