Mortgage Broker in Doncaster East, Victoria, Australia | Financial service

Mortgage Broker

Locality: Doncaster East, Victoria, Australia

Phone: +61 433 288 815

Address: Suite 3, 1012 Doncaster Road 3109 Doncaster East, VIC, Australia

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

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24.01.2022 Is this your bank? Then it's time to take advantage of our Free Loan Comparison Service. Some clients discovered saving $300+ per month by switching to a better deal. Private message me today to see how much you could save by switching.

23.01.2022 Did You Know - the Earth weighs 6,588,000,000,000,000,000 tons

23.01.2022 Why do banks and agents value your home differently? Have you ever wondered why your lender will give you one value for a house while the real estate agent has said something completely different? How do you know the real value of a property when everyone is giving different quotes? ... The difference in the two valuations is due to the lender and the agent assessing different aspects of the property’s value the lender is looking at how much to comfortably lend you in relation to the cost of the property, while the agent is looking for a sale price. Bank valuations vs market valuation The property’s market value is the estimated amount for which the property should fetch on the date of valuation, assuming a buyer and seller were to enter willingly into a sales transaction. The bank valuation is the amount that the lender is prepared to lend against the property. How is the bank valuation made? The bank or lender appoints a valuer to independently verify the value of the property. As the property is the asset providing security for the loan, the bank valuation generally tends to be more subjective and conservative, to protect the lender financially in case you cannot pay your mortgage and the property must be sold to cover your debt. While the bank valuation is based on extensive research into comparable properties, it will be lowered when the buyer is borrowing more this is a way for the bank to balance its risk. The bank’s valuer can potentially be held liable if the bank suffers financial loss, so they prefer to make a safer more conservative estimate. The valuer can also advise the bank to refuse the finance application if they believe the buyer has paid too much for the property. Not happy with the bank valuation? If you are dissatisfied with the bank valuation of your chosen property, you have two options request a reassessment of the valuation; or cancel your finance application and start again with another lender. The bank will only do a reassessment if you can provide evidence that comparable properties reflect a higher value than their valuation. You should also check that the market valuation reflects the true market price of a comparable property, as you may find that the seller has overpriced the property. You can hire an independent valuation company to make a market valuation of the property. How is the market appraisal made? The market opinion is assessed by a real estate agent, and establishes the asking price for the home. The agent has a different agenda than the bank’s representative they want to value the property to achieve the highest possible price in the sale. However, they do need to work realistically within the parameters of recent sales and real estate activity in the area. The vendor can receive valuations from several agents when deciding which agent to appoint to sell the property. Whether you are buying or selling, contact us today if you want independent advice about your property.

22.01.2022 Top Six Reasons why your home loan might be declined You’re ready to buy a home, but you can’t find a lender who will approve your home loan. While this might seem discouraging and frustrating, it is not necessarily the end of your dream to become a home owner. Once you know the reason that you are considered a bad risk, you can improve your eligibility. Usually, it just takes a little more time and to improve your eligibility. Here are the top six reasons lenders might decl...Continue reading

21.01.2022 Understanding the buying and loan process Purchasing a new home or an investment property can be a daunting prospect, and you might find it difficult to identify the first logical step. Here we look at the process of securing a loan so you can buy the property that suits your needs and your budget. Ask yourself what you want to achieve...Continue reading

21.01.2022 Which is better? Plan A - Buy a home Or Plan B - Buy an investment property and rent

19.01.2022 Looking to invest in property to create wealth, security & freedom? Sometimes you need to be creative to find the right solution! Private message me to set up a meeting to explore your options. (we'll cover your borrowing capacity, loan structuring, property options, repayment options, rates etc)

19.01.2022 "Never give up on something that you can't go a day without thinking about."

19.01.2022 5 Ways To Tell If You Found The Right House You’ve seen a lot of homes lately. You have been out every weekend searching for the right home for you. At this point, you might not be sure it’s even out there, or if it is, you might not find it. Then you drive up to a home that gives you hope. At this point, however, how can you tell if it is the right house for you? Here are 5 sure signs that you’ve found the right house:... 1. You feel excited. Just as your first love might have given you knots in your stomach, the right home could as well. You start to imagine a life in the home and it’s exciting. 2. You overlook the flaws. You are realistically seeing the negative aspects of the home and are willing to overlook them. Maybe you wanted a view and this home doesn’t have one. But the beautiful kitchen remodel and spacious landscaped yard make up for that. 3. It doesn’t have your deal breakers. You should never compromise on the real deal breakers in your criteria. That might be tempting if the master bathroom is perfect, but if you have to have 4 bedrooms and this is really just a 3 bedroom, you’ll regret buying the home. 4. It fits your overall criteria. The home is located in the school district, city or neighbourhood you want. The larger lifestyle aspects line up with the home. 5. You can afford it. So important! There is no reason to go see homes you truly can’t afford, but it happens. The right home is in your budget. Of course there are many more aspects which goes into knowing if the home is the right home for you and your family. One of the best ways to know you’ve found the right home is how badly you want the house. Once you’ve left the showing have you compared all other houses to this one? Do you talk about it, think about it? Can you imagine yourself in the home? If so, you’ve found the right one. So if you’ve found the right home, write that offer! Don’t let it get away!

