Jia Wu in Perth, Western Australia | Mortgage brokers

Jia Wu

Locality: Perth, Western Australia

Phone: +61 433 221 565

Address: Southern River 6110 Perth, WA, Australia

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24.01.2022 Variable Interest Rate - Are you sure this is the right choice for you? With so many different loans on the market, it's easy to get a little confused. It's not always simple to work out which lender is offering the best deal, or who has the best interest rate. One of the main choices you need to make early on, is whether to opt for a standard variable interest rate, or a fixed rate loan.... Many lenders offer fixed rate loans for 1 to 3 years, some even offer periods of up to 10 years without a change to your interest rate. So with all of this certainty on offer, what are the benefits of the old-fashioned variable interest rate? Lower interest rate Usually your rate will be lower than a fixed rate mortgage, meaning that you pay less interest. Variable rates are generally lower than fixed rates. If you choose to fix your rate, you're paying for the certainty that this offers. Take advantage of decreasing cash rate If your lender reduces their standard variable interest rate, your interest will be reduced accordingly, meaning that you always pay the lowest standard rate that your lender is offering. So when the Reserve Bank lowers the official cash rate, there is a good chance that your repayments will reduce. Features and Flexibility Usually standard variable rate loans offer an array of features that you don't get with a fixed rate loan. Most variable rate loans give you the flexibility to make additional payments when you want to, but then redraw the extra money again later if your situation changes. Many lenders also allow offset accounts for your savings which reduce the overall interest charged on your loan - because the bank takes your savings into account before calculating your interest. When you opt for a variable rate loan, you always have the flexibility to fix your rate later, meaning that you can wait and see if rates are further reduced, potentially saving you money. If you have already fixed your rate, you will continue to pay the same interest rate even when the official cash rate continues to decrease. On the other hand though, if the official cash rate rises, your loan repayments will increase accordingly. Did you make the mistake of borrowing too much? If you opt for a variable rate loan, and then interest rates start to rise, you might find that you struggle to meet your repayments. To avoid issues in the future, it's really important that you take the time to compare the loans available to you, and choose the loan that suits your lifestyle and budget.

23.01.2022 Australia has once again become a nation of savers. No longer is debt de rigeur. In this post-GFC era we prefer to play it safe with lower levels of debt and are looking for ways to be debt-free faster. Savvy savers are making the most of low interest rates and their savings by maximising offset accounts. An offset account is essentially a savings account that is linked to a loan account. Instead of earning interest on your savings deposit, the funds are used to offset the lo...Continue reading

23.01.2022 How to avoid getting stuck in the borrower's 'land of confusion': Comparing the true cost of a loan can be a lot more complicated than it seems. Comparison Rates are one way of comparing loans, but it doesn't always provide a complete picture of the total cost of the loan.... Make a mistake and you could pay thousands more in interest than you should. To avoid this, have a look at this short guide - "Land of Confusion". https://www.mortgageaustralia.com.au///landofconfusion.pdf

22.01.2022 Some tips to help you buy your next car for less. Enjoy that new car smell longer. There is something special about buying a brand new vehicle - the smell... the pristine paint... the purring of a well timed and perfectly balanced motor.... ... So how do you ensure that feeling is not soured as you drive out of the car dealership? Car dealerships can be a very high pressured sales environment. The salesperson has a number of techniques they will utilise to ensure their bottom line is better than yours. The most important factor to ensure you obtain a 'good deal' is to do your research before you start negotiating. When buying a new vehicle, generally a number of individual transactions take place: 1. purchasing your new vehicle, 2. selling your old vehicle, and 3. organising finance. When negotiating, you should strive to win on each of these transactions. Before entering negotiations with the salesperson it is recommended you complete the following steps, which are outlined here in my latest factsheet: "Enjoy that new car smell longer!" https://www.mortgageaustralia.com.au//enjoythatnewcarsmell

