Full House Finances in Sydney, Australia | Financial service

Full House Finances

Locality: Sydney, Australia

Phone: +61 2 8354 3014

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• Mortgage brokers
• Property investment firm

24.01.2022 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 dont 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 However, there is also the risk that you could end up paying higher than the market rate if you are locked into an outdated fixed interest term.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.

22.01.2022 Would you like to shave 10 years off your mortgage? How much interest could this save you? Its not rocket science, its simply a matter of making more repayments more often and making sure youve got the best mortgage for your situation. Of the millions of homeowners, only some are getting out from under mortgage payments years, sometimes decades, before their neighbours. How?...Continue reading

21.01.2022 Did you know that your borrowing capacity can vary by over $200,000 + depending on which lender you use ... So if your current lender isnt giving you the funds you need - get a 2nd opinion ... you may just get the loan you want with better terms ...

21.01.2022 Top Six Reasons why your home loan might be declined Youre ready to buy a home, but you cant 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

21.01.2022 Eight tips for New Australians wanting to purchase property If you are new to Australia and looking to establish a comfortable, settled life here, then sooner or later, you will naturally consider buying property, either as an investment or a home for your family. So there are a few things you need to do in preparation for your first property purchase. 1. Find steady employment...Continue reading

20.01.2022 What Is A Mortgage Offset Account? An offset account is a transaction account that can be linked to your home or investment loan. The credit balance of your transaction account is offset daily against your outstanding loan balance, reducing the interest payable on that loan. Offset accounts enable you to make the most of your income and other funds to reduce the interest payable on your home loan, thereby reducing your loan term.... How an offset account can work for you: A customer with a $150,000 home loan over 30 years would pay approximately $167,190 in interest. If the customer had an offset account linked to the home loan for the entire loan term with a constant balance of $10,000 in it, they would pay the loan off in 26 years and 4 months and pay just approximately $127,553 in interest. This represents a saving of three years and eight months and approximately $38,636.95 in interest. Please note: These figures are based on a Standard Variable Rate of 7.36% p.a. We not only assist our clients with finding the right loan for their situation, but our post settlement service is second to none. Post settlement we help our clients and show them how to correctly set up their banks accounts and how to link them the right way with their loan accounts. Click the message button above and ask us which lender is offering the right loan for your situation! (We have access to all the major banks and many other leading lenders)

20.01.2022 Whats the best time to purchase a second property? You are established in your home and ready to dabble in some investments, yet you are a little daunted by the responsibility of owning two properties. How do you know when conditions are right for you to purchase a second property? If you are like most one-property owners, you might visualize a few obstacles preventing you from purchasing a second property. So lets look at some of these obstacles and see if there is a way ...around them. Dont let market conditions dictate your decision Many buyers find themselves in limbo waiting until interest rates and housing prices are just right. While this is a positive opportunity to continue saving and build equity in your existing property, it can also be counter-productive if the ideal conditions never eventuate. Property investment is about long term capital growth, and you can only start that growth process once you make the purchase. An alternative to paying off existing property Property owners can also be inhibited from buying a second property because they are focused on paying off their existing home first. However, if you are looking at your property portfolio from the investment perspective, it is worth calculating your options here, as a second property can considerably increase your overall equity. While paying off your first home first may seem like the more secure option, investing that money into a second property can be more profitable, thereby increasing your financial security. Your own financial situation Ultimately, the best time to purchase your next property is when you are financially capable of managing a second mortgage. Ideally, you should have at least a 10% deposit available (plus closing costs), through cash or equity or a combination of both, with additional capital to cover any rise in interest rates, emergency maintenance or loss of income in between tenants. Talk to your mortgage broker to assess your options, so you know how to make best use of your equity, what sort of loan you can apply for, and how much the repayments should be to fit your budget and achieve your investment goals. A property with profit potential Besides capital, the other factor that signals the best time to buy is when you find a property within your budget with high and safe returns. Look for a property with great rental potential for its area, so you can be confident of a regular rental income. Property investment is never an impulsive decision it will take intensive research and budget calculation to find the property that covers all your bases. When you find that property and have the capital to cover your investment expenses, then you have narrowed down the right time to purchase your second property. Contact us today if you need advice or assistance in expanding your property portfolio.

20.01.2022 Is this your bank? Then its time to take advantage of our Free Loan Comparison Service. Some clients discovered saving $300+ per month by switching to a better deal. Private message me today to see how much you could save by switching.

