Sailesh Sharan | Loan service

Sailesh Sharan

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25.01.2022 Youre a parent whose grown up kids want to buy their first home. And because you want the best for them, you probably also want to ensure that they get the correct advice before they sign anything. A truer word has never been spoken. ...and I think the best start for first home buyers is to talk through their options with someone who has done it before as well as someone who is directly involved with the process every day.... If you are a parent whose children have grown up, youve probably bought a home before. Im helping people buy their home every day, its my job. This means, together, we are well qualified to point your young adults in the right direction when it comes to buying their first home. So, why dont we catch up with your kids and discuss their options together. Between us, we should be able to provide helpful advice and motivation along the way. I provide home loans for just about everyone and every situation so why not try me out? It doesnt usually take long and the privacy act ensures our conversation is entirely confidential. A cuppa and a chat. It could be as simple as that.

24.01.2022 Six Steps to becoming mortgage-free - Step 6: Is the grass greener on the other side? Do you ever wonder if the grass really is greener on the other side? The question today is: are you getting the best deal on your mortgage? How would you like to make a few small changes that could lead you on the path to becoming mortgage-free and financially fabulous?... Well, there are six simple steps that you can implement today, that will help you knock over that home loan in record time. In the past weeks, we learned how choosing the best possible loan product could make a big difference to your back pocket. How changing the frequency of your repayments could lower your interest. Why it makes sense to pay more off your loan whenever possible, how to make the most of handy features like offset accounts, and redraw facilities, and why refusing lollies from strangers is always a good idea. Step 6: Refinance for a better deal The fierce and ongoing competition between lenders in the home loan market can sometimes play out like a scene from Gladiator. But the clear victor emerging from this never-ending battle is you - if you keep your finger on the pulse. Now more than ever, its vital that you keep assessing your financial needs and look out for opportunities to get a better deal on your loan. Even though you compared your options and secured the best deal a few years ago, that doesnt mean that your current interest rate is the best, or even close. By refinancing with another lender you could reduce your costs, and save time. Many borrowers who refinance are able to save as much as 1% off their interest rate, which could mean paying that loan off several years earlier than planned. If you havent reviewed your options for a while, it pays to speak with your mortgage broker and find out if the grass really could be greener on the other side. It could make all the difference if you want to pay your loan off sooner, and keep more money in your pocket in the process.

24.01.2022 Why you should choose a mortgage broker over a bank For most people looking for a home loan, the choice is simple just head to the nearest bank and see what is available. On the surface, this seems like convenient and straightforward option, so why look for a mortgage broker when the bank is right there on the main street? Here are three things a mortgage broker will offer you that your bank won’t: ... 1. Choice When you visit your bank manager to talk about a bank loan, the manager is going to offer you their latest products. The manager isn’t going to tell you that a rival bank has an offer more closely streamlined to your circumstances. And a year down the track, the manager won’t reward your loyalty by suggesting a new option tailored to your current circumstances. However, your mortgage broker has access to products from countless banks and lenders, so they will find the one that is most suited to your requirements. When your circumstances change, as you pay off your loan, your broker can suggest a different package. 2. Specialized assistance Bank employees are in the business of promoting the bank’s services which includes securing your loan. Every lender has their own method for approving or declining a bank loan, and you can waste a great deal of time trying to provide the correct application. Your broker already has an inside knowledge of how each bank assesses an application, so you have a better chance of being approved first time around. Your broker can also negotiate with the bank for policy exceptions to tailor the package to your individual specifications. You can also choose a broker who specializes in your particular loan requirements. For example, if you are purchasing a property investment, you will need a broker who understands all the financial issues of that type of loan. 3. Administrative support The mortgage broker will manage all the paperwork on your behalf and follow up with the lender, keeping you updated on the progress of the application. This saves you time and a great deal of stress, while providing you with one point of contact throughout the business of securing the loan. Ultimately, your mortgage broker is saving you both time and money by simplifying the loan application process and ensuring that you find the loan package most suited to the size of your deposit and your ability to make repayments. Contact us today if you want personalized advice about how to complete the loan application process and find the right loan package for your needs.

24.01.2022 Australians are enjoying the lowest interest rates in history. It is no coincidence that the growth of the Mortgage Broking industry has forced the big banks to compete for your business by lowering their interest rates. Without us, everyone will be paying more for their home loans. https://www.keepcompetitionalive.com.au.

23.01.2022 Despite the lockdown, social distancing, constant hand washing, and our kids finding new and innovative ways to drive us crazy .... We are still smashing it for our clients. The best of the bunch for the last couple of weeks were a married couple from Melbourne.... Single income family, with one teenage kid. The income earner works hard and earns a good salary but on our call, he said that he feels like he could be doing better. I ask "why do you think this"? He proceeds to tell me that everyone seems to be doing better than us. This is a common theme with my clients. Everyone thinks the grass is always greener on the other side. The fact that this couple is looking to save money wherever they can and build their wealth tells me they are playing the long game. I reassure him that they are doing very well and looks are definitely deceiving when trying to keep up with the Jones'. I then go on to show him how we can save $900 plus per month on his home and investment property. Play the long game. You'll thank yourself later. Click on the link below to learm more....... https://saileshsharan.kartra.com/page/optin

22.01.2022 Are you ready to purchase a new car but dont want to get hit with high interest rates from expensive car dealerships? Our team can help you secure fast, low-rate car finance to get you on the road. Our partners also offer conditional approval for up to 60 days, giving you time to shop around and find your dream car.

