Fundwise Capital in Melbourne, Victoria, Australia | Mortgage brokers

Fundwise Capital

Locality: Melbourne, Victoria, Australia

Phone: +61 3 9088 7066

Address: 518 Elizabeth St 3000 Melbourne, VIC, Australia

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

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25.01.2022 $35,000 total Government Cash Grants for Eligible First Home Buyers (HOT NEWS for WA: additional $20,000 Building Bonus on top of these) As you are probably aware now, HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. You can find the summary of the key points in the attached images and further details in the links at the bottom of this post. I want to focus ...Continue reading

25.01.2022 As expected, the Reserve Bank (RBA) reduced a range of interest rates following its monthly board meeting. The cash rate was reduced from 0.25% to 0.10%. In March, the RBA began setting a target for the 3-year government bond yield by buying and selling bonds across the curve (called yield-curve control). The target was set at ‘around’ 0.25% and was reduced to 0.10% today.... In a new move, the RBA will introduce a separate bond-buying program (i.e. quantitative easing) for maturities beyond three years. It now plans to purchase bonds in the 5 to 10-year range, thus impacting on yields further along the yield curve. In its effort to support businesses and job creation, the RBA in March also introduced a Term Funding Facility (TFF) whereby lenders could borrow from this fund to on-lend to clients. The borrowing rate from this fund was initially set at 0.25% and today was also reduced to 0.10%. The Banks are still taking their time to decide on whether to pass on the rate cut. CBA is the first major bank to make the move to reduce their interest rates on both Home Loan and Business Loan products. The policy package is designed to work via three channels. Lower lending rates should lift cash flows and so lift spending. There will be downward pressure on the Australian dollar because of lower bond yields. Lower yields and access to credit will put upward pressure on asset prices. This will strengthen personal and business balance sheets allowing more scope for spending. https://www.fundwisecapital.com.au//how-much-can-you-save-

24.01.2022 Fundraiser announcement! https://www.facebook.com/donate/148718633357100/ Dear friends,... Christmas is the time of gratitude and sharing. This year, we will donate to Children First Foundation and would like you to join us in contribution. Our fundraising goal is $2,000 and our company, Fundwise Capital will match every dollar donated up to $2,000. Children First Foundation is one of the charities that Kien Phan's sister, also our home loan client :D, Alice Phan used to work for. The organisation and what they do is close to our hearts as Alice was not only an employee there, but she was also personally involved with helping a number of children from Vietnam to complete their medical procedures in Melbourne. Also, one of the reasons that we chose this local, North Melbourne based, charity is because we feel that our humble effort will be more meaningful to them than to other more popular charities with potentially larger budgets. In trying to get more attention, we have decided that our team, including @Victoria Nguyen, An Sy and myself, will be doing 3 hours of Among Us gameplay streaming. Phuong Nguyen will not be playing but will be watching and cheering for us. We are all happy to agree that we do not have to do a marathon The live stream is scheduled for this Saturday 19 December 2020 from 12.00PM to 3.00PM. Send us a PM if you would like to join the game too. To donate, please go through the Facebook fundraiser event that I have created via the link below. You can start to donate right now until 23/12/2020. https://www.facebook.com/donate/148718633357100/ P/S: We have grown more ambitions since the time we made the video so it is $2,000 just to confirm, not $1,000 like in the video Sincerely yours, Kien Phan On behalf of the team at Fundwise Capital.

