Finance Works QLD Pty Ltd | Businesses

Finance Works QLD Pty Ltd

Phone: Barry 0423 807 414 or Warren 0423 807 413

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21.01.2022 What are the extra costs of buying a home? Application & establishment fees, stamp duty + more. When taking out a mortgage, many people forget to consider the associated fees and expenses. Here are some of the extra costs that you’ll need to consider when you take out a home loan.... Home loan application fees Most lenders charge a home loan application fee. This can range from loan to loan, and covers: Loan contracts Property title checks Credit checks Attending a settlement Mortgage fees and costs Mortgage establishment fees Lenders generally charge a mortgage establishment fee a fee for setting up a mortgage. Property valuation A third party chosen by the lender, is appointed to determine the value of your land and improvements. Mortgage registration Your Mortgage deed needs to be registered with the government. Mortgage stamp duty Some State Governments charges stamp duty to register your mortgage. Lenders mortgage insurance If you don’t have 20% of the purchase price or the value of the property, the lender will require you to pay for a lenders mortgage insurance policy that covers their risk in the event you default on your repayments. Property fees and costs Building, Pest and Electrical Inspection fees It’s wise to have your property inspected for any structural or electrical problems and for pests (e.g. termites). Stamp duty Governments charge Stamp Duty to transfer the ownership of a property. Registration of transfer fee The new owner of the property needs to be registered at the Land Titles Office. Legal fees You generally need to pay a Solicitor of Settlement Agent to handle the transfer of ownership of the property on your behalf Home & contents insurance Most homeowners insure their home and contents against a range of threats: burglary, fire, storm, etc. Lenders insist that your property is insured while you have a mortgage. Life and income protection insurance Borrowers should consider protecting their incomes and themselves while they have a mortgage. Utility costs Connecting electricity, gas and telephone can attract a fee. Council Rates Your local council charges rates to cover garbage collection and a host of other services. Water Rates The water corporation charges rates for the supply and upkeep of water to your property. Body corporate fees If you buy an apartment or Strata Titled property, body corporate fees are charged, and some fees can be significant particularly if the building is in need of a major work (e.g. concrete cancer, security upgrade, new hot water system, etc) or if there are lifts, pools and other communal facilities. Maintenance costs Don’t forget to make provision for regular maintenance on your home even if you decide not to undertake significant renovation. To learn more about the hidden costs of buying a home, talk to us today. Barry 0423807414 or Warren 0423807413 An MFAA Approved finance broker is not your average mortgage broker.

20.01.2022 To our valued clients and their families: We hope we find you and your family safe and well. During these unprecedented times, we want to let you know that we are here to help, and are committed servicing your financial needs as usual to deliver the best outcomes for you. As the COVID-19 (coronavirus) situation evolves, we are ensuring the safety, health and welfare of our team, our clients and others with whom we interact, by following official Australian Government advice.... With the vast array of information available about COVID-19, we encourage you to view the Australian Government Health Department website for the latest and most accurate information. Is this the time to review your finances? Many of us are working from home and spending more of our free time at home too, take advantage of this time to sit down and examine your finances. What are your goals? Are you on track to reach them? What do these economic changes mean for you? Some people will be looking into financial uncertainty. We are available to assist you in managing this. We want to ensure that you understand your redraw facilities, offset accounts, your rights in regard to mortgage 'repayment holidays', applying for financial hardship with your bank, and how you might take advantage of the RBA rate cut. We understand many people in the community are self-isolating, quarantined or practising social distancing. We'd like to reassure you that you do not need to leave your home to seek advice or even apply for finance. Please reach out to us and we can find a solution that works for you, whether that be via a video or phone call. Our business has technology platforms to enable us to do business efficiently without the need for face to face interaction. We can help you navigate lenders fast-moving policy changes Banks and lenders are quickly making changes to their requirements to adapt to these unique times we find ourselves in. We are in regular communication with banks and lenders so that we can be across these changes and help you navigate them. We are online and available. Cheers Warren & Barry.

14.01.2022 HOME LOAN INTEREST RATES HAVE RECENTLY REDUCED. HAS YOURS? With The Recent Interest Rate Reductions, The Time Is Now To Review Your Financial Health. Contact us for a no obligation Home Loan Health Check to make sure you are getting the best out of your mortgage. Finance Works provide mortgage solutions to suit your specic circumstances, potentially saving you both time and money. We compare hundreds of products to bring you the right loan, tailored to your needs.

10.01.2022 With record low interest rates and some fantastic lender incentives out in the market at the moment now may be the time to review your current home loan to see if there are any savings available to you. We try to make the process as easy as possible and we have had some good successes recently with our clients who have been very happy with the result. If this is something you would be interested in just let us know and we can start looking at some options for you.

04.01.2022 Merry Christmas and a Happy New Year from your team at Finance Works, we will be open throughout the end of December and into the new year and we look forward to working with you all in 2019. We are proud to support the following worthy causes this Christmas; The Salvation Army (https://salvos.org.au/donate/make-a-donation/donate-online/? appeal=cachristmas) ... The Smith Family (https://charity-gifts.thesmithfamily.com.au/). Please remember to stay safe on the roads and beaches this holiday.