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Style Finance Group

Phone: +61 1300 005 409

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25.01.2022 I've had a number of small businesses call me about the "up to $25,000" relief from the government... However, this is only relevant if you employ staff and pay... PAYG AND have your BAS/Instalment Activity statements up to date. You also only get up to 50% of the PAYG for March back with a maximum of $25k. So if you have a PAYG bill of $10k for March, you will get $5k relief. There needs to be more done for small business and sole traders.. ASBFEO calls on the government to support small business owners.. the government needs to listen! https://www.theadviser.com.au//40147-asbfeo-calls-on-pm-to

25.01.2022 Do you have a GAP in your finances...? Maybe a pesky shortfall in your mortgage that's holding up the sale of your property? We can help! GAP FINANCE is now available at VERY competitive rates with up to 7 year terms PLUS the ability to offer multiple loans up to $120k per household! If this sounds like it could be helpful for you - get in touch today ph.1300 005 409 or [email protected]... Fill that GAP & find your HAPPY

24.01.2022 HOMEBUILDER GRANT - Do you have the cashflow to fund it? Like a few others of the Government Grants, whilst they are welcomed, the way they are administered can be an issue for First Home Buyers.. The banks are not accepting the Home Builder Grant as part of funds to complete, so customers are asked to stump up the cash before they get refunded. $25k is a lot of money to find for anyone, let alone a First Home Buyer. Hopefully the finance & mortgage broking industry can lobby the Government to change the way it is administered .. so its like the First Home Owners Grant.. and the grant can truly help get the Construction Industry back on its feet and First Home Buyers can get their dream home! https://www.theadviser.com.au//40738-calls-mount-for-homeb

23.01.2022 Another happy couple who were able to take advantage of the First Home Loan Deposit Scheme. Mathew and Alyssa were one of the few who snapped up one of the last spaces on the government scheme for first home buyers this financial year. This saved them THOUSANDS in mortgage insurance. More spots for 1st July will be released in a couple of weeks. Call us to discuss if you are eligible and how you can save $$$$ too - Bernadine ph. 1300 005 409

23.01.2022 Victorian Home Builder Grants & Concessions - The rush to build and buy in the last month has been crazy .. it's like the toilet paper scene for the building industry and home buyer industry! And now with the $5.4 billion boost to home building that was delivered in the Victorian budget .. including concessions to STAMP DUTY this could be a solid boost to the economy. STAMP DUTY:... - 50% for residential homes valued at up to $1 million. It is for residential property contracts (new or off the plan) entered into from 25 November to 30 June 2021 - 25% waiver for established homes! For First Home Buyers, this is in addition to the normal stamp duty concessions that they would be eligible for - A first home buyer, purchasing an existing home worth $700,000 would be eligible for both the first home buyer duty concession and then the new 25 per cent waiver, totalling tax relief of some $18,500. - For First Home Buyer these grants would also coincide with the existing FHLDS (depending on spaces available) and the Home Builder Grant of $25,000 (as long as contract is entered into before 31/12) FIRST HOME OWNER GRANT: - For Regional Victoria this has been extended to $20,000 for contracts entered into before 30/5/2021 For more information: https://www.mortgagebusiness.com.au//15164-victoria-commit

23.01.2022 It's official! Record Low Cash Rate - RBA made the call and dropped the cash rate to just 0.10%! As we thought a few weeks ago.. the rate was going to drop. This is great news for FIXED RATE Home Loans who might want to lock some great rates. The RBA may be all out of moves to help stimulate the economy .. the rest may have to come from Fiscal and other measures. To get the full article.. https://www.mybusiness.com.au//7653-rba-makes-official-cas

23.01.2022 NOW IS A GREAT TIME TO BUY OR REFINANCE! APRA Announcement - Buffer Rate for mortgage assessments to stay put. The good news for home and investment buyers is that interest rates appear to be staying steady for some time to come... now could be a good time for you to buy. Contact us to discuss your requirements - we would love to help! https://www.stylefinance.com.au/contact/

22.01.2022 "Spreading the Pain" is the new catchphrase from Finance Minister, Mathias Cormann and PM Scott Morrison. In particular in relation to small business and landlords. What this will mean in reality for small business, in particular, those paying commercial rents is yet to be unveiled. However, it does appear that commercial tenants have some relief in terms of eviction which was not made clear on the reported news. The Government is encouraging both tenants and landlords to "...talk" and for landlords to pass on any benefits they receive from the banks or SRO on their mortgages. We have heard, from the many businesses that we support, that their rent/lease obligations, outside of wages, is one of the largest costs and is weighing heavily on their minds. Hopefully the package announced today is clear and beneficial to all.

