Mark Simpson | Businesses

Mark Simpson

Phone: 0487 173 433

Address: 213 Fullarton Road 5063

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

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24.01.2022 Interest rates on hold for 19th consecutive month. How long will this continue? Is it time to fix your home loan? The global economy is improving, inflation in Australia is expected to trend towards 3% in the next 12-18 months, level of unemployment slowly decreasing and (hopefully) we may see wages growth improving by the year's end. If so, prepare for an interest rate hike in the Spring. Mortgage Choice CEO, Susan Mitchell, reflects these sentiments and feels the next in...terest rate rise is just around the corner. I am beginning to agree. Should this be the case, fixing your home and investment loans is something we should strongly consider -- this will in essence, provide rate stability for the short to mid term. https://www.rba.gov.au/media-releases/2018/mr-18-11.html

24.01.2022 So, who would like a better interest rate from their lender? I will review your home loan and negotiate a lower rate on your behalf and currently experiencing a 40-50% strike rate -- Banks simply do not want brokers such as myself moving their business elsewhere and will often come to the party. Failing that, there are a number of lenders offering up to $2,000 to do the same with rates well under 4%. What you got to lose https://www.surveymonkey.com/r/homeloanreview

24.01.2022 Westpac, the first of the big four to increase their rates. This is a common theme amongst lenders Australia wide with variable rates increasing by between 0.05 and 0.15% to cover the "ever increasing costs of funds". Essentially, the lenders must also maintain integrity for their investors by maintaining profit margins year on year and subsequent shareholder dividend returns. It also appears the automation of the processing in all banking departments and the shedding of job...s and branches over the past 2 decades has done little to reduce costs -- these costs are now being passed on to mortgage holders. https://www.brokernews.com.au//analysis-westpac-rate-hike-

23.01.2022 Interest rates likely to remain on hold for some time according to Treasurer Scott Morrison, speaking at the recent G20 Summit. Inflation reaching it's target of 2-3% and lower unemployment figures may eventually lead to the RBA lifting the cash rate for the first time since September, 2016. https://www.brokernews.com.au//rba-rates-unlikely-to-move-

23.01.2022 Mark Simpson Just now Royal Commission -- The banks win again The wash up from the 76 recommendations handed down by commissioner Hayne provides a gloomy outlook for all but the larger banks and shareholders.... Abolishing Trail -- Brokers review their clients often to ensure their clients are getting the better of the banks whom consistently increase rates independent of the RBA Cash Rate. Should a client of a broker approach their lender, they are referred straight back to their broker to do all the work. This is where the trail comes in. Furthermore, we must ensure the client still has a product to suit their family's needs. Borrower paying brokers for service rather than he lender paying upfront commission. Seriously! Can you imaging paying the broker and then the lender for a home loan in the future? Small lenders and Credit Unions rely heavily on the back of the broker channels -- they provide fantastic rates and offers which provide choice and competition (through lower rates). These recommendations will surely see a huge reduction in the number of brokers which will in turn see reduced competition (as these lenders/credit unions will be forced to increase rates just to stay alive) As Midnight Oil once sang, "the rich get richer, the poor get the picture" https://www.mpamagazine.com.au//brokers-take-the-brunt-of-

22.01.2022 Declining housing prices? Not really but it may be the start of something more significant. the median house price across Australia prices fell by 0.2% in the first quarter of 2018. Sydney was down 2.6% however Melbourne increased by 4.4%. Adelaide now has the lowest median house price of $470,000 compared to $492,000 in Hobart. The significant impact may not be seen for 1-2 years as we draw closer to the conclusion of the Royal Commission into banking and financial services.... Many predict the findings will result in tightening credit policy with respect to residential lending. If our borrowing capacity is significantly reduced, will this have a spin off effect on the median house price across Australia due to affordability? Given sustained high unemployment levels and slowed wages growth in recent years, this maybe a real possibility https://www.brokernews.com.au//house-prices-fall-over-firs

20.01.2022 Royal Commission -- Mortgage Brokers With the role of the mortgage broker dominating discussions this week, I feel it is important we do not understate our role in the industry. Brokers bring competitiveness to the industry resulting in more competitive products to an otherwise "Big 4" dominated market. This means lower rates, more choice and greater flexibility in the products provided.... Brokers will maintain contact with their clients over the long term and will ensure ongoing advice is provided throughout their journey AND the products held by our clients remain suitable for their family's needs. Lenders, sadly, will rarely provide ongoing advice. Bernie Lewis brokers will discuss the importance of protecting one's assets and income as well as seeking financial advice to see them through to home ownership and retirement. All lenders expect mortgage brokers to be the first point of call for the majority of their client's banking needs. The work is never done once settlement has been achieved. With around 50% of residential loans originated by mortgage brokers, today's consumer is clearly siding with the broker channel and voting with their feet. https://www.brokernews.com.au//broker-group-calls-out-defl

