SOME NITTY GRITTY

Reporting With Style & Substance

Our reports are based on current research into the home lending market. Rates and products change daily and what was a great deal last week may no longer be available today. Our reports take a lot of the leg work out of finding an appropriate and affordable home loan.

Our reports show three lenders that match your needs along with being the three likely best deals on the market from all of our lenders, based on the date. So you receive up to date information on which to base your choices. Our reports also outline the savings you can make.

Below is what is available in our reports.

REFINANCE REPORT

will clarify current best loans available based on your Lend to Value Ratio (LVR).

  • Best 3 lenders Fixed

  • Best 3 Lenders Variable

  • Best 3 Products Fixed

  • Best 3 Products Variable

  • What you really pay now versus what your repayment will be for the best 3 fixed

  • What you really pay now versus what your repayment will be for the best 3 variable

  • Cost report on how much it costs to switch

  • Total Savings per week, fortnight, month and annually

PURCHASE REPORT

will clarify the current best loans available based on your deposit amount versus the sale price of the security (home, unit, land etc) you wish to buy.

  • Best 3 lenders Fixed

  • Best 3 Lenders Variable

  • Best 3 Products Fixed

  • Best 3 Products Variable

  • Funds To Complete Report

    How much you need to put into the purchase in order to complete settlement

  • Loan Approval Report

    How long it will take for each stage of the application

    What you need to have in order to achieve approval

  • First Home Buyers report

    What savings you can make as a first home buyer

    How to apply for and get the FHOG

  • Advice

    Over all home loan advice on the prospect of buying property for your circumstances

In addition, you can download for free [here] our personal budget spreadsheet which is an XL spreadsheet.

This spreadsheet is required for government legislation and will give you an very good accounting of where your money goes and you disposable income after expenses and liabilities.  This budget planning tool was designed by a fully qualified financial planner and is used extensively in that business.

A Few Questions

Q: I want to put a contract on a property, what do I put in the finance clause?

A: Subject to finance 14 days. Also make sure that you have somewhere in the contract subject to building and pest inspection. Make sure you have a conveyancing solicitor that you trust and make sure that their name and number appears in the contract.

 

Q: What is best - fixed or variable?

A: It really is up to your situation and what your goals are. If you want to save money over the term of the loan, probably go variable with an offset account or use free re-draw as a quasi line of credit facility to keep your money in the loan so you can use the compounding effect of interest back at the bank. if security is your goal or even if you want a super cheap rate, fixed is a good option. Some fixed loans even have an offset account now but all fixed accounts have at least $10,000 additional payment allowed per annum - so you can still pay the loan down some what.

 

Q: Are interest rates going to go up - if so, when?

A: Very hard to say. Some analysts say end of 2017. These interest rates are at record lows. I have many clients currently fixing for five years as they suspect that even at mid to high 4's as far as a rate they will be saving a lot of money at some stage during the fixed period. We are doing a lot of 2 and 3 year fixed as people believe they will still be able to negotiate a cheap rate when the fixed period expires, maybe even fix again at a cheap rate. We do this as a free service for our clients.

 

Q: Are small lenders as secure as big lenders like the banks?

A: Absolutely! Every deposit taking institution in Australia has the same protections governed by law. The only difference is in perception and in rates and products. Big banks use that they are perceived to be secure in order to charge a little more - but its not the case - they charge more because they like making billions of dollars profit every year. Bear in mind that the Big 4 banks of Australia consistently rate in the most profitable 12 banks in the world. they do this by charging us.

 

Q: So why would I ever use a big bank?

A: Simple answer is policy. Big banks can rubber stamp LMI (Lenders Mortgage Insurance) regardless of criterion like postcode, LVR a small credit impairment, even your work history which small lenders will find challenging because they have to submit the loan to LMI for their policy approval as well their own. A good example of this is purchasing more than 5Ha of vacant land.