Brett Colley in Maroochydore, Queensland | Mortgage brokers

Brett Colley

Locality: Maroochydore, Queensland

Phone: +61 7 5452 7979

Address: 18 Church Street 4558 Maroochydore, QLD, Australia

Website: http://www.formula1finance.com.au

Likes: 501

Add/Update information

Reviews

Tags

• Property
• Loan service
• Mortgage brokers

24.01.2022 Looking to invest? Your reason for borrowing will influence the type of loan available to you and how much you can borrow. Investment loan criteria is different to owner occupier criteria. With incentives, tax deductible expenses, depreciation items and potentially less risk with serviceability due to rental income; an investment property can make for a more secure proposition for most lenders. But you need to have all these details ready to go - especially in a tight property market.

22.01.2022 Offset accounts and redraw facilities are both common home loan features. What are the similarities and differences? Similarities: can help you pay off your home loan quicker; can help reduce the amount of interest charged on your home loan; are generally available on many variable rate loans; may involve a fee. Differences: the degree of accessibility; the effect of withdrawals on home equity; the difference between the value of your property and the amount you still owe on... your home loan. Used well, these features can play a significant part in your finance goals. Call us if you don't have one or don't know if you have the right option for you.

21.01.2022 Looking to make the most of home this Christmas? Be it a jetski, a caravan, a roadtrip or putting in a pool - lots of us are looking at different ways to live life this holiday. BUT, remember there are many ways to finance these big-ticket items and some are better than others. 1. Save for it! Put some extra aside and you won't have to worry about interest in the long-term, however, you may be prepared to wait! ... 2, 3 and 4 are all un-secured finance solutions. This includes credit card, buy-now-pay-later and personal loans. Only look at these if you can pay them off on time and within the interest free period. Some of these options have interest rates of 20%... 5,6,7,& 8 are secured finance solutions. These include using a redraw facility, funds in an offset account, equity in your home or refinancing. Whilst these will give you better interest rates, beware the time it will take to repay. If you can't make extra re-payments then it will cost you more than you thought. Call us if you have any doubts about your best option and we can help calculate all the hidden costs.

14.01.2022 If you are thinking of investing in property, have you considered that you may not need to save a deposit? Maybe you are in a better financial position to invest than you think? The two things you need to get started are equity in your existing home and a surplus income to meet the shortfall in expenses after your tenant's contribution. Then call us to do the hard yards!

09.01.2022 If you are thinking of your property as a long-term strategy, then ask yourself these key questions. And be honest with yourself! Where do you want to be in five or 10 years time? Do you want to live near family, friends or work?... Will your family grow in the future? What are your future work and income possibilities? Setting out your future home must-haves will help you decide if you can achieve these in your current home or need to look at your other options.

08.01.2022 We will be closed between 24th Dec - 4th Jan. Wishing all our clients a wonderful festive season!

07.01.2022 Wishing all our clients a very safe and happy Easter from the team at Formula 1 Finance.

04.01.2022 While there is no maximum age limit to qualify for a home loan, lenders have a responsibility to ensure that borrowers can repay the debt. In the case of 'older borrowers' (those over 50), there is usually a requirement to provide a mortgage exit strategy to show how you will repay the debt as your working life decreases. Don't go it alone on this one! We can help you present your plan in a way that gives you the best chance with lenders.

03.01.2022 New research by Westpac has confirmed what we are seeing - COVID-19 has had a huge impact on first home buyers with demand from these aspiring property owners doubling in recent months. Interestingly, the research also found that almost half of FHB's are re-considering WHERE they want to buy. As we know, home offices and green spaces are high on the wishlist, but despite lockdowns and restrictions, proximity to a CBD is still a key factor.

02.01.2022 Nationally, and here on the Sunshine Coast, we are seeing a trend of much higher demand for fixed rate products, especially over shorter loan terms. It's easy to see why. One bank at least now offers a sub 2% fixed home loan rate and borrowers want to take advantage of this historical time in property finance. But, before you sign on the dotted line, we recommend talking to us just to make sure you have the whole picture. With low fixed rates come potentially HUGE break fee...s if your circumstances change or your budget blows out. As always, seeking advice BEFORE you sign can have a significant impact on your wealth position in 3-5 years time.