Pandanus Finance in Peregian Beach | Local service

Pandanus Finance

Locality: Peregian Beach

Phone: +61 7 5448 3880

Address: 10/10 Grebe Street 4573 Peregian Beach, QLD, Australia

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

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• Mortgage brokers

24.01.2022 Finally! Mortgage prisoners are about to be let free. APRA announced yesterday that it is removing the requirement that banks have to assess how much you can borrow based on the assumption the interest rate is at least 7%. When most people are actually paying close to 3% on their loans, having a 4% buffer on top of that seemed like a bit of overkill and resulted in huge numbers of people not being able to refinance their loans to better deals, even though they were ahead on t...heir loans and were saving extra every month. That's about to change and as soon as the banks announce how they plan on calculating borrowing power, we will see a huge increase in competition as those mortgage prisoners are let free. This is great news and we look forward to helping as many of those borrowers as possible break those shackles.

14.01.2022 $25,000 Home Builder Grant has been announced. Not all details have been released but I'll update this post as information comes out. So far we know: It's open to everyone, not just first home buyers... It's means tested so you have to earn less than $125k as an individual, or $200k for couples It's available for new houses worth up to $750k and renovations worth over $150k and no more than $750k You can access this grant as well as the $15,000 First Home Owner's Grant (FHOG), boosting your potential deposit by $40,000 Contract must be signed before the end of the year Construction must start within 3 months of signing the contract Funds will be available at the same time as the FHOG meaning it can be used as part of your contributuion to the build Income thresholds will be based on taxable income, so if your salary is over $125k or $200k combined and you have lots of deductions or salary saxcrifice, this could bring you under the threshold limit. It's not available for investment properties or owner-builders It's not available for anything not attached to the house such as pools, sheds or granny flats For the renovation grant, the value of the property cannot exceed $1.5 million Not available for contracts signed prior to June 4, 2020 Must be an arms-length contract, so the builder cannot be related to you Permanent Residents are not eligible

09.01.2022 My presentation covering the mind-numbingly stupid recommendation by the Royal Commission that would kill competition and cause all borrowers to pay $3,000 - $5,000 every time they apply for a loan.

01.01.2022 Some common sense may be returning to home loans. Hopefully this will make it easier for those mortgage hostages to refinance.