Results Home Loans in Malvern East, Victoria | Local service

Results Home Loans

Locality: Malvern East, Victoria

Phone: +61 3 9569 5676

Address: 612-614 Warrigal Road 3145 Malvern East, VIC, Australia

Website: https://www.resultshomeloans.com.au

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24.01.2022 Borrowers turn to government stimulus to pay mortgage An increasing number of people are using government stimulus payments to pay their mortgages or rent, according to new data from the Australian Bureau of Statistics. The findings come in the ABS’s Household Impacts of COVID-19 Survey, which involved a telephone interview of approximately 2,500 adults conducted between 7 and 20 June 2020. Building on a similar survey undertaken in May 2020, the June survey aimed to understa...nd behaviours and perceptions around receipt and use of government stimulus payments, as well the level of concern for personal health due to COVID-19 (and actions taken to mitigate the risk of contracting it). Overall, the June survey showed a slight increase in the numbers of Australians who had received a government stimulus payment in response to the COVID-19 pandemic. The proportion of recipients of these payments rose from 32 per cent in May to 35 per cent in June. Moreover, the survey found that a growing proportion of Australians were using their personal government stimulus payments (such as JobKeeper) to pay their bills and mortgages. While around 14 per cent of all people receiving payments were using it to pay their mortgage/rent, a growing proportion of people said that this was the ‘main’ use of their payment. Six per cent of all people receiving payments said the ‘main use’ was to pay their mortgage/rent in May, creeping up to just over 7 per cent in June. Moreover, more than a quarter of employed people (27 per cent) who received a stimulus payment said they put it towards their mortgage or rent, compared to 8 percent of those not working or not in the labour force. Not only were employed people three times as likely to use it to pay mortgages or rent than those not working or not in the labour force, those who were employed were also found to be paying household bills with their payment (55 per cent compared to 38 per cent). Overall, the main use of the stimulus payment in June was to pay household bills (32 per cent), which was a change from May when the main use of stimulus payments was to add to savings (29 per cent). The findings around the use of government stimulus and mortgage payments come as many borrowers approach the end of their six-month loan repayment deferral period. The initial deferral periods, first launched in March 2020, were largely for a period of three months (with the option to extend for an additional three months). As at 19 June, nearly 800,000 borrowers had deferred their mortgage repayments. While lenders have agreed to extend the loan repayment period by another four months on a case-by-case basis (to no later than 31 March 2021), many borrowers have already begun repaying their loans. - The Adviser

23.01.2022 Borrowers turn to Bank of Mum and Dad in HomeBuilder confusion Many borrowers looking to build new homes with the HomeBuilder grant are relying on borrowed funds from family and friends due to the structure of the HomeBuilder scheme. The $25,000 HomeBuilder grants were launched earlier this year to drive economic activity across the residential construction sector.... Consisting of a $25,000 grant for owner-occupiers substantially renovating or building a new home this year, the grants are means tested, with the government setting income caps of $125,000 for singles and $200,000 for couples. While the grants have been popular with borrowers, its progress has been stymied by a lack of lenders accepting the grant as funds to complete, according to the broking industry The issue largely comes down to the fact that lenders have not been made appointed agents for the grant, unlike they are for the First Home Owners Grant (FHOG), where they can manage the funds. As such, many borrowers - particularly first home buyers (FHBs) looking to use the grant to enter the property market and build their own home - have been relying on borrowed/gifted funds to make up the shortfall. - The Adviser