20.01.2022 If your rate is not under 3%, let me know. What do you have to lose

19.01.2022 Royal Commission -- Interim report released. With the final report due in February 2019, the initial reporting is now available for those of us prepared to sift through 1000 pages of information. Whilst there will be plenty of attrition, and duly so, the benefits to consumers from now and into the future cannot be understated. This is all about correcting and improving past banking and broker practices and providing the right advice to suit the needs of the consumer -- It is ...no longer about the $$$. We expect the lending process to be much more long winded than ever and more collection of information, particularly surrounding household expenditure. Watch this space https://www.brokernews.com.au//treasurer-releases-royal-co

17.01.2022 Current Rates on Offer Owner Occupied Variable Rate > 750K 3.59% Variable Rate < 750K 3.64%... 1 Year Fixed 3.58% 2 Year Fixed 3.65% 3 Year Fixed 3.79% 4 Year Fixed 3.92% 5 Year Fixed 3.98% Investment Variable Rate > 750K 3.89% Variable Rate < 750K 3.99% 1 Year Fixed 3.99% 2 Year Fixed 3.95% 3 Year Fixed 3.99% 4 Year Fixed 4.29% 5 Year Fixed 4.29% Refinance cash back offers from $1,250 to $3,000 available

17.01.2022 Broadsheet Adelaide know what's up #BBF18 http://bit.ly/ABBF18tix

17.01.2022 Tightening Credit Policies see a downturn in lending. The big question is "will we see a lowering of housing prices"? Mortgage and personal lending has reduced over the past 6 months as lenders tighten their credit policies in response to the Royal Commission into banking. With credit policies tipped to tighten even further following the release of the Commission's reporting in February, lending may drop even further.... If, for instance, our capacity to borrow money reduces even further than what it has over the past 6 months, there is a real change residential properties will reduce in value. Sydney and Melbourne are currently experiencing this issue. Adelaide, however, may only see a flattening of housing prices for the short term -- i am hoping this is the case for all concerned. Historically, Adelaide has rarely seen the spikes in housing price fluctuations when compared with the eastern states. https://www.brokernews.com.au//clean-sweep-lending-drops-a

16.01.2022 Prepare for interest rates to rise Whilst it may be some time until the next interest rate increase, it is worthwhile preparing now. It has been 8 years since the last interest rate rise and many mortgage holders have never experienced this. Effective and honest budgeting is the answer. Should rates increase from 4% to 5% over the next few years, your interest component will increase by 25%! you do the math.... https://www.brokernews.com.au//australians-urged-to-prepar

16.01.2022 Current interest rates on offer Rates on Offer 15th January 2018 Variable 3.59% Fixed 1 year 3.69%... Fixed 2 Year 3.79% Fixed 3 year 3.87% Fixed 4 year 4.19% Fixed 5 year 4.19% There are a number of lenders offering "cash back" up to $3,000 for refinancing loans greater than $300,000. Conditions apply. Call me on 0487 173 433 to discuss -- what have you got to lose?

16.01.2022 Interest rates remain on hold. Unsurprisingly, the RBA decided to keep the Cash Rate at 1.5%. May not be until late 2019 until we see any change. https://www.brokernews.com.au//rba-makes-july-decision-on-

16.01.2022 Home prices set for modest growth in 2018-19. Impending interest rate rises and the slowing of wages growth in 2017 should ensure only a moderate rise in housing prices across the nation... https://www.brokernews.com.au//home-prices-are-rising-agai

16.01.2022 Mortgage stress on the increase as national property indices flatten. Why we should tighten ou budget now. It was expected with property prices "flattening out" across the nation -- particularly in the eastern seaboard cities. However, with rates at historic lows and mortgage stress at a high, the nation is in real danger of experiencing a flurry of foreclosures in the coming years when rates do start to increase. There is no secret to the fact the RBA would like to increas...e the cash rate from 1.5% to 3.5%. If rates were to increase by 1% (from 4% to 5%), the interest component of our mortgage repayments will increase by 25%. With mortgage stress high at present, I shudder to imaging the hurt following a significant rise in interest rates. Now is the time for all households to review, tighten their budget and build their redraw capacity for the future. Making at least $200/month in repayments to the home loan will provide over $2,500/annum in redraw for those rainy days -- car breakdowns, property repairs and maintenance, hot water systems and some appliances are non-negotiables and must be attended to should they fail. Building up your redraw will significantly reduce the requirement of re-borrowing -- the main contributor to high household debt in Australia. https://www.brokernews.com.au//home-owners-in-mortgage-bur

15.01.2022 AMP are the latest lender to increase their rates citing the ever increasing cost of funds. I expect most, if not all lenders to follow suit at some stage in the next quarter https://www.brokernews.com.au//funding-costs-cause-lender-

14.01.2022 Current Rates on Offer Current interest rates on offer 10th April 2018... Home Loan Variable 3.64% 1 Year Fixed 3.69% 2 Year Fixed 3.79% 3 Year Fixed 3.87% 4 Year Fixed 4.19% 5 Year Fixed 4.09% Investment Loan Variable 3.89% 1 Year Fixed 4.09% 2 Year Fixed 3.95% 3 Year Fixed 3.99% 4 Year Fixed 4.29% 5 Year Fixed 4.49% There are a number of lenders offering "cash back" up to $3,000 for refinancing loans greater than $300,000. Conditions apply. Call me on 0487 173 433 to discuss -- what have you got to lose?

