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Green Edge Finance

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24.01.2022 With 10,000 additional places released this month, what makes you eligible to take advantage of a 5% deposit without having to pay Lenders Mortgage Insurance (LMI)? - Singles earnings are no more than $125k, and for couples it's $200k per year - You will need your 2020 Notice of Assessment, which means you'll have to complete your tax returns for 2019-20... - Only first home buyers are accepted - It can only be for an owner-occupier property, so investments are not supported - You must be an Australian Citizen, even as a couple - The 5 % deposit must be of genuine savings i.e. you have saved these funds over time, received gifted funds, or the First Home Buyers Grant can also be considered. However, if you have saved more than 20% for the deposit, then you won't be eligible for this scheme As an example, you would save approx. $22k of LMI charges for a $650k property, which is a significant amount to lower your deposit. A mortgage broker can help validate the criteria above for your circumstance and let you know whether you're eligible for the scheme; speak to yours, to find out. #firsthomeloandepositscheme #firsthomebuyers #brokerduediligence See more

24.01.2022 Our client had been declined a loan by 3 lenders, they had given up all hope to secure their future retirement home. After contacting us, we found the right solution for their circumstance, within the tight deadlines. This highlights the very reason Mortgage Brokers are valuable to anyone seeking finance as we work hard to find the right solution, for you, even when it seems impossible. Since starting our business as Mortgage Brokers, we can honestly say it's been an a...bsolute pleasure to help people purchase their investment properties and homes, to lay down a path for their future. It's why we specialise in knowing our lenders policies, so you don't have to. #testimonial #mortgagebroker #happyclient See more

24.01.2022 How have #Lenders reacted to #Coronavirus impacts? What are the changes? 1) Interest rates have dropped significantly, as low as 2.09%... 2) Face-to-Face interviews are no longer required, instead opting for video meetings 3) Loan Repayment pause #loanrelief for those in financial difficulty 4) Lender's back-office staff are working from home What does this mean for you? 1) You can make significant savings from your current home loan repayments and use it for times like these 2) You can stay at home and get your #homeloan refinanced 3) Your Lender/Broker can provide assistance to place your repayments on hold (if financially struggling) 4) Loan approval speed has been impacted but staff are working tirelessly to help those in need Now's the time to consider #refinancing your #homeloan to lower those repayments or switch to an Interest-only loan. Image Source: ABC

22.01.2022 This is the first investment property I ever bought in Australia: A 3 bed, 2 bath house in QLD. I did a lot of research before buying and chose it because it:... - Sat on over 600m2 of land, which meant an opportunity to subdivide and increase it's value further - Had a newly renovated ground floor which would appeal to renters - Was located close to a university - The owners were downsizing and needed to sell ASAP Despite all this, I still felt hesitant and a little scared when buying. Would hidden problems with the property pop up? Would it go up in value? Should I have bought in the UK where I was more familiar with the market? In the end, I chose to trust my research and bite the bullet. And boy, I'm glad I did. I bought it for $338K back in Dec 2017. I spent $15K on a renovation, which lifted it's value to $384K and increased the rent from $335pw to $365pw. Today, the property is worth around $400k. Looking back, it wasn't as difficult or scary as I thought it would be. I had done the research and all I needed to do, was to make the choice to follow through. If you're thinking of making some important life choices, don't be scared of diving in. 99% of the time, if you've done your homework, it's not nearly as scary as it seems :) #propertyinvesting #lessfearmorefreedom See more

21.01.2022 My client started a new job and like most, he thought he couldn't refinance his investment property, whilst on his probationary period. He came across my recent Linkedin post and reached out to me to ask whether it was possible. We did more than that. Not only did we successfully refinance his loan, we halved his repayments by finding a better rate and switching him to an interest-only loan. Now his savings could be put towards paying off his own home loan and his child...ren's school fees. It's always a good idea to speak with your broker to find out your options, no matter your assumptions. It's our role to keep up with the changing policies and products so we can find the right fit for you, when you need it. We are the gateway to provide you with greater options with more lenders, not restricted to what your bank has to offer. It's been an absolute pleasure to have helped my client and his family, resulting in a fantastic outcome. #testimonials #brokers #happyclient #probation #refinance See more

18.01.2022 You've got antiques and fine wines to name a few, but there's not many things that fetch a higher value, the older it gets. After all the drama with Mascot Towers and Opal Tower, that's precisely what's happening with some older apartments. Buyers are being more cautious buying fancy new apartments due to concerns over quality...... Instead they are going for 30 - 50 year old solid brick flats This flat in Randwick sold for $290k above it’s reserve price With some renovation work, they can convert it into a really nice home, having peace of mind over the construction quality. Which one would you go for? New or Old?

