Sonny Galindo Mortgage Consultant at Direct Mortgages in Hoppers Crossing, Victoria | Loan service

Sonny Galindo Mortgage Consultant at Direct Mortgages

Locality: Hoppers Crossing, Victoria

Phone: +61 431 025 369

Address: 275-277 Heaths Road 3029 Hoppers Crossing, VIC, Australia

Website: https://directmortgages.com.au/the-team/sonny

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25.01.2022 ***First Home Loan Deposit Scheme*** From Wednesday 1 July 2020, there will be another opportunity to access First Home Loan Deposit Scheme. The National Housing Finance and Investment Corporation (NHFIC) will be releasing another 10,000 Scheme places for the next financial year from 1 July 2020. To recap, potential buyers will be able to them buy their first home sooner with only a 5% deposit and no Lenders Mortgage Insurance. ... Conditions apply but if youre a first home buyer and would like to see if youre eligible, its a great incentive to definitely look into this scheme as itll save you thousands. Essential Points - Eligibility: Singles earning less than $125,000, couples less than $200,000 - Minimum Deposit Required: 5% - Property Price Cap: Dependent on region. VIC is $600,000 E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #broker #realestate #finance #homeloans #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine

25.01.2022 ****INTEREST RATES DROPS AGAIN***** Following an emergency meeting held this afternoon, the Reserve Bank of Australia (RBA) has stepped up the action its taking to support the domestic economy in response to the spreading impact of the COVID-19 pandemic. As of today, 19 March, the official cash rate has been slashed to a new record low of 0.25%. Given the circumstances, I believe all banks will pass on the full rate cut. But be that as it may, our economy is not looking go...od with the expected large number of people who will become unemployed. Even I have been hit with potential loss of income from our other business. Just one of many who will feel it in the next 12 months. But for those who still have a job and regular income, its great and will save in this world crisis. If youre looking at your loan and would like a review on whats available for you, happy to chat, so call. P: 0431 025 369 E: [email protected] #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #interestrates

24.01.2022 ****LENDER NEWS**** Are you a professional or working in the medical field? A lender has just released their latest fee saving promotion for purchases and refinancing home loans. For people in the medical field, they may borrow up to 95% of the property and the lender will wave the lenders mortgage insurance fee on all purchases and refinances, savings potentially $35,000 in fees on a $800,000 loan with no minimum income requirements (loan serviceability applies). For pro...fessionals, borrowing is up to 90% of the property. Its a great option if you are looking to buy or would like to refinance to save on rates and fees. Normally I wouldnt recommend refinancing above 80% because youll be charged mortgage insurance which does not make it feasible. But this is a great option if youre looking to save while also accessing their cashback offers of $3,000. Certain conditions apply so feel free to chat with me to see if you are eligible. E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine #medical #mortgageinsurance

23.01.2022 Hi all, For those who are with CommBank, CommBank is going one step further with helping their customers through this crazy time. They are refunding the interest on interest charged during a customers loan deferral option. While also refunding fees on credit cards. Good to see the big companies helping those in need.

22.01.2022 HAPPY FRIDAY July 2020 Property update Wow Melbourne is back at home again and it surely doesnt look like anything is going to change anytime soon....Continue reading

22.01.2022 Have you looked at your loan lately? When was the last time you looked at your interest rate? Interest rates have fallen considerably over the past year and lenders are fighting for your business. Refinancing your loan could potentially save you hundreds off your monthly repayment and in this day of age when everything is going up, make your biggest expense go down. Having a look and doing a quick review is all it takes and we compare your home loans side by side a...nd demonstrate the saving over the lifetime of the loan. Why not call? Order yours today. #Mortgage #RealEstate #Property #MortgageBroker #Home #Money #HomeLoans #NewHome #Broker #FirstHomeBuyer #OpenHouse #Lending #melbourneproperty #firsthome #investment #propertyinvesting #investors #finance #investment

21.01.2022 ***LENDER NEWS**** First home buyers are having a win in these day. Bank of Melbourne are now offering first home buyers with a 15% deposit, a mortgage insurance offer of just $1, potentially saving you thousands. Matched with competitive products and if youre waiting to save that big 20% deposit than this offer is your ticket to having your home sooner.... T&Cs apply so feel free to contact me with any questions. Also remember that there are limited spots available for the First Home Loan Deposit Scheme so best to plan and apply to see if you are eligible. E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine

21.01.2022 https://www.facebook.com/363623854300/posts/10158658489109301/?sfnsn=mo&d=n&vh=e

20.01.2022 RENT V MORTGAGE - Are you still renting? Aussie has released its Buy vs Rent Report, in partnership with CoreLogic, which has analysed the suburbs across Australia where mortgage repayments are cheaper than rental payments. The report found that when buying a house under a three-year fixed rate scenario, over half or 52.2 per cent of Australian suburbs were cheaper to pay down a mortgage than pay rent on a house, which is up from 39.9 per cent last year.... According to the report from CoreLogic, this growing trend of home loan borrowers paying less in their mortgage repayments than rent has been attributed to record-low mortgage rates, combined with a slightly weaker property market. James Symond said: Our research confirms that in many suburbs across Australia, especially those outside the major capital cities, on a monthly basis, it is cheaper to buy than rent. Why pay your landlord, when you could potentially pay the same amount or less monthly on a place you can call your own? https://www.mortgagebusiness.com.au//15116-loan-repayments

20.01.2022 Deposit Bonds. A deposit solution for that property you love Got equity tied up in a property and need a pay a deposit on a purchase? A deposit bond just might be your solution. A deposit bond is an insurance policy that acts as a guarantee to the vendor that the purchaser will pay the deposit at settlement. Instead of paying cash, a person takes out the bond and is responsible for paying the deposit amount and 100% of the purchase price at settlement. A bond can be very ...handy and one that can secure you that property you love. Feel free to contact me if youd like to discuss further. Sonny E:[email protected] P: 0431 025 369

19.01.2022 Wow...plans to ditch stamp duty. I like the sounds of that. Imagine not having to come up with that extra $30,000 or more upfront. Fingers cross this comes true.

19.01.2022 SHOP AROUND The government wants you to not accept your lender and shop around. Treasurer Josh Frydenberg has urged Australians to shop around, as the big four banks reveal they will not pass the interest rate cut on in full. With rates dropping homeowners paying more than 3% interest on their home loan can secure up to a massive savings. So when was the last time you looked at your loan?... With six RBA rate cuts since June 2019 and lenders offering rates at less than 2% with cashback offers up to $4,000, it's never been so appealing to see what's around. To see your potential savings and get to a better deal on your mortgage contact us let's have a 5 minute chat. E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine #brokerderrimut #refinance #interestrates

15.01.2022 Australias in recession, what does that mean? After spending months in lockdown to curb the contagious Coronavirus, many countries have begun assessing the impacts on their economies and its clear that this has led some nations closer towards a recession. In Australia, a recession is often defined as two consecutive quarters (or six months) of contraction that is, a significant decline in economic activity. There are many factors that can cause a recession such as a cra...sh in financial markets, falling house prices and sales, a significant rise in interest rates, or a shocking black swan event (for example, a pandemic). In a recession, our country can experience: - decreased demand for goods and services as a result, fewer sales for companies leading to those businesses closing and potentially defaulting on their loans. TICK. Weve already seen store closures and reduced sales. - poor performance in financial markets. TICK. Massive market drop at the end of March. - an increase in unemployment and a decrease in wages growth. TICK. Unemployment has risen to 7.4% - Reserve Bank, reducing the cash rate to boost economy. TICK. Rates have dropped twice in March - tightened lending conditions from financial institutions as financial risks increase for businesses and consumers. TICK. Lenders have imposed further conditions on proving employment and continuity to income. So what can we do? Theres one common factor in the above, COVID-19. So the quicker Australia is COVID free, the sooner we can get our economy back on track. Unfortunately this will take time (especially here in VIC) to reduce the numbers and curb the selfish attitudes of the minority where their decisions affect all. Given the time factor, how you can help yourself is know your numbers, budget and if possible save. Now more than ever, its a great time sit back, look at what youve got and review your financial position and think of the what if. Help yourself while government assistance is still around. Just know it wont last forever. It will change one day, in the meantime, its up to you to take care of yourself and prepare for any forthcoming that may be detrimental to you and your family, Take care. Source: Colonial First State

15.01.2022 A good read on how to review your home loan. Its a very sensible and analytical way (although she is an economic reporter) of taking advantage of the low rates of fixed loans when reviewing your options. Have you looked at your options? E: [email protected]... P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine https://www.theage.com.au//why-i-ve-fixed-part-of-my-mortg