24.01.2022 ' . ! . - Do not miss out on claiming Working From Home expenses on your Tax Return. There is a new shortcut method to make it more simple to claim the expense. Speak to your accountant to ensure you maximise your tax deductions.... https://www.ato.gov.au//deductions-/home-office-expenses/ . Protective items FOR WORK due to Covid-19 are tax-deductible expenses https://www.ato.gov.au//individuals-frequently-asked-que/ . . On 21 July the government announced proposed changes to JobKeeper including an extension through to 28 March 2021. These changes do not impact JobKeeper payments until after 28 September 2020. - An extension of the program to 28 March 2021 - Turnover tests to determine eligibility - Tiered payments for eligible staff from 28 September to 3 January 2021 AND from 4 January to 28 March 2021 https://treasury.gov.au/coronavirus/jobkeeper/extension . () Open banking is not yet in effect but soon will be. We just don't know exactly when and how it is implemented but you should be aware of and prepare for this. Essentially, starting with the Big 4 banks, your data can be openly shared between the banks. When implemented, this may be a part of the process when you apply for credit at the banks. CCR: Your credit report shows current and historical data of your credit applications, loan accounts and monthly conduct for at minimum 24 months. Make sure you keep your account and loan conduct in check before applying for credit! . - New placements available at CBA (5000 placements), NAB (5000 placements) and 25 non-major lenders (combined 5000 placements) https://www.nhfic.gov.au/what-we-do/fhlds/ Please stay safe, positive and healthy! Kien Phan On behalf of the company.

21.01.2022 ' $ -! The enhanced instant asset write-off scheme, which was due to expire on 30 June, has now been extended to 31 December. From , the threshold will reduce to $1,000 only and will only be available for small businesses with an aggregated turnover of less than $10 million.... Of course, if you do it now, the write-off will be for FY2021. However, the extension will be helpful in that if you are planning to purchase within this financial year, buying before the end of the year may allow you to depreciate the full cost of the asset instantly. Keep in mind that everyone will get busier towards December. This includes vendors/suppliers (e.g. car dealers), banks/financiers, your business and yourself. So if you plan to buy, plan and do it earlier if possible. 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 commercial and private use, you can only claim the business portion : https://www.ato.gov.au//Simpler-/Instant-asset-write-off/ As always, please do not hesitate to contact us directly if you need help. Kind regards, & .

20.01.2022 Reminder: A few months ago, we did not expect how the world looks like today, especially Australians. Until the end of July, the Unemployment rate increased to 7.5%. The cost to Victoria during the second lockdown is up to $1 billion a week, and that will fall heavily on businesses. Therefore, banks announced the next stage of support for bank customers, who are ‘still’ struggling financially due to COVID-19. Customers will be ...Continue reading

19.01.2022 Livestream - Fundraiser for Children First Foundation - 12.00PM to 3.00PM

19.01.2022 % Good news for First Home Buyer (FHB), the Commonwealth Bank, NAB and several other banks have started accepting requests from the first-home buyer to sign up for First Home Loan Deposit Scheme (FHLDS) under the New Home Guarantee. On Saturday 3 October, the Government announced that the FHLDS had been extended by 10,000 places as part of the 2020-21 Federal Budget. The New Home Guarantee will support ...10,000 eligible Australians in this financial year to get a new first new home. This scheme supports FHB to buy a house with only 5 to 20 per cent of deposit. The difference between the original FHLDS and the New Home Guarantee is that the new scheme only allows FHB to build or purchase brand new homes, while the previous scheme allows FBH to buy any type of dwelling. All applications for the FHLDS need to be direct with one of the scheme's participating lenders. NHFIC doesn't accept applications directly from first home buyers... ? ? ! Check our website for full answers: https://www.fundwisecapital.com.au//major-banks-open-the-5

16.01.2022 - : - As customers approach the end of their six-month loan repayment deferral period, banks are implementing phase two of their COVID-19 support. : ...Continue reading

15.01.2022 In our line of work, we come across valued customers of many different backgrounds and circumstances. They all have a history and carry a unique story to share. Roza came to us when she was looking to help one of her daughters in building their first home. We got to know Roza and her two daughters more throughout our engagement. We get to know her as a loving mother and a dedicated aged care worker. Her life story is an inspiration and needs to be shared.... It is one of hardship, perseverance, and belief in oneself. Roza’s journey to Australia with two young daughters to start a new life is set against a backdrop of war and despair in her native country Ethiopia. She has rebuilt her life and became an aged care worker for our most vulnerable, the elderly and frail. She holds their hands, is someone to talk to, be that familiar face and be that emotional support to someone’s loved one. Her patience and loving nature do define her and indeed help with caring for our elderly. She has dedicated herself for most of the last ten years and will continue to do so through these difficult times. Along the way, she brought up two wonderful daughters who are also in our frontline healthcare force. She also managed to build a decent property portfolio and is now helping her daughters to start theirs. , . : ? : , : ( ). , p; . . , , . , . , , , . : , ? ? : , , . , , , . : . ? : , ’ . Roza, we are glad to be of your service and to have fulfilled your family’s homeowner dream. It has been an absolute pleasure getting to know you, and we thank you for helping our community! I would like to say a big thank you to Roza for sharing her inspirational story with us. Kind regards, & .

