Mortgage Broker Warwick in Warwick, Queensland | Property

Mortgage Broker Warwick

Locality: Warwick, Queensland

Phone: +61 418 155 600

Address: 46 Palmerin Street 4370 Warwick, QLD, Australia

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

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• Loan service
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25.01.2022 PRE_APPROVAL For those getting ready to stride into the world of home ownership, the uncertainties of pre-approval can cast a shadow of doubt over an otherwise exciting time. When is it necessary? How long does it last? And what does it involve, exactly?... Pre-approval is a lender’s assessment of your likelihood of being approved for an otherwise suitable loan. The appraisal is made on the basis of your ability to service a loan by looking into your living expenses and liabilities, your credit history, your employment circumstances and how often you have moved home or employment in the recent past. As it is performed prior to a property being found and chosen, it does not take into account the particulars of a specific property and valuation, which is why uncertainties can arise. Pre-approval is helpful for those who want to know how much they can borrow before attending open homes, and can be reassuring for new borrowers. When someone gets pre-approval they can start looking at properties knowing how much they can borrow. They know what their price range is, explains the finance broker. People take comfort in knowing that a lender has looked at their application to make sure it meets policy. Pre-approvals are usually valid for up to 90 days but, depending on the lender, may be renewed to allow more time to find a property. It is very important to note that a pre-approval is not a guaranteed loan. It is your potential lender’s way of signalling how much they expect to lend you. This may change on your official application. Policies are changing day-to-day, week-to-week at the moment, the broker says. For anybody with a conditional approval, it’s a good idea to speak to their broker to find out if any policies have changed. Another thing that may cause a lender to decline your loan application after pre-approval is a change to your pre-approval circumstances. We need to make sure the applicant has not gone and got another credit card or car lease, or any other debt that may affect their income and serviceability, the broker says. Your pre-approval will also usually be conditional on a property valuation. If your lender does not deem the property a marketable asset, they may not approve a loan. We want to check that it is a readily saleable property. That’s the biggest thing. To make sure the actual security itself is acceptable, says the broker. Potential lenders need to be wary of the changes that can affect their ability to take out a loan, regardless of pre-approval figures, to ensure they don’t overcommit without a guaranteed source of funding. Pre-approval is not a guarantee, but is a very useful tool for anyone looking for a property. Call Brad to discuss - 0418 155 600

23.01.2022 GREAT NEWS! "According to APRA, loans by banks to households via credit cards fell by 3.9% in the year to April, which sits at an 8-year low of $39.62bn." These "financial tools" are often misused. IF you are struggling with these cards, please cal; me to discuss

19.01.2022 Lenders are now looking closer at your character what you need to know Comprehensive Credit Reporting (CCR) is now in full swing, giving lenders a closer look into your financial character and highlights facilities that you may not have disclosed in your application. The CCR shows the lender if a credit facility is open or closed, the credit limit and repayment history information on a monthly basis. So, it’s really important that you talk to your broker about your faciliti...es, even the ones that you may not have used for a long time. What you need to know: 1. Be cautious of applying for credit. Every time you apply for credit, this is reported, and affects your credit score. So shopping around and applying for credit cards is not advisable. If a credit card provider declines your application for a credit card, its’s not advisable to apply to other providers hoping for a different outcome. 2. Your credit report shows if the minimum payment on your credit facilities has been made on time (or within a 14 day grace period) and if not, how late the payment was for that month. Only licensed credit providers can share and receive this information, so at the moment this does not include telco and utility. 3. Repayment history is recorded monthly and held on your credit file for 2 years. 4. A default can only be recorded on your report if you miss a payment which is more than $150 and is more than 60 days overdue. Before listing the default, the credit provider must have taken steps to collect the whole or part of the outstanding debt. This means they have sent you a written notice setting out the amount overdue and seeking payment and a separate written notice advising you the debt may be reported to a credit reporting body. 5. A default remains on your credit report for 5 years. 6. Paying your bills on time and avoiding getting a default on your credit report are positive impacts on your credit rating or Equifax Score. 7. A number of late payments could be an indication you are in financial stress and may negatively impact your credit report. 8. If you are concerned about late payments, defaults or past poor history (including bankruptcies), and how this will affect your home loan application, discuss this with your broker. If you want to get a copy of your credit report, you can create a myEquifax account to get two free Equifax credit reports each year by going to https://my.equifax.com/consumer-registration/UCSC/.

18.01.2022 Difficult topic to discuss, but there are options. Important to have protection. Call to discuss - 0418 155 600

16.01.2022 Choice ... of Lenders Experience ... 22 plus years Convenience ... 30+ Lender under 'one roof'Choice ... of Lenders Experience ... 22 plus years Convenience ... 30+ Lender under 'one roof'

13.01.2022 A friendly reminder ...

12.01.2022 It is great to see some detail on the HomeBuilder scheme. Hopefully Banks will be able to take the Scheme into consideration when clients want to build.

