Leigh Morris in Sydney, Australia | Financial service

Leigh Morris

Locality: Sydney, Australia

Phone: +61 447 263 567

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25.01.2022 $25k home buyers/owners grant announced Spend between $150k - $750k of own funds on reno’s (or new build) through a licensed builder & get a $25k grant. Couples incomes capped at $200k, individuals capped at $125k & the property must be valued under $1.5 million on completion. ... More details to follow Update: https://treasury.gov.au/coronavirus/homebuilder

25.01.2022 Gifting rules and tax consequences. Not the most exciting topic but getting it wrong can be costly! #tax #advice #adviserratings

24.01.2022 Stressing out about buying your first home? Don't! We help first home buyers from the idea in your head to the keys in your hand. ... Let's do this #firsthomebuyer #sydney #property #homeloan

24.01.2022 Financed 1bed 1bath in St Leonards NSW #sfpfinancial #homeloan #sydneyproperty

23.01.2022 We now offer home loans Our dedicated finance team is here to help you: Purchase your first home Guarantor loans ... Upsizing or downsizing Purchasing investment property Refinancing to reduce interest rate, renovations and debt consolidation We’re also here to provide financial advice around building your wealth, minimising tax and risk mitigation strategies. If you’d like a free home loan comparison and property valuation report, please click the link to take our 60 second home loan health check and we’ll deliver the information directly to your email. https://bit.ly/2W2mWU4 Alternatively, if you'd like to to get in touch send us a message or call our financial specialist, Leigh on 0447 263 567

23.01.2022 http:// FINANCED South Coast beach side holiday home ready for summer Manyana, NSW... #southcoast #holidayhome #homeloan #sydneyproperty #mortgagebroker #sfpfinancial

22.01.2022 Boring but informative post alert The 3.70% (or similar) you see on TV when banks advertise how low their rates are, aren’t the rates they assess your loan application on. All lenders must use the assessment/floor rate set by Australian Prudential Regulation Authority (APRA) which is currently set at 7%.... What does this mean for you? Well if you’re looking to borrow $700,000 for example, most people will work out their monthly repayments by doing the below; $700,000 loan over a 30-year term at 3.70% on principle & interest repayment, which would be $3,222 per month. BUT! While you might think to yourself, okay I can afford this, think again... The banks will assess you based on repayments of $4,657 per month due to the higher assessment rate. That's an additional $1,435 per month! Why is this important? a) So you can get a realistic idea of how much you can actually borrow b) To avoid applying for a loan, getting knocked back and hurting your credit score Discussions around reducing the current assessment rate of 7% have been increasing in the past few months and if reduced, would see Australian’s being able to borrow more. At this stage though, APRA have not made any comment regarding a reduction so only time will tell. If you need more help or you’re not sure how much you can borrow, get in contact for chat today. Happy Friday! #homeloan #property #firsthomebuyer #sydney #sfpfinance

22.01.2022 This just in... 2.99% Fixed for 3 years This just in... 2.99% Fixed for 3 years

21.01.2022 Home loan repayment "holidays" can really add up...

20.01.2022 Friday dream destination... Fira, Santorini - Greek Islands A Mythos and a gyro sitting right there would go down real well ... #fridaydreamdestinations #santorini #greece

20.01.2022 I need to get a life #247 #testimonial #mortgagebroker #sydneyproperty #refinance #homeloan #sfpfinancial

20.01.2022 Friday dream destination... Villa Balibianello, Lake Como Italy Perched up on the grass with some good wines and cheese. #heaven.... #fridaydreamdestinations #lakecomo #italy

20.01.2022 Offical rate dropped to 0.75% "The Board took the decision to lower interest rates further today to support employment and income growth and to provide greater confidence that inflation will be consistent with the medium-term target." Now to see if banks will pass the rate cut on to borrowers

18.01.2022 #testimonial #firsthomebuyer #mortgagebroker #homeloan #sfpfinancial

18.01.2022 $0 Lender Mortgage Insurance (LMI) available for Owner Occupied Principle & Interest purchaseswith a 15% deposit . Limited time only and conditions apply. Get in touch to find out more #firsthomebuyer #homeloan #mortgagebroker #property #sydney

18.01.2022 If you're in lockdown, we're now offering contactless home loan applications and refinancing The whole process from initial meeting to settlement, completed from the couch

18.01.2022 RBA RATES ON HOLD FOR AUGUST @ 1% Due to the recent rate cuts, Yahoo Finance gives you the low down on what you should have done by now... Get your bank on the phone and find out your current rate... Compare home loan interest rates, Compare savings accounts, Compare credit cards, and Switch to the best rates in the market across all your personal finance products ...Orrrrr if that sounds like a bit of a pain in the @rse, get me to do it for you, so you can spend your time laughing in the sun like those guys in the stock image Full article here - https://yhoo.it/2ZATaod

