Stuart Smith | Mortgage brokers

Stuart Smith

Phone: +61 417 919 094

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24.01.2022 RBA confirms what we already know...

23.01.2022 Interesting article trashing the governments new scheme for first home buyers that kicked off on Jan 1st , saying it will unnaturally bring forward demand, and therefore drive up prices, on average more than the benefit received". What are your thoughts? Do you think this will help or hurt first home buyers?

06.01.2022 Quote for today : Money isn’t the most important thing in life, but its right up there with oxygen - Zig Ziglar The Home Loan Files (Vol 2) Ok, so you’re busy with lifework, kids at school, trying to save for that family holiday etc and the home loan just gets paid as per usual and on we go. Wait a minutewhat rate did you say you were paying ? Not too sure ? Does it begin with a 3 ?? WHATTT it starts with a 5 !! Shriek !!... Real life mortgage situation: Sue & Mike have had a normal bank mortgage for yrs. Things are going ok but they really don’t pay much attention to the home loan. We all know rates are the lowest they’ve been in years so all goodright ? Hmmmmaybe not !! Details Home loan : $490 000 Current rate Bank Standard Variable Rate : 5.24% Rate applicable with different lender : 3.74% Rate Difference : 1.50% This means Sue & Mike are paying an extra $ 7 350 EVERY YEAR to the bank !! Does this sound like you ?? Even if your rate is, say, 4.60%. This would still be an extra $4 214 per annum that you are handing over to the bank no questions asked !! We refinanced Sue & Mike’s loan with a different lender at 3.74% p.a. which meant they could decide what to do with the savings. They chose to keep paying the same repayments as previously but now they could actually see their loan balance reducing plus that extra $7 350 p.a. was still available as a redraw if an emergency cropped up. Tell us your story maybe that family holiday is not as far away as you thought !!

05.01.2022 What is this sorcery?

01.01.2022 It’s like they don’t want to hand out the money or something...