Happy New (hopefully Covid-Free) Year?

To say 2020 was a challenging year is an understatement. Whilst many reports tell us the global pandemic is under control with a vaccine being rolled out globally, we are still managing the impact of this pandemic in our own back yards and in the greater community.

But this is a finance newsletter, so let’s talk about finance!   

First Home Buyers

Has there ever been a better time for first home buyers to get into the market?

2021 could very well be the year a record number of first-time buyers will get into the market place simply because all the planets seem to be aligned in their favour!
Lowest interest rates ever
Additional government support
Relaxed qualifying criteria
New ASIC regulations keeping first-time borrowers safe

If you are a first-time buyer, you need to jump on the wagon and get yourself into the system – we can help make your dream come true and get you out of the rent trap!

The Year Ahead

January is traditionally the time we start planning for the year ahead. If you plan to buy your first home, then start by talking to a broker early to understand how the process works and have your borrowing capacity assessed and price range sorted before you start looking.

If you plan on refinancing, then don’t just look at the seemingly attractive ‘cash back’ offerings from the larger institutions - long term you may well be better off with many of the lenders who don’t have these types of marketing ploys designed to lock you in for a few years at the promise of some initial cash back up front! Often these deals cost more over the long run!

Setting goals is important and more so with your finances - keep it simple and take the first step to identify the area/s that matter to YOU eg. reducing your home loan balance, saving for a deposit. You just need to start with a realistic goal, keep track of how you are going and stay on course with that end goal in mind - if you momentarily go off-course, get back on the path rather than getting demotivated. Every step you take toward your goal will make a difference in the end!

As we enter this potentially ‘COVID-free’ new year, just a gentle reminder to make sure to get your finances in order early before you get super busy. Please call me on 0438 041 111 to arrange a confidential discussion and get things started.

Please enjoy our articles this month … riveting reading for all!

As always, enjoy life, work hard, play safe and remember that we are always here to help you
 
‘Take the Confusion Out of Lending’ 

All the Best

Peter Vinci - 0438 041 111