22.01.2022 COVID-19 Mortgage Repayment Breaks - will my credit be impacted? Most banks are now offering repayment holidays for up to 6 months for those that have been impacted by COVID-19 .. which is most of us. So many people have asked us if their credit rating will deteriorate? As APRA has already suggested - banks need not treat repayment holidays as arrears and commentary from credit reporting agencies outline that hardship arrangements are typically not reported as defaults. You w...ill need to confirm this with your bank. They should be able to tell you if your mortgage loan qualifies for this. If you have a Line of Credit against your home, these do not necessarily qualify. HOWEVER, what is really important! You MUST agree this with your bank. DO NOT go into default and think it will not get reported and it will be okay. If you do not have a hardship agreement in place then you will risk being defaulted.

20.01.2022 Feeling very spoilt! What a lovely way to end the week! I love helping people .. it has given me so much joy during these times when we get a loan through for someone .. this is just a little bonus #feelinggrateful

20.01.2022 #dreamsdocometrue "I have always dreamt of owning my own home but have always thought that this was simply not a possibility for me. A friend of mine recommended that I contact Bernadine Geary advising that Bernadine would work through any road blocks that might come my way as I tried to navigate my way to actually getting a loan & ultimately purchasing my house. As a first home buyer with absolutely no commercial knowledge or experience on how or where to start, Bernadi...ne patiently took me through the process of understanding my limitations & how to improve my probability of getting a housing loan over time. Bernadine, comforted me when I thought that this task was just too impossible & continually persevered to find a lender that would accommodate my needs & specific situation. I have been so fortunate to have had such a caring person help me through this process, especially as I have been assured that many run of the mill brokers would have just given up. At the time that I was house hunting, the market was continually rising & the frustration that I had to endure due to me continually missing out on houses seemed endless. Despite these constant setbacks, Bernadine kept ensuring that my finance approval was available so when I ultimately had the opportunity to purchase, I could proceed with confidence. Without, Bernadine’s persistence & patience I would still be dreaming of that elusive house, whereas now I am a proud & excited home owner, in the process of moving into my house & looking forward to imputing my own personal touches. I am deeply appreciative to Bernadine for all the efforts that she has undertaken on my behalf & I have no hesitation in recommending others to use her as a broker when they are seeking finance." Congratulations Elizabeth! We are so happy for you and can not wait to see the personal touches that you add to your eagerly awaited First Dream Home! From Bernadine & the Style Finance team

18.01.2022 Home Builders Grant Extension & SME Loans Phase 2 -- everything you need to know! Check out our latest BREAKING NEWS email here: https://mailchi.mp//home-builder-grant-extension-sme-phase

18.01.2022 Feedback from another very happy client who encountered a few bumps in the road when dealing with their lender -- but it was nothing that Bernadine couldn't handle! "Thank you Bernadine, for your tireless effort in getting my home loan across the line. Its not often you find someone that goes above and beyond for you. Thank you again" Colin - July 2020 Thank-you for the kind words Colin. We wish you & your family every happiness in your beautiful new home!

18.01.2022 TO MOVE OR RENOVATE? Domain has an interesting article on whether you should use the HomeBuilder Scheme to renovate or move home. Whatever you are thinking, we can run through the benefits and finance available to help you achieve your dreams.. #makingdreamscometrue... https://www.domain.com.au//the-homebuilder-scheme-has-le/

17.01.2022 The latest Style Finance Newsletter has just hit your inbox Read it now to find out how you can get your hands on a $50 Coles or Woolworths Gift Card! Not a subscriber...? Click here: https://mailchi.mp//home-builder-time-to-move-lowest-low-d

