Kosh Sothilingam in Mulgrave, Victoria | Financial service

Kosh Sothilingam

Locality: Mulgrave, Victoria

Phone: +61 403 438 667

Address: 700 Springvale Rd 3170 Mulgrave, VIC, Australia

Website: http://rateone.com.au

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• Financial service
• Loan service

24.01.2022 JUNE HOUSE PRICE RESULTS House prices continued to fall in most capital cities in June led by #Melbourne and #Perth who experienced drops of 1.1% respectively and #Sydney not far behind with a fall of 0.8% for the month. It's a different story in the smaller capital cities with #Hobart, #Darwin and #Canberra all experiencing gains in the month of June, this only reinforces how different the housing markets are around Australia. ... Most forecasters are now predicting house prices to fall by 10% nationally with the more severe declines being experienced in the Melbourne and Sydney markets. #JobKeeper and #JobSeeker finish in just over two months, the banks repayment holidays for home loan borrowers under hardship through the #Covid will also finish soon, will we see more distressed and forced sales as a result? The next 6-12mths will certainly offer plenty of buying opportunities for home buyers who have job security and are deposit ready! To discuss getting home loan #preapproval for your residential or investment property purchase please send me a PM or contact me as below. Kosh Sothilingam - Mortgage Broker 0403 438 667 [email protected] RESIDENTIAL | INVESTMENT | REFINANCE | FIRST HOME BUYER | COMMERCIAL | BUSINESS | DEVELOPMENT FINANCE |

19.01.2022 Housing data for the month of November has just been released and it was a MASSIVE end to Spring! Sydney house prices by 2.7% for the month and Melbourne not far behind with an increase of 2.2% for November. With interest rates tipped to remain low for the foreseeable future it's hard to see this momentum slowing anytime soon. ... To discuss what's required to purchase your next home please comment, send me a PM or contact me as below. Kosh Sothilingam - Mortgage Broker 0403 438 667 [email protected] RESIDENTIAL | INVESTMENT | REFINANCE | FIRST HOME BUYER | COMMERCIAL | BUSINESS | DEVELOPMENT FINANCE |

16.01.2022 Under-quoting by real estate agents can be extremely frustrating. You spend time attending the open for inspection only to find the property goes to Auction 4-8 weeks later and sells for $50,000 or $100,000 more than advertised. The reality remains that the real estate agents job is to sell the home at the highest price for the vendor or seller, so in fairness to the real estate agents they are simply achieve great results for their vendors/sellers, this is their job. ... Melbourne and Sydney house prices went up by 2.2% and 2.7% in November alone so i'm not surprised to see homes selling well above the advertised price and reserve as the market is moving so quickly. The ABC news article rightly points out the best way to determine current house prices and what the market is doing is to search for homes that have been sold in the last 4 weeks rather than looking at homes for sale and the advertised price. This has always been my advice to my client's when the property market is running this hot! As a Mortgage Broker I guide you through the lending process so you are clear on your borrowing capacity, minimum deposit requirements and then arm you with an much information as possible to go into battle with the real estate agent and negotiate your property purchase. As a Mortgage Broker I work YOU! If you have any questions send me a PM or contact me as below. Kosh Sothilingam - Mortgage Broker 0403 438 667 [email protected] RESIDENTIAL | INVESTMENT | REFINANCE | FIRST HOME BUYER | COMMERCIAL | BUSINESS | DEVELOPMENT FINANCE | https://www.google.com/amp/amp.abc.net.au/article/11829060

14.01.2022 FIRST HOME BUYERS BIBLE Home loan process for all my first home buyers. 1) Send a PM to myself Kosh Sothilingam - Mortgage Broker or through the group First Home Buyers Bible Australia requesting a phone appointment, this is an informal phone call to gain a better understanding of your situation, this phone call like all our service is free of cost.... 2) On this call we will confirm your borrowing capacity, minimum deposit requirements, Government stamp duty concessions and cash grants applicable to you. 3) Assuming you are eligible we will then send an email confirming documents required to apply for home loan pre-approval and applications for any government schemes etc. 4) We will assess your information and then come back to you recommending the most appropriate bank based on your situation, this proposal will be in writing confirming interest rates, loan amounts and any bank fees applicable. 5) We get the green light from you the client that you're happy with the home loan proposal, at this point we will lodge the home loan pre-approval application with this recommended lender. 6) Once pre-approved you will have 90 days to find a property, if you are unable to find a property in this time the pre-approval can be renewed at no cost for a further 90 days. 7) When you find your ideal home and your offer is accepted we will get a copy of the contract of sale and order a bank valuation on the property. 8) Assuming the valuation is satisfactory we can then start looking at unconditional approval from the bank/lender, this means the lender or bank has signed off on your application officially. 9) As a Mortgage Broker we can now issue your home loan contracts for you to review and sign, when the home loan contracts are signed you send them back the bank will then certify your application and contracts, at this point your solicitor will get a notification advising settlement is ready to be booked. 10) You then take possession of your first home on the settlement date!!! If you want to book a phone appointment to discuss purchasing your first home please send a PM or reach out as below. Kosh Sothilingam - Mortgage Broker 0403 438 667 [email protected]

03.01.2022 This ABC article highlights the fact home ownership rates have been in decline now for the past 6 years across every age group. In 2002, 34 per cent of 18 to 39-year-olds in Melbourne were home owners. By 2018 that figure had dropped to 22 per cent, according to the HILDA Survey. Unfortunatley these rates of home ownership are likely to decline further as house prices continue to rise.... Whilst first home buyers have access to the Federal Government's first home loan deposit scheme and most State Governments offer FHOG's and stamp duty concessions for FHB's more needs to be done. A median-priced property in Sydney now costs more than eight times the average yearly household income which is crazy stuff. The divide between income growth and house price growth has continued to grow over the past 20 years as reflected in the graph attached and this is likely to get worse. If you have any questions around the first home buyer concessions and initiatives applicable in your State or Territory please send me a PM or contact me as below. Kosh Sothilingam - Mortgage Broker 0403 438 667 [email protected] RESIDENTIAL | INVESTMENT | REFINANCE | FIRST HOME BUYER | COMMERCIAL | BUSINESS | DEVELOPMENT FINANCE. https://www.abc.net.au//older-australians-who-own/11815006