Central Mortgage Broker in Bright, Victoria | Financial service

Central Mortgage Broker

Locality: Bright, Victoria

Phone: +61 401 963 335

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25.01.2022 -Breaking News - Letting you know Federal Gov’t has released details around the Home Builder, $25K renovator grant. ... We have summarised the main points below: Duration: - Applies to contacts entered into between 4 June and 31 December 2020 Eligibility: - Must be 18 years of age or older and an Australian Citizen Individuals only, no Trusts or Companies. No Investors or Owner Builders The scheme is income tested: Singles earning $125K p.a. or less Couples combined income of $200K p.a. or less What you can use it for: Minimum renovation cost $150K New home builds to the value of $750K or less Existing home renovations where the existing property value is less than $1.5M Cannot be used for additions that are unconnected to the principal place of residence such as swimming pools tennis courts garages sheds etc. Expect further details around making application will begin to surface shortly.

25.01.2022 Rent reductions for your tenants It is hard not to be compassionate in times like this and we all know there will be requests from tenants to reduce rents, or r...equests to stop paying rent altogether in these times. So, with these real risks and the risk of your tenant giving notice and vacating your investment property, there are several steps that you should consider before as a landlord you make any decisions. Yes, banks are offering repayment breaks for your mortgage, but this is not for free to you. You will still be incurring interest during this time. So, at the end of the break, your mortgage owing will be higher as this incurred interest will have been added to your mortgage to payback. Plus, you still have rates and property maintenance costs to consider. So what should you do? First, you should call your insurance company to find out if you are covered for loss of rent if your tenant cannot pay due to COVID-19, under your landlord insurance policy. Then if a tenant/s asks for a rent reduction or total rent relief, you know and understand their policys. Combined with this request, you should seek to find out more as to how your tenant claims they are impacted and seek proof on their reasons. So, you are not making financial decisions that impact you with no groundings for any request made. Things for you to consider asking of your property manager: 1. Get them to send you a copy of the termination of employment letter. 2. Or, a letter stating your tenants working hours have been reduced. 3. Request your property manager calls their employer for a verbal confirmation of the above. 3. Request a further letter confirming they then applied with Centrelink for the JobSeeker or a letter from their employer that they will be paying them via JobKeeper allowances. 5. Further, if two or more person/s are on your lease, confirm both leaseholders are impacted. It may be that whilst one is impacted, their combined incomes put them in a good position to still afford to be paying the ongoing rent. But above all we believe its always best to plan ahead of time and of course, to be compassionate. So please reach out to our team for assistance if you end up needing to request a repayment break on your mortgage to cover repayments in these times.

24.01.2022 We can help find you a Lender to suit your lifestyle. #children #expecting #parentalleave #homeloans #mortgagebroker #finance #lender #loan #family https://ift.tt/2BWOWO3 https://ift.tt/2Vz4nDo https://ift.tt/2aIXEmF

24.01.2022 At Central Mortgage, we are wishing everyone a safe Easter. Please stay at home this year. #stayathome

23.01.2022 The Reserve Bank of Australia (RBA) has released its quarterly statement on monetary policy, containing an analysis of new mortgage rate data collected by the c...entral bank, which has found that the price differential between new and outstanding variable rate home loans increases with the age of a loan. According to the RBA, borrowers with variable rate mortgages originated four or more years ago which account for less than half of all securitised loans assessed are charged an interest rate approximately 40 bps higher than borrowers with newly originated loans. For a loan balance of $250,000, this difference implies an extra $1,000 of interest payments per year, the RBA observed. https://www.mortgagebusiness.com.au//14234-lenders-chargin

23.01.2022 In its second announcement of the year, the Reserve Bank of Australia (RBA) has announced that the official cash rate will remain on hold at 1.5%. #cashrate #unchanged #same #nochange #onhold #rba #announcement https://ift.tt/2IQdJJn https://ift.tt/2UjgIv7 https://ift.tt/2aIXEmF

23.01.2022 Talk to us about our complete on-line services. We can help you through the whole process, without you having to leave home. https://www.centralmortgagebroker.com.au/lending

