Fidget Loan Specialists in Melbourne, Victoria, Australia | Loan service

Fidget Loan Specialists

Locality: Melbourne, Victoria, Australia

Phone: +61 401 272 505

Address: L20/31 Queen St 3000 Melbourne, VIC, Australia

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

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• Loan service
• Mortgage brokers

25.01.2022 The federal government has doubled the number of openings for its popular First Home Loan Deposit Scheme. When the scheme started in January, only 10,000 eligible first home buyers were able to participate each financial year. That has been increased to 20,000 for this financial year. Under the scheme, the government acts as a guarantor for eligible first home buyers, allowing them to:... Take out a mortgage with just a 5% deposit Skip the usual requirement to pay lender’s mortgage insurance (LMI) The scheme includes 27 participating lenders who are now accepting applications. To be eligible, you must earn no more than $125,000 for singles and $200,000 for couples. Also, you must purchase a home under the price cap, which ranges from $250,000 in regional South Australia to $700,000 in Sydney.

25.01.2022 3min read but surely worth it? Oh, its Dan Andrews on TV, again! Whats he got to say? Something positive for a change? Nope. My brain seems to mimic my Facebook feed lately (maybe thats my first problem, even knowing whats on Facebook feeds)...Continue reading

25.01.2022 Way to go Tammy from Advantage Property Management. Hopefully see you there on the night :)

24.01.2022 It will soon become easier to qualify for a mortgage, under reforms proposed by the federal government. Lenders will no longer have to comply with strict 'responsible lending obligations' when issuing mortgages, although they will still have to follow certain lending standards. Under the current ‘lender beware’ system, lenders can be held accountable when borrowers default on their mortgages which has made nervous lenders less willing to give out loans.... But under the proposed ‘borrower beware’ system, borrowers will become more accountable for their loan applications which should encourage lenders to assess applications faster and say yes more often. The government feels the current system forces lenders to use one-size-fits-all criteria when assessing loan applications; it wants to move to a system that allows lenders to take a more flexible, commonsense approach. This change is expected to particularly benefit first home buyers and self-employed borrowers, who can struggle to qualify for loans under the current rigid system. The reforms will take effect on 1 March 2021, if approved by parliament.

24.01.2022 Switching lenders has never been more popular Refinancing has reached record levels, according to new data from the Australian Bureau of Statistics. A record 33,712 Australians refinanced in May, the most recent month for which there are stats. That was up 30% on April, which was itself a record.... Of those who refinanced, 64% moved to another lender, while 36% stayed with their current provider. There are two reasons why refinancing is so popular: 1. Interest rates are at record-low levels 2. Lenders are competing hard for business, with cashback offers and other deals While refinancing is a good decision for many borrowers, it wont suit everyone. Here are some questions to ask: 1. Will you have to pay money to close your current loan early? 2. Will you be forced to pay LMI (lenders mortgage insurance) if you switch? 3. Will your new loan revert to a higher interest rate after a honeymoon period?

23.01.2022 New 5.0-star Review: "James from Fidget loans provided superb service to myself and fiance during our first home purchase. Every step of the journey was taken care of clearly and professionally. James and the team were efficient, courteous, and cut to the chase when needed. He was able to negotiate our home loan for us to get the best deal possible.Id highly recommend James and Fidget loans to anyone looking for knowledgeable, professional, hard-working broker who gets results.- Ciaran"

21.01.2022 Government extends $150k asset scheme The enhanced instant asset write-off scheme, which was due to expire on June 30, has now been extended to December 31. The scheme lets eligible businesses immediately write off assets they buy for less than $150,000.... The threshold applies on a per-asset basis, so your business can use it an unlimited number of times, provided each asset costs less than $150,000. Businesses must have an annual turnover of less than $500 million to participate Assets can be new or second-hand If your asset is for business and private use, you can only claim the business portion In March, the government boosted the asset threshold from $30,000 to $150,000. If youre looking to take advantage of this opportunity and need help funding your purchases, I can help.

21.01.2022 Property market gets $1.5bn boost Homeowners and property investors are smiling after the government announced $1.5 billion of new, ready-to-go infrastructure spending. The government has allocated $1 billion to 15 "priority projects which are shovel-ready" and $500 million to road safety works.... Traditionally, long-term infrastructure projects attract workers from other states, which often leads to an increase in demand for housing, and therefore property prices. So these projects could be of interest to any one looking to purchase or invest. The infrastructure priority list includes: - Inland rail from Melbourne to Brisbane - Marinus Link between Tasmania and Victoria - Olympic Dam extension in South Australia - Emergency town water projects in New South Wales - Road, rail and iron ore projects in Western Australia - The $1.5 billion package will support over 66,000 direct and indirect jobs, according to the Prime Minister. https://www.pm.gov.au//address-%E2%80%93-ceda%E2%80%99s-st

19.01.2022 Now might be the to get a place of your own. With as little as 5% deposit its possible!

19.01.2022 New 5.0-star Review: "We used Lee for our first home purchase 4 years ago, an off the plan apartment purchase. Being first home buyers, Lee and the team were extremely professional and were more than happy to answer our 101 questions. They held our hands through application right through to settlement. In our first meeting Lee came prepared with options tailored to us and our situation, never trying to push us one way or another. Even now, the team regularly reach out to make sure we are happy with our current loan and are still fielding our questions. We will be using the team when its time for our next purchase."

