Mortgage Choice Mudgee in Mudgee, New South Wales | Mortgage brokers

Mortgage Choice Mudgee

Locality: Mudgee, New South Wales

Phone: +61 2 5300 2840

Address: 95 Church St 2850 Mudgee, NSW, Australia

Website: http://www.mortgagechoice.com.au/jason.bromley

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25.01.2022 Worlds 1st negative interest rate loan launched in Denmark. Others to follow. Following my post yesterday, it doesnt seem all that far fetched to get paid by the bank to take out a home loan. Go figure......

25.01.2022 Options for a Deposit When buying your 1st or next property, you need a deposit from somewhere & the options you have are: 1. Savings. 2. A cash gift to go with any savings you have... 3. A Security Guarantee. This is where you borrow against the security guarantors property (usually a parent) for the deposit amount. 4. Equity from another property you own - ie: borrow against your existing property for your deposit to buy another one. There are pros & cons to each, & there are other policy hurdles you may need to navigate (eg: 5% genuine savings history etc), but theyre your options in a nutshell.

25.01.2022 A post for Miners looking to borrow..... Lender policies can vary greatly when it comes to Miners income structures. For example, most lenders require 2 years for bonus income & 6 months consistent overtime, yet some lenders will allow bonus as base income if it is consistent & doesnt vary (such as Wilpi bonus scheme), while others will take 6 months of receiving bonus but only up to a certain amount. We also have a lender that will take overtime income after 3 months of re...ceiving it. Ive had 2 miners from the same mine who qualified with a different lender than each other, simply due to the slightly different breakdown of their pay. If a lender has told you no, dont just assume others will do the same. My job is to shop around for you to place you with the right lender & loan for you situation & circumstances. Mortgage broker services are free to you for residential lending, so why not use that service to get the right advice & loan. See more

24.01.2022 This article states that the futures market (what the market believes will happen) has already priced in a whopping 0.75% interest rate reduction by mid 2020. Time will tell.

24.01.2022 Rates going down again soon?

24.01.2022 A Refinance Success Story....... Just did a refinance on a loan to a lower interest rate & saved the customer $200 per month in interest charges. With a refinance costing roughly $1000 in Bank & Land Titles Office fees, they will be reaping the rewards within 6 months. Within a year they will be around $1400 in front. The following year......nearly $2400. Thats $3800 in 2 years & a whopping $6000 saved in 3 years. Theyre stoked! Have you checked out your refinancing options? Call me for a free Home Loan Health Check.

23.01.2022 FIRST HOME BUYERS DEPOSIT SCHEME ANNOUNCEMENT. The Australian Governement has released eligibility details for the new scheme due to begin 1 Jan 2020. Just click on the link & scroll down to check your eligibility. Central West will be capped at $450,000 maximum purchase price to qualify. Get in early as its only open to the first 10,000 each year. Theyll go quick. https://www.nhfic.gov.au/what-we-do/fhlds/eligibility/

22.01.2022 You may think that I am only able to help you with home loans, including refinance and investment loans, but in reality, I can also help you secure a commercial loan, equipment finance, and even a car loan. If you need any assistance with these types of loans, please feel free to give me a call.

22.01.2022 Its worth considering refinancing your existing home loan. I can do a free check to see how much we can potentially save you. While were at it, if you have any other debts (personal loans, credit cards etc) we can look at consolidating those into your home loan to save heaps of wasted interest - if you have enough equity to do so, & if it suits your circumstances. Give me a call to see if its worth it for you.

20.01.2022 July Sales Figures for Mudgee & Surrounds....... Over 30 properties sold in July 2019 in Mudgee - thats around 1 a day. Not bad for a country town. Close to 50 sold in the region (Including Gulgong, Kandos etc). A decent proportion of these were the "lifestyle" blocks in the area - properties with some acres.... With supply of properties for sale staying low, & buyers about, the local market has held up well, while other areas (particularly metro areas) have slumped. Its the fundamental economics of supply & demand....... See more

20.01.2022 40 year loans! A few people have asked about these. Remember, they are only 40 years long if you pay the minimum repayment for 40 years. You can pay off extra at any time to reduce the loan term, and the interest you pay. While very few lenders offer them, they could be the difference between renting & owning.....but only for the young.