22.01.2022 The RBA today announced a further reduction of 0.25%, bringing the Cash Rate to a record low of 0.25%: The coronavirus is first and foremost a public health iss...ue, but it is also having a very major impact on the economy and the financial system. As the virus has spread, countries have restricted the movement of people across borders and have implemented social distancing measures, including restricting movements within countries and within cities. The result has been major disruptions to economic activity across the world. This is likely to remain the case for some time yet as efforts continue to contain the virus. Click below to read the full statement from Statement by Philip Lowe, Governor: Monetary Policy Decision. https://www.rba.gov.au/media-releases/2020/mr-20-08.html

21.01.2022 Are borrowers at risk of being lured into fixed-rate products that undermine their long-term interests? We would like to just make sure borrowers remain cool-h...eaded in the current market and are not lured into products that could be seen by the market as trying to buy business Without considering the costs to you after the fact, like revert rates, other fees and charges tied to the fixed-rate product. Or your future plans that may make a fixed product not-suitable to your needs. For more information on "Does, a fixed loan suit our ongoing needs?" have a chat with one of our team https://www.centralmortgagebroker.com.au/

20.01.2022 At todays meeting...

20.01.2022 Parental Servicing guarantees are again available! After several years of no lender offering these loans, they are again back. How are they different to the ...more commonly used Security guarantees? In a security guarantee, Mum and/or Dad typically use their home equity to guarantee the mortgage of their Son and/or Daughter. In a servicing guarantee, Mum and/or Dad use their income to guarantee the loan of their Son and/or Daughter, not their home. Of course, this can be in reverse too and used for a Son and/or Daughter to guarantee their Mum and/or Dad in a purchase too. This becomes a real benefit for all kinds of scenarios, to learn more please chat with one of our team. www.centralmortgagebroker.com.au

18.01.2022 At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.00 per cent. This follows a similar reduction at the Board's June meeting.... This easing of monetary policy will support employment growth and provide greater confidence that inflation will be consistent with the medium-term target. To find out more on mortgage rates talk to one of our team today https://www.centralmortgagebroker.com.au/ Read more on the RBA at https://www.rba.gov.au/media-releases/2019/mr-19-18.html

17.01.2022 Today was Settlement Day for this Purchaser. So glad we could help you with your finance #settlement #settlementday #buy #house #homebuyer #purchase #mortgage #homeloan #money #mortgagebroker #centralmortgage #broker #broker #homeloans #firsthomebuyer #sold #finance #buyinghouses #home #buyer #realestate https://ift.tt/2DgeINi https://ift.tt/2rslih1 https://ift.tt/2aIXEmF

17.01.2022 Why stop at one Offset Account. We have lenders who offer up to eight offset accounts, each contributing towards the outstanding balance of your home loan. Talk to us today! #centralmortgage #broker #mortgagebroker #finance #yourbrokerbehindyou #supportingourclients #smallbusiness #home #loans http://bit.ly/2I4b3rl http://bit.ly/2GAHMC6 http://bit.ly/2aIXEmF

17.01.2022 Looking for a low rate!!!

16.01.2022 A record share of borrowers turning to mortgage brokers confirms Australians value our services! Thank you Figures released by the MFAA yesterday (Thurs...day) showed brokers settled 59.7% of mortgages in Australia within the January to March 2019 quarter; this was a rise of 4.4% compared to the same quarter in 2018. Chat with us today to see how we can help. www.centralmortgagebroker.com.au

