# Real Lending Solutions > Admin Email: dev@metaweb.net.au ## Posts ### Step-by-Step Guide to Debt Consolidation in Australia Are you juggling multiple credit cards, personal loans, and store accounts every month? You’re not alone. Debt can quickly pile up, especially when each loan comes with a different interest rate and repayment schedule. That’s where Debt Consolidation steps in—a practical, structured solution that simplifies your financial life. Here's how its process works—step by step. What is Debt Consolidation? Debt consolidation is the process of combining multiple debts into a single, manageable loan—usually with a lower interest rate. Instead of paying off different creditors, you’ll make just one regular repayment. It can make budgeting easier, reduce your monthly repayments, and help you clear your debt faster. Step 1: Assess Your Current Debt Situation Before jumping into any financial solution, it's important to take stock of where you stand. Collect all your statements—credit cards, personal loans, car finance—and total up how much you owe. Make note of: Interest rates on each debt Minimum monthly repayments Due dates Any penalty or exit fees Knowing the full picture helps you and your broker make an informed decision. Step 2: Understand Your Debt Refinancing Options In Australia, debt integration can be done in a few different ways: Personal Loan: Take out a new loan to pay off existing debts. Refinance Your Mortgage: If you own a home, refinancing your home loan could allow you to roll your debts into your mortgage at a lower rate. Balance Transfer Credit Card: Some credit cards offer 0% interest for a limited time on balance transfers. Each option comes with pros and cons. A qualified adviser can guide you in choosing the most suitable option for your financial needs. Step 3: Check Your Credit Score Your credit history plays a key role in the interest rate and loan terms you’ll be offered. You can request a free credit report from agencies. A clean credit history may unlock better deals, but don’t stress if yours isn’t perfect. Step 4: Apply for a Debt Refinancing Loan Once you’ve chosen the right consolidation method, the next step is the application. Be ready to provide: Proof of income (e.g. payslips or bank statements) A list of existing debts Identification documents A professional advisor will guide you through the process, ensuring a smooth application and liaising with lenders on your behalf. Step 5: Pay Off Your Existing Debts Once approved, your new loan will be used to pay off your existing debts. This is often done automatically if you’re working with a broker—saving you the hassle of chasing payments and paperwork. From there, you’ll begin making a single, consolidated repayment—usually at a much more manageable interest rate. Step 6: Stick to a Repayment Plan Consolidation doesn’t make debt disappear—it simply makes it easier to manage. The key is to stick to your new repayment schedule and avoid racking up fresh debt while you’re paying off the consolidation loan. Consultant agencies will help you set a realistic budget so you stay on track and reach financial freedom sooner. Ready to Simplify Your Debt? If you’re tired of financial stress and want a clearer path forward, it’s time to talk to Real Lending Solutions- offering tailored debt consolidation strategies designed to give you breathing space and a fresh start. ### Breaking Down Self Employed Loan Options: A Guide for Freelancers and Business Owners Being self-employed offers freedom, flexibility, and the opportunity to grow your venture. But when it comes to securing finance, things can get complicated. Whether you’re a freelancer, sole trader, or small business owner, navigating self-employed loan options can feel overwhelming—especially if you’re applying for the first time. This guide aims to simplify the process and help you understand your options, the challenges you may face, and how to improve your chances of approval. What Types of Loans Are Available for Self-Employed Borrowers? Self-employed individuals can access various loan types, but the application process and eligibility criteria may differ slightly from standard borrowers. Here are some of the most common self-employed loan options: Personal Loans: Great for consolidating debt, covering unexpected expenses, or funding personal projects. Home Loans: Ideal if you’re looking to buy or refinance a property. Lenders will assess your financial stability over time. Business Loans: Designed for business growth, purchasing equipment, or managing cash flow. Car Loans: Useful if you need a vehicle for work or personal use, with repayment terms based on your financial documents. Each loan type requires a thorough review of your income, business structure, and repayment ability. Some lenders specialise in working with self-employed clients and understand the nuances of your financial situation. Common Challenges for the Self-Employed While self-employment has many advantages, loan applications can bring a few extra hurdles. Here are some of the most common: Inconsistent Income: Fluctuating monthly earnings can make it harder to demonstrate repayment capacity. Limited Financial History: New business owners may not have several years of income history to present. Higher Documentation Requirements: Lenders typically require more detailed financial records from self-employed applicants. Stricter Assessment Criteria: Some lenders apply more conservative assessments for variable income. Knowing these challenges can help you better prepare and take proactive steps before applying. What Documentation Will You Need? To improve your chances of approval, gather all necessary documents before applying. Most lenders will ask for the following: Tax Returns (usually for the past two years) ABN (Australian Business Number) details Business Activity Statements (BAS) Profit and Loss Statements Bank Statements (typically 3–6 months) Identification documents Having complete and up-to-date paperwork shows lenders that you’re organised, responsible, and at a lower risk. Tips to Strengthen Your Loan Application Even with the challenges, smart ways can boost your approval odds. Consider these tips: Improve Your Credit Score: Pay bills on time, reduce credit card usage, and resolve outstanding debts. Reduce Debt-to-Income Ratio: Pay off as much existing debt as possible before applying for a new loan. Show Consistent Income: Use recent tax returns and bank statements to show stable or growing earnings. Save a Larger Deposit: Particularly helpful for home or business loans, a larger deposit can offset lender risk. Work with Specialist Brokers: They can match you with lenders who understand self-employed borrowers. Ready to Explore Your Loan Options? With the right guidance and preparation, securing a loan as a self-employed individual is absolutely achievable. Whether you’re launching a new venture, upgrading your workspace, or buying a new car, there’s a solution to suit your financial goals. Real Lending Solutions understands that every freelancer, contractor and business owner has a unique financial journey. Our team specialises in helping self-employed clients navigate personal loans and business finance options with ease and confidence. Visit reallendingsolutions.com.au today and get personalised support tailored to your business and lifestyle needs. ### Should You Choose Fixed or Variable Interest Rates? Buying a car is more than just a milestone; it’s a step toward freedom, convenience, and lifestyle enhancement. In a city like Wollongong, where the pace of life is balanced by a thriving local economy, choosing the right financial path is just as crucial as picking the right vehicle. When it comes to car loans, one of the most important decisions is whether to go with a fixed or variable interest rate. Each option has its benefits and risks, and the choice you make can significantly impact your financial comfort over time. Read on to explore the differences between fixed and variable interest loans and discover which option suits your needs best, so you can drive away confident and stress-free. Understanding Interest Rates in Auto Loans Interest rates are important in determining how much you'll ultimately pay for your vehicle. After reviewing your loan application, lenders may offer a fixed or variable rate of interest based on your credit score, the length of the loan, and the state of the market. In Wollongong, banks and lenders follow national economic trends when setting the rate of interest. As such, it is essential to know how your choice between a fixed and variable rate will affect your loan experience. Fixed Interest Rate Vehicle Loans A fixed-interestauto loan means the rate you agree on at the beginning of your loan will remain the same throughout the agreed period, usually one to five years. This gives you the advantage of consistent monthly repayments. Benefits Predictability: Budgeting is easier because your monthly payments don't change. Protection from rate rises: You won’t be affected if the market loan rates increase during your fixed term. Confidence in planning: Ideal for borrowers who value stability and want to avoid unexpected increases. Considerations Less flexibility: Fixed-rate loans often limit extra repayments or early exits. No benefit from rate drops: If market rates fall, you’ll still be locked into your higher rate. Possible break fees: Exiting a fixed-rate loan early may incur financial penalties. Variable Interest Rate Vehicle Loans In a variable interest rate loan, your loan repayments may fluctuate over the course of the loan. These changes depend on shifts in the market or decisions made by your lender. Benefits Flexibility: Most variable-rate loans allow additional repayments or early payoffs without fees. Potential savings: If interest rates drop, so will your monthly repayments. More adaptable: Ideal if you expect changes to your financial situation or want to refinance later. Considerations Uncertainty: Repayments may increase if the market rates rise. Budgeting challenges: Varying monthly costs can make it harder to manage your finances. Risk exposure: You’ll need to be comfortable with potential fluctuations. Why Real Lending Solutions Is the Right Choice for Your Car Loan At Real Lending Solutions, we’re more than just finance brokers; we’re your local partners in securing the right loan for your car. Based in Dapto and proudly serving Wollongong, Shellharbour, and the greater Illawarra region, we specialise in guiding clients through the often-confusing world of vehicle finance with clarity and confidence. Whether you're weighing up fixed or variable rates of interest, or simply unsure where to begin, we provide tailored support at every step. With access to a wide panel of Australia’s top lenders, we compare multiple car loan options to help you secure competitive interest rates and flexible terms that match your financial goals. Let us take the stress out of the process, from explaining your options to handling the paperwork, so you can focus on enjoying your new car. Ready to take the next step? Contact our friendly team today and let’s find the right option for you. ### How a Property Investment Advisor Enhances Your ROI Property investment is the purchase of real estate to generate income, capital appreciation, or both. It can include residential, commercial, industrial, land investments, buy-and-hold, flipping rental properties, and Real Estate Investment Trusts (REITs). However, as the investment procedures are complex, hiring a property investment advisor to guide your investment portfolio is wise. This blog discusses the role and advantages of hiring a property investment advisor. Who is a Property Investment Advisor A property investment advisor is a professional who provides expert guidance and recommendations on real estate investments. He evaluates real estate markets to identify investment opportunities and trends and develop tailored strategies based on the client's financial goals and risk tolerance. The advisor thoroughly researches properties, including inspections, zoning regulations, and financial performance, to provide advice on financing options, including mortgages and investment structures. Helps clients manage and optimise their real estate portfolios over time. Skills of a Good Property Investment Advisor A good property investment advisor must possess the following key skills. In-depth understanding of the market, property types, and investment principles. Ability to analyse data and market trends to make informed recommendations. Strong ability to communicate complex concepts clearly to clients. Expertise in negotiating property purchases, sales, and leases on behalf of clients. May hold licenses or certifications in real estate or financial advising. Advantages of Hiring a Property Investment Advisor Expert Knowledge Property Investment Advisors possess extensive real estate market knowledge, including current trends, pricing structures, and property values. They understand the nuances of different markets and help clients make informed decisions based on data rather than speculation. Tailored Investment Strategies Each investor has unique financial goals and risk tolerance levels. A Property Investment Advisor develops personalised strategies that align with these goals, considering budget, desired returns, and investment timeline. This customised approach increases the likelihood of achieving successful outcomes. Market Insights Advisors can access comprehensive market research and analysis tools to identify emerging markets and investment opportunities that might not be widely advertised. This insider knowledge can give clients a competitive edge in securing valuable properties before becoming mainstream. Time Savings Navigating the real estate market can be time-consuming. A Property Investment Advisor handles the research, property searches, and due diligence, allowing clients to focus on their core activities or other investments. This efficiency can lead to faster decision-making and investment acquisition. Due Diligence Support Advisors thoroughly assess potential properties, evaluating physical conditions, legal considerations, and financial performance. This includes property inspections, reviewing rental income potential, and understanding local zoning regulations. Their expertise helps clients avoid costly mistakes and make informed purchases. Negotiation Skills Skilled negotiators and property Investment Advisors represent their clients in negotiations to secure the best possible terms and prices. They understand market dynamics and leverage their expertise to advocate for their client's interests, which can result in substantial financial savings. Portfolio Management A Property Investment Advisor helps clients manage and optimise their real estate portfolios over time. This includes monitoring performance, suggesting adjustments, and ensuring the portfolio aligns with evolving market conditions and personal financial goals. Risk Mitigation Advisors identify potential risks associated with specific investments, such as market fluctuations, tenant issues, or regulatory changes. They develop strategies to mitigate these risks, helping clients make safer investment decisions and avoid significant losses. Financial Guidance Property Investment Advisors provide valuable insights into financing options, investment structures, and tax implications. They can recommend the best financing methods, help clients understand how to leverage their investments and navigate the complexities of tax benefits related to real estate. Networking Opportunities Advisors often have extensive networks within the real estate industry, including relationships with agents, lenders, contractors, and property managers. This network can provide clients with additional resources and support, enhancing their investment experience. Start Your Journey to Financial Success—Get in Touch with Us! We at Real Lending Solutions are your dedicated mortgage brokers in Shellharbour. We are committed to guiding you through the competitive and ever-changing mortgage landscape. Our property investment consultant allows us to shop for the best loan options tailored to your circumstances, whether you're seeking a home loan or building an investment portfolio. We negotiate on your behalf, ensuring you receive fast results while helping you avoid common pitfalls. With access to hundreds of loans from Australia's leading lenders, we simplify the process and prioritise your needs. Ready to find the perfect mortgage? Contact us today, and let's get started on your financial journey! ### How Local Finance Brokers Simplify Your Home Loan Journey Buying a home is one of the biggest financial decisions you will ever make. Whether you are a first-time buyer or looking to refinance, securing the right home loan can feel overwhelming. With countless lenders, varying interest rates, and complex terms, finding the best mortgage solution requires time, research, and expertise. This is where local mortgage and finance brokers play a crucial role. They streamline the process, offering tailored solutions to suit your unique financial situation. This guide explores how local finance brokers simplify your home loan journey and why working with an expert can save you time, money, and stress. What Do Local Mortgage and Finance Brokers Do? Local mortgage and finance brokers act as intermediaries between you and lenders. Their primary role is to assess your financial position, compare different loan products, and recommend the best options for your needs. Unlike banks that offer only their mortgage products, brokers have access to multiple lenders, giving you a wider selection of loan choices. Key Responsibilities of a Finance Broker: Assess your financial health and borrowing capacity Compare loan products from various lenders Negotiate competitive interest rates and loan terms Assist with paperwork and application processes Provide ongoing support until settlement Working with a finance broker gives you access to expert advice and industry insights that help you make informed decisions about your home loan. The Benefits of Using a Local Mortgage and Finance Broker 1. Access to a Wide Range of Lenders and Loan Products One of the biggest advantages of using a broker is their access to multiple lenders. Rather than limiting yourself to a single bank’s offerings, brokers provide a broad spectrum of mortgage options, ensuring you get the most competitive rate and terms. 2. Personalised Loan Solutions No two borrowers are the same. Whether you are self-employed, a first-time buyer, or an investor, a local broker tailors loan solutions to fit your financial situation. They assess your needs and recommend the best mortgage product based on your income, expenses, and long-term goals. 3. Save Time and Effort The mortgage application process involves extensive paperwork, research, and negotiation. A finance broker handles the heavy lifting for you, from gathering required documents to liaising with lenders on your behalf. This saves you time and reduces the stress associated with securing a loan. 4. Better Interest Rates and Loan Terms Brokers have strong relationships with various lenders and are skilled negotiators. This enables them to secure competitive interest rates and loan terms that you may be unable to access independently. Even a slight reduction in interest rates can result in significant savings over the life of your loan. 5. Expert Advice and Guidance With ever-changing lending policies and market conditions, having an expert by your side ensures you make well-informed financial decisions. Brokers stay updated with industry trends and regulatory changes, helping you navigate potential challenges in the mortgage process. 6. Assistance for Complex Financial Situations If you have a less-than-perfect credit history, irregular income, or require specialised loan products, a broker can connect you with lenders who are more flexible in their lending criteria. They help structure your application to increase your chances of approval. How Local Brokers Simplify Each Step of the Home Loan Process Step 1: Understanding Your Financial Position Your broker begins by assessing your financial health, including your income, expenses, and credit score. They help determine your borrowing capacity and provide realistic expectations about the loan amount you can secure. Step 2: Exploring Loan Options Based on your financial profile, the broker presents multiple loan products from different lenders. They explain the features, benefits, and potential drawbacks of each option, ensuring you choose the best mortgage for your needs. Step 3: Preparing and Submitting Your Application Once you select a loan, your broker assists with the application process. They ensure all documents are in order and submit the application to the lender, reducing the likelihood of delays or rejections. Step 4: Negotiating Terms and Approval Brokers advocate on your behalf, negotiating better interest rates and loan conditions. They communicate with lenders throughout the approval process, keeping you informed every step of the way. Step 5: Settlement and Ongoing Support After loan approval, your broker facilitates the settlement process, ensuring a smooth transition to homeownership. Even after settlement, they remain available for future refinancing or mortgage adjustments. Why Choose a Local Mortgage Broker Over a Bank? While banks offer direct loans, they only promote their own products, limiting your options. On the other hand, local finance brokers provide unbiased advice and access to a diverse range of lenders. They work in your best interest, ensuring you secure the most favourable home loan. Finding the Right Local Mortgage and Finance Broker When selecting a broker, consider their experience, lender network, and client reviews. A reputable broker should be transparent, communicative, and dedicated to finding your best loan solution. Navigating the home loan process can be complex, but with the right support, it can become a seamless experience. Real Lending Solutions is committed to helping you find the perfect mortgage with personalised service and expert guidance. Secure Your Ideal Home Loan with Real Lending Solutions At Real Lending Solutions, our team of local mortgage and finance brokers takes the stress out of securing a home loan by offering tailored solutions, competitive rates, and ongoing support. Whether you’re still saving for your first home, looking to use the equity in your current one, or wondering if you’re still getting the right deal with your existing lender, we’re here to help. You can make an obligation-free appointment with us at a time and place that suits you. Ready to simplify your home loan journey? Contact us today for professional assistance in finding the best mortgage for your needs. Let us help you turn your homeownership dreams into reality! ### How a Financial Advisor Can Help Secure Your Future Managing your finances is crucial for securing a stable and prosperous future. With the complexities of personal finance, navigating the path alone can be challenging. This is where a financial advisor becomes inevitable, providing tailored solutions to help build your portfolio or manage debt and achieve your unique financial goals.     What is the Role of a Financial Advisor? A financial advisor is a professional who provides genuine guidance on managing your money effectively. Their role includes diverse services, from budgeting to long-term planning. There are some essential ways they can assist you:   Retirement Planning A financial advisor helps you calculate how much you may need and identifies the most suitable retirement accounts like superannuation funds or SMSFs. Retirement can look like a distant event, but it is better to plan it from now on. They can modify your plan according to your financial situation, ensuring a comfortable retirement.     Investment Strategies Some specialised financial advisors play an essential role in developing plans. These investment advisors analyse your risk tolerance capacity, financial goals, and market situation to suggest the most suitable options for investing your money. They ensure your funds are diverted to different investments, such as bonds, mutual funds, and real estate, so you have a diverse investment portfolio.   Proper Financial Planning Advisors take time to understand your goals by analysing income, expenses, assets and liabilities to create a customised plan. From buying a home, saving money for your child’s education, or making a plan for your retirement, they ensure you are on the right track to achieve your financial milestones. Managing Debts An investment advisor can help you tackle and reduce loans by creating streamlined plans, consolidating them or renegotiating terms. When you give importance strategically, they can move you towards financial freedom.   Optimise Tax Taxation can affect your finances considerably. So, advisors help you reduce liabilities by identifying deductions, credits, and more. This ensures you can retain more of your own money without legal complications.  How to Choose the Most Suitable Advisor? Selecting the right advisor is crucial for your financial success. Consider these steps: Conduct Research  Look for advisors who are qualified and certified to do this job. Certification is a sign that they have the essential experience and commitment to professionalism.   Ask for Suggestions  Ask friends, family, or colleagues for referrals to trusted advisors they’ve worked with.   Understand their Methods  Sit and discuss with these advisors how they approach finances and create strategies. Choose the one whose method suits your values and risk tolerance.   Know their Fees Clearly  Each advisor charges a different amount using different methods. Some may take a direct fee, and others ask for a percentage of the value of the asset managed. Understand their fee structure so you don’t feel overcharged later. For expert financial guidance, look no further than Real Lending Solutions, which offers professional assistance to help you navigate your financial needs effectively. Why Choose Real Lending Solutions?   At Real Lending Solutions, we understand that protecting your finances also safeguards your future. It requires proper planning and genuine assistance. We have experienced and professional advisors who work to help you achieve your financial goals, such as managing debt, planning for retirement, or diversifying your investment portfolio.   Personalised Services  We understand that each person has unique financial needs and risk tolerance capacity. The same advice won’t be practical for everyone, so we offer tailored advice for your specific needs to ensure the plan works well.   Regular Reviews  The market fluctuates, and so does your financial situation. Our advisors monitor market conditions and review the plan to adjust to changes in income and family situation.   Diverse Services  We offer a full suite of financial planning options, from budgeting to investment strategies, which makes us the most unique advisor.   Conclusion   The most suitable time to seek financial advice is when starting a career, planning a marriage or family, buying a home, investing in properties, or creating a base for a happy retirement. It is essential to take your financial future seriously because it decides how you will be in your later stage. Real Lending Solutions is here to assist if you are looking for genuine financial advice. You can contact us today to explore our methods so you can make your financial future safe.   Call 0414 666 015 or visit us at 2 - 4 Bong Bong Rd, Dapto NSW 2530 ### How to Claim a Home Loan in Australia? If you are considering buying a home, renovating an existing home or investing in real estate property, then knowing the process for a home loan would become very crucial. At least the process between application and approval of a home loan seems incredibly complex, so you need the proper guidance and preparation to make a home loan claim smooth. This blog provides a step-by-step guide on claiming new home loans in Australia. It provides insight into the selection of the best loans, whether you are for renovation property loans or after-investment property loans. Assess Your Financial Health and Loan Eligibility When submitting a home loan application, the first consideration is determining your financial readiness and suitability level. Lenders seek stability in income, a good credit history and an acceptable debt-to-income ratio. Here's what to consider: Check Your Credit Score: A strong credit score will increase your chances of getting that loan approved and access to better interest rates. Compute the Monthly Income Along with Expenditure and Unpaid Dues: This will serve as a guideline for how much you may comfortably borrow. Determine the Loan Amount and Deposit: Most mortgage lenders in Australia require a deposit of 5-20% of the value. The higher the deposit, the better the condition of the loans. Loan and its Types Loans serve different purposes. For instance, a new home loan would have different requirements and terms than a renovation loan or investment property loan. Here are a few types of loans. Fixed Rate vs. Variable Rate Loans: Fixed loans can be more predictable as they have fixed rates set, and then, on the other hand, you will have variable loans. Their interest rates are in terms of the market, hence giving them a chance for flexible savings. Property Renovation Loans: These are for those looking to renovate or upgrade their property. The loans often take into account the future value of the renovated property. Investment Property Loans: These loans are for those purchasing a property for investment purposes. They often have tax benefits but are much more stringent in conditions. Documentation Once you have chosen your loan type, the next step is to collect all the documentation required for the application process. In general, lenders in Australia usually require the following: Income Proof: Recent payslips, tax returns or financial statements for self-employed applicants. Identification: Passport, driver's licence or any other identification showing residency. Bank Statements: The last three to six months' statements show income and expenses. Other Liabilities: Other current loan repayments or credit card debts. Apply for Pre-approval Loan pre-approval application is one of the stages of the home purchasing procedure. It helps to know what you can borrow; hence, you get the confidence to look at property within your range. Many lending institutions in Australia do give pre-approval for a period of between three and six months. Pre-Approval Advantages: Budget with Confidence Speedy Property Purchasing Bargain from a Strong Position Complete Home Loan Finalisation and Mortgage Application Once the desired property is identified and pre-approval is already created, one takes the step to finalise the home loan application. This involves the following three critical steps: Valuation of the property: The lender establishes the property's worth to ensure that the valuation is reasonable and on par with the loan amount. Review by the legal team: The legal teams on the lenders' end will scrutinise all documents, such as the sales contract and title to the property. Loan Acceptance and Settlement: A loan will be taken to the settlement stage, where a lender transfers money to the seller to finalise the home-buying process. At Real Lending Solutions, we guarantee that you receive the required support at every step as we guide you through navigating the loan procedures to buy your dream home. ### What Makes Asset Finance the Smartest Decision for Your Business? Today, businesses have many commercial finance options. But, as they say, with choices comes the hard part of making the big decision. This is where asset finance comes into the picture. It is one of the easiest available and flexible forms of finance that caters to different industry types and businesses. Asset finance is one type of business finance. This type of finance happens when you and a leasing company enter into a lease agreement to hire a piece of equipment rather than making the purchasing decision. Here, you hire the equipment and pay a part payment, usually consented to by both parties, every month for a specified period, ranging between one and five years.  When Asset Finance Becomes a Viable Option? There are times when, as a business, you need capital to fund your buys and explore expansion opportunities or pay to suppliers. This is where this type of finance becomes a viable option. Here are other prominent reasons: If you are an SME struggling to meet your business's rising costs, asset finance can help you divide purchases into reasonable amounts. If you want the leaders to make swift decisions about delivering machinery, equipment, and vehicles. If you are looking for flexible payment options for the leased equipment, you can opt for asset finance. This enables you to pay as you go - the lease on short-term, long-term, or extended terms, as discussed during the contract signing. Since you are now familiar with the situations where asset finance can be the right call, it is time to ascertain the benefits of this type of business finance. Benefits of Availing of Asset Finance for Your Business Here are some pointers to illuminate the advantages of using this type of finance for your business. Saves Enough Cash When you choose an asset or rental lease, you pay only for the time you use the asset. There is no upfront premium that you could have spent purchasing a piece of new machinery, enabling you to get prompt returns. Allows for Better Control over Your Finances Commercial asset finance enables you to control your monthly expenses better. This way, you can effectively monitor the costs you incur for the business. Inbuilt Risk Management In the tech world, where instant upgrades are involved, asset leasing eliminates the risk of using obsolete technology. Enables You to Make Swift Decisions You can make swifter decisions about this type of business finance by opting for equipment that suits your business without lag time. Also, assets come with security, which makes it easier for you to accept them promptly. Saves Tax This type of finance can help with your tax bill. Since lease payments are categorised as expenses, they can easily be deducted from your profits. Saves You Enough Working Capital for Business Operations You can save all the cash reserves, which can be used for working capital and other expansion opportunities, as the equipment is not paid in a lump sum. Saves You from Taking Greater Risks If you are worried about making stable profits from your business, you always have a financial obligation at the back of your mind. However, when you use this type of finance, the worst that can happen is that the asset can be seized without putting other properties at risk. Opt for an Experienced Mortgage Broker for All Your Asset Finance and Business Finance Needs If you wish to purchase equipment to keep your business updated according to technology development or need working capital to run your business smoothly, choose Real Lending Solutions, a reputed mortgage broking company providing asset finance and business finance services in the Illawarra area and beyond. Contact us today, and we will help you choose the ideal finance option for your business. ### Haven Extras Summer 2019 Haven Review Whether you’re embracing a meat-free day each week, living a vegetarian lifestyle, or just wanting to try some brilliant new flavour combinations, Veg ticks all the boxes. Jamie Oliver describes his new book by saying: “It’s all about celebrating really good, tasty food that just happens to be meat-free.” Up your vegie intake and widen your recipe repertoire – add an utterly delicious veg dish to your Christmas table this festive season. We can guarantee even your committed carnivores will be won over!Penguin Books RRP $49.99Haven FactsOink, oink – make sure you buy an Australian ham for ChristmasDid you know that over 70 per cent of the ham and bacon for sale in Australia is made using imported pork? While all of the fresh pork that you buy in this country (roasts, chops, steaks, fillets etc) is 100 per cent Australian-grown, unfortunately, most Australians have no idea about the origin of the pork used in their ham, bacon and pork smallgoods. But it only takes a few simple steps to ensure the product is made using Australian pork.To support Aussie farmers, and to ensure you’re buying pork with some of the highest welfare, safety and environmental standards in the world, it’s crucial to check the label when choosing your porky products. The labels can tend to be confusing, so if you care about where your pork is originating from, visit the Australian Pork website pork.com.au/how-to-buy-australian-pork for a full rundown on understanding the labelling system.If you’re partial to a Christmas ham, make sure the one on your table this year is made from Australian-grown pork. You’ll be supporting our farmers and know you’re getting fresh, great tasting Aussie ham!See Haven Food for a delicious glaze recipe to help you create a centerpiece-worthy Christmas ham at your place.Thank you to Australian Pork for this information.Haven Food   Redcurrant, spice & balsamic glazed hamPrep time: 25 minutesCook time: 1 hour 15 minutesServes: 17 peopleIngredients1 x 7-8kg ham leg, skin removedSpiced redcurrant & balsamic glaze1 cup redcurrant jelly¼ cup brown sugar½ teaspoon all-spice½ teaspoon ground cinnamon2 tablespoons caramelised balsamic vinegar½ teaspoon sea saltPreheat oven to 180C (160C fan-forced).To make the glaze, combine all ingredients in a medium saucepan. Bring to the boil, stirring occasionally, over medium-high heat. Reduce heat and simmer for 6-8 minutes or until slightly thickened. Set aside to cool slightly.Meanwhile, using a sharp knife, score the ham fat lengthways in 1cm intervals. Wrap the ham hock with foil (this prevents it from burning).Place ham on a greased rack in a large baking dish lined with foil (see tip). Brush ham fat with half of the glaze. Roast for 55-65 minutes, brushing (basting) with remaining glaze every 15 minutes, until ham is golden and caramelised.Slice and serve warm or cold.Tips:If preferred, for ease use a large disposable foil roasting dish.To serve: remove the foil and wrap the hock in baking paper, a strip of fabric and secure with string then wrap with a ribbon – perfect for the Christmas table.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Stretch your bathroom budget without breaking it If you’re looking to renovate or redecorate your bathroom there are lots of ways to get a great result without breaking the bank. Redoing your bathroom can be extremely costly but the good news is that it’s also one of the easiest places to make savings.According to the Housing Industry of Australia’s Kitchens and Bathrooms Report 2018/191, most people tend to spend between $16,000 and $20,000 on the job. But if you’re smart, and follow a few of these tips, you can get a great outcome for as little as $2,000 to $3,000. It all comes down to planning well and being a bit clever as you go.01. WORK OUT YOUR BUDGET.Before you decide what you want to do, work out how much you want to spend. Keep it affordable and don’t over-capitalise. The amount you have will largely determine the approach you’ll take. Don’t worry, you can do a lot with a little bit of money and a lot of care.02. FIND THE RIGHT PEOPLE FOR THE JOB.No matter what you do, one of the biggest costs is labour. Getting a good tradesperson for the job is essential. The best bet is to ask friends, family and colleagues for good recommendations. Or you can go online to find someone local who has good reviews on Google or other sites. Don’t just find one – once you’ve got a plan, get at least three quotes and remember that cheapest isn’t always best.03. DO IT YOURSELF.If you’re handy, you can save a lot by doing the work yourself. If you haven’t had much experience you can find helpful articles and videos online, or speak to someone at your local hardware and bathroom supplies shop. A good strategy is to do the simpler things, like painting, and leave the trickier tasks to an expert.04. PLAN TO YOUR BUDGET.Have a very good idea of how the room will be used by you and your family, what you want to achieve, and research the costs of items before you start. This is the time to get your quotes too. Always leave a bit of room in the budget to splash out on something special. Spending a bit extra on one thing to create a feature can give the feeling of a much higher value renovation.05. DON’T CHANGE THE PLUMBING.If you want to totally change the layout of your bathroom, you’re going to have to change the plumbing for your taps, showers, baths and toilets. This can get very expensive. The easiest way to avoid this expense is to keep the plumbing the way it is and update the fittings.06. THINK ABOUT THE TILES.Like the plumbing, tiling can get expensive. There are many ways to keep costs down, without sacrificing a stunning finish. You don’t need to tile all the way to the ceiling – halfway or two-thirds up can look great.Go for an inexpensive, simple tile and add a more expensive one as a trim or feature. Or do something interesting with the layout, like herringbone or brick patterns.If there’s a pricey European tile you like the look of, chances are there’s a cheaper version from China or Thailand that can give you the same look without the high price tag.And for a really cheap option, it’s easy to remove grubby, mouldy grouting. Fresh grouting and a bit of elbow grease to clean up the old tiles will make it all shine like new – this is a good one to try yourself.07. PAINT IT.Painting is one of the most inexpensive ways to make a big change. And it’s something you can do yourself if you get the right tools and take time to prepare the area. Use plenty of painters’ tape and go slow around the corners, edges and any fittings or furniture you’re keeping. It’s a room that’s high in moisture, so make sure you get good quality paint that stops mould growing.08. FIND THE RIGHT FIXTURES.Things like taps, showerheads, baths, towel rails and lights really help finish the look of a bathroom. The trick here is to shop around. Like the tiles, if a European model catches your eye, there’s probably a good quality piece that’s similar in look but at a much lower cost. Also look for superseded stock or items with minor damage that have been heavily discounted.This is also a great place to save on some items and spend more on something special to lift the feeling of the room, like some designer lights, a waterfall showerhead, or a huge mirror to increase that feeling of space.09. CHOOSE FURNITURE CAREFULLY.Needless to say, customised fittings are expensive. Some of the big retailers have good-looking, ready-to-go pieces you can build and install yourself. If it’s cupboards with a built-in vanity, think about adding some special tapware to make it uniquely yours. There’s a big choice of all sorts of items so it’s good to search online and instore for the pieces that are right for you at the right prices.10. REUSE, REPAIR, UPCYCLE.Buying secondhand is smart. Sift through Gumtree and you may find everything you’ll need. You can even find treasures like classic old mirrors that bring something unique to the space. It also works both ways. Selling the items you’re not keeping is a good way to put a little bit back in your budget.Anything made of porcelain, a cast iron bath, or vintage fittings can be refinished to look like new and give you many more years of use. You can even do it yourself with a bit of advice and tools from your local hardware store.Repurposing or upcycling old furniture can look fantastic. One trend now is to take old cabinets and place a sink in the top to create something distinctive. Old wooden ladders make fantastic towel racks, and a timber bookcase is perfect for storing extra towels and adding some personal finishing touches.1 canstar.com.au/home-loans/bathroom-renovation-costAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### There’s a lot more than the big four Why smaller lenders are making a big change in banking.The history of Australian banking has always been dominated by the big four – ANZ, Commonwealth Bank, NAB and Westpac. But more Australians than ever are now turning to smaller lenders and non-banks to finance their home loans.Is your loyalty worth it?Many of us have gone to one of the big four for a home loan because maybe we had our first savings account from them when we were young, and probably because that’s where our parents banked. They’re also the best known so there’s always been an element of trust and, of course, loyalty to the one you’ve always been with.There is a growing feeling that this trust and loyalty hasn’t always been repaid. Some of the bigger lenders have yet to pass on the full amount of recent rate cuts. The people with loans from these banks are potentially paying more than they should be. Our Federal Treasurer is calling this a ‘loyalty tax’. Now could be the right look for a deal that suits you better.Think small.These days you have a lot more choice than the traditional big names in banking. In recent months the RBA’s official rate has gone from 1.5 per cent to 0.75 per cent.One of the main benefits of smaller lenders to the mortgage market is the competition they create. Without the established market share of the bigger banks, they’re forced to be more competitive. The simplest way to win customers from the big four is to offer lower interest rates.A bit of healthy competition is a good thing for those of us with mortgages. It gives us choice and, best of all, keeps the big banks honest – forcing them to make their products, rates and loan features more attractive. Rather than banks having all the power and setting the scene, this gives more power to the people. The banks have to fight for our business.The benefits of smaller lenders.Choice. All lenders, big and small, provide competitive interest rates and fees at different times and to different customers. It pays to shop around. The prospect of saving money is a pretty good reason to switch loans.Fully featured loans. In the beginning, simply providing competitive rates and fees with no-frills products was how the alternative lenders won customers. But in the years since, competition and the maturity of the lenders now sees them offering a suite of fully featured loans with redraw facilities, offset accounts, online services and credit cards.Fewer overheads. There are a few good reasons why the smaller lenders can operate by charging lower rates and fees. Because of their size they have fewer people and branches to support. The online-only lenders have no network of bricks and mortar branches. And most also have much lower marketing budgets to sustain.Different business models. Some of these lenders, like credit unions and building societies are also customer owned, meaning their focus is on providing value to their members, not paying dividends to their shareholders.Customer focused. The Big Four have faced their challenges with maintaining a reputation for good customer service. Like rates and fees, this has always been an obvious place where the smaller lenders can take on the banks. A good way to see whose customer service is better than others is to talk to friends and family and check out customer reviews on industry rating and review websites.A choice of loans.It is true that each big bank might have a larger selection of loans than each individual smaller lender. If you’re searching for a new loan and compare the big banks with each other, you’ll probably see more of the same style of loans. But if you ask me to include smaller lenders in the search, your choice goes from the tens to the hundreds, making it much more likely you’ll find the most suitable loan for your individual needs and goals.This extra choice has resulted in more Australians than ever now choosing non-major lenders for their mortgages. According to the AFG Index1 the market share of non-major banks has climbed to 46 per cent, the highest levels since the GFC more than a decade ago.Apart from getting a good deal, customers now trust the smaller lenders more than ever. And there’s no reason not to. Big or small, they are all governed by the same rules, regulations and obligations. Again, it pays to do your research and review.A difficult choice.As we said before, including smaller lenders on your list of options opens you up to a choice of hundreds of loans. So how do you find the right one for you?That’s where we come in. As mortgage brokers, we keep up to date with the market and we are in constant contact with most of the lenders. The easiest way to work out if a small lender is a good option for you is talk to us. Just give us a call and we’ll take you through all the pros and cons of the lender and their products to find the loan that’s right for you.1 afgonline.com.au/learn/low-interest-rates-and-property-market-recovery-drive-record-home-loan-activity/Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### The lowdown on dropping interest rates How can you make the most of record low interest rates?Many people believed that the low RBA cash interest rate, that had remained unchanged over the last couple of years, was about as low as it would go. But in the last few months the Reserve Bank of Australia (RBA) has dropped it three times, taking the official rate from 1.5 per cent to 0.75 per cent. The question is, why has the RBA dropped it so much, and what does that mean for you and your mortgage?The short answer is that the economy is not performing as the RBA would like. The good news is that employment is growing, but productivity and inflation growth are not. This means wages are not going up either, and this flat growth means we don’t have as much in our pockets, so we’re not spending as much as we used to, and this is hurting the economy.KICK-START THE ECONOMY.The RBA wants to stimulate the economy and its growth by reducing the size of loan repayments. It’s good news for homeowners who’ve been working hard to make payments and will now have a bit of extra cash to spend on things they may have been going without. Businesses are more likely to expand, invest and create new jobs. And more people will be able to get a loan to buy a house, which is already helping inject a bit more life into the property market.SO WHAT SHOULD YOU DO?The RBA wants you to do your bit for Australia and start spending, but is this the best thing for you? There are a few different things you can do.Don’t do a thing.If your home loan is variable, your lender should reduce the rate of interest you’re being charged and give you the option of reducing your repayments accordingly. The money you’re saving is what the RBA wants you to start putting into the economy to help give it the boost it needs. So, if you’re thinking of buying yourself something special, at least you can tell yourself you’re doing it for everyone.Start shopping around.You’ve probably seen in the news that some lenders aren’t passing the full cuts onto their customers. If you’re not happy with your bank’s rate it’s a good time to shop around for a loan from a lender that has passed on all the rate drops. It’s important to review and compare your loan on a regular basis, so please get in touch to make a time to review your current situation – I’m here to help you.Keep your repayments the same.If you’re used to what you’re paying you might be happy to keep paying it. With your required repayments being lower, you’ll be paying off more of the principal, which not only reduces the amount your interest is charged on (reducing your required repayments even further), it means you’ll take months or years off your loan.Save the money.With rates this low, you’d have to think it’s inevitable they’ll go up one day. Rather than making extra payments you can choose to put the extra cash into savings to build a buffer for any future rises.There are smarter ways than simply putting money into a basic savings account. Many loans have a redraw facility which lets you put extra payments into a loan, reducing the principal and interest, and allowing you to take out the extra money if and when you need it.Or there is an offset account – a separate account that’s linked to your loan. Any money in this account will reduce the amount of the loan that interest is calculated on, but the funds are always available for your use if you want them. Even having your salary paid into an offset account will help reduce your interest charges for the time the money is in the account.Pay off other debt.Now is a great time to pay off that car loan or credit card that’s attracting higher interest rates than your home loan. Not only will you be reducing your debt, you’re also improving your financial position in the eyes of a lender, which is important if you’re thinking of refinancing or borrowing more to buy your next home.Invest in a holiday.Maybe your payments have forced you to sacrifice doing some of the things you’ve always wanted. Now might be a nice time to consider making a personal investment in some aeroplane tickets, and keep the RBA happy by keeping it in Australia with a trip to Broome or the Barrier Reef.Get in touch.The best thing about the low interest rates is that you have a little extra in your pocket you can use to help secure a better financial position for you and your family. So perhaps the first thing you should do is chat with us. We would be happy to organise a place and a time to take you through all your options and show you how you can make the most of the interest rate drops based on your individual circumstances and goals.