15.01.2022 With the current economic recession, you should be extra careful with investment decisions. This article from Cherie Barber presents a reasonable argument FOR investment during a recession, given that you do your research and know what you are doing. However, it is still heavily based on the assumption that the property cycle of 7 to 12 years, from bust to boom, is "inevitable" a good read overall.

15.01.2022 ? Over the past few months, we have spoken to several clients who accessed their superannuation early as part of the ATO’s Early Release of Super program. Because this action may indicate that the client is likely to experience hardship, banks didn't like it and some banks communicated to brokers that they definitely will NOT accept loan applications for such client. However, we have seen that the financial impac...ts of the recent events on people can vary vastly. People and business in some industries lost their jobs and income completely while others were able to maintain their income. Banks are starting to realise this and today, despite the recent escalated situation in Victoria, we received formal communication from a major bank, which we deal with a lot, providing its guidelines around this matter. (Not sure if I can specify the name of the bank here because the communication was for brokers only so far and not yet public) Below is the simplified summary of the key points from the bank. And we suspect that most banks will, soon enough, take a similar stance regarding this because we believe it is a reasonable approach where each individual's specific circumstances are considered. ? Yes! If you withdrew the funds with genuine intent, we can still apply as per usual with sufficient explanation for the bank's credit officer to take into consideration. 1. You accessed your super due to Expected income reduction and/or Uncertainty of employment; AND 2. You subsequently maintained your income; AND 3. You are not currently in financial hardship or expected to be in financial hardship in the future. e.g. You were told their work hours would be cut and withdrew funds as a ‘safeguard’, but subsequently kept your normal work hours; You felt uncertain about your business's performance and withdrew funds as a 'safeguard', but subsequently, your business's income were maintained or just slightly reduced. ? No! Early accessed super is not an acceptable form of genuine savings and equity, and if applicable, you will need to meet the current Savings and Equity requirements. These funds may only be used as ‘funds to complete’ where the funds were accessed within the ATO eligibility guidelines. , , 90%, 5% ' Applications should not be submitted for customers who accessed the funds outside the ATO’s eligibility guidelines and were not going to be financially impacted at the time. Please get in touch with us if you have any question. Regards, Kien Phan and Phuong Nguyen.

15.01.2022 Start familirising yourself with commercial property investment with an article written by our commercial and business finance specialist Kien Phan

13.01.2022 This week, Victorian students returned to classrooms for the first time since August 1st. Almost 600,000 Victorian primary schools and Year Seven students have come back to physical classrooms today after more than two months of remote learning. Remote learning will be remaining for another two weeks for all students in Years Eight, Nine, and Ten, who will be returning to classrooms on October 26. We would like to send the best regards for teachers who have worked hard to deliver the best effective online learning for the last couple of months :)

12.01.2022 ? There are costs such as fees, taxes and charges when we buy a property that you should know beforehand. These fees will be included in your purchase as costs that you will be aware from your agent, broker, conveyancer, or lawyer for example: You’ll need a deposit of 20% plus costs. We’ve listed together an all-inclusive list of these fees to take into payment when buying a property. ... When you buy a property, the costs can include below. Let’s take a purchase of $600,000 in Victoria as an example. Deposit: typically 5% to 20% of the the purchase price, for example, 10% - $60,000 Stamp duty: Calculated based on the purchase price and applicable stamp duty rate of the state for VIC: $32,728.40 (waived for first home buyers) Transfer fee: Calculated based on the purchase price and applicable stamp duty rate of the state for VIC: 1,502.50 (waived for first home buyers) Title search fee: .... (To be continued) If you need more information or any further concern, please do not hesitate to contact us. Kind regards, & . Read more in our website: https://www.fundwisecapital.com.au//what-are-the-hidden-co