18.01.2022 Have you managed to set up your Digital Driver's license yet? With a bit of luck, mine worked today using the Service NSW app which had a reported 50k downloads yesterday afternoon causing delays. It does show the demand is there and I'm looking forward to all cards being digitised in the near future including medicare and healthcare making the wallet/purse a redundant accessory. ... I'm excited for the future where the physical house/car key will be replaced too as some car manufacturers like Tesla have adopted. What are your thoughts? https://www.businessinsider.com.au/new-south-wales-nsw-digi

15.01.2022 Investing in property can be a way to quit the rat race years (or even decades) faster... Or simply to give you and your family greater financial security. However, a single mistake can be costly and leave you wishing you had never done it at all. Fortunately, with the right precautions, you can avoid the heartache so many people experience... Here are 5 tips to help you invest successfully in property, from my experience of buying multiple investment properties. 1) Unit/House - Depends on the market however houses show larger capital growth over units. 2) Location - Focus on areas of gentrification, close to universities, hospitals and shopping centres; coastal areas or close vicinity to the city. 3) Remove the Emotion - Always look at a property with an objective mindset, this way you make a rational decision with your purchase. 4) Building & Pest Inspections - It's always a good idea to have these inspections to uncover the true condition of the property. 5) Insurance - I play it safe and lower my risk by taking out reputable landlord's insurance.. If you'd like more tips to help you avoid costly mistakes and secure a better financial future, I've put together a free property investors guide. Check it out here: https://www.greenedgefinance.com.au//investing-in-property/ See more

15.01.2022 If you had to live on HALF of your current income for the next 12 months, would you be ok? How about for the next 5 years? ... Or how about for the rest of your life? A lot of us like to think that life will only get better and better. But unfortunately, sometimes unexpected things happen in life. A sudden illness, workplace injury, a loved one needing extra care, workplace redundancies and industry shifts are things which can and DO happen. And when they do, they can cripple or even sometimes destroy your ability to earn income from your job. And if your job is your only source of wealth and income, it can be devastating. Now, this was one of the key reasons why I started my own personal journey investing in property. I didn't do it to 'get rich'. I just wanted more security, knowing that even if something happened, I would be able to look after myself and my family. Fortunately, it's helped me do just that and so much more. If your job is your only source of financial security - let me encourage you to take the steps towards changing that - whether it's property or something else. So that if the worst ever does happen - you'll be able to not only have what you need to weather the storm yourself, but for the ones you love too. See more

14.01.2022 Had any thoughts on buying your first home, but held back due to falling property prices? Now might be the right time to get in. According to experts, we may have hit the bottom already, with prices forecasted to rise in the next year.... Add lower rates, an ease in serviceability criteria from banks and lenders - it could be good timing to buy your first home. https://buff.ly/2OKGES9 #buyyourfirsthome #firsthomebuyer #propertyprices

13.01.2022 Jobs. Most of us start out liking the ones we have (or even loving them). But as time goes on, most of us tend to get bored, frustrated or even jaded by them.... Now sometimes you have to stick with a job because of external circumstances. And there's nothing wrong with that. But most of us have far more options than we think. I remember when I hit that 'breaking point' in my career. I'd spent over a decade in IT. And I woke up thinking, "Am I really going to be doing this the rest of my life?" And truth is that I couldn't (at least not happily). So I carved out time during the evenings and on weekends and started looking at ways to help me get out. I chose property investing as a way to build a financial 'safety net' - because it didn't require me needing to give up my job, and because 'bricks and mortar' was something I could easily understand. And eventually, through diligence and perseverance, it did end up giving me the option to switch paths, into something I now enjoy :) Whatever ends up being your 'vehicle', the most important step is simply opening up your eyes to the possibility that things can change, and then being bold enough to take the first step. #propertyinvesting See more

13.01.2022 Happy Friday! I came across this great article with some very useful tips for anyone in my network with an existing home loan, who are keen to pay off their mortgage faster. Feel free to get in touch for an informal chat to see how I can help you save money on your mortgage and pay it off sooner. ... With the recent cash rate drops, there could be some real opportunities to make some great savings. Green Edge Finance #refinance #refinancing #savingmoney

12.01.2022 A great insight into the Sydney Housing Market over historic market crashes in Australia. > Oct 87 - Black Monday Stock Market Crash - Property market held firmly followed by an increase in value due to lower interest rates. > Dec 97 - Asian Financial Crisis - Property market activity fell by 22%... > 2001 - Tech Wreck - Property market sales were down by 34% > 2007/2008 - Global Financial Crisis - Property market activity dropped by 23% > Apr 2020 - #Covid19 - Expecting #propertysales activity to fall based on: 1) Rise in #unemploymentrate 2) Tanking consumer confidence 3) More cautious lending practices 4) Restrictions to open homes and #Auctions However Property Values are expected to hold due to: 1) Government #stimuluspackage 2) Leniency from Lenders for mortgage #repayments 3) Low Interest Rates #propertymarket #housingmarket https://youtu.be/oKPLUbeU-fs

