Sandra Dignam in Arcadia, New South Wales, Australia | Mortgage brokers

Sandra Dignam

Locality: Arcadia, New South Wales, Australia

Phone: +61 414 903 443

Address: 10 Sunnyridge Road 2159 Arcadia, NSW, Australia

Website: http://www.mortgageaustralia.com.au/mortgagebroker/sandradignam

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25.01.2022 Here are the most common questions I get asked by people who want to save money on their current home loan: Can I get a mortgage where I pay less than I'm paying now?... In almost all cases, yes. But if for some reason you can't find you a cheaper loan, there was certainly no harm in trying. With lenders adjusting their rates outside of the reserve bank now is a great time to shop around check that you have the right loan for your needs, I am a great starting point. It will depend what interest rate you're currently paying, what type of home loan you have (e.g. fixed, variable, interest only, line of credit) and what features you want in your loan. We can quickly explain your options. Can I consolidate credit card or other debts into a home loan? This is one of the reasons many people refinance. The advantage is that you pay a much lower interest rate on a mortgage than for most other forms of debt - e.g. credit cards, overdraft facilities, personal loans etc. Providing you have sufficient equity in your property, you may be able to consolidate all your debt on a home loan. If you take this option though it is important to make sure you maintain your repayments at their current level or you could end up paying more over a longer period of time. Speak with me anytime to discuss your personal needs. How much money can I borrow? We're all unique when it comes to our finances and borrowing needs. Get an estimate on how much you could borrow with our clever loan options tool. Chat to us when you're ready, we can help with calculations based on your circumstances. How do I choose the loan that's right for me? Our guides to loan types and features will help you learn about the main options available. There are hundreds of different home loans available, I can recommend the right loan setup for you. How often do I make home loan repayments - weekly, fortnightly or monthly? Most lenders offer flexible repayment options to suit your pay cycle. Aim for weekly or fortnightly repayments, instead of monthly, as you will make more payments in a year, which will shave dollars and time off your loan. What fees/costs are involved in switching mortgages? Penalty fees could apply if you're paying off a fixed rate mortgage early, but it usually costs only a few hundred dollars in administrative costs to your current lender for a variable mortgage. But I wouldn't recommend a loan where these costs are not substantially offset by repayment savings when you switch home loans. I'll walk you through any fees that will apply in your circumstances.

24.01.2022 How do you get your hands on the equipment you need to grow? And how do you do this whilst still keeping the all-important cash flow and working capital in hand? Talk to me today about smart solutions when it comes to asset and equipment finance.

23.01.2022 Cure your confusion today - 9 steps to purchasing your first home. Do you start to get a headache when you think about everything involved in getting a home loan? Don't despair. Many other borrowers have felt the same way in the past. ...Continue reading

22.01.2022 If you're like me, you've read the occasional newspaper over the past 12 months, and you probably couldn't help noticing that home loans and real estate have been the subject of some serious changes. So if you think about it, it's possible that your home loan could benefit from a slight update as well. Nothing too serious, but it's probably worth having a look. You see, you may have a home loan with a lender who has a new or better product. Now they are unlikely to call you a...nd let you know about this, aren't they? Or you may have a fixed rate loan that you can now justify converting back to a variable rate. So if you're not exactly sure where you stand with your current home loan, why not give me a call and I'll check it out for you. You can jump on my website and test our debt consolidation calculator to see how much you could save each month just by refinancing or consolidating some of your debt. It doesn't cost anything to find out if everything is still OK and it usually only takes a few minutes. The least I can do is point you in the right direction, and the privacy act ensures our conversation is entirely confidential. What do you think?

21.01.2022 Is your old equipment slowing you down? Old tech? Outdated machinery? Vehicle breakdowns? Will the purchase of new assets or equipment speed you up, help you become more efficient and help you get ahead? Asset finance is often the answer. ... Financing new equipment, instead of purchasing it outright, can be a good way to preserve cash flow and working capital while adding an asset that can begin to generate immediate income. And, of course, there may be potential tax advantages that could also come your way.

