Alan Lavocah in The Rocks, Sydney | Financial service

Alan Lavocah

Locality: The Rocks, Sydney

Phone: +61 431 915 025

Add/Update information

Reviews

Tags

• Financial service
• Mortgage brokers
• Investing service
• Financial planner

25.01.2022 Selling via private treaty Weve put together some pros and cons to help you decide whether selling via private treaty is for you. #vantageloans

25.01.2022 HAVE A HISTORY As mundane as it sounds, the only way to save is to spend less than you earn. And its a habit lenders expect you to master before you take on a mortgage. Most lenders require entry borrowers to demonstrate a history of genuine savings before approving a loan. Lender policies vary but they all require evidence you have been socking away savings for a certain period, especially if your deposit is less than 20 per cent. Cash injections from parents and other so...urces generally dont fit the bill as they dont show you can manage your budget to make your mortgage payments. The only way to show you can save is to save! #vantageloans

23.01.2022 Lenders Mortgage Insurance (LMI) Ask your broker to run the maths on LMI if your deposit falls short of 20 per cent. If the market is moving up, it might make financial sense to pay the LMI rather than strive for a bigger deposit and risk being outpaced by increasing property prices. LMI premiums vary so talk to your broker to find the right loan for your circumstances. One other thing to consider to potentially help avoid LMI (or at least save on it) is that several lenders ...accept a family member as guarantor, using the equity in their home to help secure the finance. Again, speak to your broker to find out if this is something that may suit your situation. #vantageloans

22.01.2022 Top tips to bump up your borrowing power: Reduce your credit card limits. Its not just credit card debt that is considered when lenders work out how much you can borrow. Its also how much you could rack up. One of the simplest ways to increase your borrowing capacity is to reduce your credit card limits. Cancel cards with zero balance or look at consolidating multiple card debts into one with a lower limit. It still helps to have as little debt as possible, so pay down high...-interest credit card debt as quickly as possible. #vantageloans

21.01.2022 Take stock You wont know where you can save if you dont know what youre spending. While it can be confronting, the first step to better budgeting is to find out where all your money goes. Start by reviewing your past three months income and expenses. Categorise your costs into fixed essentials (mortgage, rent, insurances, phone), variable essentials (groceries, petrol, haircuts), unplanned essentials (new brakes, dental surgery) and nice-to-haves (Netflix, fashion, holida...ys). You can use a traditional spreadsheet or a free budgeting app, such as Track My Spend, designed by ASIC. Dont fret if you find you dont have enough income to cover your expenses. Better to discover this now than to keep heading in the wrong direction. If youre spending more than you earn, or not saving enough, its time to make some changes. #vantageloans

20.01.2022 I am proud to announce my property investment eBook I invest in property - Australia is now available on Amazon! If you are wanting a guide to property investment and to know the principles used to build a substantial property portfolio be sure to grab a copy. https://www.amazon.com.au//ref=cm_sw_r_sms_awdb_c_EQNxCbY4 The below topics are covered:... Asset selection Methods to financial gain when investing in property What to consider when undertaking a buy, renovate/develop and sell project. Finance Sophisticated investor + more! #iinvestinpropertyaustralia #investor4life #lifechoices

20.01.2022 Look for features to help you save. In order to pay more off your loan, its a good idea to reduce your living costs in other areas. Many loans and lenders have other products that will help you do just that. If you have a loan with a lender, you can often get discounts on life insurance, car insurance, home and contents insurance, and more. Alternatively, another way to save is to choose a loan with less features. These no-frills loans often sacrifice features for lower rates. If you dont need the added extras this could suit you. #vantageloans

20.01.2022 Expert advice With tax rules changing year on year, its important you speak with your accountant or financial adviser to find out what you can and cant claim in your situation. #vantageloans

20.01.2022 Auction v.s private treaty. Its a perennial question when it comes to real estate: should you sell at auction or via private treaty? Some sellers prefer the predictability of setting a price, while others are prepared to let their property go to the highest bidder. There is no right or wrong and each vendors situation is unique.... Remember, you have me as your broker onside to ensure you get the right property finance deal, likewise making sure you have the right real estate agent on board is key, particularly when making decisions like this. #vantageloans

20.01.2022 It's our job to find the right property loan for you. We do that by helping you navigate the choices and changes in the market. Then we go in to bat for you and can even negotiate on your behalf. Once we've found a loan we like the look of, we'll help manage the whole process for you. #vantageloans

19.01.2022 The first step to purchasing a property is to know how much you can borrow. Your borrowing capacity coupled with your savings will dictate what you can buy and where! Contact us for more information. #vantageloans #property #mortgage

17.01.2022 If you are wanting a guide to property investment and to know the principles used to build a substantial property portfolio, be sure to grab a copy of my eBook I invest in property - Australia today! #iinvestinpropertyaustralia

