Phillip Martin | Mortgage brokers

Phillip Martin

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20.01.2022 FAMILY GUARANTEE Buy your first home sooner with a Family Guarantee We know it can feel like saving for a home deposit takes ages, so were here to help speed things up.... With the Family Guarantee option, mum, dad or another family member could help you buy your first home quicker. In fact, you could borrow up to 100% of your propertys purchase price. What is a Family Guarantee? Its a helping hand from a family member (the home loan guarantor) who provides additional security to the bank for the home loan. The home you buy will be the main security for the loan, however the home loan guarantor agrees to use the equity in their own property to also be used as security. This means Bankwest will also take security on the guarantors property. Keep in mind you as the borrower(s) must be able to repay the home loan without support from the guarantor. The Family Guarantee option is only available if you will live in the property. Who can be home loan guarantor? An immediate relative of the borrower(s) e.g. parent, adult child, sibling, grandparent, spouse, de facto. You can find out more about what is means to be a guarantor on the ASICs Money Smart website. Benefits of using a Family Guarantee option Spend less time and effort saving for a deposit Avoid costly Lenders Mortgage Insurance (LMI). Normally when you borrow more than 80% of your propertys value, you need to pay LMI. You dont have to with our Family Guarantee as it lets your family member use equity in their property as additional security for your loan.

18.01.2022 Great value in Yeronga! Current Median price in Yeronga is $860,500 https://www.realestate.com.au/property-house-qld-yeronga-12

18.01.2022 Can HECS Hurt Your Borrowing Capacity? The High Education Contribution Scheme (HECS) or Higher Education Loan Program (HELP) is effectively a Government loan that enables people to afford the costs of higher education....Continue reading

16.01.2022 Check out the Case Studies regarding the HomeBuilder providing eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. Feel free to send us a pm if you'd like to discuss further regarding home loan finance. We can do a quick pre-qualification and help assist you.

14.01.2022 Always be looking always be saving

12.01.2022 NAB Predicts that House Prices will Rise by 7.9% in 2021 NAB predicts that 2021 is going to be an incredibly strong year for house prices, with all capital cities expected to see sharp gains.... According to NAB Economics, house prices will rise by 7.9% in 2021, while 2022 should see those gains continue, with prices rising by 6.0%. Brisbane could be the strongest market in the country this year, with NAB expecting gains of 10.1%.

11.01.2022 https://www.brokernews.com.au//brokers-best-placed-to-expl

10.01.2022 QBE Australian Housing Outlook 2018-2021 Download the report here https://www.qbe.com/lmi/housingoutlook

09.01.2022 https://www.theadviser.com.au//37795-major-bank-offering-b

08.01.2022 Five Questions to Ask Before Putting in an Offer on a Home We all want to get a bargain when we buy a property, however, the reality is that you need to meet the vendor halfway in most cases. Knowing how much you should offer and exactly where you need to meet the vendor when it comes to price comes down to asking a few key questions.... What’s the basis for the asking price? Just because a house is listed at a certain price by the sales agent doesn’t mean the price is a realistic one. The key to understanding whether a price is fair and reasonable is to do your market research beforehand. These days it’s easy to access sales data on the real estate portals and you can quickly and easily see what other comparable properties have been selling for in the same area. Try and find a house of similar age, land component and condition that has sold in the last three to six months, and present those to the agent when making an offer. Are there multiple offers? If you’re the only one putting an offer in on a property, then there is a fair chance you’ll be able to negotiate a lower price. If there are multiple parties interested then the odds of you getting a bargain are slim. At the end of the day, buying and selling is about supply and demand and if you need to compete for a property, then you likely won’t be able to put in a low ball offer successfully. How long has the property been listed? If a property has been sitting on realeaste.com.au for six months with no interest then there is a fair chance the property is overpriced. At that point, the vendor might be willing to accept something less then they had previously hoped for and meet the market’s expectation. If they aren’t then it’s likely that they are simply asking too much and are not prepared to budge. What’s the vendor’s motivation? How eager is the vendor to get a deal done? If they need to sell the property quickly for family or financial reasons, then you might be able to put in a lower offer with good terms. If the vendor has a set price in mind and no reason to sell, then there is not much chance of getting a low offer through. Has the asking price changed? If the asking price is slowly dropping each week or month, then it’s fair to say that the property was initially priced too high, either by the agent or the vendor. This also shows the vendor does want to sell and that they are prepared to be flexible on what they accept. In this case, a low offer might be something that the vendor is prepared to consider.

07.01.2022 FOR SALE! Beautiful family home in Fitzgibbon https://www.realestate.com.au/property-house-qld-fitzgibbon

06.01.2022 FOR RENT! https://www.realestate.com.au/property-house-qld-rochedale+

04.01.2022 How to Fix Your Credit When the time comes to apply for a home loan, banks and lenders are going to look very closely at how you have managed credit in the past.... The easiest and most obvious way for them to do this is to look at your credit score, which is a track record of how well you’ve handled it previously. If you’ve been known to miss payments here and there, or worse, then there is some chance your credit score has been hurt. The good news is there are a few things you can do to improve your credit score and get things back on track, so you have the best chance of being approved for finance in the future. Know the Score You can’t start to improve your credit score without knowing what it actually is. The good news is that finding out your credit score is easy, and it doesn’t cost anything. Get in touch with one of the major credit reporting agencies and ask for a report. It’s normally possible to get one free report on your credit score each year, which should be more than enough. Fix the Errors Sometimes your credit score can be low for reasons that are not your fault. If any errors have been made, it’s important to identify them and get them fixed. For example, if you’ve paid a debt or bill in full, and it is not reflected correctly on your credit record, it will lower your credit score. Contact the credit agency and have them investigate the matter. Money Owing A lender is able to report any money that is overdue by 60 days as a default, if it amounts to more than $150. This can reflect on your credit report for five years. If there are any late payments that are not accurate, follow it up with both the reporting agency and the creditor. Pay Bills on Time One of the quickest and easiest ways to improve your credit score is to simply pay your bills on time. These days, the reporting agencies can see exactly when you paid your bills, and they will take this information into account. If you can pay your bills early, that is even better. A good rule of thumb is to pay your bills the moment they arrive. This can really help. If you wait until the last day to pay a bill, by the time it is processed, it is likely to be late already. Use Credit Sparingly If you continually apply for credit or loans of any kind, these will not only show up on your credit file, but will also lower your credit score. If you have applied for credit and have been rejected regularly, this will make it very difficult to get finance in the future, as lenders can see what has been happening.

03.01.2022 Common Mistakes that Stop You Getting a Loan When the time comes to apply for a home loan, many would-be borrowers are shocked to learn that a few simple mistakes have cost them the chance to get finance. Lenders have several checks they run on all applications and if you’ve made these errors you might be out of luck....Continue reading

03.01.2022 Book in an appointment to discuss your Home Loan options today :) https://www.theadviser.com.au//home-buyers-increasingly-fl

03.01.2022 Will freezing mortgage and credit card payments damage your credit score?

01.01.2022 Some FAQs accessing HomeBuilder grant of $25,000. Please don't hesitate to send us a pm and a mortgage broker from our team will be in contact to assist you in any way we can. No obligation meeting can also be arranged