17.01.2022 Did you know that your borrowing capacity can vary by over $200,000 + depending on which lender you use ... So if your current lender isn't giving you the funds you need - get a 2nd opinion ... you may just get the loan you want with better terms ...

16.01.2022 Tips for first home buyers Buying your first property can be a bewildering experience, and there are any pitfalls that could lead to potentially expensive regret. With careful research and financial management, you can buy the right property for your needs while establishing a sound financial investment. Start small and think long-term... Property appreciates in value and the toughest part of the journey is actually making that first step into the property market. Rather than having your heart set on a waterfront mansion, think small for your first purchase look at for a property you can afford more easily, which will work as a step up towards something more aspirational. Your small property will increase in value while you build equity, and this is the ideal foundation for a valuable property portfolio. Calculate how much you can afford to invest It can be tempting to spend a little more on the best property, but realistically, you want to stay within a budget where you can gradually build equity and increase the value of your investment. Your circumstances can change over the long term, so you want to calculate conservatively, based on what you can afford to pay off. Saving for your deposit is an excellent practice run to calculate how much you can afford to spend on mortgage payments each month. Best of all, while you are saving, you can’t fail! If you find that you have over-estimated, you simply need to reduce your monthly savings, while you still have a growing deposit. Save a substantial deposit The bigger your deposit, the more flexibility you gain you will have more options for attractive home loan rates, you will have a wider range of choices when purchasing and your repayments will be easier to manage. Do your research When you find the right property, start by researching the market value of the home. You may be able to negotiate the price down, if you know that other comparable houses are priced lower. Also research any council plans for the area, and other logistical aspects of the property, such as proximity to public transport and shops. Most importantly, request a property inspection to see if there are any issues regarding structure, water or electricity. Some issues might give you some leeway to renegotiate the asking price, while other issues might have you reconsidering the purchase due to potentially expensive repairs or dangerous living conditions. Seek financial expertise Talk to a financial expert, such as a mortgage broker, to establish the best loan package for your needs and to help you navigate all the legal and financial paperwork involved in purchasing a property. The right home loan can make a huge difference by reducing the amount of interest you need to pay over the long term and helping you pay your loan off faster.

15.01.2022 Do something Today that makes you Happy!

15.01.2022 Eight tips for New Australians wanting to purchase property If you are new to Australia and looking to establish a comfortable, settled life here, then sooner or later, you will naturally consider buying property, either as an investment or a home for your family. So there are a few things you need to do in preparation for your first property purchase. 1. Find steady employment...Continue reading

14.01.2022 So true haha .. have a fantastic day :)

14.01.2022 Don't let this happen to you! Get a broker to find the right loan & get approved. Message me to give you a professional take on your situation.

13.01.2022 Tips to pay off your mortgage sooner Your home loan is probably the biggest financial investment you will make, and you want it to give you a sense of security rather than stress. While paying off your home loan might seem a formidable task, there are ways you can reduce your mortgage, and thereby reducing the interest you pay overall. Make your home loan your priority...Continue reading

13.01.2022 Upgrading Your Home Before Selling? Most people have walked through beautiful model homes and wished their own home had all those modern features. Model homes showcase the latest in upgrades and decorating styles. When we get home all we can see is the tile in our bathrooms and yesterday’s details in our kitchens. These things can become overwhelming if we are considering a home sale in the near future. Can I even sell my house with granite countertops anymore?... Before you grab the sledge hammer and plan a DIY weekend of expanding your family room, take a breath. Your home doesn’t need to be the latest and greatest to fetch top dollar in the resale market. As you evaluate making changes to your home prior to listing it for sale, the first thing you should do is talk with your real estate agent. They have market experience which allows them to speak with you about how your home compares to others in your area. They work with buyers and sellers every day and know what features and upgrades are top sellersand which don’t matter at all. While the urban modern home in the magazine looks great, changing the details in your country house into industrial loft style is not an improvement. Some improvements do translate to better sales price in every case. Outdated wallpaper, dirty and worn carpet and dark rooms can always use improvement. New or cleaned carpet and a fresh coat of paint, coupled with light bright lighting, will really showcase the best features of your home. Each neighbourhood is different. As you work with your agent, you might find that there are upgrades which will net you a significantly higher sales price. For instance, if you are located in a high end, luxury neighborhood, those buyers expect updated kitchens and bathrooms and you might want to put some money into those rooms to market your home in the top end of the market. But again, talk with your agent before you guess. You don’t want to spend thousands of dollars in upgrades that your buyers don’t care aboutor worse. don’t want.

12.01.2022 "Life isn't about waiting for the storm to pass... It's about learning to dance in the rain."

