Paradigm Lending Solutions in Perth, Western Australia | Mortgage brokers

Paradigm Lending Solutions

Locality: Perth, Western Australia

Phone: +61 8 9474 5008

Address: 12 Bowman Street South Perth 6151 Perth, WA, Australia

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25.01.2022 To renovate or to upgrade which is best? Most of us will live in two or three family homes during our lives. You might find that over this time needs change as does your capacity to meet those needs. So when the time comes for a move; is buying a new home a good idea, or is spending money on the existing home a better option? By renovating you save the hassle and stress of moving to another home and location, plus the considerable expense involved. Alternatively, buying a n...ew home could require tens of thousands of dollars just to cover stamp duty, agents commission, government charges, legal/bank fees and removal expenses. However, dont automatically think that renovation will necessarily increase the value of your property. Generally, renovations that increase the size of the home will add to its value, while cosmetic features may not. Features that can add real value include: Additional rooms bedrooms or office Adding a secure garage Re-modelling kitchens and bathrooms Landscaping to reduce maintenance. At the other extreme, swimming pools are noted for being poor investments. They take time and money to maintain, particularly with the increasing cost of water. Also, a prospective purchaser may not want a pool, so you could limit your buyer market. You should also consider your location. Home values tend to be based upon others in the district and even if you have extra features it may be more difficult to sell if the asking price is higher than others around you. Dont make the mistake of making your property the best house in the worst street. As always, doing good research is essential to making robust financial decisions. See more

22.01.2022 Making your home loan fit you When considering a home loan, the first and often only comparisons made by most borrowers are the interest rate and fees charged. Home loans come with so many options that it is worthwhile taking a look at the features of each loan to see which one suits your specific needs. Offset account the ability to save surplus funds within a separate bank account which can be used to offset the interest liability on your loansaving you interest over t...he long term. Additional repayments the ability to pay additional funds off your loan without penalty. This will help reduce your debt quicker and also save you more on interest. Split loan the ability to split your loan balance to have a portion on a fixed rate and a portion on a variable rate. You can have it both ways. Repayment holiday the ability to take a break from repayments or make reduced payments for a period of time to cover life events such as redundancy or maternity leave. Redraw facility the ability to make additional repayments on your loan with the option of withdrawing the funds again at a later time if required. Portable loan the ability to apply your loan to a replacement home if you sell and move. Top-up the ability to increase your borrowing limit without the need to apply for a new loan. Talk to us to make sure your home loan is tailored to your particular needs. You could significantly reduce your fees, interest and stress. See more

17.01.2022 How to own your home quicker One of the biggest financial commitments most of us will ever make is the mortgage on our home. So it is no surprise that the potential savings from adopting a smart mortgage strategy can also be remarkable. Take this example Steve and Nicole purchased a home for $500,000 and took out a mortgage of $350,000 repayable over 30 years. With an initial interest rate of 5.50% and monthly repayments, they found they would be paying $365,000 in interest ...over the period of the mortgage. In fact their first monthly payment of $1,988 would be applied to interest of $1,604 and only $383 to repayment of the capital. Whilst they realised they had no control over the basic loan of $350,000, Steve and Nicole certainly did have control over the interest they would be paying. In discussion with their finance broker they found: 1.Making fortnightly repayments of $994 (half the monthly payments) would save them almost $72,000 interest over the period of the loan, if all other factors remained the same. 2.Changing their repayments to weekly would only save approximately the same as fortnightly payments. 3.Increasing their monthly payments by just $12 would reduce the term of the loan by six months and save them around $6,900 in interest charges. 4.Renegotiating their loan with an interest rate 1% less (4.50%) would save them around $76,000. Let Paradigm Lending Solutions show you how to own your home quicker....... Source: Echoice Mortgage Calculator www.canstar.com.au See more

14.01.2022 Regulatory Oversight Changing the Australian Home Loan Market In recent weeks, Australian banks have started tightening investment lending to comply with expectations set by the Australian Prudential Regulation Authority (APRA). These expectations aim to ensure sustainable growth in the home loan investment sector, to protect both investors and the home loan market. APRA Chairman Wayne Byres said in a speech on May 13th that the current economic environment for housing lende...rs is characterised by heightened levels of risk. That is due to a combination of low interest rates, significant house price growth, high household debt, subdued income growth, rising unemployment and strong competitive pressures Over the past year Australias housing market concerns have been well-documented in both mainstream media and in industry press. The housing market environment and its conditions have continued to evolve and change, and banks, brokers and regulators are conscious of ensuring they are all doing the right thing for customers right now, and balancing the needs of all stakeholders in the industry. Many banks have recently made changes to Non-Residential polices to align with Regulator requirements to further improve home lending practices for customers, and more changes are to be expected. If you are considering an investment in property, then your first step should be to consult with Paradigm to ensure you are up to date with current lending policy and the impact in may have on your proposed investment.

09.01.2022 Fixed? Variable? Choose both! With so much uncertainty surrounding the Reserve Banks monthly decision on what to do with interest rates, it is timely to think about your loans and whether they are structured to suit your needs into the future. One of the most obvious considerations for your home loan is whether a fixed or variable rate loan is best for you. Fixed rate loans Fixed rate loans are generally offered for terms of between one and five years, with the interest rat...Continue reading

06.01.2022 Take control of your mortgage For most Australians the largest financial commitment ever undertaken is their home mortgage. The prime objective of most is to pay it off as soon as possible, particularly as the interest is not tax-deductible. There are so many options attached to mortgage deals that selecting the one for your personal circumstances is the first consideration. Will you benefit from extra features such as a redraw facility; mortgage offset account or a line of c...redit? Or should you go for a basic no-frills loan and make additional payments whenever you can? Key tips for making the right decisions and taking control of your mortgage include: Shop around for the best possible interest rate - this is the single largest cost. If you want special features, look for a low-interest loan that offers what you want. Paying a higher rate for a loan with features you do not fully use may end up costing more in the long run. Make extra payments whenever you can and consider weekly or fortnightly repayments instead of monthly. This is particularly important in the first few years of the loan when your payments are attributed more to the interest portion. Take into account fees and costs associated with a new loan: application fees, stamp duty, valuation and legal fees. If youre thinking of refinancing, consider the extra costs and make sure youll be better off. Ask if your current lender can match the best deal you have been offered or offer you a better loan than your current one. Steer clear of pushy sales people or loan minimisation experts who try to pressure you into switching loans, or use other aggressive sales tactics. Always work with a professional who has your best interests in mind. Selecting the right mortgage and payment method may make thousands of dollars difference to your wealth in future years, so carefully assess your needs and seek professional advice at the beginning. It will save you time and money.

02.01.2022 Paradigm sponsored Rossmoyne Year 5 boys had there first hit out for the season against Piara Waters, well played to all.