14.01.2022 HomeBuilder Grant - Q and A A few questions you might have in mind Can the HomeBuilder grant be used as a deposit? At this stage, lenders have not confirmed theyll accept this as a deposit due to lack of details from the government. Short answer is NO. So until further notice is provided, the HomeBuilder will just be considered as a bonus for building and can be provided after the construction has commenced. ... Can the HomeBuilder grant be used together with other grants? Yes you can! So together with the First Home Owners Grant, applicants can receive up to $35,000 (metro) and $45,000 (regional) to their new home. Are non-first home buyers eligible? Yes, as long you meet the eligible criteria. Also note, its only available to single or couples and excludes related parties to each other, ie siblings. What type of renovations or builds are granted? A comprehensive home building contract and off-the-plan home/new to build as your principal place of residence where the property value (house and land) does not exceed $750,000 (inclusive of GST). While renovation contract must be between $150,000 and $750,000, and properties must not be worth more than $1.5m. Government said it need not involve removal or replacement of foundations, external walls, interior supporting walls, floors, roof, or staircases. While also granny flats, swimming pools, tennis courts, outdoor spas and saunas, detached sheds or garages, and landscaping cannot be part of the upgrades. The HomeBuilder Grant is now ready for applications. For Victorians, to access the application click on the link below. The other states have also made their application available. https://www.firsthome.gov.au/homebuilder/vic/ Good news for VIC applicants, in light of the introduction of Stage 4 restrictions (effective from 5 August 2020), the State Revenue Office has provide a blanket extension of 3 months to the construction commencement requirement for the HomeBuilder Grant. This means that all applicants for the HomeBuilder Grant in Victoria have 6 months from the signing of the eligible HomeBuilder contract, to commence construction. Feel free to contact me if youd like to have a chat. E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #broker #realestate #finance #homeloans #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine

14.01.2022 For those looking for a new home, there are opportunities that have arised. New realestate.com.au data shows prices are on the way down and if prices drop 10 per cent the median house price in 30 Melbourne suburbs would dip below $600,000 the threshold for stamp duty exemptions for first-home buyers. With a 10 per cent drop a typical house could also become about $65,000 cheaper in Gembrook, Gladstone Park, Gowanbrae, Keilor Downs, Seabrook and Sunshine North, and $64,000 c...heaper in Caroline Springs, Derrimut, Hillside, Monbulk, Point Cook, Sunshine West and Wandin North. https://www.realestate.com.au//the-suburbs-covid19-could-/ Feel free to contact me if youd like to chat about a future purchase and discover your possibilities. E: sonny@directmortgages P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine

13.01.2022 Looking for a renovation to do? Here are realestate.com.aus top renovation VIC suburbs. Make sure you work those numbers correctly and have a healthy contingency fund. VICTORIA... 1. Frankston North 3200 (70 per cent) 2. Mount Dandenong 3767 (50 per cent) 3. Canterbury 3126 (47 per cent) 4. Ivanhoe East 3079 (45 per cent) 5. Doveton 3177 (44 per cent) 6. Cockatoo 3781 (43 per cent) 7. Upwey 3158 (43 per cent) 8. Albert Park 3206 (41 per cent) 9. Brooklyn 3012 (40 per cent) 10. Eumemmerring 3177 (39 per cent) E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine https://www.realestate.com.au//homebuilder-best-australi/

12.01.2022 HAPPY FRIYAY!!! How much deposit do I need? Its one of the most common questions I get asked as a broker and to tell you the truth, 10% is an adequate number. Yes, having less than 20% does incur mortgage insurance which you could pay an extra $10k - $15k, but it gets you in your property NOW and not in 1 of 2 years time when that property you saw for $600,000 is now $700,000. Start building equity is the best approach here.... The downturn in the market is now long gone with Melbourne experiencing a 12 month growth rate of 11.7% (RP Data) and since its peak, values are only down by 1.2% from the Oct 2017 levels. Awareness and education will get you into your house sooner as most Australians are unaware that you dont need a 20% deposit to be able to borrow. A study by Corelogic showed that 54% of buyers thought that you need a minimum of 20% to be able to buy. Not true and its that 1% to 10% deposit bracket is where most Australians can afford to save, within a reasonable time frame. For me, Id be happy to pay mortgage insurance than having to wait and save, where you could be chasing your tail as prices start to rise. Food for thought peoples. Happy to chat so please call. HAVE A GREAT WEEKEND E: [email protected] M: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment https://www.realestate.com.au//biggest-first-home-buyer-/

12.01.2022 WILL THEY OR WILL THEY NOT? There's much anticipation that the Reserve Bank will reduce interest rates tomorrow and I'm with them. We're finally getting on top of COVID and slowly starting the economic recovery. So we need all the help we can get to money flowing again.

