Your local mortgage broker in Adelaide, Burnside, Port Adelaide and around
If you are like many of the home owners I have spoken to recently then you probably have not reviewed your home loan in years! Or even worse, you’ve gone straight to a bank for your home loan on your recent purchase and missed out on some crucial discounts you may have been eligible for!
It’s an absolute passion of mine to make sure all of my clients not only experience a streamlined home loan process, but also save thousands on their home loan by allowing me to shop around for them.
You see, my previous career in mortgage management taught me the value of flexible lenders. It also taught me that in order to help a customer save is truly about being able to offer a broad range of home loan products and the power to negotiate on their behalf. Through Loan Market, I now have access to hundreds of products and that give you a huge advantage.
Finding the right home loan for you can be a pretty daunting task. Offset accounts, monthly fees, application fees, Lines of credit LVR’s! Should you use a guarantor? And what about mortgage insurance?
If you are an investor looking to grow your portfolio or maximise your investment returns, whether you are a buy and hold investor, buy and renovate, or simply first time property investor, you’ve come to the right place.
Being self employed myself, and working with hundreds of small business up to larger company owners I understand which lenders will consider your individual circumstances and require less documentation than you think!
Breaking through the 2017 NSW Budget clutter
So what does this mean for Sydney’s apartment market? Thanks to our Federal Treasurer, 2017’s budget has relieved the tension by providing changes for first home buyers, property investors and older Australian’s looking to downsize. The NSW government has introduced a new packaged tailored to first home buyers that will see stamp duty costs removed from new and existing properties under $650,000 as well as stamp duty discounts for properties up to $800,000. The 9% stamp duty cost for lenders mortgage insurance commonly used by first home buyers with smaller deposits will also be axed. In addition, first home buyers can salary sacrifice up to $15k annually into superannuation to accumulate a deposit starting from July 1 this year. Not only will these contributions be taxed at just 15c in the dollar but a tax advantage is provided to those paying higher tax rates on income. The maximum amount of $30k can be saved individually or $60k per couple. Once the money is withdrawn it is taxed at a marginal rate of less than 30 per cent and for the average person this will increase savings 30 percent more than a standard bank account.
Changes To FHB State Government Grants And Duty Concessions
2. FHB duty concessions and exemptions (NSW and VIC only): NSW and VIC have announced increases in duty concession/exemptions for eligible FHBs NSW: The NSW State government will apply the revised concessions/exemptions as the title transfers are pre-stamped prior to settlement. VIC: The FHOG has increase in regional areas from $10,000 to $20,000. Stamp duty concessions/exceptions have increased for eligible FHBs from 1 July 2017. WA: The FHOG will reduce from $15,000k to $10,000 from 1 July 2017 Please see attached table that provides an overview of the FHB FHOG and duty exception changes. 3. OTP duty concessions/deferrals for Investors (NSW and VIC) will no longer apply and only be available for Owner Occupiers NSW: NSW Government is abolishing the 12-month deferral of duty for residential off-the-plan purchases by investors. Buyers who are purchasing a home they plan to live in off-the-plan (owner occupiers) will still be entitled to a 12-month delay in the payment of stamp duty, deferring payment from 3 to 15 months after settlement VIC: OTP concession will now only apply to buyers who occupy the property as their principal place of residence (PPR). This concession is no longer available for Investors from 1 July 2017.
What Really Goes Into A Credit Profile
Ever wondered why when you applied for a mortgage or personal loan you were declined without a specific reason? It was most likely your credit score was was not high enough for that particular lender. I get asked about this almost every week by customers. By far the biggest negative influence that makes up your credit score is making multiple credit applications with credit providers (51%), in other words, trying to shop around yourself. Using an Experienced Mortgage Broker could not only save you on your loan, but also save you harming your credit score! Protect your score today, Contact me to discuss your Home or Personal Loan options. Data and Image credit to @Equifax formally Veda.