22.01.2022 When is the time to Refinance If you have been paying your home loan for a while or your circumstances have recently changed, it is probably time to consider refinancing. The mortgage market is volatile and moves very quickly, so the loan you thought was a good at that moment in time may now be quite expensive, relative to the interest rates new borrowers are getting in the market for home loans today. DO THE REFINANCE TEST Have you been paying your current loan for three o...r more years? Have any of you changed jobs in the last two years? Did your marital status change, got married or separated recently? Do you need equity release for home renovations, travel or helping children in the next few months? If you have answered yes to two or more then it is time to refinance and get in touch with your mortgage broker to do a quick review of your finances and see how much you will be saving. Learn more....... https://saileshsharan.kartra.com/page/optin

21.01.2022 For the more adventurous - here is a guide to investing in Commercial Property. When mum and dad investors consider property, most look no further than the residential market. While homes and apartments may be seen as simpler and safer options, many investors are prepared to defy tradition and set their sights on the commercial sector....Continue reading

21.01.2022 Refinance - Insider Tip While refinancing may save you money, the interest rate is not only the factor that you should consider. Mortgage fee structures, loan features, and differences in credit policy amongst lenders are also major drivers of refinance activity. Sometimes the thing your existing lender won’t do for you, is the most important factor when searching for a loan approval with a new lender. Learn more..... https://rb.gy/aaezz5

21.01.2022 Discover the best ways to get your first home. Low interest rates, flat property prices and government grants continue to entice plenty of first-time buyers into the home market. While home is where the heart is, savvy first-time buyers are also using their heads. Here are some of the best ways to make your first move....Continue reading

21.01.2022 Sharing a little bit of motivation for the day

20.01.2022 What are reasons Borrowers are switching lenders 1. A great home loan has a lot of features An expert home loan broker can find a home loan that best suits your needs and listed below are some of the features:... Fixed or variable Rate Options - Shifting your home loan between a fixed rate and a variable rate, or picking a combination of the two can assist you with dealing with your home loan in accordance with the changes of the financing cost in the market. Flexible Repayments - If you have saved money, you leave it in an 'offset' account and reduce the interest of the loan which will lead to reduction to the life of the loan. Redraw facility - This facility allows you to make extra repayments and if a need arises you can withdraw the additional repayments. There are lenders that have this facility Portability - The choice to take your home loan from one property to another. If you sell your current home and buy a new home then you have the ability to transfer the loan to the new property and reduce costs. 2. Debt Consolidation This option allows various other loans at high interest rates to be consolidated in your home loan with reduced interest rates leading to only one manageable repayment. This helps in managing finances better and will lead savings in a longer run 3. Equity Release The house prices keep rising over a period of time, so when you refinance you can take cash out to do so many things like putting a deposit for an investment property, renovating your house, going on holidays, consolidating debts and helping your children with the deposit to buy their first home. Learn more.......... https://saileshsharan.kartra.com/page/optin

20.01.2022 Know your rights as a borrower. As a borrower, it pays to know your rights - and dont be afraid to exercise them! It can all seem a little intimidating when you apply for a loan, and it seems like the lender is putting a lot of conditions on you as the borrower. But what are your rights? Borrowers are heavily protected by state and federal law, and you can expect your lender to keep up their end of the bargain too. You have:... The right to know what youre in for The lender must provide you with a very detailed contract which outlines all of the terms and conditions of your loan in clear language. You should take the time to understand all of your obligations, fees and charges and make sure the loan amount details are all correct. The right to know your interest rate Your lender is required to communicate interest rate changes to you in advance - either directly, or by putting an advertisement in a major newspaper. The right to know your repayment amount The lender must provide you with written notice at least 20 days before your interest rate is due to increase. The right to a copy of your loan statement A loan statement must be provided to you every six months. You have the right to dispute any transactions that you dont feel are correct or justified. The right to pay out your loan at any time There may be some fees involved, but you do have the right to pay your loan out at any time. Accordingly, you also have the right to know your payout figure, which your lender must provide to you within 7 days of receiving a written request. The right to terminate your contract before the funds are drawn down You have the right to pull out of the transaction if the funds have not yet been drawn down for settlement to take place. The right to get assistance in times of financial hardship There is legislation in place to protect you if you experience financially tough times. Its worth investigating the relevant options so that you are ready for the unexpected. But, you would remember from childhood that more rights usually equals greater responsibilities. There are a few obligations that you must keep to your lender as well: Provide truthful, factual information when you apply. - Make all of the repayments on the due date. - Keep the property in good condition and dont make any big alterations without getting permission from your lender. - Take out insurance for the full replacement value of the buildings/structures and keep the insurance policy paid and current. - Dont sell, rent, or mortgage the property without your lenders permission.

