Derwent Finance in Hobart, Tasmania | Financial service

Derwent Finance

Locality: Hobart, Tasmania

Phone: +61 3 6144 9669

Address: 19 Macquarie Street 7000 Hobart, TAS, Australia

Website: https://www.derwentfinance.com.au/

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25.01.2022 What would you say if we told you that you could potentially increase your rental returns by up to 30% simply by ticking a box? Youd probably call us barking mad. But according to research by Domain Group data, median asking rents for pet-friendly properties are higher than for homes that dont allow pets in almost every capital city. Take Melbournes inner city, for example, where back in 2019 just 1% of apartments allowed pets. The median rent for pet-friendly apartmen...Continue reading

25.01.2022 The dreaded and controversial stamp duty tax could soon be a thing of the past, with calls for it to be abolished gaining momentum.

25.01.2022 Property ranked as best investment option right now by experts: survey Youve heard the saying safe as houses, right? Well, it seems that old adage may ring true even in the current pandemic, with many of the nations top economic experts saying thats where theyd put their money right now. A Finder survey asked 28 leading experts and economists to weigh in on future cash rate moves and other issues related to the state of the Australian economy....Continue reading

25.01.2022 Youve probably heard the federal government is giving $25,000 grants to eligible Australians looking to build or substantially renovate their homes. Today well look at what that means for first home buyers when combined with state and territory schemes.

23.01.2022 You might have heard that the federal government will give eligible Australians $25,000 to build or substantially renovate homes as part of the new HomeBuilde scheme. Today well look at who exactly can qualify for the initiative.

22.01.2022 Goodbye stamp duty? The dreaded and controversial stamp duty tax could soon be a thing of the past, with calls for it to be abolished gaining momentum. The Property Council of Australia is the latest body to add their voice to the chorus this month after both the NSW and Victorian state governments ramped up calls for stamp duty reform....Continue reading

21.01.2022 Want to buy your first home with a 5% deposit and save up to $10,000? On your marks, get set, go! The race is on for limited spots in the federal governments First Home Loan Deposit Scheme, which kicked off again on July 1. The scheme allows eligible first home buyers with only a 5% deposit to purchase a property without paying for lenders mortgage insurance (LMI) which can save you up to $10,000. But heres the catch: only 10,000 spots are available this fina...ncial year. That might sound like a lot but 3,000 spots went in the first 10 days last time. WHAT EXACTLY IS THE FIRST HOME LOAN DEPOSIT SCHEME (FHLDS)? Usually, first home buyers with a deposit of less than 20% have to fork out for LMI when taking out a home loan. But under the federal governments FHLDS, eligible first home buyers with only a 5% deposit can purchase a property without having to pay for LMI. Now, its important to note this is not a handout its a government guarantee to help first home buyers break into the property market with a smaller deposit. But the good news is that it is available alongside other state and federal government first home buyer schemes that are currently running. More details on eligibility and property price caps can be found on our website! - www.derwentfinance.com.au LET US RUN YOU THROUGH THE DETAILS If youre thinking about purchasing your first home soon and are considering applying for this scheme give us a call today. - Ph: 03 6144 9669 While 10,000 spots might sound like a lot, the starters gun has already gone off and hundreds of first home buyers could apply for the scheme every day in the first two weeks alone.

20.01.2022 YES! We are still taking new clients on before Christmas. You can contact us on 03 6144 9669 or at [email protected] Monday to Saturday!

20.01.2022 We understand that things are a little different this Easter, but from your team, at Derwent Finance we wish you a Happy Easter. Keep your traditions alive but stay home.

20.01.2022 Afterpay day is here. A day of sales from retailers through Afterpay. Here is a reminder on what Afterpay can do to affect your loan application: While there (generally) arent any credit report checks in the Afterpay approval process, its important to note that Afterpay (and its competitors such as ZipPay) are still credit liabilities that need to be disclosed when applying for a home loan.... And with the banks very stringent on who they lend to at the moment, your efforts to obtain a home loan could be hampered if youve racked up quite the Afterpay bill. So next time youve loaded up your online shopping cart at 2 in the morning, ask yourself: how will this look on my loan application? Whats everyones thought on this? Leave a comment below

19.01.2022 REVIEW TUESDAY Taking the stress out of home loans is exactly what we do best. We are still taking on new clients! ... Contact us on 0361449669 or email us at [email protected]

19.01.2022 Happy Birthday Emmanuel Not only is Emmanuel a fantastic Mortgage Broker, but he is also an incredible mentor to the staff here at Derwent Finance.