12.01.2022 ****LENDER NEWS**** Westpac, ANZ and CommBank (believe NAB should follow soon) are further assisting people who have been affected by COVID19. The banks are now offering temporary 6 month to one-year Interest Only (IO) repayments without the need for a full assessment, to support their customers due to the broader impacts of Coronavirus. This is in addition or alternative to the loan repayment deferral packaged currently offered.... This process aims to assist customers who wish to proactively manage their cash flow during this period as an alternative to putting their repayments on hold. Times are tough and people are struggling so its good to know that banks are thinking about people and not just profit. Eventually itll get back to normal, just need to give it time. For further details, please contact your bank or give us a yell to see if I can help. Stay safe and have a good weekend. E: [email protected],au P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercarolinesprings #brokerburnside #brokerstalbans #brokertaylorslakes #brokerderrimut

11.01.2022 MONEY MONEY MONEY!!! As you may have heard today the government has announced their new initiative to help Australia get through this COVID period. From today, people who enter into building contracts and meet certain conditions are eligible for the $25,000 HomeBuilders grant. To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:... you are a natural person (not a company or trust); you are aged 18 years or older; you are an Australian citizen; you meet one of the following two income caps: $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or $200,000 per annum for a couple based on both 2018-19 tax returns or later; you enter into a building contract between 4 June 2020 and 31 December 2020 to either: build a new home as a principal place of residence, where the property value (house and land) does not exceed $750,000; or substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property (house and land) does not exceed $1.5 million; construction must commence within three months of the contract date. The grant is purely for owner occupier purposes so if youre building or renovating an investment, its not eligible. Given the requirements, I think people who intend to build will benefit most from today. First home buyers also get an added boost along with the FHOG of $10,000. Thats $35,000 in total. As for renovations, a minimum of $150,000 is quite significant project, which leave out those pergolas, decks, concreting and landscaping jobs. Happy days if youre looking to build. If you want to discuss your options, feel free to call. E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine For further details have a look at this Q&A. https://lookaside.fbsbx.com//HomeBuilder_Frequently_asked_

10.01.2022 HAPPY FRIDAY Mortgage v Super - where should I put my money? From crushing events like COVID-19 to wars of days ago, what this has taught/realise for a lot of people is the importance of financial security now and in the future.... As life goes on and fortunately we have surplus money in our account, where do you put it? Other than spending it, many would think, do I put it in super or pay off my home loan. To know the answer comes down to your personal circumstances and goals. To take an indepth look, it really comes down to comparing the growth of your super fund with the reduction of debt on your mortgage. At present, mathematically it makes more sense to invest in your super fund where super funds are returning 8%+ per year, while interest rates are at its lows of below 3%. So technically your money is earning you more in super than paying interest on your loan. However by law superannuation cannot be accessed until you retire and reach your preservation age of 55 to 60. So if youre 30, your funds will be locked away 30+ years. Then theres a matter of tax. Super earnings and pre-tax contributions are taxed at 15%, whereas most of your income above $35,000 is double that. Take example a homeowner with a mortgage around 3% and on a tax bracket of 32.5%, essentially the break-even point is around 4.4% for general investing in their personal name versus 3.63% making pre-tax contribution to super. Compared to funds in your home loan, its easy and guaranteed. It provides flexibility and access to your funds in case of an emergency. For example a young couple with capacity of an extra $1,000 a month, mathematically it would be more beneficial to put the funds in super. However, theyre young and down the track they plan to have a child, in this scenario it would be best to direct the funds into an offset account or redraw, which can be used at a later date. Your mortgage is the cheapest loan which gives you the flexibility to use it for a rainy day or any investment opportunity outside super. Just like property investing. The point is not to think one is better than the other but rather to engage your brain to plan and think how to utilise your funds to help you now and in the future. Mortgage vs Super is all dependent on your personal goals, and your current financial position, if possible, a combination of both is wise. As always, happy to chat so feel free to contact me. HAPPY A GREAT WEEKEND! E: sonny@directmortgages P: 0431 025 369 Source: AMP and Domain. Disclaimer: This is general information only. It should not be taken as constituting professional advice. #mortgagebrokercarolinespring #property #melbourneproperty #firsthome #investment #brokerderrimut #brokeryarraville #propertyinvesting #investors #realestate #finance #homeloans #investment #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine

10.01.2022 ****INTEREST RATES DROP***** With the growing concern over coronavirus causing the ASX200 to fall over 10%, the Reserve Bank of Australia (RBA) has set the March cash rate to a low of 0.50%. Now the anticipation is whether lenders will pass on the full rate cut to its borrowers. ... In my eyes, I believe therell be a downturn in our economy as Coronoavirus spreads. China is a big player to the worlds markets (everything is MADE IN CHINA) and companies will start to feel the full brunt of this virus. As stated by AMPs economist The coronavirus outbreak coming on the back of the bushfires is likely to see the economy go backwards this quarter, which in turn is likely to push unemployment up further after the rise to 5.3% seen in January, But for home owners and with competition running hot in the mortgage market theres something to smile about. There could be some hefty savings made by reviewing what you have. If youre looking at your loan and would like a review on whats out there, happy to chat, so call. #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #interestrates

09.01.2022 A great incentive for people looking to build or even thinking of doing that renovation youve always wanted. Buyers of newly constructed homes whether homeowners or first home buyers will be offered grants of at least $20,000 to help shield the building industry from the coronavirus-induced economic slowdown. The government are still in talks on how this will work and well know the details later this week. Both existing home owners and first home buyers will be eli...gible for the program, which will focus on boosting demand for new homes. The program, expected to be uncapped, is likely to run from July. If youre thinking about purchasing then this grant could just persuade your to build a new home and help the construction industry. Have to give it to our government, with whats going on in world, our lawmakers are doing what they can to help Australians survive and hopefully at the end prosper with limited casualties. Glad I live in Australia. Feel free to call. E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine https://www.afr.com//new-home-buyers-to-get-cash-grants-20

09.01.2022 House prices are on the way up with Domaine expecting a Sydneys growth rate of 10%, Melbourne 8% and Brisbane 8% as well.

09.01.2022 somewhat HAPPY FRIDAY!!! Wow, what a week it has been for Australia and the world. Coronavirus is gripping the world, toilet paper (where are some?) mass infections, social distancing, banned group gatherings, industries about to go under while others are going through the roof. In a state where you might find it difficult financially, which I assume may be the case in a couple of months, what are your options if you find yourself in trouble?... Firstly, plan well ahead. Have a look at your savings, leave, available funds and the more importantly your daily expenses. An easy exercise if most of your expenses are paid by card, your bank will have a record of all your transactions. You should access this online and categories every transaction from bills, groceries, shopping, take out dining, etc so you know 100% where your funds are going. Believe me, most people have no clue how much they spend until they take a good look at it. After you know what youre spending, try a budget and stick to it! which is easier said than done. If you feel you need further help with mounting bills and repayments, first thing you need to do ask call your provider. Most companies have process and procedures in these cases and usually provide a relief program to ease the burden. Realising the possible stress, NAB, Westpac and ANZ have announced they are offering six-month loan holidays to mortgage customers. Call your bank for further details, but its good to see companies are coming together to help people who really need it. For those who have a job and can maintain it, its actually a good time for you with rates just dropping again, interest rates are seriously low. My advice, maintain those regular repayments and pay down that loan. Its scary times ahead and it will no doubt get worse before it gets better, but hang in there, plan ahead if s#!t hits the fan and stay healthy. Happy to chat if you want to talk and have a Corona beer on me. You got to have a little fun! HAVE A GREAT AND VIRUS FREE WEEKEND! #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment

09.01.2022 VIC Business Support Fund For Victorian businesses that have been affected by COVID-19, remember theres a $5,000 grant available for eligible participants. You have 20 days left to apply. Lets hope we can all get out of this rut sooner, rather than later.... https://www.business.vic.gov.au//bus/business-support-fund

08.01.2022 Have you looked at your interest only loan lately? Best to review and think ahead. With the news of many interest only loans expiring soon reverting to principal and interest repayments, the change could have a significant impact on your daily cashflow and can ruin future plans. Many lenders these days might not make it so easy to extend your interest only repayments period so best to have a well thought out plan to tackle what can come ahead. ... Happy to chat, review and work out a plan to ensure that there are no surprises. #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investmentproperty #interestonly https://www.domain.com.au//thousands-of-australians-face/