14.01.2022 Investment property as your first home purchase This is becoming a bit of a fad and makes quite good sense once you look at the numbers. If you are happy to spend 1-3 more years at home, this may be the right direction for you (or our children). Your borrowing capacity will be much higher AND your capacity to repay your loan is much greater (rent received and low living at home costs when compared to rental accommodation). ... I have a number of young clients earning a modest wage whom are planning to smash their investment debt before moving into their property once the debt reduces to an affordable level. Now a significant proportion of young Aussies are moving in this direction https://www.brokernews.com.au//first-time-buyers-choosing-

13.01.2022 Rates on hold for 24th Consecutive month With the average mortgage at 40% of the household income, moderate increases could spell trouble for many households who may not be able to absorb the increases. I feel we may be in a flat period of growth and any rate increase may well be another 12 months away. There may be no better time to make the most of these record low rates and paydown as much of the mortgage as possible.... https://www.brokernews.com.au//rba-sets-new-record-for-int

13.01.2022 Interest Rates remain on hold marking 20 months since the last rate change. We may not see any change in rates for the remainder of 2018 -- good news for mortgages. https://www.brokernews.com.au//rba-makes-decision-on-cash-

13.01.2022 Review your Home Loan now and beat the Banks! If you have any friends, colleagues or family who might benefit from a quick review of their home loan to see if they could save some money, Id love to help them out too. All you need to do is copy and past the text below and send it to your friends via email and Ill get back to them.... https://www.surveymonkey.com/r/homeloanreview

12.01.2022 I little about me https://drive.google.com//1GoZc7QnJrPNRnBdEUuhiD4QsEL/view

10.01.2022 Australian households spending around 40% of their income on food and recreation. If there is a time to reflect on our spending, now is most certainly the time before interest rates start increasing in the near future. Those households with high income to mortgage repayment ratios will be struggling to keep up with loan repayments in the future should rates increase. We know cost of living and energy bills seem to be increasing exponentially -- should our income situatio...n not improve enough AND expenditure reduce, I feel the country will be staring at record foreclosures in the short to mid term. https://www.mpamagazine.com.au//households-spend-57000-a-y

10.01.2022 Wine Review -- Tim Adam's Tempranillo, Clare Valley We look at a variety of grape which thrives under Aussie conditions but is seldom seen at the cellar door. The Spanish variety Tempranillo produces a medium to full bodied wine which is more savoury than fruity. Whilst it is not renowned for it's ageing potential, this little number is drinking perfectly at 8 years. Whilst this tempranillo is 9 years of age, it is still a worthwhile beverage after just a year or 2 being quit...e smooth on the palate when compared to a Shiraz or Cabenet of the same age. Tim Adams began making wine in 1986 and soon moved to the Clare Valley with wife Pam and opened up the Tim Adams cellar door in 1987. The 2009 Tempranillo is medium bodied with hints of dark cherries and spice on the nose. It is drinking perfectly now and is a perfect, easy drinking compliment to roast lamb, casseroles or to simply share with friends and family over lunch. Whilst the wine is peaking now, it should continue drink well until 2022.

09.01.2022 Property bubble set to burst -- what does it mean for you? There is increasing concern that housing prices in Australia will fall dramatically thus placing some property owners into a "negative equity" situation whereby their debt exceeds their property's value. This has been largely predicted by many experts for Sydney and Melbourne suburbia, but will it effect Adelaide? The government regulator, APRA, has introduced measures in recent years to curb Investment borrowing in ...Australia. The aim is to reduce the competitive demand for housing between investors and home buyers AND slow property growth which has lept to unsustainable heights. Sydney's average residence value is well over $700,000 and out of reach of the vast majority. The rob is "how will these measure affect the property market?". My thoughts are Sydney and Melbourne suburbia will suffer the most. Adelaide has traditionally been a conservative market and should not experience such profound changes in average housing prices. With some luck, our equity position will simply plateau during this corrective period. https://www.businessinsider.com.au/australia-house-prices-f