19.01.2022 What Is Refinancing? Refinancing is the process of getting a new mortgage by changing the terms of the one you already have on your home. You might be thinking of refinancing your mortgage for a few reasonslike taking advantage of lower interest rates, switching mortgage lenders, reducing monthly mortgage payments, or using money from the refinance for a big purchase or a deposit to buy an investment property. Don’t worryrefinancing doesn’t mean you end up with two mortgage...s! Instead, your first loan is technically paid off through the refinancing process and a second loan is created in its place. The great news is that for borrowers like you there has possibly never been a better time to refinance. The Australian mortgage market perhaps is more competitive than ever before and when you find a better deal it is easier and often attractive to shift from one lender to another. If you think you are ready and prepared to begin the process, an accomplished mortgage broker is best place to assist you. Get in touch today and see how much you will be saving by Refinance Learn more...... https://saileshsharan.kartra.com/page/optin

19.01.2022 The super low interest rate known as Honeymoon rate So what is a honeymoon rate? The mortgage market is more competitive than ever before, banks and lenders are going all out to create great refinance deals. One of these is known as the ‘honeymoon rate’. which has actually been around for many years now The concept behind honeymoon rates is this. The interest rate will be very low for a set period at the start of the loan term usually for one or two years in order to encourag...e you to apply and borrow with that lender. The lenders have been known to offer rates that are up to two percentage points lower than the standard variable rate. After the honeymoon the rate reverts to the effective ongoing interest rate, the new effective rate may prove to be more expensive over time when compared to standard rates available for fixed or variable loans Your mortgage broker can advise you whether a honeymoon rate is likely to prove cost effective over time, or not. There may be hidden fees applicable to honeymoon rate loans that discourage borrowers from switching out of that product and into other cheaper loans. Learn more...... https://saileshsharan.kartra.com/page/optin

18.01.2022 We all know that interest rates are cyclical and that when rates go down they will eventually go up. As a result, lenders have been assessing loan applications on the ability of borrowers to make repayments at interest rates approximately 2% higher than those currently available. While lenders have been assessing your ability to make repayments at a higher interest rate, what is the reality of the fi nancial impact of your regular loan repayments?... To make sure you are ready, click here to read my "What goes down, must come up" article. https://www.mortgageaustralia.com.au//whatgoesdownmustgoup

18.01.2022 Does refinancing make you feel like youre about to paddle out into this? Not me!

18.01.2022 Comparison of Professional Package Loan with a Basic Home loan. A Packaged home loan offers the following: interest rate discounts and combines a variety of other consumer products such as credit cards, debit cards, transaction accounts with great interest rates, insurance discounts, etc. These packages are targeted at particular types of market sectors or occupations such as lawyers, doctors, high income clients, etc and offer lots of benefits for consumers who fit the elig...ibility criteria. When considering these and other packages with the benefits, care needs to be exercised. These packages come with package fees which in some situations can outweigh the benefits Whereas a basic Home Loan does not come with bells and whistles that you get in Professional Package loan. It has insignificant highlights, a low base financing cost and a customer pays expense structure. Both have their place in the market. The way forward is to examine and discuss these loans with your mortgage broker and to compare the advantages and disadvantages of each type of loan. Learn more...... https://saileshsharan.kartra.com/page/optin

18.01.2022 Refinance tips Always look for rebates and specials offered by the lenders Every lender wants a new business and from time to time they provide promotional offers. The higher the loan amount the greater are the incentives. Some of the offers are listed below: Cash back cash paid straight into your account after settlement of the loan Discounts on the Lender's Mortgage Insurance (LMI) premium... Interest rate discounts No application fees Legal fee discounts When it comes to refinancing, Rebates can be highly attractive and they can potentially help you save more money, faster. Working with a mortgage broker can help you find the better market specials, most suited to your particular needs and circumstances. With interest rates at all-time lows today, you can choose to have the rate priced with enough rebate to compensate the closing cost as well as significantly lower your mortgage payment. Learn more........ https://saileshsharan.kartra.com/page/optin

16.01.2022 Would you walk away from your current lender to save $87.35 per month? Paul from Melbourne is. See, Paul (and I) think about this differently. Its actually $28,301.40 he is saving because he has his mortgage for another 27 years. Then with our re-Mortgage Method, hell save another $21,449.53 and slash 5 years and 4 months off his mortgage. ... I dont know too many people that wouldnt cross the road for $48,781.65. I certainly would. p.s. his loan amount is only $250,758 p.p.s. his new bank is also giving him a $2k refinance bonus. See more

16.01.2022 Refinance - Insider tip ASSESS YOUR CURRENT MORTGAGE RATE Is your home loan still in sync with the current mortgage market? Just because your mortgage was competitive in the past is no guarantee that it’s still a good rate today. And even if you’re not yet quite ready to refinance, having your home loan assessed by a professional is the way to determine if it’s still suitable for your situation. A mortgage broker can evaluate your home loan and compare it to the prevailing fe...es, rates, and charges offered by dozens of other lenders. Learn more......... https://rb.gy/aaezz5 See more

16.01.2022 Most Australian homeowners choose to refinance because of interest rate. But thats not the only thing to consider when deciding whether or not to refinance. If you are thinking about refinancing, its important you consider all of the reasons to do so, as well as the options available to you so you can make the best decision. Here are four benefits to refinancing you might not have considered. Today I will discuss the first benefit... 1. Shorten your term Of course, term length can move in two directions. If your financial situation has changed for the better and you can afford to pay more every month, you could refinance your home loan with a shorter term. This way, your mortgage will get paid off sooner and youll be making the most of your increased income. Of course, you dont need to refinance in order to do this but it is certainly one option if youre considering this process. Since you may be able to refinance to a lower interest rate, the differences in your monthly payments would be less severe, leading to less money spent on interest over the life of your loan. Click on the link to learn more..... https://saileshsharan.kartra.com/page/optin