19.01.2022 A Costly Mistake...... I was talking to someone who just recently got a mortgage to buy a house. It was an over 90% borrow so Lenders Mortgage Insurance involved. They went to their bank, NAB, & got the loan at 3.99%. Happy days. However, if they went across the road to CBA they would have got the same loan for 3.45%. Oops.....that loyalty to NAB just cost them over $1,500 per year in extra interest on their $300k mortgage. Now theyre not so happy. They should have gone to a mortgage broker.

19.01.2022 A Refinance Success Story I recently did whats called an "internal refinance" for a customer, plus increased 1 of their loans by $50k for work around the property. They were happy with their lender, but I saw that the loan product was not the best fit for them. I refinanced all 3 loans they had, staying with the same lender but changing the loan products & increasing 1 loan by $50k. The interest rates went down by 0.53%, 0.93% & 1.11%. Total interest savings over the next y...ear amounts to $3,700 AND they have a $50k bigger loan. Same Lender! Its about finding solutions that best fit your circumstances. Just another example where Banks dont work for you....Mortgage Brokers do.

19.01.2022 RBA keeps rates on hold at 1% for August

18.01.2022 Bank Introductory Rates - Be Careful! An introductory interest rate is one that is discounted for a set period (1, 2 or up to 5 years) but then reverts to a standard variable rate once the intro period ends. The problem with these is that the rate you go onto after the intro period ends is usually higher than the discount variable rate that you could have gone onto from the start (lenders dont tend to highlight this fact). This is where the banks recoup the money they lost b...y giving you a lower intro rate. You then either refinance to another lender or you get stuck on the higher rate. Refinancing will cost around $1000 which is likely more than the savings you just achieved over the intro period meaning you are not in front at all. These tend to be offered to first home buyers (but not exclusively) who have a small deposit & therefore pay mortgage insurance, so get lured into a low intro rate loan. The problem here is that if the property has not increased enough to be able to refinance & avoid mortgage insurance again after the intro period ends, then they either pay mortgage insurance again to refinance, or stay & cop the higher interest rate, therefore negating the savings achieved. The other issue is that your circumstances may change (such as a baby comes along, one partner drop income etc) & you may not be able to refinance at the end of the intro period thus locking you into a higher rate for a longer period - good for the banks, not for you. While intro rates have a place & can be advantageous in certain circumstances, you need to be careful & get good advice before jumping into one.

18.01.2022 Interest Rate Cut to 0.75% by the Reserve Bank today. Lets see who passes it on in full & who doesnt.

17.01.2022 CBA (26%) & Westpac (25%) hold 51% of all residential mortgages in Australia in total loan amount, according to the ACCC. Whats more concerning is that many borrowers only obtained 1 quote before taking out a mortgage (with the lender that gave them the quoted rate), potentially costing them thousands. It pays to shop around, & your mortgage broker does that for you, without cost to you. If youre in the real estate market to purchase, go and see a mortgage broker. If you didnt, Its not too late! We can do a free home loan health check for you to make sure you are not getting ripped off. Refinancing could save you thousands!

16.01.2022 Whats your interest rate? Are you one of the complacent ones losing hundreds, if not thousands to your lender each year? Most people dont realize how much they could save by simply asking a broker to do a free home loan health check. It only takes a few minutes over the phone to find out. I just did a refinance that is saving them just over $2000 per year ($180 per month) in interest payments, by just getting them a better rate, AND they didnt have to change all their banking, just the loan.

15.01.2022 A Beginners Guide to Deposit Bonds - Buying Property What is a deposit bond? Also known as deposit guarantees, a deposit bond is used in place of the cash deposit required when contracts are exchanged - usually 10%. Think of a deposit bond as an IOU for the deposit amount you need to secure your property. ... Just like a cash deposit, a deposit bond guarantees your commitment to an unconditional contract of sale. Then, at settlement, you simply pay the full purchase price, including the deposit amount and any other costs, like stamp duty. The only money that is exchanging hands is the deposit bond fee (usually a few hundred dollars), which you pay to the deposit bond provider upfront. Why use a deposit bond? Deposit bonds are a smart option if you want to purchase a property but dont have ready access to a cash deposit - but you will by the time of settlement. An example is where you are borrowing against equity in another property for the deposit (either you own, or a security guarantors property) & dont have access to those funds until settlement. The money is "guaranteed" to be available at settlement but you need it for exchange, so a deposit bond is used in place of the cash deposit. A very useful & necessary tool in the right circumstances.