19.01.2022 Rental vacancies fell between April and May, despite fears cash-strapped tenants would abandon rental properties due to COVID. Across Australia, the vacancy rate decreased from 2.6% in April to 2.5% in May, according to SQM Research. Looking at the different capitals, vacancy rates fell in Brisbane, Perth, Darwin and Hobart, were flat in Adelaide, and rose in Sydney, Melbourne and Canberra.... One cause for concern, though, is CBD vacancy rates, which are very high.

18.01.2022 If you’re like me you’ve deleted about 100 emails with Merry Christmas as the subject line, so you don’t need me dribbling on about wishing you a Merry Christmas and a safe new year. You already know I care, don’t you? What I will share, in a couple minutes, if you can spare me that, is this. Read on: https://www.fidget.com.au/december-newsletter-the-very-bes/

17.01.2022 New 5.0-star Review: "This is the third time we have used Lee and his team at Fidget to arrange our home loans. Always helpful and responsive. Offer great solutions. Highly recommend"

16.01.2022 New 5.0-star Review: "Once you go with Fidget youll never look elsewhere. I could not recommend Lee and the team any higher. 10 stars out of 5."

16.01.2022 New 5.0-star Review: "Great team, very responsive and got the job done."

16.01.2022 New 5.0-star Review: "As usual Lee and his team just get it done. Knowledgeable, professional and they put the client above all. I will never go anywhere else. Great work."

16.01.2022 New 5.0-star Review: "Lee at Fidget was brilliant for us. We had some issues with another broker we were using, which at one point was threatening to lose us a house we were keen on. Within 48 hours of contacting Lee, he had our application completed and sent in, and a few days later, it was approved.Not only that, but any queries or questions we had for Lee over the course of settlement were quickly answered, putting us at ease and comfort for what can be a daunting process at first.I would fully recommend Lee and Fidget to any others who are looking for a mortgage broker. Thanks very much for your help!"

15.01.2022 First home buyers given new financial year gift! Good news: On July 1, another 10,000 spots will be made available in the popular First Home Loan Deposit Scheme. The 27 participating lenders have begun announcing the number of spots theyve been allocated and these spots are likely to go fast.... The First Home Loan Deposit Scheme allows eligible buyers to enter the market with just a 5% deposit without having to pay lenders mortgage insurance (LMI). To reserve a place in the scheme there have been two important changes Before applying, you must receive conditional approval from your lender You will need to provide documents that verify you are: An Australian citizen, aged 18 or above A first home buyer Married/de facto (if applying as a couple) Theres also some complexity around filing your tax return quickly if you apply for the scheme after July 1st 2020. Please get in touch if you want to understand how it works.

13.01.2022 New 5.0-star Review: ""

13.01.2022 Australians are showing more confidence in the property market, new auction figures have revealed. There were 14,216 auctions held in the capital cities during the September quarter, according to CoreLogic. That was up from 13,783 in the June quarter. The clearance rate (the percentage of properties put up for auction that actually sold) also rose, from 47.9% in the June quarter to 59.2% in the September quarter.... The clearance rate statistics from the different markets were: Canberra = 78.8% from 746 auctions Tasmania = 64.3% from 14 auctions Sydney = 63.1% from 8,147 auctions Adelaide = 62.2% from 734 auctions Melbourne = 51.0% from 3,320 auctions Brisbane = 44.5% from 1,057 auctions Perth = 28.6% from 198 auctions Why did the auction statistics improve in the September quarter? It probably reflects growing consumer confidence, with Australia increasingly getting on top of the coronavirus problem.