20.01.2022 The mortgage market is competitive and always on the move. And things in your life are probably on the move too. My role as a mortgage broker is to ensure my clients have the right home loan to meet their needs. And as things change, either with your situation or with the lending landscape, a regular review makes sure that your loan is still the right fit. To get an idea of when it might be time to take a look around, our Mortgage Indicator is a super simple place to start - ...if you answer any of our questions below with a 'yes', then you're heading into the red zone where it is time for a quick catch-up to make sure your finance solution is still the right fit. The more questions you answer yes to, the more important it is to get cracking on a review. - Are you thinking about renovating your home? - Are you thinking about moving house or even caught yourself scanning real estate sites or the for sale section of the paper? - Has life changed for you since you took out your loan? Is your relationship status still the same, have you changed jobs or increased your salary or are there any new children in your home? - Do you have a few spare dollars each week you could use to pay down your home loan faster and save on repayments? - Do you have any money left over each month to potentially start a small investment fund? - Have you thought about consolidating your debts? If you have a credit card you just can't pay down or a car or personal loan, you might save by rolling these debts into one. - Are you concerned about being able to meet your current loan repayments? - Have a think about the questions above, and if you'd answer 'yes' to any of them, it's time to talk. A review of your finances is a quick and painless exercise and you know that I'll be going into bat for you. I'll do all the running around and negotiating with the lenders on your behalf, knowing which questions to ask and hunting down the features that will be of most benefit to you. Give me a call or shoot me a quick email and we can make a time to run through what's been happening and I'll get the ball rolling for you.

14.01.2022 Cure your confusion today - 9 steps to purchasing your first home. Do you start to get a headache when you think about everything involved in getting a home loan? Don't despair. Many other borrowers have felt the same way in the past. ...Continue reading

13.01.2022 How to make sure your next home isn't a money pit. The typical home purchaser spends around 90 hours over 6 months browsing the internet, researching websites, visiting real estate agencies and inspecting no less than a dozen properties. However we only spend a little more than one hour inspecting the home we eventually purchase.... Not surprisingly, 55% of us discover 'hidden problems' after the settlement. Please read this article on how to avoid problems before finalising the purchase of your next home - Biggest Investment. https://www.mortgageaustralia.com.au//biggestinvestment.pdf

12.01.2022 Read this before you sign on the dotted line: Have you been asked to act as guarantor for your child or another family member? Before you whip out a pen and sign the contracts, you need to hear Wendy's story. Wendy is in her mid- sixties, and lives in Perth with her son. She has a granny flat at the rear of her son's property where she stays with her two dogs, Millie and Ellie....Continue reading

10.01.2022 Did you know Mortgage Stamp Duty is no longer charged on refinanced home loans? When our home or car insurance comes up for renewal each year, most of us (hopefully) invest the time to shop around and investigate the competition to make sure we are getting a good deal. The average Australian with a mortgage spends 18% of their gross income on housing costs. With such a large investment, why do we not give our home loan the same regular review?... With the recent change that Mortgage Stamp Duty is no longer charged on refinancing your home, it is a lot cheaper and easier than many people think to switch loans. For more details, read my "Change can be good" article. https://www.mortgageaustralia.com.au///changecanbegood.pdf

08.01.2022 Have you considered a second residence on your property? Home owners looking to invest in a rental property without taking on significant debt are finding a solution in their own backyard. The granny flat is regaining popularity as a solution to tight rental markets, an ageing population and metropolitan land shortages, thanks to more relaxed legislation in some parts of Australia....Continue reading

05.01.2022 Are a few unfamiliar words stopping you from building wealth? Are you thinking about dipping your foot in with property investment, but don't really know where to start? There is a lot of information out there, but many first-time investors become overwhelmed by all the technical stuff. Don't panic though - here is a list of some of the most common phrases to do with property investment - and they have been de-mystified for you....Continue reading

03.01.2022 BUYER BEWARE THE BARGAINS Limited cash flow and equity mean many first-time property investors feel the need to chase down a bargain to enter the market. But, like most things in life, you usually get what you pay for, which in the case of property can mean unrealised returns or even losses. While theres nothing wrong with paying less in the hope of making more, investors need to understand when a cheap property is truly a bargain and when they could be selling (or rath...Continue reading