20.01.2022 Looking to invest in property to create wealth, security & freedom? Sometimes you need to be creative to find the right solution! Private message me to set up a meeting to explore your options. (well cover your borrowing capacity, loan structuring, property options, repayment options, rates etc)

19.01.2022 Looking to get approved for a home loan? But ... Started a new job? Short term casual employment? Commission Income? Bonus income?... No problem... we know which lenders will approve you! Message me now to give you a professional take on your situation.

19.01.2022 How to maintain a good credit score When you are applying for a loan, the first thing lenders will do is check your credit score and this will have a strong impact on their ultimate decision. So what is your credit score and how do you maintain a good score that will impress lenders? The five elements of your credit score...Continue reading

19.01.2022 "Never give up on something that you cant go a day without thinking about."

18.01.2022 Did you know if a home loan interest rate varies by 0.5% (on a $350K loan), thats a saving of $41,875.00 over the life of the loan? My free loan comparison service tells you how much you could save! Message me for a free check up today! PM me...

18.01.2022 Why you need a property inspection Whether you are purchasing a new home or an investment property, you are about to embark on one of the most important financial investments of your life. So it is essential to ensure that you are getting a fair deal. Yet, while buyers can be scrupulous about checking contracts and researching market prices, a surprising number of people tend to skip the property inspection. This means that you are taking ownership of any issues that could d...Continue reading

18.01.2022 Spend 10 minutes on the phone with me to see if you could save $250 or more per month OFF your home loan repayments. Private message me now for a free loan comparison!

15.01.2022 Don't let this happen to you! Get a broker to find the right loan & get approved. Message me to give you a professional take on your situation.

14.01.2022 Understanding the buying and loan process Purchasing a new home or an investment property can be a daunting prospect, and you might find it difficult to identify the first logical step. Here we look at the process of securing a loan so you can buy the property that suits your needs and your budget. Ask yourself what you want to achieve...Continue reading

14.01.2022 How to ensure your renovation will increase your house value There are two main benefits to renovating your property firstly, you can make it more comfortable and compatible for your lifestyle; and secondly, you can increase the value of your home. The challenge is to find the right balance between these two benefits if you invest too much into renovations, you risk reducing the amount of profit you would make when you sell. So how do you strike the balance and turn you...r renovation into profit? The 10% rule One handy rule of thumb is to ensure your renovation doesnt cost more than 10% of the propertys value. If you are planning an extensive renovation, do your research to make sure you are not over-capitalizing. If you are building a substantial extension on a family home, for example, you should regain the value through creating a home that suits your familys needs for a considerable period of time. Keep it simple and contained The renovations that increase the value of a home are generally in the kitchen and bathroom. A future buyer wants to know that these rooms are up-to-date with relatively new fixtures and fittings. The garden is another selling point as potential buyers will be attracted to a healthy, well maintained garden. Take your renovations slowly, step by step, finishing one room before starting on another. This way, you can keep track of costs and also ensure that your house remains liveable rather than turning into a chaotic mess that will be finished one day! Check for council approval Before you dive into any renovations, make sure you have council approval. As part of the process, ask your neighbours to check over your plans before you start work. You dont want the neighbours complaining that your renovation reduces the value or comfort of their home. Sometimes it just means repositioning a window that overlooks the neighbours yard, in order to keep everyone happy. Consider your financing Depending on your financial position, you could use your equity to finance the renovations, a combination of equity and savings, or you could take out a construction loan. In order to access the equity on your home loan, you need to ensure that the loan includes features such as redraw, line of credit and an offset account (this of course varies based on individual circumstances and needs). A construction loan is written against the renovated valuation of the property, and the lender interacts directly with the builder, making regular milestone payments and monitoring a schedule. Basically, your lender has a vested interest in ensuring your renovation increases the value of your home. If you need assistance working out the best way to finance your renovation and ensure it increases the value of your home, contact us today.

14.01.2022 What caption would be best for this picture?

13.01.2022 How to calculate your borrowing power One of the most important factors in your home ownership journey is the amount of money you can or should borrow. You want to borrow enough that you can purchase the right property for your needs, yet you dont want to end up out of your depth in debt. Most lenders rely on their own variation of a basic formula to calculate your borrowing power. They look at six elements of your financial situation gross income, tax, existing commitme...Continue reading

12.01.2022 Tip: Dont just repay the minimum on your credit card every month! Doing so may take 20+ years to pay it off. Instead, create your own plan e.g. Say you decide to pay your credit card off in one year. Take the balance and divide it by twelve. Take that figure and set automatic monthly transfers from your savings account to get rid of that credit card debt quickly.