15.01.2022 Twenty per cent down. A 20 per cent deposit is a hefty chunk of change for first-time buyers, especially for those in Sydney or Melbourne. The rub is if you dont put 20 per cent down, you will have to pay Lenders Mortgage Insurance (LMI), which can cost thousands. LMI applies when the mortgage is higher than 80 per cent of the lenders property valuation. It covers your lender if you default on your mortgage. LMI does not cover you, the borrower, if you cant make repayments.... Two factors influence the cost of LMI: the size of the loan and the loan to property value ratio. The bigger your deposit, the smaller your LMI bill. #vantageloans

12.01.2022 Review and refinance. Things change. Rates go up and down, you may get a different job or have another child, and new loan products are constantly introduced to the market. So its always a good idea to take stock of your loan and see if you can get something more suited to your current needs and goals. Maybe its a lower interest rate, or some extra features. You may even be thinking about splitting your loan. Whatever the reason, sometimes switching lenders or refinancing is a good strategy. Contact Vantage Loans for a FREE home loan health check. #vantageloans

12.01.2022 Australian income-earners are entitled to minimise their tax so find out what you are allowed to deduct in your line of work and keep a record of all relevant receipts, even if its just in an envelope or folder. If unsure of what you can claim, visit ato.gov.au or talk to your accountant. #vantageloans

11.01.2022 Most mortgages are spread out over 25 to 30 years, but it doesnt have to be that way. With a few simple strategies you can take years and thousands off your loan, and its much easier than you might think. Everyone would love to have no home loan, but a mortgage is part of life for the majority of us. Obviously, the faster you pay it off, the sooner youll be free to use your money to get a bit more out of life. The basic tip is to attack your principal. By paying more off m...ore of what you have to, youre reducing your debt faster, while at the same time reducing the interest thats charged. The money you save on interest can be used to make further payments on the principal. Sounds simple, right? Well its a lot easier said than done. Here is one tip: Consider a 100% off-set account or facility. These day-to-day transaction accounts are linked to your home loan, and any balance is considered as a reduction in your loan, which reduces your interest. Even if its only there for a short time, it makes a difference. By having your salary or wages paid into this account, youll get a regular knock down in the amount you owe. #vantageloans

11.01.2022 Remember if you borrow more, you need to repay more. Lenders will use their own formulas to determine if you can make the loan repayments based on the information you provide at the time. If your spending increases or circumstances change, you will still be required to make your loan repayments. #vantageloans

11.01.2022 FREE property investment eBook PROMOTION As a SPECIAL PROMOTION my property investment eBook I invest in property - Australia is now available on Amazon FREE for a LIMITED TIME! In the eBook I touch on a variety of topics including:... Asset selection Methods to financial gain when investing in property What to consider when undertaking a buy, renovate/develop and sell project. Finance Sophisticated investor + more! If you are wanting a guide to property investment and to know the principles used to build a substantial property portfolio be sure to grab your FREE copy today and please leave an Amazon review if you valued the content! To read this eBook on your device download the free app from Amazon. https://www.amazon.com.au//ref=cm_sw_r_sms_awdb_c_EQNxCbY4 #iinvestinpropertyaustralia #investor4life #lifechoices

10.01.2022 Whether it's for your first home, refinancing your current place or an investment, we have access to loans from a host of Australia's leading lenders, one of which could be the right one for you. Finding one that's right for you is the hard part, and that's where we come in. We'll consider a range of options to help you get the solution you're looking for. #vantageloans

10.01.2022 Purchasing a new home or investment property? Vantage Loans can help! #vantageloans #property #mortgage

10.01.2022 Look for features to help you save. In order to pay more off your loan, it’s a good idea to reduce your living costs in other areas. Many loans and lenders have other products that will help you do just that. If you have a loan with a lender, you can often get discounts on life insurance, car insurance, home and contents insurance, and more. Alternatively, another way to save is to choose a loan with less features. These ‘no-frills’ loans often sacrifice features for lower rates. If you don’t need the added extras this could suit you. #vantageloans

09.01.2022 MAKING THE MOST OF AN OFFSET ACCOUNT Offset accounts work best for savvy savers those who have several thousand dollars in savings to start, consistently live within their means and can make regular deposits. Have your wages deposited directly into your offset account to maximise your savings potential.... Give your offset savings a boost with any employment bonuses or tax returns. If you land a pay rise, try to save the extra funds each month to really get ahead. Make sure you take out a 100 per cent offset account, where the interest rate on your savings matches the interest rate paid on your loan. If opting for a partial offset, do your maths to make sure it is the best financial option you may be better off making lump sum payments into your loan. Dont get complacent once your savings pile up. If tempted to stop saving or spend your nest egg, deposit your savings stash directly into your loan and set yourself a new savings target in your offset account to continue to reduce the life of your mortgage. CONSIDERATIONS Some lenders do not offer offset accounts on fixed rate home loans. Check for any conditions, such as a minimal savings amount before the offset is triggered. Some offset accounts attract a higher interest rate or higher fees do your maths to ensure you actually save with the offset facility. Ask your broker to help assess if you will benefit from an offset account and to find the right facility for your situation. Make sure you read all of the terms and conditions of an offset account so that you are aware of how the facility works and all associated fees. KEY BENEFITS Reduce the interest calculated on your loan with every deposit into your offset account. The convenience of your loan and savings in one place, which can also save you bank fees. With no interest earnings on your savings, you can also save on tax. You still have access to your savings any time with your offset account. #vantageloans