12.01.2022 Is NOW a good time to FIX? A good question, and the answer depends. Rates seems to be dropping and may go down further. A better question is, how much are you planning to pay off the loan in the next two to three years? If you can pay additional off, then a combination of fixed and varaible may be worth consdiering.... Best to request a review. We are booking in online reviews now for those interested in looking into options. Call Brad today to discuss - 0418 155 600 See more

12.01.2022 Coronavirus Prompts Further Cut. The RBA has lowered rates to 0.5%. Let's plan your next move. Whilst the majority of economists agreed that the RBA would announce a rate cut at today’s monthly reserve bank meeting due to the havoc caused by the coronavirus on global markets, many economic commentators argued strongly against it.... In a statement accompanying the decision, RBA Governor Philip Lowe said: The Board took this decision to support the economy as it responds to the global coronavirus outbreak. ... The coronavirus has clouded the near-term outlook for the global economy and means that global growth in the first half of 2020 will be lower than earlier expected. Prior to the outbreak, there were signs that the slowdown in the global economy that started in 2018 was coming to an end. It is too early to tell how persistent the effects of the coronavirus will be and at what point the global economy will return to an improving path. ... The coronavirus outbreak overseas is having a significant effect on the Australian economy at present, particularly in the education and travel sectors. The uncertainty that it is creating is also likely to affect domestic spending. As a result, GDP growth in the March quarter is likely to be noticeably weaker than earlier expected. Given the evolving situation, it is difficult to predict how large and long-lasting the effect will be. Once the coronavirus is contained, the Australian economy is expected to return to an improving trend. ... There are further signs of a pick-up in established housing markets, with prices rising in most markets, in some cases quite strongly. Mortgage loan commitments have also picked up, although demand for credit by investors remains subdued. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality. Credit conditions for small and medium-sized businesses remain tight. ... The global outbreak of the coronavirus is expected to delay progress in Australia towards full employment and the inflation target. The Board therefore judged that it was appropriate to ease monetary policy further to provide additional support to employment and economic activity. It will continue to monitor developments closely and to assess the implications of the coronavirus for the economy. The Board is prepared to ease monetary policy further to support the Australian economy. To read the full statement, go to https://www.rba.gov.au/media-releases/2020/mr-20-06.html

11.01.2022 We have definitely seen and increase in interest in moving to the Southern Downs Region.

11.01.2022 Very interesting read about the property market in Australia at present. https://www.corelogic.com.au/ne/boom-doombut-it-really-bad

11.01.2022 Interest Rates... With the recent drop from the RBA and a potential further drop shortly, what a GREAT opportunity to distinguish or reduce credit card debt. Budget! Budget! Budget!...use this cut to get ahead. Get on track now. I am here to help.

10.01.2022 Are you unsure what to do or what your options are with your Home Loan due to recent rates dropping? But concerned about having face-to-face- contact due to recent concerns over COVID-19 (coronavirus)? Then reach out - we have a system in place that can allow us to connect using latest technolgies... there are many to choose from. So if you have questions, and would like or need to talk with me. Please call or email me to discuss and we will see what can be done.... Do your best! We are all in this together!

06.01.2022 Finance Clauses: 14 days just isn’t enough Lenders are currently taking up to 21 days to pick up a home loan application for assessment. Fourteen days has always been sufficient time for finance, however at the moment this is proving difficult and many customers are feeling extremely frustrated with the delays. Why is this happening? Lenders documentation requirements appear to be changing every day, thanks to highlighted issues coming off the back of the Royal Commission,... the Combined Industry Forum and the like. Finance Brokers are having to constantly be aware of the lenders ever-changing requirements to ensure that they are gathering the correct documentation and information, and in turn matching you with the most suitable lender and product. The process of packaging up the proposal can take over a week before it even gets into the lenders systems. Brokers have never been more important in the application process but we need more time to efficiently package your application to ensure you receive the fastest approval possible. If you are looking at purchasing in the next three months, let’s get a head start with a pre approval or if you are signing a contract for a new h ome, take the stress out of the process and allow 21 days on your finance clause. Contact me today on 0418 155 600 for further information. See more

05.01.2022 'To fix or not to fix'? There is more to this than meet the eye. I am happy to discuss possible options, if you need to help insulate your budget from unexpected increases in the next couple of years.

04.01.2022 Record setting interest adjustment by Federal Reserve - to assist with impact of COVID-19

03.01.2022 What are the extra costs of buying a home? Here is a list to consider.