12.01.2022 Comparing commercial and residential property investment If you are looking for a sound real estate investment, look beyond the typical two bedroom apartment and consider expanding your portfolio with a commercial property. There are three types of commercial property office, retail and industrial. There are some significant differences between investing in commercial and residential real estate, each with a potential positive or negative impact on your investment. ...Continue reading

11.01.2022 "You dont always need a plan. Sometimes you just need to breathe, trust, let go and see what happens"

11.01.2022 What Are Genuine Savings? Get approved today Genuine Savings For A Home Loan Deposit Explained Just when you thought that you could get the best home loan deal by simply having a lump sum of cash, you might have to think again. Not all cash deposits are acceptable in applying for a home or investment loan when your deposit is less than 20% of the purchase price.... These days you can obtain a home loan with as little as a 5% deposit. That means a bank can lend you up to 95% of the purchase price. If you are considering applying for a home loan with a deposit that is less than 20% of the purchase price then here are some of the things that you need to know. At least 5% of your deposit needs to be made up of genuine savings. 1. What exactly are genuine savings? These are savings that are held or accumulated in a savings account for at least three months. 2. What other assets might be considered as genuine savings? Other assets that can be considered as genuine savings are term deposits, shares, and equity in property that are held for at least three months. If you have any debts, e.g. a personal loan, and you have been paying extra off your debt above the minimum requirement, you can use this extra repayment towards your genuine savings calculation. If you are currently renting for 12 months or more through a Real Estate agent, you may be able to use those rent payments towards your genuine savings calculation as well. Please contact us to discuss your personal circumstances to see if you qualify. 3. What does not qualify as genuine savings? Gifts from parents Tax refunds Income Bonuses Inheritance money Cash kept at home If any of these apply, we recommend that you place those funds into a personal savings account and hold them there for three months to qualify. 4. How much do I need for a home loan deposit? You can obtain a home loan with as little as a 5% deposit. The major lenders may provide a mortgage up to 95% of the value of the property. In some instances you may be able to borrow the whole amount, contact us to see if you qualify. 5. Can I buy a property if I dont have genuine savings? We have access to lenders where you can borrow up to 95% of the purchase price without having genuine savings. Of course you still need to come up with at least a 5% deposit plus funds to complete (stamp duty, legal costs etc). Contact us today, simply click the Message button above and our home loan specialists will answer all your questions and assist you with finding the right home loan for your situation.

11.01.2022 5 Ways To Tell If You Found The Right House Youve seen a lot of homes lately. You have been out every weekend searching for the right home for you. At this point, you might not be sure its even out there, or if it is, you might not find it. Then you drive up to a home that gives you hope. At this point, however, how can you tell if it is the right house for you? Here are 5 sure signs that youve found the right house:... 1. You feel excited. Just as your first love might have given you knots in your stomach, the right home could as well. You start to imagine a life in the home and its exciting. 2. You overlook the flaws. You are realistically seeing the negative aspects of the home and are willing to overlook them. Maybe you wanted a view and this home doesnt have one. But the beautiful kitchen remodel and spacious landscaped yard make up for that. 3. It doesnt have your deal breakers. You should never compromise on the real deal breakers in your criteria. That might be tempting if the master bathroom is perfect, but if you have to have 4 bedrooms and this is really just a 3 bedroom, youll regret buying the home. 4. It fits your overall criteria. The home is located in the school district, city or neighbourhood you want. The larger lifestyle aspects line up with the home. 5. You can afford it. So important! There is no reason to go see homes you truly cant afford, but it happens. The right home is in your budget. Of course there are many more aspects which goes into knowing if the home is the right home for you and your family. One of the best ways to know youve found the right home is how badly you want the house. Once youve left the showing have you compared all other houses to this one? Do you talk about it, think about it? Can you imagine yourself in the home? If so, youve found the right one. So if youve found the right home, write that offer! Dont let it get away!

10.01.2022 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!

10.01.2022 What Is An Equity Line Of Credit? These loans are a great way to access the equity in your home to use for things like home renovations, investments or other personal purchases. Repayments on a line of credit loan are determined by the interest rate applicable at that time. If you have sufficient equity in your home, you will need to make a separate application for a line of credit loan. You have the added advantage of being able to make unlimited deposits / repayments as you... repayments are not set. You must check the conditions of these loans as they are sometimes more expensive than standard products. A line of credit is also a popular product with property investors as it gives them instant access for a cash deposit, and the ability to keep their properties separate from each other i.e. not cross secured. Think of it like a gigantic credit card with a limit. So planning and caution is strongly advised. For more information please click the Message tab at the top to request a specialist finance broker to call you. We start with a review on your current situation, answer any of your questions and explore any opportunities available to save you money and/or invest.

08.01.2022 hope. dream. wish. live. laugh. love. breathe...