17.01.2022 http:// FINANCED 2 Bed 1 Bath in Bondi 8 min walk to the beach ... #firsthomebuyer #homeloan #sydneyproperty #mortgagebroker

17.01.2022 http:// FINANCED Congrats to Stephen and Siri on completing their home renos! Check out the before and after shots!... Stephen wasn’t too impressed about setting up the kitchen in bathroom (as you can see) but a small sacrifice to pay for a beautiful upgrade and the added home value. We’re able to obtain finance within 3 days for the builders to get cracking and the whole job was completed in under a month #renovation #homeloan #refinance #mortgagebroker #sfpfinancial

16.01.2022 Sydney & Melbourne property prices increase (very slightly) for the first time since 2017 Sydney has experienced a -14.9% drop from it's peak 2 years ago but still maintains a growth of 18.8% over the past 5 years. Are we now at the bottom of the market or did June experience a small spike due to the election results, lending policy changes and an interest rate drop? ... #sydneyproperty #homeloan #mortgage #sfpfinance (Image & data courtesy of Corelogic)

16.01.2022 Australian's will soon be able to borrow more APRA has removed the 7% floor rate and we're now seeing lenders pass on the benefits of this change in lending regulation. What does this all mean?... Below is an example of how the servicing rate can increase borrowing capacity for couple. If you'd like discuss how these changes will effect you, let's chat Happy Friday #homeloan #sydneyproperty #mortgagebroker #sfpfinance

16.01.2022 http:// FINANCED 4 bed 3 bath 3 car in Rose Bay Upsizing the family home ... #homeloan #sydneyproperty #rosebay #mortgagebroker #sfpfinancial

15.01.2022 First home buyers re-enter the property market "ABS figures for March show first home buyers comprised over 27% of all new lending, marking that segment's highest level since 2012" The governments First Home Deposit Scheme (FHDS) is due 1st Jan 2020, which will allow first home buyer who have saved a 5% deposit to take out a home loan without the traditionally required 20% or taking out Lenders Mortgage Insurance (LMI). ... Details around the FHDS have not been clarified yet but the scheme will be available for indivudals earning up to $125k for individuals or $200k for couples. Info from the June edition Broker magazine https://issuu.com///final_broker_jun_19_-_master_file_r/26 #property #firsthomebuyers #sydney #sfpfinance

13.01.2022 Big new for First Home Buyers in NSW 1 Premier Gladys Berejiklian has announced an increase to the stamp duty exemption for First Home Buyers from $650k to $800k and a partial exemption up to $1m. (In NSW, stamp duty on an $800k property is approximately $31,777) ... The changes don't include existing homes but do include; Newly built homes & units Off the plan units & townhouses Vacant land The announcement take effect this Saturday 1st August and lasts for 12 months. Further details to be announced on eligibility in the coming days. 2 The NSW $10,000 first homeowners grant will continue to run and applies to: New home purchase under $600k Building a new home under $750k 3 Some lenders have also reduced their Lenders Mortgage Insurance cost to $1.00 for First Home Buyers who have a 15% deposit or more. The offer applies to Principle & Interest Owner Occupied home loans with a maximum size of $850k. (Lenders mortgage insurance is approximately $8,772 on a purchase price of $800k with a 15% deposit) if you'd like to to get in touch to discuss buying your first home send us a message or call us on 02 9328 08776 #firsthomebuyer #sfpfinancial #mortgagebroker #NSW

13.01.2022 http:// FINANCED 2 bed 2 bath 1 car in Bondi NSW First home buyer loving the new pad ... #firsthomebuyer #homeloan #sydneyproperty #bondi #mortgagebroker #sfpfinancial

13.01.2022 As part of the NSW 2020 budget, NSW Treasurer Dominic Perrottet announced that the state government will open a public consultation to put forward changes to Stamp Duty on owner occupied homes. Under the proposed model home buyers would be able to choose between paying Stamp Duty up front or an annual property tax instead. The proposal would only apply to owner occupied property purchase so property investors would not benefit from the changes. The change could assist in el...iminating the barrier of entry for first home buyers trying to save for a home deposit and help families reduce costs when looking to move home. First home buyers already receive a stamp duty exemption up to $650,000 and partial exemption up to $800,000. Under the new changes, instead of a stamp duty exemption, the state government could offer a grant of up to $25,000 to offset the tax or to refurbish the home. Below is the current stamp duty cost in NSW based on property value: Purchase price $500,000 Stamp duty $18,311 Purchase price $1,000,000 Stamp duty $40,811 Purchase price $1,500,000 Stamp duty $68,311 Purchase price $2,000,000 Stamp duty $95,811 Treasurer Dominic Perrottet had this to say, "It (stamp duty) adds tens of thousands of dollars to the cost of the biggest financial commitment most people ever make. If you want to move, change jobs, or switch careers, upsize or downsize to match your family size, stamp duty can be the spanner in the works If passed, the changes could come into effect mid to late 2021. More to come #stampduty #nsw #nswbudget2020 #homeloan #firsthomebuyer #mortgagebroker #sfpfinancial

