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Smartmove Support

All posts by Smartmove Support

How to keep your loan application on track

By | Uncategorized

Other than the obvious documentation that needs to accompany an application, satisfactory identification and evidence of income by way of pay slips, many lenders will expect to see a reference from your employer, group certificates or tax returns, and records of any investments or shares that you might have. If you are self-employed, you will need to organise alternative documentation to prove income, such as financial statements relating to the profit and loss of your business going back two years. Lenders will also want to see bank statements going back…

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Solicitors versus Conveyancers

By | Uncategorized

Buying property is one of the biggest decisions most of us will make in our lifetime – it’s something you want to get right. Every Australian state and territory has different laws, forms, regulations and taxes associated with purchasing property, so having either a solicitor or a conveyancer will help the whole process run smoothly. A property purchase is one of the biggest financial commitments a person can make. It is therefore important to have professional advice about what you are buying. Solicitors and conveyancers are familiar with all the…

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Working Together for Better Outcomes: Financial Advisers and Mortgage Brokers

By | Latest News

Optimising Debt Structures Effective debt structuring supports long-term financial goals. Mortgage brokers assist by refinancing for better rates, consolidating debts, and recommending loan features—such as offsets or redraws – to maximise benefits. For example, offset accounts can reduce interest while maintaining tax deductibility for investment purposes, unlike redraw facilities. Enhancing Borrowing Capacity Mortgage brokers provide access to a diverse range of lenders, where borrowing capacity can vary significantly based on lender policies and individual circumstances. This variety of choice allows brokers to identify the best lender for each client’s unique…

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Should you refinance for a better deal?

By | Uncategorized

There are many different factors borrowers need to consider when thinking about refinancing a loan. The first step is to speak to an expert about your needs and whether you can afford to service a different loan structure. At this point, a Smartmove Mortgage & Finance Advisor will also need to find out about your existing loan, repayments and the structure of the facility. The current value of the property is also taken into consideration, so the mortgage adviser will have access to current data that will indicate what the asset…

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Legacy SMSF loans could be costing clients thousands!

By | Uncategorized

Self-Managed Superannuation Funds (SMSFs) have gained popularity in Australia as a way for individuals to take direct control of their retirement savings. SMSFs allow investors to manage their own superannuation and make direct investments, including in property. However, the landscape of SMSF lending has undergone significant changes in recent years, particularly with the exit of major lenders from the market. Banks such as Commonwealth Bank, Westpac, and NAB have completely withdrawn from offering SMSF loans. Several factors have driven this retreat. Firstly, regulatory scrutiny has intensified, with the Australian Prudential…

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Australia’s Stage 3 Tax Cuts Boost Home Loan Borrowing Power

By | Uncategorized

Australia’s Stage 3 tax cuts, set to take effect from July 1, are designed to reduce the amount of tax people pay, increasing their take-home pay. This increased take-home pay has a direct impact on borrowing capacity, particularly for home loans. When people pay less in taxes, their disposable income rises. Banks and lenders consider this higher disposable income when determining how much they can safely lend to a borrower. With more money available after taxes, individuals can demonstrate a greater ability to repay a loan, thus qualifying for larger…

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Bank of Mum & Dad. Helping children enter the property market

By | Tips

We all know entering the Australian property market is challenging for first home buyers due to high housing prices relative to incomes, stricter lending criteria, limited housing supply in desirable areas, and competition from investors. This makes saving for a deposit and securing a mortgage difficult, leading to affordability issues. In this article we answer some of your questions around how the Bank of Mum & Dad can help their children enter the market for the first time. What government schemes are available for first home buyers? Government schemes for…

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