22.01.2022 All non-major FHLDS places now reserved house sold All 5,000 places allocated for non-major participating banks within the FHLDS have now been reserved for the 2021-21 financial year.... On 1 July 2020, 10,000 new places were made available for the second round of the government’s First Home Loan Deposit Scheme (FHLDS). The FHLDS aims to provide up to 10,000 first home buyers (FHBs) per financial year with access to housing finance with a deposit of at least 5 per cent. Under the scheme, the government guarantees the difference between the borrower’s 5 per cent deposit and the standard 20 per cent deposit required to take out a home loan without paying lender’s mortgage insurance. A total of 27 lenders are currently on the FHLDS lender panel, with the majors CBA and NAB allocated 5,000 of the 10,000 loan spots guaranteed each year, with the other 25 lenders writing the remaining 5,000. In the past week, lenders such as Auswide Bank and Teachers Mutual Bank have announced that they would no longer be accepting new applications after exhausting their reservation allocation. Reservations are held for borrowers for 14 days, during which time they need to organise a finance pre-approval with their lender. Borrowers then have 90 days from the date of pre-approval to find a property and enter a contract of sale (however, a COVID-19 extension may apply). The Adviser reached out to the National Housing Finance and Investment Corporation (NHFIC) to understand how many places were still available, and it has now been confirmed that all non-majors have now filled their reservation quota. - The Adviser

21.01.2022 FHLDS New Home Guarantee details released deposit saving Further details regarding the new 10,000 places released under the First Home Loan Deposit New Home Guarantee scheme have now been released.... Last week, the federal government handed down the 2020-21 budget, outlining a swathe of tax cuts, concessions and payments to help encourage spending and rebuild the economy following the impacts of the COVID-19 pandemic and its associated recession. Among the measures announced by Treasurer Josh Frydenberg was the commitment to make available an additional 10,000 places under the popular First Home Loan Deposit Scheme (FHLDS). This doubles the total amount of places originally made available this financial year to 20,000. The news was welcomed by brokers, lenders and aggregators alike. What the FHLDS New Home Guarantee entails The National Housing Finance and Investment Corporation (NHFIC) has now released further details of the additional spots. The additional 10,000 places form part of what is now being called the FHLDS New Home Guarantee (NHG) for new homes and newly built homes. - The Adviser

21.01.2022 FHBs bearing heavier deposit burden Housing affordability pressures have intensified for first home buyers in five of Australia’s major capitals, who now require more time to save for a 20 per cent deposit, according to new Domain research. Property group Domain’s latest First Home Buyer Report has revealed that aspiring home owners in Sydney, Melbourne, ... Hobart, Brisbane and Canberra are likely to spend more time saving for a 20 per cent deposit with affordability pressures mounting. Sydney remains the least affordable capital city, where first home buyers (FHBs) require an average of six years and six months to purchase an entry-level house valued at $680,000, an additional two months on last year. FHBs in Melbourne are expected to encounter similar challenges, with the Domain report revealing that Melburnians require an average of six years to secure a 20 per cent deposit for a house worth $600,000, also up two months on last year. FHBS looking to enter Canberra’s property market have seen the sharpest deterioration in affordability over the past year, requiring an additional four months and a total of five years and five months to secure a deposit for an entry-level house worth $606,000. Affordability pressures are less pronounced in Brisbane; however, FHBs still require an average of four years and six months to save for a deposit for a $450,000 house, up one month on last year. Despite remaining one of the more affordable capital cities, FHBs in Hobart now require an average of four years and two months to secure a 20 per cent deposit for a $380,000 house, up three months on the previous year. The hit to housing affordability across the aforementioned capitals has coincided with annual price increases, slightly offset by downward pressures experienced off the back of the COVID-19 crisis. Canberra reported the sharpest annual house price growth (6.6 per cent), followed by Hobart (6.4 per cent), Melbourne (2.9 per cent), Sydney (2.6 per cent) and Brisbane (1.9 per cent). However, some capitals recorded improvements in housing affordability over the past year, with FHBs in Darwin (three years and one month) and Perth (three years and five months) requiring one less month to save for a 20 per cent deposit to purchase a house worth an average of $362,000 and $366,580, respectively. Conditions remained unchanged in Adelaide, where FHBs require an average of three years and 11 months to save for a deposit for a house valued at $375,000. This coincided with house price declines of 2.6 per cent in Darwin over the past year, and 2.4 per cent in Perth, while remaining flat in Adelaide. - Mortgage Business