18.01.2022 We have had another record month in all areas here at Derwent Finance. But more importantly, we have had another month of very happy clients! We love what we do! Have a great weekend! We are available to speak to Saturdays between 8 am and 5 pm on 0361449669 or at [email protected]

18.01.2022 Widely forecast by economists and the market, the Reserve Bank of Australia (RBA) has decided to hold the official cash rate at 0.25 per cent, where experts expect it to stay for a few years. RBA Governor, Philip Lowe has stated that The global economy is experiencing a severe downturn as countries seek to contain the coronavirus. However, with infection rates on the decline in many countries, restrictions easing, and fiscal packages being introduced, conditions in financia...l markets are showing improvements. Mr Lowe then focused on the state of the Australian economy, commenting that we are experiencing the biggest economic contraction since the 1930s, and that the outlook, including the nature and speed of the expected recovery will depend on the confidence that people and businesses have about the health situation and their own finances. One thing that is for certain, The RBA will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 2-3 per cent target.

17.01.2022 R U OK? Were here for you, and heres how you can support others. 2020 hasnt been an easy year for many Aussie households and businesses, which makes today an important one to check in on one another. COVID-19 and associated lockdowns have placed all sorts of new pressures on families and businesses across the country this year.... In fact, more than 1.5 million Australians are currently suffering from mortgage stress the equivalent of 40% of households. With today (September 10) marking R U OK? Day 2020, first and foremost we wanted to touch base, check-in, and see whether youre doing ok. If not, please know that were genuinely here to help any way we can, including if you simply need someone to listen to you right now. And if everything is fine and youre doing a-ok, well, perhaps you know someone in need of a shoulder to lean on and an ear to hear them out. Theres more to say after R U OK? This year the key R U OK? message is theres more to say after R U OK? Which is great, because simply asking someone R U OK? without genuine thought, care and time can sometimes risk coming across as a platitude. Fortunately, the team at R U OK? has compiled a handy list of tips and more subtle questions you can ask instead, as well as a series of follow-up questions. The tips include making sure youre in a good headspace yourself relaxed, ready to listen, and with ample time to give while also being in a comfy and private place. Suggested questions include simply asking How are you going?, Whats been happening?, or You seem less chatty than usual. How are you going?. R U OK? encourages you not to rush the person, and show that youve listened by repeating back what youve heard (in your own words), and asking if youve understood them properly. You can then follow-up with questions such as How would you like me to support you?, or Whats something you can do for yourself right now? Something thats enjoyable or relaxing?. And importantly, dont just ask them on R U OK? DAY. Set a reminder in your phone or on your calendar to check in again with them in a couple of weeks or, if theyre really struggling, sooner. Feel free to reach out to us! We like to think of ourselves as more than just your broker who you turn to when you need a loan but also a friend you can turn to in times of need. So if youre not feeling OK today, tomorrow, or next month, then feel free to give us a call whenever you need. Were always here to listen and help in any way we can.

16.01.2022 Applications now open for $25,000 HomeBuilder grant in all states Its been two months since HomeBuilder was first announced, and Im sure many of us spent a bit of that time dreaming about an extra $25,000 to spend on a reno or new home. The good news is grant applications are now officially open. All states have now opened application channels (see below) for the federal governments new HomeBuilder grants, with ACT the only government yet to provide an application form (ho...Continue reading

16.01.2022 Stamp duty: two of the most dreaded words in the world of property and finance. Fortunately, NSW and Victoria have unveiled some big changes to the inefficient tax this week, and there’s hope it’ll inspire other states to review their own stamp duty arrangements. Would you like to see some changes with Stamp Duty here in Tasmania?

