Our Broker Financial Services-Damien Zanin in Sydney, Australia | Financial service

Our Broker Financial Services-Damien Zanin

Locality: Sydney, Australia

Phone: +61 405 350 990

Address: PO Box 570 Haberfield NSW 2045 Sydney, NSW, Australia

Website: http://www.ourbroker.net.au

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23.01.2022 Are you eligible for Government grants? These vary from State to State, but a government grant is money you could be eligible for and can go towards the costs of buying your first home. E.g. First Home Owner's Grant (FHOG). If you're building your home, there may even be other building grants you can apply for. You can find information relevant to your State by contacting me on 0405 350 990 or via email [email protected]

21.01.2022 What are the different types of home loans? There are literally hundreds of home loans available, so when selecting the right mortgage, make sure you choose a product with a competitive interest rate and repayment options that match your needs. Popular home loan categories including variable, fixed rate, split loans and interest only.... A variable rate loan is a mortgage which utilises an interest rate that generally moves in line with the cash rate determined by the RBA. So, when interest rates fall, your mortgage repayments fall. However when interest rates rise, so do your repayments. A fixed interest rate loan protects you against interest rate changes for an agreed time. This delivers some peace of mind as your repayments won't change. However a fixed rate locks you in regardless of whether interest rates go up or down. Split loans are simply a part fixed and part variable rate mortgage. They are popular with homeowners who want to take an each way bet on interest rates. Interest only home loans are best used for your investment property. They offer greater control over your cash flow and can be a great asset to your investment strategy. You may find it can even provide tax and gearing benefits. For a FREE consultation please contact me on 0405 350 990 or [email protected]

20.01.2022 Banks have now deferred the repayment of one in fourteen mortgages: 429,676 in all, worth more than $150 billion, to help Australians through the COVID-19 pandemic. The total number of loans deferred is 703,419, worth $211 billion.

19.01.2022 Release of the Governments new $25,000.00 buliding grant.

16.01.2022 RBA leave cash rate on hold at .25% At its meeting today, the Board decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points. The global economy is experiencing a severe downturn as countries seek to contain the coronavirus. Many people have lost their jobs and there has been a sharp rise in unemployment. Over the past month, infection rates have declined in many countries a...Continue reading

15.01.2022 How can Our Broker can help? Our Broker can help you compare many mortgages from a range of lenders, whether you're applying for a first home loan, or simply seeking to switch lenders for a better deal. Also, if you're unsure about your borrowing power, Our Broker can help you choose a home loan you can realistically afford. If you have any questions about your financial situation, it's wise to seek advice from a professional mortgage broker such as Our Broker.... What does a lender look at when you apply for a loan? Typically, a lender wants to see the last two consecutive payslips, breakdown and evidence of Funds to Complete (3 months of bank statements showing salary credits and savings pattern), 100 points of identification, and if you've found a new home, a contract of sale with names matching your ID. However, what is important to keep in mind is that all your 'liabilities' requiring regular monthly payments also have a very big impact on the size of the mortgage you can secure. How do I know which Home Loan is right for me? There are literally hundreds of home loans available, so when selecting the right mortgage, make sure you choose a product with a competitive interest rate and repayment options that match your needs. Popular home loan categories including variable, fixed rate and split loans. A variable rate loan is a mortgage which utilises an interest rate that generally moves in line with the cash rate determined by the RBA. So, when interest rates fall, your mortgage repayments fall. However when interest rates rise, so do your repayments. A fixed interest rate loan protects you against interest rate changes for an agreed time. This delivers some peace of mind as your repayments won't change. However a fixed rate locks you in regardless of whether interest rates go up or down. Split loans are simply a part fixed and part variable rate mortgage. They are popular with homeowners who want to take an each way bet on interest rates. For a free consultation please call me on 0405 350 990 or email [email protected]