12.01.2022 Heres a simple step by step guide to refinancing. Never been a better time so reach out if you want to review your current home loan with us :)

12.01.2022 Bought your first home in the last 5 years? If you have bought your first home, to live in, over the last 5 years and the property was < 5years old at the time of settlement then we need to hear from you IF YOU DIDNT receive the First Home Owner Grant of $10,000. We might have some good news for you :)

12.01.2022 Units are delivering a higher rental yield than houses, according to the latest ANZ Housing Affordability Report. Across Australia, the average rental yield in June 2020 was 4.00% for units (compared to 4.60% in June 2019) and 3.60% for houses (was 4.00%). However, the figures differed significantly among Australias eight capital cities, with Sydney delivering the lowest yields and Darwin the highest.... For houses, Perth was the only city that experienced an increase in yields between 2019 and 2020, while Sydney and Melbourne experienced the biggest decrease. For units, Darwin was the only city to increase its yields, while Sydney, Melbourne and Hobart had identical drops of 0.60 percentage point.

12.01.2022 New 5.0-star Review: "We wanted to build for our first home, it seemed overwhelming, but we decided to call a Mortgage broker.Lee was so great at explaining every step, with a caring and professional attitude. We are so thankful to Fidget Money, they have stuck by us, through the last few years, its not about getting you a great Mortgage deal, it is a long term partnership, so professional, actually cared for our financial future.We highly recommend them, Great value service, very knowledgeable within the financial and home buyers market.Thank you Fidget Team for all your help throughout our journey from buying our first home and changing our Mortgage rate last year, forever grateful.Truly grateful,Glen"

12.01.2022 New 5.0-star Review: "Fidget Money was an invaluable asset in helping me with obtaining my mortgage finance. Lee was very personable, professional and knowledgeable. I would recommend Fidget Money."

11.01.2022 Property investors receive encouraging news: Rental vacancies fell between April and May, despite fears cash-strapped tenants would abandon rental properties due to COVID. Across Australia, the vacancy rate decreased from 2.6% in April to 2.5% in May, according to SQM Research.... Looking at the different capitals, vacancy rates fell in Brisbane, Perth, Darwin and Hobart, were flat in Adelaide, and rose in Sydney, Melbourne and Canberra. One cause for concern, though, is CBD vacancy rates, which are very high.

10.01.2022 Homeowners and property investors are smiling after the government announced $1.5 billion of new, ready-to-go infrastructure spending. The government has allocated $1 billion to 15 "priority projects which are shovel-ready" and $500 million to road safety works. Traditionally, long-term infrastructure projects attract workers from other states, which often leads to an increase in demand for housing, and therefore property prices. So these projects could be of interest to any ...one looking to purchase or invest. The infrastructure priority list includes: Inland rail from Melbourne to Brisbane Marinus Link between Tasmania and Victoria Olympic Dam extension in South Australia Emergency town water projects in New South Wales Road, rail and iron ore projects in Western Australia The $1.5 billion package will support over 66,000 direct and indirect jobs, according to the Prime Minister. https://t.apemail.net/c/nqkqouksambvgvacdiaqiaagdibviu2vdih

08.01.2022 CBA just released a 1.99% 4yr fixed rate, as the first bank to move after the RBA announcement. Interesting times ahead indeed... Strap yourself in!

07.01.2022 The enhanced instant asset write-off scheme, which was due to expire on June 30, has now been extended to December 31. The scheme lets eligible businesses immediately write off assets they buy for less than $150,000. The threshold applies on a per-asset basis, so your business can use it an unlimited number of times, provided each asset costs less than $150,000.... Businesses must have an annual turnover of less than $500 million to participate Assets can be new or second-hand If your asset is for business and private use, you can only claim the business portion In March, the government boosted the asset threshold from $30,000 to $150,000. If youre looking to take advantage of this opportunity and need help funding your purchases, I can help.

05.01.2022 New 5.0-star Review: "Lee and the team were very helpful and made things easy to understand. Saved us alot of money"

05.01.2022 Good news: On July 1, another 10,000 spots were made available in the popular First Home Loan Deposit Scheme. The 27 participating lenders have begun announcing the number of spots theyve been allocated and these spots are likely to go fast. The First Home Loan Deposit Scheme allows eligible buyers to enter the market with just a 5% deposit without having to pay lenders mortgage insurance (LMI).... To reserve a place in the scheme there have been two important changes Before applying, you must receive conditional approval from your lender You will need to provide documents that verify you are: An Australian citizen, aged 18 or above A first home buyer Married/de facto (if applying as a couple) Theres also some complexity around filing your tax return quickly if you apply for the scheme after July 1st 2020. Please get in touch if you want to understand how it works.