15.01.2022 $1 lenders mortgage insurance for eligible first home buyers. Youve probably heard something along the lines of you need a 20% deposit to buy a home, right? Well, not necessarily. Today well look at two options available to eligible first home buyers, including a $1 lenders mortgage insurance offer thats just been launched. Now, to be fair, that 20% deposit figure quoted by your uncle Barry wasnt plucked out of thin air. Barrys just a little behind the times (as a scro...ll through his Facebook feed would attest). Let us explain. In the past, first home buyers typically had to save a 20% deposit to avoid paying lenders mortgage insurance, otherwise known as LMI. Now, this insurance isnt to protect you. LMI is to protect the bank against any loss they may incur if youre unable to repay your loan (because they see first home buyers with less than a 20% deposit as higher risk). The problem is that LMI isnt cheap. For example, if you wanted to purchase a $600,000 property, but only had a 15% deposit ($90,0000), youd likely have to pay about $6000 in LMI. But since the start of the year, two options to avoid paying thousands of dollars in LMI have emerged for eligible first home buyers: the first being the federal governments First Home Loan Deposit Scheme (FHLDS), and more recently, St Georges $1 LMI offer. Lets start with St Georges $1 LMI announcement Basically, LMI will be reduced to only $1 for eligible first home buyers with a Loan to Value Ratio (LVR) up to 85%. In other words, its for first home buyers who have a deposit between 15% and 20%. Here are a few other important eligibility details: The LMI purchase must be for your first home loan and for your first property (however for joint applications, only one applicant must be a first home buyer). You must be the owner-occupier of the property and make principal and interest repayments. The offer is available on loans up to $850,000 (with a 15% deposit, this equates to a $1 million property value, which is much higher than the FHLDS below). Only one property can be financed per application. There are no income caps. The first home loan deposit scheme The federal governments scheme allows eligible first home buyers with only a 5% deposit to purchase a property without paying for LMI which can save you up to $10,000. But heres the catch: only 10,000 spots are available this financial year. That might sound like a lot but 3,000 spots went in the first 10 days last time. There are a few other important eligibility details to consider here, too, including: Property price caps for different cities and regions across the country (ranging between $400,000 to $700,000 in capital cities). Income caps (singles $125,000, couples $200,000). For couples, both need to be eligible home buyers.

14.01.2022 Looking to refinance your home loan? Heres how to prepare for the valuation When you refinance to try and get a better deal on your home loan, the lender youre applying with will arrange a valuation to estimate what your property is worth. And its important to be prepared. Thats because a survey by an online lender* revealed one in seven home owners were unsuccessful in refinancing their mortgage because the value of their property had fallen. ... Here are our top four tips for getting ready. 1. Spring clean! Whether you do it yourself, or hire professional cleaners and landscapers, make sure your houses interior and exterior are looking spick and span. 2. List your propertys features: Compile a list of your propertys best features and feel free to give it to the valuer to keep, just in case they miss those newly-installed solar panels. 3. Local community developments: Provide a second list of any exciting nearby community developments underway, such as a public transport hub or a you-beaut bike path. 4. Prepare your documentation: If you have a copy of your building plans, make them available to the valuer. Also have ready info on council rates notices and/or land tax valuations. If youd like more info on whats involved in a valuation when refinancing, phone 03 6144 9669, email [email protected] or DM us. *Source: State Custodians #DerwentFinance #HomeLoans

13.01.2022 LESSON MONDAY If you’re looking at buying your first home, you’ve probably heard the term ‘lenders mortgage’ or ‘LMI’ but what is it and do you need it? LMI is Lenders Mortgage Insurance. ... Lenders Mortgage is an insurance policy that protects the lender from financial loss if the your circumstances change and you can’t afford to meet their home loan repayments. Different lenders have different rules about when lenders mortgage is required. If you would like to speak to one of our Mortgage Brokers or source some more information, please don’t hesitate to contact us on (03) 6144 9669 or at [email protected] and our team can assist you

13.01.2022 So, whos eligible for the $25,000 HomeBuilder scheme? You might have heard that the federal government will give eligible Australians $25,000 to build or substantially renovate homes as part of the new HomeBuilder scheme. Today well look at who exactly can qualify for the initiative. The $680 million program, which is part of the federal governments economic response to the coronavirus pandemic, aims to support more than 1 million builders, painters, plumbers and electrici...Continue reading

12.01.2022 Homeowners refinancing in record-high numbers: explore your options Homeowners in record-high numbers are taking advantage of reduced interest rates and competitive refinancing offers. Are you ready to take the leap? When times are tough, the belt gets tightened. And weve seen that play out across the country in a big way recently, with the number of Australian families who refinanced their mortgage in May the highest on record, according to the latest figures from the Austr...alian Bureau of Statistics (ABS). In fact, 33,712 Australians refinanced a whopping $15 billion worth of mortgages in May. To put that into context, before COVID-19 struck, that monthly figure floated around the $10 billion to $11 billion mark. Anecdotally speaking, the recent 50% increase in refinancing sounds about right to us. Weve been flat chat over the past few months helping families refinance their home loans and save thousands of dollars in annual interest repayments. WHY ARE SO MANY PEOPLE REFINANCING? First and foremost, the economic squeeze brought on by COVID-19 has made people stop and take stock of where they can make savings in their family budget. And one possible way to do that is by refinancing, as Australian home loan rates have never been lower. Thats because, on top of the Reserve Bank of Australia (RBA) dropping the cash rate to a record low, lenders are currently competing hard for your business by offering never seen before interest rates. ABS Chief Economist Bruce Hockman further explains: The value of existing owner-occupier loans refinanced with a different bank [in May] was by far the highest on record as borrowers responded to reduced interest rates and refinancing offers. SO HOW MUCH CAN YOU SAVE BY REFINANCING? Well, thatll depend on your individual circumstances and a number of other factors, including how big and old your loan is. But to give you a lower-end-of-the-scale example, a recent RBA study found that for loans written four years ago, borrowers are charged an average of 40 basis points higher interest than new loans. For a loan balance of $250,000, this difference implies an extra $1,000 of interest payments per year, explains the RBA. And if your loan amount is higher than the above example or if your loan is older then theres a decent chance that refinancing could save you even more than $1000 in interest payments each year. WHATS YOUR NEXT STEP? Thats the easy part get in touch today. Theres a reason tens of thousands of families are currently refinancing their home loans: nows a good time to do so as a competition among lenders is running hot. And the longer you put it off, the longer youll keep paying your current rate. So if youd like to refinance your home loan, give us a call and we can run you through your options and get the ball rolling.