15.01.2022 Some tips to help you buy your next car for less. Enjoy that new car smell longer. There is something special about buying a brand new vehicle - the smell... the pristine paint... the purring of a well timed and perfectly balanced motor.... ... So how do you ensure that feeling is not soured as you drive out of the car dealership? Car dealerships can be a very high pressured sales environment. The salesperson has a number of techniques they will utilise to ensure their bottom line is better than yours. The most important factor to ensure you obtain a good deal is to do your research before you start negotiating. When buying a new vehicle, generally a number of individual transactions take place: 1. purchasing your new vehicle, 2. selling your old vehicle, and 3. organising finance. When negotiating, you should strive to win on each of these transactions. Before entering negotiations with the salesperson it is recommended you complete the following steps, which are outlined here in my latest factsheet: "Enjoy that new car smell longer!" https://www.mortgageaustralia.com.au//enjoythatnewcarsmell

15.01.2022 A wise person once said: failing to plan is a plan to fail. As probably the most significant purchase of your life, saving for a home definitely takes prior preparation and planning! - How much can I afford? You may have a dream home in mind but you first need to work out if you can afford it. There are many factors that feed into our decision around what to buy and where - proximity to work and family and our stage of life are just a few - but the single biggest decider is ...nearly always what we can afford. Its really a case of looking at the big picture and working your way back from there. Consider your household income and what you realistically can afford in loan repayments, taking into account all of your expenses. As a guide a mortgage calculator can be a great place to start, but it wont take into account all of your personal circumstances or eligibility for a loan so talk to your local Mortgage Broker to get your plan underway. https://www.moneysmart.gov.au/ - How much do I need for a deposit? Ideally, you should start with a 20% deposit to avoid paying lenders mortgage insurance (LMI). This is a one-off insurance payment charged by lenders to those borrowers who are considered a higher financial risk. Your risk is determined by your loan to value ratio (LVR), which is the amount you wish to borrow divided by the lenders valuation of the property you wish to buy. Lenders generally like to have at least a 20% buffer so if you have to default on the loan, they stand a good chance of recouping the loan amount through the sale of your property.. Although LMI can add several thousand dollars to property purchase costs, many borrowers consider it a worthy investment to help secure a loan with a lower deposit. The critical factor is whether your income can support the higher loan repayments. Ask your broker for an LMI estimate based on your financial situation before deciding how much you need for your deposit. - Saving for a deposit: Working out how much you need for a deposit can be fairly easy compared to actually saving for it. Sacrifices are generally in order!. ?Budget cuts The best place to start is a budget. Review all of your expenses, including day-to-day costs like lunches, coffees and transport, and your bigger bills, such as rent and electricity. Dont forget to also include any annual bills such as car insurance and registration, which can sabotage your savings. Then its times to get a little ruthless and look for ways to cut back on costs. Here are just a few ideas: - Make your lunches. - Dine in, not out, with friends. - Ditch the gym membership and start exercising outdoors. - Make a list for your groceries and stick to it. - Save, dont spend, your tax return and/or salary bonus. https://www.moneysmart.gov.au//calcula/mortgage-calculator

14.01.2022 What type of person are you? My clients are the smarter not harder type. Why ?....... because that's how reMortgage Framework rolls. It amazes me the lengths some people will go to to save some money. Driving an extra 10km to save 3 cents per liter on your fuel. ... Shopping at Aldi (going in for bread and coming out with a slow cooker?!?) I even knew a guy who use to use his tea bags 3 times each before throwing them out. But when it comes to our mortgage which is usually our biggest expense, we get it then forget it. Nope - please don't do that. This is what your bank thinks you're going to do so they take that as an invitation to jack up your rate. While at the same time offering new customers much better deals that what they are offering you right now. I dont know any other industry that is able to get away with this type of pricing on such a large scale. If you trust your bank stop reading here. If you dont trust then keep on going as you're about to do something about it..... finally. All it's going to take is a 15 minute strategy call and I'll show you exactly how much better off you'll be with the reMortgage framework. On average it reduces my clients mortgage term by 6 years and 10 months and saves them $122,215.06 in interest along the way. The best part is, whatever result you get. Be it less than the average or, believe me, in some cases much much more. You'll get this without increasing what they are currently paying your bank right now. It's smarter not harder. My clients have made their choice. What type of person are you? Book your 15 minute strategy call here: https://rb.gy/aaezz5 See more

14.01.2022 How to take advantage of a buyers market: One of the keys to success in the property market is TIMING. So how do you know when the time is right to step up on the property ladder?... For the answer, download our guide to "Taking Advantage of a Buyers Market". https://www.mortgageaustralia.com.au//takingadvantageofabu

14.01.2022 RP Data Monthly Housing Market Update https://youtu.be/qMVorlXAwoM

14.01.2022 How to negotiate a better deal To refinance there are some key aspects to consider negotiating a better home loan deal: Check your credit rating -Get your free copy from Equifax to check your credit history. Your broker will discuss the report with you. This will help you to know exactly where you stand when you start negotiations Find out as much as possible of the different rates and offers by the Lenders and you will be able to know what’s available in the market to ne...gotiate a better deal for your refinance The lenders really like to sign up customers who have a good asset base and their ability to repay the loan and would like to sell as many products as possible Mortgage products fall into one of several categories: fixed rate, basic home loan, professional pack, line of credit, offset, investor loans and so on. Any lender who offers a product in a given category competes with other lenders in that category on interest rate, but also on features and fees. Consult your mortgage broker who is there to guide you through the many lenders & loan products to make sure the borrower gets the loan that suits their needs and objectives. Learn more...... https://saileshsharan.kartra.com/page/optin See more