05.01.2022 As Victoria enters lockdown 2.0 today I thought Id refocus my energy towards some positivity for a change and not focus on what we cant do right now but on what we CAN... I was reading about the Great Depression recently (hows that for some upbeat reading) and it was obvious that it was one of the worst periods in modern history for despair, financial ruin and hopelessness. No surprises there. However, I did learn some things, in retrospect from my reading, to do with what... amazing things mankind can accomplish during difficult times. One such learning that I think we can apply to our current situation is this: Where you direct your flow can provide power or cause ruin. Hear me out as there is a financial lesson here too. I promise. In the Black Canyon in the 1930s the Colorado River was raging as it always had. However with some ambition, some foresight and a serious vision to turn the flow into something useful the Hoover Dam was built. During the Great Depression! The dam was built to: 1. PROTECT people from floods (from disaster) 2. PROVIDE irrigation (supply provision) and; 3. PRODUCE power (improve lives) It produces enough power to supply 1.3 million people with electricity. What was once a river is now redirected to protect, supply and improve the lives of millions of people. So, whats the link to your finances? Equity. Equity is the difference between what you owe and what you own. If you can work out how much your property is worth, then take 80% of that number and subtract your home loan that gives you the amount of usable equity you have For example: Property value = $700k. 80% of that = $560k. You owe $400k $560k - $400k = $160k of usable equity. Now that you know that, the important question is what are you doing with it? Where is it flowing? As with the Hoover Dam, the river/your equity can be redirected into something pretty powerful, that can protect, provide and/or improve your life and the lives of others. Want some ideas on what to do with it or not sure how much usable equity you might have in the first place? Well, get in touch with us today to chat it through! Working this out for you is really the easiest part of our job and we love it. On lending news, you most likely already know that the RBA left rates on hold again yesterday, however many lenders are still doing some amazing deals and lowering their rates, especially on refinances, with low 2% rates and thousands of dollars of cashbacks. The Victorian government has now signed on to the Homebuilder scheme, which will provide some people with $25,000 to build a new home or renovate. In closing, during this season I hope and pray that you will be able to identify your current resources, be clear about where it is that you need to direct them and, once you do, that you will be poured out such provision that you cannot contain it. Until next time, stay safe.

04.01.2022 Banks extend mortgage holiday, but conditions apply Australias banks will let some borrowers extend their repayment pause by another four months, subject to conditions. In March, banks announced borrowers could pause their repayments for up to six months, ending in September.... Now, banks have said some borrowers can extend that period by four months, ending in January 2021 but this extension "will not be automatic", according to the Australian Banking Association (ABA) If youre able to resume making repayments after the six-month deferral, youll be expected to do so. If you cant, your lender might talk to you about restructuring your loan, such as extending the loan term or switching to interest-only payments. If nothing has been agreed by the end of the six-month deferral, your lender might extend it by four months but you will be expected to work with your lender during that grace period to find a long-term solution.

04.01.2022 Know the ‘state of your flocks’... Good read by my uber talented finance hubby

04.01.2022 Loyal borrowers charged extra on their mortgage Staying loyal to your bank could cost you thousands of dollars, according to the new Reserve Bank of Australia data. At the end of August, there was a gap of 0.29 percentage points between existing variable owner-occupier mortgages and new ones.... Existing owner-occupiers were being charged an average of 3.21%, while new borrowers were being charged 2.92%. There are two ways you can avoid paying this 'loyalty tax': Negotiate a rate cut with your existing lender Refinance to a new lender with a lower-rate loan If you do refinance, make sure the loan you're switching to doesn't revert to a higher interest rate at a later date. Banks compete hard for new customers, but sometimes take existing borrowers for granted, so the longer you stay with one lender, the more likely it is your loan is uncompetitive. If you’ve got a steady income and you’ve built up equity in your home, you could potentially refinance to a loan with a lower interest rate and lower fees.

03.01.2022 New 5.0-star Review: "I used fidget a few months ago for my first ever home purchase, and Im so happy that I did. James and Lee helped make the experience a lot less daunting and went out of their way to assist me in any way that they could. They were very responsive and would return en email or phone call pretty much immediately. Not only was the level of professionalism impeccable, they were extremely patient, honest and transparent, and so kind. Thank you Lee and James for making such a daunting process so easy for me. I will be using fidget again and I highly recommend this service to anyone."

02.01.2022 $25k HomeBuilder grant stimulates demand for new homes The $25,000 HomeBuilder grant has proved very popular, with new home sales jumping 77.6% from May to June, according to the Housing Industry Association. To be eligible for HomeBuilder, you must:... - Be an owner-occupier - Earn less than $125,000 for singles and $200,000 for - couples - Build a new home or substantially renovate an existing home - Sign the contract before 31 December 2020 - Start building within six months of the contract date (Other conditions apply. Click here for more details.) But beware of buying a property just to access the grant, as there are some other rules and conditions you need to know about. The tight December 31 deadline means you might struggle to get a building contract signed with a reputable builder by the end of the year. But let me know if you want to chat about the requirements or if youll qualify! https://t.apemail.net/c/nqkvivqfajjaobafdiaamdyfdibqka2udih