1. FIRST HOME OWNERS....How to pass the genuine savings test!
    10 Oct, 2018
    FIRST HOME OWNERS....How to pass the genuine savings test!
    Savings are savings, right? Well… not necessarily. As part of a lender’s assessment of your suitability as a ‘good borrower’ they require evidence of your ability to plan and save for a deposit yourself. The concept of genuine savings is one area that can be confusing – and it doesn’t help that each lender tends to have their own policy. Definition of genuine savings This term is used by lenders to define the amount of funds a home loan applicant has ‘genuinely’ saved over time. Requirements
  2. Will the bank love your new job as much as you do?
    05 Jan, 2018
    Will the bank love your new job as much as you do?
    January and February are traditionally the months we see a peak in job seeking activity1. Perhaps a consequence of all those new year's resolutions for self improvement? Research shows Gen Y is now actively exploring and entering the property market. They are also well known as the job hopping generation with an average of just 20 to 32 months in a job2. In fact, the national average job tenure across all age groups is now 3.3 years. Today's job market is a far cry from the days of a 'job for
  3. Made your New Year financial resolutions?
    03 Jan, 2018
    Made your New Year financial resolutions?
    Do you want 2018 to be different? THEN START TODAY! It’s that time of the new year again… so here are our TOP TEN TIPS to help YOU achieve your financial goals in 2018. Follow them through and this might be the year that makes a BIG difference to your financial future! 1. Revisit or redo my budget Email us for our budget organiser to help you get started! 2. Save 10% of my earnings Direct debit into a separate higher interest savings account to avoid unnecessary or emotional spending
  4. CAN YOU MANAGE a mortgage AND a baby?
    20 Sep, 2017
    CAN YOU MANAGE a mortgage AND a baby?
    As new parents we are often caught off guard when our organised life becomes a thing of the past after we bring home our bundle of joy. It’s amazing how tiny babies can turn our household upside down. We quickly learn to be more flexible about when we eat, sleep, go to the shops and even shower! It helps to be flexible in our financial life too when the impact of reduced household income and the expense of a new addition starts to be felt. We’ve all heard it said “there is never a right time
  5. Nearly half of all home owners have NEVER refinanced! Are you one of them??
    01 Sep, 2017
    Nearly half of all home owners have NEVER refinanced! Are you one of them??
    A recent survey of Australian mortgage holders found 45% had NEVER refinanced their home1. The report also found customers who DID refinance saved an average of $240 per month ($2,880 pa) by refinancing a 30 year loan. What would YOU do with an extra $240 each month? Why consider refinancing? You no doubt know the cash rate set by the Reserve Bank of Australia (RBA) is at an all-time historical low. In turn, most lenders are offering the lowest home loan rates EVER seen. SO... If there are
  6. Keeping your credit score healthy
    09 Aug, 2017
    Keeping your credit score healthy
    We have all heard of credit reporting, but have you heard of credit scoring? Your credit file is one of your most important financial assets. Safeguarding this file is an important part of the finance application process. Your credit file contains: credit applications, overdue credit accounts, payment defaults, clearouts (as a missing debtor), commercial credit information and public record information.  You will have a credit score calculated from your credit file. Did you know that a
  7. 5 reasons a pre-purchase building inspection is essential
    06 Jun, 2017
    5 reasons a pre-purchase building inspection is essential
    It may seem one of the more tedious aspects of buying yourself a home, but building inspections are a must! It’s surprising how many people don’t think about getting a pre-purchase building inspection or decide not to for the sake of saving a few hundred dollars. An inspection is essential for a number of key reasons: 1. Checking for structural issues Structural weaknesses can cause collapses that may injure a person, but there’s also the possibility that the structural issue will be nearly
  8. First home buyers stay tuned...
    18 May, 2017
    First home buyers stay tuned...
    The Federal Budget is looming AND there are rumoured initiatives to help first home buyers (FHBs) into the property market. So if you – or your children – are potential FHB’s it might pay to stay tuned…. Housing affordability has been a hot topic as a barrier to entry into the Australian property market. Despite this, the younger generation ARE starting to enter the property market in a variety of ways – as singles, couples, rent investors, in co-ownership and also with help from family. So if
  9. Test your home loan knowledge!
    19 Apr, 2017
    Test your home loan knowledge!
