Nicholas Wu Loan Market in Ferntree Gully, Victoria | Loan service

Nicholas Wu Loan Market

Locality: Ferntree Gully, Victoria

Phone: +61 430 382 899

Address: 5/1849 Ferntree Gully Road 3128 Ferntree Gully, VIC, Australia

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• Financial service
• Loan service
• Mortgage brokers
• Franchise broker

25.01.2022 It was a big week in the financial industry last week with the release of the interim report by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. While there’s been plenty of negative commentary in the media, I’d like to let you know where I stand. In other news, will your loan be switching from interest only to principal and interest? Dunno? Well, you’re not alone. And we look at the current challenges for house prices and see what the future holds. https://www.loanmarket.com.au//royal-commission-revelation

23.01.2022 RBA decided to leave the cash rate unchanged at 1.5%. https://rba.gov.au/media-releases/2018/mr-18-24.html

20.01.2022 My latest review on RateMyAgent: "Nick has been great in guiding me through the process of buying my first home. He spent a lot of his time educating me on the process, what to expect and answering any questions I had. He was flexible and able to organise zoom meetings around my work schedule often at short notice. He was also happy to include my parents in on the conversations and run his recommendations by them too. Thanks for your help so far Nick and looking forward to working with you into the future."

19.01.2022 The Melbourne suburbs where property prices fell most in 2018. Is it a good time to buy?

18.01.2022 Has the drop in house prices helped improve the affordability? Housing Affordability by State/Territory: *The December quarter saw housing affordability decline slightly on a national level. ... *Compared to the December quarter of 2017, housing affordability has improved with the proportion of income required to meet monthly loan repayments decreasing by 0.4 percentage points. *Over the quarter, housing affordability declined in most states and territories, improving only in Victoria and Northern Territory. The largest decline was in Tasmania with the proportion of income required to meet loan repayments increasing by 1.6 percentage points, to 26.3%. First Homebuyer Activity: *Over the quarter the number of first homebuyers increased by 3.8%, to 29,147. *First home buyers now make up 18.1% of the owner occupier market, and if refinancing is excluded, the figure sits at 26.8%. *During the December quarter, the number of first home buyers increased in all states and territories, except Queensland. *While the average loan size to first homebuyers decreased by 0.9% to $337,529 over the quarter, there has been an increase of 2.9% to the average first home buyer loan size over the past 12 months.

18.01.2022 Broker channel market share could reach 80%! Go mortgage brokers! https://www.brokernews.com.au//broker-channel-market-share

18.01.2022 SMSF property portfolios face rising costs (Source: Duncan Hughes - AFR) Investors with property in their self-managed superannuation funds (SMSFs) could be facing a new round of rate hikes after Westpac and CBA's decision to quit the sector. Interest rates on SMSF loans are already 50 per cent higher than other property loans. SMSF investors with a 30 per cent deposit pay about 200 basis points more for their non-recourse property loans, or a headline rate higher than 6 per ...cent, compared with less than 4 per cent for buyers outside a fund, analysis of lending rates by RateCity shows. Fewer competitors, rising funding costs and a recent round of standard variable rate rises means that capital costs are expected to continue rising, say advisers. "Before you start an SMSF, it is important to have an exit strategy to avoid costly conflicts in the future," says the Australian Securities and Investments Commission. "Getting into a scheme is relatively easy compared to getting out. It is important to plan an exit strategy to minimise the costs and risks," it adds. Give me a call on 0430 382 899 if you are interested to know what SMSF lending products are available.

18.01.2022 NAB keeps mortgage rates on hold! http://www.abc.net.au//nab-keeps-mortgage-rates-o/10221080

17.01.2022 Good to see that more and more people have started considering using brokers for their finance needs. https://www.theadviser.com.au//38689-broker-market-share-h

16.01.2022 My latest review on RateMyAgent: "Nicholas was so helpful with the entire process. As someone who has never bought a house before, he was patient with any questions I had, no matter how big or small. He also gave great advice. Highly recommend "

15.01.2022 6 tax tips for property investors 1. Keep documents of everything. 2. Set a realistic rental price. 3. The deal with ‘mates rates’.... 4. Know what you can claim on your holiday home. 5. Claiming interest on your loan. 6. Make the most of deductions. See more

14.01.2022 My latest review on RateMyAgent: "Nicholas was diligent and persistent in finding the right product for us. He and I have different work styles, which took some navigation but an excellent result and I have already reccommended him to some of my closest friends."

13.01.2022 Great news for Australian first home buyers! The federal government’s First Home Loan Deposit Scheme (FHLDS) is due to commence operations on 1 January 2020. The scheme aims to allow up to 10,000 FHBs per year to get into the property market sooner, requiring just a 5 per cent deposit, yet still giving them access to competitive interest rates and waiving the need for lender’s mortgage insurance (LMI).... As you can see, the spots are limited! Please contact me on 0430 382 899 to find out your eligibility and I will guide you through the process.

11.01.2022 The RBA has slashed the cash rate again. Let's chat about what it means to you!

10.01.2022 How to spot 'bargain' spots in a falling property market(Source: Financial Review) Below are some signs that a vendor might be ready to negotiate a discount: Property has been on the market for an extended period, typically more than 12 months. ... Postcodes where there has been a lot of apartment construction and sales to investors, particularly in the inner city. Many apartments are coming back on the market at reduced prices, particularly from overseas buyers. Price reductions. It might be the original sale price was too high for the current market. Forced or distressed sale. An increasing number of mortgagee sales are appearing online where the property is being sold by the lender. Situations involving divorce or deceased estates can also be more "price flexible" as lawyers or agents selling the properties are under pressure to achieve a result. Changing sales agents. Check online to see whether real estate agents have been replaced, or if the property is being put back on the market. Agents are willing to negotiate a sale before auction day. This is often a sign the seller might not be confident of competing bids. Market trends. Quality houses in coveted postcodes will continue to hold their value. Buyers should research why the property is being sold and then review the local market in terms of volume of supply and turnover.

06.01.2022 My latest review on RateMyAgent: "We’ve known and consulted Nic from the time we got our first home loan. He has always been very forthcoming, responsive and ever-ready to help. We enlisted his services when we refinanced which is never a smooth sailing process. Having Nic to navigate and sort through it made things that much easier. Highly recommend him."

06.01.2022 My latest review on RateMyAgent: "Nicholas was recommended by my mum to assist us with buying our first property. He has been very helpful, such a pleasure dealing with him. He has provided a lot of information and options for us to choose from. Really does take the stress out of dealing with everything all at once especially if you're a first home buyer like us!"

03.01.2022 My latest review on RateMyAgent: "Nicholas is thorough and detailed in the our application process. He exhibits professionalism and experience in guiding us to the best options for our needs. "

01.01.2022 Nick is down-to-earth, friendly and approachable and communicates fluently in both English and Mandarin. Based in Ferntree Gully and Box Hill (Melbourne), Nick is available to assist in a range of finance solutions including home, investment, self managed super fund (SMSF) and business lending. Call or message now to arrange a free, no obligation discussion about your current and future needs.