Not a typo ” 2.2% plus gst ” then the deposit for stamp duty (unless as a first homeowner you qualify – in NSW < $800k). Finance for owner occupied homes ” not available for investors just yet. Now that the deposit you need has been reduced ” we just need to look at your financials to be sure of your borrowing capacity. It’s almost impossible to save your way to a median house deposit. No matter what you might have heard, your avocado toast and lattes are not the problem. #buyinvestlive https://calendly.com/kelvin-mason/10_min_phone_call

I was reading an article today about Granny Flats and how speeding approval time would free up > 650,000 possible sites ” a significant number. In NSW and appears QLD you don’t need council approval ” just need the build certified once complete. If you don’t of course ” you cant get insurance or an issue happen and you cant claim. The article from CoreLogic was saying that granny flats are a lower cost and efficient way to get more rental accommodation. They identified 242,000 properties suitable for granny flats in Sydney, 230,000 in Melbourne and 185,000 in Brisbane. Note – speaking with a local insurance broker ” you must be certified and please get both landlord insurance as well as home build and public liability. These are all tax deductible (of course) as the granny flat is deemed an investment= whether the loan is secured by your home or not. Other states look like more formal approval but also dependent on local councils. Quote Of The Week”Granny flat developments lev

An award-winning pathway to homeownership We know that when it comes to getting on the property ladder, it can feel like the odds are stacked against you – because they kind of are! One new lenders mission is to remove the biggest barrier to home ownership for Aussies today: thedeposit. The median house deposit is huge In Sydney, we’re talking over $258K for just the deposit. But you also need money set aside for stamp duty and taxes, pushing you into the $300K+ savings range. Saving for a deposit is taking a decade It would take the average saver, earning $100k+ annually, 9.99 years to save for a deposit. Gone are the days of working for a few years to buy your first home – complete with a garden and a white picket fence. House prices have been outstripping wages for years Housing prices are 30% higher than where they would be if in line with wage growth. In fact, since 2014, Sydney property price growth has increasingly outpaced wages. So yes, boomers like to say the interest rat

Recent research by Roy Morgan revealed a record 1.5 million homeowners are at risk of mortgage stress, a scenario when the cost of home loan repayments is between a quarter and half of income. Navigating Mortgage Stress: Early Action Matters In the ever-evolving world of personal finance, many of us may find ourselves facing mortgage stress at some point.📉 Whether it’s due to rising interest rates, unexpected life events, or shifts in our financial circumstances, the impact on our lives can be profound. But here’s the crucial lesson: when it comes to mortgage stress, acting swiftly is the key to regaining control and finding the best solution.🚀 Understanding Mortgage Stress Mortgage stress is when the weight of mortgage payments becomes overwhelming. Life’s curveballs, such as job loss or health emergencies, can make it difficult to meet those monthly obligations. The Domino Effect Mortgage stress isn’t just about money. It can lead to a cascade of challenges, af

In Australia, there is a significant shift occurring in the borrowing landscape, with borrowers increasingly seeking alternatives to traditional lenders. Factors such as rising interest rates, a growing cost of living crisis, and stricterlending criteria imposed by major banks are prompting Australians to explore unconventional avenues for financing their personal and business endeavours Borrowers are now looking for greater flexibility and options that go beyond the conventional offerings of banks. Non-bank lenders are seizing this opportunity to step in and cater to the evolving needs of borrowers. The non-bank lending sector in Australia is witnessing substantial growth, estimated at a steady rate over the years. This growth highlights a significant transformation in the Australian finance industry, driven by changing borrower preferences, increased competition, and innovative solutions that aim to enhance accessibility for borrowers seeking alternatives to traditional banks. T

In the exciting journey of finding your new home, one step stands out as a game-changer ” the Pre-Purchase Building Inspection. Its importance cannot be overstated. Let’s delve into why this inspection should be a top priority for all homebuyers. Revealing the Unseen A Pre-Purchase Building Inspection serves as a spotlight, revealing both major and minor issues that may be lurking within your future residence. Problems such as compromised structural integrity, pest infestations, water damage, mold,and electrical or plumbing issues can wreak havoc on your finances and peace of mind after the purchase. However, being aware of these issues beforehand empowers you to make a well-informed decision about whether to proceed with the purchase, factoring inpotential repair costs. Confidence and Negotiating Power Beyond uncovering potential problems, a Pre-Purchase Building Inspection provides a confidence boost for homebuyers who want to ensure they’re making a sound investment. It confirms