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate unchanged at 0.75% The Reserve Bank of Australia (RBA) has delivered its final cash rate announcement for the year with the decision to leave the rate unchanged at 0.75%.In making the decision the RBA appears to be assessing the impact on the broader economy of the three previous cash rate reductions together with recent tax cuts, government spending on infrastructure and signs of improvement in the resources sector.The RBA will be keeping a close eye on household consumption and the GDP numbers being released later this week as it stays focused on the aim of restoring inflation to within its target range of 2 – 3 %.I’m here to work through the different rates available from our wide panel of lenders with you and I’m always available to ensure you have the right financial solution for your current and future circumstances.If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch with me.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate unchanged at 0.75% he first cash rate decision for 2020 has been announced by the RBA with the rate unchanged at 0.75%, as it assesses the economic threat posed by the bushfire crisis and the coronavirus outbreak.The Reserve Bank will have been encouraged by positive employment, inflation and house price figures and will be hoping these threats do not undo these recent gains.Lenders continue to review rates independently of the RBA. It is therefore important to review your lending options regularly to ensure they remain the most suitable for your situation.I’m here to work through the different rates available from our wide panel of lenders with you and I’m always available to ensure you have the right financial solution for your current and future circumstances.If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch with me.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for February 2020 We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Anne Marie, and she’s won a $500 Bunnings voucher. Congratulations Anne Marie! Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Is this the year of the first home buyers? Many first home buyers now have access to a new government scheme that could get them into their first homes years sooner.Housing affordability is a key challenge for many younger people who are struggling to get into the housing market. Despite historically high house prices levelling out and lower interest rates, flat income growth and tighter lending practises haven’t helped people get a foot in the door.This could all change this year.The First Home Loan Deposit Scheme.Supporting first home buyers to get into their own homes is something the Federal Government is very keen to do. So, it has established a new way to help. It’s called the First Home Loan Deposit Scheme and it offers loan guarantees for first home buyers who have saved as little as five per cent of the purchase price as a deposit.In general, lenders like potential borrowers to have a deposit of 20 per cent. If they have less than that, the borrower will have to pay Lenders Mortgage Insurance (LMI), which adds to the cost of a loan.The way the new scheme works is this: if you have 5 per cent of the cost of the home saved, the government will guarantee 15 per cent of the loan to take you up to the traditional 20 per cent deposit. You still have to borrow the 95 per cent that you have not saved for, but it helps a first home buyer look like a safer bet in the eyes of the lenders, in turn buying a home sooner by allowing them to access a loan under the scheme from participating lenders.Not all lenders are taking part in the scheme so talk to me about which lenders are on board.Who qualifies and how will it work?If you’re a single person earning up to $125,000 a year, or a couple with a combined income of up to $200,000, and you’ve saved at least 5 per cent of the value of the home you’d like to buy, you may be eligible for the First Home Loan Deposit Scheme.To make it possible, the government is setting aside $500 million to guarantee loans up to a value of 20 per cent of the home. Because buyers won’t have to save the full 20 per cent, they’ll be able to get into a home sooner. Buyers may also save thousands by avoiding LMI.Unlike the First Home Owners Grant, you won’t receive the scheme just because you tick all the boxes. It is limited to 10,000 first home buyers. To give you an idea, that would mean less than 10 per cent of the 110,000 first home buyers in 2018 would have access to the scheme.Support is being aimed at entry level properties, the value of which varies from place to place. The threshold on the value of the homes the scheme can be used for is different from state to state, and between cities and the country areas.* The capital city threshold also applies to regional centres with a population over 250,000 which includes the Gold Coast, Newcastle and Lake Macquarie, the Sunshine Coast, Illawarra (Wollongong) and Geelong.The easiest way to check out the threshold in an area is to use the online tool at nhfic.gov.au/what-we-do/fhldsWill the scheme help the market?The limitation to 10,000 buyers has come under criticism from some quarters as it may not be enough to make a real impact on home ownership rates. The scheme may also simply bring the purchase date forward for the few who are close to the required deposit already.Time will tell what effect the scheme has on the market but, for the people that can access it, there’s no doubt it will significantly cut down the time it takes to save for a deposit.Money for nothing?When the scheme was announced before last year’s election, Scott Morrison was quick to point out that this was not “free money”. He said, “The lenders would still be the ones lending the money. They would still do all the normal checks on the borrowers to make sure they can meet their repayments.”This is an important point. While having a significant deposit is very important to lenders, it’s not everything. There are other factors and calculations the lender will make to evaluate your financial position to work out how much you can borrow. Especially for buyers new to the industry, it can be tricky trying to find your way through all the numbers needed and knowing which boxes to tick. The other key considerations are working out which lender and loan is right for your individual needs.That’s where we come in.Because we work with the lenders every day (and remember, it’s still the lenders that will be providing the loans, not the government) we know what they’re looking for in a loan application. Today’s stricter lending practises also means some lenders are in the market for first home buyers and are competing for new customers with favourable rates and offers. The market is always changing and we’re up to date with these changes.If you need any assistance, or just have a question about the First Home Loan Deposit Scheme, please get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Looking for lemons: How to do your own property inspection. Nothing beats a professional inspection, but here’s how you can spot issues when you’re looking through your potential new home.When you first walk through a house you can often tell in an instant if it’s the one you want to buy. The question is, is it the one you should buy?A home open is a time when you look at all the positives. It’s not just the number of bedrooms, bathrooms, and a good-sized kitchen. It’s the feel of the rooms, the light, a good connection from the inside to the nice garden behind. Or maybe you love the fact that there are things that can bring down the purchase price, but you can see the potential of a fantastic renovation.Before you buy you need to leave the heart at home, and look at the home again with a cool, clear head. You should always get a professional inspection if you’re going to make an offer, but there are a few things you can do to know if you should spend the money on getting the experts in.Take another walk through the house and with these simple tips you’ll know if it’s a lemon or not.First up, there’s the easy stuff you can do yourself. Secondly, there are more technical hard things that could be good to have someone with you that has some experience in building, renovating or a trade. And lastly there’s the other stuff that’s good to consider.The easy things.Check for cracks. Small thin cracks are common in most homes that aren’t new and can easily be fixed. But larger cracks you can fit the edge of a coin into are a worry and can be a sign of movement or structural problems. These can cost a lot to fix.Sticky doors and windows. Like cracks in the wall, doors that stick can indicate the house is moving. This could mean a structural problem that might easily lead to financial problems. Windows that stick can mean the frames are warping or rusting. Often a seller will paint over these, so push into the frame with your finger. If it’s soft, it means trouble.Water, damp and mould. Wet areas like bathrooms, kitchens and laundries can be damaged by these. Check for stains, watermarks, corrosion or bubbling paint. Look around the tiles and sink, in the corners of the roof, and inside cabinets. These can indicate many problems such as plumbing leaks, poorly sealed showers and baths, and bad ventilation – some of which can be expensive to repair depending on the extent of the damage. Rising damp is also an issue, and can be detected by looking for damp patches, peeling paint, rotting skirting boards, fluffy deposits of salt on the walls and a mouldy, mildew-like smell.Use your nose. Looking at and feeling surfaces are vital, and so is your sense of smell. You can detect the mouldy aroma of rising damp and also the smell of fresh paint. A new coat of paint is often used to cover all sorts of problems, from water damage and mould to rusting metal and rotting wood.Look at and feel the walls. A coat of paint is a common way to make a wall look flat and uniform. So take your time to run your hands across it, and look at it up close and on an angle to see and feel any imperfections.Water pressure and plumbing. Turn on some taps in the house to check the pressure, see what colour the water is, and sometimes even the odour. Pressure loss and discoloured water can mean piping problems. Plumbing work can get pricey quickly so this is a simple but important test you can do.Hot water, heating and air conditioners. Check out the hot water system to see how old it is and whether it’s big enough for you and your family. Look for leaks and rust. It’s the same with any heaters or air conditioning units – ask about the age and capacity to do the job, but also find out the energy efficiency as old or big systems can be expensive to run.The harder stuff.As always, it’s not what you know, it’s who you know. If you know someone in the know about building, ask them to come along. They can help you check some of the areas that require expertise.Electrical wiring. Old houses can have old wiring that may be dangerous if not replaced. Rewiring an entire house is always expensive. Look for old switches and sockets that can give you a clue to the age. Also check the fuse box to see if it’s up to date.Pests. Rodents and insects usually like to live in hidden and hard-to-get-to places, so checking for them really takes a professional inspection. Signs to look for are droppings, traps and baits for rats and mice, while sagging floors and hollow beams can mean termites have damaged structural elements.Check the gutters and downpipes. This is less about expertise and more about physical ability. Get up and take a look in the gutters for rust, warping, holes and blockages. If there are signs the gutters have overflowed that can also mean damage to internal walls and ceilings. Make sure the downpipes are rust and hole-free and that they lead down to a drain.The other stuff.Take a good look around the entire property and be on the lookout for a few of these red flags.Trees and garden. The garden is one of the most important spaces in any home so look at the condition and the amount of work involved to get it the way you’d like it. If there are any big trees have a look at their size, age and condition and check to see if they could potentially damage your property (large tree removal can be expensive) or if their roots have been up to mischief. Don’t forget to look at the neighbours’ trees too.Pools. Look for cracks or discolorations on the bottoms and sides as well as the condition of surrounding paving. Look at the age and condition of the pumps and filters.Outside buildings. There are usually structures other than the house that need looking at, like garages, sheds, gazebos, decking and fences. Make sure they’re solid and in good condition.Of course, doing your own checks is no replacement for getting a professional inspection, but it’s a good step to take before you get one. If you think the home has real problems, you can save the money and walk away. But if it looks good, you can then get the full picture from an expert and use it as a guide to predict future costs, or even negotiate a better price from the seller.As with all things when buying or selling homes, getting expert advice along the way is a great way to make sure you’re making the right decisions and saving money.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Help after the fires Bushfires have devastated communities across Australia, but help is flooding in from business, government and individuals.Big banks and small lenders have been quick to step up with a raft of measures to ease the pressure on affected customers, from waiving fees and deferring repayments to fast-tracking low-interest rebuilding loans.The company that my business is affiliated with, AFG, is also supporting customers who have been hit hard by the crisis. AFG has allocated $100,000 in bushfire relief to provide one-off $1000 grants to those who have been injured or had property damaged or destroyed. As a customer of mine, if you have been affected please contact me to apply for this cash grant.LendersLenders across the country have announced a range of options to relieve pressure on customers including:Emergency cash grants.Deferral of loan and credit card repayments for up to three years.Early access to term deposits.Low-interest rebuilding loans.Free counselling.Fee-free loan restructuring.If you have lost income or property, it is important you get in touch with your lender or contact me to find out what your options are.The Australian Banking Association (ABA) – which represents 22 banks including the big four – has urged customers to get in touch with the financial hardship team at their bank to ask about special assistance (contact details at www.ausbanking.org.au/doingittough).GovernmentAll levels of government are coordinating to deliver bushfire disaster relief, with immediate aid to those who have been left homeless and re-establishment grants to uninsured homeowners and tenants.FederalThe Government has established the National Bushfire Recovery Agency with an initial $2 billion funding allocation for 2020/21. Announcements so far include:The Disaster Recovery Payment, a one-off grant of $1000 per adult and $400 per child, for those who have lost income or been adversely impacted.The Disaster Recovery Allowance, providing weekly income support for up to 13 weeks.Grants of up to $75,000 to farming businesses in fire-affected regions, to be administered at a state level (yet to be finalised).$76 million in bushfire-related mental health support including up to 10 free counseling sessions through Medicare.StatesMost states have common disaster-related concessions including free re-issuing of identification documents (such as passports, driver’s licenses and birth certificates) or government permits.NSWApplications are open for the Rural Assistance Authority’s Disaster Recovery Grants of up to $15,000 in funding and concessional loans for eligible primary producers, small businesses and not-for-profits in affected local government areas.VictoriaEmergency Relief Assistance of up to $560 per adult and $280 per child (up to a maximum of $1,960 per household) is available, along withEmergency Re-establishment Payments of up to $42,250 for those without building or contents insurance. Phone 1800 961 054.TasmaniaBushfire-affected residents can access Emergency Assistance Grants of $250 per adult and $125 per child (up to $1000 per family). Also, Recovery and Restoration Grants provide uninsured owners or tenants with up to $9,400. Phone Communities Tasmania on 1300 665 663 or visit TasALERT.Rural Business Tasmania is funding crisis aid grants of $2500 to affected farmers.South AustraliaThe SA Department of Human Services has a run-down on assistance including: grants of $10,000 to help fire-affected small businesses get back on their feet; and up to $15,000 through Primary Industries and Regions South Australia (PIRSA) for primary producers.CharitiesAt a local level, there are many organisations delivering support, from BlazeAid and WIRES wildlife rescue, to Foodbank and local rotaries. But a vast chunk of donations, including a $40 million contribution from the Federal Government, is being distributed via major charities.Red CrossWith more than $60 million in donations, the charity has bumped emergency grants from $2000 to $5000 per household for people who have lost homes in bushfires since July 2019.Salvation ArmyThe Salvos have received $40 million in donations since November to fund cash grants, emergency catering and free financial counselling. Phone 1300 662 217.St Vincent de PaulThe society is helping deliver food vouchers, clothes, financial aid to cover pressing bills and interest-free loans. Phone 13 18 12.Financial and legal assistanceOnce the physical danger has passed, the financial impact of bushfires can seem overwhelming. Plenty of free advice services have jumped onboard to offer guidance and support.National Debt HelplineThis free advice line offers trained counsellors and advice on how to prioritise finances after a disaster. Phone 1800 007 007 or visit www.ndh.org.au.Insurance Law ServiceFree legal and home insurance advice with pointers on how to approach a claim. Phone 1300 663 464.Rural Financial Counselling ServiceThe Federal Government had provided $15 million to fund additional free counsellors to advise rural businesses. Phone 1300 834 775.Australian Tax OfficeThe ATO has automatically deferred lodgments and payments due for individuals and businesses in fire-affected postcodes, with a statement that reads: “Now is the time for you, your family and community. We’ll help you sort out your tax affairs later.”AccommodationAcross the country more than 2600 homes have been destroyed, leaving thousands of people homeless. Alongside charities and government agencies, businesses and ordinary Aussies have opened their doors.Find a bedThis pop-up organisation shows how one person can make a huge difference. On New Year’s Eve, a NSW student tweeted an offer to open paddocks at her home to animals that needed to be relocated. Within days she was inundated with offers and requests for help to rehouse animals and humans. Find a Bed is the result. There are now more than 3,500 homes registered on the volunteer-run site, which links those who need help with those offering help.Oaks HotelsThe chain of 53 hotels has offered seven nights’ free accommodation to those who have lost homes in bushfires from October 2019 to January 2020. The offer is valid until June 30, 2020 at any Oaks properties across the nation.AirbnbThe company’s Open Homes program is coordinating free temporary accommodation in NSW and Victoria for relief workers and fire evacuees.TelecomsStaying in touch with loved ones and keeping abreast of fast-developing fire warnings has put communications front and centre throughout this crisis.TelstraAs of January 6, Telstra’s national payphone network and wifi hotspots were made free until further notice for all local, national and standard mobile calls to ensure people can reach help when they need it. The retailer has also waived December and January mobile phone charges for all customers who are volunteer fire fighters.VodafoneThe company has increased data allowances for all customers in bushfire zones and granted free mobile access through December and January to volunteer fire fighters, SES workers or wildlife rescue volunteers. Those who have lost homes can access a free 4G Pocket Modem and three months’ free mobile broadband.OptusThe carrier has deployed “SatCat” mobile satellite cells to bolster coverage in areas where fires have compromised local towers. Optus has also waived bills for December and January for volunteer fire fighters and SES workers.Road to recoveryRebuilding from the 2019/2020 bushfire season will be a long, slow process for affected communities and individuals. Extinguishing blazes is only the start of the journey, but those who have not been directly impacted can help.To put it bluntly, cold hard cash rather than donations of goods are needed. You can help by giving to the charity of your choice, or take a different approach and spend money at small businesses in affected communities. Social media campaigns #emptyesky, #spendwiththem, #buyfromthebush and #stayinthebush have gained huge traction in encouraging people to jump online or into their cars to buy from rural shops.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Autumn 2020 This brave, beautifully written memoir from Brisbane comedian Corey White is brutal, darkly hilarious at times, unflinchingly honest, heart wrenching and yet through it all, so hopeful. It is a powerful story of childhood trauma, evil, resilience and the survival of the human spirit against all odds. An important, cleverly written debut that while difficult to read, you will not be able to put down. White has told a story that will stay with you for a long time.Penguin Books RRP $32.99      Haven Likes   A cup of JoeWe all know we shouldn’t be using paper takeaway coffee cups that are piling up in our landfill (and can’t be recycled due to their inner lining). Do your bit to support an Australian small business while imbibing your caffeine requirements from a vessel that looks like a piece of art. This gorgeous, hand-painted, ceramic takeaway cup is from a boutique ceramic studio in Noosa. All of their work is produced by hand, using clays sourced from our Australian landscape.kwceramics.com.auBamboozled toothy pegsDid you know that in Australia we use more than 100,000,000 plastic toothbrushes each year, and that it takes more than 500 years for a plastic toothbrush to decompose? Do the switcheroo to a Bamkiki toothbrush and do your bit to care for Mother Nature by reducing plastic landfill. The Aussie owned business makes toothbrushes from bamboo that is 100 per cent biodegradable and sustainably sourced. The Melbourne business even offers a clever subscription service, delivering a regular re-supply to your door so you never need to reorder.bamkiki.com.au  Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Autumn 2020 Acts of kindness “No act of kindness, no matter how small, is ever wasted.” – Aesop Have you been the recipient of an act of kindness that completely blew you away? We are looking for a feelgood story about an exceptional act of kindness, be it from a random stranger or someone you know. In no more than 350 words, tell us your story for the chance to win $1,000. How: send your act of kindness story, in 350 words or fewer, to  havencompetitions@afgonline.com.au placing ‘Kindness’ in the subject line. Include: your name, address, email, phone number and the name of your mortgage broker. Dates: opens on February 14 and closes on April 13. Winner: will be decided on April 14 and notified by telephone after this time. Haven Competition Terms & Conditions Haven Answers Congratulations to Karin, who has won $1,000 in the ‘Australia’s Big Things’ competition from our last edition of Haven, with her entry of a nostalgic childhood photo in front of South Australia’s Big Lobster and its ripper accompanying yarn. Here is a pic of us coming home from a camping adventure along the South Australian south coast outside the Big Lobster in Kingston, circa 1980’s. In the trailer is our trusty tent and camping gear. We are in one of our beloved Triumphs, this fine motor vehicle had a gorgeous vinyl rollback sun roof, almost the size of the whole roof. Problem was during this trip she leaked as it rained and rained. We tried pushing tissues into the side of the sunroof but they got saturated and fell on our heads.Our thongs were floating in the water in the footwells of the car, that was ankle deep by the time we got home. I remember so much laughter from this trip. We loved that car so much, and our feet were pretty wrinkly by the end. Dad now drives a Holden Colorado – but we still have that trailer!   Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate decreased at 0.50% The cash rate decision for March has been announced by the RBA with a rate cut.The RBA has reduced the cash rate to a new record low of 0.50% in response to the economic threat posed by the coronavirus outbreak and bush fire crisis.Whilst the Reserve Bank would have been encouraged by recent economic data confirming continued house price increases and business investment, the dangers to the economy posed by the virus and fires and fears of a recession left the RBA with little option but to reduce rates.Lenders continue to review rates independently of the RBA. It is therefore important to review your lending options regularly to ensure they remain the most suitable for your situation.I’m here to work through the different rates available from our wide panel of lenders with you and I’m always available to ensure you have the right financial solution for your current and future circumstances.If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch with me.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for March 2020 We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Dean, and he’s won a $500 Bunnings voucher. Congratulations Dean!Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA has reduced the cash rate to a new record low of 0.25% Today, the RBA announced an out-of-cycle emergency rate cut to help the Australian economy withstand the impact of COVID-19.The RBA has reduced the cash rate to a new record low of 0.25%.If the COVID-19 crisis is affecting your financial situation, please get in touch so we can formulate a plan to manage your loan repayments during these unprecedented times.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for April 2020 We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Anqi, and they've won an Apple watch. Congratulations Anqi!Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Helping clients through COVID-19 As the world grapples with the unfolding COVID-19 situation, I wanted to let you know we are committed to helping our clients through what will likely be difficult and challenging times ahead.To help you navigate the COVID-19 situation we have pulled together some useful links and information.If you run a business there are a number of national and state based government initiatives that are now in place to help:Small Business Support – https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-businessSole Trader support – https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/support-available-for-sole-tradersTemporary relief for financially distressed businesses – https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/temporary-relief-for-financially-distressed-businessesIncreasing the instant asset write off – https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/instant-asset-write-offCoronavirus and Australian workplace laws – https://coronavirus.fairwork.gov.au/coronavirus-and-australian-workplace-lawsIf you have a home loanThe reactions of the lenders to the out-of-cycle RBA rate cut have been wide ranging. If you would like to check you are still getting the home loan that suits your needs, please get in touch.If you have lost your jobIndividual affected by coronavirus – https://www.servicesaustralia.gov.au/individuals/subjects/affected-coronavirus-covid-19Lender hardship contact details – https://marketingcdn.afgonline.com.au/website-assets/Smartonline/covid-19/Hardship-Contact-Details_v002.pdfMaking financial decisions – https://moneysmart.gov.au/covid-19Early access to superannuation – https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/early-access-to-superannuationFair Work Ombudsman – https://coronavirus.fairwork.gov.au/coronavirus-and-australian-workplace-laws/ending-employment-during-coronavirusMental health supportLife line – https://www.lifeline.org.au/get-help/topics/mental-health-and-wellbeing-during-the-coronavirus-covid-19-outbreakHeads up for small business – https://www.headsup.org.au/healthy-workplaces/for-small-businessesImportant general links:Australian Government, Department of Health: https://www.health.gov.au/news/health-alerts/novel-coronavirus-2019-ncov-health-alert/what-you-need-to-know-about-coronavirus-covid-19How to protect yourself: https://www.health.gov.au/news/health-alerts/novel-coronavirus-2019-ncov-health-alert/how-to-protect-yourself-and-others-from-coronavirus-covid-19Australian Government, The Treasury: https://treasury.gov.au/coronavirusGovernment of Western Australia: https://www.mediastatements.wa.gov.au/Pages/McGowan/2020/03/COVID-19-economic-response-Relief-for-businesses-and-households.aspxGlobal: https://www.investopedia.com/government-stimulus-efforts-to-fight-the-covid-19-crisis-4799723Travel: https://www.smartraveller.gov.au/news-and-updates/coronavirus-covid-19This is a tricky time for us all, but together we can get through it. I hope you and your families remain safe and healthy during this time.Please don’t hesitate to get in touch if I can help.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA has announced the cash rate to be unchanged at 0.25% The cash rate decision for April has been announced by the RBA with the rate unchanged at 0.25%.Just 19 days ago the RBA announced a .25% emergency cut in response to the economic threat posed by the COVID-19 crisis, reducing the rate to its lowest ever level.In response many lenders reduced fixed rates however most did not adjust their variable rates.If the COVID-19 crisis is affecting your financial situation, please get in touch so we can formulate a plan to manage your loan repayments during these unprecedented times.I can help you secure the right deal for your circumstances from a wide panel of lenders offering home loans with great features, low fees and competitive interest rates.If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Here is how I can help right now As we all adapt to the COVID-19 situation, I’m set up to help you now over the phone and with a range of online tools and calculators to support you through these difficult times.Here’s some questions I can help answer:Thinking about purchasing or refinancing?Can I save repayments by switching to another loan?Am I better off if I lowered my current repayments with my existing loan?What are the benefits of a Variable versus a Fixed home loan? Is now the right time to look at changing?Do you need to change your financing arrangements?In a few minutes, using a COVID-19 Action Plan calculator, I can show you how different scenarios could affect your loan balance, interest and maturity dates.What should I consider if I enter a loan deferral arrangement?How would my loan repayments change if I switched from Principal and Interest to an Interest Only loan?How do I apply for Financial Hardship?With many different Government incentives available, my advice is to stick to reputable government sources for information on these incentives. For your benefit, I’ve outlined some resources on the Government incentives available and general information below that may help.The Federal Government Jobkeeper and Jobseeker programsStimulus payments to householdsLatest Coronavirus newsSupport for businesses and employersIf you have any questions regarding your current situation, please don’t hesitate to get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for May 2020 ”We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Robert, and he's won a $500 Bunnings voucher. Congratulations Robert! Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate remains unchanged at 0.25% The cash rate decision for May has been announced by the RBA with the rate unchanged at 0.25%.The Bank has previously signaled it considers the current rate to be the floor, with many analysts predicting it will remain at this level for some time as the economy recovers from the impacts of COVID-19.If the COVID-19 crisis is affecting your financial situation, please get in touch so we can formulate a plan to manage your loan repayments during these unprecedented times.Since the RBA announced a .25% emergency cut on 19th March reducing rates to their current level, many lenders have adjusted their own rates.I can help you secure the right deal for your circumstances from a wide panel of lenders offering home loans with great features, low fees and competitive interest rates.If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Winter 2020 Australia's best mulletDo you or someone you know sport a mullet that Billy Ray Cyrus would be proud of? We’re on the hunt for Australia’s most impressive mullet. Send in a photo of your mullet-crowned noggin for your chance to win $1,000.How: send your photo to havencompetitions@afgonline.com.au placing ‘best mullet’ in the subject line, letting us know who is in the photo and including a backstory if there is one.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on May 15 and closes on July 15.Winner: will be decided on July 16 and notified by telephone after this time.Terms and conditions: email havencompetitions@afgonline.com.au to request terms and conditions.By regaling us with their stories of kindness, our readers have reminded us of the goodness the human spirit is capable of. Congratulations to Heather for her winning story. With the first half of 2020 throwing us more than a fair share of challenges, remember to be kind to each other – you never know who might need it.Heather’s storyLet’s start by saying I’m a psychologist. And a well-seasoned one at that. When I had my children, there were many expectations I would handle it without a worry, perhaps even be a shiny role model for others to follow. Then there came the reality slap. And it hurt. One day burns brightly in my mind and if you’re a parent, the situation may be all too familiar. Mothers, small children and shopping centres should not interact. But I did not heed the warnings. In I blew, with baby hastily placed in a pram and a hyperactive toddler holding my hand. The target… purchase a few things. Within moments, baby was screeching – high pitched and piercing. The toddler had knocked fruit and bread off any shelf within reach, and when that became boring had wriggled out of my hand and proceeded to engage me in a game of supermarket tag. With tears in my eyes and a heart bursting with exhaustion and frustration from mindless sprinting up and down aisles, we eventually made it to the checkouts, only to see they were at least three people deep. I told myself to breathe deeply, superglue grip my toddler’s hand and ignore onlookers’ stares. And then it happened. My toddler in all of his Tassie Devil-frenzied tantrum got hold of the hem of my skirt and pulled my skirt down to my ankles. Mother-knickers on full display. White thighs in all their glory. A mother frozen in time. And then came the miracle. From an unknown cloud, an angel wearing a Coles uniform appeared, grabbed my skirt, lifted it back up around my waist and gently ushered me to a previously closed counter. Here she scanned my items with lightning speed, uttered words of comfort and support and her eyes held all the kindness of a person who you knew genuinely cared and understood. I went on my way after that, dignity only slightly restored, but forever in appreciation of small acts of kindness.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### How we can help manage your mortgage in the crisis. In this time of economic instability, we know that jobs and mortgages are of the highest concern to you, the Government and the lenders. With things changing on a daily basis, we’re perfectly positioned to help.As the response and effects of COVID-19 on our health and economy continue to develop, we’ve all been forced to try and keep up with how our world is changing by the day.Shutdowns, lockdowns and social distancing have had a huge impact on businesses and employment. It’s no surprise that for many, the fear for our financial health is as big a concern as our physical well-being.A mortgage is the single biggest financial obligation for most Australians. How we can manage our loan repayments during the crisis is vital to how we can get through this.And helping you through this is where a mortgage broker can help.Since March, the Federal and State Governments have been releasing billions of dollars in assistance and stimulus packages, as well as changing some rules and regulations to support people and businesses.The lenders have also been actively supporting both business and personal customers by reducing and freezing repayment obligations and changing interest rates, fees and terms, among other things.And as all these continue to change, the good news is one thing hasn’t – we’re here, keeping up to speed with all these changes and dealing with the lenders on a day-to-day basis.So, if your income has dropped, we can help take you through your options (even now you do have some). Here are a few things to think about.Should you freeze your mortgage?For many, the chance to pause payments on the home loan for a few months is a welcome short-term relief, taking the pressure off cash flow and savings. But this may not be the right thing for you. The payments you miss will increase your debt in the long-term. It’s important to think carefully before making any decision and consider all your choices. There are several other things you can do instead of pausing your mortgage.Firstly, you can keep paying your mortgage. Don’t get lured in by the ability to pause just because it’s there. If it’s possible to keep up with payments, then you’ll be reducing future repayments and interest.You can minimise your payments. You may have room to move on what you’re paying, or you can negotiate with your lender about going interest-only, and maybe reducing your interest rate. We can help you with that.If you’re also getting slugged with high-interest rates on credit card repayments, you can consolidate your debt into your home loan which has lower rates over the longer-term. If you do decide to do this it is very important to understand that it could end up costing you more in interest if you repay the additional balance over the full 25 or 30 year home loan term.Some of you will have been saving for a rainy day. It is worth pointing out that we’re in a massive storm with huge downpours right now. Maybe this is that day you’ve built up a buffer for? You could choose to use some of your savings on your mortgage.There are other features in loan products that can help. A redraw facility lets you withdraw any extra payments you’ve made into your loan. An offset account, which any salary or payments can be made into, uses its balance to reduce the balance of your home loan. This in turn reduces the interest you’re paying off. It is important to understand the difference between the two options. With a redraw facility you are drawing back the amount that you are ahead of the scheduled loan repayments and this may require the lender’s approval. An offset account operates in much the same way as a normal deposit account and the funds are yours to withdraw at any time.Fixing your interest rate is another way you can reduce your payments. Interest rates are at an historic low and lenders are trying to assist customers where they can. One way some are doing this is by dropping their rates on short-term one or two-year fixed loans.Is now a good time to refinance?That’s a tricky one. With people losing jobs and income, businesses closing or ‘hibernating’, and the economy going in the wrong direction, there is a lot of uncertainty out there and that equates to risk for lenders.For those with a lower income or insecure work situation, seeking a better rate from your existing lender could be a good option. And for those with strong, safe jobs, we may still be able to secure a better deal for you, even in these uncertain terms.And that’s one of the most important services we can provide you with. We work for you, not the lenders. We can go into bat for you and negotiate on your behalf to get a better rate or terms for you. Because we deal with the lenders every day, we know what they can offer. Now, more than ever, it pays to have us in your corner.What about a new home loan?If your income has dropped significantly, you’ll have trouble borrowing what you could before this crisis. What’s more, we’ve noticed lenders are understandably taking a more conservative approach to new applications.Having said that, your situation and needs are unique to you and we know what different lenders are looking for. You may still have good options, and with an expected drop or flattening in real estate prices, you may not have to borrow as much as before.If your income is still good and your business or industry looks to be strong throughout the coming months then there could be some opportunities for you out there. Lenders will still be looking for good, lower-risk customers. This, coupled with low-interest rates, lower real estate values and borrower-friendly conditions on many loans, could put you in a position to take advantage of a very unique set of circumstances.So, what’s right for you?Everyone’s circumstances are different, and this crisis has affected each one of us in different ways. It may not feel like it, but there are likely options available to you right now. We can work with you to understand your circumstances and marry up your situation to the help being provided by lenders and governments.With so much uncertainty right now, it’s our job to stay up to date with what’s happening in home loan lending and provide you with guidance to get through. When this is all over, we all want to be in the best position possible to bounce back.As a broker, we like to start with a good chat so we can go through options available to you. While we would normally meet you somewhere convenient for you, under the current circumstance we can setup a virtual face-to-face catchup via a videocall or over the phone. And as always, at a time that suits you.