08.01.2022 INTEREST RATES WILL STAY LOW FOR AT LEAST 3 YEARS. RBA governor Philip Lowe has revealed that the central bank does not expect to increase the official cash rate for "at least three years", or at least until there is a lower rate of unemployment and a return to a "tight" labour market. This is the expected timeframe where we might see the economy recovery with job growth being the main factor. ... "This lower cost of finance for everybody is supporting the recovery from the pandemic" On the flip side, it's great for borrowers, rates are at all time lows and the cost of money has never been so cheap. Could we see it go lower, possibly yes, but I truly don't see it going up. That's a thumbs up from me . https://www.mortgagebusiness.com.au//15105-cash-rate-not-e

08.01.2022 Coronavirus bank loan repayment deferral guidance Borrowers are now reaching the 6-month mark from when theyve requested a repayment pause on their Home Loan in response to the pandemic. Lenders have started contacting customers to discuss the next step. Most will have received a letter informing them that their 6-month repayment pause is due to end soon, followed up by a phone call. At the peak of deferras, around one-in-10 home loan customers had been allowed by their ba...nk to stop making repayments without going into default, and most of those customers indeed stopped paying. But the repayment holidays cant last forever. So what happens after when the 6 months? For those who are financially able to resume making full repayments, this should hopefully be straightforward. You also have options to minimise cost such as switching to interest only repayments, consolidating debt, refinancing or negotiating to a lower rate with your lender. What if I still cant afford to pay? The banking sector has committed to a further four-month deferral for those still in severe hardship at the end of September. This is to be arranged with a detailed discussion with your lender to discuss further options. Were here to help so if youd like to explore some of the above options before your lender contacts you then please feel free to get in touch. E: sonny@directmortgages P: 0431 025 369

07.01.2022 ****INTEREST RATES DROP***** The Reserve Bank of Australia (RBA) has cut the nation's official cash rate from 0.25% to a new record low of 0.10%, reducing it by 0.15%. To boost the economy the RBA is now pretty much out of ammunition in terms of using the cash rate as a tool in its COVID-19 recovery arsenal. Now the question is how much of that 0.15% will get passed onto borrowers. My bet probably 0.10%. But lenders will focus their efforts primarily on becoming "ultr...a-competitive" with rates in a bid to win new borrowers to their brands. To see what you can get with your loan, feel free to contact us and lets see what we can do. E: [email protected] P: 0431 025369 W: https://directmortgages.com.au/the-team/sonny/ #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine #cashback #refinance #interestrates

07.01.2022 Rise of the First Home Buyers - Tips to get in Housing market sentiment is on the rise among young first home buyers (FHBs) who are eager to sniff out COVID deals. FHBs are hoping to see bargain properties cropping up for sale if the economy continues to worsen and with prices taking a backward step over the last couple of months, opportunities will arise. Few helpful hints to get you in your first home.... 1. Start building up that deposit. Most buyers will start with a regular savings amount, which is great. Lenders like to see a good consistent amount saved, this shows discipline and commitment to the purchase and future loan. Also, there maybe times where you might receive a gift from parents or a sale of an asset to boost your deposit. Lenders view these differently so its best to plan for these contributors. A good deposit of 10% is a great start. 2. Check your credit rating and any black marks you may or may not know. This is an easy one. Free reports are available online. I use Equifax (https://www.equifax.com.au//p/credit-and-identity-products), which shows you in detail your credit history good or bad. These reports are crucial as it plays an important part of an application, so best find out before the bank does. 3. Sort out your debt (car/personal loans). Having an existing loan will have a big impact on borrowing capacity. A repayment of $400 per month, could mean a difference of $100,000 in your borrowing capacity. 4. Keep an eye on your expenses. Lenders are scrutinising expenses more than ever and will ask questions on your spending habit, so best have them in check. 5. Find out those government incentives. There are a number of benefits available for first home buyers which are the First Home Owner Grant, Stamp duty concessions, First Home Super Saver Scheme and the Home Builder Grant. All up a first home buyer could get an additional $35,000 for their first home. 6. Know your market. Get out there and do your research. Get familiar with comparable homes that have been sold, research that suburb and price trend and history. This is about being realistic about your budget and know how much to spend. 7. Get expert help. There are professionals who can help you with every step of the home buying process. Buyers agents can help you with the whole buying process, while a mortgage broker can navigate the loan market if you cant. Make sure you have a licensed conveyancer look over your contract thoroughly. In summary its all about getting prepared for one of the biggest purchases youll make in your life. Happy to chat so feel free to give me a call. E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #broker #realestate #finance #homeloans #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine #firsthomebuyer #deposit