13.01.2022 Could this be the year you get your finances on track? We'd like to wish you a Happy New Year. It's always an exciting time. It's a chance to look ahead and think about what the next 12 months hold. Better still, it's a good time to plan your finances and make sure you've got the right mortgage to suit your needs. As a mortgage broker, I work with my clients every year to check-up on their loans. It's an obligation and cost free service I'd like to offer you.... This year could be the year you refinance your current loan to get a better deal, start or expand your property investments, buy your first home, or even take out a commercial finance product. Any large loan is one of the biggest financial decisions you'll ever make. It has a huge impact on your life. So it's important you get it right. And that's where I can help you. I have access to over 1450 different loan products, and I know that the right loan product for you is out there. It's just a matter of finding it. With this much choice it can be difficult for you to navigate through it all. I can steer you through, saving you time and ensuring you get the right solution for you, not the banks. Then I'll go into bat for you with the lenders to negotiate the deal that suits you, and take care of the whole process, from application through to approval and settlement. And you will pay no more than going direct to a bank. Put simply, I can make it much easier for you to get the right financial product, saving you time and, hopefully, a lot of money. Please feel free to drop me a line or give me a call to arrange a time and place. It can be at your work or home, over a coffee or over the phone - whatever suits you. I look forward to help making your year a truly happy one. Book now for a strategy session at a time convenient to you...... https://saileshsharan.kartra.com/page/optin Sailesh Sharan JP(NSW) Mortgage & Finance Broker Mortgage Australia Group Pty Ltd Authorised Credit Representative Number 502718 Mobile 0478 412 949 Email: [email protected] Facebook: https://www.facebook.com/saileshsharanmortgagebroker Website: www.mortgageaustralia.com.au/saileshsharan

12.01.2022 There are four benefits to refinancing you might not have considered. Continuing from my prevoius post, today we will look at the second benefit. 2. Access equity If youve already paid off a chunk of your mortgage you could actually use the additional funds as a deposit against further borrowing. Refinancing to access equity can be undertaken to free up cash for home renovations, but there are numerous things you could do with these funds to make them work for you. If you do choose to access your equity, it is recommended that you dont spend it on short term expenses (such as a holiday) and instead invest in your future. Renovations around the house should ultimately lead to an increase in value. To learn more click on the link below. https://saileshsharan.kartra.com/page/optin

12.01.2022 If you are planning to start a family - these financial tips will help. Are you managing a mortgage and starting a family? Many a new parent has been caught out realising our once organised calm life is a thing of the past when we bring our bundle of joy home. Its amazing how tiny babies can turn our household upside down.... We quickly learn that we need to be more flexible about when we eat, sleep, go to the shops and even have a shower. It helps to be flexible in your financial life too when the impact of a reduced household income and the expense of a new addition to the family start to become apparent. A little forward planning now can make it easier to focus on whats important later - your family. Here is a guide with some ideas on how you can relieve the financial pressure of starting, or increasing, your family - Can you manage a Mortgage and a Baby? https://www.mortgageaustralia.com.au//amortgageandababy.pdf

11.01.2022 Great news for home buyers. https://www.rba.gov.au/media-releases/2020/mr-20-28.html

11.01.2022 If you are a property investor - here is how to increase your rental returns. Youve taken the plunge into the investment property pool and now have to find tenants. Although most rental markets throughout Australia remain tight, theres still a need to put your propertys best foot forward to attract optimum returns. Here are some of the ways you can add value and ask for more rent for your investment....Continue reading

10.01.2022 We pride ourselves on the personal relationships we have with our clients and we're committed to ensuring we deliver a first-rate service. It gives us no greater pleasure than seeing our clients move two steps ahead with their finances and really grow their wealth. More and more we're seeing clients in out-of-date mortgage solutions. These solutions may have been the right ones a few years back, but with the mortgage market more dynamic than we've seen in some time and lender...s hungry for business, there are some incredibly competitive rates on offer. Now is an ideal time to review the deal you're in. And this is where I come in. As a mortgage broker, I go into bat for clients every day to ensure they're not paying too much on a mortgage that isn't as competitive as it could be. And I look at each client's individual circumstances to make sure they have the right home loan to suit their financial situation. If you're looking for new finance, looking to invest, perhaps refinance to take advantage of lower market interest rates, cash out a portion of their equity, or to reduce your monthly payment with a longer repayment term. If you keep paying the current repayment, then you can save thousands in interest rate and shave off 5 to 6 years from the life of your loan, or just haven't reviewed your current finance arrangements for a while, let's talk. With access to over 1450 different loan products from Australia's leading lenders, I'm able to negotiate great rates on a home loan that suits you, not one that necessarily suits your bank manager. And remember, I'll do the hard work for you. I take all the headaches away, managing the process from start to finish - at no cost to you for my service. I'd love to hear from you and do a quick review of your circumstances. Do drop me a line or give me a call and let's make sure you're not paying more than you should for your home. We can start a discussion by phone or over a coffee, at a time that's convenient for you. Book now for a strategy session at a time convinient to you...... https://saileshsharan.kartra.com/page/optin Sailesh Sharan JP(NSW) Mortgage & Finance Broker Mortgage Australia Group Pty Ltd Authorised Credit Representative Number 502718 Mobile 0478 412 949 Email: [email protected] Facebook: https://www.facebook.com/saileshsharanmortgagebroker Website: www.mortgageaustralia.com.au/saileshsharan Linkedin: https://www.linkedin.com/in/sailesh-sharan

