Red Hill Finance Company in South Fremantle | Mortgage brokers

Red Hill Finance Company

Locality: South Fremantle

Phone: +61 8 9129 4418

Address: Western Australia, South Fremantle 6162 South Fremantle, WA, Australia

Website: http://redhillfinance.com.au

Likes: 125

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22.01.2022 Our latest blog post on the common question "how much deposit do I need?" For the full blog click to our website https://redhillfinance.com.au/amazing-post-with-all-the-go/... This is a commonly asked question which does not have an easy answer. Akin to the old saying ‘how long is a piece of string’. The simpler answer might be ‘the more the better’ or ‘as much as possible’. Lets unpack the deposit question. Lenders Mortgage Insurance LMI LMI is payable when a borrower has less than 20% deposit (there are some rare exceptions to this rule but that would be another blog post in itself). Bear in mind that costs are required on top of this stamp duty, council rates, utilities connections, conveyancing etc. So to avoid LMI a borrower needs 20% of the purchase price PLUS 100% of the costs in cash. This may be referred to as ‘funds to complete’. As a very general rule of thumb 25% of purchase price would be the required funds to avoid LMI. Given that costs vary greatly and the state based cost of stamp duty is quite variable the 25% number is quite vague yet is fairly close most of the time. What if I don’t have 20% plus costs in cash? This does not mean that you can’t be a borrower. This just changes the dynamic of the lending arrangement and in most cases will mean that some LMI will be payable. Generally speaking it is advisable to avoid LMI when you can, but embrace it when you need to. For most people especially first home buyers a 20% deposit can seem an unachievable goal. At the very least most lenders will require evidence of 5% genuine savings over a period not less than 3 months. This can be akin to a proven probation a lender is in the business of lending money; by demonstrating a reliable savings pattern a lender will take some comfort of having their minimum repayments being met. LMI is usually added to the loan amount so it is not a cost that has to be paid upfront; but over the life of the loan. What if I don’t have cash however I have existing equity in a property? This is also a common theme amongst borrowers. Especially so if the security property has given the owner the good fortune of increasing value. Available equity may be able to be extracted to be used for another property purchase. There are several ways that this can be structured; and it would depend on the scenario as to the optimum way to go about this. At Red Hill Finance we give personal credit advice. We are regulated by strict protocols to hold a licence to be able to do so. Everyone’s circumstances are different. We take the time to get to know our clients, their needs and objectives not only in the short term but also the long term so that we can tailor an individual lending plan suitable to each scenario. Based in Fremantle, WA, we service clients Australia wide. We can also assist with budgeting and cashflow tools in order to assist with deposit savings or household budget management in the lead up to; or after getting a loan.

20.01.2022 Soooo nice to be recommended by a satisfied client and friend.

20.01.2022 Another vehicle financed by Red Hill Finance Company. The client purchasing this vehicle has a very busy schedule so to be of greater assistance I’ve personally liased with the dealership for contracts and delivery.

19.01.2022 Always satisfying working with first home buyers and helping with their property aspirations. Great to receive such a positive review.

17.01.2022 Interesting take on the housing market for 2021 from Macquarie Bank. Macquarie Bank is one of over 30 lenders we deal with. https://www.youtube.com/watch?v=VQNxgaRJkEg&feature=youtu.be

14.01.2022 Sooo nice to receive such a nice review from one of our earliest clients :-)

14.01.2022 Excited to announce that Bernie will be a guest on Your Mortgage with Cate Bakos on PropertyTV.io tonight! Check it out #LIVE from 7pm AEDT or catch up any time after the show's broadcast at https://www.propertytv.io/show/your-mortgage/bernie-johns #TrustedVoice #YourMortgage #PropertyTV

13.01.2022 18 5 star reviews within a few months of going digital. Very proud of this achievement and the trust received by clients. Number 1 on google search for mortgage broker in Fremantle. Dealing with clients Australia wide. Check out our google business page: https://g.page/red-hill-fremantle?we

13.01.2022 Excited to announce that Bernie will be a guest on Your Mortgage on PropertyTV.io tonight! Check it out LIVE from 7pm AEDT or catch up any time after the show's broadcast at https://propertytv.io/news/v/1247 #TrustedVoice #YourMortgage #PropertyTV

12.01.2022 So satisfying to be recommended by existing clients; thanks Viv and Matt

11.01.2022 Pleasure dealing with Ryan :-)

09.01.2022 HomeBuilder fact sheet released by the federal government https://www.mba.org.au//homebuilder-frequently-asked-quest

08.01.2022 Signage graphics are finalised for our sponsorship of the Fremantle Cockburn Hockey Club. Can’t wait for the signs to be printed and displayed at ‘The Nest’.

07.01.2022 Red Hill Finance Company will remain operating during the impending lockdown, holding appointments remotely. #staysafe

06.01.2022 Honoured to be supporting the Fremantle Cockburn Hockey Club #hockey #financebroker #magpies #fremantle #cockburn

05.01.2022 Quick note by Bernie Johns our finance broker. Hasn't it been a crazy few months. Only a matter of weeks ago there were queue ups at super markets and empty shelves. Tensions were high. Things seem now to be transitioning back to a new kind of normal.... Most of my clients will also be aware of my strong connection to Virgin Australia Airlines. Also many of you share this connection My thoughts go out to those who have been affected; from outright redundancy to stand down and ongoing job uncertainty. What have I been doing during the 'lockdown' era? Well, aside from being somewhat a stay at home Dad, I have taken the time to completely re direct my finance business. Whilst I have operated under the business "Red Hill Finance Company Pty Ltd" for some time now; I have actually 'branded' as Finweb. I have now 'rebranded' to Red Hill Finance Company whilst maintaining my affiliation with Finweb. I'm still offering the same old fashioned service as always; but the reason for the brand change is so that I can pivot into an online presence which would not have worked with the Finweb brand as it is a shared brand and my marketing will be mine alone. So you may still see some Finweb insignia from me but will transition to Red Hill Finance Company. Once my google business page is registered (maybe a few weeks away) I will be contacting past clients to ask for google reviews. This will be a great assistance in establishing the online presence. We're not quite ready for those reviews though. In the meantime please like / comment / share the Red Hill Finance Company facebook page and checkout the website www.redhillfinance.com.au. I look forward to further helping you and your family / friends with their financing needs! We remain open for business.

04.01.2022 We are live on Google. Watch out for updates https://local.google.com/place