14.01.2022 Accessing Your Super for $10,000 - Be Careful. Many Australians are raiding their superannuation funds to the tune of $10,000 due to the effects of Covid-19. But BEWARE, there are some eligibility criteria & there are penalties for going outside these rules. While the Govt is not checking your eligibility at the moment, down the track if you are found to have not met the eligibility rules then you could be in for a hefty fine & may need to pay your super back. Here is the ATO link for eligibility. Get advice from your accountant before jumping in. https://www.ato.gov.au///COVID-19-early-release-of-super/

13.01.2022 New announcement to kickstart new home building & large renovations. However there are some parameters, such as commence building within 3 months of contract date. Im sure it will help some people so have a read to see if it will help you. Its only available until 31st Dec at this stage.

13.01.2022 Some local Mudgee property stats - Dwelling types etc Mudgee has just over 86% of dwellings as stand alone houses, compared to NSW at 66% & Australia at 72%. 3 bedroom houses in Mudgee are the most popular at 43.5% of all dwellings, followed by 4 bedders at 35.5%. Both NSW & Australia have lower %s of 3 & 4 bedders, having more 1 & 2 bedders. Yet the number of people per dwelling is on par with the rest of the state. From the stats, Mudgee household quality of life is well above the state & national average. A great place to live really!

12.01.2022 Refinancing Opportunities Lenders have been dropping rates for new customers separate to the RBA rate cuts. This means there are real opportunities to save money by refinancing your current home loan. Some lenders are offering cash back incentives to refinance too. That 5 minute phone call to us might save you more than you realise.

11.01.2022 Borrowing beyond 90% Lenders have a requirement that if you borrow above 90% (some lenders like StGeorge are 85%) of the value of a property, then they require you have genuine savings equal to 5% of the property value, held or accumulated over at least a 3 month period. Some lenders will accept rental payment history to contribute towards genuine savings, & some wont. This comes into play in situations such as where a gift of cash has been given to go towards your deposit. Your savings may not add up to 5%. Thats when rental history may get you over the line. With policies varying from lender to lender, getting the right advice & the right lender could mean a yes or a no to your loan application. Thats 1 reason you should always go to a mortgage broker for your home loan. Its a free service to you!

11.01.2022 What do you think of this Massive market turnaround in Sydney and the burbs.

10.01.2022 First Home Buyers Deposit Scheme - Some Details. Here's the link to the Fact Sheet released by the Government. https://www.nhfic.gov.au//fact-sheet-first-home-loan-depos Application details are not yet released, but it gives income & price thresholds for eligibility.... Single Income: $125,000 Couple : $200,000 Regional Price cap <250,000 population: $450,000 Limit of 10,000 loans per year on a first in first serve basis. No one can apply yet, the link provides information only to date. Let me know if you're interested so I can check your eligibility once applications open. See more

10.01.2022 Your Credit Score & Report are so important nowadays in this lending environment. Get a free copy of yours before going for a loan. NAB are offering free access via this link https://www.nabcredithealth.com.au/auth/login/signup

10.01.2022 How does 2 years' worth of interest repayments on us sound? What could you do with the savings? Call us today on 53002840 to find out more. T's & C's apply: https://bit.ly/30ZOA2E

10.01.2022 With fixed rates as low as 1.79% it's a great time to see what you could save by refinancing your loan. Give me a call or message to chat about how I could help you.

08.01.2022 It's worth considering refinancing your existing home loan. I can do a free check to see how much we can potentially save you. While we're at it, if you have any other debts (personal loans, credit cards etc) we can look at consolidating those into your home loan to save heaps of wasted interest - if you have enough equity to do so, & if it suits your circumstances. Give me a call to see if it's worth it for you.