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Working out your tax claim, now you’re working from home. You’ve turned your home into a home office during COVID-19. So, what can you claim on your tax return and how do you claim it? Fortunately, the ATO has now made it easier than ever.If you are one of the hundreds of thousands of Australians now working from home thanks to social distancing measures, part of your house has become your workplace.After the stockpiling of toilet rolls and pasta subsided, a second purchasing rush got underway. With working from home on so many agendas, stocks of desks, stationery, monitors, printers, office chairs and noise-cancelling headphones ran low around the country as home offices were quickly cobbled together.Work-related phone use is up, the internet is being pushed to its limits – for work and binge-watching TV – not to mention increased power use with everyone at home, all the time, every day.Working from home, you’ll find yourself personally paying for things your employer would usually cover at your place of work.The good news is, if purchases and costs are work-related, chances are some or all the costs may be claimed on your next tax return.We’ll run through the traditional ways to claim for working from home expenses and also provide details on the ATO’s new temporary simplified method, introduced especially to apply to the current COVID-19 crisis time period.Here’s what you can claimIn the eyes of the ATO, there are three main types of work-related expenses that you may be able to claim for – running expenses, occupancy expenses, and phone and internet.Running ExpensesFirstly, it’s important to identify a specific space in your home that is the home office or workspace. If it’s a room that’s used for different things, like a dining room, or a shared space like a living room, then you claim for the time that you have exclusive use of the area.In short, the ATO allows you to claim for the work-related proportion of your household running expenses. These include:Utility bills for lighting, heating and cooling.The cost of cleaning your workspace (this doesn’t include untidy desks or every room you’ve sat down in with your laptop).The decline in value of your office equipment, computers and furniture, and the cost of maintenance and repairs to these. If you need help to work out depreciation, google ‘ATO depreciation tool’.Buying other necessary items like stationery and printer ink.Occupancy ExpensesIf you’re an employee, you generally can’t claim a deduction for rent, mortgage interest, property insurance, land taxes and rates – so capital gains tax (CGT) won’t apply. But if you are running a business from home, and claiming occupancy expenses, there could be CGT implications.Phone and InternetWorking from home means you’ll be using your phone and internet a lot more for work. You can claim a deduction for the work-related proportion of your expenses, if you have records to support your claim – which brings us to the next part…How can you claim?Let’s be honest, working from home isn’t easy if you’re also trying to keep young kids occupied, supervise online schooling, avoid the snacks in the fridge and getting distracted with chores like hanging out a load of washing. Right now, working out your claim is something else you’d rather not have to deal with.Fortunately, the ATO is simplifying the way to claim work-from-home expenses during the COVID-19 crisis.Before self-isolation and social distancing came into effect – and most of us were probably working from our employers’ premises – there were two ways to work out what you could claim.First is the diary method. For four weeks you record how much time you spend in the home workspace, compared to others who use it. The work-use proportion you end up with is applied to all your expenses over the year.The other method is the fixed rate calculation. You use a fixed rate of 52 cents per hour for each hour you work from home. Instead of recording all your expenses for heating, cooling, lighting, cleaning and the decline of the value of furniture, you add up your hours and multiply it by 0.52 to find the dollar value.Other running expenses like phone and internet, computer consumables and stationery, and depreciation of your computer needs to be worked out separately. And you’ll need to keep receipts and phone accounts and identify work-related calls.But the ATO has now made claiming much easier.A new shortcut has been introduced to make it easier to claim expenses if you’re working from home during the current COVID-19 crisis. For the period from March 1 to June 30, you can now claim a rate of 80 cents per hour for all your running expenses, rather than needing to calculate costs for specific running expenses. And all you’ll need to do is keep a record of the number of hours worked from home.If more than one person is working in the same house, all of you can claim. A couple living together can each individually claim the 80 cents per hour rate, and to simplify thing further, you no longer must identify your specific workspace.So now there are three ways that you can choose to calculate your additional running expenses for the March 1 to June 30 period:Claim a rate of 80 cents per work hour for all additional running expenses.Claim a rate of 52 cents per work hour for heating, cooling, lighting, cleaning and the decline in value of office furniture, plus calculate the work-related portion of your phone and internet expenses, computer consumables, stationery and the decline in value of a computer, laptop or similar device.Claim the actual work-related portion of all your running expenses, which you need to calculate on a reasonable basis.Just remember, the existing methods still apply to all working from home expenses before March 1.The Government will review these changes and possibly extend them into the next financial year, depending on when work patterns return to normal.Things are changing daily and this article is intended as a general guide, rather than specific tax advice. Ideally, you should seek professional tax advice from an accountant or visit the ATO website for further information.Tax advice: the information in this article does not constitute advice. This article has been written for general informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. As taxation legislation is complex, we recommend you speak with your tax advisor, financial advisor or contact the ATO for further details and expert advice regarding your personal circumstancesAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Working from home done right  Now that we are in the habit of isolation and social distancing, how good are your habits of working from home?With so many Australians now working from home, as businesses continue to do their part to help stem the spread of the coronavirus, we’re learning that WFH isn’t always what it’s cracked up to be. The divide between home life and work can quickly blur. Distractions are everywhere and can be very difficult to avoid (who knew that drawer needed reorganising just as you’re meant to be writing that report?). Even with the possibility of isolation restrictions easing as we continue to flatten the curve, this unprecedented time has shown many of us that WFH can be done well. And who knows how this time may influence the way that we work in the future? For some, splitting their working hours between the office and home may even become the new normal.By now, you’ve probably worked out how to deal with many of the issues, but here are our top seven tips for working from home success.1. GET YOUR WORKSPACE WORKING WELLIdentify the place where you’ll work and stay there most of the time. That’s not a couch, a bed or a camping chair set out on a balcony. It needs to be a desk or table where you can sit up, and somewhere quiet if possible (or don some noise-cancelling headphones).It’s a good habit to keep it tidy, and if you’re not the neat and tidy type, at least have some order to it – you’ll work more effectively.Because you’ll spend a lot of time at your workspace, it’s important to set it up correctly. Put your laptop on a stack of books or a box to get the screen at eye-level (or even better, set up a separate monitor screen to hook into your laptop). And importantly, use a separate keyboard and mouse. Your neck and back will thank you in weeks to come. It’s all about the ergonomics.A good chair is important too, but also try working from a stand-up position if you can from time to time, just to mix things up a bit. More books and boxes are handy for this to raise your laptop up further.2. GO TO WORK LIKE YOU’RE GOING TO WORKTry to do some of the things you’ve always done when you go to work. This helps create a division between your work and home life. Get out of your pyjamas and dress in something that looks good on your video meetings. Dressing for work will psychologically make you feel like you’ve got work to do (even if it’s just newsreader style: business at the top and tracksuit pants on the bottom).Create a start time and stick to it. And at the other end of the day, finish at a specified time if you can.Another tip is to get ready for work and then go for a walk around the block or garden to replicate your commute and to get you into a working headspace. When you get back go straight to your desk and start the day.And don’t forget your morning coffee if that’s something you usually look forward to.Going for a walk as soon as you finish work is also a really good way to leave work behind and get back to your home self.3. PLAN YOUR DAYStart and finish times are important and it’s equally important to make a plan for your whole day. At the end of the day, make a to-do list for the next day, or start your day by making one.Make a schedule for the day and allow time for breaks. If you have kids at home, schedule time for them in your day. It’s part of the reality of being at home, and the better you plan for it the better you’ll be able to take care of all your responsibilities.4. KEEP IN TOUCHBy now you’re no doubt well acquainted with the plethora of virtual meeting platforms being used to connect with co-workers. Zoom, Teams, Google Meets, Skype and so on are vital tools for working well together from a distance. But don’t forget to reach out for a non-work-specific chat too. Casual discussions with your workmates are an important way to help prevent feelings of isolation. Touch base with colleagues, see how each other is going and if there are ways you can help each other out. It’s nice to know someone is there for us when we need them.5. DEALING WITH DISTRACTIONSIt’s not easy being at home all day, every day. Kids, partners and pets can make demands on you at any time. Suddenly you’ll feel a great need to pick up that guitar and play for the first time in five years. Snacks from the pantry and fridge are a constant temptation. Washing needs folding. Facebook needs visiting. Instagram posts need liking.Some of these distractions just need willpower to ignore. Other ones, like your family and pets, you should make time for. Put them in your schedule, and if they need to disturb you when you’re working, just accept it if you can. Let your kids visit your video chat and say hello. It helps them understand what you’re doing when you’re at your desk.Household chores can wait or be made part of your daily work routine during breaks. And maybe take up the guitar again – just do it after your work time.5. GET UP AND GET OUTIt’s not healthy to stay seated at your desk all day. Health professionals encourage you to get up once or twice an hour to stretch your legs. You could combine it with getting a drink of water. A short walk before work or eating lunch outdoors are both good ways to get some fresh air and clear the head.A stand-up desk setup is a great way to avoid sitting all day long. And an occasional change of scenery, like moving to work for a while at the kitchen bench or outdoor table can reenergise and keep you productive.6. END YOUR DAY WELLJust as getting a good start to the day is important, finishing well is a good way to divide your work from home. Set a time to finish. Leave your desk and go for a walk before coming back to the living space. Get out of your work clothes and get back into your civvies.Just remember, in the end it’s best to work out what works best for you. Even though we’re in isolation, we don’t need to feel isolated.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Winter 2020 With 7.1 million Instagram followers (including a slew of celebrities such as Tom Ford, Cindy Crawford, Robbie Williams and Reese Witherspoon), Celeste Barber is a big deal online. Celeste wears many hats: she is an Australian national treasure, comedian, actor, queen of Insta satire, writer and during our February bushfire crisis – the powerhouse behind the raising of more than $51 million in donations for the Rural Fire Service. Celeste’s hilarious #celestechallengeaccepted posts, where she calls out our obsession with celebrity Instagram culture by recreating their (ridiculous) social media posts, are nothing short of comedic gold. This bestselling book is part memoir, part comedy routine and part advice manual. It’s a raucous, hilarious and outspoken guide to life and keeping it real.HarperCollins RRP $19.99     Connecting those who have with those who needJuliette Wright had a brilliant idea after questioning if there was a better way. The Brisbane mum started her innovative not-for-profit GIVIT in 2009 when she wanted to give away her young son’s baby clothes. Unable to find an alternative to dropping the unworn clothes into a whiffy charity bin, GIVIT was born. Juliette set about creating an automated website that matches generosity with genuine need. The site connects a network of givers so every charity in Australia can obtain exactly what they require. GIVIT’s free service is now used by more than 3,000 registered Australian charities and agencies to list the specific needs of their disadvantaged or crisis-impacted clients. The real-time listing allows everyday Australians to see what items are required. The process preserves the dignity and privacy of those accessing support because the charity or agency takes care of the exchange. The platform is like a virtual warehouse connecting those who have with those who need. Charities and agencies no longer have to store, sort and dispose of unwanted items, saving their valuable time and resources.In the decade since GIVIT’s inception, more than 640,000 quality, essential items have been donated to assist impoverished, vulnerable and marginalised Australians. GIVIT has also been engaged by both State and Federal Governments to manage the offers of goods and services during emergencies such as cyclones, floods, bushfires and the current COVID-19 crisis.GIVIT offers three ways to donate. You can give in response to a specific item listed on the website, you can give an item for donation or you can pledge a cash donation. To see what items are needed in your community, visit www.givit.org.au – something sitting unused in your garage could be waiting for a match on GIVIT today.   Plum chocolate cakeAs we’re coming towards the end of plum season, if you can’t find plums you could replace them with pears – which also match beautifully with chocolate. If using pears instead, you will only need two. And slice them rather than halving, since their flesh is firmer than plums they will need to be thinner to cook through.4 ripe plums1⅓ cups plain flour2 tsp baking powder¼ tsp salt½ cup brown sugar½ cup caster sugar¼ cup cocoa powder½ cup butter at room temperature1 large egg1 tsp vanilla extract½ cup milk1 tablespoon sugar, to sprinkle on topPreheat oven to 175C. Line a 22cm round cake tin with aluminum foil (overhanging the foil over the sides of the tin) and lightly grease.Cut the plums in half and remove the stones.In a bowl combine the flour, baking powder and salt.In a bowl cream together the two sugars and butter until pale and fluffy. Beat in cocoa powder, followed by egg and vanilla and mix until smooth. Blend in one-third of the flour mixture, followed by half the milk. Add in half of the remaining flour mixture, followed by the remaining milk, then add the last of the flour mixture. Stir only until everything just comes together (with no streaks of the flour mix remaining) – don’t over mix. The consistency will be like a fairly stiff batter.Spread batter into the cake tin. Arrange the plum halves (cut side up) around the outside of the tin, placing one or two in the center. Gently press the plums into the batter. Sprinkle the top with the extra sugar.Bake for 50 minutes, or until a skewer inserted in the center comes out with just a few moist crumbs attached.Cool completely in the tin, then lift the cake out using the aluminum foil overhang.This is delicious served with thick cream. Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA’s cash rate for June unchanged at 0.25% The cash rate decision for June has been announced by the RBA with the rate unchanged at 0.25%.The Bank withstood calls for further reductions, with some commentators suggesting negative interest rates remain a future possibility.Whilst the RBA will be mindful of concerns around the rising value of the Australian dollar and its impact on exports, reductions in property prices and uncertainty around employment post JobKeeper, it stuck by its view that a rate of .25% is an appropriate floor.If the COVID-19 crisis is affecting your financial situation, please get in touch so we can formulate a plan to manage your loan repayments during these unprecedented times.I can help you secure the right deal for your circumstances from a wide panel of lenders offering home loans with great features, low fees and competitive interest rates.If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### HomeBuilder, what you need to know If you have been thinking about building a new home or carrying out an extension or renovation, now might be the time to meet with an AFG broker and work through your options.The Federal Government’s new $680 million HomeBuilder program announced on 4 June 2020 makes available $25,000 grants to help build or substantially renovate your home.How does the HomeBuilder program work?*The scheme is only available for contracts signed between 4 June 2020 and 31 December 2020Construction must commence within three months of the contract dateIt is means-testedOnly available for principal place of residenceLimitations on the kinds of renovations (sorry, no tennis courts) and subject to a total value capIf you’re a first home buyer, there are a range of first home buyer and state government grants, stamp duty concessions and rebates as well as the federal First Home Loan Deposit Scheme and First Home Super Saver Scheme that are available and work in conjunction with the HomeBuilder grant.I’m here to help so please get in touch.* The information provided on the HomeBuilder program is a selection of information taken from Australian Government sources and is current as at the date of this email. It does not contain all information that may be relevant to you.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA’s cash rate for July remains unchanged at 0.25% The RBA has announced that the cash rate will remain unchanged for July with rates remaining at 0.25%.The RBA is mindful of rising concerns around unemployment post-JobKeeper, falls in housing and home loan approvals, decreasing property values and decreasing credit growth. The RBA maintains the stance that negative interest rates are not the best option for the economy at this point.If the COVID-19 crisis is affecting your financial situation, please get in touch so we can formulate a plan to manage your loan repayments during these unprecedented times.With lenders continuing to offer very competitive rates, we can help review your situation to ensure you have the right loan for your circumstances.If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA’s cash rate for August is unchanged at 0.25% As expected, the Reserve Bank of Australia kept the cash rate at 0.25% at its meeting today as the country continues to deal with the COVID-19 pandemic.The RBA, conscious of reductions in consumer spending, further falls in house prices and the flow on economic impact of stage four restrictions in Victoria, has consistently stated that it sees a cash rate of 0.25% as the floor.With rates at a record low and lenders continuing to offer very competitive rates, why not review your situation to ensure you have the right product for you right now?We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for July 2020 Congrats to our July Winner – Courtney wins an Apple watch!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Courtney, and she’s won an Apple watch. Congratulations Courtney.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for August 2020 Congrats to our August Winner – John wins an Apple watch!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is John, and he’s won an Apple watch. Congratulations John.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Spring 2020 Show us your shedIt might be hanging with spiderwebs and lined with lovely old carpentry tools from another time, a serene hideaway for an artist’s creative pursuits or a tricked-up man cave kitted out with every mod con you could possibly dream of. We want to see our readers’ interesting or old-school backyard sheds. Send us a photo that shows off the interior of your shed, and if it captures our attention $1,000 might be on its way to you. Feel free to include the shed’s owner within their domain in the photo.How: send your photo to havencompetitions@afgonline.com.au placing ‘Shed’ in the subject line. If someone is featured in the photo, let us know who it is.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on August 14 and closes on October 12.Winner: will be decided on October 13 and notified by telephone after this time.Terms and conditions: email havencompetitions@afgonline.com.au to request terms and conditions.Judging from the entries received for our last Haven competition, the mullet is alive and well in Oz! Congratulations to proud mum Bev, who has submitted these photos of her son Jack, who sports a very impressive mullet.“These photos are of my son Jack, who has had a mullet for 12 months, and has even started a school mullet Instagram account (much to the disappointment of some school staff members!). His inspiration was AFL Western Bulldogs player Bailey Smith, who cut his hair into a mullet last year to raise money for the Royal Melbourne Children’s Hospital.”Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Take the stage: How to stage your house for sale, on a DIY budget If you’re planning on selling or renting your home, a little styling effort can make a big difference to the financial outcome.It’s not rocket science that taking the time to make your house look good is essential to get the best sale price or find a tenant quickly. As with most things, you can seek professional help, and spending money to make money isn’t a bad idea. But while engaging professional expertise can be worth the spend, not everyone is in a position to pay for a professional stylist. With just a few simple tips and a bit of your time, it’s easy to style your house yourself, on a budget.Home staging is all about showing your home’s best side to the market. People need to quickly see the positives and be able to visualise themselves living a great life there. Rather than seeing it as a cost, you should look at staging as an investment in time and money. So, do you do it yourself or get someone in?IS PROFESSIONAL HELP WORTH IT?Using the services of a home staging specialist is certainly a good option. As a general guide, you’re looking at anywhere between $2,000 for a basic service to $10,000 for a big home. It’s not just initial advice, a package will include furniture and homeware hire and last for several weeks.But if your budget can’t stretch to engage a professional, there are ways to do it yourself. It’s estimated that staging your home for sale can increase your sale price by up to five per cent. If, for argument’s sake, you can get a 2.5 per cent increase on a $600,000 home, that’s a tidy $15,000. Not a bad result for doing a few of these simple things that don’t need to cost you a lot.MAKE THEM FEEL AT HOME.Remove as many personal items as you can – things like family photos, your framed uni degree, personal objects, sporting memorabilia, knickknacks, and the finger painting your toddler did at day-care. By taking away reminders that someone else is living there, it’s easier for people to imagine themselves making a home there.CREATE SPACE.Space is a luxury and something that people attach great value to, be it living areas, storage areas or just a general feeling of openness. Make your place feel more spacious, lighter and brighter with these tricks:Mirrors create the illusion of space by taking whatever natural sunlight you have and bouncing it around the room. Trawl Gumtree and Facebook Marketplace for inexpensive mirrors to hang in every room. You can even make a feature of a large mirror by sitting it on the ground leaning up against the wall. If the room has a window, try positioning the mirror opposite to reflect it for bonus light (or a view).Open up doors, both inside and outside, and raise the curtains and blinds to fill your home with free-flowing spaces and natural light.Rearrange furniture to open up the rooms and create an easier traffic flow through the house. Consider putting some pieces into storage to further help create an illusion of space.Declutter cupboards, wardrobes and drawers. People love storage (and will open your cupboards during the inspection!), if you reduce the amount of stuff kept in storage spaces, they will naturally look more spacious.DECLUTTER AND CLEAN.It’s time to channel your inner Marie Kondo. It’s not just the storage that needs decluttering, it’s your whole place. Less is more. Clutter doesn’t just get in the way; it gets in the way of people seeing your property at its best. Pack as many items away as you can to create a sense of tidiness and order, then get to cleaning everything else. Dusting objects, wiping surfaces, vacuuming carpets and mopping floors to make the home look sparkling is a non-negotiable.GREEN IS GOOD.Indoor plants have made a big style comeback of late and are a marvellous way of bringing life to a room. If you don’t have the budget to buy nicely potted plants for every room, you could try borrowing some for a short time from a green-thumbed family member or friend.ORGANISE YOUR SHELF.Style shelves, cupboards and drawers. In the kitchen pantry, use matching jars and storage containers. If you have a bookcase, regroup the books according to the colour of their spine to create a clever colour block impact. In wardrobes, organise clothes by type and colour – and try using matching hangers. In your linen cupboard, try to match linen colours, textures and types (and if you have too many of any item, store some of it away from your home).BLING UP THE BATHROOMS.We don’t mean adding gold tapware. Install a feeling of luxury by using matching, fluffy white towels. Swap out the generic supermarket soap dispenser for a more luxurious brand such as Aesop. A fresh, new shower curtain is a cost-efficient way of making over the room.5-STAR THE BEDROOM.Make up the beds to look like they belong in a boutique hotel. Think matching linen, double pillows, cushions and throws.MAKE A GOOD FIRST IMPRESSION.An open and welcoming entrance makes a great first impression. Open the gate, buy a new doormat, add a pot plant alongside the front door and declutter the hallway to create room to enter.In the end, the trick to successful DIY staging is not overspending and reducing the gain of any increase in value. And if you can remember one thing, it’s that people want to be able to visualise themselves living in a new home, and if they see what they like, they’ll pay a little more to get it. It’s your job to show them the potential for a great new life in your home.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### At your expense: Why taking control of your living expenses is more important than ever A combination of tighter home loan lending regulations and the uncertainty in our new COVID world have made looking after your living expenses an essential part of creating a more secure future for you and your family.Many people are finding out the hard way that it’s not as easy to get a home loan approved as it used to be. The simple reason for this is that financial regulators have set tighter rules for lenders. Now they are required to look more closely at your daily living expenses to get a better idea of your ability to make your repayments now and into the future. Plus, as your broker, the mortgage broker ‘best interests duty’ that was recently legislated means that, unlike a staff member at a bank, there will be legal obligations for me to find you a loan that is best suited to your circumstances.All of this is not such a bad thing. No-one wants to get a loan that’s too large and puts them under financial stress. By understanding what lenders are looking for and budgeting better, you’ll reduce your spending and start saving more. This makes you look much better in the eyes of a lender, in turn hopefully getting you the home you’ve been looking for.In this new COVID reality, there’s a potential bonus. We all saw on the news the long lines of people at Centrelink and the reports that many have no savings to fall back on. In these times we all need to plan for the unexpected and be more self-reliant – government support won’t last forever.Cutting back on living expenses and saving more for a rainy day can provide a real safety net – it’s something we should all consider (while still supporting local businesses, of course!).Why are lenders looking more closely at our living expenses?In the aftermath of the GFC and cheap and easy credit, many people were no longer able to make repayments on their home loans. For some, their homes dropped significantly in value, making the mortgages larger than the value of their home.To make sure this doesn’t happen again, the regulators now require financial institutions to lend more responsibly. As a result, lenders need to make detailed assessments of your ability to make repayments. This means they look at how you spend your money every day.The old way they did it was to use the Household Expenditure Measure, or HEM Index for short. This basically uses average living expense figures to estimate living costs. These values change if you are single, a couple, have kids, and so on. It follows that the larger the family the greater the expenses.Now they still use the HEM Index to get a basic picture, but they also require a detailed breakdown of where, when and how much you’re spending.A rough estimate isn’t enough – you’ll have to detail all your costs. Lenders may also look at your bank account transaction and credit card statements for the last three months or more.While this may seem a bit scary, the good news is that if you really cut back and watch what you spend for three months, you’ll look like a much better borrower to the lenders. Of course, it’s important that you only cut back to an amount that can be maintained after you get the loan.The most important thing to understand is what lenders look at when assessing your spending. You can work out where the easiest changes can be made.Lenders break it down into a variation of these categories.1. House and property costs. This includes things like utilities – water, gas and electricity – as well as council rates, land tax and property maintenance and costs.2. Communications and streaming subscriptions. Paying for your telephone and data, and the internet, as well as streaming services like Netflix, Stan, Foxtel, Disney and Spotify can all add up. It’s easy to save some money by moving to a better phone plan and reducing your services.3. Food and groceries. If you buy it at the supermarket it pretty much falls under this category. This can be a significant amount, especially if you’re feeding a family, so try to look for savings here.4. Recreation and entertainment. All the fun stuff! Eating at restaurants, movies, concerts, alcohol, tobacco, gambling, club memberships, magazine subscriptions, gym memberships, pet care and holidays are included here. What can you live without to save money?5. Clothing and personal care. Clothing, footwear, cosmetics, and even things like getting your hair and nails done are covered by this.6. Medical and health. Many of these are necessities so it could be harder to save here, but this includes all doctors’ expenses, dental, optical and pharmaceutical expenses.7. Transport. From public transport tickets and Ubers to motor vehicle running costs like fuel, servicing and registration, plus parking and toll costs. One thing to note is vehicle insurance is included elsewhere.8. Education expenses. You’ll need to account for books, uniforms, excursions and any other costs for school, university or TAFE, plus school fees if your children are in private schools.9. Childcare. If you have children that need childcare, whether it’s at a centre or a home nanny, you’ll need to state these costs.10. Insurance. Health insurance, home and contents, motor vehicle, life insurance and income insurance are all important. Rather than get rid of any, consider shopping around for less expensive policies.11. Everything else. Most of the other categories cover it all. But if there’s anything else, it needs to be included.Whether you’re looking for a new or first loan, refinancing, or negotiating a rate change, it’s important you always demonstrate to the lender that you can meet the proposed repayments. Reducing your discretionary expenses for a few months will help identify where your savings could improve. Remember that a lender will assume this is ongoing, so make sure the reduction is sustainable in the long term.As a broker who deals with the lenders every day, we know what they look for. It’s our job to make sure you can do all you need to get the right loan for you. Taking control of your living expenses is just one important part of a bigger picture. If you’d like to get help securing a new loan, please get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### JobKeeper, home loan holidays and mortgage stress: What happens next? If you are experiencing mortgage stress, now’s the time to get on the front foot with your lender. As your mortgage broker, we can help you prepare and plan for the unknown.It’s no surprise that the outbreak of COVID-19 has caused a huge increase in mortgage stress. According to the Australian Banking Association (ABA), more than 485,000 mortgage repayments were deferred between February and June this year.IS THE CLIFF COMING?Experts and commentators have been warning us of the impending cliff that’s coming. Lenders have been giving borrowers a pause on their mortgage repayments. These breaks were due to end soon, but with the support of APRA, lenders have recently announced an extension of deferrals until the end of March 2021. At the same time, JobKeeper and JobSeeker programs were only promised until September. Fortunately, JobKeeper and JobSeeker are not coming to a sudden stop. There is now a clearer outline of the next stages, allowing people to better prepare for what may come next.A MORE GRADUAL REDUCTION IN SUPPORT.JobKeeper and JobSeeker were announced early on in the Government’s response to the unfolding crisis. What would happen after the first six months wasn’t announced and everyone’s fear was that the end of the assistance would be devastating. The schemes have been widely regarded as a success and fortunately the Government is looking at a more gradual reduction in payments. At this stage, the JobKeeper payment will continue to be available to eligible businesses until March 28.JobKeeper will be being reduced in two steps. From the end of September, full-time employees will go from $1,500 a fortnight to $1,200. And then, at the beginning of the new year on January 3, it will drop to $1,000 a fortnight.For part-time workers, which is people working fewer than 20 hours a week in February this year, JobKeeper will be halved to $750 a fortnight from the end of September. In the new year it will make a less drastic reduction to $650 a fortnight.If you’re receiving JobKeeper, it’s not an automatic transition to the new amount. Businesses and employees will need to apply for the extension after the initial JobKeeper finishes on September 28. Once again, employers and sole traders will have to demonstrate a 30 or 50 per cent reduction in turnover, depending on the size of their turnover, in the September quarter (compared with the same period in 2019). The second extension will commence on January 3. To qualify for this stage, a business will need to show a loss for the December quarter.It’s also worth noting that the JobKeeper payment will continue to be made available to new recipients, as long as they meet the eligibility requirements and the turnover tests that apply during the relevant JobKeeper payment period.JobSeeker is also changing. The $550 coronavirus supplement paid each fortnight is being reduced to $250, but the base rate is staying the same. So, the total payment will go from $1,115 down to $815.To make up for this reduction, the Government is allowing those on JobSeeker to earn $300 a fortnight, up from the current $106. The intention is to encourage people to get out and get work, without having to worry about losing their financial support. And, from the beginning of August this year, you’ll have to actively be looking for work to stay on JobSeeker.HOW WILL YOU FEEL AFTER A MORTGAGE HOLIDAY?Like many people you may have taken up your lender’s offer of a mortgage repayment pause. While this can certainly help in the short-term, there are long-term ramifications you should watch out for. The lenders aren’t just giving you these payments for free. Instead, the amount of interest you missed is getting added on to the principal of the loan. This is called interest capitalisation.In short, after the mortgage pause you will have a bigger loan and your repayments will likely be more than before the ‘holiday’. And things like monthly fees (based on the size of your loan) could be added to your loan balance.HOW CAN YOU AVOID MORTGAGE STRESS?Your circumstances are unique, and our world is shifting week to week. Changes in the economy, society, health, employment and government support will affect every one of us in different ways. Knowing how government support is being delivered is one thing. If you are receiving this support, it can help you plan for the next few months. But there are many other things you can do to protect your financial well-being and avoid mortgage stress. For instance, should you swap to an interest-only loan? With interest rates at a historic low, is it a good time to fix your loan? Or split your loan? Or is there a more suitable loan out there that could help save you money? Maybe you’re fortunate enough not to have had an income loss during this time and therefore might be considering opportunities to invest in the property market.In these times, it’s a good idea to reach out and get help. And that’s why we’re here. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.While sometimes it can feel like things are out of our control, you can take control of your mortgage. Get in touch and we can help you find the financial product that’s right for you, right now.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Spring 2020   After most of us were forced into a gentler, slower pace of life due to COVID-19 restrictions, the idea that we’re hard up against a cult of busyness isn’t lost on many. Why has busyness become such a badge of honour and what does it mean to your wellbeing? To unpack this topic, psychologist Claudia Hammond draws on ground-breaking research – ‘The Rest Test’ – the biggest global survey into rest ever undertaken. Rest (distinct from sleep) is how we unwind, calm our minds and recharge our bodies. Rest isn’t an indulgence; it’s a critical part of a well lived life. We need to start taking rest seriously as a method of self-care and this book outlines how. It explains why rest matters, examines the science behind the results to establish what really works and offers an accessible roadmap for a more restful and balanced life. A&U Canongate RRP $29.99   Virtual challenges and real life medals Is having a fridge within arm’s reach during months of lockdown making your clothes inexplicably shrink? Are you feeling bereft having lost the chance to travel to far-flung destinations in the foreseeable future? The Conqueror Virtual Challenge combines fitness with virtual travel by guiding you along virtual challenges of famous routes around the world. Ever fancy walking the Inca Trail or swimming the English Channel? Now you can, virtually, and with your real-life exercise contributing towards your achievement. You choose a challenge, and then your everyday exercise (everything counts: walking, running, swimming, cycling, yoga, CrossFit, gym workouts etc) is applied against the route. As you exercise, you can see yourself advance along a map. As an example, the Great Ocean Road challenge takes you 240km along this spectacular route in Victoria. Each time you complete your exercise you advance along the Great Ocean Road. The challenges are a clever tool for maintaining focus and motivation, whether you’re training for an event or just want to have fun while keeping fit. Either sync with your favourite fitness tracker (such as a Fitbit or Apple watch) or log distances manually via the web or mobile app. Check out your virtual surrounds on Google Street View. See yourself and others on the map and directly on Google Street View. Each challenge can be completed over three, six, nine or 12 months. Choose a timeframe to suit your fitness level. Team up with mates or go it alone. For the competitive among us: view weekly, monthly and all-time leaderboards. You even receive a fancy medal when you finish! www.theconqueror.events         Clever kitchen hacks       Store cut herbs like a bunch of flowers Here’s a tip for making cut herbs last. Place them upright in 5cm of water just as you would a bunch of flowers in a vase. Change the water regularly and keep them out of direct sunlight.   Microwave lemons to release more juice A lemon will release more of its juice if you microwave it whole and on high for 20 seconds before juicing it.   Easy peasy tomato peeling Making a pasta sauce or salsa for tacos? It’ll be silkier without the tough tomato skin, but peeling a tomato can be fiddly. Using a sharp knife, score an X at the stem end of the tomato and then drop it into boiling water for 20 seconds, remove and transfer straight into iced water until cool enough to handle. Presto – the skin strips will easily pull away. Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate for September remains unchanged at 0.25% The Reserve Bank of Australia has today kept the cash rate at 0.25% for the sixth straight meeting in a row.The RBA will be closely monitoring the impact of the COVID-19 shutdown in Victoria and uncertainty surrounding the pace of a national recovery.It has previously stated that it sees a cash rate of 0.25% as a floor but may need to consider the merits of a further reduction against other stimulus options, if signs of a recovery fail to emerge.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for September 2020 Congrats to our September Winner – Karen wins an Apple watch!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Karen, and she’s won an Apple watch. Congratulations Karen.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA’s cash rate for October unchanged at 0.25% The Reserve Bank of Australia has today kept the cash rate at 0.25% for the 7th straight meeting in a row.The RBA was widely predicted to reduce the rate further in October or November, although with the Federal Budget due today, the majority favoured a Melbourne Cup rate cut in November.It has previously stated that it sees a cash rate of .25% as a floor but may need to consider the merits of a further reduction against other stimulus options, if signs of a recovery fail to emerge.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for October 2020 Congrats to our October Winner – Shell wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Shell, and she’s won a $500 Bunnings voucher. Congratulations Shell.