Mark O'Brien, Mortgage Broker in Narre Warren, Victoria | Financial service

Mark O'Brien, Mortgage Broker

Locality: Narre Warren, Victoria

Phone: +61 410 570 218

Address: 11 Minton Walk 3805 Narre Warren, VIC, Australia

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23.01.2022 The Bank's are loosening their grip on lending, making it easier for borrowers. With rates being cut, now is a good time to consider consolidating home loans, personal loans and credit cards, whilst maintaining a higher repayment on your home Loan. I can be contacted on 0410 570 218

21.01.2022 There are some very good fixed interest rates being offered by the Banks. Consolidating debt whilst rates are low is a way to manage finances during difficult times. Say safe and well and look after each other.

15.01.2022 I have been sharing this with clients for the past few years. How to ‘iron out’ the peaks and troughs in your cash flow. Multiply your monthly home loan payment by 12, add on your annual bills like Car registration, House & Contents Insurance and Council Rates. Divide the total by 12 and make these payments to your Home Loan, when the bill comes in for Rego etc you simply redraw it from your home loan and pay it etc for other bills you have allowed for. While the money si...ts in your home loan it is saving you interest. There are a few variations to this basic way of using your Home Loan as a cash management tool, you can divide by 11 and pay January to November and then ‘skip’ the December payment (can be a little technical but able to be done for all variable rate loans with redraw), thereby not only ironing out peaks and troughs but also enabling you to keep the monthly payment for December for Christmas who can’t do with some extra funds at Chrissy! See more

14.01.2022 The Bank's have now made it much it easier for borrowers who wish to consolidate. With rates being cut, now is a good time to consider consolidating home loans, personal loans and credit cards, whilst maintaining a higher repayment on your home Loan. I can be contacted on 0410 570 218

26.12.2021 Those of you who read my posts would know I am careful not to be political however following the release of the Royal Commission into Banking report there has been ongoing discussion regarding the payment of Brokers by the Lenders. What is now clear is that the Liberal Government has agreed to review Broker Remuneration over the next 3 years (should they retain government at the next election) whereas the Labour Opposition has now made it clear that they will implement all f...indings by the Royal Commission including the cessation of trail payments to Brokers from 1/7/2020 and for a standardised 'upfront' commission of say 1.1% as a proportion of the loan amount. Labour is unclear as to who should pay this 'upfront commission' - the lender or the borrower. The Royal Commission recommends it be the borrower! The Royal Commission also recommends that Banks may have to charge this sum as establishment costs (charge the borrower) where the borrower DOES NOT use a mortgage broker 'to provide a level playing field'. What does this mean? It means on a $600,000 home the borrower will pay either the Broker or the Lender $6,600, currently in most Loans the borrower DOES NOT pay a Lender establishment fee and in all Loans the borrower DOES NOT pay the Broker a fee (some Brokers do charge a fee but these are in the minority, and the majority of these refund that fee when the borrower proceeds with a loan through that Broker). The ongoing trail payment is a part of the interest cost on a loan - curiously the Royal Commission (and Labour and Liberal) is silent on making the Lenders reduce rates in acknowledgement of the cessation of this payment. The overall effects of these changes will be a much higher cost to borrow money for home loans borne by the borrowers and a major reduction to competition in the Home loan marketplace. Some Lenders rely almost entirely on Brokers for their business. The ONLY beneficiaries from the proposed changes are the major lenders (Big Banks) who will be able to charge high establishment fees (which they cannot charge now). What the Royal Commission and Labour fail to recognise is that the payments made to Brokers by Lenders is from future profits on the loan the broker introduces to them. This is why the Lenders pay the Brokers and why borrowers should not pay the broker. If the proposed changes are adopted (as Labour states they will do) thousands of brokers around Australia will be forced to close, thousands of jobs and families affected and the ability of new borrowers entering the market will be delayed as they will have to save at least $6,600 (on a $600K Home Loan) more. Please visit this website www.brokerbehindyou.com.au and joib the fight in support of mortgage broking. Please share this post with your friends and family and urge them to also join the fight.

19.12.2021 The Reserve Bank has kept rates on hold today. As we have seen, the Banks can lift rates by themselves. I have great success in negotiating discounts for clients and non-clients - I can be contacted on 0410 570 218

05.12.2021 I have had great success in negotiating rate discounts with the Commonwealth Bank. Tell anyone you know, friends, family, anyone with a Commowealth Home Loan to contact me on 0410 570 218

24.11.2021 The Reserve Bank has kept Rates on hold again. Talk to me about getting a better deal from your existing Bank at no cost to you. I can be contacted on 0410 570 218

05.11.2021 Has the Royal Commission shaken your faith in the Banks? When you use an independent Broker, you are getting a recommendation that is not based on targets or bonuses. You are also getting an advocate who will ensure you are getting the right deal. Just as the banking institutions are not working for you, you need to be careful about brokers who are in Real Estate Agencies and/or Accounting firms. How can you be sure you are getting someone who is working FOR YOU? At Casey & ...Bayside Lending, we put the needs of our customers first and always work to get them the best deal and the right deal. We aren’t pressured to meet targets; we aren’t reporting to a bank manager to get that next pay rise and we aren’t getting any illegal kickbacks for giving them your business. If you want to take charge and make the big banks work for your money, give me a call..0410 570 218

28.10.2021 The Reserve Bank has kept rates on hold again. Economic figures are still a bit contra-indicatory so I would expect they will remain on hold for at least the next few months but if America puts rates up this may lead to Australian Banks increasing rates outside of Reserve Bank raises. I can be contacted on 0410570218

14.10.2021 I recently reviewed the structure of a young couples home loan and managed to save them over $4,000 per annum at a cost of $395 pa. It costs nothing to review your home loan and may end up saving thousands. I can be contacted on 0410 570 218

06.10.2021 The RBA has kept rates on hold again this month continuing the record low we have experienced for over a year. Stock Market impacts in America can affect our rates here so its wise to keep an eye on whats happening in the market there and how the American Federal Reserve reacts.