10.01.2022 What is Lenders Mortgage Insurance Lender’s Mortgage Insurance (LMI) does not protect you, it only protects the lender. You pay LMI if you need to borrow more than 80 per cent of your property’s value. LMI may be charged by the Lender if they feel the risk in lending the funds is high and it covers the lender against any loss that might arise should the future sale of the security property be insufficient to cover monies owed to the lender. When it comes to refinancing, LMI c...an affect the interest rate savings in many ways. Different lenders charge different LMI premiums. if your loan requires a high LVR, any refinance transaction should consider the LMI cost. In some cases a lender with a slightly higher interest rate may be a better option, if their LMI premium is significantly lower than other lenders. LMI is non-transferable and if you have already paid when you have bought your home, you might be required again to pay another LMI when you choose to refinance your home loan. Talk to your broker to get a better understanding. Learn more...... https://saileshsharan.kartra.com/page/optin

10.01.2022 Is changing your job going to affect your ability to buy a new home? Approximately half the Australian workforce is considering a job change at any one time. Younger people are the most active in the job market with those under 30 almost twice as likely to change jobs as those aged over 40.... But did you know that lenders may not view a new job as positively as you do? If you are thinking of buying a home or investment property, its important to get your timing right when it comes to changing your employment so it doesnt upset your plans. But if you are considering a career change, or have recently changed jobs, by managing things properly you may not need to put your borrowing plans on hold. To avoid problems, please check out this article - "Will the Bank be Impressed with my New Job". https://www.mortgageaustralia.com.au//willthebankbeimpress

10.01.2022 If securing your first home, stepping up to something better or securing an investment property is on your to-do list 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....Continue reading

10.01.2022 Lenders are keen to offer Loans with other financial products as bundles. The primary advantage of bundling when you choose to refinance is the lower interest rate applied to your loan compared to the interest rate applied for 'non-bundled' loan applications. Some of the financial products that may be available are : Credit Card Personal Loan Offset account Life Insurance... Health Insurance Financial Planning Term deposit Bundled products may allow you to manage your financial portfolio more easily because you only have to deal with the one lender. However, bundled lender products are not for everyone, especially if you have existing financial products with other banks. The best way to determine if the bundled bank products are really for you is to talk to a professional mortgage broker and they will explain the pros and cons of bundled offers and each item you want included in the bundle. Learn more...... https://saileshsharan.kartra.com/page/optin

09.01.2022 Dont kick yourself later - ask these questions today and avoid loan confusion. Theres nothing worse than walking out of an important meeting, only to realise that you forgot to ask some important questions. One of the most important meetings you will have when you enter the property market is your initial meeting with a mortgage broker.... In order to get the most value out of your appointment, and improve your chances of being approved for a loan, you need to come along prepared to answer a host of questions about your finances and your living situation. But dont forget to ask some questions of your own. After all, the goal is to find the right loan for you, which wont happen if you dont speak up. When meeting with your mortgage broker, remember to ask: Which loan is right for my situation? There are a range of loans available but your mortgage broker should be able to help you decide which ones best fit your lifestyle. What is my borrowing power? This is usually based on your income and financial commitments, and it can vary greatly from one lender to another. What percentage of the property can I borrow? Its important to know how much you need to put down as a deposit, and also whether you need to pay other upfront costs, or whether they can be included in the loan amount. Will I have to take out LMI? Lenders Mortgage Insurance covers the lender in case you become unable to make your repayments, and there is a shortfall when the property is sold. Some lenders require borrowers to pay this amount upfront. Which loan offers the best rate? Some loans might offer a good introductory rate, but its important to look at the ongoing rate once the honeymoon period is over. What flexibility does the loan offer? Can I make changes down the track? What if I want to make a lump sum payment in the future? Is the rate fixed or variable? Variable rates are usually lower, but keep in mind that they can change frequently. Fixed rates are a little higher but they provide some certainty for those on a strict budget. However fixed rate loans are usually a lot less flexible than variable rate loans. What will my repayments be? Its important to look at your budget and make sure youre not over-committing yourself. How much is the loan establishment fee? This is another cost that is often payable upfront, so you will need to ensure that you have funds available at settlement if this is the case. Are there any ongoing fees associated with the loan? Monthly account keeping fees can vary between lenders so its important to make sure you compare your options. Are there any conditions to be aware of such as discharge costs, fees to change the loan? Not asking this question could be very costly if youre planning to refinance down the track, or make a significant lump sum payment in a few months.

09.01.2022 Use the cold to get it sold! With many property buyers in hibernation over winter, if you are thinking of selling, the cold weather is your sign that it is a great time to spruce up your property, ready for the spring selling season. Here are my top tips to prepare:...Continue reading

08.01.2022 Now is the time for REFINANCING your home loan, this is a once in a lifetime opportunity with record low interest rates mean you could potentially save thousands of dollars and pay off your mortgage sooner. Other refinance benefits are: reduced loan repayments, ability to consolidate debts which reduces your monthly outgoings with a single repayment, get funds to renovate, install a pool or purchase a significant item, finance to purchase an investment property,... parent equity guarantees to assist your children to purchase a property, or any other finance requirement Get in touch now to save thousands of dollars as these very low interest rates will not last for long. Sailesh Sharan JP(NSW) Mortgage & Finance Broker Mortgage Australia Group Pty Ltd Authorised Credit Representative Number 502718 Mobile 0478 412 949 Email: [email protected] Facebook: https://www.facebook.com/saileshsharanmortgagebroker Website: www.mortgageaustralia.com.au/saileshsharan Linkedin: https://www.linkedin.com/in/sailesh-sharan