20.01.2022 Major banks open New Home Guarantee waitlists The two major banks on the FHLDS are opening their waitlists for the additional 10,000 places under the New Home Guarantee from today. The First Home Loan Deposit Scheme (FHLDS) New Home Guarantee was among the measures announced by Treasurer Josh Frydenberg in the 2020-21 budget. Providing an additional 10,000 places under the popular First Home Loan Deposit Scheme (FHLDS), the New Home Guarantee provides government guarantees to... first home buyers loans on new homes and newly built homes. The two major banks on the FHLDS lender panel National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA) have today (Wednesday, 21 October) opened their waitlists for the New Home Guarantee. Those looking to build or purchase a newly built home are able to request a place to join the banks’ waitlists, either directly or through the broker channel. Commonwealth Bank group executive Angus Sullivan commented: We have already helped more than 3,000 Australians purchase a house under the scheme and are extremely supportive of the move to extend this to an additional 10,000 Australians looking to buy their first home. - The Adviser

20.01.2022 Have you recently had a health check on your home loans? Now would be a great time with rates this low!

19.01.2022 When is an interest-only investment loan the right choice? Investing in property can be a financial juggling act. There’s the initial outlay, repayments, fees, insurances and midnight calls from tenants with flooded apartments. Interest-only investment loans are one way landlords are keeping costs down. Without the need to repay capital, the monthly payments are lower than for principal-plus-interest loans. This helps to maximise cash flow while continuing to benefit from cap...Continue reading

16.01.2022 NAB extends COVID-19 IO loan measure The major bank has announced a range of changes to its loan policies, including an extension of support for IO loans and its LMI waiver policy for medical professionals. National Australia Bank (NAB) has announced that its measure to support customers with interest-only (IO) loans impacted by the coronavirus pandemic has been extended for IO loans expiring before 31 March 2021. Earlier this year, NAB told Mortgage Business that while IO sw...itches were not available for principal and interest borrowers without a full serviceability assessment, it has been implementing a fast-track process for IO term extensions for eligible customers impacted by COVID-19 since April. NAB had said that no credit assessments were required for 12-month extensions to IO terms due to expire by 30 September. The bank has now announced that this support has been extended for IO loans expiring before March 2021. NAB said it will work with brokers’ clients through the fast-track process provided the eligibility criteria are met, which include: Customer is on an IO loan due to expire prior to 31 March 2021; - Loan is not already at maximum IO term (five years for owner-occupiers and 10 years for investors); - Extension sought is only for 12 months; - Customer has not signalled that their financial situation has not been significantly affected or their ability to repay the loan; - Customer is not currently on a repayment pause, in arrears and/or struggling to meet repayments; and - Existing loan was assessed prior to 5 August 2019. - The Adviser

15.01.2022 FHB demand soars, bucks credit trend Home loan enquiries from the first home buyer segment have spiked despite record declines in overall lending volumes, according to new research. Major broking franchise Aussie Home Loans has reported that home loan enquires from first home buyers (FHB) surged over the month of June, up 219 per cent from the previous corresponding period.... This comes despite a sharp drop-off in demand for housing credit across the broader market, with the latest data from the Australian Bureau of Statistics (ABS) revealing that the value of home loan approvals plunged 11.6 per cent (seasonally adjusted terms) to $16.4 billion in May the largest fall in the history of the series. This followed a 4.8 per cent decline in April, which was the sharpest fall since May 2015. According to Aussie CEO James Symond, a combination of falling home prices, lower mortgage rates and stimulus from the federal government has helped keep FHB demand afloat amid the general slump in confidence off the back of the COVID-19 crisis. With property price growth dropping off, along with the lowest interest rates on record, and a range of government schemes on offer, if you are in good shape from an employment and income perspective, now could be a good time to get into the market, he said. FHB demand is also expected to be supported by the second phase of the federal government’s First Home Loan Deposit Scheme, which opened on 1 July. The scheme first launched in January of this year, with 10,000 places being made available for the six-month period January to June 2020. A further 10,000 places have now been made available for the 2020-21 financial year. According to government figures, brokers facilitated approximately 44 per cent of all scheme placements, making it the most popular introduction channel in the scheme overall. - The Adviser