14.01.2022 Special New Year Offer !!!!!! 2 year fixed rate 1.89% Comparison Rate 2.94% Owner Occupied loan.... Please feel free to contact me on 0405 350 990 or email [email protected] See more

13.01.2022 RBA leaves cash rate at .25% At its meeting today, the Board decided to maintain the current policy settings, including the targets for the cash rate, the yield on 3-year Australian Government bonds, and the parameters for the expanded Term Funding Facility. The global economy is gradually recovering after a severe contraction due to the pandemic. However, the recovery is uneven and its continuation is dependent on containment of the virus. While infection rates have declined...Continue reading

13.01.2022 What is Stamp Duty? Stamp Duty is a government tax imposed on contracts, with the amount usually calculated as a percentage of the contract value. In layman's terms, it is the tax charged for your legal documents to be 'stamped'. It's crucial to factor your State's Stamp Duty into your budget when purchasing a property.... Based on your circumstances and where you live, you might be able to obtain a stamp duty exemption, or concessions (discount) against the purchase of your first home. Stamp duty laws get changed often, so be sure to check your State Government's website for the most up-to-date information. If you would like to discuss further please contact me on 0405 350 990 or email [email protected]

12.01.2022 New consumer credit reforms introduced to Parliament. Following new Consumer Credit Reforms being introduced into Parliament earlier today, 09 December, the Mortgage & Finance Association of Australia (MFAA) has reiterated its support for the way the changes are geared towards improving efficiency and prioritising consumer outcome in the finance sphere. The bills introduced today form part of the government’s larger-scale commitment to credit reform, including the relaxing of...Continue reading

09.01.2022 Government to axe responsible lending laws. The federal government has unveiled a plan to overhaul responsible lending laws by shifting from a ‘lender beware’ model to a ‘borrower responsibility’ model and stripping ASIC of its enforcement powers. Commonwealth Treasurer Josh Frydenberg has announced the government will move simplify the credit process, by scrapping responsible lending obligations from the National Consumer Credit Protection Act 2009 (NCCP), with the excepti...on of small amount credit contracts (SACCs) and consumer leases. The proposed reforms also involve a shit from a ‘lender beware’ model to a ‘borrower responsibility’ model, allowing lenders to rely on the information provided by borrowers. These changes, in effect, remove the Australian Securities and Investments Commission’s (ASIC) responsible lending remit, with the regulator no longer authorised to exercise its enforcement powers. However, the government has stressed that lenders would still be subject to regulation from the Australian prudential Regulation Authority (APRA), who will continue to issue guidance regarding sound credit assessment and approval criteria. Key elements of APRA’s guidance would also be applied to non-banks, currently bound by NCCP obligations enforced by ASIC. The government’s reforms also aim to protect consumers from the predatory practices of debt management firms by requiring them to hold an Australian Credit Licence (ACL) when they are paid to represent consumers in disputes with financial institutions.

09.01.2022 May I take this opportunity to wish everyone a Merry Christmas and a Happy New Year.

09.01.2022 RBA leaves cash rate at.10% At its meeting today, the Board decided to maintain the current policy settings, including the targets of 10 basis points for the cash rate and the yield on 3-year Australian Government bonds, as well as the parameters of the Term Funding Facility and the government bond purchase program. Globally, the news has been mixed recently. On the one hand, infection rates have risen sharply in Europe and the United States and the recoveries in these econom...Continue reading

