Peppercorn Mortgages in Camberwell, Victoria | Loan service

Peppercorn Mortgages

Locality: Camberwell, Victoria

Phone: +61 3 9889 9244

Address: 1221-1223 Toorak Road 3124 Camberwell, VIC, Australia

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

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24.01.2022 How to buy a home when youre self-employed. Self-employed borrowers come up against the challenge of not being able to simply present payslips and tax returns ...to back up their loan applications. But this need not stop you buying your dream home. Many lenders offer loans for self-employed borrowers who cant hand over payslips and employment records. This means that, rather than the usual documentation, you prove your ability to service a loan using bank statements, declarations from your accountant and financial records. Of course, as with any mortgage application, you must still prove that your income outstrips your spending and you can service the loan. Getting this right is more than presenting a lender with a few quick sums on the back of a napkin; it can take a solid six to 12 months of preparation. Here are some quick tips: reduce debt: pay down credit cards and personal loans, and be sure to lower the credit limits as they are paid down, as lenders assess the total credit available to you as a potential debt level, not just the amount you owe; cancel credit cards that you dont need (this will affect credit scoring); speak to a credit adviser about how the structure of your business and your taxable income will impact your ability to borrow; do your taxes when you should, and always pay your tax assessments on time; save: saving a deposit is obviously important, and showing your ability to live within your means while saving is too. This is key to serviceability you want to show at least a six-month history of high income and low expenses; and meet with an Accredited Mortgage Broker, rather than a bank. Mortgage Brokers have access to specialist lenders that assess applications on a case-by-case basis and tailor their products to self-employed borrowers and contractors, while bank lenders do not. Loans to the self-employed do differ from standard loans in a few ways, apart from the application process. Lenders offset the extra risk they are taking when lending to a self-employed borrower or contractor by charging slightly higher interest rates and placing some extra rules on loan-to-value ratios (LVR) and insurance requirements. Generally, you can expect an interest rate for such a loan to be one to two percentage points higher than for a full-documentation loan. Most lenders will also insist on an LVR of no more than 80 per cent meaning that under no circumstances will they lend more than 80 per cent of the property value, as assessed by the lender. But there are some lenders who will still accept an application subject to lenders mortgage insurer approval. Call us when you are ready to see whats available for you.

23.01.2022 Interesting reading and something that anyone looking to buy or sell should think about.

23.01.2022 RBA to keep cash rate the same.

21.01.2022 One day out from the RBA announcing a .25% rate cut and we already have the big 4, NAB, CBA Westpac and ANZ already announcing that they will pass on the full .25% rate cut to their variable rates. A lot of the smaller players have also followed suite, I would expect that most if not all the lenders will now do the same. Most of the cuts will take place between the 13th (NAB) to the 24th of March (CBA). It will be interesting to see what if any affect that will have on curren...t fixed rate offers, only time will tell. Regards Chris

17.01.2022 Are we set for a new housing record? By Cameron Micallef November 11 2019 Housing values might return to their historic highs in as little as six months, new analysis has forecast.... According to CoreLogics Home Value Index, while national dwelling values remain 5.7 per cent below their peak, it wont be long before they pick back up. CoreLogics head of research, Tim Lawless, believes Melbourne could be the first city to reach its previous market peak. If the current run rate of growth continues, Melbournes housing market will recover in January, Mr Lawless said. With house values having grown by 5 per cent over the last three months, Sydney is expected to also pick up from a lower trough in 2017. Sydneys housing market is on track to post a recovery within six months, or around April next year, if the current pace of growth continues, Mr Lawless stated. Most of Australias capital cities have recorded a rise in dwelling values over the past three months, with only Perth and Darwin being the exception where values have been trending lower for the past five years. The same cant be said of Hobart and Canberra, which are the two capitals where housing values are already at new record highs. Hobart values recorded only a mild correction of 1.3 per cent from peak to trough, with the market reaching a new record high in October 2019. Similarly, Canberra housing values recorded a peak to trough decline of only 1.5 per cent during the downturn, and moved through a new record high in September this year.