14.01.2022 First Home Loan Deposit Scheme NAB waitlist in effect from Wednesday 22 July 2020 Since its introduction earlier this year, the First Home Loan Deposit Scheme (FHLDS or ‘Scheme’) has been extremely popular with prospective home buyers looking to achieve their home ownership dream. To manage the demand for Scheme places, from Wednesday 22 July 2020 NAB will introduce a waitlist for interested customers. From this date, you’ll need to first request to add your customer to the waitlist and then wait to receive notification from NAB’s Scheme Support Team before submitting a conditional approval application for a Scheme-Backed loan.

13.01.2022 Major bank reports ‘ferocious’ cyber attacks since COVID-19 A big four bank has said that it has been fighting millions of ferocious cyber threats and seen a 78 per cent increase in fraud attempts over recent months. According to the group chief risk officer of National Australia Bank (NAB), Shaun Dooley, the bank has seen a surge in cyber attacks and fraudulent activity in 2020.... Speaking at the House of Representatives standing committee on economics’ ongoing review of Australia’s four major banks and other financial institutions last Friday afternoon (11 September), Mr Dooley revealed that NAB had seen a 78 per cent increase in fraud attempts, and a 33 per cent increase in estimated loss in the period May to June. - Mortgage Business

12.01.2022 Turnaround times bounce across big 4 Processing lags for mortgage applications have persisted, with turnaround times increasing across all four major banks, the latest Broker Pulse research has revealed. According to Momentum Intelligence’s latest Broker Pulse statistics which involves a monthly survey of sentiment towards lenders across the third-party channel turnaround times for home loan applications increased across each of the big four banks over the month of July. ... ANZ continues to trail the pack, with its turnaround times increasing for the fifth consecutive month, from an average of 26 business days in June to 27 business days as at 31 July. However, the Commonwealth Bank of Australia (CBA) and Westpac Group recorded the sharpest monthly increases, up by an average of three business days to nine business days and 14 business days, respectively. Meanwhile, NAB’s turnaround times increased from an average of nine business days in June to 10 business days. As a result, surveyed brokers downgraded the net promoter scores (NPS) of all four majors. ANZ received the lowest NPS rating (-67), followed by NAB (-33), Westpac (-31) and CBA (0). - The Adviser

12.01.2022 From the Team at Results Home Loans, we would like to wish all our wonderful clients and their families a Merry Christmas! We hope it's one filled with Love, Laughter and Joy!

11.01.2022 ANZ exec bracing for surge in loan deferral requests The major bank’s head of retail and commercial banking is anticipating a rise in requests for loan repayment holidays off the back of a second wave of shutdown measures. According to the Australian Banking Association’s (ABA) latest data, approximately 800,000 borrowers have deferred loan repayments in response to the economic fallout from the COVID-19 pandemic.... But internal data from Australia’s major banks suggests that approximately 20 per cent of mortgage-holders on repayment holidays have since resumed loan repayments. Speaking to ANZ’s internal media platform, Australian group executive, retail and commercial banking, Mark Hand, added that new enquiries for loan deferrals have eased significantly over the past few months, with borrowers adjusting to the new economic landscape. - The Adviser