06.01.2022 Househunters are making the most of buyers market conditions by negotiating discounts worth tens of thousands of dollars across the city. In negotiating a bargain, buyers should find examples of lower local sales and have a back-up property on hand as leverage. When making an offer, he advised adding a time limit and making sure the first bid wasnt too low.... In these times, vendors are going to be more motivated (so) there are opportunities out there for buyers. Happy hunting #brokercarolinesprings #brokerburnside #brokertaylorslakes #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment https://www.realestate.com.au//melbourne-suburbs-where-h/

05.01.2022 Big banks moving in on the Buy Now Pay Later industry. Over the past couple of years companies such as Afterpay and Zip have seen dramatic growth in the BNPL sector appealing to the younger generation. Now NAB and CommBank have released with new interest free credit card, which can be very tempting to some. With all products, its best to look at the fine print and compare. So lets compare.... With Afterpay, you pay no interest and have up to 8 weeks to repay in four instalments. Failure to do so will incur a $10 late fee. NABs StraightUp card, also has 0% interest on purchases, but charges $10 a month on balances up to $1,000. Lets look at 2 cuomsters, Brad and Angelina purchase a stereo for $1,000. Brad uses AfterPay and Angelina uses NABs StraightUp card. Both are good with debt and pay loan within 8 weeks. Looking at what each would pay Brad being with Aferpay, pays nothing, while Angelina taking two months to pay it off, will have to pay the monthly fee of $20 in total. With NAB and having a longer timeframe, if Angelina took a year to pay the debt, she would need to pay NAB $120 (12 months $10 monthly fee). This would equate to similar paying 12% in interest to use the facility. So take home here is it definitely pays to look at what youre paying as a whole and dont get caught up with all the bells and whistle that may not be as good as you first thought. Food for thought #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine

04.01.2022 NSW to abolish stamp duty of new homes under $800,000. The NSW state government has abolished stamp duty for new homes under $800,000, in a bid to support first home buyers and the construction industry. Premier Gladys Berejiklian has announced that the government will temporarily axe stamp duty on newly built homes valued at under $800,000, from 1 August.... There will also be concessions available for new homes under $1 million in value (up from the previous limit of $800,00). COVID-19 has affected everything and government is trying to do what they can do to help. With NSW changing their rules I think VIC may follow suit. Lets hope. https://www.theadviser.com.au//40610-nsw-abolishes-stamp-d

04.01.2022 Dont mind this that all. Itll also keep competition fierce among lenders. Who doesnt want that. https://www.news.com.au///cbe41ff1b8d484690f612727a01a3f9e

04.01.2022 HAPPY FRIDAY!! HOME DEPOSITS - So youve finally got your deposit, but the more important question is, how did you get it? These days most lenders would like to see a borrower have a 10% deposit. The next questions lenders asked, Great, how did you get it? If youre borrowing more than 90% of the propertys value, lenders would like to see a minimum of 5% saved as what lenders call genuine savings.... Genuine savings are saving accounts, term deposits and/or shares held and accumulated over a minimum period of 3 months. So how does that affect you? Having a 3 month timeframe may mean that land youve seen or auction youd like to attend next month, means that your loan will not be ready and therefore miss out. Also, the inheritance or gift youve received from your parents or sale of assets does not qualify as genuine savings and therefore make you ineligible. You also need to pay special attention to your savings account. Its great that you have this special account but lenders like to see your balance increasing, not transacting money in and out, which I see quite often. If you can show evidence of being able to budget and put aside funds in the lead up to the application stage, then it will act as an indication of how you will behave financially when you are tied to a loan. What lenders tend to like is someone who is sensible with their savings pattern. What if thats you and have no genuine savings? There are certain conditions that help, such as if you rent, and luckily, there are some lenders that offer non genuine savings loan if you can meet their standard lending criteria. All in all its all about careful planning and like the criteria above, making plans to purchase 3 to 6 month out is a good timeframe to get you ready. The better the plan, the better your chances. HAVE A GREAT WEEKEND!!! E: [email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #brokercaolinesprings #brokerstalbans #brokerdeerpark #brokertaylorslakes #brokerburnside #brokerhillside #brokersunshine

