Troy McErvale. Mortgage Broker in Ballarat, Victoria | Financial service

Troy McErvale. Mortgage Broker

Locality: Ballarat, Victoria

Phone: +61 1800 203 040

Address: 339 Lydiard Street 3350 Ballarat, VIC, Australia

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

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• Financial service
• Mortgage brokers

24.01.2022 I have never seen anything like this. 1 year fixed rates from 2.19% 2 year fixed rates from 2.09% 3 year fixed rates from 2.14%... Variable rates from 2.80% If you are paying 4%, then you are losing at least $1,200 per year for every $100K you have borrowed. It is simply extraordinary.

24.01.2022 Following the Reserve Banks cash rate decision today, were pleased to announce that from 23 July, customers making principal and interest repayments on their ...home loans will see our variable rates reduce by 0.19% p.a.. We will also reduce rates for investor and owner occupier customers making interest only repayments on our variable rate home loans by 0.25% p.a. Additionally from 8 July, were introducing a new 5 month term deposit rate of 2.20% p.a., an increase of 0.20% to balance the benefits and costs of further interest rate reductions between our home loans and savings customers. Existing CBA pensioner customers will benefit from an additional bonus of 0.10% p.a.. This bonus is available only in branch.

20.01.2022 What life as a mortgage broker feels like at times

20.01.2022 As the situation around COVID-19 evolves, I recognise this can be a worrying and stressful time for you, your families and, if you are self-employed, maybe your employees. The financial services industry is more important than ever, and like all brokers and bankers I know, I am continuing to work throughout this period. We are all in the business of helping reduce the stress of dealing with lenders so we certainly encourage you or anyone you might know that needs some help w...ith anything to do with banks and lending to reach out. You dont need to be one of my existing clients. This service is for everyone. As a broker, we receive a lot of communication from banks and non-bank lenders about initiatives they have in place to help you if you are experiencing financial difficulty, or even if you expect to experience financial difficulty. The banks are on their best behaviour currently (post Royal Commission) and are genuinely prepared to assist those that proactively and honestly ask for help. If you are uncertain or cautious about doing this, then give me a call first and I can work through it with you. Ill give you as much time as you need. When dealing with lenders, please take into account the circumstances and context in which all of us are currently operating within when considering complaints. There is enormous pressure on staff due to low staffing levels to meet the unprecedented demand, branch staff who continue to front up to serve you each day, hardship staff, everyone they have their own problems too: probably the same ones you do. Most are probably working remotely, and everyone is doing their best. So lets be kind to one another - we are all in this together.

20.01.2022 Do you have bank-xiety? A new survey from ME Bank revealed 94% of Australians think banks dont act in their best interest. 95% agree banks sometimes put profits before customers and 92% believe banks sell products and services inappropriate to customers. A credible broker solves that problem.

17.01.2022 Brilliant result

17.01.2022 It can be difficult to keep up with the range of new initiatives and benefits available through government announcements over the past 2 weeks. Here is a quick snapshot. Aside from the government backed loans for Small to Medium Businesses, each bank is also implementing their own separate assistance initiatives.

16.01.2022 Look for the warning signs to make sure youre not caught out by scammers. Report hoax messages to [email protected]

14.01.2022 One of my colleagues had a customers loan application declined recently. The bank told the customer that they lied on the application about their pregnancy. The bank claimed to have researched them on FACEBOOK, and discovered the announcement. It is really important to be honest in loan applications. This customer may find it especially difficult now.

13.01.2022 Looking to get on the property ladder? Keen to start or add to your investment portfolio? This one's for you Property listed by Peter Burley & Jake Sim of ...Buxton Ballarat http://bit.ly/3Peas-3_5Aquila #Styledby3Peas #Ballarat #RealEstate #StyledtoSell

12.01.2022 Looking to get on the property ladder? Keen to start or add to your investment portfolio? This ones for you Property listed by Peter Burley & Jake Sim of ...Buxton Ballarat http://bit.ly/3Peas-3_5Aquila #Styledby3Peas #Ballarat #RealEstate #StyledtoSell

12.01.2022 Are interest rate cuts on the way?

12.01.2022 I've never seen a home loan rate this low before. 2.99% Fixed for up to 5 years... Unbelievable.

11.01.2022 Earlier this week, tens of thousands of Australian hospitality workers lost their jobs overnight. If you are one of them, help is available. Government have implemented new measures to apply, qualify for and start receiving Jobseeker Allowance. This will go a long way to helping make it through the next period of uncertainty. Meeting your mortgage commitments may also be a cause of financial stress. Sixty percent of Australians believe they would need to sell an asset withi...n 3 months of losing their income. So if it is not a point of stress today, perhaps it will be tomorrow. Or the next day. Our Australian banks have been communicating with all brokers, and have been clear that they are there to assist anyone who genuinely needs help. What options are available to you? Call your bank or broker to discuss what these options are, and to help find a solution that best suits your circumstances. We are all working as much ever.