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### The announcement that stops the nation, cash rate decreased to 0.1% As the country tunes in for the 2020 Melbourne Cup, the cash rate decision for November has been announced and rates have been cut.In response to the economic impact being caused by the COVID-19 crisis, the RBA reduced the cash rate by 0.15% to a new record low of 0.1%.In making this change the RBA has confirmed the views of many analysts that further stimulus is required to aid Australia’s recovery post Covid.It had previously stated that it sees a cash rate of 0.25% as a floor however it has softened its stance on a reduction more recently.In the lead up to its next meeting our central bank will continue to monitor world events such as the second round of European lockdowns and the US election, while closer to home it will be hoping the easing of restrictions in Victoria and the opening of state borders will provide a lift to the economy.As you’re probably aware, lenders review rates independently of the RBA and some may decide to pass this rate decrease on to customers at different levels over varying time frames.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for November 2020 Congrats to our November Winner – Richelle wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank you gift. This month’s winner is Richelle, and she’s won a $500 Coles Myer voucher. Congratulations Richelle.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Summer 2020 The Australian Women's Weekly Children's Birthday Cake Book  RRP $19.99First published in 1980, this iconic book has been loved for generations and is the go-to kids’ birthday cake bible for so many Aussies. Its success is a phenomenon. Since the book’s release 40 years ago it has sold more than half a million copies. A 40th-anniversary edition has just been released, and while the train cake cover has had a modern makeover, inside everything is exactly the same.Many of us have a childhood memory of poring over the pages to choose this year’s cake. Be it the cricket pitch cake lined with a fence of chocolate finger biscuits and dusted in green coconut grass, or the Dolly Varden cake with a skirt covered in marshmallows – choosing your cake was as important a task as eating it! Once the decision was finally made, poor mums and dads across the nation were entrusted with the task of attempting to construct the masterpiece.We want to see your baking attempts from this Australian treasure. Be it a spectacular success or dismal disaster! Send in your Women’s Weekly cake baking attempt for the chance to win $1,000.How: send your Australian Women’s Weekly home decorated kids’ cake photo to havencompetitions@afgonline.com.au placing “Kids’ Cake” in the subject line.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on November 13 and closes on January 13.Winner: will be decided on January 14 and notified by telephone after this time.Terms and conditions: email havencompetitions@afgonline.com.au to request terms and conditions.What lies beneathCongratulations to Chris for winning our “Show us your shed” competition. Despite zero building experience, Chris designed and built a shed that might look as cute as a button from the outside (a mandatory since it dominates the backyard), but within it lies not only practical storage, but a fully functional home brewery.Thank you to everyone who entered. We had a stack of brilliant sheds sent in, but a cold beer on tap got this one across the line.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### What does the recession mean for you? Australia has gone into recession for the first time in 28 years. What effect could it have on you?Australia has had a very good run when it comes to continued economic growth. Twenty-eight years without a recession is a record achievement, with the previous one in 1991. So what is a recession, and what does it mean for you?What is it?The Reserve Bank of Australia has two different definitions of what a recession is. The first is a more general one:A recession can be defined as a sustained period of weak or negative growth… that is accompanied by a significant rise in the unemployment rate. Many other indicators of economic activity are also weak during a recession. For instance, levels of household spending and investment by businesses are usually low.A more technical definition is when there have been two consecutive quarters of negative growth.The 7 per cent drop in growth in the June quarter is Australia’s largest drop since we began recording data in 1959. But compared to other countries we are still in a better place. The UK and New Zealand have recorded more than 20 per cent drops, while the USA’s economy has contracted by 9.1 per cent. Hopefully, this means our economy can turn around faster than most.What’s more important than these financial definitions and figures, however, is understanding the human cost – the real day-to-day effect it has on our lives. A recession means that people lose jobs and pay drops – and that really hurts.Unemployment risesOne of the key impacts of a recession is the rise in unemployment and the long time it takes for people to get back into the workforce. Many have lost their jobs during the current crisis and others are relying on the Government’s JobKeeper payments to keep their incomes going.A financial hit like this, and the hardship it creates, have a massive toll on people’s physical and mental health. The stress and misery of losing a job, and possibly losing your house as a result, is extremely difficult and we should all look out for our family, friends and colleagues if they’ve recently become unemployed.Even before the pandemic hit, more than three million Australians were living below the poverty line. The Government support through JobKeeper and JobSeeker have helped some get out of it, but only temporarily. When the support stops, it’s predicted that more people will be living in poverty than ever before.Pay rates slipAnother key feature of a recession is that salaries don’t go up. Right now, many people have reduced hours or taken pay cuts and it will become much harder to get a pay rise. This can obviously make it harder to pay an ongoing debt, like a home loan, if you had planned for the usual continued growth in wages.Is there any good news?During this pandemic, people have been preparing for what may come. We’re not talking about hoarding toilet paper. Credit cards are being paid off faster, and people are putting more into their mortgages.It’s a recession like no other, and so things are changing in ways that are anything but typical. As lockdowns ease across the country, we are seeing some positive signs.Firstly, many people in industries that were affected by the shutdowns are now getting back to work. Canstar, one of Australia’s leading economic research agencies, reports that retail spending is growing at the fastest annual rate for 19 years. And house prices are rising in many regions.What about the property market?Melbourne has experienced a slump in property prices but, if you’re lucky enough to be in a region that is relatively free of the virus, the market is probably reasonably healthy. Some places are even experiencing record-high home prices. Not what you’d typically associate with a recession.Less than a year ago, when the pandemic started to take its grip on the world, it would be impossible to predict what it would be like right now. Now we are in a recession, and the path to recovery is still a big unknown, it’s never been more necessary to do a financial health check to get your finances and home loan in order.Interest rates are at an historical low, and most believe they’ll stay there for some time. They could even drop further. This means there are home loan products and options out there that could better protect you for whatever happens next. Protecting your savings and minimising debt is essential. And finding a loan that has inbuilt flexibility could be just what you’re looking for to help navigate the next couple of years.As a mortgage broker, we’re best placed to help you manage your mortgage in this recession. Please get in touch to talk about what you can do to be prepared for whatever happens next. Because the one thing we can be sure of is that this recession will end. They always do.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Teaching your kids how to manage money. Helping your kids get a handle on money can set them up with good habits that last forever.It’s no surprise to learn that the younger you start teaching kids about money – how it works and how to manage it – the better prepared they are for the rest of their lives. So what’s the best way to teach them?In some ways it’s getting even harder to see what money is and understand its value and role because, thanks to COVID-19 and social distancing, we’re not using cash like we used to. What was once a very visual transaction is now a much more abstract concept, with tap-and-go and online payments happening at the touch of a screen.Two sides of the coin.One way to do it is to look at it in two parts – where it comes from and where it goes. Or how to earn it and how to spend it.When you’re really young, you probably just think money comes from your parents’ purses, wallets and pockets. Kids don’t realise that one of the reasons you’re not always at home is because you’re working to earn money. Pocket money is an excellent opportunity to teach them that when you work, you get paid something in return.Learn to earn.Instead of simply giving your children a set sum each week, break it down into a few jobs, each of which has its own smaller value. The more they complete, the more they earn. Don’t do it for tasks you’d expect them to do normally, like cleaning their room, making their beds or helping with the dishes. (It is also important to teach them that some things aren’t done for monetary reward but are just part of everyday life and being part of the ‘home team’.) Let them earn their pocket money by doing things like looking after pets, cleaning the car, doing some weeding or watering the plants.Saving and spending.Now your child has earned some money of their own, it’s what they do with it that counts. Starting good habits here will help them manage their money for the rest of their lives.A popular teaching method to help them understand the abstract concept of money is to use three jars or piggy banks. Each one has its own label – Saving, Spending and Giving – and you encourage them to split their money between all three.Saving. Together with your child, set a saving goal. Think of something they can work towards – something important to them that costs a bit more but is still achievable. It should take them a few weeks or months to save for it. Once they get it, they’ll understand how good it feels to save for something, the satisfaction of being patient, and that they don’t have to spend their pocket money as soon as they get it.Spending. This is the bit of money that they can spend as soon as they get it – little treats, small toys and anything fun to reward themselves and let them spend their money the way they choose to.Giving. Whether it goes to a charity or to buy presents for family and friends, this lets them feel how good it is to share and spend money on others.And if they’ve blown all their money, it’s a good chance to make them understand that money is finite. Tell them about budgeting and work out with them how they might better divide their money among the three piggy banks. They should be able to reach their savings goals and still do the things they want to in the short-term.What now in the time of COVID?Like all things, even pocket money and saving jars have gone online. There are plenty of apps to explore and reviews to check out. The sophistication of technology may actually make these better, but the principles of earning, spending and saving are the same.While us oldies might mourn the disappearance of real cash pocket money and shaking the piggy bank to hear the coins, it may be a good thing that children learn online ways of managing money.Chances are they’ll live and work in a time when all day-to-day money is digital.The key is to include children in your own spending and saving habits. Sit them on your knee when you pay your power bill online. Show them the bill you’re paying, the account it comes out of, and where it goes. Even let them click the buttons and have a bit of fun (about the only time anyone can have fun paying a bill). The most important thing is to talk about it, explain what you’re doing and why you might not have spent the money on something you want so you can pay for this necessity.Talking about money as part of your day-to-day life is a great way to help children understand. When kids pick the next show to watch on Netflix, it feels free because it’s already there waiting to be chosen. It’s good for them to know it’s not free.Bring them into your saving and spending plans so they understand why you are making certain decisions. It helps them to realise that the reason you’re not all going out for a burger and a movie is because you’re saving for a family holiday.It’s not just big-ticket items. When the children come to the supermarket with you, get them to help make the decisions. Is it worth paying an extra 50c for something if it tastes pretty much the same? Look for special deals or the cost per 100g. Just because there’s a special on five avocados for $10, should you get them if you only need two for $5?Whether you use jars, piggy banks, apps, or something else, the one thing to remember is kids learn from your behaviour. How you spend your money, how you approach savings and how you talk about it will ultimately shape their views and behaviour and, most importantly, stop them relying on you and get them used to the idea of paying their own way.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Teaching your kids how to manage money. Mortgage approval rules are set to be relaxed to try to help the economy recover from COVID-19. But is this a good thing?To help counter the effects of COVID-19 on the economy, the Federal Government has announced plans to loosen the responsible lending laws governing the loan approval processes. The idea is to make it simpler to buy a house or refinance your current home loan. With people continuing to buy homes and building new ones, the economy will get a shot in the arm that will hopefully help get us through the pandemic. At least, that’s the plan.The proposed new laws may mean that lenders won’t have to be as strict when they verify a person’s financial details. Borrowers wouldn’t have to supply as much information, which should reduce the time and cost of getting an approval and provide fewer barriers.But the current set of laws are there for a reason. Since the Global Financial Crisis more than ten years ago, the Government imposed much stricter lending laws to help protect both borrowers and the economy.The GFC was blamed in part on the easy credit that had been going around. If you can remember the pre-approved credit cards that often appeared in your mailbox, you’ll understand. Many people and businesses ended up with loans they couldn’t realistically afford. When the credit crunch came, people couldn’t cover their repayments. The dominoes of debt all fell, which caused a catastrophic effect on the world economy.Because of this, laws were introduced to ensure more responsible lending. This means that lenders now require very detailed records of an applicant’s finances, income and spending to ensure they can meet their repayments. Lending people only as much money as they can afford to repay is clearly the right thing to do. Still, many people believe the rules are too restrictive and make the process too complicated, including federal treasurer Josh Frydenberg.“As Australia continues to recover from the COVID-19 pandemic, it is more important than ever that there are no unnecessary barriers to the flow of credit to households and small businesses,” Mr Frydenberg said.“Maintaining the free flow of credit through the economy is critical to Australia’s economic recovery plan.”The last thing anyone wants is for people to go and start borrowing too much. The proposed new laws may not require the lenders to go into as much detail as they must now. Instead, more of the responsibility will be on the borrower to make sure the information they provide is correct. It may be more of a case of buyer beware when you’re applying for a loan.Once again, a mortgage broker is perfectly placed between the borrower and the lenders. Because we are here to act in your best interest, it’s our job to ensure you get the loan that’s right for you, including with an affordable level of debt. The mortgage broker ‘best interests duty’ that was recently legislated means that there will be legal obligations for me to find you a loan that is correctly matched to your circumstances.The Government’s proposed new laws to try to help make it easier to secure a loan and buy a new home or refinance are important in helping our economy get through the current crisis. And there’s no doubt that Australians need advice and assistance more than ever.By lessening the barriers, we’re looking forward to a more efficient process that removes complexity for both the borrower and the lenders. We can spend less time on verifying every minute detail, which will help the process move more smoothly and quickly.Increasing our responsibility gives us greater control of the application process and means we can be of more service to you than ever, just when you need it most.While the new laws are not expected to come into play until March 2021, it’s a good idea to get a gauge of where you stand and how any changes can increase your options. If you want to have a chat or ask any questions, please just get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Why the Government wants to make it easier to get a home loan. Mortgage approval rules are set to be relaxed to try to help the economy recover from COVID-19. But is this a good thing?To help counter the effects of COVID-19 on the economy, the Federal Government has announced plans to loosen the responsible lending laws governing the loan approval processes. The idea is to make it simpler to buy a house or refinance your current home loan. With people continuing to buy homes and building new ones, the economy will get a shot in the arm that will hopefully help get us through the pandemic. At least, that’s the plan.The proposed new laws may mean that lenders won’t have to be as strict when they verify a person’s financial details. Borrowers wouldn’t have to supply as much information, which should reduce the time and cost of getting an approval and provide fewer barriers.But the current set of laws are there for a reason. Since the Global Financial Crisis more than ten years ago, the Government imposed much stricter lending laws to help protect both borrowers and the economy.The GFC was blamed in part on the easy credit that had been going around. If you can remember the pre-approved credit cards that often appeared in your mailbox, you’ll understand. Many people and businesses ended up with loans they couldn’t realistically afford. When the credit crunch came, people couldn’t cover their repayments. The dominoes of debt all fell, which caused a catastrophic effect on the world economy.Because of this, laws were introduced to ensure more responsible lending. This means that lenders now require very detailed records of an applicant’s finances, income and spending to ensure they can meet their repayments. Lending people only as much money as they can afford to repay is clearly the right thing to do. Still, many people believe the rules are too restrictive and make the process too complicated, including federal treasurer Josh Frydenberg.“As Australia continues to recover from the COVID-19 pandemic, it is more important than ever that there are no unnecessary barriers to the flow of credit to households and small businesses,” Mr Frydenberg said.“Maintaining the free flow of credit through the economy is critical to Australia’s economic recovery plan.”The last thing anyone wants is for people to go and start borrowing too much. The proposed new laws may not require the lenders to go into as much detail as they must now. Instead, more of the responsibility will be on the borrower to make sure the information they provide is correct. It may be more of a case of buyer beware when you’re applying for a loan.Once again, a mortgage broker is perfectly placed between the borrower and the lenders. Because we are here to act in your best interest, it’s our job to ensure you get the loan that’s right for you, including with an affordable level of debt. The mortgage broker ‘best interests duty’ that was recently legislated means that there will be legal obligations for me to find you a loan that is correctly matched to your circumstances.The Government’s proposed new laws to try to help make it easier to secure a loan and buy a new home or refinance are important in helping our economy get through the current crisis. And there’s no doubt that Australians need advice and assistance more than ever.By lessening the barriers, we’re looking forward to a more efficient process that removes complexity for both the borrower and the lenders. We can spend less time on verifying every minute detail, which will help the process move more smoothly and quickly.Increasing our responsibility gives us greater control of the application process and means we can be of more service to you than ever, just when you need it most.While the new laws are not expected to come into play until March 2021, it’s a good idea to get a gauge of where you stand and how any changes can increase your options. If you want to have a chat or ask any questions, please just get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Summer 2020     Things you say without realising you’re quoting ShakespeareA playwright, poet and actor, William Shakespeare is widely considered the greatest writer in the English language. And unknowingly, many of us quote him daily, with our modern vernacular riddled with lines from the Bard’s plays. Following are a few, how many do you use?“Wild goose chase”From: Romeo and Juliet, act II, scene IV“Nay, if our wits run the wild-goose chase, I am done, for thou hast more of the wild-goose in one of thy wits than, I am sure, I have in my whole five. Was I with you there for the goose?”– Mercutio“Green-eyed monster”From: Othello, act III, scene III“O, beware, my lord, of jealousy! It is the green-eyed monster, which doth mock the meat it feeds on.”– Iago“Good riddance”From: Troilus and Cressida, act II, scene I“A good riddance.”– Patroclus“Fair play”From: The Tempest, act V, scene I“Yes, for a score of kingdoms you should wrangle, and I would call it fair play.”– Miranda“You’ve got to be cruel to be kind”From: Hamlet, act III, scene IV“So, again, good night. I must be cruel only to be kind. Thus bad begins and worse remains behind.”– Hamlet“Heart of gold”From: Henry V, act IV, scene I“The king’s a bawcock, and a heart of gold, a lad of life, an imp of fame, of parents good, of fist most valiant.”– Pistol“Kill with kindness”From: The taming of the shrew, act IV, scene I“This is a way to kill a wife with kindness, and thus I’ll curb her mad and headstrong humour.”– PetruchioSource: mentalfloss.com  Genius barbecuing tipsGas bottle running low?The hot water test.The gas bottle running out half way through the steak being sizzled will rattle the most confident cook. Check how much gas is left by carefully pouring hot tap water down the side of the gas bottle (before you crank up the barbie, and more water is better), then slide your hand down the outside from the top to the bottom – the steel will feel warm until you get to the gas-filled part, where it will then feel cool. The key is: it’ll feel cool where there is gas remaining, and warm where it’s empty.Bereft of a wire brush?Clean a grotty grill/plate by scrunching a sheet of aluminum foil into a tight ball and scraping it over the barbecue surface – it acts like steel wool by detaching crusted-on burnt debris (this works even better after you’ve cooked and while the surface is cooling down). Half a raw onion (cut side down) rubbed against the grate works in a similar way. The onion’s moisture and acidity helps break down grime and grease (again, this is best done as the hotplate is cooling down post cook).Sit delicate fish on a citrusy bed.A piece of fish is delicious on the barbie, but it tends to fall apart as the delicate flesh sticks to the grill plate. Perch the fillet on a bed of lemon slices set directly onto the barbecue surface. Not only will this impart a smoky lemony flavour that marries so well with fish, it will stop the fish from sticking and breaking apart (added bonus: the lemon helps reduce the cleaning afterwards).Skewer soaker.Snags and steak are great, but a meat or vegie kebab is a great barbecue addition too. Keep wooden skewers from getting burnt by soaking them in water for an hour or two before threading the chunks of yumminess on. The water-laden skewers won’t dry out, char or smoke as those delicious kebabs cook.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA’s cash rate for December unchanged at 0.1% After a challenging year, the RBA has met for the final time in 2020 and decided to leave the cash rate unchanged.After reducing the rate three times during the year, including to a record low of .10% last month, the RBA opted to wait until its next meeting in February to further assess the impact of these reductions and its quantitative easing program.In the lead up to the next meeting our central bank will continue to monitor the global COVID-19, the opening of state borders, our exchange rate and its impact on export competitiveness and the looming reduction to government support packages.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for December 2020 Congrats to our December Winner – Johannes wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Johannes, and he’s won a $500 Coles Myer voucher. Congratulations Johannes.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for January 2021 Congrats to our January Winner – Lauriann wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Lauriann, and she’s won a $500 Bunnings voucher. Congratulations Lauriann.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### First RBA meeting for 2021 leaves cash rate unchanged at 0.1% Today the RBA met for the first time in 2021 and have decided to leave the cash rate unchanged at 0.10%.Our central bank will have been encouraged by recent better than expected unemployment and CPI numbers. It will also be keeping a close eye on rising house prices, lending growth, the continued impact of COVID-19 on our major trading partners, the Australian dollar and its effect on exporters and the looming reduction to government support packages.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for February 2021 Congrats to our February Winner – Zach wins an Apple watch!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Zach, and he’s won an Apple watch. Congratulations Zach.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Is it time for a digital detox? Have you just spent hours of your festive break scrolling, scrolling, scrolling? It’s a fact that spending too much time staring at the small screen can create stress, anxiety and health issues. Isn’t it time we all aimed to disconnect more from our phones and reconnect more with life, health and happiness?We are more connected than ever, thanks to the internet and phones that let us check up on everything from anywhere. But it may surprise you to learn that a Lonergan Research study found that Australians, on average, are spending 9.4 hours a day on phones, computers or TV screens. That’s more time than we spend sleeping (an average of 7.3 hours) and works out to a staggering 143 days a year.‡While there’s no question this has changed our lives by making communication and day-to-day tasks a whole lot easier, this constant connection can also come at a cost. Increased mobile phone use has been linked to increases in stress anxiety, depression and body image issues. So it’s hardly surprising that Deloitte’s Digital Consumer Trends 2020 report reveals that 44 per cent of Australians think their phone use is a problem, and want to reduce the time they spend on them.Is it time to pull the plug?Obviously, the answer to spending too much time on digital devices is to spend less time. That’s easier said than done. More than 90 per cent of Australians have a smartphone and most of us don’t want to disconnect completely. They’ve become essential to our daily life. The internet and digital devices have made so many things so much easier and more convenient, with benefits that we’d rather not do without. But cutting back on our use is a good thing.Logging off for a few hours can have a real and positive effect on our lives and taking an even bigger step back and doing a digital detox can do wonders for your well-being.Time for a digital detoxWhether it’s for an hour during the day, a whole day, or maybe even a week, there’s no doubt that regularly switching off your devices and leaving your social media unchecked is good for you.+ Turn off the distractionsThe ping of a new message, WhatsApp comment or Insta DM. Some likes on Instagram or Facebook to check. Or emails from work that come in 24 hours a day, seven days a week. Turn off the notifications and immediately you’ll feel calmer, more focused and more present with your family and friends.There are a few ways you can reduce the distractions:Turn off notifications, use Do Not Disturb or aeroplane mode.Set rules like no phones at the dinner table, phones on silent when you’re with friends, no texting after 10pm and leaving your phone in another room when you’re watching the TV so you don’t end up using both screens at once.Do not have your phone next to your bed at night.And the simplest, just turn it off for a while.+ Get a better night’s sleepFor a lot of people, looking at their phone is the last thing they do at night and the first thing they do when they wake up. Just a quick check of your messages or socials before you turn off the light can quickly turn into a descent down the rabbit hole of TikTok cat videos. On top of keeping you up later and reducing your sleep, the screen’s light stimulates your brain and can prevent it from producing melatonin, which helps you fall asleep and regulates your body’s natural sleep cycles. You’ll find it harder to both get to sleep and stay asleep.Not getting enough sleep not only makes you tired, it reduces your resilience which can lead to higher stress and anxiety.The best thing to do is to leave your phone recharging overnight in another room (or at least not within reach of your bed if you use it as an alarm clock) and read a good book (or a boring one if you want to get to sleep faster) instead.+ Forget FOMO and discover NMOFear Of Missing Out is actually a serious issue and a very negative effect of social media. FOMO is a social anxiety that comes from a fear that you’re missing out on something good or interesting that’s happening out there in the real or online world.We feel we need to stay connected so that we don’t miss out. And even though we realise people only post the best bits of their lives, it can still make us feel bad that we aren’t doing something as exciting or interesting. It’s time to take less notice of what’s happening on your phone and look more at what’s around you, and you will NMO – Never Miss Out.+ Find a healthier work-life balanceThe days of leaving work behind at the end of the day have long gone. Now you have every email in your pocket every hour of the day. It can be challenging to resist the temptation to look at your work emails. But the need to disengage from work, be completely engaged with home life, and be able to relax is critical in maintaining a healthy balance and a good frame of mind. And in the long run, feeling better physically and mentally will make you much more effective at work anyway.So turn off the notifications and set yourself rules on the last time of day you’ll check work emails. Try setting up an auto-reply to tell people when you’ll be next checking your emails, and they’ll understand why you don’t reply instantly to their message.+ Quit the comparisonsOne of the most dangerous aspects of spending too much time on social media is the inevitable comparisons you make with other people and their lives. This can have a profound effect on how we feel about ourselves. The problem is that people only tend to post the best bits about their lives. Seeing their exciting experiences can make us feel that their life is better than ours.Add to this the comparison of likes, shares and number of followers, not to mention the opportunities it creates for cyber-bullying and negative comments. It can have a terrible effect on a person’s feeling of self-worth, leading to anxiety, depression, self-harm and body image issues. Try turning off your feed for a while, and maybe block, hide or unfollow the people that don’t make you feel great.+ Get healthyWhile you’re scrolling through your feed, chances are you’re sitting down or lying on a couch. You’re definitely not getting any physical exercise, and that’s a big problem. Our sedentary lives make us unfit, overweight and unhealthy – physically and mentally. There are also things like eye strain, bad posture, and a real risk of developing diabetes if your weight gets too high. Time to turn off the phone, shut down the computer, and get moving. Exercise is not only good for your body, it’s very good for your brain and your mood.It’s not all badOf course, there are pros and cons to everything. Just as negative comments on your social posts can have a harmful effect on how you feel, positive interactions can have a great effect on your well-being. And just as the new technology and the possibilities it creates can cause problems, it can also provide solutions.There are many apps and websites that can help your physical or mental health. Search online for reviews and suggestions but don’t forget to turn off your phone after, because that’s the first step in helping you create better physical and mental health.† theconversation.com/the-coronavirus-lockdown-is-forcing-us-to-view-screen-time-differently-thats-a-good-thing-135641‡Lonergan Research “Screen Time Prepared for Poem Group for OPSM” March, 2017 1v1d1e1lmiki1lgcvx32p49h8fe-wpengine.netdna-ssl.com/wp-content/uploads/2017/04/1366-Screen-Time-OPSM-FINAL-Report-31-03-2017.pdfAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Be mortgage-free by your 50s Some tips and tricks to paying off your home loan sooner.Buying a home is likely the most significant financial transaction you’ll ever make. So it stands to reason that your home loan will be your largest ongoing financial obligation. Imagine what life would be like without that monthly or fortnightly strain on your income? With the extra money in your account you can afford to work less, travel more and do the things you’ve always dreamed of.Most loan repayments are calculated on a 25 or 30-year term. And chances are you’ll have more than one home loan over your life if you upgrade to a new house. If you take out your second home loan at 35, you could still be paying it off as you hit 60. But with a few simple tips and tricks, you can shave money off your principal and pay off your loan a lot sooner. Even paying off a little more than you have to now will have a big impact over the life of the loan.Tip 1. Shop around for a lower interest rate.The competition out there for your business from lenders is fierce. Get in touch with me, by shopping around and finding a slightly lower interest rate and you could save money on lower repayments. What you do with this money you save can make a big difference.One safe way is to keep paying the same amount you were previously paying to reduce the loan amount faster. Even a reduction of $150 per month adds up to $54,000 over the life of a 30-year loan. And, because you are reducing the principal faster, you’ll be reducing the amount of interest you have to pay, which will only increase the amount of principal you’re paying off if you maintain the original repayment amount.Tip 2. Make your offset or redraw facility work harder for you.Offset and redraw accounts are very handy add-ons to a mortgage. In fact, if your loan doesn’t have this feature, talk to me about your situation and it may be worth finding one that does. It’s an account that’s linked to your home loan, and any money in that account is considered a reduction in your principal loan amount. A lower principal means less interest to pay, and more of your ongoing repayments will be paying off more of your original loan.The money in the offset/redraw account is generally accessible anytime. One way to make the most of it is to have your salary paid into this account. While the money is there, it reduces your interest. Even if you use a lot of this cash throughout the month, it’s topped up when you get paid again.Simply by doing this, you could shave thousands of dollars off your mortgage, and months or even years off the life of the loan.Tip 3. Get a new loan with a shorter term.Refinancing your loan and choosing a shorter term is probably the simplest and most obvious way to paying off your loan sooner. The attraction to a 30-year term for many is to reduce the amount you pay every week, fortnight or month, to give you a little more cash in hand for other things. But taking five years off the length of a loan can save you thousands over the long-term. For example:$500,000 loan at 2.50% interest p.a.Tip 4: Round up your repayments.By now, you probably realise that most of these tips are based around paying more off your loan than your repayments require. The amount of interest you pay is calculated on how much is left owing on the principal amount of the loan. Every extra bit of money you pay off the principal is effectively earning interest at the rate you’re being charged on your mortgage. Just a small monthly repayment increase on a $500,000 loan over 25 years, from $2,244 to $2,400, will not only reduce the length of your loan by two years and two months, but it will also save you more than $16,425 in interest payments.It doesn’t take much to make a difference. Thanks to the length of loan terms, just regularly paying a little bit extra can grow into significant time and money savings over the years and make you mortgage-free in your 50s.Get in touch to find out how you can reduce your current loan faster, or refinance to start saving.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Open banking – what is it and how could it help you? A new way to quickly and securely share your banking data could help you take more control of your finances.With all the news about Covid last year and its financial impact – interest rates, loan repayment pauses, financial relief packages, government building incentives and so on – you may have missed the news that open banking has begun in Australia. Open banking promises to be a game-changer in the way we can all better manage our money.So what is open banking? Let me shed some light on what it is and what it means for you.In essence, it’s a simpler and more streamlined way to share your banking data with approved lenders and financial technology companies, which could in turn help you find a better deal on your banking products and switch lenders more easily.WHAT IS OPEN BANKING?As technology develops, transactional banking is becoming almost exclusively online and ‘tap-and-go’ transactions are replacing cash. As open banking comes into play, you will be able to get a far clearer picture of how you spend and manage your money.Thanks to online features, open banking will allow you to share your transaction history, account balances and income information with third parties that have been accredited by the Federal Government’s ACCC (Australian Competition and Consumer Commission).These accredited and authorised organisations can be banks and lenders, financial technology companies who provide tools such as a budgeting app and down the track, potentially brokers like us. And you can control which party has access to your data and how they can use it.This means that applying for a new account or signing up to a new credit card will be easier. Without open banking, you need to take the time to gather transaction history, evidence of income and ID information, and then submit it. With open banking you can send this information online in a few moments, potentially saving a significant amount of time and hassle.It’s all about giving consumers control over their data, so you’ll be able to give consent to share information and then amend that consent when you want to. You’ll also be able to give more than one type of consent and provide, withdraw or amend these at any time.As with all new technologies there have been some teething problems causing a few delays. As of the end of December 2020, only the big four banks could share this data between them. They are behind in providing some features to consumers, such as showing data for closed accounts. This should be fixed by the end of February.As well as making it simple to share data between banks, other organisations in the financial sector can make more of your data available to help you get a better picture of your finances and give you more control. Two examples are comparison sites and budgeting apps. With your data, they’ll be able to provide more appropriate recommendations and advice for your individual position, financial needs and spending habits.A HOME LOAN APPLICATION GAME CHANGER.When applying for a home loan, supplying some of the details on your spending can only be estimated at best. This can lead to inaccuracies and not allowing lenders to get a true picture of your finances.With the rollout of open banking, it will mean you will be able to supply all this information with just a few clicks from all your accounts. This includes transaction accounts, term deposits, home loans, investment loans, personal loans, joint accounts, closed accounts, direct debits, credit cards and more. It’s comprehensive, accurate and up to date.MAKING THE SWITCH.Even if you find a loan that might be more appropriate for you, many people don’t make the switch because it feels too difficult. The thought of changing all their direct debits is so inconvenient they stay with their current lender, which could be costing them more.Open banking embraces new technology and has the potential to make this a lot faster and hassle-free, making the idea of switching to a new loan much more appealing.A BOOST FOR BUSINESS.It’s not just for individuals looking for better deals on loans. The rules have recently been updated to allow businesses to share their data and shop around for better services and products. There’s no doubt that having greater flexibility and making it easier to switch when you find a product that can help you save, or even make, more money, is good for business.IS IT SAFE AND SECURE?Open banking isn’t just about making it easier to share data, it’s about making it more secure. You don’t have to reveal your username and password to give access to your accounts, as can happen now.Rest assured, the rules and regulations for open banking have been developed by the ACCC – the Government’s consumer and corruption watchdog – which requires a strict and comprehensive approval process to satisfy it that a bank or organisation has all the right security and privacy measures in place to safeguard your data. At the end of February, this rule-making function will be passed to the Treasury Department.COMPARING PRODUCTS.While open banking might make it easier to find more appropriate options, comparing and understanding the pros and cons to decide which one is right for you is still tricky. As your broker, we’re always here to make sure you can identify the loan that’s the most appropriate for you.Open banking may be able to tell you about your finances right now, but it still can’t take into account your goals and what your life may look like in two, five or ten years’ time. Things like planning for a bigger family, downsizing as the kids move out, and growing and diversifying your property investments all need to be considered and factored into any decisions. And that’s where we can help. If you want to have a chat regarding your individual circumstances, and how they influence your home loan situation, please get in touch.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Autumn 2021 What does Australia mean to you? As Ben Lawson’s poem (see Haven Review) so eloquently describes, there is no doubt that we live in the lucky country. We want to know what Australia means to you. To be in the running to win $1,000, send us a photo you’ve taken that best sums up why you love Australia.How: send your photo to havencompetitions@afgonline.com.au placing ‘What Australia means to me’ in the subject line, letting us know about the photo and how it conveys your affection for your homeland.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on February 15 and closes on April 15.Winner: will be decided on April 16 and notified by telephone after this time.Terms and conditions: email havencompetitions@afgonline.com.au to request terms and conditions.Let them eat cake!First published in 1980, The Australian Women’s Weekly Children’s Birthday Cake Book has become an iconic tome helping parents create birthday cake magic across the land. Congratulations to Belinda for winning the Haven Summer edition competition, with her fabulous interpretation of the book’s fairy-topped toadstool.Belinda writes:Each year my brother and I picked out a birthday cake from The Australian Women’s Weekly Birthday Cake Book. Now 30 years later, we have carried on this family tradition with my two daughters picking out their own birthday cakes. Here is the magic toadstool cake I made for my daughter’s sixth birthday last year.Belinda’s magic toadstool on the left and it’s inspiration from the cookbook on the right: Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Autumn 2021 For the little people!Tasty toesI don’t like tacos, said no Juan ever! These adorable taco baby booties let your little one fiesta until they siesta.uncommongoods.com       Monkey businessTransform your child’s room into a wonderland with gorgeous wall decals from a Melbourne graphic designer. Made to order in Australia, the decals are made from a quality peel and stick fabric that is removable, reusable and installed in minutes. From the sweetest Australian baby animals to watercolour trucks and diggers, duck diving whales, fairies on toadstools, bunnies and dinosaurs, Melinda Longhurst’s whimsical illustrations will take your child’s bedroom to another level.gingermonkey.com.au         In January last year, as bushfires raged their way across vast areas of our nation, Australian actor Ben Lawson watched the devastation unfold from his base in the US. In response to the horror witnessed, Ben transferred his feelings of anger and helplessness into an impassioned poem delivered via social media – a love letter to his homeland. Raw, funny and emotional, it challenged viewers to think deeply about our future as a nation. It is an ode to the endurance of the Australian spirit and the shared love of our country. For maximum feelgood factor, all proceeds of the sale of the book are being donated to The Koala Hospital.RRP $29.99       Jeepers creepers, where’d ya get those peepers?Your eye colour depends on the amount and distribution of melanin (a brown pigment) in the eye’s iris. Someone with a lot of pigment has brown eyes and an iris with less pigment (blue has the least) results in paler eyes. So which is the rarest eye colour? Let’s take a look at a global breakdown.Brown: Somewhere between 70-80 per cent of the world’s population have brown eyes, making it the most common eye colour. It is widely believed that at one time, brown eyes were the human population default, with a series of mutations occurring to create shades of blue, green and grey.Blue: Blue is the second most common eye colour globally. Estimates suggest that 8-10 per cent of the world’s population have blue eyes.Hazel: Approximately 5 per cent of the world’s population sport hazel eyes. After brown eyes, a hazel iris contains the second most amount of melanin.Amber: Consisting of a little more melanin than hazel eyes but not as much as brown eyes, amber eyes account for about 5 per cent of the world’s population.Grey: 3 per cent of the world’s population have grey eyes. Grey eyes have little or no melanin, but they have more collagen in a part of the eye called the stroma. The light scatters off the collagen, making the iris appear a silvery hue.Green: In terms of common eye colours, green eyes win the prize as the rarest colour. Just an estimated 2 per cent of the population view the world through green eyes.Violet or red: People with albinism or ocular albinism have little or no melanin in their iris. This lack of pigment causes red or violet eyes. As eye pigmentation is important for vision, people with these eye colours often have problems with their eyesight.Heterochromia: Heterochromia is when someone has two different eye colours – think David Bowie. This affects less than 1 per cent of the population. Some people are born with heterochromia. For others, an eye injury or health problem causes it.Source: www.medicalnewstoday.com/articles/eye-color-percentage#eye-color-around-the-world.