17.01.2022 Just announced, The RBA has dropped the cash rate by .25% to a new record low of .75%. Expect to see the Banks reactions over the next 2 weeks. A copy of the media release is below. Media Release Statement by Philip Lowe, Governor: Monetary Policy Decision...Continue reading

17.01.2022 The Big 4 move.... In a quick turnaround the big 4 banks have already announced that they will be passing on the latest rate cut with NAB and CBA both passing on .19%, Westpac .2% and ANZ .25% of the latest rate cut. In order to make a proper assessment, you need to also take into account what they did last month, ANZ only passed on .19% Westpac .2% and CBA and NAB both passed on .25%. So in total Westpac have passed on .4% ANZ, CBA and NAB have all passed on .44%. So all much of a muchness to tell the truth. The interesting thing to watch is what the other lenders will do. With some of them already .15-.2% cheaper to begin they could take the plunge and further undercut the majors, only time will tell.

16.01.2022 RBA HAS CUT THE CASH RATE After 3 years the RBA has decided to drop the cash rate by .25% from 1.5% to 1.25%. The reasons behind the drop are fairly numerous but at the end of the day they are looking to make sure the economy remains "stimulated" and they were worried about it slowing down. Now the million dollar question is not if the banks will drop rates (thats pretty much guaranteed) but by how much and when. We should start hearing about their decisions over the next fe...w days. Happy Trails Chris

14.01.2022 Ten renovation ideas that can increase your homes value Taking care of basic maintenance tasks before you sell your home is a no-brainer, but a quick and not-too-costly renovation can add a lot of appeal for potential buyers, and may boost the final sale price. 1.Basics first... Fix those little faults that you no longer notice leaky taps, rusty gutters, broken window catches. They can make a huge difference to a buyers perception of value. 2.Landscape the garden A well-kept garden can create a low-maintenance feel before buyers even step inside. 3.Bring the outside in Opening living areas to the garden can be as simple as adding big bi-fold doors that create an inviting sense of flexibility. 4.Take the inside out The garden is a place to live: a barbecue area, deck, pergola or even a plunge pool all invite buyers to imagine their future lifestyle in your home. 5.Let the light in Brightening dark areas boosts a homes appeal; you can install skylights quite economically, and swap solid doors in dark areas for glass-panelled ones. 6.Put some colour on it Fresh paint makes a home look ready to live in. Think carefully about colours, and maybe seek some interior design advice although neutral colours present some people with a blank canvas, to others those spaces just seem bland. 7.A solid footing New carpets make a home feel new. Again, think carefully about colour. A step further? Look under the carpet those timber floors will be lovely when sanded and sealed. 8.Green it Installing solar panels or a solar hot water system can add value for potential buyers, who will see future energy cost savings. 9.Bathroom fix A brand-new bathroom can cost a lot. Instead, think of replacing shower curtains with clear glass screens and installing new taps, a water-saving cistern and even a new toilet seat. Replace small tiles with big ones, and dont forget to clean/renew the grout. 10.Add storage Buyers are looking for places to store their stuff cupboards in the garage and in neutral spaces such as hallways are always welcome. A butlers pantry in the kitchen is great, too. Some simple and affordable renovation moves can make your home more desirable to buyers, potentially adding to the final sale price. Advantedge Financial Services Holdings Pty Ltd ABN 57 095 300 502. This article provides general information only and may not reflect the publishers opinion. None of the authors, the publisher or their employees are liable for any inaccuracies, errors or omissions in the publication or any change to information in the publication. This publication or any part of it may be reproduced only with the publishers prior permission. It was prepared without taking into account your objectives, financial situation or needs. Please consult your financial adviser, broker or accountant before acting on information in this publication

13.01.2022 Cash rate decision announced By Hannah Dowling 04 February 2020 The Reserve Bank of Australia has announced its first rate decision for the year 2020....Continue reading

11.01.2022 Reserve Bank slashes cash rate to lowest in Australian history The Reserve Bank of Australia (RBA) has cut the official cash rate again on Tuesday as economic indicators like the unemployment level and wage growth still look weak. The 25 basispoint cut, takes the interest rate from 1.25% to a new historical low of 1%, marking the first time since 2012 that the RBA has cut in two consecutive months.... The majority economic view is that it will be followed by another cut later in the year to 0.75%, potentially creating a modest boost in house prices as major markets appear to be bottoming. All eyes will now turn to the banks and see if they will pass on the full rate cut or just a percentage. I expect most will take a few days to a week to decide and they will more than likely only pass on part of the cut, but only time will tell.... .