08.01.2022 Have you ever heard of a loan to 100% of the value of the property? Without the need for tax returns? At a rate of 4.25% fixed for 3 years?... The loan must be for business purposes, and some other conditions apply. But its an incredible offer no matter how you look at it.

07.01.2022 Were reducing variable interest rates for home loan customers, including a reduction of 0.20% p.a. for owner occupiers and a reduction of 0.30% p.a. for investors with interest only repayments.

07.01.2022 When the bank has let you down, there is only one thing to do

07.01.2022 Two weeks ago, a client who I had helped in the past rang me and asked if I could help him again. He had an existing mortgage with ANZ, and he had asked at the branch whether he could access an extra $30,000 to update his car. After the banker assured him that he could, the bank declined his application. After asking a few questions, this didnt make sense to me. So we put the application together and submitted to ANZ again. We received a conditional approval in 5 days and ...a full approval in 9. Brokers understand lending. They have chosen this as their specialty. As a result, many can identify and mitigate potential obstacles early, resulting in a much greater chance of approval.

06.01.2022 Buy a home with no deposit?????? A question I sometimes get asked is "when is the best time to buy a home?" The answer is "when you can most afford it."... I have access to a lender who will lend you 95% of the purchase price, plus mortgage insurance, without genuine savings. I also have access to a lender who will lend you 5% deposit as a personal loan. In effect, you are borrowing 100%. You will just need enough to pay for your stamp duty and conveyancer and a few other costs. Though you could add that to your personal loan as well. You need a solid income and good credit history. Does that sound like you? If so, give me a call.

03.01.2022 Sometimes it can be difficult to keep up with lending policy changes introduced by lenders on a brokers lender panel. This time is one of the more difficult times. Each lender is dealing with covid-19 in their own particular way. On a positive note, most lenders are allowing brokers to identify you without needing to meet you personally. We can identify you over video calls or similar services. Most lenders are allowing borrowers who are experiencing financial hardship to ...apply for repayment deferrals without the need to provide excessive information or documentation. Some lenders are currently business as usual. It is not all positive news however. Some lenders are increasing rates, or reducing discounts. Others are reducing maximum lending ratios. Others are implementing more thorough employment verification procedures. One lender advised this morning that they will no longer accept applications for refinances. If you are thinking about consolidating debt to reduce you monthly cash flow obligations, it might be wise to consider taking action sooner rather than later. If you have formerly been on a fixed rate and have since rolled over to a standard variable rate, you are paying more than you need to be. Have a look at your other options with your existing lender or even within the broader market. I would suggest that a primary objective of most people right now should be to reduce household expenditure as much as possible. Given that mortgage expense is usually the highest or second highest expense of most households, use your time wisely to at least explore what is available.

03.01.2022 Whilst our banks and mortgage funders are dealing with a spike of financial hardship requests from existing customers, they are also continuing to assess and approve new loan requests. We are starting to see the impact of covid-19 on lending policy, especially given the ever increasing uncertainty around employment in many sectors. As part of their responsible lending obligations, it is important that lenders ensure new borrowers are able to afford their loan repayments with...out undue hardship. This also applies to existing customers seeking additional credit. Sectors that are particularly vulnerable include Tourism, Hospitality, Entertainment / Recreation (gyms, cinemas etc), Retail, Personal transport (taxis, Uber etc), Personal services (hairdressers, beauty practitioners) and Sports professionals and associated personnel. Many more industries may be impacted as time progresses. The impact of this is that lenders may ask for additional information around your employment and income than normal. Your broker or banker can help you through these requirements, as well as create some commentary that will support your application and increase its probability of approval. This policy will apply to all new applications, as well as applications that have not been approved yet. In contrast, other occupations such as Nurses & Medical/healthcare professionals, Teachers, IT consultants and Ambulance Officers, Fire Fighters and Police Officers will largely remain unaffected by these policy updates. This is a rapidly changing market environment, and policies will continue to change and adapt. As an example, yesterday the government announced a significant package for employers to retain and pay staff a minimum wage, even if they have no work for staff to do. We are yet to know specifically how that will impact applications, but will continue to monitor and report to you as this continues to develop.

02.01.2022 I was contacted by a new client recently who was a friend of a friend, after being told by his own bank that they couldnt help. He had a good business, but had invested much of his profit into his own property, leaving him short of cash for paying bills. We refinanced the same property, which was worth considerably more than he thought due to the improvements, and accessed a further $100k.... The loan was fixed for three years at 2.89%, which meant his payments were about the same as they were before contacting me. Great result. Brokers can help you see solutions you might not think of yourself.

02.01.2022 Ive never seen a home loan rate this low before. 2.99% Fixed for up to 5 years... Unbelievable.

01.01.2022 Thank you to everyone that contributed.