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA’s cash rate unchanged at 0.1% for March The RBA met today, leaving the cash rate at 0.10%, in line with their previous guidance that they expected rates to remain unchanged for some time.The market has been speculating that rates may rise as early as late next year based on optimism around the vaccine rollout, surging iron ore prices, a strong housing market, a rebound in business investment and record government stimulus in the United States.The Reserve Bank has previously stated that it did not expect rates to increase until 2024 and until inflation increases to within the bank’s target range of 2-3% and wages growth is materially higher.To support lower rates and protect exporters by pushing down the rising Australian dollar, the RBA has recently stepped up its government bond buying program.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business. We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for March 2021 Congrats to our March Winner – Anjana wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Anjana, and she’s won a $500 Coles Myer voucher. Congratulations Anjana.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Cash rate for April unchanged at 0.1% The RBA met today and as predicted by most economic experts left the cash rate at 0.10%.The RBA has previously stated that it does not expect rates to increase until it sees sustained wage growth and inflation returning to within its target range of 2-3%.With growing speculation that APRA will be required to intervene to stem the country’s booming housing market, all eyes will be on the statement that follows today’s announcement for any change of tone.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for April 2021 Congrats to our April Winner – John wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is John, and he’s won a $500 Coles Myer voucher. Congratulations  JohAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Cash rate for May remains unchanged at 0.1% The RBA held its monthly board meeting today and as expected, maintained the cash rate at 0.10%.As a sign the economy is growing at a healthy but controlled pace, the RBA is heavily focused on restoring inflation to within its 2-3% target range.The recently released March quarter consumer price index data shows the annual inflation rate at just 1.1%, reaffirming we are unlikely to see an interest rate rise for some time.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for May 2021 Congrats to our May Winner – Sarah wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Sarah, and she’s won a $500 Coles Myer voucher. Congratulations  Sarah.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### So hot right now Despite dire predictions, the Australian property market is booming. How did it happen and where to from here.Feeling richer? The average Australian homeowner has an extra $60,000 equity in their pockets, thanks to a real estate boom no one saw coming.Between March 2020 and March 2021, the average value of an Australian home rose 6.2 per cent from $554,229 to $614,768, according to CoreLogic. And much of that was recorded in March alone, which logged a 2.8 per cent leap in values – the largest monthly increase since October 1988.This sharp rise prompted many economists to revise up their forecast for capital city price growth.Mind you, a year ago experts were predicting a housing market collapse of 10-20 per cent that never materialised. How did they get it so wrong and can this sellers’ market last?A different kind of boomIn a year that turned many things on its head, property market trends were no exception. Capital cities were left in the dust as home buyers raced to the regions.In the 12 months to March 2021, regional home prices were up 11.4 per cent compared to an average increase across the capitals of just 4.8 per cent. That’s a reversal of the usual trend for capitals to outpace their country cousins.And among the capitals, it was the outliers that shone, with Darwin, Hobart and Canberra eclipsing more restrained growth in Sydney and a barely there rise of 0.7 per cent in lockdown-hit Melbourne. Annual change March 2020Annual change March 2021Median value 2020Median value 2021Sydney13%5.4%$882,849$928,028Melbourne12%0.7%$695,299$736,620Brisbane3.1%6.8%$506,553$548,260Adelaide0.9%8.6%$437,296$486,555Perth-3.1%6%$445,614$505,850Hobart4.2%12.5%$483,032$548,686Darwin-5.4%14.2%$392,348$451,408Canberra4.7%12.1%$628,932$727,032Combined capitals8.9%4.8%$643,540$693,936Combined regions2.4%11.4%$392,802$448,819National7.5%6.2%$554,229$614,768Source: CoreLogic Home Value Index – April 2020/April 2021Why were the experts so wrong?To be fair, who could have predicted anything in 2020? And most of the dire predictions about the property market were made at the beginning of the pandemic, before the Federal Government and the Reserve Bank weighed in to steady the ship. Here’s the key reasons housing surged rather than collapsed.Interest rates: This is probably the biggest factor in the housing market equation. The RBA cut the cash rate to 0.1 per cent and made the extraordinary statement that it didn’t expect to raise rates until 2024. This delivered a shot of confidence to nervous first-time buyers and homeowners looking to trade up. The RBA also embarked on a program of quantitative easing to put downward pressure on interest rates.Supply vs demand (demand won): You know it’s a red-hot market when houses are selling before the first home open, auction clearance rates are up more than 80 per cent and reserves are being toppled. There are substantially more buyers than sellers driving prices higher. How did this start? Well, when the pandemic hit there was a sharp contraction in listings, as owners feared a price collapse. When low-interest loans and a raft of stimulus aimed at first home buyers and the construction market instead triggered a rush of buyers, there simply weren’t enough houses to go around. There still aren’t, with total listings still down about 25 per cent on long-term averages and economists talking about FOMO (fear of missing out) as a market force.Renters got hit harder: This was a different kind of economic slowdown that has created definite winners and losers. The impact of business shutdowns fell disproportionately on younger, lower-income workers in hospitality, tourism and the arts, who tend to be renters rather than mortgage holders. This meant the property market was insulated from the worst fallout. Workers who held their jobs found themselves well placed to take advantage of lower interest rates and incentives.Forced savings: People banked a lot of cash when they couldn’t spend it globe-trotting or popping out for smashed avo. Tourism Research Australia reported that in 2019, when the world was ‘normal’, Australians spent $65 billion on international travel, half of which was holiday travel. That’s a lot of money suddenly available for other purposes. What else to spend it on other than a nicer home – as we have all been spending so much time there.Building incentives/mortgage deferrals: Stressed borrowers were able to defer loan payments, preventing a rash of distressed sales. (The scheme hit a peak in May 2020 when 10 per cent of home mortgages were in deferral. This had dropped back to less than 1 per cent as of March.1) A raft of Federal grants to build or renovate triggered a building boom, with the Australian Bureau of Statistics reporting that construction approvals for private homes hit the highest monthly figure on record in February this year.Expat buyers: More than 440,000 Aussies living overseas returned home last year and joined the hunt for housing, fuelling already hot demand.What now?That’s the million-dollar question, particularly for homeowners contemplating a move or upgrade.Many may be tempted to test the waters and put their home on the market, but it triggers an age-old dilemma: sell then buy, or buy then sell?Selling first in a fast-rising market can be risky. No one wants to get caught out trying to buy back in. So, with interest rates at record lows, upgraders often opt to buy first, locking in a new home before listing their old one. But this, in turn, drives the supply/demand imbalance by further inflating the pool of buyers relative to sellers.The main things that could cool the market in coming months are a rise in supply (property listings); a rise in interest rates; a rise in unemployment; or government intervention in the form of tighter lending restrictions.The key indicators to watch in coming months will be:Auction clearance rates (the higher the hotter).Mortgage approvals (rising numbers usually means rising prices).Property listings (as they rise it should help take the heat out of buyer FOMO).In the meantime, homeowners can sit back and watch values rise. In some states, such as WA where the market has been flat for quite some time, this makes for pleasant viewing.1 Temporary loan repayment deferrals due to COVID-19, February 2021, apra.gov.auAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Lock it in Eddie Getting the itch to fix? Choosing the right time to lock in an interest rate can be tricky.In the past year interest rates on fixed-rate loans have plummeted to all-time lows, prompting many borrowers to ask whether it’s time to lock in a rate.If you’re thinking about it, you’re not alone. The number of homeowners opting for a fixed rate loan jumped sharply in March last year and remained high as rates continued to fall. According to the Australian Bureau of Statistics’ Lending Indicators data, the proportion of new home finance in fixed loans has jumped from around 14 per cent pre-COVID to just under 40 per cent. There are a few things to consider before you look at fixing.First, how do interest rates compare on fixed and variable mortgages?Across the past few months, fixed rate mortgages are tracking lower than standard variable mortgages, in some cases by quite a significant amount.Do you expect interest rates to go up or down?The major advantage in fixing is to avoid, or at least postpone, an expected rate hike. At the same time, no one wants to fix, then watch rates fall further.Under normal conditions, when fixed rates are lower than variable rates it indicates the market expects further cuts. But with the RBA cash rate at 0.1 per cent, further cuts are highly unlikely. So, what gives?Why are fixed rates so low?The key phrase above is “under normal conditions”. Remember those?When the pandemic hit last year, the Reserve Bank deployed billions to support the Australian economy through lockdowns and job losses. One of these measures was the Term Funding Facility. Set up in March 2020, the TFF is supplying money to banks on cheap three-year terms to support lending. It’s a great deal for lenders. They borrow from the RBA (at 0.25 or 0.1 per cent), then pass it on at a low rate to consumers, which is one reason fixed rates are so low. The TTF winds up at the end of June.What can impact interest rates?RBA cash rate: Reserve Bank Governor Philip Lowe has said the bank doesn’t expect to lift rates before 2024. It believes the Australian economy can’t sustain a rise until sluggish wage growth hits 3 per cent a year, which the RBA believes requires unemployment to drop to 4 per cent, and that is unlikely before 2024.Bond markets: Bank interest rates do not mirror the RBA’s official cash rate. While the RBA may keep rates on hold until 2024, banks raise capital in bond markets and if the cost of money there rises, mortgage rates are likely to lift independent of the RBA rate. Rising bond yields signal inflation and possible interest rate rises. Yields spiked in February, but the RBA began aggressively buying bonds to hold them down. Commentators say money markets are pricing in a cash rate rise before 2024 and some lenders have recently lifted their four-year fixed rates.It’s not just about interestInterest rates are a major factor in deciding whether to fix or float but there are other things to weigh up.ProsFixed rates are currently very competitive.If you’re on a tight budget, fixing gives you certainty about repayments for the length of your loan term.Lock in at the bottom of the cycle and save on rate hikes.ConsIf you sell during a fixed term, you may incur significant break fees for ending the contract early.You will also be hit with break fees if you want to access equity generated by rising house prices in your home by refinancing during the term.You may not be able to pay off your loan faster by depositing lump sums or increasing your repayments as suits.Many fixed-rate loans do not come with offset or redraw facilities.If rates climb significantly during the fixed term, it can be a budget shock when mortgages revert back to a standard variable rate.Is there a third option?There are strategies to hedge your bets. Some lenders offer split home loans. These are exactly what they sound like – borrowers divide their mortgage between fixed and variable rates in any ratio they like: 70:30, 50:50 or 60:40. This allows extra repayments on the variable portion without incurring fees, and if interest rates rise, repayments on the fixed portion stay the same. If you have an offset account however, you will need to ensure enough of the split is retained in the variable portion to maximise savings, as offsets are not always offered against fixed loans. Get in touch and we can look at whether splitting your loan may suit your individual circumstances.Another tactic uncertain borrowers adopt is to fix for a short period – say one year – then reassess.If you would like to run through your options and the current range of low-rate fixed mortgage products on the market, get in touch with me to make a time – I’m always here to help.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Homework project Hide in a cupboard, launch an escape pod or retreat to the garage – you may have more options than you think to create a peaceful home office.If we’ve learned anything in the past 12 months, it’s that study nooks no longer cut the mustard.They may be great for paying a few bills but trying to get a productive day’s work done is next to impossible when you’re surrounded by inconsiderate and noisy co-workers (AKA your family).Working from home was not only the biggest change and challenge of the pandemic, but also looks to be the most enduring. Many people hope to hold on to some flexibility post-COVID, working from home at least one day a week. And that sentiment has seen demand for home offices skyrocket, pushing it to the top of buyers’ wish lists.In the second half of 2020, “study” was the most searched keyword on realestate.com.au, leaping 52 per cent to edge out perennial favourite “outdoor space” for the first time.The growing trend was backed by results of a survey from the Real Estate Buyers Agents Association that ranked home office third on buyers’ priority lists after a large kitchen and outdoor entertaining space.That’s a significant change considering two years ago it didn’t even crack the top 10.Creating a separate work space that is out of view of the living areas is also good for work/life balance. Switching off means you don’t want to be constantly catching sight of the paperwork you need to tackle.It means creating a home office is now the ideal renovation project to not only make your home more liveable, but to add value. Before working out how much you want to budget for the project, it’s worth talking to an accountant to find out what expenses may also be tax deductable – another advantage to prioritising an office reno over the more traditional bathroom update.If you think you don’t have space to carve out a home office, here are a few ideas.Chairman of the (cup)boardA home office space doesn’t need to be huge, but it does need to be private – even if that’s just the ability to close a door to make calls or Zoom without children or pets interrupting.If you have a spare bedroom – or second living area – consider repurposing built-in cupboard space to create an instant office within the privacy of a room away from busy family living areas.That way, the room can still be used for another purpose in the evenings or on weekends, but on the days you need to work from home, it transforms into a convenient office. And at the end of the day, you don’t need to clear the dining table to eat – or put your paperwork away from little hands or stickybeaks. You can simply close the cupboard doors and make a short commute up the hallway.The larger the cupboard the better, but an average built-in wardrobe is plenty wide enough for this project.Install a desk across the width of the cupboard, with shelving above. A designer tip to maximise small spaces is to fully utilise vertical space with shelving to the roof. Wi-Fi-enabled printers can be located anywhere in the home to free up bench space if necessary.An interesting feature colour or wallpaper on the interior of the cupboard can make it look and feel more like a pop-up office than a broom cupboard.If you are using a spare bedroom, it’s unlikely the cupboard space will be missed. But if you do need clothes storage, a freestanding cupboard and drawers should fill the gap.Peace in a podExpanding your home doesn’t have to involve building. Prefab pods are the latest way to add an extra room instantly. Their popularity has boomed in the past year as people sought quick and easy ways to juggle working from home with the chaos of a hectic house.And if you’re thinking old-school demountable, think again. In a garden setting, sleek designer pods are a statement, rather than an eyesore.The price points stack up well against the cost of a more traditional home renovation too, with some companies offering ready-to-use turnkey pods sitting around the $20,000 mark.Once you have a level pad prepared, they can be installed on site and ready to use in as little as two hours. Another upside is that pods generally don’t require planning permission.More high-end sleek designer pods, such as the pictured Harwyn Pro, start around $35,000 for a carpeted, work-ready cabin with floor-to-ceiling glass to maximise natural light. Several prefabricated cabin companies launched purpose-built, standalone office pods last year, when demand for private home workspaces went through the roof.This home office solution also comes with one major advantage – you can take the pod with you when you move, or simply sell it when you decide you don’t need it anymore. You can’t say that about too many rooms in your house!If you have a bit of skill and the time, DIY shed/office kits start under $10,000.Become a convertA garage conversion is a simple way to find extra space in your home.You may choose to hive off a narrow section to create a small office or convert the entire area to living space and build a freestanding carport. Replacing garage doors with glass sliding doors brings in lots of natural light, which is ideal for working.A garage conversion can also provide the opportunity to create a spacious home office with a separate entrance, so clients can come to your home office without walking through the living areas of your house.The cost advantage to a garage conversion is that you’re generally working under the home’s existing roofline, although you will need to investigate the slab. It needs to be waterproof, termite-resistant and level. You’ll also have to ensure there is adequate insulation in the walls and ceilings and have power points and lighting fitted.Other things to bear in mind include ceiling heights and boundaries. Walls within 900mm of a boundary must be fire rated, which can affect the location of doors and windows.Development approval is generally required to convert a garage into a living area. And, as a rough guide, people can spend in the region of $20,000-$40,000, depending on additions such as a sink, toilet or shower room.A double garage can provide enough space for a home office/rumpus. When it comes to resale, a flexible second living area is in high demand and particularly popular for families with teenagers.Need finance for a renovation project to make your home a better fit? Contact me today to discuss your options.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Winter 2021 Clean dishes, happy fishesZero Co Australia is on a mission to make a difference in our planet’s enormous plastic waste problem. Their intention is simple: to ‘unrubbish’ the world by stopping the production of new single-use plastic while also cleaning up the plastic that’s junking up our oceans.Zero Co deliver great home-cleaning and personal-care products direct to your door, minus single-use plastic. How it works: empty dispensers (made from plastic rubbish pulled from the ocean) arrive to your door and are for you to keep; you fill them with the contents from a matching reusable pouch (made from plastic diverted from landfill). Once you’ve collected enough of the empty pouches, you send them back (for free) to Zero Co in a reply-paid postage satchel, which cleans and refills it, then sends it on to the next customer – over and over again.Since launching last year, Zero Co has removed more than 6,000kg of plastic rubbish from the ocean – that’s the equivalent of more than 500,000 water bottles worth of plastic. And they’ve set themselves an audacious goal for 2021: to collect 21 tonnes of ocean bound waste and turn it into their forever bottles.It’s super simple: you order online, they deliver, you return (for free), they refill. Wave bye-bye to single-use-plastic at your place.zeroco.com.au               Paver weeds begone – au naturelForget spraying environment hurting herbicides around your house – no one wants nasty chemicals in their yard or leaching into the water table. Instead try this sure-fire solution to kill the pesky weeds that pop up between brick and stone paving. It not only knocks the weeds dead, but also retards the soil beneath the paving, helping prevent future growth.Simply mix together:2 cups of salt9 litres of white household vinegarA squirt of dishwashing liquidThen pour the solution directly onto the surface of the weeds.How does your winter garden grow?With cooler weather now upon us, summer salads take a backseat as our tummies start yearning for food that warms and sustains. Whether a gung-ho gardener or a novice that wants to give it a go, here are some of our favourite winter vegies that grow in Australia in coming months. If confidence in growing your own isn’t high and your local farmers market is your go-to instead, you’ll like our ideas for injecting some winter veg into your culinary repertoire.Broccoli and cauliflower: take the family favourite cauliflower cheese topped with luscious cheesy bechamel sauce to another level by combining the cauli with its Brassica cousin, the broccoli. Broccoli pairs with cheese sauce just as well as cauliflower, and when the two are put together it’s a match made in heaven.Spinach and silverbeet: Popeye knew how good this leafy green was, and winter is the time for it to shine. Its versatility is excellent – try it in a stir fry, through an Indian curry, in hearty soups, wilted through pasta or pair it with salty feta by making a gorgeous Greek spanakopita pie topped with flaky filo pastry. Yum!Carrots: while they can grow all the year round, carrots are particularly well suited to warming winter soups, hotpots and roasts. Or for a decadent alternative to the ever-popular potato bake, pair the humble carrot with another winter root vegetable, the parsnip. Slice both finely and layer with gruyere cheese, cream, a little crushed garlic and salt and pepper before baking in a moderate oven.Beetroot: bring the rainbow to your table with delicious, earthy beetroot. A winter vegetable superstar, warm roasted beetroot loves to be paired with a soft goats cheese and also marries well in a warm salad with chickpeas and toasted almonds. And for those that like to bake, don’t forget that old classic the beetroot chocolate cake – when combined with bittersweet chocolate, beetroot adds a rich, super moist decadence that’s hard to beet.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Winter 2021 Household tip or trickThe Haven Tips paving weedkiller idea has got us thinking about more old fashioned – and in turn often kinder to Mother Nature – household tips and tricks. Our grannies and grandads knew them, and we’re on the hunt for their house hacks that we should be using too. Send in your oldie but goodie household tip or trick (it might relate to the garden, cooking, shed or cleaning – anything goes) and if we love it, $1,000 could be on its way to you.How: send your household tip, in 200 words or fewer, to  havencompetitions@afgonline.com.au placing ‘Household tip’ in the subject line.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on May 28 and closes on July 12.Winner: will be decided on July 13 and notified by telephone after this time.Terms and conditions: visit http://bit.ly/HavenWin.We know we say it every time, but the quality of entries for our last Haven competition were outstanding. It was so hard to choose between them. Thank you to everyone that sent in photos to convey what Australia means to them. And congratulations to our winner Jodi who entered her otherworldly photo of a green sea turtle doing its thing.Jodi says:“Australia is a magical land surrounded by sea. That sea is home to the greatest treasure this world has ever seen, the Great Barrier Reef. The reef is home to many special creatures including the endangered green sea turtle in my picture. Only one in a thousand baby turtles survive their journey and we are so very lucky to be able to experience them in their natural habitat. Australia truly is the lucky country. My photo is of a healthy reef with a turtle in its happy place on Lady Elliot Island on the southern Great Barrier Reef in Queensland. This is my happy place too!”Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Cash rate for June remains unchanged at 0.1% As widely expected the Reserve Bank held rates at 0.10% at its board meeting today.All eyes will be on the minutes of the meeting to see if there has been any softening on the RBA’s stance that rates would not increase until 2024.Since their June meeting there has been more positive economic information, including falling unemployment, despite the removal of job keeper, and an increase in business investment.The Bank will also be taking into account data that shows lending for investment property continues to gain pace.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for June 2021 Congrats to our June Winner – Alyssa wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Alyssa, and she’s won a $500 Bunnings voucher. Congratulations Alyssa.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Cash rate for July remains unchanged at 0.1% As anticipated the Reserve Bank board maintained the official cash rate at 0.10% today.Despite the economic handbrake from the latest round of COVID-19 lockdowns, some economists are speculating that the RBA has underestimated the strength of the economic recovery, leading to predications that rates will start to increase towards the end of 2022.RBA governor Phillip Lowe is scheduled to hold a Q&A session following today’s meeting which is expected to shed more light on the central bank’s thoughts on the direction of monetary policy.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for July 2021 Congrats to our July Winner – Chris wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Chris, and he’s won a $500 Bunnings voucher. Congratulations Chris.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Cash rate for August remains unchanged at 0.1% The Reserve Bank today confirmed the official cash rate will remain at 0.10% for the foreseeable future.News of positive inflation last week is seen as a blip due to the economic impacts of the sustained NSW lockdown.The expectation was that the RBA would increase its government bond buying program, however it surprised the market by advising it will stick to previously announced reduction plans.The purchase of government bonds, or quantitative easing as it is known, helps stimulate the economy by increasing the supply of money, keeping interest rates low and putting downward pressure on the Australian dollar which assists exporters.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for August 2021 Congrats to our August Winner – Brett wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Brett, and he’s won a $500 Cole Myer voucher. Congratulations Brett.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Spring 2021  Crying Santa photo While it might feel premature to be talking of Christmas in August, in the spirit of planning ahead we aim to publish the entries in the December edition of Haven. Crying, terrified children and Santa photos go together like honey and a bee. So in preparation for the festive season we’re looking for a photo of your uncooperative offspring meeting the big man in the red suit. Send in your family’s version of your little one/s not enjoying their photo opportunity with Father Christmas for the chance to win $1,000.How: send your photo to  havencompetitions@afgonline.com.au placing ‘Santa photo’ in the subject line.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on August 17 and closes on October 13.Winner: will be decided on October 14 and notified by telephone after this time.Terms and conditions: visit http://bit.ly/HavenWin.Congratulations to Maddy for submitting this handy household tip. Judging by the number of packets of fresh herbs the Haven team members have thrown out after they’ve gone brown and sludgy in the fridge, Maddy’s tip is looking to be our new favourite.How to stop fresh cut herbs from dyingAre you over buying a bunch of coriander, mint, basil or parsley only to watch it go slimy and die after a few days? Have I got a hack for you! Use this trick and your next packet of fresh soft herbs will last weeks instead of days.Step 1: wash the herbs, trim a few millimeters off the end of the stems and put them in a glass of water (like a bunch of flowers).Step 2: place a large ziplock bag upside-down over the top of the herbs. Zip the bag up around the glass.Step 3: using a rubber band, further secure the ziplock bag onto the glass, this will keep it tight.I did this a week ago with this bunch, and look how fresh the herbs have stayed:Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Spring 2021 Home clutter-clearing tipsIs your place looking like a tip and you don’t know where to start in the uncluttering process? Try these simple ideas on for size and you’ll be clutter-clearing like no one’s business.1. One-in, one-out ruleWhen a household full of people keep bringing new things home, stuff piles up. Make a family rule that if something new is bought home to live, an old thing needs to go.2. Don’t leave the room empty-handedIf you’ve got a spare hand, pick up something that doesn’t belong and take it to its correct spot. You’ll be amazed how many things get put away with this method.3. Put it away, straight awayThis is a matter of forming a habit. Rather than dumping something down where you’ve last used it, be conscious of putting it back where it lives as soon as you’re finished with it. It’ll only take a few seconds extra, but save so much time later.4. Put a time on itSpeed cleaning is a thing – you’ll surprise yourself at how much you can achieve when you give yourself a time limit. Have a go at choosing an area, setting a timer for 20 minutes and go hard on the tidying and cleaning.5. Kitchen tidy upTake five minutes before you climb into bed at day’s end to clear up the kitchen bench and table. When you’re dealing with the morning rush to get out of the house, waking up to a tidy kitchen is psychologically game-changing.Did you know?The bombardier beetle has a built in boiling bomb.The African bombardier beetle (Stenaptinus insignis) deters predators such as ants and frogs by shooting a scalding hot defensive spray at them. When a threat is nigh, the bombardier activates its caustic chemical cannon by opening valves to mix hydrogen peroxide and hydroquinone – which are stored separately in little sacs – in a reaction chamber located at the back of its abdomen. The mixing process heats the liquid to a boiling 100C, before being ejected in an extraordinary insect version of chemical warfare. And if this alchemy isn’t impressive enough, the bombardier is also able to direct the boiling toxic spray in targeted directions (up, down, left, right, forward, backward), depending on where the predator is located. Mind blown!Sticky date & toffee puddingThis is an old English recipe handed down through generations. Serve it with lashings of cream or vanilla icecream.Pudding ingredients125g softened butter250g white sugar2 eggs1 teaspoon vanilla extract700g pitted dates400ml boiling water700g plain flour1½ teaspoons bicarbonate soda1½ teaspoons baking powderToffee sauce ingredients250g butter500g dark brown sugar250ml creamPudding methodPour boiling water over dates and set aside for half an hour.Cream butter and sugar. Add eggs one at a time beating well after each addition. Add vanilla and beat until light and fluffy.Sift flour and raising agents together, add to creamed mixture with the water from the dates. Mix well, then add the soaked dates.Pour into a well-greased 25cm ring tin and bake in a moderate oven for 50 minutes.Serve warm with plenty of toffee sauce and cream or vanilla icecream.Sauce methodMelt the butter.Add the brown sugar and stir over heat until sugar dissolves.Add the cream and bring to the boil.Remove from heat and pour generously over slices of the pudding.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Heading for the hills Younger Australians are striking out in the regions. Where are the hotspots and could it be right for you?People have turned their backs on capital cities in record numbers during the past year, seeking a simpler and cheaper life in regional Australia.COVID-19 has not only unshackled workers from CBD offices, but prompted many to reassess what they want from life. And what they want, it would seem, is a smaller mortgage and a bigger garden.It’s not the first time Australia has experienced a tree change, or sea change shift. But it is the first time younger Australians rather than retirees are leading the charge, turning what was a gradual drift away from cities into a stampede.In the second half of 2020 the total population of capital cities dropped by a record 21,800 – more than double the same period in 2019, according to the Australian Bureau of Statistics1.The overwhelming majority of this population drain occurred in Sydney and Melbourne, with millennials (aged 25-44) recording the biggest shift away. Other capitals have held relatively steady, with Brisbane the only one to notch up strong growth thanks to high interstate migration.Affordability is clearly a factor, alongside lifestyle. In June 2020, when the dramatic shift began, CoreLogic reported the median home value in regional Australia was $394,570, compared to $875,749 in Sydney and $683,529 in Melbourne.A home among the gum treesIt’s not just price, but bang-for-buck that has had first-home buyers and young families heading for the hills. In the Victorian hotspot of the Grampians, a four-bedroom homestead with panoramic views on 3.2ha sold earlier this year for $625,000. The same outlay in Melbourne would buy a two-bed terrace with a courtyard 10km from the CBD.There is still plenty of value in the regions, despite demand pushing prices higher. Regional markets outperformed capital cities last financial year, with CoreLogic reporting a 17.7 per cent lift in values across regional Australia in 2021/22, compared to a 12.4 per cent rise for combined capital cities.Lifestyle-focused coastal areas in NSW and Queensland have boomed, but a break in the drought has also led to strong growth in agricultural areas such as Orange in central NSW and Bunbury in WA.Regional centres within striking distance of capitals are also popular with workers, who now find they only need to attend a CBD office once a week.Time for a change?For anyone daydreaming, or seriously considering making the leap, there’s no shortage of information – there are almost as many tree-blogs as there are tree changers. These blogs offer great insights into what life is really like when you leave the city behind.While many say their biggest regret is that they didn’t do it sooner, there are some key considerations before farewelling the city.Driving can drive you crazy: You may not be in a traffic jam, but you will still spend plenty of time in your car in regional and country areas. The distance between things is much greater, so your commute may take longer than it did in the city, although it will probably be more pleasant. Little errands like ducking down to the shops, picking the kids up from school, dropping them off at sport and social activities, and trips to the doctor, can take much longer than you think.Not everything costs less: Houses may be cheaper, but food and fuel can be more expensive in regional areas. And insurance on that new home may be extremely pricey or even non-existent in more remote, bushfire-prone areas. Be prepared for a rise in some living expenses.Check the services: It pays to be practical. Research the local facilities and services before deciding on an area to buy. Are there medical specialists or a hospital in the area? On a more basic level, how is NBN and mobile coverage? Sky Muster, the NBN’s satellite broadband service has improved speed, but, again, is a more expensive option.Food and culture: If entertainment and dining out are important, focus on affordable regions close to food and arts hubs, such as Tewantin, near Noosa on Queensland’s Sunshine Coast. Factor in how far you may otherwise need to travel for a night out.It can take generations to become a local: Carefully consider the community you are buying in to. How do you see yourself making friends? Be prepared to volunteer or join some local service groups. Getting involved is a win for everyone – you can make friends while contributing to your new community.Thinking of moving to or investing in the regions? Talk to us about how a tree-change mortgage could stack up.Top 3 regional growth areas2020/21 financial year12-monthincreaseMedianvalueNew South WalesRichmond Valley – coastal34.1%$1,070,350Southern Highlands28.5%$1,013,445Orange24.5%$496,902VictoriaGippsland-south west24.7%$628,774Surf Coast-Bellarine Peninsula21.3%$968,102Grampians21.2%$254,207QueenslandGympie-Cooloola30.3%$436,199Noosa Hinterland30.0%$894,907Coolangatta26.4%$910,099Western AustraliaEast Pilbara20.0%$327,227Augusta-Margaret River-Busselton7.4%$535,145Gascoyne4.2%$297,158TasmaniaWest coast27.7%$274,315Launceston and north east27.0%$403,197South east coast25.1%$472,031South AustraliaFleurieu-Kangaroo Island17.6%$464,882Lower north16.0%$251,765Murray and Mallee15.3%%$241,734Northern TerritoryKatherine12.2%$331,634Alice Springs9.1%$442,028Note: ACT’s limited geography means it does not have formally defined regions beyond Canberra.Source: CoreLogic1 Regional internal migration estimates, December 2020, Australian Bureau of Statistics, 11 May 2021.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Pitching in without falling out Lenders are helping parents boost their children’s buying power without putting their house or relationships on the line.Despite a patchy customer service history, the Bank of Mum and Dad is soaring to new heights as the property market booms.And no wonder – conditions are perfect to drive inter-generational lending. Surging prices have made saving for a deposit feel like chasing a runaway train. At the same time, price rises have delivered an equity windfall to older homeowners.To many, it makes perfect sense for asset-rich parents to offer a leg up to their children. After all, with median home values leaping 13.5 per cent in the past year, the difference between buying now or later can be tens of thousands.But even with the best of intentions, accepting money from relatives can be a minefield, not least because your average institutional lender is unlikely to ask why you can’t be more like your sibling, or guilt you into spending Christmas at their bank.And these emotional strings pull both ways.Recognising a growing need, lenders have developed a range of financial products to smooth the path for family lending that mitigates the financial and emotional risks for parents and children.Pledge your allegianceThe major pain point for first home buyers is saving a deposit – specifically the 20 per cent typically required to avoid Lenders Mortgage Insurance (LMI), which can add thousands to borrowing costs. LMI kicks in when the loan to value ratio (how much you need to borrow relative to how much the property is worth) sits above 80 per cent. Its purpose is to protect lenders against default on higher-risk loans. But it’s expensive, and avoiding it saves money and can help borrowers access lower interest rates.Lenders now have products that allow parents to tap into their home equity to help children reach that magic 20 per cent threshold on a property that would normally be beyond their reach. Known as a family guarantee, family pledge or family security guarantee, the loan allows parents to put up security to guarantee all or part of the deposit. Parents’ financial exposure is limited to just this amount, rather than the entire loan.While many use home equity to secure the loan amount, term deposits can also be used.Limit financial stressThe key advantage to a family guarantee is that parents don’t need to reach into their pockets to help. And if things should unexpectedly go pear-shaped, they are only liable for the pledged deposit amount. This limits the financial stress and emotional weight of helping out.Family guarantees, or pledges, also have a limited span. When the LVR of the home loan dips below 80 per cent, the guarantor may be released from the pledge. Rising home values can help tip this balance in your favour earlier than expected.Sharing is caringOf course, if the borrower defaults on the loan, the guarantor would become liable for the pledged amount. So it’s vital both parents and children have a clear understanding of each other’s financial situation and obligations. This can be confronting, but a willingness to share financial information allows both parties to enter the arrangement with their eyes open.Borrowers should also consider income insurance to guard against unexpected illness or job loss that could leave their guarantor exposed.Acting as a guarantor may impact parents’ borrowing capacity during the lifetime of the guarantee.Get in touch if I can help your family help each other.Keeping it in the familyIt’s estimated the informal Bank of Mum and Dad has dished out about $34 billion in loans to help children onto the property ladder, making it one of Australia’s top ten mortgage lenders.About 60 per cent of first-home buyers are thought to receive some form of financial assistance from their parents, with an average loan amount of $90,000.Source: Martin North, Digital Finance Analytics based on a rolling survey of 52,000 Australian householdsCase studyRuth is a single mum and has been saving for a home near her parents but was struggling to find one in her price bracket, where she could avoid the need for Lenders Mortgage Insurance. Her parents agreed to use a portion of their home equity to guarantee up to a total 20 per cent deposit on her $550,000 dream home around the corner from them. By doing this, Ruth was able to avoid expensive LMI costs.When Ruth moved in, her parents were able to help with child-minding, freeing her to accept a full-time role and increase her repayment schedule.Seven years later, with her increased repayments and a rising housing market, the Loan-to-Value ratio without the guarantee had fallen below 80 per cent, allowing Ruth’s parents to be released from their family guarantee obligations.