20.01.2022 Have you considered a second residence on your property? Home owners looking to invest in a rental property without taking on significant debt are finding a solution in their own backyard. The granny flat is regaining popularity as a solution to tight rental markets, an ageing population and metropolitan land shortages, thanks to more relaxed legislation in some parts of Australia....Continue reading

19.01.2022 How to pay your credit card off completely this year. Are you growing increasingly concerned about your credit card balance? Do you feel like you keep making the repayments but the total never goes down? It probably doesn't. Credit card debt is very bad debt and it has a way of reproducing itself faster than a pair of rabbits.... So how can you get your credit card paid off by the end of the year? Mark managed to pay off a $7k credit card balance in one year, just by making a few smart decisions with his budget. Decision number 1: Cancel the Pay TV. Mark was paying $79 per month for subscription TV. He didn't really watch it very much because he was working long hours. Saving: $948 Decision number 2: No more morning Cappuccino. Mark's boss had recently installed a great coffee machine in the office, so he decided not to get a $4 coffee on his way to work every day. Saving: $1040 Decision number 3: Ride to work. Mark had purchased a new bike last year, and he was really keen to get fit. An easy 20 minute ride to work every day saved him paying for train tickets. Saving: $3000 Decision number 4: Cancel the Gym membership. Mark had made only two guest appearances at his gym this month, and he felt it was a waste of money now that he was riding to work. Saving: $1200 Decision number 5: No beer on weeknights. Mark was enjoying his new fitness regime and he decided that he would try to only drink beer on the weekends. He stopped buying a 6 pack 2 nights a week. Saving: 1456 Mark's story shows just how easy it is to pay off your credit card debt by making a few small changes to your lifestyle. But the first step is to stop spending on the card. If you can stop growing the debt, you can then start working on bringing it down, one coffee at a time!

19.01.2022 You're 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, you've probably bought a home before. I'm helping people buy their home every day, it's 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 don't 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 doesn't 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.

19.01.2022 Switching home loans could help pay down your mortgage sooner, providing you are refinancing for the right reasons and understand whats involved. Heres our guide to refinancing to help you make the right move when the time comes. Know the costs: Paying 0.5 per cent less per annum on a $250,000 principal-and-interest mortgage could save you around $23,000 over the life of a 25-year loan. Thats a sizeable chunk of change back in your pocket over the long term, but there are ...Continue reading

17.01.2022 How to make sure your next home isn't a money pit. The typical home purchaser spends around 90 hours over 6 months browsing the internet, researching websites, visiting real estate agencies and inspecting no less than a dozen properties. However we only spend a little more than one hour inspecting the home we eventually purchase.... Not surprisingly, 55% of us discover 'hidden problems' after the settlement. Please read this article on how to avoid problems before finalising the purchase of your next home - Biggest Investment. https://www.mortgageaustralia.com.au//biggestinvestment.pdf

17.01.2022 How to avoid getting stuck in the borrower's 'land of confusion': Comparing the true cost of a loan can be a lot more complicated than it seems. Comparison Rates are one way of comparing loans, but it doesn't always provide a complete picture of the total cost of the loan.... Make a mistake and you could pay thousands more in interest than you should. To avoid this, have a look at this short guide - "Land of Confusion". https://www.mortgageaustralia.com.au///landofconfusion.pdf

17.01.2022 Introducing the new home building methods that can save you a lot of time and money. In the past, prefabricated houses would connote images of tackiness and shipping container living, but prefab housing is now enjoying an avant-garde revival. Today's prefab houses consist of high end materials, follow strict green building practices and are designed by leading architects. Often they have substantially better thermal ratings than brick homes, meaning they actually cost a lot l...ess to heat and cool. Some new builders even start with a traditionally built lower floor, then build a prefabricated second floor, being less expensive and much faster than building a standard two-storey home. To find out more, download my short introductory PDF article to this style of home that is growing in popularity - Absolutely Prefabulous. https://www.mortgageaustralia.com.au//absolutelyprefabulou

15.01.2022 Should you buy or build your next home? Many buyers struggling to find the right home are going back to the drawing board and building rather than buying an existing home. There are obvious benefits to a brand new home: you can build exactly what you want and enjoy shiny new surrounds, with no wear and tear costs for years to come. But there can be downsides to creating your castle....Continue reading

15.01.2022 Summer is almost here so it's the perfect time to give your finances a spring clean. Whether you're looking to consolidate credit card debt, renovate your home or purchase your new car, our team can help give your finances a spring clean. Our partners offer a fast, simple, online application process and access to funds typically within 48 hours. Dont delay, get in touch today!

10.01.2022 With fewer first buyers taking out home loans than a decade ago12, one might have concerns for the future of the Great Australian Dream. While affordability is squeezing high-demand capitals, such as Sydney and Melbourne, interest rates remain at record lows, continuing to give astute first-time buyers opportunities to purchase their piece of the property pie. Just because you cant afford what or where you want to buy first up, doesnt mean you should forego property altoget...Continue reading

10.01.2022 Your Perfect Match - How to find a loan that keeps you warm at night. Do you find that you're 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, it's 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 doesn't have a lot of fees. What you see is what you get. Usually you get a low interest rate, but you don't 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 don't 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. Don't be fooled though - this is not a free ride. Most lender still require you to save a 3% deposit to cover the LMI, and you'll 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.