08.01.2022 Benefits of a mortgage offset account An offset account is a bank account linked to your home loan. Rather than accumulating interest within the account, the money in the offset account is offset daily against your mortgage, reducing the interest payable on your mortgage. For example, if you have $20,000 in your offset account and a mortgage of $400,000, you will only be charged interest on $380,000 rather than the full $400,000. This can drastically reduce the length of you...r mortgage and the amount you need to pay in the long term. Tax free interest As you are not earning compound interest from the money in the offset account, you are not liable to pay tax on that money. Instead you are increasing the equity in your property. Flexibility As the mortgage account is like any other transaction account, you can deposit and withdraw funds such as your salary without incurring access fees. As the offset amount is calculated daily, you can keep a lump sum in the account for emergencies while reducing interest on your loan. However, some lenders do place restrictions such as minimum transaction amounts and withdrawal fees which could end up costing more than the interest you save. Is the offset account for you? The people who benefit most from offset accounts are those who can keep a significant sum of money in an accessible account over the long term. If you are instinctively a saver, an offset account is preferable to having to pay tax on interest, as you are making significant gains through equity. It also gives you a flexible alternative to paying extra money directly into the mortgage, as you can still access the funds quickly and without penalty in case of emergency. Even having your salary deposited into your offset account ensures that for one day at least you will reduce the interest payable on your mortgage for that day. However, if you are only keeping a small minimum balance in the offset account, the interest savings will not be so significant. Talk to your mortgage broker or financial advisor about whether an offset account would be suited to your current circumstances. And before opening an offset account, make sure you are fully aware of any fees or conditions that may have a negative impact on the long term benefits. If you would like more information about how an offset account could work for you, contact us today for a personal appraisal.

08.01.2022 One little mistake that could ruin your life - and how to avoid it. There are so many things you need to organise when you purchase a property, and many buyers become quite overwhelmed with all of the paperwork, and coordinating their move. Mistakes can be made, and you might be surprised if you knew how many people forget to do a thorough inspection before settlement.... By thorough inspection, I dont mean turning the lights on and off and looking for marks on the wall. The biggest mistake that many buyers make at the last hurdle, is forgetting to measure the boundaries of the property to check that everything is correct. You might think that this isnt really a big deal - who cares if the neighbour has a few centimetres of your back yard? Well sometimes it can make or break you financially, and cause an enormous amount of stress and conflict in your life. Meet the Wilsons: The Wilson family discovered the importance of checking boundaries when they moved from their 3 bedroom townhouse to a house with a big backyard in Fremantle last year. It was a hectic time for everyone, and it wasnt easy packing up the house with a baby and a toddler to think about. When the Wilsons did their final inspection, everything looked to be in order. The vendors had left the house wonderfully clean which was very helpful. They even mowed the lawns and replaced some of the light bulbs. The couple had forgotten to borrow a measuring wheel but they took a couple of minutes to count their paces along the boundary line to see that the title was correct. It wasnt until several months later that the family was confronted by their new neighbour on the left. Hed been measuring his block to get a planning permit through the council for a possible home extension. In the process, he discovered that the Wilsons garage on the edge of their property was actually built over 1.5 metres of his land. What followed was a lengthy legal battle which was expensive and stressful for all parties. In the end, the Wilsons were forced to tear down one side of their garage and make alterations to reduce its size. They also had to remove and rebuild the fence along the left boundary of their property. This is a great example of why its so important to do your research when you buy a property, and avoid ending up in a similar situation.

07.01.2022 Top tips for young property investors It is possible for people to launch into the property investment market in their early twenties in fact, this is a great time to start, when you are first launching into your career and don’t yet have any other financial responsibilities such as a family to support. However, buying an investment property can never be an impulse decision it takes self-discipline and applied knowledge to start building a profitable investment propert...y portfolio. Set a budget and save The first step of course is to start saving for your first deposit, which is usually at least 20% of the purchase price (can be lower, check with your broker). You will need to be focused and realistic, and quite single minded in order to save a sufficient amount. Your best option is to set a budget and create a clear financial plan that will help you remain focused and prepared once you do buy your first property. Think long term While some of your peers will be looking into short term gratification visiting pubs and night clubs, booking overseas holidays or buying a new car - you need to establish a mind-set that focuses on the long term rewards of building your investment portfolio. Learn from the experts While you are saving your deposit, take this time to educate yourself about the property investment market and the best type of property for your first investment. Read articles about property investment and monitor the real estate section of your local newspaper, so you can build a vision of an affordable and profitable investment property. Consult local agents and mortgage brokers as soon as possible so they can offer their insight into the market. Seek advice from a professional accountant, who can oversee your savings plan and advise you on your first home loan. Consider a family guarantee If you have the option, you could ask a family member to act as guarantor of your bank loan. The guarantor allows the equity in their property to act as additional security for your home loan. This strategy could potentially reduce the amount of deposit you need to save. You can split the loan into two portions, so your guarantor is only guaranteeing one portion of the loan. That way, you can pay off that portion first, so you can release your guarantor from the agreement as soon as possible. Invest, don’t gamble Gambling is a game of chance where you can hope to win big but you are perhaps more likely to lose it all. Investment is based on knowledge and experience, so you make decisions that will be profitable in the long term. Learn everything you can about the property and the market, so you can make objective, beneficial decisions.