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### On the up and up 13 tips to trading up in a hot property market.Climbing the property ladder can be a tricky manoeuvre in boom times but there are some simple steps to put you ahead of the pack.1. Sell then buy, or buy then sell? It’s an age-old dilemma but you need to evaluate the market to make a call. Selling first is typically a good strategy in a flat or falling market, and gives you certainty about what you can spend on a new home. But in a rising market, a buy first-sell later strategy can maximise your sale price. And there’s another advantage – having a property in your back pocket can give you an edge, which leads neatly to the next tip.2. Dangle a line: In a hot market buyers need to stand out from the pack. Your existing property could do the trick. Let agents know you’re trading up and will need to list your old home when you secure a new property. Listings rather than sales are the pain point for real estate agents at present. Although you’re not obliged to list with anyone, it should give agents an extra incentive to keep you in the loop and let you know about suitable properties they may have coming to market.3. Finance first: It sounds obvious because it is obvious, but ensure you have finance arranged before you start viewing properties. You don’t want to fall in love with a house and end up scrambling to put an offer together. In a market where agents are fielding bids even before the first open house, you need to be able to move fast and understand your limits. Have a deposit ready to go. And speak to us if you need assistance with your finance.4. Put experts on standby: Line up trusted professionals – from solicitors to building and pest inspectors – to run a ruler over any property or contracts as needed. When you see something you like, you need to be able to move fast to lock things in.5. Consider a buyer’s agent: It used to be just a US or high-end property trend, but buyer’s agents are becoming increasingly common in the mainstream property market. Many are former real estate agents themselves, so you’re paying not only for their knowledge but their connections. With a growing trend towards selling off-market, buyer’s agents can help you jump on properties not widely advertised. They also commonly bid at auctions to remove buyers from the stress and emotion of the process.6. Do your homework: Know your property and know the market. Don’t just look at listings, stay across recent sales by checking the sold tab on realestate.com.au and searching target suburbs. You should also find out as much as possible about any properties you are interested in before making an offer. CoreLogic’s property data service can help you find out who owns a property, how long they have owned it and what they paid. It may also tell you if they own any other properties. It may be helpful to know if vendors have bought elsewhere.7. Make a strong offer: A hot market is not the time to play games. Signal you are serious and open with a strong offer. When there are multiple buyers in the mix, vendors are unlikely to be drawn into an extended negotiation of offer and counter-offer.8. Offer to delay possession: While it may not necessarily cost you anything, offering the vendor extra time to move out could be an attractive proposition, particularly if they have sold before rebuying.9. Be flexible with settlement: Ask the agent whether the vendor would prefer a short or longer settlement and try to accommodate this in any offer if you can. Sometimes something as simple as this settlement term can make all the difference when a vendor has several similar offers.10. Put a deadline on your offer: While it is very much a sellers’ market at present, this tactic can return some power to buyers. Submit an offer with a deadline of 24 hours to receive a response. It lets vendors know that you are a motivated buyer and that there are other properties you are interested in if they are not serious about selling.11. Work the agents: Develop a relationship with the strongest-performing agents in your suburb. Get on mailing lists and call them every week or so to check in on new listings. Nurturing a personal relationship may give you an edge to get in for early property viewings or off-market listings.12. Cut out the middleperson: Why wait for someone to list before you offer to buy? Some professional real estate investors swear by conducting letterbox drops in their favourite streets or suburbs asking homeowners if they are interested in selling. This can be a good starting point if you’re looking at a tightly-held suburb.13. Lastly, don’t let FOMO rule your decision making. There’s a difference between being quick to act and being hasty.Looking to upgrade? Call anytime to run through your finance options for trading up.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for September 2021 Congrats to our September Winner – Bianca wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Bianca, and she’s won a $500 Bunnings voucher. Congratulations Bianca.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### September cash rate remains unchanged at 0.10% At its monthly meeting today, the Reserve Bank has again confirmed the official cash rate will remain at 0.10%.As the country starts to discuss what post-lockdown life will look like, the focus out of the meeting will be on the RBA’s government bond-buying program.Prior to last month’s meeting it was anticipated that the bank would defer previously announced reduction plans and maybe even increase bond purchases.Instead, it surprised the market by standing by its reduction plans.The purchase of government bonds, or quantitative easing as it is known, helps stimulate the economy by increasing the supply of money, keeping interest rates low and putting downward pressure on the Australian dollar which assists exporters.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business.We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### October cash rate remains unchanged at 0.10% At its monthly meeting today, the Reserve Bank has again confirmed the official cash rate will remain at 0.10%.Concerns continue to be expressed that record low interest rates are fuelling a housing boom, increasingly putting property ownership out of the reach of many prospective first home buyers and placing the wider economy at risk by creating a housing ‘bubble’.The RBA remains very reluctant to increase rates, fearing that doing so will result in an increase in unemployment and a further reduction in wage growth which could be just as harmful to the economy.The likely outcome is that the Australian Prudential Regulatory Authority (APRA) will look to cool the housing market by introducing so called macroprudential controls, aimed at restricting what it deems to be riskier borrowing for housing.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business. We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for October 2021 Congrats to our October Winner – Arthur wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Arthur, and he’s won a $500 Bunnings voucher. Congratulations Arthur.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### November cash rate remains unchanged at 0.10% While Melbourne Cup Day often brings a surprise, the Reserve Bank’s decision on the official cash rate earlier today contained no surprises, with confirmation the rate will remain at 0.10%.In line with previous commentary, the RBA has confirmed the view that it won’t be rushing into a rate hike, making it abundantly clear it wants to see that inflation is sustainably within the 2-3% target range.The RBA’s stance on rate hikes continues to confirm it remains committed to maintaining highly supportive monetary conditions to achieve a return to full employment with wages growth of around 3% or more.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business. We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for November 2021 Congrats to our November Winner – Courtney wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Courtney, and she’s won a $500 Bunnings voucher. Congratulations Courtney.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Summer 2021 Family favourite recipeWe love sharing yum recipes in Haven Food, and we’re after some new ideas. We’re on the hunt for a winning family favourite recipe. Does your dad whip up a lasagna you’d crawl over broken glass for, or is your sister the queen of baking the world’s best orange cake? Send us your family fave recipe for both the chance to win $1,000 and have your deliciousness featured in the next edition of Haven.How: send your recipe to  havencompetitions@afgonline.com.au placing ‘Family favourite recipe’ in the subject line.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on November 15 and closes on January 11.Winner: will be decided on January 12 and notified by telephone after this time.Terms and conditions: visit http://bit.ly/HavenWin. He knows if you’ve been naughty or nice, and from the number of photos we received for our latest Haven Win competition – the kids of Australia know it! Psychologists say that a child crying when placed on the knee of the bearded man in the red suit is a perfectly normal reaction. It’s simply an inbuilt self-preservation mechanism to beware of strangers. Which explains why so many family albums contain photos of terrified tykes unimpressed with the festive photo opportunity.Congratulations to Gemma who takes out the $1,000 first prize thanks to not only the bow-ties-and-braces double the trouble cuteness, but because Father Christmas looks a little too Evil Santa for our liking! And congrats to our $500 winning runner up Jaimi-Lee who managed to snap the mayhem of not one, but four wee Christmas elves fleeing Santa’s clutches!Merry Christmas everyone!Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Green loans – kind to the planet and your wallet Eco-friendly and budget-friendly are phrases that are rarely used together when it comes to real estate.But that’s changing fast with an enormous push to bring green homes to the masses.Cheaper technology and building designs are delivering affordable eco homes that can slash and even eliminate power bills. Some solar-powered properties are actually earning their owners thousands selling electricity back to the grid.Weigh that against those of us who’ve spent a fortune to warm and cool our houses while working from home, and you can see why energy efficiency is shaping up as one of the must-haves for new properties.And now finance – the final piece of the puzzle – is falling into place, with the launch of discounted rate green home loans to reward buyers who buy, build or renovate to prioritise sustainability.What is a green home loan?It’s finance that aims to encourage borrowers to build or buy environmentally-friendly homes, usually through discounted interest rates. There are cashback offers available too for refinancing a limited range of eligible properties – contact me for details.Green loans can also be used to retrofit existing homes with more energy efficient upgrades such as better insulation, solar panels, double-glazing or a battery to store solar power.To qualify for green finance, houses must meet specific eco-friendly benchmarks – generally at least 7 stars out of a possible 10 on the Nationwide House Energy Rating Scheme (NatHERS). The scheme ranks the thermal performance of properties, with the maximum score of 10 stars indicating a house will not require any heating or cooling to maintain a comfortable indoor temperature year-round. Most States require new homes to reach a minimum 6-star rating, which is fair but not outstanding.As a guide, one study by Sustainability Victoria found houses built before 1990 averaged only 1.6 stars, while those constructed from 1990-2005 were 3.1.Why offer incentives?The property sector accounts for about 23 per cent of Australia’s greenhouse gas emissions, according to the Australian Sustainable Built Environment Council (ASBEC). And about half of those emissions come from residential properties, mainly through electricity used for heating, cooling and powering hot water systems.Australia’s Clean Energy Finance Corporation (CEFC) has provided funding for the lending and construction industry to encourage investment in more energy efficient housing. Developers around the country are getting on board, offering high-spec sustainable house-and-land packages at comparable prices to standard builds.How do the costs of an eco-home stack up?Apart from feeling good about doing your part, sustainable homes can now offer price advantages in three areas:Lower mortgage rates: Discounted interest rates – some limited to an initial five-year period – can shave a significant amount from monthly repayments.Lower running costs: In the past 18 months many of us have spent a lot of time at home and gained a pretty good idea of just how thermally efficient (or inefficient!) our homes are. A study led by Curtin University1 found average savings on electricity bills of around $1,750 a year for families in energy-efficient housing.Higher and faster resale: We all look at star ratings before buying appliances. Homes should be no different. High star-rated homes can fetch a 10 per cent premium and sell about two weeks faster than standard homes, according to a 2018 study by PRDNationwide.The real equation is how do the additional costs associated with building sustainably compare to the savings? Again, according to research from Curtin Uni, a net zero home – one that produces more electricity than it uses – only need cost $20,000 (or 6-11 per cent) more than a standard comparable home. It’s a price difference researchers estimated annual energy savings should claw back within ten years.Want to find out how going green could stack up for you? Get in touch to discuss the range of green loans on the market.CASE STUDYRetired Brisbane mathematician David says the stars aligned when, within the space of a few weeks last year, he heard about new green loans, saw his dream block of land up for sale and inherited some money.It all came to fruition in April this year when he moved into his newly-completed, 8.7 star-rated energy efficient home in the Brisbane suburb of Sherwood, where he is living the green dream. Not only has David not had a power bill since he moved in, but he has also been earning about $200 a month selling electricity back into the grid from an enormous 20 kW rooftop solar system.“It’s a lovely house and it’s performing very well,” David says of the net-zero three-bedroom home. “I went through all of winter and I didn’t use any heating.” And last month, when Brisbane had a record-breaking 36.6-degree day, he didn’t even turn on a fan, with his house remaining a warm but comfortable 26 degrees.A life-long environmentalist, David says he was motivated by sustainability rather than savings when he approached several banks last year looking for a discounted green loan to construct an architect-designed eco-house. Although he considers his build expensive at well over $600,000, this could have been substantially reduced by using generic design plans and reducing some technology specs, he says.“I hope a lot of people read this and think, hey that would suit me, because the more people that build energy efficient houses, the less we’ll need to make electricity and the more we can make it on our own roofs,” he says.David’s tip: Do your research on green loan criteria before purchasing land, as he had eligibility issues with one bank over the block he had already purchased.1 Dr Josh Byrne, Dr Christine Eon & Dr Andrew Law, Mainstreaming Net Zero Energy Housing – cost benefit analysis, Co-operative Research Centre for Low Carbon Living, 24 June 2019.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Come to the dog side The key to making money is spotting a gap in the market. And there’s a large pet-shaped hole in Australia’s rental market.More than 60 per cent of Australian households have a pet these days, yet it’s reported only about 10 per cent of rental properties allow them.It’s become more of an issue recently, with lockdowns highlighting the important emotional support role pets play. In the past two years, several Australian States have introduced new pet-friendly rental laws restricting the ability of landlords to exclude tenants with fur babies.But financially, it’s not a smart move to lock out the pet market either, because surveys have shown people who keep pets:Earn more money, on average, than those without.Are willing to pay 7-14 per cent more than standard renters.Often lock in longer leases, so can make more stable, responsible tenants.To maximise rental yields, landlords should think about not just accepting pets, but actively chasing the fur dollar by making sure their property has a bit of animal magnetism.Choose wiselyIf you’re thinking about buying an investment property but haven’t taken the plunge, consider outdoor space and access to dog parks. These will make your home more attractive and valuable to the pet market.Pull the rug out from under themCarpeting is not easy to maintain in any rental property, but particularly one with pets.Laminate ticks plenty of boxes as an alternative. It’s inexpensive, but can be stylish. It is also hard-wearing, easy to clean and non-porous, so it’s not going to let any accidental spills seep down to the floorboards.Show them the doorInstalling a dog or cat flap can help seal the deal for pet lovers and may help limit potential damage from animals scratching at doors to be let in or out. An outlay of a few hundred dollars can add the wow factor of a smart pet door. These pair with a collar-worn sensor to lock and unlock the door flap as pets approach.Fence itA secure, fully fenced garden is a huge selling point for people with pets (and toddlers).While you’re at it, it may also be worthwhile checking your yard for common plants that may be toxic to animals. Many types of lilies, the popular purple and white flowering tree yesterday, today and tomorrow (Brunfelsia pauciflora) and agave can all cause illness if ingested.Be open to suggestionsLet your tenants know you are open to them installing pet-friendly additions, provided they get permission. Done correctly, these may add value for future tenants.Target the marketThere are specific websites for pet-friendly rentals. Ensure you advertise on these to maximise your market and rental income potential.Keep it simpleSupplying useful equipment can make a big difference, particularly to maintaining your property. If you have a lawn you’d like looked after, make it simple by providing scoopers and even a doggy compost system. There are several types of compost bins designed specifically to break down pet poo. Here’s a fun fact – in the US pet droppings in common outdoor areas of rental properties are such an issue that companies (including one called PooPrints) actually make money linking stray poos to pets via DNA analysis. The system is used to police large apartment complexes, where all pets must submit to a cheek swab for reference when they move in.Cover your assetsLastly, check whether your landlord’s insurance covers you for any damage caused by pets. With more States passing pet-friendly rental laws, coverage for pet-related incidents is being offered as standard on some policies. Do your homework to make sure you don’t end up holding the doggy bag. Thinking of investing? Call to run through a range of options for getting into the rental market.What’s the state of the State’s rental laws?ACT: In 2019 pet-friendly tenancy laws were enacted, which meant landlords could not refuse tenants the right to keep pets unless they applied to a State tribunal and demonstrated reasonable grounds, such as undue risk of injury or damage.Victoria: In March 2020 new laws came into effect allowing tenants to keep pets, unless the Victorian Civil and Administrative Tribunal upholds that the landlord has reasonable grounds for prohibiting them.NT: In January this year the Territory adopted a similar system to Victoria and the ACT, with landlords needing to argue their case before a State tribunal to refuse tenants the right to keep a pet.NSW: In August 2021 the Government moved to prevent blanket bans on pets in apartment buildings. Instead, there are limited grounds – such as damage to common property, menacing behaviour, persistent noise and odour – under which an individual apartment owner may be prevented from keeping pets. However, renters in both apartments and houses still face the obstacle of landlords. While existing laws don’t prevent pets, or require tenants to ask permission to keep them, landlords can, and often do, include a no-pets clause in lease agreements.Queensland: State Parliament this month passed amendments that require landlords to give “reasonable grounds” for refusing to allow a tenant to keep a pet. Landlords would be able to impose reasonable conditions on pet leases, including that a pet be kept outside and the property fumigated and carpets cleaned at the end of tenancy.WA: Landlords can refuse pets without a reason. WA is the only State with a pet bond of $260 to cover fumigation costs.SA: Tenants must ask permission and landlords can refuse pets without giving a reason.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Go guilt-free this Christmas We’ve had sober October, now try low-spender November. It may not seem like it, but the lead in to Christmas is the perfect time for a financial detox. Not only will it stop you losing control of festive spending, it’ll set you up to start the new year on the right track.Rein in your streamingThere’s only so much time in the day. And now lockdown threats are easing, it’s time to prune those streaming services. Cutting just one can save hundreds a year. Set aside five minutes to go to the App Store or Play Store and rationalise your subscriptions.Many mobile carriers offer free or discounted access to streaming platforms, so consider using your phone plan to offset your streaming. You might also be surprised what free-to-air channels like SBS and ABC have on offer on their platforms.A Canstar Blue survey conducted this year found Aussies spend an average of $42 a month on streaming, with 28 per cent admitting they share login details with friends to save money.Try a two-week spending cleanseNo kale involved. Just an iron will. Cut all non-essential spending to kick start your detox.And be ruthless about what is essential. It will highlight just how much cash is leaking to discretionary spending on coffee, clothes, magazines, take-away and transport.Before you start, stock up on essential groceries and fill your tank. That way you’re stocked up on snacks and have fewer reasons to duck to the shop for emergency supplies. If you can, extend it to four weeks and direct your savings to pay off Christmas gifts – they’re essential, right?Sic a tracker on yourselfThe boom in tap-and-go, along with automated payment systems, has made it hard to keep track of where your money is going. And that’s exactly how it’s been designed. Try Googling “pain of paying” to understand how going cashless has tricked us into thinking we’re not really paying at all.Be aware of psychological spending traps and wise up with a money tracker. These popular apps link to your bank and online payment systems to categorise all your spending – even automated subscriptions – under headings such as entertainment, food and clothing. It’s an easy way to keep an oversight of your outgoings.Organise Christmas onlineChristmas is expensive – there’s no way around it. But it doesn’t need to feel overwhelming or out of control. Panic buying and impulse purchases are the natural enemies of festive financial plans, so make a strict list and a budget for your gift buying.Don’t go to a shopping centre without a clear idea of what you need – there’s too much temptation. Research and/or shop online, so you can look for only what you want at the best prices.Don’t click on temptationWhen scrolling through social media, resist the temptation to click on ads. If you haven’t actively searched for it, you don’t need it. And you’re only going to be bombarded with more ads for things you may find hard to resist. Unsubscribe from promotional catalogues and try to let go of sale FOMO. There will always be another one.Change your outlookShifting your mindset will make you feel more positive about spending less. It can also lead to long-term behaviour change, which is what a financial detox is all about. Try not to think of saving money as missing out; it’s about choosing to live and consume more thoughtfully.The rise of conscious consumerism means being frugal is the new Marie Kondo, without all the weird T-shirt folding.Make it a challenge to borrow from friends (and vice versa) or buy second-hand when you can. Take pleasure in generating less waste through a more minimalist lifestyle.Discover things like your local tool library or library of things to avoid buying expensive but infrequently used items.Cash in clutterPre-Christmas is the perfect time to sell anything you no longer need to put extra cash in your pocket. Cull your wardrobe and clear out things like toys, books and sporting equipment. Online marketplaces are a simple place to buy and sell.Let yourself failNo one can be good all the time, so allow yourself a cheat day occasionally, when you can splurge on a night out or something you just can’t resist. Most diets fail because they’re too unrelenting. It’s the same with changing spending habits. One slip doesn’t mean you need to give up, in fact it may make you more determined to succeed. So good luck and be kind to yourself.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Summer 2021 Did you know the world has a global doomsday seed vault?Plunging deep inside a mountain on a remote island in the Svalbard archipelago, halfway between Norway and the North Pole, lies a global insurance policy seed vault. Every type of the world’s crop seeds – the largest collection of crop diversity on the planet – is stored here. The millions of seeds have been contributed by almost every country in the world – including Australia. It’s a collective planet pantry of important grain and pasture crop varieties such as rice, maize, wheat, eggplant, barley, lettuce and potato. The bunker is built to stand the test of time and the challenge of natural or man-made disasters. In case of any eventuality, the vault means that we would be able to restore the world’s food crops.Containing a series of underground chambers, the vault penetrates more than 100 metres into the mountain, with just the entrance visible. Thanks to permafrost and the thick rock it sits deep within, the precious cargo of seeds will remain frozen even without power. The vault is also located far above sea level, protected from flooding if sea levels rise.The Norwegian Government funded construction of the vault, which now operates on donations from foundations, governments, the private sector and individuals.croptrust.orgWhy are nearly 60 per cent of Australian mortgages written through a mortgage broker like me?I give you access to multiple loans from multiple lenders, providing you with the benefits of competition and choice.I do the hard yards on your behalf when it comes to researching for a home loan that suits you. Buying a home is exciting, but it can be stressful – I can help ease any pain points by dealing with the lender and managing your application all the way to approval.Because I work for my customers, and not the banks, my sole focus is finding a loan that is the right fit for you. Together we’ll look at your unique circumstances, your financial situation and goals, before I recommend a loan that makes financial sense for you.It’s my job to stay up to date with what is happening in the market so I make the right recommendations for my customer. I stay across industry, economic and regulatory shifts so you don’t have to worry about any unexpected roadblocks.Festive Fish FeastWhile a glazed ham and roast turkey might be the traditional heroes of a festive table, let’s face it – a sunny Aussie Christmas lends itself to a table laden with a sensational seafood spread. Be it prawns, oysters, crayfish or smoked salmon, thrown on the barbecue or prepared the day before and served chilled. Let’s step through a few ideas for a festive seafood feast.Don’t come the raw prawn with me: serve fresh prawns simply cooked and chilled on a big platter with wedges of lemon and a citrusy dipping sauce. Or throw them on the barbie – marinating and grilling seafood is a match made in heaven. Perhaps lightly dress fresh cooked and chopped prawns with sour cream, parsley and a squeezed and zested lemon before heaping it onto toasted slices of baguette for a jaunty canape-style starter. Prawns always please a peckish pack.The world is your oyster: fresh oysters that taste of the sea are perfection au natural, but they also sing when topped with an Asian-inspired sweet and sour dressing. Or go retro and bring back oysters Kilpatrick – bacon makes everything better!Go the whole hog: a whole salmon looks so impressive as the centerpiece of a festive table, and take your pick of cooking methods: it can be poached, baked (with capers and fresh herbs), barbecued or cured gravlax style. Or visit the fishmonger for a whole snapper and bake it en papillote with heaps of fresh herbs, lemon and olive oil.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### December cash rate remains unchanged at 0.10% At its board meeting today the RBA confirmed the official cash rate would remain at 0.10%.This was no surprise given that at its last meeting the bank confirmed that to consider an increase it would need to see underlying inflation between 2% and 3% on a sustainable basis, full employment and materially higher wages growth.Increases to the headline inflation rate, driven mainly by the rising cost of fuel and new housing, have however seen markets speculate that rates will rise before the RBA’s forecast date of 2024.Whilst overall home loan interest rates are still close to historical lows, this speculation has seen many lenders increase their fixed rates.Rates are at a record low and lenders continue to offer very competitive rates. We can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because we do this type of work every day, we have a pretty good idea what lenders can do to win or keep your business. We’re here to help if you have any questions or wish to review your circumstances. Please don’t hesitate to give us a call.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for December 2021 Congrats to our December Winner – Grace wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Grace, and she’s won a $500 Coles Myer voucher. Congratulations Grace.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for January 2022 Congrats to our January Winner – Daniel wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Daniel, and he’s won a $500 Bunnings voucher. Congratulations Daniel.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### February cash rate remains unchanged at 0.10% The Reserve Bank today confirmed the official cash rate will remain at 0.10% for the foreseeable future.Rising inflation and falling unemployment led to speculation in the lead up to the meeting that the RBA would be forced to reassess its 2024 forecast for the next rate rise.With future rate rises linked to wages growth, all eyes will be on the minutes of the meeting for any update on that guidance.With record-low rates on hold for the moment, competitive terms are still available to borrowers who act now.I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.It never hurts to ask the question, so get in touch to review your options.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for February 2022 Congrats to our February Winner – Phillip wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Phillip, and he’s won a $500 Bunnings voucher. Congratulations Phillip.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Autumn 2022 Funny things kids sayIf you have a child, or have spent time in the company of rug rats, you’ll know that kids can be brilliant – and hilarious – little philosophers. Regale us with the funny things your kids have said for the chance to win $1,000.How: in 250 words or less, send the thing your little one said, together with their age at the time to havencompetitions@afgonline.com.au or by completing this form.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on February 14 and closes on April 11.Winner: will be decided on April 12 and notified by telephone after this time.Terms and conditions: visit http://bit.ly/HavenWin  Congratulations to Jenna who has won $1,000 by sharing her family favourite recipe of a scrumptious eggplant parmigiana. Layered with a rich, garlicky tomato sauce, parmesan and buffalo mozzarella, this dish is sure to impress the most committed carnivores! We suggest you add Jenna’s recipe to your Meat Free Monday repertoire – you won’t be disappointed. Check out Haven Food for the winning recipe.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Going for broker In a year when just about every real estate record was broken, home buyers turned to mortgage brokers in droves.More than two-thirds – a record 66.9 per cent – of residential mortgages were written by brokers in 2021.1 That’s a leap of 6.8 per cent on the year before and continues an astonishing climb from 2016, when the industry represented 50 per cent of the market.You don’t see that sort of rise unless you’re doing something right. So, let’s consider what brokers have brought to the table.Trust: you’re a legal priorityIt’s no coincidence that the biggest year for broking kicked off with the introduction of new consumer laws to make mortgage broking the gold standard in lending. Known as Best Interests Duty, the new laws took effect from January 1, 2021,2 and mean we’re now proudly held to a higher standard than branch lenders. Brokers have a legal obligation to show we have acted in our clients’ best interests at every point of the lending journey. This means taking the time to understand your financial situation and priorities as well as making sure you understand your lending choices. It’s been a win-win for consumers and brokers.ChoiceWhen he launched the model T, Henry Ford famously said buyers could have any colour as long as it was black. It can be a similar story going to a single lender – any loan as long as it’s theirs. Mortgage brokers have always aimed to deliver real choice, with products from a broad range of lenders spanning traditional banks to the newer non-bank and niche lenders. This fuels competition and expands options by helping smaller lenders reach more consumers, particularly those in rural and regional areas.SimplicityEveryone wants a greater choice, but sometimes it can be overwhelming. Should you go fixed, variable, or split? And what about add-on features – do you need an offset account, flexible repayments or a redraw facility? One of the most important things I can deliver is simplicity. You can’t be expected to be across the mortgage market, but I can. It’s the core of my job to understand your priorities, understand the market and help arrange a happy marriage between both. I’ll do the legwork, but also make sure you understand your options.Fighting your cornerWe work for borrowers, not lenders. And that means advocating for you at every stage. Our experience helping other clients also means we’re aware of any unadvertised/discretionary deals and discounts lenders have offered previously, so we have a good understanding of just how flexible (or not) they can be.TransparencyBroker fees are usually paid on a commission basis by lenders, rather than borrowers, with very little difference in commission rates between lenders. We are required to be absolutely upfront with you about what we will earn from the different loan options available to you. Best Interests legislation introduced last year means brokers have a legal duty to ensure our recommendations are based on the best possible deal for consumers, without consideration of/for commission payments.Keeping them honestMortgage brokers help drive interest-rate competition, with a Deloitte report noting the net interest margin big banks earned on residential loans fell an average of three per cent in the decades after the industry established in Australia.3 This downward pressure on profit margins continues to deliver maximum value to consumers.ConvenienceIf we’ve learned one thing in the past two years, it’s where the mute button is on Zoom. Convenience is now about more than just flexible appointment times, it’s about flexible appointment options: phone, online or in person. Get in touch to arrange what works for you.It’s not a one-offFinding a home loan through a broker is about building a relationship, not making a deal.We’re in it for the long haul. That means running an annual health check on your mortgage to make sure it still works for you at every stage of your life, whether it’s paying down principal, refinancing, renovating or looking towards retirement. The better we get to know you, the better we can help.1 More than two in three home loans written by mortgage brokers, Mortgage and Finance Association of Australia, November 29, 2021.2 Mortgage Brokers: Best Interests Duty, Regulatory Guide 273, Australian Securities and Investments Commission.3 O’Mahony, J., The Value of Mortgage Broking: Assessing the industry’s role in the economy, Deloitte Access Economics, 2017.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Don’t do your block A good neighbour is a valuable asset, but backyard squabbles are on the rise.When you buy a new home, one of the greatest unknowns is over the fence. You can inspect the building, scope the drains, and survey the boundaries – but you never really know what you’re buying into next door.During the past two years we’ve all seen (and heard) a lot more of our neighbours. And it hasn’t been a bonding experience for everyone.Mediation services have reported calls from feuding neighbours – already on the rise pre-Covid – have skyrocketed. WA’s Citizens Advice Bureau told ABC news they averaged 40 calls a week in 2021, a massive surge from just one every two weeks in 2014.So, what gives? Are we becoming more annoying, less tolerant, or both? And have we forgotten how to simply knock on a door and sort it out ourselves? More and more people are resorting to legal action, mediation or calling in the council. Many disputes begin over minor matters that escalate. According to mediation services, the top causes of fallouts include:Fences: the condition and location.Trees: branches that overhang or block views and roots that damage property.Animals: barking dogs and other noisy or smelly pets.Privacy: structures that overlook other properties or the removal of screening plants.Noise: blowers, power tools, air-conditioners and pool pumps.Children: noisy or rude kids.Access: parking across driveways or on shared easements.Retaining walls: can cause visual or drainage issues.Get off on the right footThe best way to avoid a dispute is to have a friendly relationship in the first place. Sunday March 27 is Relationship’s Australia’s 20th annual Neighbour Day. It aims to highlight how neighbourly bonds alleviate loneliness and boost mental health and is a timely reason to launch a charm offensive. Remember some golden rules.Say hello: Make sure the first time you meet your neighbour isn’t when you’re screaming at them about their Spotify playlist at 1am. An occasional wave is all it takes, but remember the line between friendly and nosy.Build brownie points: Taking in or putting out a neighbour’s wheelie bin goes a long way to generating goodwill. Let them know you’re happy to watch their house or collect mail when they’re away and they’re likely to reciprocate.Show respect and tolerance: We’re all going to annoy our neighbours at some point, so exercise a bit of give and take. Give advance warning if you have a party or noisy project planned and try to roll with it when they’re rowdier than usual.Mending fencesIf an issue does arise, you don’t want to end up on a current affairs program brandishing security cam footage of each other. Nothing beats a face-to-face chat. Leaving a note in a letterbox is easier, but can seem abrupt and confrontational. And it’s particularly provocative to film people. Consider how you’d feel on the receiving end.Before making an initial approach, think carefully about what you want to say and get your timing right. Don’t stroll up when they are rushing off to work or taking the kids to school.ListenOnce you have explained your issue, be prepared to hear their side. Resolving it may involve compromise on both sides so be prepared to give some ground. In fact, before you approach them, spend some time considering this and go armed with solutions not just problems.Neighbour from hell?Sometimes being reasonable just doesn’t work. In these rare instances, it’s worth keeping a record (dates and times) of incidents and interactions. Your local council or police may help if behaviour amounts to a breach of council or state laws.Don’t underestimate the mental and physical toll – not to mention monetary – if it ends up in legal action. If all else fails, you can seek free and independent mediation services:NSW: Community Justice CentreVictoria: Dispute Settlement CentreQueensland: Dispute Resolution CentreWA: Citizens Advice BureauSA: Uniting Communities Mediation ServiceACT: Conflict Resolution ServiceNT: Community Justice CentreTasmania: Legal AidDid you know?Simmering tension with neighbours can affect not only your health and happiness, but your resale value in some countries.In England it’s illegal to sell a house without declaring an ongoing dispute with a neighbour that affects liveability. And it doesn’t just apply to a documented legal stoush, it covers any continuing friction.In 2003 a couple in Hampshire had to refund $125,000 (£67,500) – more than half the original sale price of their home – when a court found they failed to declare a long-running dispute with a neighbour over parking on a shared access road.1On the flipside, having a good neighbour can be helpful, and amusing. Queensland resident Nick Doherty texted his neighbour Carl Stanojevic in December last year to ask him to “take his bin out.” Carl dutifully loaded his neighbour’s wheelie bin into the back of his car and took it on a wonderful day out – to the beach, the local surf club and a local pub, sharing photographs on Facebook. The neighbourly prank gained both men international attention.(And, yes, Carl did empty and wash the bin before taking it out).Photo credit: Carl Stanojevic1 Dyer, C., £67,000: The price of lying to the people buying your house, The Guardian, 4 March, 2003.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Loyal to a fault It may be an admirable trait in personal relationships, but in financial matters, loyalty can come at a cost.Sticking with the same loan longer than three years can cost borrowers thousands, with competition to win business resulting in new customers paying lower rates than existing ones.This so-called loyalty tax has become such a hot topic, the Australian Competition and Consumer Commission has recommended mortgage holders review their options regularly and consider switching to secure better terms. Now is a great time to follow that advice and get in touch.Rush to resetHomeowner refinancing has hit an all-time record in the past six months, and it’s easy to see why, with interest rates at long-term lows. But it’s not just fixed rates borrowers should have their eye on. Homeowners with variable rates need to check they aren’t unwittingly paying a loyalty tax too.Reserve Bank figures show owner-occupiers who took out new variable loans in October 2021 paid, on average, 2.63 per cent interest, while those with existing variable loans paid rates around 0.37 per cent higher rates at 3 per cent.1 On a loan around $350,000, that’s potentially adding an extra $1,295 in interest each year.As a customer there’s few things more galling than finding out someone who came to the party late has been given a bigger slice of cake than you. That’s why the most empowering thing you can do is to simply shop around, which is what I can do for you.Annual reviewBeing financially savvy is about developing good habits, and one of the best for homeowners is to book an annual appointment to review your home loan arrangements.The start of a new year is the perfect time to dive in. People usually have a little more headspace before the year really ramps up and finding savings can be a great cure for that summer spending hangover.Speak to me to check how current variable rates compare, or perhaps it’s a good time to consider locking in a deal. Fixed rates have increased recently and speculation is mounting about a possible official interest rate rise in late 2022 or early in 2023.More than interest onlyOf course, refinancing isn’t always about interest rates alone, although they are a big part of the equation. It may be about building more flexibility into your loan with offset and redraw facilities, the ability to make additional repayments, or unlock equity for a renovation, a major purchase or holiday.Some borrowers may even want to consider options such as splitting a home loan between both fixed and variable options.It’s all about what your goals and priorities are right now, and we all know that can change unexpectedly year on year.Broker insightThe home loan market has never been more competitive and we’re adding more lenders to our panel each year, with more loan products and features. It can be daunting, but it’s also where I can offer you an advantage in guiding you through what’s out there to meet your needs.I can also help calculate how any potential savings stack up in the short and long term against any search and switch costs. It’s important to stay on top of rates and offerings in a fast-moving market. So, get in touch to arrange a quick check-up for your home loan.1 Lenders’ Interest Rates, Reserve Bank of Australia (published monthly online: rba.gov.au/statistics/interest-rates/#lenders-rates-table)Add it upIn December 2020, the Australian Competition and Consumer Commission released the final report of its Home Loan Price Inquiry, concluding people with older home loans were potentially paying thousands more in interest than new customers. And it’s not just about falling interest rates. Newer customers are often able to secure variable loans at lower rates than existing customers because of competition to secure business, the report found.And the older the loan, the worse the disparity. In September 2020 (when the report was compiled), owner-occupiers signing new variable-rate loans were paying an average interest rate of 2.62 per cent, meanwhile:Owner-occupiers with 3-5 year-old variable rate loans paid an average rate of 3.20 per cent.Owner-occupiers with variable loans 5-10 years old were paying 3.33 per cent.Owner-occupiers with a variable loan greater than 10 years old were on 3.66 per cent.On an average loan balance of $350,000, those with older loans could save up to $3,640 a year in interest payments by switching. (See table below).Little wonder one of the major recommendations of the inquiry was for lenders to send annual prompts to customers with loans older than three years to encourage them to review and consider refinancing. While lenders, perhaps understandably, haven’t run with the advice to encourage their clients to switch or push for a lower rate, I’m happy to help you regularly compare your deal to the current market.Age of variable home loan at Sept 2020New3-5 yrs5-10 yrs>10 yrsAverage interest rate at Sept 20202.62%3.20%3.33%3.66%Additional annual intrest paid on $350,000 loan $2,030$2,485$3,640Source: ACCC Final Report: Home Loan Price Inquiry, December 2020Source: Home loan price inquiry – final report, The Australian Competition and Consumer Commission, 5 December 2020. (accc.gov.au/publications/home-loan-price-inquiry-final-report)Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Autumn 2022 Aussie rhyming slangAre you having a “Barry Crocker” of a day?Rhyming slang was born out of London’s east end in the 1800s, with the Cockneys no doubt taking the crown for their rhyming linguistic acrobatics. Our English roots meant it wasn’t long before rhyming slang made its way to the Antipodes. And as it evolved, our version took on a uniquely Australian flavour. Here are some of our favourites.Dog and bone / phone: “Hurry up and get off the dog and bone.”Bag of fruit / suit: “Dressed up like a two bob watch in his new bag of fruit.”Barry Crocker / shocker, a poor performance: “His first attempt was a Barry Crocker.”Butcher’s hook / crook / also a ‘look’: “He’s butcher’s hook.” (unwell) “Take a butchers.” (look)Dead horse / tomato sauce: “I’ll have some dead horse with my pie thanks.”Pat Malone / being alone: “I’m on my Pat Malone.”Frog and toad / the road: “Time to hit the frog and toad.”Rubbity dub / pub: “Off down the rubbity dub for a couple of cold ones.”Hugs ‘n’ kisses / missus: “The hugs ‘n’ kisses will be joining us soon.”Noah’s (Ark) / shark: “Went for a snorkel yesterday, Noah’s everywhere.”Reg Grundy’s / undies, from Reg Grundy, an Australian TV producer: “Don’t get your Reg Grundy’s in a knot.”Jack and Jill / bill: “Let’s finish our meal and ask for the Jack and Jill.”Porkie pie / lie: “When you hear the full story, it’s obviously a porkie pie.”Sky rocket / hip pocket: “Whack the change in your sky rocket.”ScorcherModernister Books RRP $39.95Comedian, radio host and design enthusiast Tim Ross brings us a collection of evocative short stories about the Australian summer. His beautifully crafted words are accompanied by old photographs from the National Australian Archives. The soft crash of waves that blissfully block out all other noise, the smell of two-stroke and lawn clippings, the first sip of cold beer, the laboured whir of the ceiling fan, the sound of a bag of ice hitting the pavement, that feeling of salt on skin and even the smell of prawns on bin night. Tim’s wistful, nostalgic story telling captures Aussie summers past.Eggplant parmigianaWinning recipe from our reader Jenna.3 large eggplantsOlive oil1 onion, peeled and chopped1 clove garlic, peeled and finely sliced1 heaped teaspoon dried oregano2 x 400g tins of good-quality plum tomatoesGround black pepperA splash of wine vinegar1 large handful fresh basil, roughly chopped3 large handfuls of grated parmesan cheese150g buffalo mozzarellaPrepare the eggplant: remove the stalks, slice into 1cm thick slices, layer on a tray, sprinkle with salt and set aside to ‘sweat’ for a few minutes.Prepare the sauce: while the eggplant ‘sweats’ put 3 lugs of olive oil into a large pot on a medium heat. Add the onion, garlic and dried oregano and cook until the onion is soft and the garlic has a tiny bit of colour. Add the tinned tomatoes. Give the mixture a good stir, breaking up the tomatoes, then put a lid on the pot and simmer slowly for 15 minutes. When the tomato sauce is reduced, season with salt, pepper and a swig of wine vinegar, then add the basil.Grill the eggplant: while the sauce cooks, transfer the eggplant to a colander/sieve, rinse and pat dry. In a pan or grill, cook the eggplant in batches in olive oil until lightly cooked on both sides.Layer ingredients in a roasting pan: start with a thin layer of tomato sauce, then a scattering of parmesan, followed by a single layer of eggplant. Repeat these layers until you’ve used all the ingredients up, finishing with a little sauce and another good sprinkling of parmesan. Top with slices of buffalo mozzarella. Bake at 190C for 15 – 20 minutes until golden, crisp and bubbly.Interesting eggplant factsEggplants might pose as a vegetable, but botanically they belong to the berry family.13th century Italian folklore believed eggplants caused insanity – the Italian word for eggplant is melanzana, which translates to ‘apple of madness’.There are hundreds of varieties of eggplants. The name eggplant came from a small, white variety that looks like a chicken egg.