Lead Lending & Finance in Bendigo, Victoria | Property

Lead Lending & Finance

Locality: Bendigo, Victoria

Phone: +61 3 5445 4275

Address: 32 Garsed Street 3550 Bendigo, VIC, Australia

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

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20.01.2022 Thinking about switching lenders? Compare the fees and charges. A mortgage broker or a comparison website can help you find out what's available, but they are businesses and may make money through promoted links. They also may not cover all your options. When using comparison websites, compare these fees and charges: * Fixed rate loan - If you are on a fixed rate loan, you may need to pay a break fee.... * Discharge (or termination) fee - A fee when you close your current loan. * Application fee - Upfront fee when you apply for a new loan. * Switching fee - A fee for refinancing internally (staying with your current lender but switching to a different loan). * Stamp duty - You may be liable for stamp duty when you refinance. Check with your lender. See more

20.01.2022 Are you loyal to your bank? They might be punishing you for it. Borrowers who stick with their current mortgage might be missing out on the potential savings they could get when they refinance, according to the latest study by the Australian Competition and Consumer Commission. The report showed that the big four banks' strategy in attracting new loan customers with discounts has created a substantial difference in the average interest rates paid for new and existing loans. Time to take another look at your loan!

19.01.2022 Over a quarter of young Australians are struggling to meet their mortgage or rental commitments. A survey of 1,023 Australians, found that 15 per cent of Australians are struggling to pay housing costs. The survey found that younger Australians were disproportionately impacted, with 26 per cent seeking or planning on seeking assistance from their lender or landlord, compared with 10 per cent of Gen X and 1 per cent of Baby Boomer respondents.

17.01.2022 Could we really be seeing the end of stamp duty? Two-thirds of analysts are expecting state governments to axe stamp duty, according to a recent survey. Calls for stamp duty reform have gathered momentum in recent months, with the COVID-19 crisis reigniting the push for structural changes to the taxation system. Watch this space!

15.01.2022 Australia's low-rate environment will likely persist until 2023, according to the latest market forecast by CoreLogic. What does the low-rate environment indicate about mortgage rates? CoreLogic said mortgage rates are likely to remain "extremely low". The average variable mortgage rates for owner-occupiers are now below 3% while the same for investors are now in the low 3% range. The RBA has previously been clear that the cash rate won't move higher until inflation is well within the 2-3% target range and labour market indicators are trending towards full employment, implying an unemployment rate around the 4.5% mark.

13.01.2022 Financing a luxury car? The options for luxury car finance are essentially the same as the options for regular car finance e.g. a car loan, dealer finance, a novated lease etc. With one exception... There is a luxury car tax (LCT) currently payable on any car above a certain threshold, which (at the time of writing) is $75,526 for fuel-efficient cars and $67,525 for other cars. Also, be wary that the tax benefits of novated leasing may be fewer on a luxury car compared to a non-luxury car.

10.01.2022 The COVID-19 pandemic has had a massive impact on the unemployment rate, and the flow-on effect from this has impacted people's capacity to pay their home loans. Data from the Australian Prudential Regulation Authority (APRA) released in August revealed 11% of home loans have been deferred to the value of $195 billion.

10.01.2022 A reverse mortgage allows retirees to access money without having to sell their house. It is a type of home loan that allows the homeowner to borrow money using equity in their home as a security. Those who are over 60 years of age can generally borrow 15 to 20 per cent of the value of their home and this percentage rises by one for each year older than 60. During the period in which you take out a reverse mortgage, you do not have to make repayments while living in your h...ome. A reverse mortgage is beneficial for retirees looking for a small amount of money each year to supplement their income, or to free up money for urgent needs such as medical treatment. Just like a normal loan, interest is charged on a reverse mortgage. However, instead of making regular repayments, borrowers can either repay the loan in full when they sell or move out of their home, or make voluntary payments earlier. In exchange, the interest on a reverse mortgage loan compounds over time so you may see your debt grow despite your equity decreasing. In the case that the borrower of a reverse mortgage passes away, moves into an aged care or sells the property, the loan must be paid in full.

09.01.2022 R U OK? Day 2020 is asking all of us to learn what to say if someone in their life says they are not ok. www.ruok.org.au @ruokday #ruokday2020 #ruokday ... Life is hectic, and we’re certainly in a different world this year than we were last year! It is easy to get caught up in the hustle of day to day life, and become oblivious to what is going on around us. Or sometimes right in front of us. So take a second to look around. Check in on those we love, or those we work with, or those we haven’t spoken to for a while... Because there is nothing more important than each other! Time is one of the most valuable things we can share with the people that we care about Katherine Newton, CEO R U OK? See more

09.01.2022 The COVID-19 crisis has revealed the vicarious state of personal finances in Australia. ME Bank's Household Financial Comfort Report in June this year revealed that an alarming 21% of households have less than $1,000 in savings - on average about $300.

