LifeYield | Loan service

LifeYield

Phone: +61 418 471 177

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• Mortgage brokers

25.01.2022 Thinking about house hunting this weekend? How much will the bank lend you? Your house hunt should start with your Mortgage Broker. As a broker I work for you, not the lender.... In most cases I don't need to charge. My aim is to find the best home loan for your situation, saving you money over the life of the loan. I can also manage the entire loan process and organise pre-approval so you can start your property search with confidence. Get in touch just send me a message.

25.01.2022 How much can you borrow? Did you know that most lenders don’t use the current interest rate when assessing your capacity to make payments? They use what is called an assessment rate, which can impact on the amount you can borrow. The assessment rate is typically between 1%-2.5% higher than the interest rate on the loan.... WHY DO LENDERS USE THIS INFLATED INTEREST RATE? They do it to allow for any future movements in the interest rate and to ensure you can still afford the loan if interest rates increase. Rates will vary from lender to lender as each set their own assessment rate. A lender may have different assessment rates for each of their loan products. For instance, a fixed rate loan may have a lower assessment rate than a variable loan because the interest is locked in for a set period of time. Assessment rates, which aren't typically published, are one of the reasons why online calculators can be extremely misleading. By using the current interest rate you be disappointed when your capacity to borrow is much less than expected. Since different lenders have different assessment rates and will offer different amounts, it clearly pays for borrowers to contact an experienced, qualified finance broker who can guide them towards the lender that is most suited to their needs and situation.

23.01.2022 CBA have just announced they will be passing on the full .25% rate decrease. I did not expect that! That is great news for home owners and seekers. Send me a message to see if I can get you can get a better rate!

22.01.2022 Have you checked your rate recently? Do you know your home loan’s interest rate? You may be surprised to learn that more than eight in ten home owners don’t, and may be paying more than they need to.... Suppose you have a $500,000, 30-year variable-rate home loan at 4.55%. A reduction of 0.5% could save you $1752 in one year#. Contact me to see if we can save you some money.

20.01.2022 Did you set up your loan with the right features? There are loan features that you might need now or down the track, such as an offset account or the ability to redraw or top up. These features do not have to make your loan more expensive,if fact they may save you money. It’s important to design a loan based on your needs now and in the future.... This is why independent mortgage advice is so important. It’s never too late to review your current arrangement and see if refinancing will save you money

20.01.2022 Many people forget to budget for things when buying a property for example; Settlement adjustments: such as adjustments of rates, water, land tax and other outgoings may increase or decrease the settlement balance payable to the seller depending on whether the seller has paid outgoings in advance or is in arrears.

17.01.2022 Have you heard that the banks have put up interest rates even though the RBA hasn't changed the official cash rate. What does this mean to you? are you still getting a good rate? Get in contact with me and I'll have a look at your loan to see if there is a better deal for you. It could save you $1,000's. I will even do this for you at no charge. ... That right 100% FREE See more

16.01.2022 Talk to us if your thinking about buying a home.

12.01.2022 Yeah thanks for that! (I say with a very sarcastic tone) ME bank only passing on .05% of the rate cut.

11.01.2022 RATE HIKE FRIDAY! Thirteen lenders will lift their variable rates today for both owner-occupiers and investors. Is your bank one of them? An analysis shows that ‘Rate Hike Friday’ will hit mortgage holders by an average of 0.17 percentage points, which translates to $372 per year on a $300,000 home loan.... Now is a great time to get in touch with us for a FREE check to make sure you are getting the best deal you can. Send me an email [email protected] or call 0418 471 177

11.01.2022 Wow this is a scary statistic. But it does make you think how much your life and your familys life would change if you were un able to provide for them. This is just as important as home insurance, but few people have it in place. Talk to me about protecting your familys lifestyle.

10.01.2022 Some good Insight on why Finance Brokers are so important this day and age.

10.01.2022 A major bank has just said "This represents the lowest Standard Variable Rate offered to home loan customers in the Bank’s history"

08.01.2022 Whats your back up plan? Often clients are surprised when I ask them , how do you plan on keeping your home if you cant work anymore? Its not something that we think about but really should.... At Lifeyield we look at the big picture not just today. See more

06.01.2022 Who wants a $75 cash bonus? ING are once again offering FREE cash.

06.01.2022 Thinking about buying a home or investment this year? How much can you borrow? Times have changed, contact me to find out which bank will lend you more.

04.01.2022 Why your broker asks so many questions? Ever wondered why mortgage brokers have to ask you so many questions about your financial circumstances? It’s to ensure that fraudulent applications don’t slip through the cracks and that your loan suits your needs now and your plans for the future. It is your broker’s job to find out everything they can about your financial situation and your goals for the future. Not only does the process help to identify fraudulent application activ...ity, it also ensures that they are serving your best interests. You will definitely be asked to provide proof of identification as well as details about your income and spending habits. Your broker will want to discern how much you can afford to borrow. You will need to prove this by way of payslips or proof of income. You will be asked to provide information regarding your dependants, any lawsuits you may be involved in and whether you have filed bankruptcy, and you might be asked twice, by your broker and by the lender. Bransgroves Lawyers Partner Matthew Bransgrove explains that, while the process may seem onerous, there is good reason for extensive questioning. While it may feel like your broker has mishandled your answers or that some of the questions are not relevant ‘what was your previous address six years ago?’ requestioning and cross checking is a normal procedure followed during loan applications. To checkmate fraudsters, the information that is verified is not always directly relevant to their assessment of the loan, sometimes it is simply to check that the earlier information provided was true, Bransgrove adds. Bransgrove confirms, this is not because the lenders are being inefficient, but because they are performing due diligence Brokers are required by law to provide potential lenders with applications that disclose all of this information to ensure fraud is ruled out, and lenders can make an informed and ethical decision regarding how much they will loan. These bottle necks in the lending process are a little bit like the security screen we all have to go through at the airport. It is tedious but we all understand it is necessary in order to ensure a safe flight, says Bransgrove. The fraud that is prevented may very well be against yourself. The MFAA holds its Accredited Finance Brokers to the highest professional and ethical standards in the industry, meaning that brokers are obliged to dig deep into Brokers can face claims against them if they submit inaccurate documentation, regardless of whether falsities are the brokers’ intention, a mistake or the result of a client’s dishonesty. See more

03.01.2022 Have you ever wondered what that comparison rate actually means? Well a comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, fees and charges and displays a single percentage rate that can be used to compare various loans from different lenders. An interest rate of 3.99% may not be as great as it seems when the comparison rate is 4.89%.

02.01.2022 Don’t go for the new project home in a fringe location - remember that only the land increases over time, not the improvements a tried and true adage in real estate. Forget about having all the mod cons when buying your First house buy a shack on the best land you can. It will serve you well in the long term.

01.01.2022 Do you have a Home loan with Westpac, ANZ, NAB, or St George? Are you wanting to lock in a great rate for 1-5 years? We will guarantee to beat any advertised 1 to 5 Year Fixed Rate Home / Investment Home Loan interest rate. T& C apply contact us for more details. 1300 857 131