08.01.2022 Ditch bad debt. Pay down your debt as quickly as possible if you want to get ahead faster. You might think you have more in your pocket by paying just the minimum monthly payment on your credit card, but you are only increasing how much you owe and how long you owe it which makes saving for your first home harder. #vantageloans

08.01.2022 We're not just here to help you find a loan with the right fit. We're here to make the whole process easier. Once we've found a loan, we'll help take care of the paperwork or manage the application process right through to approval. #vantageloans

06.01.2022 Split your loan. This is a good way to protect yourself against rate rises and extra interest payments. Keep one part of your loan at a variable rate and lock the other in at a low fixed rate for a period of time. If rates go down, your variable loans rate will too. If rates go up, youre protected because your fixed loan is at a lower rate. Its a bet each way. #vantageloans

06.01.2022 If you don't ask, you won't know. #vantageloans

06.01.2022 No single metric can sum up a suburbs prospects. Beyond the data there are a range of other factors that can influence local property markets, including existing and planned transport and roads, the quality of local schools, restaurants and cafes and community spaces, such as parks. Do your homework, and once you have homed in on a suburb, talk to me to help you find a loan that is right for you. #vantageloans

06.01.2022 You can ask your credit card provider to lower your limit. While you may never spend to your maximum allowance, lenders will look at your credit card limits when assessing your home loan application. Keeping a lid on your limit also removes the temptation to spend. #vantageloans

06.01.2022 If securing your first home, stepping up to something better or securing an investment property is on your to-do list for 2018 then it may be in your interest to maximise your borrowing power. Understanding how much you can borrow will help you make critical decisions, especially when it comes to what to buy and when. There are a number of factors that influence your borrowing capacity. The key ones are income and existing debt including credit cards and personal loans.... There are ways to bump up your borrowing power. Contact us to find out more. #vantageloans

04.01.2022 Check your credit file. If you have concerns about past debts or overdue payments, check your credit file and take steps to resolve any issues before applying for a loan. #vantageloans

04.01.2022 Make the most of a lump sum. Lump sums are free money! Not really, but a payment like a tax refund is cash that youve never really had. Youve already lived without it, so you wont miss it when you put it into your loan. And you certainly wont miss the extra months of payments and thousands in extra interest youll still have if you dont pay it. And this is just one single payment. Imagine how much youd save if you paid your tax refund into your loan every year. #vantageloans

03.01.2022 Every little bit counts Its remarkable what a large long-term difference a small extra amount can make. For example, $100 extra per month on a 30-year $400,000 loan at 5.5 per cent will take 2 years and 9 months off the loan and save almost $45,000 in interest. A simple way to make these extra payments is to round up. If your monthly payment is $2,240, round it up to $2,300. And it shouldnt be hard to find $60 per month. Its a current cliché to say buy one less coffee ...or cut back on the avocados, but the principle is right. A few small daily savings can save you big dollars. #vantageloans

02.01.2022 The Reserve Bank of Australia decided to once again reduce the official cash rate, this time to 1% in a concentrated effort to boost household spending and the economy in general. In making the decision to lower rates again this month the RBA has signalled its focus on supporting employment growth as it looks to restore inflation to within its target range and provide further stimulus to the economy. Here is how Australia's average mortgage sizes may be affected:... Loan amount example $150,000 - Likely decrease in repayments $21.45 per month Loan amount example $250,000 - Likely decrease in repayments $35.75 per month Loan amount example $350,000 - Likely decrease in repayments $50.05 per month Loan amount example $450,000 - Likely decrease in repayments $64.35 per month Loan amount example $550,000 - Likely decrease in repayments $78.65 per month Loan amount example $650,000 - Likely decrease in repayments $92.95 per month Interest rates are already at historic lows, and if lenders respond to the RBAs move by slashing their interest rates, there is an even more compelling case for you to review your lending options now. I'm here to work through the different rates available from our wide panel of lenders with you and I'm always available to ensure you have the right financial solution for your current and future circumstances. If you'd like to have a chat about what today's news means for you and your finances, please get in touch. #vantageloans

01.01.2022 It never hurts to look around at other institutions and their loans to ensure your mortgage is still structured to suit your circumstances. Even 0.5 per cent shaved from a $250,000 loan will save more than $23,000 over 25 years. Talk to us about your financial goals and circumstances so we can help you determine the right loan for your situation. #vantageloans