16.01.2022 CORONAVIRUS SME GUARANTEE SCHEME - "Supporting the flow of credit" - DETAILS STARTING TO COME OUT.. IS IT REALLY WHAT IT'S CRACKED UP TO BE? Supporting the flow of credit is what the Government intended this scheme for. It was to enhance lenders' willingness and ability to provide credit. However details are starting to flow throw from lenders as to the criteria for application of the loans and although not all banks have released these, I have it from a couple of banks.... Details so far: - It will not apply to new to bank customers (well they say they will, but you have to be an amazing business to qualify) - If you are an existing customer you have to jump through hoops, including by the time it gets to application that all of your statutory obligations are up to date (including payments). ATO obligations are generally the first to go and deferring payment obligations is being looked upon favourably. - That you have had to negotiate with ALL other lenders first and defer or reduce your loans - That you have attempted or obtained a rent abatement first from your landlord - Then you have to justify and quantify what has happened - I would have thought that was rather obvious! - Also, what have you done to reduce expenses and reduce wages - wasn't this supposed to have saved people's jobs??? One bank had the audacity to say that they might provide the loan when COVID is over and businesses are starting to get back on their feet! Some of these businesses were really good little businesses who just had the carpet pulled from under their feet through no fault of their own. No defaults and paid all of their commitments on time. But their business has ceased. Could they build it back up again.. Yes! Will the banks assist during this hiatus .. it is looking highly unlikely. And is it unsecured?? Well if you have any equity in your property.. that will go first.. then unsecured if it is. I have written to Treasury asking for a list of all lenders that this scheme might apply to so that we find a lender who is willing to assist businesses. More detail on the scheme below: https://treasury.gov.au/coronavirus/sme-guarantee-scheme

16.01.2022 Government announces GROUND-BREAKING support for small business - to find out more check out our most recent newsletter. https://mailchi.mp//govt-announces-further-support-23032020 There is help out there for business owners! Call us if you would like some help refinancing or navigating your way through these troubling times - we are here & ready to support you & your business. Together we can get through this!... ph. 1300 005 409 or visit our website www.stylefinance.com.au. See more

14.01.2022 Victorian home buyers are the BIG WINNERS following the announcement of their State Budget for 2020-21. Read more in our latest blog.

13.01.2022 Melbourne - Record Auction Clearance Rates despite growing COVID concerns.. https://www.domain.com.au//melbourne-auctions-st-kilda-w/

13.01.2022 BREAKING NEWS! EXTENSION ON HOME BUILDER GRANTS - VICTORIA 3 month extension on Home Builder Grants in Victoria ..this means you will have up to 6 months to get your house built post 31/12/20. https://mailchi.mp//australian-homebuilder-grant-victoria-... #somerelief #homebuildergrantsvictoria #stylefinancegroup

13.01.2022 Will the rest of Australia follow NSW's lead in lifting the threshold for Stamp Duty for First Home Buyers? Stamp Duty is a substantial impost for First Home Buyers and lifting the threshold to $800,000 will be welcomed for those wanting to build or buy a new home.. This has to put pressure on the other states to follow suit..... https://www.theadviser.com.au//40610-nsw-abolishes-stamp-d

13.01.2022 What a way to bring a smile to our faces! Congratulations to Andrew & Joan who just purchased their first home together Where there is a will there is a way Very happy indeed

12.01.2022 CREDIT SCORES - COVID-19 PAYMENT DEFERRALS - WILL THIS BE YOUR ENEMY? What impact will deferrals of repayments have on your credit score? What we know, is the repayment history information makes up at least 30% of the impact of the credit score. This is why its ever so important that your repayments are made on time. Whilst there are is provisions for information not to be recorded during financial hardship, some lenders are not correctly following these procedures leading t...Continue reading

12.01.2022 Congrats to Tamy & family who have secured their new home just in time for Christmas! Seeing your smiling faces certainly fills us with joy this festive season. "Bernadine is very professional and supportive. Throughout the whole process she made sure that we knew what was going on and happily answered any questions we threw her way (and there were a lot!) ... Bernadine was up front and realistic from the start, which ensured that we didn’t go in with false hope and that we had an idea of what we could achieve, or what we may need to work towards in the future. We are so thankful and wouldn’t be buying a home without her help!" Thanks so much for the review Tamy, we look forward to seeing your beautiful family grow over the years in your new family home