16.01.2022 Some good news! For off the plan purchasers, with the amendments to Sale of Land Act 1962 The Victorian Government has passed new laws that will remove the abil...ity of developers to exploit buyers by intentionally delaying building projects so they can then use sunset clauses to rescind residential off-the-plan property contracts and then re-sell the properties at a higher price. The Sale of Land Amendment Act 2019 amends the Sale of Land Act 1962 (the Act) to require developers to obtain the purchasers consent, or the permission of the Supreme Court of Victoria, before exercising a sunset clause. Sunset clause amendments apply from 23 August 2018 The legislation applies retrospectively from 23 August 2018 to protect purchasers who have existing residential off-the-plan contracts, or whose contracts may have been rescinded after that date. As of 23 August 2018, a vendor (the developer) must have the purchasers written agreement to legally rescind a residential off-the-plan contract under a sunset clause. As of 4 June 2019, a vendor may also seek an order from the Supreme Court of Victoria to allow them to exercise a sunset clause. A rescission effectively unwinds the contract as if it never existed, and returns the parties to their original positions. If a vendor attempts to rescind a contract under a sunset clause, the rescission will not be valid unless it occurred with the purchasers consent or with the express permission of the Supreme Court. Residential off-the-plan contracts that were validly rescinded by vendors under sunset clauses prior to 23 August 2018 are not covered by the reforms. Concerned purchasers in these circumstances should seek legal advice about their options or talk with one of our team for options.

14.01.2022 -Breaking News - Letting you know Federal Govt has released details around the Home Builder, $25K renovator grant. ... We have summarised the main points below: Duration: - Applies to contacts entered into between 4 June and 31 December 2020 Eligibility: - Must be 18 years of age or older and an Australian Citizen Individuals only, no Trusts or Companies. No Investors or Owner Builders The scheme is income tested: Singles earning $125K p.a. or less Couples combined income of $200K p.a. or less What you can use it for: Minimum renovation cost $150K New home builds to the value of $750K or less Existing home renovations where the existing property value is less than $1.5M Cannot be used for additions that are unconnected to the principal place of residence such as swimming pools tennis courts garages sheds etc. Expect further details around making application will begin to surface shortly.

13.01.2022 What kind of Interest Rate are you paying on your Home Loan? Have you received a rate cut? #centralmortgage #mortgagebroker #interestrates #ratecut #homeloans #refinance #australiandream #homeownership https://ift.tt/2Ohmldg https://ift.tt/2VcQCLy https://ift.tt/2aIXEmF

12.01.2022 #ratedrop #todaysmeeting #rba https://ift.tt/2o1cGfU https://ift.tt/2mzpxWe https://ift.tt/2aIXEmF

11.01.2022 Were still open for business, but requesting all customers to chat via phone or email. Meetings will now all be via video using Zoom or similar. We are well s...et up to work online and have the very latest in mortgage software to help with your needs. For any questions, new inquiries or anyone needing to understand how lenders are going to help? Please call one of our team. Above all please stay safe and care for your families in these trying times, the team at Central Mortgage. Warren Minnette 0417 136 757 Jacci Haynes 0401 963 335 Damian Pisano 0425 397 554 Michael Buceto 0412 377 101 Yugal Karki 0423 341 823

08.01.2022 When looking for land, finding "titled" land is the only way to avoid the risk of delays by the developers in your settlement.

08.01.2022 The Reserve Bank has announced its cash rate decision for the month of February, the first-rate decision made for 2020. The Reserve Bank of Australia (RBA) has held the official cash rate at 0.75 per cent.

06.01.2022 Congratulations to these new home owners #homeowners #firsthomebuyers #startingyoung #centralmortgage #centralmortgagebroker #buy #home #property #exciting #congratulations

05.01.2022 Despite expectations of a cut, the Reserve Bank of Australia (RBA) has held the official cash rate at 1.5 per cent. #onhold #nomovement #nochange #thesame #rba #cashrate http://bit.ly/2DTUfyR http://bit.ly/2Y8FoYN http://bit.ly/2aIXEmF

04.01.2022 Additional payments $$$ #extra #homeloan #mortgage #centralmortgagebroker http://bit.ly/2VMTtOQ http://bit.ly/2X2puio http://bit.ly/2aIXEmF

03.01.2022 More than a quarter of the $4.19 billion dollars of bank fees charged to customers last year were related to home loans, according to RBA figures. How much did ...you give banks in fees? Book a review today and let us work out if you are paying more than you need too. Book your review at www.centralmortgagebroker.com.au The Reserve Bank of Australias annual survey of bank fees (RBA) has revealed that bank fees charged to households in 2018 totalled $4.19 billion. While banks continue to get the majority of their fee income from households credit cards (making up 41 per cent of the money coming in at $1.71 billion) - an increase of $36 million from the year before and the highest annual total on record), fees on housing loans made up the second largest portion - at 28 per cent, or $1.17 billion. However, the RBA data shows that income from fees on housing loans dropped by 7 per cent in 2018. This was largely driven by lower volumes of new and refinanced housing loans over the year.