12.01.2022 Where are we at with the Property Market? For the last couple of months, there have been forecasts of the property prices falling between 5% and 30%, however, Corelogic's April 2020 Housing Value Index shows an overall 0.3% increase. #covid19 has caused a drop in listing volumes and property activity but the #propertyprices have held up. This could be due to the following:... - Repayment holidays on mortgages so fewer people are forced to sell, with up to 392k home loans deferred - Property Sales are deferred by owners causing a shortage of supply - Record low interest-rates enticing people to buy property - Government stimulus has kept consumer demand high Even though lenders policies are tightening up, I still have clients who have successfully #refinanced and #purchased both investments and owner-occupied homes within the last month. #homeloans #propertymarket #housingvalue

09.01.2022 What could the Homebuilder Grant mean for you? Here's a simple example of the costs & savings likely to be involved when buying a new home as a First Home Buyer (for a house and land package) First, you'll need to find out how much you can afford to borrowa mortgage broker can help with that ;) E.g. Property price = $650k... Deposit = $65k (10%), but waitremember there will be some fees; The fees would include: - Lender's Mortgage Insurance (LMI) = ~$15k - Other costs & fees (such as legal and government) = ~$3k. Surprisingly, that’s it from a home loan perspective, equating to a deposit of $83k...but this could go down further with the First Home Buyers Grant ($10k) and Home Builder Grant ($25k), ending up with a total deposit amount of ~$48k. That's a total saving of ~$60k including stamp duty. To go a step furtherLMI costs could be added to the loan, that would equate to a deposit of ~$33k to purchase your new home. Let's keep our fingers crossed and watch this space to await more details on the Homebuilder grant, in the meantime, it’s a good idea to know how much you can borrow, so let us do that for you. *Eligibility varies based on the borrower's circumstances and financial position. #homebuildergrant #firsthomebuyers #newbuild #houseandland See more

08.01.2022 During this tough time of uncertainty #coronavirus #covid19 , it may be worthwhile to #refinance your home loan to pre-empt any volatility over the coming weeks..so what are the benefits to refinancing now? - Achieve a lower interest rate to lower your repayments - Release equity from your property so you have cash on standby - Consolidate your debts into your home loan... - Some lenders are offering cashback deals which will soon expire - Switch to interest only repayments, reducing your repayments even further Why should you act now? - Bank Valuers will likely be more conservative a few weeks from now - Bank Valuers may refuse to visit properties - Australia is likely to go into total lockdown which may cause lenders to stop lending - Banks look at your most recent 2 payslips, so if you're income drops then you may not get approved It's better to be proactive than reactive with your #homeloan options.

08.01.2022 The property market looks to be heating up! A staggering turn out of 486 groups for an open inspection in Baulkham Hills, drives bidding to $225k above reserve price If you’re looking to buy, sooner is probably better than later since demand tends to pick up in Spring... Here’s a few tips to consider when purchasing: - It’s a good idea to request for the Building & Pest Report from the Real Estate Agent prior to Auction - Have the property and report checked by your builder and get a second opinion/quote for the renovation works required e.g. fixing up structural damage can be very costly - With renovation costs in mind, work out your max bidding price and stick to it - Do some research in advance, and check out the council websites for any future developments that may have an impact - You should also check any hazards, if applicable such as flood maps, bushfire and noise levels - Know when to walk away at Auction, as it will only end up causing you more financial stress https://buff.ly/2KOeH86

02.01.2022 Q: When should I refinance my home loan?" I'd say its common to refinance around the 2-year mark, or when your fixed-rate loan is due to expire. Also whenever there's been some activity in the property market/economy where the interest rates have changed, and borrowing has become cheaper. Or maybe you need to change the structure of the loan to include other features i.e. to make extra repayments, add an offset account or switch to an interest-only loan for cash flow purpo...ses. Q: Is it worthwhile refinancing? I usually provide an example to show a clearer picture of how much they could potentially save: Current Loan - $500k at a current rate of 3.50% (P&I) = $2,246 per month Refinanced Loan - $500k at a new rate of 2.09%* (P&I) = $1,871 per month Repayment Savings = $2,246 - $1,871 = pay $375.00 less per month equating to a saving of $4,500 per year in your pocket. In addition to that, some lenders are offering up to $4k cashback. *The rates and loan structure varies based on a client's personal/financial situation. Q for you: Wouldn't it be worthwhile finding out? It's best to have a quick chat with your mortgage broker especially as it won't even cost you anything to know. #refinance #clientquestions #homeloans #savings See more

01.01.2022 It’s amazing the impact a Vegan and Plant Based diet can have on a person’s health, strength and endurance. A great example of this by Novak! Kudos to you!