08.01.2022 Discover how to turn your home equity into a better retirement for you. If you have equity stored away in your home, now could be the perfect time to tap into it for an investment property. Equity is simply the difference between the value of your home and what you owe on it. If you have a property valued at $500,000 and owe $200,000 on it, you have $300,000 equity available....Continue reading

08.01.2022 We have all heard of credit reporting, but have you heard of credit scoring? Your credit file is one of your most important financial assets. Safeguarding this file is an important part of the finance application process. Your credit file contains... - credit applications - overdue credit accounts - payment defaults - clearouts (as a missing debtor) - commercial credit information - public record information. You will have a credit score calculated from your credit file. Did you know that a score of less than 500 will severely affect your ability to gain finance from many lenders? Read our one page guide - "Keeping Score" - to find out more. https://www.mortgageaustralia.com.au//fil/keepingscore.pdf

07.01.2022 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

07.01.2022 When buying a home doing things in a certain order can make it a lot less stressful. I hope my one-page Step by Step Guide to Buying a Home has some tips that may help when buying your next home. https://www.mortgageaustralia.com.au//astepbystepguidetobu

06.01.2022 Buying or selling - or even just thinking about it? We may not have met in person yet, but I thought you would appreciate knowing that I'm always quoting and arranging home loans for people across our suburb. If you are even remotely thinking about buying or selling, or you are just not sure what your home is worth and how much you can borrow, why not ask me to help you work it out? That way you will know exactly what you can do...and it doesn't cost anything either!... I have access to home loans for just about everyone and every situation so please try me out. It usually only takes a few minutes and the privacy act ensures our conversation is entirely confidential. A cuppa and a chat It could be as simple as that.

05.01.2022 If you really want to save money - it might be time to refinance. Should you refinance? "My lender is charging me a higher home loan rate than I see advertised elsewhere. Can I change lenders?"... This is exactly the reason why most people change lenders. There may be a penalty clause in your current home loan, meaning you may need to pay a discharge fee, but it could still be in your financial interests to change. When shopping around it is always important to look for the comparison rate of a product. A comparison rate is essentially the true rate, taking into account the fees and charges you will pay on the loan. So even though you see a lower rate it doesn't mean the repayments are less. "I have just come off a 'honeymoon' interest rate to a much higher rate. Can I move lenders or am I locked into my mortgage?" You can walk away from most mortgages, although penalty fees sometimes apply to fixed rate loans. "If I move my mortgage to a new lender, is there anything stopping that lender from increasing their rates in a few months time?" It depends what kind of product you have. If you're concerned about rising rates, perhaps you should consider a fixed rate home loan, where repayments are fixed for a period from 1 to 5 years. "Why do some lenders charge more than others for lending the same amount of money?" Banks and other lenders pay different amounts for the money they on-lend to you, they have different overhead structures and different profit expectations. All these factors affect how much they charge to lend people money. "What documentation do I need to refinance?" The last 3 - 6 months of mortgage statements is sufficient to begin this process. I can advise on other documentation.

04.01.2022 Six Steps to becoming mortgage-free - Step 2: Change your frequency... Do you wish there was a way to own your home sooner - without a mortgage? Do you often wonder what it would be like to worry less about your repayments, and more about planning your next holiday? What if there was a way to reduce the length of your loan, without making huge financial sacrifices?... Well, the good news is that there are six steps you can implement today that will make a huge difference to the time it takes you to pay off your loan. Last week we discussed the importance of shopping around to make sure you have the best loan in the first place. A small saving now could translate to enormous financial and time savings over the life of your loan. Today there is another simple step that can really make a difference to the amount of interest you pay on your loan. And it's as simple as changing the channel on your TV. (Well, almost!) Change your repayment frequency. Lenders calculate the interest on your loan daily. So even though your repayments might be made on a monthly basis, your interest is accruing all the time - even while you sleep. By changing your repayments to come out fortnightly, you'll pay your loan off faster. You will also reduce the total amount that you pay on your loan. This could mean reaching your financial goals a little sooner, and having more money in your pocket at the end of the day. Stay tuned for your next step to becoming mortgage free!