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### As expected, RBA cash rate remains unchanged for March As widely expected, the RBA board confirmed today that the official cash rate would again remain at 0.10%.With inflation now within its target band of 2-3%, markets have been speculating the RBA will increase rates as early as June this year.The Central Bank will be closely monitoring for any signs of additional inflationary pressure. Particular focus will be on price rises due to commodity supply chain issues resulting from Russia’s invasion of Ukraine and the flood disaster in Queensland and Northern NSW.With record-low rates on hold for the moment, competitive terms are still available to borrowers who act now.I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.It never hurts to ask the question, so get in touch to review your options.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for March 2022 Congrats to our March Winner – Michelle wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Michelle, and he’s won a $500 Coles Myer voucher. Congratulations Michelle.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Keeping consistent, RBA cash rate remains unchanged for April The RBA has remained consistent in wanting to see a sustained period with inflation in their 2-3% target range and steady wages growth before raising the cash rate.With global uncertainties remaining and modest wage growth, expect the Reserve Bank to continue to closely monitor supply chain disruptions, increasing energy prices and global events. The RBA has committed to patience in determining when inflation is sustainably at target.With record-low rates on hold for the moment, competitive terms are still available to borrowers who act now.I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.It never hurts to ask the question, so get in touch to review your options.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for April 2022 Congrats to our April Winner – Kirsten wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Kirsten, and she’s won a $500 Bunnings voucher. Congratulations Kirsten.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### As expected, RBA cash rate has increased for May At its monthly meeting today, the Reserve Bank has decided to increase the official cash rate from 0.10% to 0.35%.An increase in rates has been highly anticipated following the release of higher than expected inflation figures last week.There was however speculation that the RBA may have delayed this increase until after the federal election and until it was satisfied there was evidence of sustainable wages growth.Lenders can set rates independently of RBA movements and their responses to this rate hike may vary.I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.It never hurts to ask the question, so get in touch to review your optionsAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for May 2022 Congrats to our May Winner – Elisabeta wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Elisabeta, and she’s won a $500 Coles Myer voucher. Congratulations Elisabeta.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for June 2022 Congrats to our June Winner – Cameron wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Cameron, and he’s won a $500 Bunnings voucher. Congratulations Cameron.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Once again, RBA cash rate has increased for June The Reserve Bank today decided to increase the cash rate, by 0.50% to 0.85%.The RBA has made the decision to increase rates primarily as a lever to return inflation to its target levels, which is currently sitting higher than target at 5.1%.Wage growth is currently at 2.4%, which in real terms is -2.7% (inflation less wages growth). This means that Australian workers would be increasingly worse off if inflation is not reigned in.Lenders can set rates independently of RBA movements and their responses to this rate hike may vary.I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.It never hurts to ask the question, so get in touch to review your options.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Will your budget stretch beyond the sticker price? House prices have surged, meaning hidden costs associated with buying a home have jumped too.If you’re on the hunt for a new property, it’s worth checking your budget still covers the extras that can add tens of thousands to your costs.In the past two years, the average house price in Australia has leapt more than 30 per cent.That can have a major impact on extras, particularly fees that vary based on the value of the property.Among the charges to take into account so you don’t get caught short are:Stamp duty (sometimes called transfer duty).Transfer fees.Building and pest inspection.Mortgage registration and transfer fees.Conveyancing and legal fees.Loan application or establishment fee.Lenders mortgage insurance.Council rates.Do your homework, as different State and Territory Governments levy different amounts and have varied exemptions for first-time, lower-income or off-the-plan buyers. The cost of your home will often determine whether you are eligible for discounted fees, so going over budget in a hot market can have a knock-on effect. Contact me if you’re unsure how different charges apply to your situation, and we can run a quick check on your current budget.Stamp dutyLet’s tackle the largest fee first. What is stamp duty anyway?In Australia, it dates back to the 1800s when governments stamped transfers of title deeds to track ownership and ensure people were buying from the rightful owner.It’s now a significant source of revenue collected by State and Territory governments and can vary widely.The median price of a home in Australia is $920,100 and, depending what State you’re in, stamp duty can range from $27,255 in Queensland to $50,276 in Victoria.Many States offer exemptions or discounts for first home buyers, or owner-occupiers buying off-the-plan, but it’s usually restricted to properties priced significantly below the market average. Check what exemptions your State or Territory currently has in place, as there are substantial savings if you can make it work.There’s always talk about doing away with stamp duty, but don’t get too excited. Taxes rarely vanish, they’re just levied in new and exciting ways. Most economists argue an annual property tax would be more stable, efficient and fair, saying stamp duty disproportionately taxes those who move house more often. The ACT is half-way through a 20-year plan to transition from stamp duty to property tax. NSW is proposing reforms on an opt-in basis with buyers able to choose between paying stamp duty or an annual land tax when they purchase a property.Building and pestIt’s becoming more common for sellers to have their own building and pest report commissioned and made available to prospective buyers which can cut this cost. However, some buyers may still be more comfortable seeking their own.Building and pest inspections aim to identify structural defects, damage, drainage issues and signs of infestation by problem insects such as termites.Depending on the property, you may also consider a pool inspection (about $200) or a plumbing inspection (about $300) to run a camera down stormwater and sewerage.Mortgage registration and transfer feeThis charge covers administrative costs to link mortgages to land titles. The aim is to prevent homeowners selling up without repaying lenders. The title transfer for a property can’t go ahead if it is still linked to a mortgage. This means the seller needs to own it outright, or have had the mortgage discharged (and, of course, paid the Government’s mortgage discharge fee).Conveyancing and legal feesConveyancing is the process of preparing all legal documents involved in the purchase of a property. Conveyancing can be done by a conveyancer, solicitor or even the buyer or seller themselves if they’re looking to save money. They dot the i’s and cross the t’s to ensure the exchange of money and titles runs smoothly. The solicitor or conveyancer represents your interests, and their duties include conducting land title searches and checking details on the contract of sale to organising when payments need to be made to settle the sale.Loan application and establishment feesThis one-off fee covers the cost of processing documents to set up a new mortgage. It may include a valuation fee for the property. Lenders will sometimes waive establishment fees.Lenders mortgage insuranceLMI is generally applied when borrowers have less than a 20 per cent deposit. This insurance protects lenders, not borrowers, even though borrowers pay the premiums. In the event a mortgage holder defaults on a loan and the property is sold, if the sale price doesn’t cover the outstanding loan, LMI pays out the balance to lenders. Borrowers, however, may not be off the hook, as insurers can pursue them for the cash.Single parents, first home buyers and regional buyers can by-pass LMI through the Federal Government’s Home Guarantee Scheme, but places are limited. Under the scheme – set to expand to 50,000 positions in 2022/23 – the Government acts as guarantor for borrowers with as little as five per cent deposit or, in the case of single parents, two per cent. Applications can be made through mortgage brokers, so get in touch to find out more.Council ratesYou will need to pay council rates pro-rata to cover the quarter in which you bought the home. There will also be fees for connecting utilities.Hidden costs of home buying, using WA as an example:House price (based on Perth’s median house price in March 2022)$614,300Transfer duty (formerly known as stamp duty in WA*)$23,194Conveyancing and legal fees$1,500Building an pest inspection$600Mortgage registration fee$181Transfer fee$311Lenders mortgage insurance** (with 10 per cent deposit)$15,000Loan application fee$500Council rates$500Total extras$41,786*Transfer Duty exemptions: First-home-owner exemptions are available in WA on properties less than $430,000. A concessional rate of about 20 per cent ($19.19/$100) applies from $430,000- $530,000 and above that, normal residential rates apply. A 50 per cent discount (capped at $50,000) is also available for off-the-plan properties purchased before 24 October 2024.**LMI generally only applies to loans where borrowers have less than a 20 per cent deposit.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Perfect your flip Renovating for profit can be a tricky business in a cooling market. But it’s more a science than an art if you know the pitfalls. Here are six common mistakes to avoid.1. Not having a planThis obvious but common error is responsible for a host of renovating sins, from paying too much in the first place to under-estimating costs, over-capitalising and ignoring target markets.Renovating for profit means most of your research should be done before you even put in an offer to buy a property. Understanding the ceiling price for fully renovated homes in your chosen suburb will give you a budget to buy and renovate. And understanding the suburb demographics will inform renovation priorities.While markets have been running hot, renovators can rarely rely on rising markets to dig them out of a hole.As a rule of thumb, experts recommend spending no more than 10 per cent of your property’s current value on a cosmetic renovation. That’s anything that doesn’t involve moving load-bearing walls or extending the roofline. So, updating kitchens with new cabinetry or benchtops, retiling bathrooms, painting, replacing flooring and landscaping.For a structural renovation, owners looking to turn a profit should keep it to 40 per cent of the property’s value.2. Not sweating the small stuffDecision fatigue can set in early, but planning is essential to get the finish you want. Small things can have a big impact on the result, so research and source fixtures and fittings early.Don’t leave it up to builders to choose your cornicing or tilers to choose your grout colour. If you’re unsure of design choices, consult a specialist or look online at the hundreds of renovation advice sites.Top tip: If you go with white interiors, make sure the wall and ceiling paints are the same shade, or one will throw undertones. Ensuring they match gives a seamless finish that makes walls appear taller and the room larger.3. Getting it back to frontLandscaping a backyard is generally not going to deliver a return on investment. Professional renovators always advise focusing time and money on the front of a house, primarily the facade. Street appeal is everything and, as the saying goes, you only get one chance to create a first impression. Rear yards should be neat and tidy but save the wow factor for the front.Apart from street appeal, the other areas of a home that will give you maximum return on investment are kitchens and bathrooms. Spending on renovations should be guided by this.4. Doing all the work yourselfIt can really save money to DIY but know your limits. Sometimes it can be a false economy if a professional can do the job significantly better or faster. Weigh up how much your time is worth, particularly if you are taking time off from a regular job to complete renovation tasks. Also, keep a close eye on your schedule. If doing something yourself is going to delay professionals starting on another task, it may end up costing you more.5. Neutral doesn’t mean boringJust as you can go too bold, it’s also easy to go too bland. Buyers should have an emotional reaction to your property. You want it to be aspirational and on trend. The décor should strike the warm tones of a home, rather than a showroom. From a design perspective, keeping it warm means ensuring wood is part of your palette – particularly in bathrooms.And it’s okay to inject personality as long as you know where to put the flair.If you are confident your styling hits the target buyers’ tastes, it’s okay to make bold choices for non-permanent fixtures – tapware, lighting and window furnishings – but keep an eye on the budget. Statement fixtures can give a house a luxurious contemporary feel, but are simple to change. Steer clear of bold choices on more permanent décor, like cabinetry and carpets.6. Wasting spaceBefore you consider extending a property, ensure the existing space is working as hard as it can. Try to work with what you have. Removing non-loadbearing walls or replacing windows with doors can open up cramped spaces. Look for space-saving design tricks, such as stealing cupboard space from an adjoining room. Converting an internal garage and adding a carport is also a cost-effective way to add internal space.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Pitfalls and hidden gems Navigating the dos and don’ts of investment property returns.Rental properties and holiday homes are once again in the sights of the Australian Tax Office, which has had growing success identifying erroneous claims.Last year about 70 per cent of returns related to investment properties audited by the ATO had to be amended, most often because of incorrect expenses or earnings claims.Regulators have ramped up digital data matching from online platforms such as Airbnb to keep a closer eye on the booming sector. But be careful not to short-change yourself either. There are some claim areas investors regularly overlook too.So, as we run down to the end of the financial year, it’s a good time to brush up on the dos and don’ts of claiming for a rental property.Money in vs money outProperty investors can claim costs associated with leasing and maintaining an investment property. This includes borrowing expenses and interest, but not principal on loans.However, investors must also declare all income earned renting the property out, and expenses can only be claimed for the period it was leased or genuinely available for rent. If you earned more than you spent in any given financial year, your property is positively geared. If you earned less, it is negatively geared, and your losses can be offset against other income streams.What can you claim and when?Most ongoing expenses can be claimed in the year they’re incurred including:Mortgage interest.Council rates and water charges.Cleaning, gardening and pest control.Insurance.Body corporate fees.Advertising and property agent charges (including photography for rental listings).Banking and bookkeeping fees for accounts used for rent and upkeep payments.Repairs and maintenance including appliances to keep the property in a tenantable condition, such as replacing a damaged fence.Security costs (new keys cut).Depreciating assets under $300.Some major, or one-off, expenses can only be claimed over several years and they include:Depreciation on construction costs (if a home is post-1985), or depreciation on more recent major structural improvements.A specialist quantity surveyor can help with this.Borrowing costs of more than $100 (such as loan establishment fees, lenders mortgage insurance, search fees, solicitor and mortgage broker fees).Depreciating assets over $300 such as new (but not second-hand) fridges, washing machines, dryers and carpeting.Initial repairs. If you bought a property that had defects or damage, addressing this is classed as capital work and must be deducted over several years. This is unlike repairs due to wear and tear of ongoing rental that can be claimed in the year the expense is incurred.What you can’t claimA lot of investors get caught out not separating private versus rental use in claims for holiday homes. You cannot claim expenses for the time a rental property is used privately. If a holiday home is used privately for six weeks each year, then expenses such as rates can only be claimed proportionally for the 46 weeks the house is available to rent.Common mistakesNot declaring all income: The ATO has expanded the data it receives from online rental platforms, along with rental bond authorities and insurers. Investors must declare all income earned, which includes things such as letting and booking fees, bonds and deposits that are kept, insurance payouts and any contributions from tenants.Not splitting claims on jointly owned properties: People who jointly own an investment property must split the deductions evenly against both parties’ incomes.Property not genuinely available for rent: Expenses associated with running a rental property are not deductable if the property owner doesn’t genuinely intend to earn an income from it. Red flags may go up if you have a negatively geared property that has multiple restrictions on availability such as:It is reserved for private use during holiday periods and is unlikely to rent outside of these times.References are required for shorts stays and the property doesn’t allow children.It is not widely advertised.Rental rates are considerably higher than market value.Muddling repairs and renovations: Repairs are works considered strictly necessary to keep your home in a tenantable state, for example if a shower screen breaks or carpet is flooded. Renovations to update a kitchen or bathroom are not repairs but capital works and therefore not immediately claimable as an expense, although you may claim depreciation over several years.Top tipsPre-pay to claim ahead: Property investors can pre-pay expenses up to 12 months in advance to claim an immediate deduction in the current tax year. For example, payment of an insurance premium paid on January 1 that provides cover for the calendar year can be claimed entirely in the financial year ending in June. Owners can generally claim immediate deductions for prepaying:Expenses of less than $1,000.Expenses of $1,000 or more where the service period is 12 months or less.Look for depreciation potential on previous owners’ construction and renovations. Buyers may be able to continue to depreciate capital works on homes built after 1985, or major structural renovations completed by a previous owner. Also, if a previous owner has installed new appliances expressly to sell a property and they have not been used, you may be able to claim depreciation on these. A quantity surveyor and tax specialist can provide more detailed advice.The range of deductions available will no doubt factor into choosing an investment property. If you’re considering entering the market contact me any time to consider your options.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Winter 2022 Waste not, want notAustralians churn out 540kg of household waste per person, each year. That’s a whopping 10kg for every single person – every single week.More than ever, it’s time to cut our waste. With a little planning and creativity, the environment and your wallet will be grateful.Buying less means wasting less. Clothing, household items, general stuff – ask yourself whether you really need it.It takes up to 30 years for a disposable coffee cup to degrade, and most aren’t recyclable due to the plastic membrane lining them. Use a reusable cup for your daily coffee fix.Many cafes offer a discount for bringing your own cup.Learn to love leftovers – if you can’t stomach eating the same casserole three nights in a row, freeze portions of it and eat it down the track.Purchase wisely by choosing items that use less packaging – sending a strong message to the suppliers at the same time. When buying fruit and veg, either put them directly into your trolley – rather than plastic bags – or invest in a set of cloth produce bags.Buy second hand rather than new. Join the freecycle.org group in your area or hook into a local Buy Nothing Facebook site.Ditch the disposable wipes and use cleaning rags to wipe up messes, then stick them in the wash.The Stranger – NetflixBingers beware! It is impossible not to get sucked into The Stranger, an eight-episode British mystery thriller series with twists, turns and subplots galore.Based on the 2015 Harlan Coben novel, the series starts with a female stranger approaching family man Adam Price with a shocking allegation about his wife Corrine, rattling his seemingly perfect life. After confronting Corrine about the allegation, she disappears, and Adam starts his desperate pursuit for answers.The stranger who approached Adam holds secrets to many interconnected people. After dropping her bombshells, the repercussions are felt more widely and have a ripple effect with devastating consequences on multiple innocent families.Bravo for applesCrunchy and delicious – the dark burgundy Bravo apple is a real gem.The crisp and tasty apples were bred in Western Australia and are now grown across Australia.Sweet and juicy, they’ve been ranked Australia’s best tasting apple, and they’re loaded with flavonoids which are good for heart health.Bravo apples also stay fresher for longer. Tests have shown that a Bravo apple could still have its creamy white flesh seven days after being cut. Bravos are perfect cut up for a lunch box, as part of a fruit platter or salad, or for fussy kids who take just a few bites at a time.Bravo apples are being picked in many parts of Australia now. You’ll find them wherever good quality fruit is sold. Give them a go!Bravo facts:Distinctive, dark burgundy skin.Great crunch and texture.Sweet juiciness.Vibrant white flesh, with slowness to brown.Long-life storage and freshness.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Win Winter 2022  Fashionista FidoWith winter upon us, pets of Australia are donning jumpers and jackets to protect against the chill. Haven Win is on the hunt for the most funky, fashionable or funny pet outfit – extra points if it’s homemade.How: send us a photo of your furry friend dressed in their winter best. Let us know their name, whether the attire is homemade and any backstory we might enjoy. Send to havencompetitions@afgonline.com.au or by completing this form.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on May 20 and closes on July 18.Winner: will be decided on July 19 and notified by telephone after this time.Terms and conditions: visit http://bit.ly/HavenWin. Congratulations to Sacha for winning the ‘Funny things kids say’ competition from the autumn edition of Haven. Kids sure do say the darndest things, and the flood of brilliant entries we received proved this. But Sacha’s answer was the one that made us giggle the most and means $1000 is on its way for her winning entry. Thanks to everyone who took the time to send in your stories.Sacha’s winning story:My husband works in the mines and when he’s away the kids get anxious so sleep with me at nighttime. On one of hubby’s away trips I persevered to keep them in their own beds and they did! When we went to pick up my husband from the airport, they both went racing up to him yelling at the top of their voices “Guess what Dad? No one slept with Mum while you were gone this time,” over and over again. The looks I got from other travellers was something I’ll never forget. I’ve never been so embarrassed for something I’d not done before!Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### As expected, RBA cash rate once again increased for July The Reserve Bank of Australia (RBA) today decided to increase the official cash rate, by 0.50% to 1.35%. With the RBA continuing to try and head off inflation before it takes too strong a hold on our economy, the decision was made to raise the rate.Lenders can set interest rates independently of RBA movements and their responses to this official cash rate hike may vary.I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.It never hurts to ask the question, so get in touch to review your options.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for July 2022 Congrats to our July Winner – Nicole wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Nicole, and she’s won a $500 Bunnings voucher. Congratulations Nicole.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA rises August cash rate to rein back inflation The Reserve Bank of Australia (RBA) today decided to increase the official cash rate by 0.50% to 1.85%.The increase follows a slightly better than expected annual inflation figure of 6.1 per cent in the June quarter and falling house prices in some eastern state cities.Balancing out these factors is an unemployment rate of 3.5%, the lowest rate in almost 50 years.The RBA faces a challenging period as it weighs up trying to rein in inflation against the spiraling cost of living.Lenders can set interest rates independently of RBA movements, and their responses to this official cash rate hike may vary.I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business.It never hurts to ask the question, so get in touch to review your options. Find out what recent interest rate rises may mean for youDownload the guideAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for August 2022 Congrats to our August Winner – Magie wins a $500 Coles Myer voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Magie, and she’s won a $500 Coles Myer voucher. Congratulations Magie.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Chill out zones Great outdoor areas can add tens of thousands to the value of your home, not to mention the added enjoyment of spending time in the garden with family and friends.Landscaping is also one of the few home improvements that can actually increase in value over time as plantings mature.So, shake off the winter chill by tackling a project that will make your yard a go-to space for spring.Fire upFire pits create a cosy spot to socialise outdoors in cooler months, bringing a camping vibe to the inner city. But you will need to check your local council regulations carefully.Sales of portable pits have surged in the past two years as people spend more time at home and authorities loosen restrictions.When planning a fire pit area, ensure it meets regulations in terms of how close it is to any structures, and consider how smoke may affect neighbours. Screening plants can help with this. Concrete, pavers or gravel are great for creating a level, non-flammable base.Think about how you can build in seating and add plants with an eye to how the area could also be used in summer. Outdoor mirrors on any adjacent walls or fences can bounce light at night and make the space appear bigger during the day.Create a secluded havenPaving a small patio is an achievable DIY task for almost any homeowner. Choose a sunny spot where you can imagine enjoying a morning coffee and make yourself a little oasis. It doesn’t need to be huge, just enough space for a couple of chairs and a side table. Use screening plants to create the sense of a hidden sanctuary. Choosing an area that gets plenty of sun will also lend itself to some colourful spring plantings.Veg outStarting a backyard vegetable patch began as a lockdown hobby but has turned into a smart budgeting option recently. The maths is simple: one iceberg lettuce for $12.99; or 150 iceberg lettuce seeds for $1.99.Okay, so you may have to wait a few months before your harvest is ready, but there’s no time like the present to get a productive garden going.If your soil is not ideal, raised garden beds are simple to build, or cheap to buy, and can fit in the smallest of spaces, even alongside a driveway.Now is a good time to get salad greens, potatoes, carrots, broccoli and cabbages in the ground. Another popular addition is citrus trees.Go luxe on seatingMost of us like the idea of lounging around on the veranda or patio, but we don’t actually do it that often. Why? Because the sofa inside is a whole lot more comfortable than the one outside.Durability doesn’t have to come at the expense of comfort anymore. Some modern outdoor sofas are hard to tell apart from indoor sectionals. Think of your patio as an extra room, but without the building costs. Instead, tip that money in to furnishing it well and it will pay off in the sense of space and the time you spend there.Banish the gloomAdding some lighting bling to your garden doesn’t need to be expensive or difficult. Solar lights have come a long way in terms of power and style, with everything from flickering tiki torches to 200-lumen spotlights ready to go from box to garden. Waterproof LED string lights are the perfect way to add a touch of contemporary magic to verandas and patios without the need for an electrical connection. Solar spotlights are an easy way to accent trees or statues. Driveway and path lights are functional and will add some quick street appeal in the evening.Climb the wallsThe green wall is a trend that’s here to stay. DIY pocket systems can be easily installed in a weekend, but the choice of plants is everything. Look online for guides that will help you select a mix of plants based on what sort of overall look you’re going for and whether the foliage will grow out, up or hang down. Throwing in a few herbs makes your wall useful as well as attractive.GREEN SCREENNeed inspiration for a project? There are a range of DIY landscaping apps that can help you perfect a digital plan.PlanterOne for the vegie patch enthusiasts, Planter allows users to map out gardens taking companion and combative plantings into account. The app includes information about how, when and where to plant and how to maintain and harvest.Plan-A-GardenAvailable through the US Better Homes & Gardens site, this tool also allows DIY homeowners to upload photos and play around with different plantings and textures such as decking vs pavers.My Garden by GardenaA pretty simple 2D planning tool from the German hose company – so expect more than a few tools for including irrigation lines. But if you have a uniform block to fill, it can help nut out a layout.iScapeCreate your own before and after shots without turning a sod. iScape allows users to photograph their outdoor space, then transform it on screen, adding plants and design features. As the name indicates, this highly-rated visualisation app is only compatible with Apple devices. It’s designed to be simple to use and is aimed at homeowners, with a higher-spec version for professionals.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Beating end-of-term blues Millions of Australians on low fixed-rate loans will be bracing for impact when they expire in the next year.It’s time to get prepared to manage the bill shock of coming off a fixed rate.Don’t panic but start planningUntil recently, many Australian mortgage holders have only ever experienced interest rates heading in one direction: down. No wonder it was a culture shock when the Reserve Bank began ratcheting up the cash rates for the first time in more than a decade this year.And it looks like the only way is up. Economists predict the official cash rate will have jumped about 1.75 per cent by the end of the year.Buyers who locked in fixed rates when they hit rock bottom in mid-2021 are sitting pretty, for now. But when their fixed-terms expire, they’ll face an overnight leap, rather than a gradual increase. Interest rates locked in for two years at 2.2 per cent in 2021 could revert to above 5 per cent in 2023. It can be a rude awakening.But there’s no need to panic. If you’ve fixed wisely, you’ve already made savings. Look at an approaching expiry date not as a cliff but as an opportunity to track down the next great deal.It’s never too early to start weighing up options. This is where a long-term relationship with a broker can pay off to run the numbers, stay across the market and talk through scenarios.Refinance, re-fix or split?When the term of a fixed-rate loan ends, borrowers move on to what’s known as a ‘revert rate’ of interest.The bad news is that this variable rate is often higher than others offered by the same lender. The good news is you don’t have to stick with it.Because the fixed-term has ended, borrowers are free to shop around without incurring a penalty. The options are wide open: a lower variable rate with the same lender or a competitor; another fixed rate, or a split loan with part fixed and part variable. These days loans can even be structured as split fixed loans, with part fixed for two years, and the remainder for five, for example.Overseas, where inflation has hit much harder, some borrowers are jumping early and paying exit fees to end fixed-term loans so they can lock in new fixed mortgages. In the UK, Yorkshire Building Society has reported a spike of more than 88 per cent in the number of consumers paying these break fees to refinance.This can stack up if borrowers expect rates to rise significantly in coming years.As of July, average variable rates were around 3.85 per cent while two-year fixed rates were closer to 4.8 per cent, according to financial comparison site Mozo.Australia has also seen a rush to refinance according to ABS data released in July, which shows a 20 per cent jump in owner-occupiers negotiating mortgages.Practice makes perfectBorrowers concerned about reverting to a higher rate of interest can run a stress test on their budgets by calculating approximately what repayments will jump to when the fixed-term ends, then start paying it.Be aware, fixed-term loans have repayment ceilings you can’t exceed without incurring penalties, so check this carefully. If you are unable to pay extra into your loan, put additional payments into a savings account that can be used to pay down the loan principal when you revert to a variable rate.Going with more flexibilityWith interest rates rising, borrowers may want to go with a variable rate to access more flexible options to pay down principal.Pay fortnightly: It’s a classic tip, but one not many put into practise. Switching to this payment method can help absorb increased repayments. Making two fortnightly payments instead of one monthly payment has a small impact on your day-to-day budgeting, but a big impact over years. If you pay in two fortnights what you would normally pay each month, you will end up knocking off an extra month of repayments each year. Over the lifetime of an average 30-year loan, this can stack up to more than $100,000 in interest savings.Use an offset account: An offset account is a transaction account linked to a variable rate home loan. Interest is calculated only on the loan balance minus the balance of the offset account. Keeping cash in this account helps keep interest payments down without locking your money away.Beware the mortgage prisonSome borrowers may find their refinancing options restricted by tighter lending requirements and falling equity, as housing markets come off the boil.From November last year, banking regulator Australian Prudential Regulation Authority (APRA) has required banks to use a 3 per cent buffer to assess whether borrowers can service loans. Previously this was 2.5 per cent. Those who borrowed under the previous regulations and have not paid down principal may find it difficult to meet the higher serviceability bar to refinance.Similarly, falling equity in areas where prices have dropped may leave some in a situation where the loan to value ratio goes above 80 per cent and Lender’s Mortgage Insurance is required to refinance. Their only option may be to negotiate with their current lender.Your personal circumstances are unique and approaching a fixed-term expiry is a key time to get in touch so we can reassess. It’s a rapidly changing environment and I’m happy to meet to discuss the most up-to-date options so you can plan ahead to make the best decision.Fixed FactsThe number of Aussies locking in fixed loans soared in 2021, according to the Australian Bureau of Statistics. It peaked in July with 46 per cent of new home lending on fixed terms. That compares to a longer-term trend closer to 20 per cent. Many of these loans were on very low two-year terms set to expire in mid to late 2023.Fixed lending fell dramatically this year, as rates rose above 4 per cent. In May 2022 only about 12 per cent of new housing finance was fixed.Lender portion fixed:CBA38%Westpac40%NAB37.4%ANZ35%Source Rate CityAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### First home buyer profile Caitlin and JoelLoan amount:$670,000.Monthly repayments:$2700.Grants accessed:First homeowner $15,000 and 2020 HomeBuilder $25,000.Deposit:15 per cent plus 5 per cent guarantor finance to reach the 20 per cent threshold required to avoid paying Lender’s Mortgage Insurance (LMI).While 2020 was the year many things in the world fell apart, it was the year everything came together for house hunters Caitlin and Joel, both 33.“We had always talked about buying a house,” Caitlin says. “Then 2020 happened. Our jobs were secure because we were both working in schools. And when all the Government grants started coming out we thought, ‘Okay, maybe we can do this’.”In June this year, they got the keys to their first, and hopefully forever, home – a four-bedroom, two-bathroom new build – completing a two-year journey.“It’s lovely being in our own house because it’s ours. We can do what we want, and I don’t have to worry about inspections. I’ve got a lovely, beautiful, big kitchen. Before we’d only ever had teensy-tiny kitchens,” Caitlin says.And watching what has happened in the rental market makes her extraordinarily grateful she and husband Joel made big leaps at the right time to secure a home.Understand your needsCaitlin says the fact she and Joel had lived in many different rental homes and had two children helped inform their choices.“We knew what we wanted and what we didn’t want. We picked the land and the house based on where we wanted to grow our family. It’s close to work and we loved this community,” she says.With an outer metropolitan location as the starting point, the couple approached a builder and chose a house design before they applied for a loan or found a block of land.Fortunately, it worked for them because their builder jumped on board to help them secure land in a competitive market. After hearing about an upcoming land release in their dream location, they bought off-the-plan to nab a prime 707sqm corner block next to bushland. Then the clock was ticking to line up finance.It’s personalThe whole thing almost went pear-shaped at the start, when the couple approached a local broker who, although well-regarded, seemed to find more problems than solutions.“It was issue after issue and we thought we were going to lose the block of land,” Caitlin says.After a personal recommendation from Caitlin’s brother, they turned to a broker who was based 1700km away and immediately found the help they needed. It led to two of Caitlin’s greatest learnings:Personal recommendations trump online reviews.Everything that matters can be done over the phone or online.“Something I didn’t realise at the start was that I thought you probably had to meet face-to-face. But I think it actually ended up making it a lot easier that we could do it online. They were happy for us to ring them at any time or email at any time, and that made it easy. We even did our legal stuff digitally,” Caitlin says. To this day, Caitlin has never met her broker or his staff in person, but was grateful for their support throughout.“Having a broker meant we didn’t have to do the running around. We both work full time. We’ve got two young kids. We’re time poor. And having a broker made it a lot easier. We could just say, ‘this is what we want’ and they would help with that,” she says.The loanAfter taking advice from family and their broker, Caitlin and her husband decided to split their loan, with the majority variable and a smaller amount fixed. The flexibility to make additional repayments and have an offset account were the deciding factors.“We also made sure we didn’t borrow to our maximum, knowing interest rates could rise, and they have,” Caitlin says.While the couple had a sizeable deposit saved, it didn’t quite meet the 20 per cent threshold required to avoid paying Lender’s Mortgage Insurance so Caitlin’s parents guaranteed the difference, saving them thousands. And with the meteoric rise in property values since they purchased in 2021, Caitlin says her broker expects to have the house revalued and her parents released from their guarantor obligations within months.“We’ve honestly been really lucky with the whole process. The market has changed a lot in two years, but I think it will continue to change as well,” she says.Tips: Caitlin’s advice for those thinking of buying or building:Join online forums: “There’s some Facebook groups for first home buyers. I’ve learned lots on that.”It’s a team effort: “We had a great broker. We ended up with a fantastic builder. We had good people in our corner who felt like they had our interest at heart and wanted us to be successful.”Put your name down early for land allocations: “Land goes pretty quick and that’s something we didn’t know to start with. So, put your name down on (developers’) lists early.” But also, be patient: “We could have bought a different block of land early on, but I’m thankful we didn’t because what we ended up with was so much better.”Home helpFEDERAL: Under the new Government, several schemes will operate to help buyers onto the property ladder.1. Help to buy (new)Open to 10,000 Australians each year who do not own a home and are earning less than $90,000 a year for singles and $120,000 for couples.Under the scheme, the Government will pay up to 40 per cent of the purchase price of new homes and 30 per cent for established homes, holding this stake.Owners can buy back Government equity during the life of the loan, but any remaining when the property is sold must be returned with proportionate capital gains.Participants must have a 2 per cent deposit and be able to service the loan and pay stamp duty and other establishment fees. They will not need to pay Lender’s Mortgage Insurance (LMI).2. First Home GuaranteeFrom July, this expanded to 35,000 annual places for eligible first-time buyers who do not have a 20 per cent deposit. They must have at least 5 per cent, with the Government guaranteeing the remainder up to 20 per cent to avoid the need to pay LMI. An additional 5,000 places are available for single parents with as little as 2 per cent deposit.3. Regional First Home Buyer Support Scheme (new)Acknowledging rapid price growth outside capital cities, this Labor election promise is a regionally focused expansion of the First Home Guarantee and will be open to 10,000 buyers each year.STATE: Incentives of up to $30,000 are also available to first home buyers depending on location and whether it is a new or existing property. To find out what State-based grants apply to your circumstances, contact me for a detailed breakdown.