12.01.2022 Are you experiencing ongoing financial issues? Did you know that Australian banks have announced that they will support customers by extending mortgage repayment deferrals by another four months, where applicable? Find out more: https://www.stylefinance.com.au/banks-announce-mortgage-lo/ For support or advice on how this development could work in your favour CONTACT US today! https://www.stylefinance.com.au/contact/

11.01.2022 RECORD LOW Cash rate is now less than 1%, slashed to a record low of just 0.75%, coming just 16 days after the latest rate cut. But will the banks follow? Are you getting the best deal? Contact our experts for a non-obligation chat about your finances today! Ph.1300 005 409 or visit our website www.stylefinance.com.au.

10.01.2022 Are the Additional Grants enough? Some businesses are questioning will they ever get to open their doors and trade again.. some serious questions are being asked .. https://www.theadviser.com.au//40640-melbourne-businesses-

09.01.2022 Are you thinking of buying or building a new home? With a number of grants, schemes & concessions available NOW could be the perfect time! With as little as a 5% deposit a new home could be your reality but working out what you are entitled to can be tricky. Read our latest blog for more details!

09.01.2022 Victorian commercial tenancy legislation is still in draft form.. issues such as whether to allow businesses to terminate leases early due to financial hardship has not been included in the first draft. WA have done so in their draft, but has received strong opposition from this. Victorian MP, Fiona Patten is considering making these amendments.. I think it's a good idea for businesses who have been smashed from COVID-19 and have no chance of ever catching up with their lease obligations.. https://www.commercialrealestate.com.au//victorian-politi/

08.01.2022 Good news story of the day! Westpac is bringing back onshore customer service creating 1000 jobs for Aussies! Well done Westpac.. As a finance and mortgage broker, the frustration I face every day reaching overseas call centres (who are very polite but often find communication difficult) makes life very challenging. Job creation and customer satisfaction - two big ticks in my book! https://www.theadviser.com.au//40622-westpac-to-onshore-jo... #aussiejobcreation #banksleadingtheway See more

08.01.2022 Just for a bit of fun.. Do you think the prices of the houses on the block will hold up this year? I am so keen to see what unfolds this season.. https://www.domain.com.au//the-block-2020-how-will-the-h/

07.01.2022 Much needed relief for home loan mortgages and some business loans from Big 4 Banks.. details below. Call Bernadine if you would like further help or email [email protected] https://www.theadviser.com.au//40152-nab-to-freeze-repayme

06.01.2022 Some WELCOME NEWS!

06.01.2022 It's been an exciting morning at Style HQ! Bernadine was very proud to be on the panel for The Australian Banking Innovation Summit which was filmed earlier today. Watch this clip to find out more

06.01.2022 **SME GUARANTEE SCHEME.. A FLOP** Many businesses are struggling to obtain a loan through the SME Guarantee Scheme.. but it is across the board. Out of a planned $20billion of SME lending that the Government announced early this year, only $1.5billion and just 15,600 loans have been provided. The list and requirement from lenders has been overwhelming.. with the blame on the government as to the tight restrictions what it could be used for. All of this has led to some dis...illusioned and disgruntled business owners. What's the point of stating that there are $1m SME Guarantee loan if no one is actually writing $1m loans?? Most of the non bank lenders have dropped these loans and won't go over $250,000.. although I am yet to see one of the SME Guarantee loans written at this level. I agree with the NAB CEO Ross McEwan that we need to move away from support to stimulus to help kick start businesses again. Stimulus such as accelerating tax cuts and an extension and redesign of the Home Builder Scheme so that banks can include these funds in their home loan calculations will all be of assistance to getting the economy back on its feet. https://www.theadviser.com.au//40677-sme-guarantee-scheme-

05.01.2022 Whilst the HomeBuilder Grant has proved popular.. the lack of banks accepting it as part of Funds to Complete (due to no processes in place as it is with FHOG) have led to many reaching out to family and friends to help them out. It's a bit tough, when this grant was meant to help stimulate the economy.. https://www.theadviser.com.au//40772-borrowers-turn-to-ban