12.01.2022 First home buyers are now breaking into the property market more than four years faster than they typically would thanks to a little-known government scheme. Today well discuss how. Ever heard of the First Home Loan Deposit Scheme? If not, dont stress, it only launched this year and the first six months of data has only just been published. Basically, its a government scheme that allows eligible first home buyers with only a 5% deposit to purchase a property without payin...Continue reading

11.01.2022 Some positivity to lighten our today.... How great is this review we received this morning!

11.01.2022 When is it time to refinance? Three key reasons we see people wanting to refinance their home loan 1. To get a lower rate and/or less fees: we're currently seeing record low interest rates on offer, and competition amongst lenders is fierce. ... 2. More features: you could switch to a mortgage with an offset account, redraw facility, or one that allows extra payments. 3. Access equity in your home: you may want to invest these funds for a reno, a big expense, or as a deposit for another property. To find out more about your refinancing options, speak to one of our Mortgage Brokers. You can contact us on (03) 6144 9669 or at [email protected]

11.01.2022 Are you paying .4% or more in interest on your home loan? Don't settle for less than you deserve! The average existing mortgage holder had a home loan rate of 3.19% in August, yet new owner-occupier customers were offered a rate of just 2.69% on average.*... If it's been a while since you last refinanced then simply get in touch with us today - we'd love to help you save hundreds (and possibly thousands) of $$$ each year.

10.01.2022 FREE WEBINAR EVENT TOMORROW! Has investing in property ever crossed your mind? Maybe you have saved a large sum of money but, not ready to move out of home?... You purchased a property years ago and not sure what to do with the equity sitting there. Maybe you have one investment property but not sure how to build your portfolio? If any of these points have crossed your mind then this webinar is for you! TOMORROW | 7PM | The Inner Circle https://www.facebook.com/groups/117893892842422/?ref=share Ps Pyjamas and Snacks are allowed. COVID restrictions dont apply

10.01.2022 www.derwentfinance.com.au

10.01.2022 Review Tuesday Happy First Home Buyers make the world go round.

09.01.2022 A broker you want to use again and again? YES, please! Who wouldnt want that?

09.01.2022 RBA holds off on negative cash rate maintaining official cash rate at 0.25% In a largely anticipated decision, the Reserve Bank of Australia (RBA) has elected to hold the official cash rate at the record-low of 0.25%, with the board agreeing that the cash rate had reached its effective lower bound*.... The RBA also announced it would be begin to implement an alternative monetary policy in the form of quantitative easing (QE) to potentially alleviate the financial consequences of COVID-19. Despite popular belief, it is not the literal act of printing money. Instead, QE works by purchasing government bonds and securities from secondary markets, as the strategy helps the Australian government inject more money into the economy. RBA Governor Philip Lowe said the RBAs main goal is to support the Australian economy and reduce the economic and financial disruption resulting from the virus.

07.01.2022 Power to the people! Australias Consumer Data Right (CDR) in banking has officially been launched, with Open Banking going live from 1 July 2020. According to our PM, Scott Morrison "Open Banking is a game changing reform for Australians and will revolutionise the way that consumers and small businesses use their data to compare prices and switch between products and providers in the banking sector". If youre a customer at one of the big four banks, you can now choose to sh...are the data from your transaction and savings accounts, as well as your credit and debit cards which potentially means you could switch to a more competitive deal and potentially save more. From 1 November 2020 consumers will be able to share their data relating to home loans, investment loans, personal loans and joint accounts. At Derwent Finance, we work with over 25 lenders and have been working to provide our customers with an easy and seamless home loan experience. Enquire now How can we help you? Depending on the lender, our home loan specialists can help you process your mortgage conveniently by: Potentially accepting electronic signatures rather than paper signatures for various mortgage documents, which is faster and more convenient as it allows you to sign from a mobile or laptop device eliminating the dependency on paper and printing. Processing paperless mortgage applications (keeps the cost lower and reduces the hassle of transactions). Conducting home loan consultations over the phone. Generating and sending electronic property reports to help you understand your homes value. At eChoice, we pride ourselves in being an online brokerage to keep your home loan experience paperless and contactless, during these trying times.

