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…

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 Banks such as Commonwealth Bank, Westpac, and NAB have completely withdrawn from offering SMSF loans.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…

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…

Urgent maintenance is an unavoidable aspect of being a landlord, so having a cash buffer set aside will help you deal with any unexpected problems. When renting out an investment property, having access to extra cash is vital for two reasons: to cover the costs of maintaining the property, giving it the best chance of remaining tenanted; and to cover the cost of the mortgage should you lose your employment or rental income A buffer ensures that you are not stretched to your financial limits, but rather comfortable while on…

Really use your senses Sniff, peer, listen and feel as much as you can. Your nose might pick up a mouldy or musty smell that may mean damp. You might spy small or hidden cracks that could mean structural issues. That clattering sound when water is running? That can be a sign of serious plumbing problems. Don’t be distracted by the beautiful bling Anyone can invest money in pretty cushions and lamps to set off the house. Or bake some cookies just as the open inspection starts so the house…

Finance for a start-up For a startup company with no trading business or cash flow, it can be quite difficult to secure a business loan. An alternative is to take out an investment loan against the equity of your home or property. A lot of the banks don’t have much of an appetite for startups, so an investment loan would be a good alternative for anyone wanting to fund a new venture. It provides flexibility and you’re more likely to secure approval. Finance for quick cash flow Similar to a…