07.01.2022 Spring Special Offer !!! 2 year fixed rate Owner Occupied loan 2.19%. Comparison rate 2.65%

05.01.2022 The Reserve Bank of Australia has held official interest rates at a record low 0.25 per cent ahead of new data set to confirm the nation's deepest economic downturn since the 1930s. Following its regular monthly meeting on Tuesday, RBA governor Philip Lowe confirmed official rates would remain where they have been since March. RBA governor Philip Lowe confirmed official rates would remain where they have been since March.... RBA governor Philip Lowe confirmed official rates would remain where they have been since March. The meeting was the bank's last before the June national accounts to be released on Wednesday, which are expected to show the economy contracting by at least 5 per cent through the quarter. Economists expect the figures to confirm Australia's first recession since 1990-91. While keeping rates steady, Dr Lowe revealed the bank would continue to offer cheap finance to banks under its term funding facility. In a sign the RBA expects the coronavirus pandemic to be a long-term drag on the economy, banks will be offered the equivalent of 2 per cent of their outstanding credit at an interest rate of just 0.25 per cent for the next three years. "Today's change brings the total amount available under this facility to around $200 billion," he said. "This will help keep interest rates low for borrowers and support the provision of credit by providing ADIs [authorised deposit-taking institutions] greater confidence about continued access to low-cost funding." Dr Lowe said the economy was going through a "very difficult period" but it was not as severe as originally feared. "This recovery is, however, likely to be both uneven and bumpy, with the coronavirus outbreak in Victoria having a major effect on the Victorian economy," he said. Dr Lowe said the economy was being supported by co-ordinated policy responses, including government spending, adding this would be needed for an extended period. Source SHM

02.01.2022 Should I use a mortgage broker? The answer is a categorical yes. With hundreds of lenders to select from, you may decide to get a mortgage broker to do the legwork for you. Brokers such as Our Broker can help you find a suitable loan and arrange special deals. Most Banks only offer the standard variable rate, and only offer discounts when wanting to increase market share. Remember it is not in the Bank’s interest to have their existing clients on lower rates. In a nutshell, ...a mortgage broker negotiates with banks, credit unions and building societies on your behalf to arrange a mortgage. Moreover, a mortgage broker can offer you a variety of loan options. They can help you select a loan and manage the process through to settlement. Going to an individual bank, you’re only going to get the rate they are offering that day. If you work with a broker, they are going to shop your mortgage business around on your behalf to find you the best rate. For example, if you’re on 3.0% for an Owner Occupied standard variable rate loan), (with an offset account) you’re probably paying about 0.40% more than you should be. This higher rate could be costing you tens of thousands of dollars over the term of the loan. A mortgage broker can hep you find these savings. For a FREE consultation please contact me on 0405 350 990 or email [email protected]

02.01.2022 NSW FIRST HOME BUYERS HAVE STAMP DUTY FEES AXED TEMPORARILY ! There’s some good news for those keen to break into the NSW property ladder, with an unpopular fee set to be temporarily pulled. NSW first home buyers finally having something to celebrate following the announcement that stamp duty would be paused for a limited time.... State Premier Gladys Berejiklian has revealed the dreaded tax would be temporarily axed for brand new homes priced under $800,000. The NSW government expects around 6000 first home buyers will benefit from the plan, which is designed to support the construction industry through the coronavirus crisis and create new jobs. It will kick in from Saturday, August 1 and will be in place for one year. Thousands of people will see their bank balances benefit from this change it will help get more keys into more front doors of more new homes, Ms Berejiklian told The Sydney Morning Herald. It will also boost housing construction across NSW and support jobs in the building industry at a time when we need them more than ever before. However, there is a catch the exemption will only apply to new homes and vacant land, meaning existing homes will not be eligible. But for those who do meet the criteria, they will also be able to double dip and take advantage of the state’s existing $10,000 first homeowner grant for new homes worth less than $600,000. Source: https://www.news.com.au///57e0ad8a38b9a490557d84c60fdc71ab

02.01.2022 RBA drops cash rate to a record low of .10% At its meeting today, the Board decided on a package of further measures to support job creation and the recovery of the Australian economy from the pandemic. With Australia facing a period of high unemployment, the Reserve Bank is committed to doing what it can to support the creation of jobs. Encouragingly, the recent economic data have been a bit better than expected and the near-term outlook is better than it was three months ag...Continue reading

01.01.2022 I received a lovely gift from one of my clients. It is nice to have thoughtful clients.