07.01.2022 Ever used Afterpay? You need to read this Buy now, worry about your bank balance later - theres no denying that Afterpay can be tempting. But its not without its risks. While there (generally) arent any credit report checks in the Afterpay approval process, its important to note that Afterpay (and its competitors such as ZipPay) are still credit liabilities that need to be disclosed when applying for a home loan.... And with the banks very stringent on who they lend to at the moment, your efforts to obtain a home loan could be hampered if youve racked up quite the Afterpay bill. So next time youve loaded up your online shopping cart at 2 in the morning, ask yourself: how will this look on my loan application?

07.01.2022 Homeowners in record-high numbers are taking advantage of reduced interest rates and competitive refinancing offers. Are you ready to take the leap? When times are tough, the belt gets tightened.

06.01.2022 GOOD NEWS MONDAY! The Builders Grant has been extended!! Meaning you now have until MARCH 2021 to apply for the scheme. However, there have been some changes: ** keep in mind, these changes ONLY apply to those who sign signed a building contract between January 1st 2021 and March 2021 (inclusive). ... Grant reduction, the original scheme allowed for $25,000 now $15,000. Construction must commence within six months from the signed contract date (originally three months). New build price cap: $950,000 NSW: $850,000 VIC: $750,000 in all other States and Territories Renovation Price Cap has increased, the property value cannot exceed over $1.5 million (pre-renovation). Applications must be signed before 14 April 2021 Where an eligible contract is signed on or after the 29 November 2020, the builder or developer must have a valid licence or registration before 29 November 2020. Where an eligible contract is signed before 29 November 2020, the builder or developer must have a valid licence or registration before 4 June 2020. ** This information has come directly from https://treasury.gov.au/coronavirus/homebuilder Leave any comments below and we will answer them for you!

05.01.2022 Who can relate to this at the moment? Tag away!

04.01.2022 We are open, and working hard for you (following the guidelines, of course). We may be in Isolation, but it is a perfect time to discuss your finances over the phone or through a skype meeting with me to discuss the following: How can we help you navigate any tough times?... Needing an understanding on repayment holidays when in times of distress or default? Taking advantage of the RBA rate drops How to use your offset account Understand your redraw facilities. What is or is not available and what other access to credit do you have? How to possibly reduce your repayments back to the minimum if you are paying more than required (a temporary strategy). Understand how you can use the equity in your property Are you a first home buyer? lets discuss your options! We will always and can promise you will receive the service that we promise to all our clients even in this stressful time. We want to reduce the stress you may be feeling at this point in time.

04.01.2022 DID YOU, MISS, OUR INVESTORS WEBINAR? Dont sweat it, we filmed it and we are happy to share it with you! Comment below or send us a message and we will send it to you.

04.01.2022 Small steps add up and can take you a long way We’re into the second month of 2021. Let’s make those goals happen! If you would like to speak to one of our Mortgage Brokers or source some more information, please don’t hesitate to contact us at [email protected] and our team can assist you

04.01.2022 Happy International Women’s Day 2021 to all our beautiful ladies.Shoutout to our kick a$$ team members Rhianna and Brooke. We are grateful for you every day.

03.01.2022 Have you heard the news? We are hosting a FREE First Home Buyers Event here in Hobart. Click below for more information!

03.01.2022 Lets help the small business, (where we can of course). There are many things that you can do that dont cost anything! Share, comment and like posts.... If you have purchased take away food share it on your social media platforms Review businesses on Facebook and Google. Recommend to people you know, word of mouth is so powerful! We are all in this together.

01.01.2022 Youve heard the saying safe as houses, right? Well, it seems that old adage may ring true even in the current pandemic, with many of the nations top economic experts saying thats where theyd put their money right now. Click the link below to find out more. https://www.derwentfinance.com.au/property-ranked-as-best-/... . See more

01.01.2022 We are very excited to announce that we will be speaking at a First Home Buyers Event next Thursday! There will be Lawyers, Real Estate Agents, Builders and so much more discussing everything you need to know when building OR buying your first home. We hope to see you there.