07.01.2022 Tax time is a popular time for scammers. The ATO will never request payment by gift vouchers, bitcoin or cryptocurrency - and they will never threaten you with immediate arrest. For more information on tax time scams visit the ATO website. https://www.ato.gov.au//Identity-/Verify-or-report-a-scam/

07.01.2022 What is the Household Expenditure Measure (HEM)? HEM was developed to help lenders estimate a loan applicant’s annual expenses. This figure becomes part of the calculation some lenders use to assess a person’s’ borrowing capacity to determine if they can afford the home loan they’re applying for. More than 600 items are classified as absolute basics (e.g. most food, utilities, transport, communication, children’s clothing), discretionary basics (e.g. takeaway food, alcohol, ...entertainment, adult clothing, dining out, childcare) and non-basic, luxury expenses (e.g. overseas holidays, gardeners). Rent or mortgage payments aren’t included in the HEM.

06.01.2022 DID YOU KNOW? Between 19-34% of the purchase price of a home in Victoria goes to government taxes and charges, according to a study released by the Urban Development Institute of Australia (UDIA). Government taxes and charges include stamp duty, developer land tax, GST, foreign buyer surcharge on stamp duty, developer council rates, infrastructure contributions, growth area infrastructure contribution, open space levy, metropolitan planning levy and statutory utility charges.... EXAMPLE 1: A first home buyer purchasing a block of land for $200,000 would hand over $62,480 plus interest, or about 29% of the purchase price to government taxes and charges. EXAMPLE 2: A couple with two kids buying a $315,000 block of land would hand over $106,314 plus interest, or about 34% of the purchase price in government charges.

06.01.2022 The specific rules of selling a tenanted property vary from state to state - below is a brief outline of the tenant’s rights by state when the landlord is selling in Victoria. Written notice: 60 days written notice if you wish to not renew their fixed lease Eviction: No eviction can occur for a fixed lease unless the lease is violated or both parties reach a mutual agreement... Notice required for inspections: 24 hours of notice Number of inspections: no rules for number of inspections per week For more information, see the Vic Residential Tenancies Act. https://www.legislation.vic.gov.au//residential-tenanc/093

03.01.2022 Need help to pay the rent? In response to concerns from the business community, the Federal Government has introduced a mandatory code for commercial tenants and landlords. The code is designed to help commercial renters throughout the COVID-19 crisis. https://leadgroup.com.au//struggling-to-pay-the-rent-the-g

03.01.2022 Victoria has been hit hard by the COVID-19 crisis, and so has the Melbourne property market. July CoreLogic index results showed that Melbourne is the worst capital city performer since the onset of COVID-19, with three consecutive months of value falls across the city. ABS payroll data has shown that Victoria has had the largest decline of payroll job positions of the state and territories. These labour force conditions have had a significant impact in the current downturn, where both the cash rate target and mortgage rates are at record lows.

03.01.2022 Could this be the end of cash? COVID-19 has intensified the trend towards cashless payments, with surveys showing that 62% of Australians are now using card payments for everything where possible.

02.01.2022 This has been a tough year financially for many people, making easily accessible "buy now pay later" loans seem more tempting. But, are there hidden dangers? https://leadgroup.com.au//when-afterpay-becomes-disasterpa

02.01.2022 When it comes to choosing a credit card, not all providers are the same. Make sure that you consider the below rates and fees when comparison shopping for the best deal. Rates and fees on credit cards : * Honeymoon (or introductory) interest rate - the interest rate offered for a limited period of time at the start of a new credit card... * Purchase (interest) rate - the interest rate on things you buy (purchases) after the honeymoon period ends * Interest-free days - the number of days you won't get charged interest on purchases * Annual fee - fee you will pay every year * Rewards program fee - fee for using the rewards program * Other fees - late repayment fees - cash advance fees (for cash taken out) - fees if you go over your credit limit - fees for using your credit card to shop or travel overseas See more

01.01.2022 If you’re buying an investment property, the house versus apartment question will invariably come up. It comes down to your overall investment strategy and goals. When you’re considering purchasing a property as an investment, rental income and capital growth are the two key things to keep top of mind. As a general rule, houses tend to generate better long-term capital growth, while apartments tend to generate better rental returns. However, much of this is dependent on the state of the property market and the economy.