08.01.2022 Home sales spike points to HomeBuilder boost: HIA A sharp increase in new home sales has been attributed to a bump in sentiment from the federal government’s HomeBuilder scheme. According to the Housing Industry Association’s (HIA) latest survey of the largest volume home builders in Australia’s five largest states, new home sales (contract to build) increased 61.3 per cent quarter-on-quarter in the three months to August 2020.... On a month-on-month basis, Queensland recorded the sharpest increase in hew home sales in August (19.1 per cent), followed by NSW (11.7 per cent), Western Australia (11.4 per cent) and South Australia (7.4 per cent). Victoria was the only state to record a decline (14.4 per cent) due to the reintroduction of strict lockdown measures. HIA chief economist Time Reardon attributed the recovery in home sales to incentives provided by the federal government’s $688-million HomeBuilder scheme. - Mortgage Business

05.01.2022 HomeBuilder construction period extended in Victoria The government has confirmed that HomeBuilder participants in Victoria will be given more time to commence residential construction. Federal Minister for Housing Michael Sukkar has confirmed that construction commencement time frame for Victorians participating in the government’s HomeBuilder scheme which provides $25,000 owner-occupiers substantially renovating or building a new home from 4 June to 31 December will b...e extended to six months. Under existing arrangements, participants are required to commence construction within three months of the settlement data; however, the exemption has been granted in light of newly imposed stage 4 lockdown measures aimed at curbing the spread of COVID-19. Mr Sukkar noted that a provision included in HomeBuilder’s design allows states and territories to extend the time frame by up to three months where commencement is delayed due to unforeseen factors outside the control of the parties of the contract. Given the unique lockdown affecting Melbourne, as well as restrictions throughout regional Victoria, the decision to extend the commencement time frame made by the Victorian Commissioner of State Revenue provides certainty and confidence to applicants and builders alike, Minister Sukkar said. The construction industry is a key to our nation’s economic success and the need for clear and effective guidelines to ensure as many jobs of tradies are protected throughout the COVID-19 pandemic is vital. The Morrison government will continue to work with industry stakeholders and state and territory governments as we deal with the economic effects of COVID-19. The government recently noted the contribution of the HomeBuilder program on activity in the residential construction sector. Treasurer Josh Frydenberg cited figures from the Housing Industry Association, which reported that the HomeBuilder package helped spur an increase of almost 80 per cent in new home sales over the month of June following a record-low result in May. In minutes released from its July monetary policy board meeting, the Reserve bank of Australia (RBA) also acknowledged the impact of the HomeBuilder program. - Mortgage Business

05.01.2022 ANZ launches eSign tool The major bank has announced that it is introducing a new digital signature and document execution process, effective 27 July. ANZ Bank has introduced ANZ eSign to enable all of the various application forms on LoanApp and ApplyOnline to be electronically signed via the eSign tool.... ANZ eSign is targeting new and existing home loan customers requesting either a new home loan application or a streamlined credit critical renewal (SCCR) or a non-credit critical renewal (NCC). Commenting on the launch of the electronic signature tool, ANZ said: With more of everyday life becoming digital, we are striving to place helpful, easy to use and convenient solutions in the hands of both our customers and you. The following documentation will be available to sign digitally via ANZ eSign from ApplyOnline and LoanApp: Application form Statement of position Breakfree form Email consent form Applicant guarantor declaration (applicant and guarantor) Guarantor self-declaration If your customer is unable to, or would prefer not to sign their documents digitally, they can still physically sign their home loan documentation, the bank said. According to the major bank, all other home loan documentation will continue to be signed in accordance with standard procedures. - The Adviser

05.01.2022 Lender ramps up home lending scrutiny COVID-induced crackdowns on home loan serviceability have continued with yet another lender reducing its risk appetite. BOQ Group (includes Virgin Money) has revised its credit policy for home loan applications as part of its ongoing commitment to responsible lending.... The bank has informed brokers that effective immediately, it will undertake more thorough reviews of mortgage applications from borrowers with a debt-to-income ratio (DTI) total debts divided by gross income that exceeds 6. Brokers submitting loan applications with a DTI ratio greater than 6 will now be required to provide detailed supporting notes, which substantiate the funding request. BOQ is the latest of a number of lenders to lower its DTI threshold, joining the likes of ANZ and Teachers Mutual Bank Ltd (TMBL). The non-major bank has also made changes to its minimum nominal rental requirements for mortgage applications. Effective for all home loan applications (including top-ups) submitted from 20 July, BOQ will include a minimum nominal rental figure of $650 per month in its serviceability assessment. - The Adviser

03.01.2022 The countdown begins... Wishing everyone a Happy New Year in the hopes that 2021 brings us opportunities to celebrate with family and friends!

