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refinance a loan

When should I refinance a loan?

Guest Blog – Tina Howes – SmartMove   Once of the hottest topics in the mortgage industry at the moment when you should refinance a loan. Lenders are giving customers between $2,000-4,000 simply to bring their business across. The market is aggressive out there and refinancing is something you may be considring, but is it right for you? What does it mean to refinance a loan? This is when you take your mortgage to another lender usually to obtain a better rate or restructure of your loan. Here are my key tips on when the right time to refinance: If …

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buying a property together

Buying a property with a family member or friend

Guest Blog – Tina Howes – SmartMove In more recent years, as property has become more expensive, buying a property with another party other than your partner or spouse has become more common as a way of pooling deposits and getting in to the market sooner but doing so is not without its complexities or potential downfalls.  I have summarised the key points to be aware of before entering into this type of arrangement.  Loan application Both purchasers will be assessed for their ability to afford the loan jointly. If you are both on the title on the property, you …

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Buying a Property in a Trust

Buying a Property in a Trust – Make Sure You Know These Key Points

Guest Blog – Tina Howes – SmartMove Buying a property in a trust – is it common? Not really, but it is something we see from time to time. More often than not, it’s from my self-employed clients that have received advice from their accountants or financial advisors to do so. Typically this advice is given to professionals who have a genuine risk to being sued as part of their livelihood (e.g., Doctors and Lawyers).  Key points for buying a property in a trust Putting aside any tax benefits or risk protection reasons, I will outline below what it means …

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interest rate rises

Are interest rate rises keeping you up at night?

Guest Blog – Tina Howes – SmartMove Let’s put interest rate rises into perspective:  I keep saying this but when the banks assess your loan they add 3.00% on top of the actual rate. Some banks even more. We have only seen 0.90% of an increase across May and June with a further 1.00% forecast. While this is not a nice thought, we knew this was coming and there is still some fat in there for before we see the full 3.00%.  If you took out a loan before the pandemic, chances are your owner-occupied interest rate was in excess …

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borrowing capacity

Should I buy Owner Occupied or Investment First?

Guest Blog – Tina Howes – Smartmove Recently I’ve been approached by some clients that are sitting on large cash deposits and are wanting to buy an owner-occupied property and an investment. Due to reduced income currently (one had a baby on maternity leave, the other hasn’t yet returned to work since having children but is looking to go back in 3 months) they are wanting to buy the investment property first. While this seems like a good idea, I wanted to share my views as to why I would generally advise against this:  The process would normally involve completing …

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Single Keys to Home

A helping hand for single parents dreaming of home ownership

The Federal Budget has been and gone for another year, with cost-of-living pressures rightly a significant concern. But this year’s budget was a little like a spendathon given that the Federal Election is due to be called any day now. A temporary cut to the fuel excise will assist every one of us when we’re at the bowsers, given you don’t get much change (if any at all) from $100 to fill up your petrol tank at the moment. There was also the announcement of a one-off $250 cash handout to Centrelink recipients, which is clearly a nice thing to …

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5 affordable rentvesting locations revealed

Many women are getting divorced, with a lot indicating they have decided that they want to spend the next few decades concentrating on themselves. There are plenty of women out there who have a few decades left in their working lives, but also ample opportunity to improve their financial futures through strategic property investment.

The Female Investor

How Gen X women can financially improve their retirement

Many women are getting divorced, with a lot indicating they have decided that they want to spend the next few decades concentrating on themselves. There are plenty of women out there who have a few decades left in their working lives, but also ample opportunity to improve their financial futures through strategic property investment.

Adviseable Australian property crash

Will interest only loans trigger the Australian Property Crash?

You’ve probably noticed that many commentators in the media are convinced that there will definitely be an Australian property crash. There have also been a few suggested catalysts for this terrible eventuality. Recently, Interest only loans have been in the spotlight as ASIC has voiced concerns on the quantity of these loans being originated through mortgage brokers. It is implied that brokers are wilfully putting borrowers at risk and the fear is that there could be an Australian property crash, similar to the calamitous events in the USA ten years ago. So, let’s look at two big questions here: Why …

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Adviseable australian housing crash

Will $500 billion in ‘Liar Loans’ trigger the Australian Housing Crisis?

A recent survey conducted by Investment Bank UBS has led to fears that a mortgage meltdown could trigger an Australian Housing Crisis. UBS have concluded that out of the 900 loans that were used in the survey, 67% were factually incorrect, therefore resulting in an estimated $500 billion in ‘liar loans’. UBS then went on to state that “the level of liar loans meant the impact on the broader economy from a housing downturn was likely to be more severe than anticipated by the banks”. The most common inaccuracies were overstating income and understating living expenses, the survey found. This …

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Adviseable positive and negative gearing

Positive versus negative gearing – how it works

There is an on-going debate about the virtues and value of negative gearing in Australia. Let’s take a closer look at how both negative and positive gearing work, and what may be the right choice for you as an investor Negative gearing is, in effect, a cash flow outcome, as a federal tax policy allows investors to claim their investment losses against their taxable income. Positive gearing really just means that the rent you receive is more than the cost of all the property expenses each month. So you’re making an “income” from it. When a property is positively geared, …

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Adviseable Overcoming the serviceability wall

Overcoming the serviceability wall

One of the common issues for Property Investors is hitting the, ‘serviceability wall’. Often at some point in your accumulation phase you will have a lender say, ‘no’, to lending to you for your next property. As your portfolio grows, each new property soaks up a greater proportion of that which you can comfortably service. So before you get to that, ‘no’ – it’s important to know the best ways to structure and organise your investments, and who and how best to approach for your next loan. For many investors, who try to do it themselves, they see this rejection …

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The real power of a second property mortgage

For many property investors, organising a second property mortgage by leveraging the equity in their first property, is the smartest investment strategy they ever make. Have a look at how we helped one particular lady.. It may not be the ethos of your grandparents’ generation, but being debt-free isn’t necessarily the path to financial freedom. This is why: You want to build on the equity of your first property. Equity is the amount of money in a property that you actually own. It can be calculated by working out the difference between what your property is worth and what you …

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Adviseable Property Experts call out spruikers

Picking your Mortgage Broker

The importance of the Mortgage Broker Many people head straight to their own bank when buying property. If this is indeed going to be your “strategy”, you may be missing out on some significant benefits. It really does pay to use a mortgage broker when shopping around for your loan. Even if you want to use your own bank for your mortgage, you can still use a broker to help process paperwork and manage the application on your behalf, and there is no direct cost to you. Some clients will say that their heart is set on using a particular …

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loan application

Common mistakes that can kill your loan application

In the past few months we’ve seen the major banks and other lenders make further changes in lending policy to investors. This effects loan application procedure. This was in response to calls made from the Australian Prudential Regulatory Authority (APRA) in an effort to curtail speculative housing investment. Add to this some fluctuations in the global financial markets, an election both here and in the US, Brexit, the usual misinformation in the media about the Australian housing market and we find ourselves in uncertain times. However, one person’s uncertain times, are another’s opportunity seized so we thought it would be …

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