11.01.2022 Banks Move on RBA announcement IT has begun, The Big 4 have announced the following:-... -CBA and NAB announced that they will reduce their variable rates loans by .25% matching the RBA rate cut. -ANZ decided that they will pass on .18% -and Westpac will pass on .20% most of the other lenders soon be responding with ING and Macquarie already confirming they will pass on the full .25% rate reduction. Most of these reductions will take place around the end of June so if you are wanting to know what your options are, best to wait until the end of June and then see how the dust has settled. Chris

10.01.2022 Statement by Philip Lowe, Governor: Monetary Policy Decision Number2020-06 Date3 March 2020 At its meeting today, the Board decided to lower the cash rate by 25 basis points to 0.50 per cent. The Board took this decision to support the economy as it responds to the global coronavirus outbreak....Continue reading

10.01.2022 This should provide a boost for property under $1mill

10.01.2022 Latest Rate Cut By RBA

09.01.2022 Welcome Back to the Peppercorn Mortgages Page! As we are nearing the completion of the rebrand back to our original name, please ensure that you only use my current email address, as all others have been closed down. Please add [email protected] to your address book for future email correspondence.

07.01.2022 RBA announces cash rate Charbel Kadib 14:25 PM, 6 Aug 2019 The Reserve Bank has unveiled its cash rate for the month of August following its monetary policy board meeting....Continue reading

07.01.2022 Another rate cut on the cards for February by Joseph Barclay | 13 Jan 2020 Many people rejoiced when the Reserve Bank of Australia (RBA) cut interest rates last year, which saw a reduction in interest payments for borrowers in an attempt to stimulate the nations economy. Such a reduction is going to put a number of households experiencing mortgage stress at ease and is sure to provide an abundance of immediate and short-term benefits for Australias housing market.... The steady interest rate cuts of 1.5% to 0.75% since June 2019 have many people wondering if they will see them fall even further in 2020, and raises pertinent questions as to whether that will be a good thing for Australias property market in the long run. Whilst lower interest rates provides greater confidence for those who have a mortgage and those looking to enter the property market, theres a danger that the housing market can be sent into overdrive and a litany of unintended consequences could occur as a result. An example of the problems that could arise because of further cuts includes a potential boost in asset prices without the desired stimulation of the economy to combat such hikes. The talk of further cuts by Australias central bank in 2020 has gathered steam in recent weeks, with the bushfire crisis and Wednesdays news of the Iranian missile strike on a base hosting United State troops in Iraq having significantly increased the inferred probability among economists that the RBA will cut the rates by 25 basis points in February. And while a second interest rate cut this year is doubtful, the enormous damage seen in Australias worst bushfire season on record in particular threatens to negatively impact the economy for a lengthy period of time; which has the potential to add further pressure on the RBA to reduce rates once again. Moodys Analytics economist Katrina Ell said the bill incurred from this summers fires could exceed that of the Black Saturday fires to the tune of $4.4 billion. The risk of adverse spillovers to the broader economy is high, given the scale of the fires as well as it being still early in the bushfire season, she said. In those fires (Black Saturday), 450,000 hectares of land were destroyed. For comparison, 6.3 million hectares of land have been burnt in the current blazes. As it relates to the likelihood that the central bank would cut interest rates as a result of the natural weather event, Ms Ell said they have only been amplified because of the fires. Odds were already high that the RBA would cut interest rates at its next meeting, she said. The fires increase those odds. See more

07.01.2022 Property values to rise in 2020 as cash rate stalls by Abel Riototar | 07 Aug 2019 With property values in Sydney and Melbourne rising for the second time in many months, experts are anticipating the property market is heading up over the next year but is this just a dead-cat bounce?... Experts and economists forecast property prices across the nation are set to rise by August 2020, according to a survey on the RBA cash rate. The cash rate was announced yesterday (6 August) to remain on hold at 1%. A falling cat In a statement, Finder insights manager Graham Cooke said its too early to tell if the prediction is an emerging recovery in the housing market. In finance, the saying is that even a dead cat will bounce if it drops from great heights, he said. Most economists surveyed foresee small levels of growth across the board, but a few tipped prices to tumble, especially in Sydney and Melbourne where one expert predicted a 7% drop. Whether you see this as a falling feline or the beginning of a true rebound, its clear that the full effects of the RBAs recent cuts have yet to play out. However, Cooke added, after Sydney had a 71% weekend clearance rate, one of the strongest in recent months, theres definitely a detectable pulse. In terms of predicted average growth among capital cities, Canberra emerges on top with 2.27%, followed by Hobart with 2.19% and Brisbane with 1.81%. Cooke advised those looking to get on the property ladder to get their ducks in a row. Prospective first-time buyers should look at arranging pre-approval for finance soon if they want to take advantage of low rates before prices increase, he said. The cash rate is at a historic low with the RBA holding it down at 1.00% for the first time in three months and will likely get two more cuts by years end. Out of all the experts surveyed, 96% predicted the hold. Rates remain low ANZ, Commonwealth Bank and Westpac recently slashed their fixed-rate home loans by about 96 basis points, almost double the size of RBAs two latest cash rate cuts.

