Satish Kumar | Mortgage brokers

Satish Kumar

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25.01.2022 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

25.01.2022 Do you know what your credit record says about you? Have you ever actually seen it? For many borrowers, it can be quite a surprise to learn that a few blotches have appeared over the years on their credit history report. ... Unfortunately, many are blissfully unaware until they apply for a home loan. Once your application has been lodged, it can be tricky to challenge your credit report and prove your worth to the lenders. Don't let this happen to you. Enrol in boot-camp today and get your credit record in shape - and the good news? You won't need to squeeze into the Lycra and start counting calories. 1) Review your credit record The first step is to get your hands on a copy of your credit history report. This can usually be done through your mortgage broker, or by directly contacting a Credit Reporting Body. There are quite a few companies who can provide your credit report to you, but the national bodies are: Veda, D&B, and Experian. 2) Challenge any discrepancies or misunderstandings If you think that there's a discrepancy on your credit history report, you can challenge these. The first step is usually to contact the company who added the incorrect information to your report, and see if they can amend it. Failing this, you can dispute the discrepancy through a Credit Reporting Body. 3) Be honest It pays to be upfront with your lender about anything on your credit report that could impact your ability to borrow. Most lenders are fairly strict, but some will take into account your explanation credit issues, and the steps you took to resolve them. 4) Cut down debt and credit Before you apply for a loan, try to reduce the amount of credit card debt - and also available credit that you have. Some borrowers are surprised to learn that a credit card with no debt owing at all - but with a high limit, can have an impact when being assessed for a loan. Try to reduce your limits wherever possible, or if you don't really use the card then consider cancelling it. 5) Know your finances Come to the first meeting with your lender or broker, prepared to explain your budget, expenses, income and your capacity to repay the loan. It's also important that you can demonstrate savings, as most lenders will require at least 5% of the purchase price in order to approve a loan. When it comes to the deposit, the more you can pay upfront, the greater your chances of being approved for a loan. If you can put down 20%, you will remove the need for Lenders Mortgage Insurance (LMI) which could represent significant savings for you.

22.01.2022 Would you like to improve the environmental efficiency of your home, save money on your energy bills and increase the value of your property? Our team can help arrange low-rate finance for energy efficient products. Our partners offer a fast, simple process and access to funds typically within 48 hours. Dont delay, get in touch today!

22.01.2022 Because selling your home in record time takes some elbow grease. How far should you go when presenting your home for sale? Do you really have to get rid of all your family photos? Who has the time to bake a fresh batch of cookies in time for every open house? There are some things that make a huge difference to potential buyers, and some that will just give you a headache for no reason.... If you're a bit unsure what you should do to make your property appealing to buyers, don't worry - just follow these 5 simple steps. Step 1: De-clutter It's time to cut down on some of those kids toys, and it might be a good idea to find a temporary home for your newspaper collection. Buyers are looking for space and comfort, and nothing says 'this house is too small' quite like an overflowing bookshelf. Try packing away some of the items that you don't use very often. If you don't listen to your CD's very often, load them onto your ipod and pack them into boxes. It's amazing how much nicer a home can seem when it's tidy and clutter-free. Step 2: Fix any small issues Do you need to replace any light bulbs? Are the doorhandles showing a lot of wear and tear? Perhaps your screen door is torn because the dog was trying to get outside. This is the time to fix all of those little things you never got around to. This will show potential buyers that you have maintained the home, and they won't be worried about nasty surprises. Step 3: Consider staging Do you still have the couch that your Auntie passed down when you were leaving home? Whilst it shouldn't matter what your furniture looks like - the truth is that it can make a difference. If your belongings are a little bit rough around the edges, consider hiring or borrowing some nicer items for a few weeks whilst your home is open for inspection. Step 4: Clean, Clean, and clean some more It's not always easy to keep your home spotless - especially if you have small children. But nothing will scare away potential buyers faster than dirty underwear on the bedroom floor, or last night's Bolognese splattered all around the kitchen. If you don't have the time to clean thoroughly before every open house, consider hiring a cleaner for this short period of time. By putting in the extra effort, you could be rewarded with a quick sale, or a better price. Step 5: Neat and tidy On the day of each open house, spend a few minutes making the beds (hotel-style if you can) and putting away any items that don't need to be lying around. Run a cloth over the benches one last time, turn on the dishwasher, and consider taking your dirty washing with you if you don't have time to get it washed and put away. If you receive an offer on the house today, you'll be glad you went the extra mile. If not, you can come home and relax knowing that the housework is already done!