07.01.2022 First Home Buyer Cheat Sheet: 10 Tips To Buying Your First Home So youre going to take the plunge into real estate ownership. Congratulations! Youve just made a smart decision in securing your financial future....Continue reading

04.01.2022 Like to know how much you can borrow? Message me today to get your free borrowing capacity report!

04.01.2022 Which is the right home loan for you? There are a bewildering variety of home loans available, and it can be confusing to figure out which type of home loan is the best for your circumstances. However, when you know the pros and cons of each type of loan, you can make a decision that will fit best with your financial situation. Fixed rate home loan...Continue reading

04.01.2022 Upgrading Your Home Before Selling? Most people have walked through beautiful model homes and wished their own home had all those modern features. Model homes showcase the latest in upgrades and decorating styles. When we get home all we can see is the tile in our bathrooms and yesterdays details in our kitchens. These things can become overwhelming if we are considering a home sale in the near future. Can I even sell my house with granite countertops anymore?... Before you grab the sledge hammer and plan a DIY weekend of expanding your family room, take a breath. Your home doesnt need to be the latest and greatest to fetch top dollar in the resale market. As you evaluate making changes to your home prior to listing it for sale, the first thing you should do is talk with your real estate agent. They have market experience which allows them to speak with you about how your home compares to others in your area. They work with buyers and sellers every day and know what features and upgrades are top sellersand which dont matter at all. While the urban modern home in the magazine looks great, changing the details in your country house into industrial loft style is not an improvement. Some improvements do translate to better sales price in every case. Outdated wallpaper, dirty and worn carpet and dark rooms can always use improvement. New or cleaned carpet and a fresh coat of paint, coupled with light bright lighting, will really showcase the best features of your home. Each neighbourhood is different. As you work with your agent, you might find that there are upgrades which will net you a significantly higher sales price. For instance, if you are located in a high end, luxury neighborhood, those buyers expect updated kitchens and bathrooms and you might want to put some money into those rooms to market your home in the top end of the market. But again, talk with your agent before you guess. You dont want to spend thousands of dollars in upgrades that your buyers dont care aboutor worse. dont want.

03.01.2022 Dont let this happen to you! Get a broker to find the right loan & get approved. Message me to give you a professional take on your situation.

03.01.2022 Sell or buy first? Which option is right for you? Its the ultimate dilemma for any home owner planning to move on to a new property do I sell or buy first? You dont want to sell unless you have somewhere else to live, but you dont want to buy unless you have the money from the original home. Whichever way you go, there will be some stress involved, so its important to look at the pros and cons of each option to decide which is the most suitable and practical for your ...Continue reading

01.01.2022 "Life isnt about waiting for the storm to pass... Its about learning to dance in the rain."

01.01.2022 Working with a mortgage broker A mortgage or finance broker acts as your go-between, communicating with banks and lenders on your behalf, in order to secure the best deal for your circumstances. With approximately 40% of home loan applications being turned down, you can benefit from a broker to ensure that your application is sent to the right lender. However, while the broker can save you a great deal of running around, you should still double check everything to make sure y...ou are getting the best deal available. Is the broker licensed? Before you start doing business with a mortgage broker, check that they are fully licensed. In Australia, it is illegal for a credit provider or broker to operate without a license. You can check through ASIC ConnectsProfessional Registers or call ASICs Infoline on 1300 300 630. Before you start doing business with your licensed broker, ask what loans they offer and how they are paid. The brokers fee is generally covered by commission paid by the credit providers, although some brokers may charge you a fee instead of commission or on top of their commission. If you are expected to pay a fee, you need to know this before you start doing business. Shop around before choosing a broker, so you are confident you have the best and most cost-effective person for the job. The brokers role Your mortgage broker is responsible for negotiating with credit providers such as banks, to find the best possible loan for your circumstances. They can offer you a range of loan options and help you manage the process of buying your property. Make a list of all your loan requirements, so the broker knows exactly what you need and want. If the broker is making recommendations that do not fit your requirements, do not settle for not good enough ask the broker to keep looking. While the broker will save you a great deal of time and money by searching for loan options, you can still do your own window shopping. As your broker is paid by commission, it is possible they will favour a certain lender over one that has the deal you desire. Alternately, they might not have connections with a lender who has the home loan deal you want. It doesnt hurt to look around! Written loan agreement Once the broker has secured a loan that satisfies your requirements, you must get a written agreement, specifying the type of loan, the amount of the loan, the term and the current interest rate. It should also cover any fees you are required to pay, such as commissions, brokers fees or fees to the credit provider. You may also incur fees if you wish to terminate the agreement before the end of the term. How to make a complaint If you have a dispute with your broker or any concerns about their professionalism, you can make a complaint by contacting ASICs Infoline on 1300 300 630.