Ron Terrazas | Financial service

Ron Terrazas

Phone: +61 416 536 733

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24.01.2022 Too loyal or time-poor for a better rate? Problem solved Another month, another rate cut. Finance can be so tedious. That is until you realise it could mean more money in your pocket. But how? For many, matters of personal finance are so dull and/or difficult, they are immediately filed in the too-hard basket. And for their trouble, or lack thereof, these people are often slugged with a 'lazy tax' - the price paid for staying put.... Loyalty too, or simply being time-poor, can also be offences punishable by debt in the world of finance. But it doesnt have to be this way. A 2018 Australian Competition and Consumer Commission (ACCC) report showed that new borrowers with an average-sized residential mortgage paid up to $850 less a year in interest than existing borrowers with the same lender. However, despite the apparent benefits, actively ensuring an interest rate remains suitable is a practice that continues to elude many. Fortunately, there are people out there whose job it is to assist in this process. As a finance broker I play a vital role in assisting borrowers through the process of ensuring their mortgage is competitive. Best of all I am just a phone call away and am ready to guide you through the task of refinancing your loan. So get cracking. Send me a message! See more

23.01.2022 Watch this video to find out what you need to apply for a First Home Owner Grant. Buying your first home? Find out all you need to know in our First Home Buyer's Guide: https://bit.ly/31O16o7

23.01.2022 Up to $55k of government grants for building a new home. Now it's the time!! *$25,000 federal government building bonus *$10,000 state government first home owners grant ... *$20,000 state government building bonus

23.01.2022 What are the differences between going to a Bank or going to a Mortgage Broker?

22.01.2022 Keeping up with the industry changes is a must when making sure we are acting on our customer's best interest.

22.01.2022 Coronavirus in Australia: Surprise outlook for property prices as COVID-19 wreaks economic havoc

20.01.2022 There is no better time to look at your options

17.01.2022 Interest rate reduced!

16.01.2022 Following my post yesterday, are you considering taking a repayment holiday on your home loan? I urge anyone thinking of deferring repayments to you to contact me before making any decisions. These offers are designed to offer immediate relief but may come with repercussions which we haven't received any clarification for yet, for example, at the end of the repayment holiday you may have some capitalised interest you'll need to catch up on. So please, give me a call before going ahead to make sure you make an educated decision.

16.01.2022 Lately Ive been getting this question a lot: Is it really hard and painful to refinance my loan? Its actually really straight forward, especially for the customer. ... Sure, there are rules around responsible lending that we need to adhere too and dealing with banks is just boring so some people dont do it because they dont have the time or just because they put it in the too hard basket but it is actually really easy to refinance. In fact, I do it all for you. My job is to make it as easy and painless for you. So, to help my customers and friends understand exactly what is involved, Ive decided to use my YouTube skills and answer question on this topic and anything to do with changing or getting a home loan. Please send me an IM with your question and I will be making a video answering your questions. Questions can include the following: - Why should I refinance? - How often should I refinance? - How can my cashflow improve through a simple refinance/debt consolidation exercise? - What is the difference between variable and fixed and which one is best for me? - How do I buy my first home? - Why should I use a broker instead of going straight to my bank? Dont be shy! Send me your messages, youd be helping yourself and anyone else who has the same questions as you do and save yourself a lot of $$$

16.01.2022 Has your bank dropped your rate?? It has been about a week since the Reserve Bank announced a rate cut and many lenders, included the big 4, have dropped their rates. So it is time to ask, When was the last time you reviewed your mortgage? Are you missing out on some savings?... Interest rates are the lowest theyve been in decades! So what's stopping you from making the switch? Hit me up and let me help you!

15.01.2022 Interest rates on hold for now

14.01.2022 Awesome day today. I helped a client with some debt consolidation and refinance which will help him improve a considerable amount on his cashflow and a guided a couple of different customers looking to buy their first home.

14.01.2022 #PropertyInvesting checklist: Investment in real property, such as residential real estate, is likely to be a lengthy process and one that usually involves a plan for the long term. To ensure you have considered what is required before making the big purchase, weve outlined steps you need to take in that process. 1. Make the commitment...Continue reading

14.01.2022 Video up! Thank you to everyone sent me their question. Please share :D

14.01.2022 https://amp.news.com.au///c466d55f4802f320ba194215168f3f7d

13.01.2022 It's never been easier to access information, but sometimes a Google search just won't cut it. Take applying for finance: to find the most suitable option for you, it pays to have an expert in your corner. Someone who works in finance day in, day out.