05.01.2022 ATO Crackdown! The ATO is cracking down on businesses that have done in their mind "the wrong thing" during COVID through their offerings of grants such as job keeper stating that they have identified $120m of payments that should not have been claimed. Now they are warning businesses about artificially creating environments to claim the instant asset write off or to take advantage of the carry back loss provision. At least this time it is a warning ahead of time.. What th...e ATO didn't make clear however, when the Government issued their grants back in March/April, is the detail and the consequences and then gave very little time to apply with outrageous cut off dates. Most businesses who had been trading well up until 23rd March could not know in truth what was going to happen to their business... for all we knew at that time, this was a little virus that would go away in a few weeks. Businesses panicked and claimed what they could, in fear of what COVID-19 would do to their business and dealt with the consequence later. Monthly reporting to the ATO on turnover did not adjust Job Keeper claims.. instead the ATO just kept paying. Should small business be penalised for this? Agree that those who have taken advantage when their business wasn't suffering at all, but for those that have suffered, a far more lenient view should be taken. It's the Bernadine opinion, that's all. https://www.mybusiness.com.au//7644-ato-warns-business-aga

05.01.2022 There is a new product on the finance market. Business loans are quickly being replaced by UNSECURED OVERDRAFTS. Could this be just what your business needs? Unsecured overdrafts dont all work the same and some are more expensive than others. Plus, they all have different qualifying criteria. Talk to our experts today to find out what is right for your business. Call us today on 1300 005 409 or visit our website www.stylefinance.com.au.

05.01.2022 Confused about which grants you can apply for? Watch this space .. more to come. There are up to 4 grants that you could be eligible for at any one time! This is the best time to be buying or building a home ..

05.01.2022 IS YOUR BANK ON "GO-SLOW" WITH THE SME GUARANTEE SCHEME? Great News - Non-Banks have now been appointed to the SME-GUARANTEE SCHEME!! A selection of non-bank lenders have been given approval to provide the Government's SME Guarantee loans. This is great news as the banks have been very slow to provide these loans or the red tape to get them can make it nearly impossible. ... So far, there are 4 non bank lenders who have been provided the nod of approval for the SME Guarantee Loans. All have their own criteria and will be offering various forms of repayment holidays and credit terms. Please call or email if you need to discuss further - ph. 1300 005 409 or [email protected] More information can be found here: https://www.theadviser.com.au//40230-non-banks-appointed-t

04.01.2022 Good news for home buyers: watch this space! https://www.mortgagebusiness.com.au//14592-govt-urged-to-f

03.01.2022 Well this just made my day! Thank you Dave and Eb x

02.01.2022 "Thank you Bernadine for all your help & patience" Congratulations Mary & Liam!! Wishing you every happiness in your new home

01.01.2022 Congratulations to Kristen & Josh! It was an absolute pleasure to work with you and we wish you every happiness in your new home

01.01.2022 HOMEBUILDER GRANT - Now Open for Online Applications in Victoria! Applications have just opened in Victoria for Online Applications for the Home Builder Grant. Details also revealed as to when payments will be made under the Grant (not known previously): HomeBuilder will be paid once the State Revenue Office Victoria is satisfied that you meet all of the eligibility criteria. The timing of the payment of the Grant will depend on whether your application relates to:... **A new build the Grant will be paid after foundations have been laid and the first progress payment has been made to the builder. **A substantial renovation the Grant will be paid after construction has commenced and evidence is submitted showing payments of at least $150,000 of the contract price have been made to the builder. **An off-the-plan home/new home contract the Grant will be paid after evidence is submitted showing that the property has been registered in your name on the certificate of title. You must be registered on the certificate of title as the owner of the property by no later than 31 October 2022. For more Information visit: https://www.sro.vic.gov.au/own/australian-homebuilder-grant

01.01.2022 #therehasneverbeenabettertime With the Cash Rate dropping AGAIN plus unprecedented support available for First Home Buyers NOW could be the best time for you to refinance or, if you're a First Home Buyer, build your DREAM HOME! Bernadine has more info & is ready to help you take the next step 1300 005 409 or [email protected]