07.01.2022 The fact economists are talking recession indicates that things are not necessarily in top shape.

06.01.2022 This is a concerning trend - mortgage arrears growing despite record low interest rates (& rates dropping).

06.01.2022 Doesnt look like weve seen the bottom yet.....

06.01.2022 Can I help you with anything? If you're shopping around at the moment and want to compare a range of home loans, I can help with that. Or you can search through the home loan rates from over 25 lenders to get a better understanding of the type of loan that could suit you - https://www.mortgagechoice.com.au/home-/compare-home-loans/

06.01.2022 Hard to get your head around.......negative interest rates!

06.01.2022 Heres a post for those of you interested in local property & population statistics. Data supplied by CoreLogic/RPData. Mudgees population increased 11% over the last 5 years (compared to approx 8% for Australia). Median house prices in Mudgee also bucked the NSW downward trend, rising over the past year.

05.01.2022 1st Round of FHLDS places are NOW GONE in under 10 days!! I've just been advised that Commonwealth Bank & NAB have all their FHLDS (First Home Loan Deposit Scheme) places used up - NONE LEFT. Another 5000 places are being released through small lenders on the 1st Feb. Expect those to go super quick too as there are many 1st home buyers who have missed out so far. Another 10,000 will be released on 1st July. These figures are nation wide so it's not many places. If you're a FHB thinking of buying this year, then call me now & I'll advise you what you need to do to be ready (Genuine Savings Policy requirements, Gifts, Account conduct etc), & help you set the goals to be ready come 1st July.

04.01.2022 First Home Buyers Deposit Scheme - Some Details. Heres the link to the Fact Sheet released by the Government. https://www.nhfic.gov.au//fact-sheet-first-home-loan-depos Application details are not yet released, but it gives income & price thresholds for eligibility.... Single Income: $125,000 Couple : $200,000 Regional Price cap <250,000 population: $450,000 Limit of 10,000 loans per year on a first in first serve basis. No one can apply yet, the link provides information only to date. Let me know if youre interested so I can check your eligibility once applications open. See more

04.01.2022 Here we go again.......a big bank stinging their existing long term customer on their home loan interest rate. I Just refinanced them to another bank & saved them $5,800 in interest IN THE 1ST YEAR alone!!! Thats what we call a great customer outcome. Refinancing could save you LOTS of money.

04.01.2022 The new Mortgage Choice Mudgee Ford Ranger Sport has arrived! Thanks to Mountain Signs for the car wrap, Everything Mechanical for the ECB black alloy bullbar, & Zach Smith at McCarrolls for organizing everything ready for pick up & being so easy to deal with. If you see me around town, come & say hi & check out the awesome job.

03.01.2022 How does 2 years worth of interest repayments on us sound? What could you do with the savings? Call us today on 53002840 to find out more. Ts & Cs apply: https://bit.ly/30ZOA2E

03.01.2022 1st Round of FHLDS places are NOW GONE in under 10 days!! Ive just been advised that Commonwealth Bank & NAB have all their FHLDS (First Home Loan Deposit Scheme) places used up - NONE LEFT. Another 5000 places are being released through small lenders on the 1st Feb. Expect those to go super quick too as there are many 1st home buyers who have missed out so far. Another 10,000 will be released on 1st July. These figures are nation wide so its not many places. If youre a FHB thinking of buying this year, then call me now & Ill advise you what you need to do to be ready (Genuine Savings Policy requirements, Gifts, Account conduct etc), & help you set the goals to be ready come 1st July.

03.01.2022 "Cash Out" Loans. Did you know that you can borrow against your house (if you have enough equity) for things like cars, investing in shares, etc rather than getting a personal loan. The benefit is the interest rate is much cheaper, & you can pay it off quicker if you make repayments equivalent to what the personal loan would have been, or you can spread the loan over a longer period therefore helping your cashflow. The downside is possibly paying more interest over the life of the loan if you pay the minimum amount required, & the process is more in depth for an increase on your home loan. However it can save you thousands, or save your cashflow, if done right. Get some advice on the options available, before making an ill-informed decision on your next loan.