07.01.2022 Current Rates on Offer Many "Cash Back" offers up to $3,500 to refinance your loan over to another lender. Fantastic offer when you consider you may be paid for changing your lending over to a lower rate! Owner Occupied ... Variable Rate > 750K 3.64% Variable Rate < 750K 3.67% 1 Year Fixed 3.75% 2 Year Fixed 3.69% 3 Year Fixed 3.79% 4 Year Fixed 4.09% 5 Year Fixed 3.99% Investment (P&I) Variable Rate > 750K 3.99% Variable Rate < 750K 3.89% 1 Year Fixed 3.99% 2 Year Fixed 3.95% 3 Year Fixed 3.99% 4 Year Fixed 4.29% 5 Year Fixed 4.29% Investment (IO) Variable Rate > 750K 4.29% Variable Rate < 750K 4.24% 1 Year Fixed 4.19% 2 Year Fixed 4.14% 3 Year Fixed 4.19% 4 Year Fixed 4.29% 5 Year Fixed 4.59% P&I = Principal & Interest IO = Interest Only

07.01.2022 Rates to Increase in 2018 independent of RBA decisions. Bank of Queensland is the latest lender to increase their home loan rates even through many predict the RBA may not increase rates until 2019. Increases in cost of funds is the main instigator according to Anthony Rose, acting group executive for retail banking. More lenders are expected to follow. https://www.brokernews.com.au//interest-rate-hike-due-to-f

07.01.2022 Come and see us this weekend at the Master Builders SA Building and Home Improvement Show - starting Friday! We'll be there all weekend to answer any finance qu...estions you may have when it comes to building, buying, renovating and much more. See, try, and buy the latest in renovation, building, and furnishing products from over 250 companies plus gain expert advice and learn how to DIY at the extensive range of seminars and demos!

06.01.2022 Current Rates on Offer Current interest rates on offer 22nd May 2018... Home Loan Variable 3.59% 1 Year Fixed 3.58% 2 Year Fixed 3.69% 3 Year Fixed 3.79% 4 Year Fixed 3.92% 5 Year Fixed 3.98% Investment Loan Variable 3.89% 1 Year Fixed 4.09% 2 Year Fixed 3.99% 3 Year Fixed 4.09% 4 Year Fixed 4.29% 5 Year Fixed 4.59% There are a number of lenders offering "cash back" up to $3,000 for refinancing loans greater than $300,000. Conditions apply.

03.01.2022 RBA keeps cash rate at 1.5% as expected. Moderate inflation, moderate wages growth and conservative household consumption being the key factors. Most expect now change in the first half of 2018 https://www.brokernews.com.au//cash-rate-decision-is-out-2

02.01.2022 Wine Review My first review comes after travelling to Tasmania with my lovely wife Rachel. Whilst i deal with Mortgages now, i started my career in Oenology (winemaking in the early 90's) and have never looked back when it comes to seeking out and trying new wines from different regions. Today's wine is one of Australia's fine Pinot Noirs from the Tamar Valley in Launceston. Noted for it's cooler than mainland summers, early ripening varieties such as Pinot Noir and Chardonn...ay thrive. The summer here allows for an extended ripening period allowing the grapes to develop more flavour and amoras. Moores Hill Estate have produced a gem in conjunction with Native Point Wines. This 2014 Pinot Noir is medium bodied and packed with cherry and plum jam aromas with a hint of oak. The palate is packed with cherries and dark berries. It is a perfectly balanced wine with a crisp, lengthy finish. The wine should continue to thrive for up to 3 years. Enjoy with a ploughmans lunch, duck and mild curries.

02.01.2022 Cash rate remains on hold As expected, the RBA has kept rates on hold -- still few predictions of any movement until the 2nd half of 2019. WIth lenders increasing interest rates due to "increasing funding costs", there is simply no room for the RBA to up the cash rate from 1.5%. https://www.brokernews.com.au//rba-had-no-choice-on-rate-2

02.01.2022 Current Rates on Offer AND Refinance Offers Owner Occupied Variable Rate > 750K 3.64% Variable Rate < 750K 3.67%... 1 Year Fixed 3.75% 2 Year Fixed 3.69% 3 Year Fixed 3.79% 4 Year Fixed 4.09% 5 Year Fixed 3.99% Investment Variable Rate > 750K 3.89% Variable Rate < 750K 3.99% 1 Year Fixed 3.99% 2 Year Fixed 3.95% 3 Year Fixed 3.99% 4 Year Fixed 4.29% 5 Year Fixed 4.29% ANZ $2,500 cash back for refinances over $250,000 Bank SA $2,000 cash back for refinances over $200,000 CBA $2,000 cash back for refinances over $250,000

01.01.2022 RBA leaves cash rate at 1.5%. The likelihood of an interest rate increase in 2018 is now diminishing with some forecasters expecting no movement at all. Moderate inflation and unemployment figures being the main reasons. https://www.brokernews.com.au//rba-decides-on-march-cash-r