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TOSRI-financial

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20.01.2022 Concerned about servicing your loans? If you are concerned about servicing your loan, reach out to your mortgage broker for help. As Australians everywhere take a close look at their financial circumstances, mortgage brokers stand ready to lend a helping hand. Whether experiencing financial hardship through job loss, a reduction in work hours, or business disruption, an increasing number of Australians may be struggling to balance their books as a result of the Coronaviru...s, and in many cases are wondering how they will continue to pay the bills. Difficulty with repayments According to research conducted by Finder in early 2020, about one in five mortgage borrowers, or about two million Australian households, were struggling to make repayments, despite record low interest rates. And with the challenging circumstances that have emerged since, it is anticipated that these pressures will only increase forcing more people to require financial assistance. Expertise of brokers is of critical support Brokers’ expertise in helping customers navigate the complex home lending market and their intimate understanding of their customers’ personal circumstances - means they are uniquely positioned to provide critical support for customers when discussing hardship and available options with lenders.

19.01.2022 Is one phone call really all it takes to secure a lower interest rate? With official interest rates trending downward, shrewd mortgage holders may take the opportunity to call their lender to ask for a better deal. But when even a small interest rate reduction means potential savings of thousands of dollars, is a simple phone call really enough to get you there? In 2019, ‘your interest rate should have a three in front of it’, is common advice for home owners considering the ...competitiveness of their loan settings. But while a number of lenders offer lower rates to new customers, it’s not always so simple for existing customers to secure the same outcome. A leading mortgage and finance broker says that if people want a better deal on their mortgage, there are basically two options: 1. Call your bank and ask them to match the new rate, or 2. Contact your broker and vote with your feet. And although the first option is commonly recommended, lenders aren’t always so obliging when it comes to rate-matching to get you a more affordable mortgage. As an existing client, it can be disheartening to see your bank offer new customers a lower rate to the one you currently have. Lenders regularly try to ‘win’ new customers by offering low rates. It is a great acquisition strategy. But if they refuse to match your current rate to this new offer, you can always contact a broker and refinance with a lender who is hungry to win your business. See more

13.01.2022 information will your broker ask you to provide? When you ask to enlist the services of a broker, they will probably ask you for the following documentation: Identification, including photo ID such as driver licence Income verification documentation such as recent payslips... Birth certificate, if you are applying for a government funded first home owner grant Depending on the lender or bank you would like your broker to apply to for your loan, you may also be asked to provide: A recent PAYG summary A notice of assessment from the Australian Taxation Office Tax returns Proof of your contribution toward the transaction, such as savings or deposit statements Purchase contracts for a home loan, including building contracts, or plans if building

11.01.2022 Ever wondered about SMSF rates, eligibility, lenders?

06.01.2022 We Wish you all a happy, healthy & prosperous New Year 2021!We Wish you all a happy, healthy & prosperous New Year 2021!