06.01.2022 HI Everyone, I hope I find you and your family safe and well. During these unprecedented times, I want to let you know that I am here to help, and I am committed to servicing your financial needs as usual to deliver the best outcomes for you. As the COVID-19 (coronavirus) situation evolves, we are ensuring the safety, health and welfare of our team, our clients and others with whom we interact, by following official Australian Government advice. With the vast array of infor...mation available about COVID-19, I encourage you to view the Australian Government Health Department website for the latest and most accurate information. Is this the time to review your finances? Many of us are working from home and spending more of our free time at home too, take advantage of this time to sit down and examine your finances. What are your goals? Are you on track to reach them? What do these economic changes mean for you? Some people will be looking into financial uncertainty. I am available to assist you in managing this. I want to ensure you understand your redraw facilities, offset accounts, your rights in regard to mortgage 'repayment holidays', applying for financial hardship with your bank, and how you might take advantage of the RBA rate cut. Reach out and call me this week. Appointments can be done digitally I understand many people in the community are self-isolating, quarantined or practising social distancing. I’d like to reassure you that you do not need to leave your home to seek advice or even apply for finance. Please reach out to me and we can find a solution that works for you, whether that be via a video or phone call. My business has technology platforms to enable us to do business efficiently without the need for face to face interaction. I can help you navigate lenders fast-moving policy changes Banks and lenders are quickly making changes to their requirements to adapt to these unique times we find ourselves in. I am in regular communication with banks and lenders so that I can be across these changes and help you navigate them. I’m online and available. Keep Safe

05.01.2022 Looks like we will have cheap rates for at least another 3 years

05.01.2022 RBA cuts rate. The Reserve Bank of Australia has announced that they will be cutting the cash rate by .25% to .5% a new record low for Australia. Citing the bushfires and the uncertainty caused by coronavirus the board has moved to support the economy and will looking to monitor the situation to determine if further easing of monetary policy will be required in the future. The banks will now be mulling over what to do and you can expect them to start responding with how much of the cut they will be passing on over the next few days.

04.01.2022 Why brokers hold the keys to getting your foot in the property door! Getting a foot in the door of your dream home might be getting harder, but talking to a mortgage broker could get you the keys more quickly. Purchasing a property in todays housing market is not for the faint-hearted. Would-be homebuyers have only to turn on their TV or check Facebook or Twitter for the latest news informing them that their dream home is slipping further out of reach. When you add in t...Continue reading

04.01.2022 Its begun, NSW may well be the 1st to scrap up front Stamp Duty costs but bring in an annual property tax. Which will make the initial purchase cheaper as well for those that buy and sell properties (developers, investors etc) on a regular basis. Those that are looking to buy and hold forever may end up worse off. (interesting to see if there will be concessions for those who retire).

03.01.2022 Negative gearing changes likely to impact economy at largeHomeNews by Madison Utley25 Mar 2019 Labors negative gearing policy is likely to hit mum and dad investors, home owners, renters and the wider economy, according to a new report released by the Real Estate Institute of Australia (REIA). ... While REIA welcomes the SQM Labor research report as a "valuable component of carrying on an informed debate", it has also highlighted several causes for concern. REIA president Adrian Kelly explained, The analysis in the report provides evidence of the impacts of the policy, identifies the losers and the extent of their losses. The losers are mum and dad investors, home owners, renters, the construction industry, state governments and the economy. Kelly said that rent is expected to increase between eight and 15% across the capital cities from 2020 to 2022. Predicted exceptions are Brisbane, which could face up to a 22% increase, and Darwin, which may remain relatively unscathed with an increase of around 4%. This is in contrast to the current situation where we have the lowest annual increase in rents for two decades, explained Kelly. The SQM research also forecasted a fall in housing construction activity in what will amount to a 25 to 30% decline from 2019 levels, which would have significant ramifications for employment and GDP. According to Kelly, the property sales turnover falling by the predicted 12 to 15% will result in a drop in state stamp duty revenue of approximately $2.3bn money which could be spent on schools, hospitals and roads, he pointed out. There are no winners. Even first home buyers will face a faltering economy with lower employment prospects, the REIA president concluded.