Nova Avakian in North Sydney | Property investment firm

Nova Avakian

Locality: North Sydney

Phone: +61 409 543 121

Address: 4/174-180 Pacific Highway 2060 North Sydney, NSW, Australia

Website: http://peasy.com.au

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• Financial service
• Loan service
• Mortgage brokers
• Property investment firm

19.01.2022 We are open for business! See the photo below for Peasy opening hours during the festive season...

19.01.2022 Awesome news for first home buyers! First home buyers of existing and new properties costing up to $650,000 will be exempt from paying stamp duty under reforms announced by Premier Gladys Berejiklian to improve housing affordability in NSW. Get in touch if you would like more information 0409 543 121 ... [email protected] See more

16.01.2022 Please share this post. *** Yesterday the CBA strongly proposed to the Royal Commission that all home loan borrowers be legally required to pay $2,300 to Mortga...ge Brokers every time they want a home loan. The bank won’t pay the broker as they do now, instead you will. *** Over the past 30 years, whether or not you have personally used a Mortgage Broker, by providing competition and promoting cheaper lenders, the Mortgage Broking industry has halved the profit margins of the Big 4 Banks, as this graph shows. The outcome of interest rates returning to the pre-broker levels will be about $8,000 per year on an average home loan. So if you have a mortgage your repayments will go up, if you are a tenant your rent will go up. The Big 4 regained some profits during the GFC when they were approved by Labor to buy the smaller lenders such as St George Bank, Aussie, Rams and BankWest but the popularity of brokers again pushed their profit margins (that you pay) back down. Currently around 53% of borrowers use a broker and around 65% of first home buyers do. No one has to use a broker, they choose to because it suits them. Every year more borrowers choose a broker over their bank. Yet the Royal Commission is being told by the CBA and Westpac that brokers are bad for borrowers. No, but we are just bad for bank profits. Why would more and more borrowers freely choose a broker if it wasn’t in their best interests? If this happens it will mean borrowers will be forced back to their bank manager and brokers won’t be viable anymore. Then the Big 4 will be able to restore their profit margins to what they had before brokers. That means higher interest rates for everyone. The only thing that keeps the banks even slightly honest is fair competition. They are trying to trick the Royal Commission into getting rid of that competition for them. If this happens, the outcome of the Royal Commission will be the complete opposite of what was meant to happen. More power and less competition for the Big 4 Banks and higher profits at all our expense. The banks have already raised interest rates and reduced people’s borrowing capacity, using the Royal Commission as their excuse. It is lower income families and first home buyers who will be most hurt by this. At this stage the Liberals have shown they understand this blatant attempt at profiteering by the banks and to twist the Royal Commission into their favour but Labor does not.

14.01.2022 Peasy Explains - You want to buy a home but what comes next?

09.01.2022 ***BREAKING NEWS*** The RBA has opted to leave the official cash rate on hold at 1.5%. As lenders continue with their out of cycle rate increases and with the growing probability that the government's bank levy will be passed onto customers, the Reserve Bank of Australia today decided to leave the official cash rate unchanged.... In continuing to adopt a wait and see approach the RBA took into account the latest set of mixed economic data. Unemployment has fallen from 5.9% to 5.7% and retail spending was up 1% in April but there are signs that the housing markets in Sydney and Melbourne are slowing and economic growth data due out tomorrow is expected to be lower. If you'd like to have a chat about what today's news means for you and your finances, please don't hesitate to get in touch. 0409 543 121 [email protected]

07.01.2022 Did you know more than 55% of Australians currently use a broker for their home and investment loans? That means more than half of Australians have access to ch...oice, keeping interest rates competitive for you, the consumer. Find out more at www.keepcompetitionalive.com.au #keepcompetitionalive

07.01.2022 **BREAKING NEWS** The RBA has decided to reduce the official cash rate to 1.25% as it tries to stimulate household spending and the economy. This is the first rate move since August 2016