09.01.2022 Important Information regarding Australian Banks' Support for Customers - 2nd post - Government's Coronavirus SME Guarantee Scheme The Government will provide a guarantee of 50% to SME for new Unsecured Loans. This will help businesses access funding more easily because the Government promised to repay the bank 50% of the loan if the borrowers default on the loan under this Scheme....Continue reading

08.01.2022 The easing of restrictions on inspections and public auctions come just in time for the spring property market. Hopefully, we will see positive effects on the number of listings, clearance rates and property prices. https://www.realestate.com.au//melbourne-spring-property-/

06.01.2022 " " To spread awareness of the World Mental Health Day on 10 October and the National Carers Week from 15 to 21 October, we are proud to share the story of our beloved team member . We hope that this lovely story will warm your heart and encourage you to share it and touch base with people who are important to you. - & "My name is Vicky. I'm currently working as a Marketing and Communication Speci...Continue reading

05.01.2022 % ! Tax relief for Victorian homebuyers has been unveiled in Tuesday’s state budget, which applies to Victorians who buy a new home before next July.... You will receive a waiver of 50% on stamp duty if you purchase a new home, and 25% if you buy an existing home. The period of contract must be between today, 25 November and 30 June next year under the tax relief plan. This is considered as support at attracting Victorians back into the property market after a terrible year in which the state economy has been damaged by the effect of the pandemic and summer bushfires... Read more on our website: https://www.fundwisecapital.com.au//50-tax-relief-for-vict If you are not sure if you are eligible for or are feeling confused, then get in touch. Fundwise Capital Team is well in understanding what those new plans actually mean and how they are helpful for your mortgage loan, and we can guide you through. #fundwisecapital #melbourne #australia #mortgagebroker

02.01.2022 We have realised more than ever how important our friends and family are to us during this time. Let's take time to reach out to them. They will love to hear from you today, just as much as you will be happy to receive a phone call from them.

02.01.2022 $25,000 HomeBuilder - A significant cash incentive available to people who are planning to build a new home or complete a substantial renovation. It is a meaningful amount, especially to first home buyers who are saving up and need that extra cash to feel more comfortable to put down the deposit for their first home purchase. Further details are to come but please leave your questions here and we will answer them as soon as we can!

01.01.2022 . : The Federal Government has announced that JobKeeper will exist until at least March 28 next years. JobKeeper 2.0 will fall depending on the following circumstances from September 28. Here’s what you need to know: ... The employer must re-apply for the payment from September 28, 2020 and be able to demonstrate that they have lost 30% or more of their turnover this year. However, if the employer has a turnover of more than $1 billion per year, they will need to demonstrate that they have continued to suffer a loss of 50% of turnover during the pandemic. The reference date for assessing which employees are eligible for the JobKeeper Payment is now 1 July 2020 with effect from 3 August 2020. The reference period for employees regarding their hours worked will be the two fortnightly pay periods prior to 1 March 2020 or 1 July 2020. The period with the higher number of hours is to be used for employees who were eligible at 1 March 2020. The current JobKeeper rate is $ From September 28 to January 3, 2021, if: - You used to work 20 hours or more, you will receive $ per fornight - You used to work 20 hours or less, you will receive $ From January 4 to March 28, 2021: - Full time workers to receive $1000 flat rate per fortnight - Employees who worked 20 hours or less during February 2020 will receive $650 per fortnight. If you have any concern that this change will effect your loan application, please do not hesitate to contact us. Kind regards, & . Source: 9 News

01.01.2022 - ? Tesla makes $145 profit in three months despite COVID-19 shutdown Despite the COVID-19 shutdown from March 23 to May 11, Tesla’s only US assembly factory in Fremont, California still overcame the pandemic-related shutdown to increase the surprising net profit of AU$145 million. ... The electric vehicle CyberTruck concept is considered as the most Tesla’s highly awaited. The Australian price for Tesla Cybertruck has not been released yet. According the guide price in US, the price will start from US$39,900 - $69,900. You can order now in Australia with $150 deposit: https://www.tesla.com/en_au/cybertruck/design#battery What are you waiting for?