03.01.2022 Six Steps to becoming mortgage-free - Step 4: Offsets and Redraws Would you like to cut your mortgage by years and pay less? What if you could get your mortgage all wrapped up in record time, and spend more time doing the things you love?... Well, there are six steps you can take now, which will make a real difference to the time it takes to pay off your loan. You could be mortgage-free sooner than you think. In the past weeks, we looked at Step 1: choosing the best loan, Step 2: changing your repayment frequency, and Step 3: Pay more to pay early. Today, find out how offset accounts and redraw facilities can help you move quickly towards losing that mortgage forever. Step 4: Offsets and Redraws Do you have a savings account that you use to put money away for a rainy day? You might be surprised to learn that this can save you money on your home loan - even if you keep the money in savings. This is commonly referred to as an offset account. Many lenders offer a 100% offset account which, when linked with your mortgage, can dramatically reduce the interest that you pay on your loan. The reason for this, is that the savings 'offset' what you owe, and you're only charged interest on your loan amount - minus your savings. This can have a significant impact on your loan in the long term. For example, if you have a loan of $400k, and keep $30k in an offset account, you could save over $150k in interest over the life of your loan. Another handy mortgage feature to look out for is a redraw facility. This allows you to make extra repayments on your loan whenever you want, but gives you the flexibility of taking that additional money back in the future if your plans change. By taking advantage of offset accounts and redraw facilities, you can take control of your financial goals today, and pay your loan off sooner. Want to escape your mortgage as soon as possible? Stay tuned for Step 5: Don't take candy from strangers.

03.01.2022 Mortgage traps ahead! - Don't fall in. Do you love a bargain? It can feel like such a victory when you find that special deal on a new TV, or when you save a bundle by doing your Christmas shopping during a toy sale. Unfortunately, this sort of approach to looking for a mortgage can easily land you in hot water. Whilst it always pays to look around for a good deal on a home loan - there's also an old saying: "If it sounds too good to be true, it probably is".... There are a few fatal traps when it comes to choosing the right loan for you. Unfortunately the excitement of buying your first home can be all too distracting, and it's easy to put your foot in it by failing to research your loan options. Irresistible Offers The majority of lenders are very responsible and cautious, and only give out loans to people likely to make their repayments. These lenders will offer the best deals their desired customer - usually someone who earns a good income, has a clean credit history report, and has a decent deposit to contribute. If you know that your circumstances don't make you particularly appealing to a lender, but you're being offered a crazy deal - there might be something amiss. Take some time to read the fine print and make sure that the loan contract doesn't contain any nasty surprises. Remember - there's no such thing as a free lunch! Fixed rates You might be tempted to lock in a low interest rate for a couple of years so that you can have the peace of mind that comes with knowing your repayments. The danger here, though, is that you might be missing out on features that you need, or being charged additional fees. Make sure that you research all aspects of the loan, rather than just focussing on the interest rate. Fees and Charges Loan contracts can be very detailed - packed full of confusing words and legal disclaimers. But one section that you should study with a magnifying glass is the schedule of fees and charges. Do you know whether you can make changes to your repayments? How much will it cost if you default on a repayment? What is the fee associated with ordering a statement ahead of time? And importantly - what establishment fees will you have to pay at settlement? If you don't know this amount, you might not be able to proceed with your purchase and you could lose your deposit. Flexibility and Features It's important to consider what features you need in a loan - do you want to be able to make extra repayments when times are good? Would you like to be able to take that money back again if something doesn't go according to plan? What about if you want to change your repayment frequency? The features of your loan are just as important as the interest rate - and not paying attention could mean that you end up paying a lot more in the long term.

01.01.2022 Avoid trouble when the bubble bursts - 5 ways to spot a housing bubble. Purchasing a property is a major financial commitment, and hopefully a great investment that will serve you well. Unfortunately though, many purchasers don't recognise the warning signs, and make this great leap in the middle of a 'bubble' - when housing prices are suddenly inflated. What happens next can be a devastating blow - the bubble bursts and your property is now worth less than what you paid fo...r it. Don't let this happen to you - look out for these 5 ways to spot a housing bubble... Housing prices have increased rapidly If prices in your area have climbed by 20% in the past few months, there might be other factors at play. Beware of sudden increases to property values, and try to find out who is paying more. In the past, Government incentives such as enormous 'first home buyer' grants have caused property values to rise with speed. When the schemes come to an end, the market will adjust itself accordingly, and many new purchasers can be caught unaware. Affordability Figures are low If housing affordability figures indicate that median house prices have become unaffordable for the average Australian, chances are that they will settle back down again at some stage. Interest Rates threatened to increase When interest rates are low, property sales figures are often very strong. Unfortunately once interest rates begin to rise again, property prices and selling rates will drop accordingly. Relaxed lending criteria Lenders tend to adopt stricter lending criteria during tough economic times. During the Global Financial crisis, many lenders required a 20% deposit on all new loans. When loans are being awarded freely, and lenders are advertising 95% finance or more, there is often trouble on the way. Delinquencies The United States was heavily impacted by the GFC, and the first sign of trouble was a higher rate of delinquencies. Freely available loans and very long mortgages contributed to a situation where finance was given to many purchasers who could not afford to service their loan. Look out for a high rate of delinquencies which could signal that the bubble is almost ready to burst.