02.01.2022 FHBs helping ‘pick up the slack’ amid COVID drag Continued demand for the First Home Loan Deposit Scheme is a reflection of the market’s resilience to the COVID-19 crisis, a federal minister has said, after sharing new statistics from the second round of the program. Assistant Treasurer and Minister for Housing Michael Sukkar has shared new figures from the second round of the First Home Loan Deposit Scheme (FHLDS), which commenced in July. Minister Sukkar told participants i...n a webinar hosted by Australian Finance Group (AFG) that in just two months, first home buyers (FHBs) have reserved approximately 65 per cent (6,500) places available in the second phase of the FHLDS. The minister said this was an encouraging sign, given the ongoing economic fallout from the COVID-19 pandemic. [We’re] in the middle of a pandemic [and] Victoria’s suffering a second wave for 65 per cent of the allotment to be taken up within the first couple of months of the financial year is quite remarkable, he said. It just shows that there is resilience in the economy and resilience among the confidence levels of first home buyers and, I suspect, Australians more broadly. Minister Sukkar went on to dismiss overly bearish forecasts for housing market activity, but acknowledged that demand would remain somewhat subdued, particularly in light of an expected 15-20 per cent reduction in net overseas migration. - The Adviser

01.01.2022 How to boost your borrowing power when buying your first home Your borrowing capacity is the amount a bank will lend you to buy a home. It’s based on factors like your income, how much deposit you’ve saved, other existing debts, and how much you spend on books (even though you haven’t finished the ones you already have). A borrowing power calculator can help you with a ballpark figure. But if you’re heading to an auction or want to sign a contract, you’ll need to know exactly...Continue reading

01.01.2022 6 benefits to downsizing your home 1. Increased cash flow If you haven’t paid off your current mortgage, a smaller property could reduce your monthly repayments this frees up your cash flow enabling you to save or pay off other debts (like a car loan or credit card). Smaller properties can be cheaper to cool, heat and run, so you could save on utility bills, too. And with the money you save?... 2. Better for the environment Yep, downsizing helps the planet too. Because small homes can be cheaper to run, you’ll reduce your energy and/or gas consumption. And if you do your research before you buy, you can invest in an eco-friendly home one that’s made with recycled materials and solar-powered systems and even has a rainwater tank. 3. New and better location Turn your fantasy suburb into a reality. From a coastal beach house to an inner-city apartment, if you’re downsizing you could buy in your dream location. 4. Less maintenance A smaller property means there’s less to clean and tidy, freeing you up to enjoy your new home and neighbourhood. And if you’ve come from a place with a big backyard, say goodbye to endless weeding, sweeping and pruning. 5. A fresh start They say a change is as good as a holiday. So, if the kids have moved out, you’re all about the ‘New Year, new me’, decided you’ll never complete those renovations or simply want to embrace a new lifestyle, downsizing could be the change you’ve been looking for. Moving house also means new neighbours, which could mean new friends, new travel buddies or even someone new to share a glass of wine with. 6. A new style Is your home still rocking an overstuffed leather recliner? Or has that three-piece pine dining suite seen better days? (Thanks IKEA circa ’93.) Downsizing is the perfect opportunity to invest in some stylish new furniture you’d actually be proud to own. There are many benefits to downsizing your home. From cleaning less and saving more to living in a hip-new suburb, you’ll discover that sometimes smaller really is better. - ME Bank