    Take this quick quiz... How much do you know about YOUR home loan? Take this quick quiz (answer YES or NO).  Do you know: Your current interest rate? If your rate is fixed, variable or split between the two? The remaining term of your home loan? If you have a 'no frills' home loan or is it packaged with other finance products? If you have an offset account? If you have a redraw facility? If so, do you use it? If your loan attracts a break fee? How many times did you answer 'yes'? Research
    05 Apr, 2017
    Why low rates are making it harder than ever for first-home buyers...                                                                                                With low interest rates at historic lows, it seems like now is the time for first-time home buyers to make the leap into the property market. Surely low interest rates would help lower the burden of taking on a first mortgage, right?  Think again. Times of low interest rates tend to make it more difficult for first-time home buyers
    17 Mar, 2017
    What's the worst that could happen? An industry report has revealed Australia is highly underinsured compared to most developed nations – especially when it comes to income protection and life insurance. It is an ongoing problem that could affect many of us AND even more importantly - our families. The report shows: 95% of families don't have adequate insurance One in five families will be impacted by the death of a parent, serious accident or illness that leaves them unable to work The
  12. Should I refinance my home loan regularly?
    15 Mar, 2017
    Should I refinance my home loan regularly?
    It’s interesting that when our home or car insurance is due for renewal most of us invest time to shop around and check we’re still on a good deal. Yet we hesitate when it comes to reviewing our home loan! With the RBA cash rate at an all-time low and lenders continually offering new rates and loan products we are often asked by clients WHEN and WHY they should review their loan. Gone are the days when we stayed with the same loan or lender for the full 25 or 30 year term of a home loan – the
  13. Abolishing stamp duty for first home buyers!
    09 Mar, 2017
    Abolishing stamp duty for first home buyers!
    About this initiative From 1 July 2017, first home buyers purchasing properties valued below $600,000 will be exempt from paying stamp duty. Further, first home purchases valued between $600,000 and $750,000 will receive a concession applied on a sliding scale. It will be available for new and established home purchases. This initiative gives first home buyers across the state a helping hand, by substantially reducing the upfront cost of purchasing a home. How will it work? The exemption and
  14. Steps to successful property investment
    23 Feb, 2017
    Steps to successful property investment
    Property has been considered a popular path to wealth for Australians for many years. It has the potential to generate capital growth (an increase in the value of your asset) as well as rental income. There are also tax advantages associated with negative gearing. However, when buying an investment property, it is wise to remember that you are making a business decision and it’s worth taking the time to plan. 1. Do your homework You are not buying from the heart, but from the head, so it is
    15 Feb, 2017
    How LMI can make it happen... No debt, no worries! Lauren is 25 and has been working as a junior solicitor for three years while living at home. A diligent saver, she paid off her university HECS debt and now wants to buy her first home. She is keen on getting an apartment close to the city that will complement her busy lifestyle and become a good long-term investment. “I want to take advantage of my increasing income and get into the property market ASAP,” Lauren said. As a young
    08 Feb, 2017
    Then take action now! A recent survey revealed 41% of Australians have credit card debt and of those nearly 4 million cannot afford to repay it! In addition: The average Australian household has a debt of around 185% of their annual disposable income. Australian households have the fifth highest debt levels in the world with household debt increasing fourfold since 19882. Average debt levels are $12,643 for personal loans, $3,114 for credit card balances and $16,320 for car loans. So what does
    03 Feb, 2017
    What will be your path to prosperity? Investing in property is something that most of us think about doing, want to do or hope to do. However only around 20% of Australians ever actually do it. Why is this still the case when we know: • Our super payout may only pay out our mortgage on retirement, • Our savings won’t be enough to live on in retirement, we will have to severely reduce our lifestyle AND will most likely require some form of government assistance, • We need to get ahead financially
    25 Jan, 2017
    Finding balance in a busy world    We Aussies enjoy taking annual leave, so why is it that so many of us have accumulated a large amount of leave that is screaming out to be used? Are employers being too tough and refraining from approving leave? Or are we letting everyday life and work commitments get in the way of planning for longer term events? Maybe the cost of a holiday is simply becoming too expensive to justify spending our hard earned cash? It is staggering that the 7.7 million full
  19. Will you be renting for the rest of your life?
    11 Jan, 2017
    Will you be renting for the rest of your life?
    Perhaps not... With the ongoing concerns about increasing property prices, home ownership, the cost of living, and small or no wage increase, the question that continues to come up in conversation is ‘how will our children ever enter the property market?’ Did you know that approximately 28% of our Australian population at any time are in rental accommodation?   The percentage of owners (including those with a mortgage) vs renters have not changed significantly since the very first census of
    05 Jan, 2017
    The end that opens new doors   Some of us are excited by the end of the year as it means warmer weather and maybe even a summer vacation. For others it can be an emotional time as children finish the school year for the last time and enter the adult world of more responsibility, employment or further education. Letting go of the apron strings and facing the prospect of a less busy home can leave a big gap in the lives of many parent. It DOES however come with some benefits. After years of




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