02.01.2022 Attention First Home Buyers!!! The possibility of a 5% home deposit and no lenders mortgage insurance (LMI). The government has announced the First Home Loan Deposit scheme (FHLDS), designed to allow easier and faster access to the property market for first home buyers!... The scheme will allow eligible first home buyers to pay a deposit of as little as 5%, while avoiding lenders mortgage insurance (LMI). With most banks and lenders requiring a minimum deposit of 20% of the propertys value to be exempt from LMI, it could be a great opportunity for you to get a foot on the property ladder. Applications have not yet opened, however the National Housing Finance and Investment Corporation (NHFIC) will provide further details on the application procedure, eligibility assessment, and regional price caps closer to the schemes start date of 1 January, 2020. With the number capped at 10,000 first home buyers and the scheme based on a first in first served basis - it pays to express your interest now. Call me today and we can check your eligibility once applications open.

01.01.2022 A common question for most first home buyers is - "How much do I need for a home loan deposit?" Your deposit is one of the biggest factors in determining the kind of loan you may be eligible for and the amount you can borrow to buy your home. As your mortgage broker, I can explain why the size of your home loan deposit matters and what counts towards your home loan deposit. ... I'm here to guide you through the process of buying your first home. Find out more here or give me a call to get started today. https://www.mortgagechoice.com.au//home/home-loan-deposit/

01.01.2022 I love saving you money....with all the great rates around at the moment have you considered refinancing? Pop in for a chat or give me a call 0412 362 788

14.12.2021 Stamp duty is a state government charge so it varies from state to state. It’s usually based on the price paid for your home or land. Stamp duty for first home buyers can be a lot less than for upgraders and investors. Plus it can also go hand in hand with the first home buyer grant. Use our stamp duty calculator to find out the cost of stamp duty on a house purchase in your state/territory - ... https://www.mortgagechoice.com.au/ho/stamp-duty-calculator/ See more

09.12.2021 If you’ve owned your home for a few years now and are looking to expand your property portfolio with the purchase of a second property, we are here to help. While commonly associated with investment purposes, getting a second home can be used for multiple reasons, such as: - a holiday home - for a family member... - a secondary residence - or, planning for retirement If this is something you're interested in, find out more information here or give me a call to discuss in more detail. https://www.mortgagechoice.com.au/guides/second-home/

02.12.2021 There are many different types of home loans available which make it difficult to decide which one is right for you. Each home loan has various features that appeal to different borrowers and the key is to find the type of home loan that is right for your circumstances. I understand that everyone's situation is different and have the experience to help you find one that suits your needs.

28.11.2021 So how much could you save? One of our client's had a loan of $500000 and was paying around 3% - I saved them $2500 a year by refinancing them to a 2.49% variable rate, plus they got a great cashback to spend as well! They're more than $5000 ahead! There's no fee for my service, I'm happy to have a chat about what I could save you too!

12.11.2021 Happy New Year to all our valued customers - why not make it your new year's resolution to book a home loan health check with us? Variable rates are extremely competitive at the moment so you may be able to secure a better deal and save!

29.10.2021 Enjoy your home a little bit more knowing you are in the right home loan. Current fixed rates are as low as 1.89%. Move to a fixed interest rate today to protect yourself for the future. Call us today on 5300 2840 to learn more.

23.10.2021 Why should you refinance? Many of us have multiple debts like car or credit card along with our home loan. Often our car and credit card loans have pretty high interest rates, meaning more out of your pocket. Refinancing could give you the opportunity to streamline your debt and potentially reduce the overall interest you’re paying through ‘debt consolidation’, streamlining all of higher interest debts into one lower interest debt, reducing your monthly repayments.

17.10.2021 There are very few financial commitments that carry as much weight as your home loan. So it makes sense that we should be checking it regularly. Refinancing is a fantastic way to save money by finding a lower interest rate. What's your current interest rate? Download our Free checklist to see if you should consider refinancing today. https://www.mortgagechoice.com.au//time-to-refinance_nc.pdf

01.10.2021 With fixed rates as low as 1.79% it's a great time to see what you could save by refinancing your loan. Give me a call or message to chat about how I could help you.

14.09.2021 I love saving you money....with all the great rates around at the moment have you considered refinancing? Pop in for a chat or give me a call 0412 362 788