03.01.2022 Take note! The media does not always portray the whole truth. The knowledge of property is always worth your own investigation. Always do your own homework.

03.01.2022 Rate drop! The Reserve Bank of Australia has set the March cash rate. It is now at a record low of 0.50% having been reduced by a further 25 basis points #ratedrop #cashrate #low #record #economy #australia #official #cut https://ift.tt/32JgPFr https://ift.tt/2PFfbiK https://ift.tt/2aIXEmF

03.01.2022 Its always a good idea to do your homework on a property before you purchase it or bid at an Auction...

03.01.2022 Happy client Glad that I could help. Enjoy your beautiful new home David

02.01.2022 IMPORTANT LENDING MESSAGE RE: COVID-19 What are Banks doing and what has changed? Firstly: we are getting a lot of calls and emails as to what banks are doing ...for existing mortgage clients. Please call us to discuss if you are facing hardship, as each situation and bank will require different information as to arranging repayment holidays. CURRENT LENDING APPLICATIONS Never has there been a time more testing on our business and as part of our responsible lending obligations, its important we can ensure all borrowers are able to afford their loan repayments without undue hardship. This also applies to existing clients seeking additional credit. In line with this approach, we are monitoring industries especially impacted by the coronavirus situation. The identified industries at this time are: tourism transportation, excluding public transportation and delivery services hospitality retail sport, arts and recreation. For PAYG applicants within the above industries: the application must NOW include a bank account statement showing a salary credit no older than 14 days at the time of formal approval, matching the most recent payslip Additionally, bank credit assessors are asking to speak to the applicants employer to confirm employment status and current income. Even further checks will be made where the applicant is on paid leave or unpaid leave to confirm a return to work is going as planned. For all self-employed applicants, NEW REQUIREMENTS regardless of industry, the application must include our normal requirements of the last two years financials and NOW: business activity statements (BAS) covering the period from the most recent financial statements to the application date. From 1 April 2020 well ALSO require the March quarter BAS, and bank statements from at least 1 March 2020 onwards (and no older than 14 days at time of approval) showing credits or deposits evidencing consistent trading income. We are continuing to monitor this evolving situation and will provide further information over time. Please allow us more time on files to deal with more scrutiny from the banks in these trying times. It has always been a requirement to disclose any foreseeable changes to your income and employment, so please be upfront if this is the case. If banks find you have been deceptive in your application, this has consequences. Above all do not enter any purchase contracts without discussing with our team your finance approval and be prepared prior to settlements that banks will be making extra checks. Checks that include making sure you can pay new mortgages without hardship.

01.01.2022 Central Mortgage - Royal Commission update We are open for business - as usual! The Royal Commission has been handed down this week and at the heart of it, it w...as meant to deal with corruption in the finance sector. However, in deflection of this issue, the complete opposite has happened. With recommendation made about who should pay for a Mortgage brokers services being added to this report. Just to look at the figures, last quarter 59.1% of mortgage lending was done via the broking channel and 0.5% of complaints to AFCA the Australian Financial Complaints Authority were related to actions by mortgage brokers. So 99.5% of complaints were about Banks and other sectors. In short, the Banks want a system that you pay more for, allowing them to increase rates with reduced competition from mortgage brokers and smaller lenders; mainly accessed via brokers to keep them honest. The Mortgage Broking industry is fighting back, before expected changes are to take place in July 2020. Please continue to support our industry or risk only having the big four banks to choose from in the future.

01.01.2022 Help save the mortgage broking industry. Keep competition alive.