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My Next Loan

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23.01.2022 BREAKING: RBA cuts cash rate in emergency move The Reserve Bank has taken the extraordinary and drastic step of slashing Australia’s official interest rate to a new historic low in response to the coronavirus pandemic. https://www.news.com.au///99d935ac66d1efbeaa3f7b4220be2959

21.01.2022 INCREDIBLE HOME LOAN OFFER A fantastic low variable interest rate $0 application fees $0 ongoing fees $4,000 cash paid to you after settlement... Send us a message for a free, no obligation comparison to see how much you could save.

15.01.2022 Coronavirus SME Guarantee Scheme. During this very difficult health pandemic the global economy has changed and many small to medium size businesses have been severely impacted during this challenging time. The scheme, available by participating banks and lenders from early April until 30 September 2020 will support these businesses by providing quick working capital and the Government will guarantee 50% of these new unsecured loans provided to SMEs. This will improve lenders... ability and disposition to provide credit which will help SMEs have access to additional funding and support through this difficult period. Businesses in need of a cash flow injection to stay open can apply for loans of up to $250,000 with an initial 6 months repayment holiday to kick start the unsecured loan. Loan Term will be up to 3 years and your business turnover must be less than $50 million per annum. All banks and non-bank lenders with an existing SME business lending line will be eligible to participate in the Scheme. There are also no fees involved with submitting the application and no Broker Commission to be paid on these loans. If you need the support talk to your bank or lender to start the process. I am also happy to assist you with this if you are time poor or would just like some help. See more

06.01.2022 IMPORTANT ANNOUNCEMENT: An open letter to My Next Loan clients and the greater community By now it is likely you have heard from the media about the various fin...ancial assistance measures being made available by the Federal Government and Financial Institutions across Australia. This, much like the current pandemic situation is evolving daily. However, I realise that this information is general in nature and doesn’t consider your specific situation. The fact is, each Bank and Financial Institution has their own policy and procedure relating to obtaining financial hardship relief, however, I know that especially at times of worry and concern this can feel like a very daunting process to undertake on your own. So firstly, I would like to make one message very clear, you are not alone and we are here for you. I established My Next Loan on the basis of providing an unwavering commitment to support our clients with an ongoing personalised relationship and now more than ever we are here for you. Whilst we are unable to directly apply to your Bank for financial hardship assistance, we can and will support and stand by you through this process should you need it. The below is not an exhaustive list but are some specific examples of our commitment to you; Provide you with information, resources and guidance that is specific to your circumstances and that of your financial institution Assist you with completing forms and supplying supporting documents that may be required to apply for financial hardship Direct you and/or put you in touch with your relevant home or business loan financial hardship department Monitor your financial hardship application and utilise our contacts at your Bank to ensure that progress is being made to offer you help Last but not least, we will be a source of personal financial comfort and guidance when you and your family need it most These measures of support are made with the guarantee of no fee or charge AND I extend this to the entire community, regardless of whether you are a current client or not. Secondly, I would like to address a question I am currently being asked quite often, which is what impact are the social restrictions and economic uncertainties having on the finance industry? The longer-term economic and financial implications are yet to be known; however, I can provide insight on what some of the immediate ‘on the ground’ challenges are; Credit assessment times (the time it takes for a Bank or Lender to assess your application for finance) have typically increased due to the social distancing and ‘best practice’ workplace restrictions in place This is also impacting on most other areas of the credit process such as loan contract documentation and settlements and so delays should be expected We are seeing many financial institutions now prioritise their functions based on the impact to customers instead of the historical ‘next in line’ process. For example, finance applications that relate to property purchases are often taking precedence over say a refinance Earlier today the Prime Minister asked for all Australians to practice an increased level of tolerance and consideration of how prioritising and pressing one’s own issues can detrimentally impact on those of others. From a finance industry perspective, here are just a few of my practical recommendations; If you are in a position to, do not delay in applying for finance, the economy needs people and businesses to borrow and spend wisely. o For example, refinancing your home loan will almost certainly save you thousands of dollars AND very likely contribute towards keeping others in employment and stimulating the economy. If you are purchasing a property, consider requesting an extended finance clause timeframe and settlement date. If you are selling a property, consider accepting these extension requests from buyers and without imposing financial penalty. Let’s work together to find common ground. If you are a landlord with an investment loan, please consider passing-on some or all of the financial relief you may receive to your tenants. Chances are, they are doing it tough too. Continue to support local businesses and lets temporarily lower our high expectations of the service levels they can deliver at this time. We remain open for business and have many practical and efficient ‘non-face to face’ systems and processes in place in order to continue to assist you with your current and future finance requirements. Stay safe and speak soon. Warm regards, Matthew Beswick Managing Director