08.01.2022 Top tips for young property investors It is possible for people to launch into the property investment market in their early twenties in fact, this is a great time to start, when you are first launching into your career and don’t yet have any other financial responsibilities such as a family to support. However, buying an investment property can never be an impulse decision it takes self-discipline and applied knowledge to start building a profitable investment propert...y portfolio. Set a budget and save The first step of course is to start saving for your first deposit, which is usually at least 20% of the purchase price (can be lower, check with your broker). You will need to be focused and realistic, and quite single minded in order to save a sufficient amount. Your best option is to set a budget and create a clear financial plan that will help you remain focused and prepared once you do buy your first property. Think long term While some of your peers will be looking into short term gratification visiting pubs and night clubs, booking overseas holidays or buying a new car - you need to establish a mind-set that focuses on the long term rewards of building your investment portfolio. Learn from the experts While you are saving your deposit, take this time to educate yourself about the property investment market and the best type of property for your first investment. Read articles about property investment and monitor the real estate section of your local newspaper, so you can build a vision of an affordable and profitable investment property. Consult local agents and mortgage brokers as soon as possible so they can offer their insight into the market. Seek advice from a professional accountant, who can oversee your savings plan and advise you on your first home loan. Consider a family guarantee If you have the option, you could ask a family member to act as guarantor of your bank loan. The guarantor allows the equity in their property to act as additional security for your home loan. This strategy could potentially reduce the amount of deposit you need to save. You can split the loan into two portions, so your guarantor is only guaranteeing one portion of the loan. That way, you can pay off that portion first, so you can release your guarantor from the agreement as soon as possible. Invest, don’t gamble Gambling is a game of chance where you can hope to win big but you are perhaps more likely to lose it all. Investment is based on knowledge and experience, so you make decisions that will be profitable in the long term. Learn everything you can about the property and the market, so you can make objective, beneficial decisions.

08.01.2022 HaHa love it ... Like & Share - tomorrow LOL

08.01.2022 What happens when your fixed rate expires? Do you know when your fixed rate term is coming to an end? Once it finishes, the bank is free to quietly switch you to a higher interest rate unless you act fast! Think of how costly it could be if you simply let the bank choose your interest rate. If your bank charges you just 0.5% more than the competitive interest rates, this adds up to a significant amount over the term of your loan. You can save yourself a great deal of money... and perhaps even cut years of your loan, if you are proactive about monitoring your interest rates and choosing the right option for you. Switching to a variable rate A variable rate can be a great option if you want to take advantage of low interest rates, or if you want the flexibility to redraw or make extra payments. When your fixed rate term expires, the bank will automatically switch your loan to the Bank Standard Variable Rate (BSVR). Do some research to find out whether this is a competitive rate; if not, you can talk to your bank and try negotiating a better deal. And if they do not offer you a competitive rate, you can switch lenders. Lenders generally prefer to negotiate rather than lose a customer, while they don’t generally make their best offers to customers with a proven history of loyalty. So when it comes to your interest rate, stay alert and ask questions keep your lender busy, trying to keep you happy! Extend your fixed rate One option is to ask the bank to refix your home loan, extending it for another one, three, five to ten years. The fixed rate is a good option for you, if you are planning to pay off your loan steadily over a long period of time, and you want each mortgage payment to be a regular amount so you can budget your money precisely. Fixed rate protects you from rate rises and you could be paying less than the variable rate. However, there is also the risk that you could end up paying higher than the market rate if you are locked into an outdated fixed interest term. There may also be a break fee if you change or pay off your loan within the fixed period; this means the fixed rate is not a good option for anyone planning to sell their home. Call us today if you need assistance pinpointing the best and most competitive option for you.

07.01.2022 On a more serious note... (Like & Share if you had a laugh)

06.01.2022 Why you need a property inspection Whether you are purchasing a new home or an investment property, you are about to embark on one of the most important financial investments of your life. So it is essential to ensure that you are getting a fair deal. Yet, while buyers can be scrupulous about checking contracts and researching market prices, a surprising number of people tend to skip the property inspection. This means that you are taking ownership of any issues that could d...Continue reading

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05.01.2022 Tip: Did you know you can split your home loan e.g. have one half as a variable rate home loan and the other half fixed... giving you the best of both worlds - flexibility and security! (To ascertain if this strategy is appropriate for you, click the message button above for a professional take on your situation)

04.01.2022 Tip: Watch your credit card limit! Even if your balance is zero, the higher your limit the lower your borrowing capacity.

02.01.2022 Top Property Investment Mistakes 1. Emotional investment When you are choosing an investment property, there is no such thing as love at first sight. If you make an emotional investment before you have done your research into the location and the rental potential, you are at risk of making an extremely expensive mistake. Investors who let emotion rule their decision-making are far more likely to over-capitalise from the beginning, making it even more challenging to ensur...Continue reading

02.01.2022 Questions to ask your broker 1. What are your qualifications? Before discussing your own finances, check that the mortgage broker is fully qualified to give you professional guidance. As a minimum requirement, an Australian mortgage broker should have a Certificate IV in Finance and Mortgage Broking, and they should operate under their own Australian Credit Licence (ACL) or as a credit representative under another entity’s ACL. ...Continue reading