03.01.2022 With sellers looking to sell quickly, were seeing some big discounts on offer. Had someone put an offer in $100k - $150k less than it was at the start of the year, where the seller accepted. You just never know. Nows a time, where if youve got your finance in order and got your job and no risk of loss, theres some bargain to be had out there. Happy hunting!!... #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment https://www.realestate.com.au//australias-most-discounte/

03.01.2022 Have you withdrawn money from super? For those who are thinking or have taking money out of super out for a deposit on a house, the decision may backfire. I heard many stories of people getting declined from lenders from people using funds from super withdrawals. It raises further questions for the bank on an applicants current financial situation.... "The banks are also worried if youre withdrawing super they have been really tough when thats happened" In some cases, people have made false declarations on whether or not they have been affected by the COVID-19 crisis, he claimed. Youre saying you havent been affected by COVID but when they see your statements and your withdrawal from super, its contradictory. So think carefully when applying for a loan using superannuation money. It maybe possibly go get this through but it all depends on the lender and how you sell it to them. https://www.domain.com.au//first-home-buyers-withdrawing/

02.01.2022 VICTORIA'S 2020/21 BUDGET Victoria’s Big Housing Build has been estimated to provide thousands of Victorians the long awaited security and stability of access to a home. The Victorian government has committed $678 million to making housing more affordable and accessible to Victorians via the following initiatives; 1. Victorian Homebuyer Fund... 2. Land Tax discounts 3. Stamp duty waivers and concessions 4. Extension of regional First Home Owners Grant The big one I think is great is the Stamp duty waivers and concessions. Melbourne home buyers with a budget of less than $1 million are set to be the biggest winners out of a Victorian budget that has pledged to slash stamp duty fees, saving house hunters tens of thousands of dollars and allowing them to buy a property sooner. Stamp duty would be cut for home sales under $1 million only at a rate of 50 per cent for new build homes and 25 per cent for existing properties, from 25/11 until the end of June 2021. The discounts were designed to stimulate Victoria’s housing market. How good is that! Feel free to give us a yell if you have any questions.

01.01.2022 Landlords vs Tenants Why its become a battlefield. As Australia gapples with the Coronavirus health crisis, its the economic factor that hitting most people. Industries have gone under, thousands have lost their jobs or substantially reduced their incomes and many of these people rent who now dont have the means to pay. This has forced them to ask their landlord to reduce or even exempt them to paying rent for the foreseeable future. But these landlords, mostly of mums and... dads investors need that rent to pay for a mortgage, assist with their daily living and/or may have just might also have been financially affected with their loss of job or reduction in income as well. The government has made a number of benefits available for the public such as the NewStart Allowance and Jobseeker package which can provide some relief, but is it enough? The guys at PICA (Property Investor Council of Australia) have a detailed analysis of the situation and advise property investors not forgo any rental payments during this period and give some compelling arguments as to why. Please have a read below. My thoughts, both parties need to work together through this pandemic and come to a solution where everyone is happy. For one, good tenants are hard to find and kicking someone out during hardship might see your property be vacant for quite sometime or rented again at a much lower rate. While renters who choose not to pay their rent may find themselves on the blacklist which will affect future tenant applications. I believe the government may step in here and provide a solution which helps both parties but as to when, who knows and just how much do they have left in their kitty. #mortgagebroker #property #melbourneproperty #firsthome #investment #broker #propertyinvesting #investors #realestate #finance #homeloans #investment #deferral # https://pica.asn.au/pica-residential-tenancy-management-c/

01.01.2022 ****LENDER NEWS***** For CommBank customers, just in case you were not aware Commonwealth Bank (CBA) will be automatically reducing direct debit repayment amounts for all variable principal and interest (P&I) home loans to their minimum repayment required. The change, which will come into effect from next Friday 1st May and was made given the current uncertainty surrounding coronavirus and as part of the banks steps to continue providing the financial support home loan cu...stomers need. If you wish to opt out of the minimum repayments and retain or change your current repayments, you will be required to change your direct debit repayments via the CommBank app or NetBank from 6th May. If you like to chat or ask any questions, please feel free to contact me. E:[email protected] P: 0431 025 369 #mortgagebroker #property #melbourneproperty #firsthome #broker #propertyinvesting #investors #realestate #finance #homeloans #investment