Wondering if you need savings for a home loan without a deposit? Here are some alternatives to consider: Family Guarantee – 105% Loan: This is the ultimate zero-deposit home loan option in Australia. A guarantor (usually your parents) can secure the loan with their property, allowing you to borrow 105% of the purchase price with noneed for personal savings. Use Equity As A Deposit: If you have enough equity in your current property, you can skip the savings requirement altogether. But what if you don’t meet these criteria? Don’t worry, there are still options for low deposit home loans: Explore Low-Deposit Home Loan Options: Link First Home Guarantee: A nationwide program enabling first-time buyers to purchase a property with a deposit as low as 5%, without the burden of Lenders Mortgage Insurance.Family Home Guarantee: Designed to support eligible single parents or legal guardians with at least one dependent in their quest to own a home sooner.Shared-Equity Schemes: Consider par

🏠 Navigating Property Shifts in 2023: Maximizing Opportunities🏠 Amid rising interest rates, 2023 emerges as a promising year for property investors in Australia. Rental rates soar, often hitting double digits, across regions. Stabilizing vacancy rates signal equilibrium in select areas. Trend 1: Rise of Regional Allure Regional areas captivate investors with lower property prices, capital growth potential, and an appealing lifestyle. Pandemic-induced work pattern changes have driven a migration to regional living, spurring housing demand. Government initiatives and infrastructure advances continue to attract investment. Trend 2: Home Triumphs Investment Investor choices vary based on finances, strategies, and market trends. Resources tilt towards primary homes, while investments focus on income and appreciation. Trend 3: Home-to-Investment Surge Favorable markets drive homeowners to convert residences into investments during upgrades. Trend 4: Houses Preferred

🏡 Considering Investing in Sydney Real Estate? Here’s Why It Might Be a Smart Move!🏡 Are you contemplating buying a home in Sydney? This bustling Australian city has long been an attractive destination for property investment, and here are some compelling reasons why: Stable Real Estate Market: Sydney’s real estate market has a history of stability, with property values generally appreciating over time. Limited Supply: Geographically constrained by water and national parks, Sydney’s land availability is limited. This scarcity can contribute to property value appreciation. Rental Demand: As a major economic hub, Sydney attracts professionals, students, and migrants, ensuring a consistent demand for rental properties and potential rental income opportunities. Low Interest Rates: With prevailing low interest rates, borrowing to buy property can be more affordable, potentially reducing your overall costs. Tax Benefits: The Australian government

In a recent interview on Sky News, Yellow Brick Road Home Loans Executive Chairman Mark Bouris delved into the heart of Australia’s housing crisis, pinpointing immigration policies as a pivotal factor. With a spotlight on the growing demandfor housing, Mark Bouris posed a crucial question: “How are we going to bolster the supply of new dwellings to match the population surge resulting from these new immigration policies?” Mark rightly highlighted the supply-demand equilibrium as a critical concern. Yet, the intricacies of this issue don’t just fall on the shoulders of a single governing body. As he eloquently stated, “Is it a federal government issue?Or does it rest with state or council levels?” Delving deeper, he uncovered the challenge faced by property developers in gaining approval for their plans. “Talk to any property developer, and they’ll echo the same sentiment: the biggest hurdle they encounteris the approval process.” This approval process bottleneck significantly hampers

🔹 As housing costs continue to rise faster than incomes in many cities, governments are considering rent freeze policies as a potential solution to address housing affordability and protecttenants from sudden rent hikes. While these policies aim to provide relief, there are essential factors to considerbefore embracing them. 🔸 Advantages of Rent Freeze: Housing Affordability: A rent freeze offers stable and predictable rental costs, easing the burden on tenants struggling to make ends meet.Tenant Protection: This policy shields tenants from abrupt rent increases, providing them with a sense of stability and security.Social Stability: By preventing rapid gentrification and displacement, communities can maintain their diversity and vibrancy. 🔹 Challenges and Considerations: Supply-Demand Dynamics: Critics argue that rent freezes may disrupt housing market dynamics, reducing landlords’ incentives to invest in property maintenance and potentially decreasing ov

🌟 Got questions about theSimpler Switch Refinancing? This is where you can refinance away from high rates (like after fixed rates end)without providing income documents :- Income Verification: 💼 No need to provide income evidence for Simpler Switch. Lender uses Credit Bureau data for this purpose. Repayment Comparison: 💵 The repayment comparison is based on the actual repayment amount, but servicing uses sensitized margin rates. Self-Employed Applicants: 💼 Wondering if self-employed folks can apply even if their income isn’t a factor? Those with steady business income can proceed. PAYG Employment: 👨💼 Switching jobs? For Simpler Switch, a 3-month rule applies for full/part-time and 6 months for casual positions. So, if you’re fairly new at your gig, hang tight before considering refinancing. Cash Out Limit: 💸 Eyeing some cash out? While refinancing, remember there’s a cap. You can’t cash out more than $50,000 in a year.