13.01.2022 Your maximum borrowing capacity and the amount you should borrow are often different. Just because a bank or lender is willing to lend you a certain amount, doesn’t mean that amount is right for your individual needs. Determining your maximum borrowing capacity should be carefully assessed by looking at a number of factors including your income and individual spending habits. When looking at borrowing capacity, the two limiting factors are your savings/deposit and your availa...ble cashflow. Example 1 If Jenny is looking to by a $600,000 home, has no savings/deposit but has sufficient income to make loan repayments, Jenny would be unable to purchase a property as she is unable to pay for the upfront costs (deposit, stamp duty and other purchase costs). Example 2 If Jenny has $200,000 saved but has insufficient income, she would be unable to purchase the property. Although Jenny has enough money to pay for the upfront costs, she would be unable to make the ongoing loan repayments. For first home buyers, the upfront costs are usually the limiting factor due to the large amount of savings required. In some instances a family/equity guarantor or Lenders Mortgage Insurance (LMI) can be used in place of genuine savings. If you'd like to know more, get in touch #education #finance #homeloan #mortgagebroker #firsthomebuyer #sfpfinance

12.01.2022 RBA holds office cash rate at 0.25% Governor Philip Lowe of the Reserve Bank has said... "The Australian economy is going through a very difficult period and is experiencing the biggest contraction since the 1930s. Since March, an unprecedented 800,000 people have lost their jobs, with many others retaining their job only because of government and other support programs. Conditions have, however, stabilised recently and the downturn has been less severe than earlier expec...ted." "The Board is committed to do what it can to support jobs, incomes and businesses and to make sure that Australia is well placed for the recovery. Its actions are keeping funding costs low and supporting the supply of credit to households and businesses. This accommodative approach will be maintained as long as it is required. The Board will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 23 per cent target band." Full statement here https://www.rba.gov.au/media-releases/2020/mr-20-17.html #RBA #cashrate #sfp #homeloan

12.01.2022 As widley predicted, the RBA has dropped the cash rate by 0.15% to a record low 0.10% to help stimulate the Australian economy. "At its meeting today, the Board decided on a package of further measures to support job creation and the recovery of the Australian economy from the pandemic," - Governor Philip Lowe #rba #interestrates #homeloan #investor #mortgagebroker #sydneyproperty #sfpfinancial

11.01.2022 Equity is the financial term for the difference between how much of your home you own vs the bank. Example - Your home is worth $800,000 and you have a home loan of $600,000. This means you own $200,000 of the home and the bank owns $600,000. Or in other words, you hold $200,000 equity in your home ... #homeloan #sydneyproperty #mortgagebroker

11.01.2022 It's offical! RBA drops rate to just 0.5% "The Reserve Bank of Australia has cut the cash rate to a new record low of 0.5 per cent as it acts to soften the economic impact of the coronavirus" Now to see which lenders pass on the cut ... #rba #homeloan #finance #sydney #property #sfp

11.01.2022 CASH RATE STAYS ON HOLD AT 1.5% History shows us that the RBA does not move the cash rate during an election campaign, so the RBA is likely to hold the cash rate in May," Read more here - https://bit.ly/2H5RwnW... #RBA #interestrate #sydney #property #mortgagebroking

11.01.2022 Potential huge news for first home buyers and investors in NSW. First home buyers in NSW receive a full stamp duty exemption up to $650k but once the price is over $800k, full stamp duty is currently payable. If stamp duty is removed, the money saved can be used towards the deposit to afford a home sooner.... Examples of stamp duty savings based on property value Stamp duty on $800,000 = $31,719 Stamp duty on $1,000,000 = $40,719 Stamp duty on $1,300,000 = $57,089 More to come #stampduty #NSW #property #homeloan #sfp

11.01.2022 RBA leaves rate on hold at 0.75% We're now seeing rates as low as 2.74% on owner occupied home loans so check your bank statement and if your rate doesnt start with a 2, it might be time to consider your options. ---------------------------------------------------------------------------------... Reserve Bank governor Philip Lowe has said that it is "reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target". #sfpfinance #rba #interestrate #homeloan #sydney https://www.afr.com//rba-keeps-interest-rates-on-hold-at-0