13.01.2022 What is LMI? While some view LMI as being exclusively beneficial for lenders, it can also be of value for first home buyers. Not to be confused with mortgage protection insurance (which is designed to protect the borrower), LMI is insurance that covers the lenders risk within a residential mortgage transaction should the loan go into arrears and the borrower is unable to resolve the situation satisfactorily. LMI is a fairly common practice within the industry, particularly ...for new home buyers who may struggle to save a deposit. It allows an additional fee to be paid by the borrower and usually applies when the loan is more than 80 percent of the purchase propertys price. The purpose of LMI is to ensure security for the lender in case the borrower fails to make loan repayments. Even though the actual house acts as security, the nature of the property market, like any investment class, means there is a chance that its value could decline, resulting in a financial loss for the lender. The cost of the premium is dependent on several factors, such as the loan size and property value, and most insurers are flexible when it comes to the method of payment. It can either be a one-off upfront premium payment or that premium could be included in the overall cost of the loan and included in monthly repayments. It is not transferable, which means a new loan may require a new fee depending on how much equity the borrower has. Whats in it for me? While it may appear that it is exclusively favourable to the lender, there is value to borrowers in paying the premium. Opting for LMI means it allows a borrower to independently purchase a property sooner than they otherwise might. LMI is the alternative to using a guarantor or having to save for a bigger deposit, both of which are not feasible options for many first home buyers. A deposit of at least 20 per cent of the desired loan amount is required for a borrower not to be deemed high-risk. If you consider that the average price of a home in Sydney is $650,000, that would mean a deposit of around $130,000 is required. The beauty of LMI is that it buys time, which means borrowers with smaller deposits are able to enter the market sooner rather than later. The major benefit of LMI is that it allows the dream of home ownership to become a reality for a lot of first home buyers. To see if this is the case for you, send me a message. See more

12.01.2022 As promised! using my YouTube skills to answer your questions from my recent poll. Editing the video as we speak!

11.01.2022 Did you know that around 60% of Australians use a mortgage broker? I think that in the name of "best interest" this number should be higher than that. Watch this video to know why:

11.01.2022 A lot of customers come to me thinking that saving a bit of money on their home loan is way too much effort... Well, I just saved a customer over $4000 per year and they didn't even have to move from their current lender... #happycustomers make me happy :D

10.01.2022 Home Loan Rates Hit Record Low, when was the last time you reviewed your Home Loan?

10.01.2022 I love getting emails like this. It makes my job even happier :)

09.01.2022 Great opportunity even for non first home buyers

08.01.2022 Interesting read

05.01.2022 This article clearly summarises the hardship responses of the majors, but also gives you some guidance around interest capitalisation and what it means to you

05.01.2022 Good news story for the week: Clients wanted to refinance as they were not getting a great interest rate with their current bank. I was able to get them a great interest rate with their current bank so they did not have to move. They were over the moon!

04.01.2022 Having happy customers is a gift in itself but when customers show you how much they appreciate what I do it's just priceless. Thank you!!

03.01.2022 RBA keeps interest rates at 0.25pc

03.01.2022 Concerned about servicing your loans? If you are concerned about servicing your loan, reach out to your local mortgage broker for help. As Australians everywhere take a close look at their financial circumstances, mortgage brokers stand ready to lend a helping hand.... Whether experiencing financial hardship through job loss, a reduction in work hours, or business disruption, an increasing number of Australians may be struggling to balance their books as a result of the Coronavirus, and in many cases are wondering how they will continue to pay the bills. Difficulty with repayments According to research conducted by Finder in early 2020, about one in five mortgage borrowers, or about two million Australian households, were struggling to make repayments, despite record low interest rates. And with the challenging circumstances that have emerged since, it is anticipated that these pressures will only increase forcing more people to require financial assistance. Financial relief strategies In this difficult time lenders have responded by announcing financial relief strategies. In an official Australian Banking Association (ABA) statement, CEO Anna Bligh said, Banks stand ready to support customers and if anyone is in need of assistance, they shouldnt wait but come forward as soon as possible. Different lenders have different assistance options. These may include, waiving fees on early term deposit withdrawals, interest rate freezes on loans, options to defer or restructure home loan repayments, and emergency credit card limit increases. It is important to remember that mortgage brokers have the knowledge, experience and relationships necessary to assist people experiencing or expecting to have trouble paying their home loans as a result of changing circumstances. In times like these, the importance of mortgage brokers in assisting customers with hardship and facilitating access to credit cannot be overstated. For many Australians particularly those in rural or regional areas brokers may represent the only source of assistance. Banks stand ready to support customers and if anyone is in need of assistance, they shouldnt wait but come forward as soon as possible. Anna Bligh, ABA 2020 Anna Bligh Expertise of brokers is of critical support Brokers expertise in helping customers navigate the complex home lending market and their intimate understanding of their customers personal circumstances - means they are uniquely positioned to provide critical support for customers when discussing hardship and available options with lenders. If you have any questions or concerns about your existing loans, need further guidance on hardship assistance, or have other questions about your loan arrangements, please send me a message and let me see how I can help.

01.01.2022 Your Guide to Comparing Home Loans