06.01.2022 There are four benefits to refinancing you might not have considered. Continuing from my previous post, today we will look at the fourth benefit 4. Consolidate your debt If you have numerous loans from multiple lenders maybe a credit card thats gotten a bit out of hand refinancing your loan can be a good way to lump all of this debt together. In many cases a home loan will have a lower interest rate than a credit card, therefore can reduce the amount of interest you pay,... allowing you to potentially pay this debt off sooner for less. However, debt consolidation isnt always a good idea. If you simply move this debt to your home loan, you may be paying for your credit card debt for the next 30 years. It is important that if you do consolidate other debt into your home loan, you pay off that portion of your debt as quickly as possible. Its best to talk to your broker about your existing debt to find out if home loan refinancing is the right option for you. To learn more click on the link below. https://saileshsharan.kartra.com/page/optin See more

05.01.2022 The benefits of using a mortgage broker Your broker will do most of the paperwork and the legwork, so you can spare yourself the research and save time and money Most brokers these days have access to advanced software for loan comparison that makes it very easy to compare multiple loans Special offers and ‘rebates’ could deliver substantial savings over the term of your loan. Your broker can help you to find deals that you might not be aware of if you were to do it yo...urself. If your case is ‘difficult’ or complex, a broker’s credit policy knowledge is a huge advantage in getting your loan approved. An experienced broker will often know which lender to recommend to match your refinancing needs. It is much easier for the Brokers to compare different lenders' loans products and negotiate to get a better interest rate because brokers have access to multiple lenders all the time. You do not pay the broker, the lenders pay brokers for getting new clients but in some cases the brokers may charge a fee directly to the borrower. Everything is explained in plain English by your mortgage broker. Learn more...... https://saileshsharan.kartra.com/page/optin

04.01.2022 Mortgage holders may be reluctant to make moves in the property market right now, but plenty are interested in making moves with their home loan. The AFG Mortgage Index indicates around 35% of new home loans were due to refinancing. At the same time, a survey for Ernst and Young by Quantum Market Research found 65% of borrowers were looking to be rewarded for loyalty with lower fees and better rates. However, a third of potential switchers admitted they gave up because there ...Continue reading

03.01.2022 Your Perfect Match - How to find a loan that keeps you warm at night. Do you find that youre usually attracted to the same type of person? We all have a mental image of our perfect mate - some people are even lucky enough to wake up next to that person each day. Just as the dating market can be tricky to navigate, its easy to miss the signs and find yourself attracted to the wrong home loan.... To help you find a loan that loves you unconditionally, here is a quick run-down of the different types available. Basic Loan The basic home loan usually doesnt have a lot of fees. What you see is what you get. Usually you get a low interest rate, but you dont get much else. If you want some features, and flexibility this might not be the match made in heaven. Introductory Rate loan Otherwise known as a Honeymoon loan this one is a bit like some new relationships. You get a really good deal at the beginning, and everyone is happy. After a year or two the honeymoon is over, and you find out what the loan will really cost you. A good option if you want to keep your repayments down in the beginning - but make sure you investigate the interest rate that you will be charged after the introductory period. Standard Variable rate loan For those who want to be able to pick and choose their features, the standard variable rate loan could be your perfect mate. You generally get a low interest rate, but the flexibility to select some options that suit your needs. Low-doc Loan A low-doc loan is a good alternative for Self-Employed borrowers who are often unlucky in love when it comes to finding their ideal mortgage. Low-doc loans allow you to use different methods of proving your income. The rules are usually a little less restrictive - but you will pay a much higher rate. On top of this - most lenders require self-employed borrowers to contribute a 20% deposit, and cover all upfront costs such as Stamp Duty and Lenders Mortgage Insurance (LMI). This is a good option for people who dont have any other options. 100% home loan Also known as a No-deposit loan, this one allows you to borrow 100% of the purchase price. Dont be fooled though - this is not a free ride. Most lender still require you to save a 3% deposit to cover the LMI, and youll also need to make sure that you have enough left over to cover stamp duty, moving costs and conveyancing - and any other associated costs. Sometimes these loans are available, sometimes they are not, it depends on the current lending environment - but it never hurts to ask.

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02.01.2022 Here is why you shouldnt scrimp on loan repayments: With household costs on the rise, many mortgagees are struggling to balance their budgets. Its not surprising more Australians are skipping mortgage payments to help make ends meet. However, missing loan repayments could land you in a bigger hole. Not only will you be up for late fees - ranging from a manageable $9 to a stinging $195 per overdue payment - but you could be adding thousands of dollars of extra interest to yo...ur debt. At worst, a string of missed mortgage payments could see the bank recalling your loan, forcing a fire sale of your home. Even a couple of missed payments could put a red flag on your credit history, which is going to cramp future borrowings. One of the best ways to reduce the risk of mortgage stress is to give yourself a buffer on your budget. In Australia, its recommended borrowers mortgage repayments make up no more than 30% of household income. The problem is many home owners borrow to the edge of the threshold when interest rates are low - as they are now - leaving no room for inevitable rate rises and other increased living costs. Instead, budget for mortgage repayments at a 9% interest rate, a long-term average that accounts for peaks and troughs over the long run. When rates are low, stick the extra funds into your mortgage. You will not only save on interest but will have established a safety net, which you can draw on if needed when rates run high. If you are already feeling the pinch and struggling to make payments, talk to a Mortgage Broker sooner rather than later. A Mortgage Broker can help negotiate with the lender on your behalf and can look into other loan options to ease the squeeze.

02.01.2022 How to narrow down what you want in a home Before you can find the perfect home, you need to know exactly what you are looking for and as you may come across desirable homes that include only a few of the features on your list, you need to know which features are the most important to you. As a further complication, you will generally be working on this list with your spouse or partner, who may have different priorities to you! So how do you work out what you are looking ...Continue reading