21.01.2022 My top 7 Tips for Buying Off The Plan New home sales are back on the rise, fuelled in part by many investors and owner-occupiers buying off the plan. The concept is straightforward: put up a deposit (usually 10 per cent) to help the developer fund construction and pay the balance when the build is complete. ...Continue reading

21.01.2022 Did you know Mortgage Stamp Duty is no longer charged on refinanced home loans? When our home or car insurance comes up for renewal each year, most of us (hopefully) invest the time to shop around and investigate the competition to make sure we are getting a good deal. The average Australian with a mortgage spends 18% of their gross income on housing costs. With such a large investment, why do we not give our home loan the same regular review?... With the recent change that Mortgage Stamp Duty is no longer charged on refinancing your home, it is a lot cheaper and easier than many people think to switch loans. For more details, read my "Change can be good" article. https://www.mortgageaustralia.com.au///changecanbegood.pdf

19.01.2022 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

16.01.2022 Are you Financially Fit? Just like our health, our finances can do with a little check-up from time to time. Circumstances change - new job, new home, a partner or children - or we get caught up in the hurly-burly of life and lose touch with our finances. Thankfully, the Federal Government's MoneySmart program has created a handy online tool for all of us in need of a fiscal pulse check.... The Money Health Check helps you get back to basics by looking at your circumstances and financial goals and helping you with strategies to reach them. The questions are straight forward and will prompt you to consider some of the financial red flags you may not be aware of, or perhaps prefer to ignore! The Money Health Check will help you take a global view of your finances - from regular budgeting to debt reduction, retirement and estate planning. It also highlights the value of protecting your assets once you have them. Consider this your money GP, where you can get an overall check-up, identify any issues and get the information you need for further action, if required. The aim is to help Australians be more financially resilient for the long haul. Don't put it off - get your Money Health Check today at www.moneysmart.gov.au//calculators-and-/money-health-check https://www.moneysmart.gov.au//calculat/money-health-check

14.01.2022 Get new equipment. Keep your cash flow.

13.01.2022 Federal and State Governments review their incentive schemes for First Home Buyers with each annual Budget. To find out the latest benefits you are eligible for, visit http://www.firsthome.gov.au/. If you have any questions or would like some help in obtaining all the benefits you can, I'm here to help. https://www.firsthome.gov.au/

10.01.2022 BUYER BEWARE THE BARGAINS Limited cash flow and equity mean many first-time property investors feel the need to chase down a bargain to enter the market. But, like most things in life, you usually get what you pay for, which in the case of property can mean unrealised returns or even losses. While theres nothing wrong with paying less in the hope of making more, investors need to understand when a cheap property is truly a bargain and when they could be selling (or rath...Continue reading

04.01.2022 How to save for your FIrst Home - without moving back to Mum and Dad: Are you trying to save up for your first home? There's so much to think about - not just an enormous deposit, but stamp duties, moving costs, conveyancing fees and loan costs all add up to quite a number. Saving such a large amount can be a tough slog. You try and put a bit away each week but unexpected things tend to pop up, and it can feel like you're not getting anywhere at all. But there are a few thing...s you can do to speed up your savings journey. 1. Cut your costs It's time to sit down with the calculator and work out just how much you spend - on what. It's all too easy these days to 'tap and go' when you make purchases, without really stopping to notice the cost. For example, you might be horrified to learn that you currently spend $900 per year on energy drinks. And that's not including your morning coffee. Wait until you're in the right mood - and then be brutal. It's time to work out where you can trim the fat. 2. Kill the credit cards Credit cards are expensive to keep - and they have a way of blossoming if you don't keep paying them off in full. If you have a credit card debt, get rid of it. Sell your old textbooks, get a Saturday job, do whatever it takes because this one isn't doing you any favours. Not only will a credit card accrue interest, your savings goals will be undermined if you have to keep making repayments on credit cards all the time. 3. Make a budget Write down what you earn. Then list all of your 'non-negotiable' expenses - like rent, groceries, bills, train fares etc. Deduct the non-negotiable expenses, and what you have left is your disposable income. Rather than disposing of it - try to save as much as possible. Make a plan for how much you can afford save each month. It might be a bit of a stretch some months if you receive a big bill - so try keeping a separate account where you save a small amount every week. That way, if you receive your car registration you can pay it without compromising on your savings that month. 4. Leave some room to breathe We all need a break occasionally, and it's important that your budget does include some room to breathe. You might need to buy new shoes for work, or a present for your sister's birthday. Don't make it so tight that you can't even go to the movies. Leave a bit of slack for those times when you really need to live a little. That way, you're more likely to reach your savings goal.

01.01.2022 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