09.01.2022 This..... "buyers should be careful of accepting mortgage direction from someone focused on selling products and interest rates without considering and discussing mortgage strategy, money management and property decision making. #property #advice

09.01.2022 RBA drops rates to 1.25% The first movement in nearly 3 years We expect all the banks and other lenders to pass through any RBA rate cut in full.... If lenders pass on the drop it's good news for existing borrowers and new borrows alike. If your current lender isn't passing on the full rate, maybe it's time for a chat. More info regarding the decision here https://bit.ly/311Orx7 If you have any questions, or you're not sure where to start, feel free to call or message me below... #homeloan #property #sydney #sfpfinance #mortgagebroking

06.01.2022 http:// FINANCED 3 bedroom, 2 bath, 2 Car unit in Greenwich NSW. #homeloan #sydneyproperty #investor #mortgagebroker

05.01.2022 Using cash buffers if available Lender relief packages to assist with repayments Refinancing to reduce rates and free up cashflow It’s better to talk to your broker or the bank informally before you submit an application. That way you can protect your credit rating"... If you have any questions regarding your existing loan or a new loan application, I'm available for a chat 7 days a week. Facebook messanger Whatsapp Mobile - 0447263567 email - [email protected]

04.01.2022 The below table provides examples of the deposit required to purchase a property. In most instances, if you’d like to avoid paying Lenders Mortgage Insurance (LMI), you’ll need a deposit of 20% or more of the property value. You may be able to purchase a home with as little as a 5% deposit with the assistance of LMI. To find out more about LMI, check out ‘What is Lenders Mortgage Insurance’ in my previous post. Purchase price of property... Minimum deposit required without Lenders Mortgage Insurance (LMI) $1,500,000 property - $300,000 deposit $1,000,000 property - $200,000 deposit $750,000 property - $150,000 deposit $500,000 property - $100,000 deposit Minimum deposit required with Lenders Mortgage Insurance (LMI) $1,500,000 property - $75,000 deposit $1,000,000 property - $50,000 deposit $750,000 property - $37,500 deposit $500,000 property - $25,000 deposit There's also stamp duty and other purchase costs such as a solicitor to consider so make sure you understand all the costs before making an offer! Call, email or msg if you need some help #homeloan #firsthomebuyer #sydneyproperty #investor #mortgagebroker #mortgage #sfpfinancial

03.01.2022 Now that's low... but not as low as our latest home loan rates! (10/10 marketing ) 3.69% fixed interest for 1 to 3 years - Owner occupied loan with 100% offset account. Perfect for first home buyers looking for certainty around repayment affordability from month to month.... Get in touch if you're keen to get started... and happy long weekend! #firsthomebuyer #sydney #homeloan #property

03.01.2022 RBA drops rate to 1% "The Reserve Bank of Australia has cut interest rates by another 0.25 per cent, following its first cut since August 2016 just last month. This brings the new cash rate to 1 per cent.... However, while a record low, the decision was not a surprise. The National Australia Bank had tipped three rate cuts before Christmas 2019, echoing similar predictions from JP Morgan which predicted four rate cuts before Christmas." *Lender rate cut updates ANZ has past on the full 0.25% CBA has past on a parital 0.19% NAB has past on a partial 0.19% Westpac has past on partial 0.20% for owner occupied loans Westpac has past on 0.30% for interest only investment loans https://yhoo.it/2XiP4PM #interestrates #rba #homeloan #property #sfpfinance

02.01.2022 Boring but informative post alert (UPDATE) On the 5th May I wrote a post about the assessment/floor rate of 7% APRA puts in place for all lenders to assess loan applications (have a read if you're interest/bored - link here https://bit.ly/2Ek53qc) Anyway, long story short, APRA want to remove the 7% assessment rate and increase the serviceability buffer rate from 2.25% to 2.5% ... Why do you care? Well if lenders are able to use a lower rate to assess loan applications, it means borrows could soon be able to borrow more than they currently can. To add to this, predictions are that the RBA will look to cut the official interest rate from 1.5% to 1.25% in June. If this is true, it will mark the first rate movement since August 2016. Nothing is set in stone as yet but there's definitely some interesting times ahead! :D Here's a dog in a swing for your troubles...Happy Tuesday! #homeloan #property #firsthomebuyer #sydney #sfpfinance Read more here... https://www.corelogic.com.au//apra-looks-loosen-lending-li

01.01.2022 Refinance for home improvement have been a big hit lately with a mix of low rates and Covid travel restrictions! #testimonial #mortgagebroker #sydneyproperty #homeloan #refinance #renovation #sfpfinance