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Spring 2022 From rags to richesIn 2013, a man browsing in a Sydney op shop purchased an unusual cup for $4.Its uniqueness caused him to research its origins. He sent a picture to Sotheby’s, who confirmed that it was indeed both rare and valuable. The buyer had unknowingly purchased a 17th century Chinese ‘libation cup’ carved from the horn of a rhinoceros. He went on to sell it at auction for more than $75,000.But this story pales when compared to a lucky American who in 2007 purchased a small bowl for US$3 at a garage sale in New York state, which they went on to sell for US$2.225 million at a Sotheby’s auction. Little did the purchaser know that the bowl that they had kept on their mantelpiece, with no idea of its worth, was in fact a 1,000-year-old treasure. The Ding ware bowl was an example of Northern Song Dynasty pottery and described by Sotheby’s as remarkable and exceptionally beautiful. The only other known bowl of the same size, form and similar decoration has been in the collection of the British Museum in London for more than 60 years. Oh that old thingWhat is the oldest thing you’ve got at your house? Perhaps it’s a vintage motorbike or a toy that belonged to your grandad. Something handed down or discovered in an antique shop. Send us a photo of the item, and regale us with its backstory: how old it is, where did it come from and why do you have it. The item and story that best piques our interest will win $1,000.How: send us a photo of the oldest item at your home, including its backstory.Send to: havencompetitions@afgonline.com.auInclude: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on August 12 and closes on October 13.Winner: will be decided on October 14 and notified by telephone after this time.Terms and conditions: visit http://bit.ly/HavenWin     Oh my dog! We had a record number of entries to our latest Fashionista Fido Haven competition.This overwhelming response is hardly surprising when you learn that there are 29 million pets in Australia – easily outnumbering the human population. With so many purrfect entries the job of choosing a winner was ruff – but it was also very fun to view hundreds of adorable photos of your furry and feathered friends. Thank you to everyone that took the time to enter and congratulations to Steve for winning with his snap and tail of Lily and Ziggy, resplendent in their outfits and display of sibling love. For what is cuter than one dressed up doggie? Two of course!From Steve:“Lily (left) is big sister to Ziggy (right). She adores her little brother. Lily doesn’t like the cold though, so in winter she loves wearing something warm and soaking up the sun. Ziggy on the other hand prefers the natural look and uses Lily as his personal heater. His favourite sleeping position is resting his head on top of Lily’s butt. She doesn’t seem to mind, even though he’s now grown a lot bigger than her and yet he still comes to his big sister for comfort and warmth.”Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### As expected, RBA cash rate for September increased to 2.35% As widely expected, the Reserve Bank of Australia (RBA) today increased the official cash rate by 0.50% to 2.35%.This brings the total of increases made since May to 2.25% as the RBA continues to battle a very stubborn inflation foe. In making this latest increase our central bank will have had a close eye on the spiraling cost of living and falling house prices, however has made its intentions to prioritise controlling inflation very clear.Lenders can set interest rates independently of RBA movements, and their responses to this official cash rate hike may vary. I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business. It never hurts to ask the question, so get in touch to review your options. Find out what recent interest rate rises may mean for youDownload the guideAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for September 2022 Congrats to our September Winner – Dylan wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Dylan, and he’s won a $500 Bunnings voucher. Congratulations Dylan.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate for October raised to 2.60% The Reserve Bank of Australia (RBA) today decided to increase the official cash rate, by 0.25% to 2.60%.In considering the size of the increase, the RBA board appears to be continuing to focus on reducing inflation against the backdrop of falling house prices in many areas of Australia, a weakening Australian dollar and concerns of a global recession.If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch. Find out what recent interest rate rises may mean for youDownload the guideAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for October 2022 Congrats to our October Winner – Carlene wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Carlene, and she’s won a $500 Bunnings voucher. Congratulations Carlene.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate for November raised to 2.85% The Reserve Bank of Australia (RBA) today decided to increase the official cash rate for the seventh consecutive month, this time by 0.25% to 2.85%.Today’s increase follows higher than anticipated September quarter Consumer Price Index (CPI) figures as the RBA continues to battle inflation.If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch. Find out what recent interest rate rises may mean for youDownload the guideAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for November 2022 Congrats to our November Winner – Megan wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Megan, and she’s won a $500 Bunnings voucher. Congratulations Megan.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### The RBA is dreaming of a tight Christmas Haven’s tips to keep the Grinch at bay as interest rates rocket.The message is loud and clear. The Reserve Bank of Australia wants households to tighten their belts to keep a lid on inflation. And to do it they’re making sure we all have less to spend after paying the mortgage.Rates have jumped from a record low 0.1 per cent in April to 2.85 per cent in November. To put things in perspective, we’ve had more rate rises in the past six months than we’d had in the previous nine years.And the last time Aussies weathered a rate rise this steep was close to three decades ago, in 1994, when rates jumped 2.75 per cent between June and December to reach 7.5 per cent.But back then, the average house price in Australian capital cities was well under $200,000.Now it’s north of $1 million, leaving households much more vulnerable to interest rate fluctuations.The jump in repayments is already biting, but the RBA is warning of more pain to come. It’s particularly confronting for many homeowners who have only ever seen rate cuts. But there’s no need to panic. There are strategies to claw back a buffer and stay on top of repayments.Don’t blow itIt’s awkward timing in the rundown to Christmas, but for a host of reasons households need to rein in discretionary spending. Any large purchases that can be postponed, should be.Banks will look very closely at non-essential spending when assessing loans and refinancing applications, so it will be useful to have a track record of responsible spending, even if you think you can afford to keep spending.Late last year lenders switched to a serviceability buffer of 3 per cent, up from 2.5 per cent, so you will need to show you have wriggle room in your budget beyond current rates.Turn on to offsetsIf you’re on a variable rate, an offset account will provide better bang for your buck, reducing interest charged on your loan balance, rather than earning a lower interest rate in a savings account. Borrowers should also be across the difference between redraw facilities and offsets. Money in an offset account is always accessible, whereas your bank may have a clause allowing them to change redraw terms without notice. ME Bank highlighted the issue in 2020 when it moved an average of $17,000 from some customers’ redraw accounts to pay down the balance of their home loans. After a furious backlash, the bank reversed the decision.Shop aroundRefinancing is hitting all-time highs, more than doubling pre-pandemic levels as homeowners jump ship for a better deal. And little wonder: rates available in the current market vary widely.In August alone, more than $18 billion worth of home loans was re-financed. But tough serviceability requirements are going to limit options for some, with price falls hitting equity and the all-important loan-to-value ratio of recent borrowers. Those who find themselves in mortgage prison may not have the option of switching to another lender, but that doesn’t mean they can’t ask for a better deal from their current lender.That’s where having a broker in your corner can help. Lenders may be persuaded you are serious about exploring other options if you demonstrate you’re across the market – and we are. Give me a call to look at your options. If you haven’t refinanced in the past five years, you are almost certainly paying too much.Rethink ChristmasCutting back on spending doesn’t mean you have to cut back on fun. If you gather as an extended family, replace individual gift-giving with a Secret Santa ritual where each person only buys one gift to exchange randomly.Keep it fun by playing Yankee Santa or White Elephant, where people get allocated a gift, but can choose to swap or steal one from another attendee before they’re unwrapped. Look up the rules and fun variations online, and get organising.Sweat the small stuffCut back on regular treats that can add up – takeaways, coffee and drinks. But also reassess some of your direct debits or recurring expenses. Have you culled your streaming subscriptions lately? Do you need that gym membership now summer is around the corner?Also, it’s well-known Aussies get stung by loyalty tax if they don’t shop around on insurance or mobile plans. Don’t just let these simply roll over. Set aside a week to go through each one, and look for extras that will save you. Comparison websites make this process easier these days.Remember supermarkets’ mobile plans often include grocery discounts that can pay for themselves, while other carriers may bundle streaming services. This process can easily save you hundreds each year.Pay it forwardThere are several ways to build a buffer into your home loan. Switching from monthly to fortnightly payments is a simple and painless way to build two extra repayments a year into your schedule. Over the course of a 30-year loan, this can shave more than $100,000 off an $800,000 loan and pay it off years earlier.If you’re nervous about coming rises, take the initiative and raise repayments yourself. It’ll give you a buffer and a head start on adjusting to a new budget.Stay in touchThe broker-client relationship is not a one-off: we’re in for the long haul. This is a key time to catch up, particularly if you’re concerned about repayments. There’s an old saying that good news is getting bad news fast, so you can give yourself time to plan and react.There are lots of options to consider, including refinancing and perhaps splitting your loan between fixed and variable terms. I can help assess your financial situation, look at your goals to help find a package to suit, then advocate for you with lenders. Let’s get on the front foot.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Running a business from home? Who knew selling eggs at the garden gate could void your home insurance?Apparently not many people, including the Victorian homeowners who have found themselves at the centre of an insurance nightmare that should prompt everyone with a side hustle to check their coverage.It seems having an Australian Business Number (ABN) registered to your home address may render your home and contents insurance invalid if you have not declared the business to your insurer. And that applies even if the business is unrelated to any cause of property damage or loss.Victorian homeowners Justin Uebergang and Verity Metcalfe found out the hard way when an electrical fault sparked a blaze that burned their home to the ground last year. They were stunned when their claim was rejected because their insurer found there was an ABN registered to their address. The company said the couple had not declared they were operating a business from home when they took out insurance, and they would not have offered them cover had they known of this additional risk.For their part, the couple said they didn’t consider it relevant as no part of the business took place in the house and the fire was not related to the business.The case has been picked up by a no-win, no-fee law firm, and recent reports on the ABC about the dispute have sparked waves of concern, particularly from the many people who have started side gigs during the pandemic.Ducking for coverBefore long, stories emerged of people who had called insurers to check their status only to find policies withdrawn, including a man who operated a mobile bike repair business registered to his house, a couple who parked a food truck in their yard but did not cook any food on the premises, and a pensioner selling eggs from home.With inflation spiking, the number of Aussies trying to make a bit of money on the side is only going to increase. In the past financial year, more than 165,000 new businesses were registered in Australia, according to the Australian Bureau of Statistics, with the overwhelming majority – 84 per cent – non-employing businesses, often people monetising a hobby.And what about the millions of Australians who have been working from home on and off during the past two years? Legal eagles say that WFH is regarded differently to operating your own business. And while some consumers may be scrambling to see the difference – particularly for sole traders working on a laptop – it only matters what your insurance company thinks. So, it’s always best to check.Know the risksConsumer law advisers have said home office-based businesses that take up less than 20 per cent of the home’s floor space, with no clients coming and going, may not be considered as high risk as operations that:Produce goods.Use specific or specialised machinery.Engage in activities that may increase the risk of incidents such as property damage, fire, theft etc.Are visited by customers.The Insurance Council of Australia has underlined the importance of declaring any business or commercial activity no matter the size or type, as each insurer assesses risk differently.Another issue is garden-variety ignorance. People may have taken out home insurance years before starting a microbusiness, and have forgotten the terms. To address this, some insurers have begun proactively flagging the issue in home and contents renewal documents.It’s also worth remembering that people operating a business from home may also need additional small business insurance protection including public liability, product liability and professional indemnity insurance.In the meantime, as the case makes its way through the legal system, former Wallaby and new independent senator David Pocock has taken up the issue, writing to Financial Services Minister Stephen Jones to ask for the issue to be examined. Stay tuned.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Hackers target property sales Don’t let them do a dash with your cash.As if Aussie home buyers didn’t have enough to contend with, now the soaring price of real estate has drawn the attention of international cyber criminals who have stolen deposit and sales payments totalling millions.Hackers are targeting loose security around the transfer of cash for property settlements, intercepting emails and changing bank account details.In one incident detailed by WA’s ScamNet, a 102-year-old Perth woman lost $375,000 intended to pay for aged care accommodation. Criminals hacked an email exchange between the woman’s granddaughter and an aged care facility, sending a bogus notification that account details had changed.The relatively high price of Aussie property – along with the recent buying frenzy – has made the industry a lucrative focus for African and Russian crime syndicates. And the Australian Cyber Security Agency has warned it isn’t just buyers being targeted, but all parties involved in sales, particularly conveyancing lawyers because of their key role.There have been about 10 property-related payment redirection scams reported every month this year, according to the Australian Competition and Consumer Commission’s Scamwatch, with more than $2.7 million in payments vanishing overseas since January.The ACCC has called for banks to introduce a confirmation of payee system that verifies account names and account numbers match – a simple step that could stop many scammers in their tracks. The UK recently introduced this check, perhaps another reason criminals have turned their sights on Australia.In the meantime, there are things buyers can do to prevent falling victim:When responding to emails, use the forward button instead of reply, and manually type or select the address from your address book. Scammers often impersonate others by changing an email address by one letter, or leaving off the .au. Using forward instead of reply will help ensure you’re communicating with the right person.Always phone to verify account details before making payments.Use an email service that includes quality filtering to block dangerous emails, spam, phishing and malicious content or attachments.If an attachment comes in an unusual format such as .zip or the email asks you to follow a link to a file hosting site, this should be a red flag. Also, be wary of emails that aim to create a sense of urgency about payment. Don’t rush, and check addresses carefully.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Green your home to protect your planet As awareness about our changing climate grows, so too does the desire to take positive action.And while the big corporates are in the spotlight, individuals also need to consider their daily activities and find ways to minimise their own emissions.Everything we do has an impact – from how we get to work, the type of car we drive, how we heat or cool our homes, the types of meals we put on the table, and of course our holiday destination choices.And it all adds up. The average Australian household (2.6 people) emits 15-20 tonnes of greenhouse gasses (GHGs) annually, collectively adding up to about a fifth of the nation’s emissions.The United Nations warns that if carbon emissions in wealthy countries like Australia aren’t cut to two tonnes of carbon dioxide equivalent per person per year by 2030, it will not be possible to achieve the Paris Agreement’s long-term goal of limiting global warming to 1.5C above pre-industrial levels.That means the average 2.6 person family should be aiming for 5.2 tonnes a year – about a quarter to a third of current volumes.The message from Perth-based environmental charity Carbon Positive Australia is that we all need to reduce, reflect and restore to protect our planet. That means cutting our emissions and finding ways to offset the remainder.Fortunately, there is plenty that can be done around the home and through our daily activities to slash emissions and play our part in achieving a greener future.Getting startedTo cut emissions, you first have to know the amount of GHGs you’re producing, and where these coming from.A national online carbon calculator, launched by Carbon Positive Australia, can get you started in understanding your own footprint at https://carbonpositiveaustralia.org.au/calculate/.It will take about 5-10 minutes to input key information about your consumption and lifestyle across six categories – travel, energy, water, transport, food and drinks, and waste.You can choose to include any or all of these categories, and if you don’t have exact usage, Australian averages are available.At the end of the calculation, you’ll receive an itemised footprint with tailored insights to help you cut your emissions. As you make changes to your habits you can continue using the calculator to track your progress.Finding the balanceWhile there’s plenty that can be done to reduce your impact, it’s extremely difficult to reduce absolutely all emissions. To account for the unavoidable emissions you produce, you can consider carbon offsetting.Offsetting involves a donation to projects that remove or reduce greenhouse gases from the atmosphere – balancing out those produced.It would be difficult, for example, to give up travel, but it can be done guilt-free if offsetting the emissions. A long-haul flight can generate about five tonnes of carbon dioxide emissions, but these can be offset for about $100, based on current prices.Popular types of offset projects include reforestation and tree planting, renewable energy projects, waste and landfill management and carbon-reducing agricultural practices.It is important to remember though, that offsets should only be used after steps to reduce as many emissions as possible have been taken.Individuals can buy offsets through specialist companies and charities including Carbon Positive Australia and Greenfleet, which focus on tree planting and land restoration projects to sequester carbon and restore natural ecosystems.Funds donated to these offset providers are directed into different regeneration or vegetation projects, so it’s worth checking the individual websites to look at the projects they have underway.There are plenty of ways to offset, including by the tonne. It can cost about $18-$20 per tonne to offset emissions, meaning an average household of 2.6, which reduces its emissions to 5.2 tonnes a year, could offset for a little over $100, tax deductable.There’s also the option of offsetting for more tailored activities, such as individual flights, vehicles or food and drink, or making a flat donation, which can be done through many providers.The more people opt to reduce emissions and offset the remainder, the better chance we have of managing the impact of climate change.Tips for cutting your carbon footprintInvesting in a greener futureConsider installing solar panels to convert sunlight into electricity. If not possible, switch to green power sources where available.Make your home more energy efficient, such as double-glazing windows, and improving insulation.Change to energy-efficient LED bulbs which use up to 80 per cent less electricity.Choose appliances wisely, opting for high energy star ratings.Consider a hybrid or electric vehicle that you can charge with renewable energy.Earth friendly habitsWalk, ride, use public transport or carpool to work.Reduce the emissions from your commute to work if your employer allows and try working from home occasionally.Keep your pantry organised, plan meals and only buy the food you will eat.Try growing your own food with a vegie patch and plant a few fruit trees, even keeping a few chickens for eggs if you have the space.Shop local to cut down food miles. Taking advantage of local produce while in season also cuts food miles.Go plastic-free by refusing use of single-use plastics.Carry a water bottle, filled from the tap, and opt for a reusable coffee cup.Compost food and garden waste yourself.Avoid fast fashion and consider renting, borrowing, or searching op shops for that new look.When no longer needed, donate any good condition items or clothing, rather than sending to landfill.Turn off appliances left on standby and always switch off lights not being used.Take shorter showers.In winter, dress for the weather and layer up, rather than keeping the heating up high.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Haven Extras Summer 2022 Kitties of Disneyland – the kingdom’s keepersDid you know that there is a population of 200-plus feral cats that live in the grounds of Disneyland, who are tasked with helping to control the theme park’s rodent population?They’re neutered and supported with an infrastructure built specifically for them, including hidden feeding stations and veterinary care when required. First introduced in 1955, Disneyland doesn’t publicly talk about these invisible employees, preferring their rodent-eliminating staff members to perform their critical role during the nightshift when the park isn’t teeming with visitors. Best of Book WeekWith our August socials flooded with adorable Book Week costumes, we were reminded of the efforts families across the country put into interpreting their kids literary favourite. Send in a photo of your rugrats homemade Book Week costume and $1,000 could be yours, if we’re delighted by the creativity.How: send your photo to havencompetitions@afgonline.com.au placing Book Week in the subject line, including the book title and any backstory you may have.Include: your name, address, email, phone number and the name of your mortgage broker.Dates: opens on November 11 and closes on January 11.Winner: will be decided by January 12 and notified by telephone.Terms and conditions: visit http://bit.ly/HavenWin Congratulations to Jennifer for winning $1,000 for sharing this amazing, history-filled story about a precious, old thing she has at home.This little wooden box was carved in New Guinea by my grandfather when he served as an armourer during World War II (he also fought in World War I in the trenches in France when he was 17). The lid is Perspex from a downed plane and he painted the little scene on it. My grandfather was a carpenter and this box is beautifully made and lovingly polished.My grandfather made two identical wooden boxes and brought them back with him on furlough in 1943, giving one to my mother (his only child) and one to her close friend, Pat. Pat lived behind Mum’s home and across a small lane. Pat was four years older than Mum. My grandfather built seats against the back fence during the polio epidemic in the late 1930s when children were not allowed to go to school and the two girls would play together – separated by two fences and a lane.Mum gave her little box to my sister when I was 12. However, fortunately for me, Pat generously gifted me her little box, as seen pictured here, five years ago. Pat and my mother’s friendship lasted over 90 years until Pat’s recent death.I look at this little box and it reminds me of my grandfather and his sacrifice – leaving his family, closing his business and going to war again at the age of 42. It reminds me of two little girls playing together – my mother and Pat and the love my grandfather had for them. It also reminds me of my sister because this little box is unique but also one of a pair and she has the matching one.It is 79 years old and very precious. Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate for December raised to 3.10% The Reserve Bank of Australia (RBA) today decided to increase the official cash rate for the eighth consecutive month, this time by 0.25% to 3.10%.Today’s increase follows speculation that rates may be starting to approach their peak with falling house prices in some capital cities, decreasing demand for credit and lower October inflation numbers.If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch. Find out what recent interest rate rises may mean for youDownload the guideAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for December 2022 Congrats to our December Winner – Stephen wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Stephen, and he’s won a $500 Bunnings voucher. Congratulations Stephen.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for January 2023 Congrats to our January Winner – Bill wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Bill, and he’s won a $500 Bunnings voucher. Congratulations Bill.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### RBA cash rate for February increased to 3.35% The Reserve Bank of Australia (RBA) today decided to increase the official cash rate for the ninth consecutive time, this time by 0.25% to 3.35%.Following a higher than expected inflation rate of 7.8% in December, the RBA continues to attempt to rein in inflation with this latest increase.If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch. Find out what recent interest rate rises may mean for youDownload the guideAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for February 2023 Congrats to our February Winner – Jake wins a $500 Bunnings voucher! We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Jake, and he’s won a $500 Bunnings voucher. Congratulations Jake.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### New year, new rules 2023 will ring in changes to stamp duty and home-buyer schemes around the country. Here’s a quick fly-over of shifts at national and State level set to kick in this year NATIONALHelp to BuyThe Albanese Government’s flagship housing policy Help to Buy is expected to launch in July this year.But legislation has yet to be approved by Parliament, so keep an eye out for more information and key dates shortly. (An easy way to stay in the loop is to contact me).Under the proposal, the Government will help 10,000 lower-income Australians buy a home by chipping in up to 40 per cent of the purchase price for new builds, and 30 per cent for existing homes.Buyers can have as little as a 2 per cent deposit and will not have to pay Lenders Mortgage Insurance (LMI), which normally kicks in for deposits of less than 20 per cent.Help to Buy not only reduces upfront costs, but slashes ongoing mortgage payments. Homeowners have the option to buy out the Government’s stake when they can afford to. Alternately, they can repay the loan, including pro-rata gains, when they sell.The program is open to singles earning less than $90,000 and couples earning less than $120,000. The federal program is similar to shared-equity schemes already running in Victoria (Victorian Home Buyer Fund) and Tasmania (MyHome).Regional First Home Buyers GuaranteeThe Federal Government was quick off the mark and delivered early on this promise to support 10,000 regional buyers to get on to the property ladder with a smaller deposit than normal.Originally slated to be introduced from January 1, the Regional First-Home Buyers Guarantee was brought forward and launched on October 1 last year because of extraordinary pressure on regional housing markets. One study estimated it took workers in regional centres more than 11 years to save a deposit.The scheme runs until June 30 and will help 10,000 regional buyers avoid LMI, with the Government guaranteeing up to 15 per cent of the deposit.This program is in addition to funding guarantees for 35,000 eligible first-home buyers nation-wide, and 5,000 exclusively for single parents.The National Housing Finance and Investment Corporation website has a tool to help buyers find out if they’re eligible for any of the support schemes.Building code changesThose planning a home build should be aware of changes to boost the sustainability and accessibility of new homes across the country later this year. Changes to the National Construction Code have been contentious, with NSW, WA and SA opting out of reforms which will be introduced in other States in May and take legal effect from October.In Queensland, the Master Builders Association has claimed new requirements for greater energy efficiency and access (including at least one step-free entry to every home) could add tens of thousands to already rising build costs.NEW SOUTH WALESStamp dutyThere are big changes afoot in NSW this year, but not quite as big as Premier Dominic Perrottet may have wanted.Premier Perrottet had previously signalled he was keen to move from a one-off stamp duty payment to a broad-based annual land tax for most NSW residents. But changes introduced from January this year are optional and only apply to first-home buyers.They do, however, slash upfront costs.From January 16, first-time buyers purchasing a house for less than $1.5million have the option of paying an ongoing annual land tax, rather than the traditional lump sum stamp duty.Avoiding hefty entry fees can help buyers get into homes years earlier. On the flipside, analysts say those who choose to stay put longer than 10–15 years may end up paying more in the long run under an annual tax.The economics vary according to the value of the property and tenure. As always, it’s worth running the numbers with me to see how the options stack up.WESTERN AUSTRALIAKeystart boostJust before Christmas the Government announced it had raised the threshold on homes eligible for State-backed Keystart low-deposit loans, lifting the cap from $480,000 to $560,000.The change came into effect on December 12 and backs a move earlier in the year to permanently lift income thresholds on eligibility to $105,000 a year for singles and $155,000 for families. Thresholds are higher in regional and remote areas.Build-to-rentFrom July this year, WA will slash land tax by 50 per cent on eligible build-to-rent developments to support the industry in providing more affordable rentals.Under the build-to-rent model, developers build apartments with a view to retaining ownership and deriving an income from renting units, rather than on-selling.While this concession is aimed squarely at business, rather than home buyers, it’s hoped the benefit will flow on to consumers by increasing the stock of rentals.QUEENSLANDRental reformMajor changes looming in Queensland this year relate to owners and tenants in the rental market, with ongoing reforms aimed at providing more rights for tenants.Landlords have been put on notice that from September 2023 all new rent arrangements will be subject to Minimum Housing Standards that require premises to be structurally sound, weatherproof, free from pests and mould, with fittings in good repair. From 2024, the standard will apply to all rental properties across the State.TASMANIAStrategy for the futureThe Apple Isle has undergone an unprecedented property boom, with prices more than doubling in some regions in the past five years, and rental stress soaring.Recognising affordable housing as a priority, the Government is set to release a 20-year policy plan – the Tasmanian Housing Strategy – in July.The strategy is expected to contain key announcements around social housing, build-to-rent and further shared equity support for home buyers to enter the market with Government help. The State currently has a First Homeowner Grant of $30,000 for new homes with no price cap.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Eyes spy The lowdown on what people are really looking at when they wander through your home.If you’ve ever spent hours agonising over a light fitting, only to wonder if anyone other than you will notice it, listen up. Here’s just the study for you. Researchers have used eye-tracking technology to monitor where people look when they first see each new room in a house.The study, conducted for insurance site confused.com, recorded not only what objects and fittings people looked at the most, but what held their attention for the longest. And the stars of the show aren’t always what you would expect.The results were ranked room by room and trend by trend to give would-be decorators a few clues about whether to splash out on a boucle chair or a mid-century coffee table.One important thing to bear in mind, of course, is that while trackers can tell us what people look at, they can’t tell us why. There is always a chance people are looking at something that catches their eye for all the wrong reasons. But people generally looked at the same objects in a similar order.KitchenThe kitchen is easily the biggest-ticket room in most homes and usually involves the most design decisions. So, who would have picked that flooring is the feature people spent the most time looking at? It’s a reminder to us all to sweep and mop.Flooring was followed, perhaps more predictably, by cabinetry, which along with benchtops is easily the biggest design decision in this space.At the other end of the scale the things people looked at the least were the cooktop, range hood and any artwork.The kitchen top five were floor, cabinets, sink, countertop, and windows.If you’re sprucing up your home for a sale, bear in mind other studies of buyer behaviour at open homes have found potential purchasers always open cabinet doors and drawers to check sturdiness and storage. They also turn on taps to assess water pressure in kitchens and bathrooms.Living roomThe most expensive items are way down the list, with wall art the most overlooked living room feature.TVs were also near the bottom, although, to be fair, many people don’t want a television to be the focus of a living room. A recent trend towards black feature walls aims to camouflage screens and throw the focus back on furniture.However, splashing out on a special coffee table or feature rug clearly pays off in impact.The living room top five were coffee table, rug, soft furnishing (cushions/sofa), floor, and fireplace.BathroomPerhaps it’s just vanity, but researchers found mirrors were the most eye-catching bathroom feature in this study, followed closely by under-sink drawers and cabinets.It seems the big message here is don’t sweat the small stuff, with participants in the study looking the least at taps, lighting, towel rails and toilet roll holders. Taps clocked only 11 glances, holding the attention of observers for an average of 305 milliseconds, compared to drawers, which clocked 162 looks and held the gaze for around 1,888 milliseconds.Interestingly, tiles – often the most-considered bathroom choice – only came in seventh, but perhaps they are a feature that work hardest as a backdrop rather than a focal point.The bathroom top five were mirror, under-sink cabinets, sink, toilet, and bath.BedroomUnsurprisingly it was soft furnishings such as throws and doonas that won the day here.But a nice outlook and natural light may also be important with many participants also looking at the bedroom windows.As opposed to kitchens, flooring in the bedroom was near the bottom of the list, with neutral carpeting probably a standard choice.The bedroom top five were bed throw, doona/quilt, drawers, window, and decorative cushions.Home officeWhile a desk may be your major consideration when setting up a work room, it can go relatively unnoticed.The clear winner in this experiment was the office chair, which people looked at nearly three times more often and longer than the second-placed monitor screen.The office top five were office chair, monitor, shelving, art, and rug.Top trendsResearchers also decided to put distinctive décor to the eye-tracking test, packing rooms with a range of on-trend features, then measuring how quickly people homed in on these items. The clear winner is nostalgia, with 1940s and 50s-inspired boucle-textured furniture taking out the top spot followed by a host of 60s and 70s trends.The distinctive decor top ten were boucle furniture, rattan furniture, dark kitchen cabinets, mid-century furniture, berber rugs, painted arches, herringbone flooring, macrame, black shower fixtures, and dried flowers.Data from insurance comparison site confused.comAny advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### April cash rate remains unchanged at 3.60% Following ten consecutive rate rises, the Reserve Bank of Australia (RBA) today decided to hold the official cash rate at 3.60%.Today’s decision was spurred by turmoil in global banking markets and the monthly CPI indicator showing local inflation had eased last month.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### Monthly Winner for April 2023 Congrats to our April Winner – Sean wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Sean, and he’s won a $500 Bunnings voucher. Congratulations Sean.Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change. ### To buy or rent? It’s the ultimate property conundrum – buy or rent? The answer is: it depends. Annoying, right?But don’t be discouraged. It’s not an impossible question to answer. It just means the key factors you need to consider – prices, rent, interest rates – are constantly shifting.It’s worth diving into the data, however, because choosing between buying and renting can be a decision that saves or costs you thousands. In some suburbs, a recent study by PropTrack found mortgage repayments can be more than $1,000 a month cheaper than renting a similar-sized property.PropTrack’s Buy or Rent Report, released in the second half of 2022, crunched the numbers and found that despite a dramatic rise in property prices, it was still cheaper to buy than rent in many regions outside of NSW and Victoria. And units were more likely to fall into the cheaper to buy than rent category than houses in all States except NSW.We’ll get to the nitty gritty of which suburbs offer the best buying, but first, it’s important to look at the market trends that will weigh on the market in 2023.Prices fallThere is no doubt the dial shifted away from buying in late 2022, but this year rocketing rents may see the needle swing back as house prices cool and migration puts more pressure on the rental market. So, it’s a good time to take stock.Median home prices fell on average 5.3 per cent across the country last year according to CoreLogic’s 2022 market wrap, with the steepest declines in Sydney (down 12.1 per cent) and Melbourne (down 8.1 per cent). Despite this, capital city prices are still about 20 per cent up on pre-COVID levels.But it is the largest calendar-year drop since the 2008 financial crisis, driven by the Reserve Bank’s relentless nine straight rate hikes. The RBA’s cash rate went from a record low of 0.1 per cent in April to a decade high of 3.1 per cent in December.And while many expert predictions have come undone in recent years, property analysts agree prices will continue to come off the boil in 2023 and interest rates are expected to level out at 4 per cent or lower.Many are waiting to see how the mortgage cliff will play out in mid-2023 – when thousands of loans fixed at record low rates in 2021 will expire – catapulting borrowers onto unexpected high variable rates.Many buyers will see monthly repayments more than double if they can’t refinance at a better rate. While that’s not good news for homeowners, for potential buyers it puts more downward pressure on prices, making it a strong buyers’ market for the first time in years.Rentals rocketAt the same time property is cooling, the rental market looks set to go into meltdown. Last year rents leapt 10.2 per cent on average on CoreLogic data, well above the trend increase of 2-5 per cent a year.And PropTrack’s Overseas Search Report for November 2022 noted record numbers of rental searches originating from overseas, reflecting a return to higher migration and more competition. Rising rents may swing the balance of the buy/rent equation in line-ball suburbs.Where buying stacks upAround the country, it’s the lifestyle States where buying is still a better option in the majority of suburbs, according to the PropTrack data.In Queensland and WA, it was considered cheaper to buy a home in more than half the suburbs in the State, while in the NT, it was cheaper to buy in a whopping 98 per cent of suburbs.However, the number of suburbs where buying stacked up as the better option was down substantially on the previous year, particularly in Queensland, where more than 85 per cent of suburbs were considered cheaper to buy than rent in 2021, compared to just 50.5 per cent in 2022. In WA, it fell from 81 per cent in 2021 to 59.2 last year.There was also a marked difference between units and houses, with units offering more buying opportunities.State by StateThe PropTrack data also looked at where buying rather than renting would put the most money back in the pockets of capital city consumers.Interestingly, units offered some of the biggest opportunities, with calculations predicting residents in the Greater Melbourne suburb of Gowanbrae could save $3,223 a month (more than $38,000 a year) if they bought instead of rented a two-bedroom unit.It wasn’t the only area throwing up dramatic cost differences. Multiple suburbs in other States – from Mt Ommaney in Brisbane to Wanneroo in Perth – indicated potential savings of more than $1,000 a month for buyers over renters.It’s worth noting that when PropTrack makes these comparisons, it compares the cost of owning versus renting over the next 10 years based on current property and rental averages. The calculations factor in rent and interest rate rises along with additional ownership costs such as stamp duty, maintenance, council rates and body corporate fees. Mortgage repayments were based on a 30-year-loan term at 4.62 per cent, with properties achieving 3 per cent a year capital growth.Perhaps most significantly though, it assumes buyers have a 20 per cent deposit, something many would-be buyers struggle to save, particularly while renting. While they may have the capacity to meet monthly repayments, raising a deposit can feel like chasing a runaway train.Many lenders now offer formal family guarantee loans that allow parents to use equity to help their children buy.When renting makes senseOf course, there are times renting is a sensible option – perhaps you think prices will fall, don’t plan to stay in an area, want to get a feel for a suburb, or want to live in an area you can’t afford.The top suburbs where researchers found it was dramatically cheaper to rent were, as expected, some of the country’s most affluent areas, such as Watsons Bay in Sydney (where renting is a whopping $25,117 a month cheaper than buying), Teneriffe in Brisbane, Portsea in Melbourne and Peppermint Grove in Perth.Run the numbersThe property market can move fast. If you would like to see how the numbers stack up in your dream location right now, get in touch.Property Data: PropTrack Buy or Rent Report 2022 www.realestate.com.au/insights/proptrack-buy-or-rent-report-2022/ ### Haven Extras Autumn 2023 Feed your brain, feed the worldFreerice is an online educational trivia game that makes you smarter while you make a difference. For every answer you get right on the multiple-choice quiz, Freerice donates the cash equivalent of ten grains of rice to the United Nations World Food Programme (WFP). Private sponsors match the rice grain donations generated, triggering a payment to WFP. 100 per cent of all Freerice funds generated goes to the WFP. The money supports the organisation’s ongoing emergencies, with more than 100 million people receiving life-saving food and assistance across more than 80 countries each year. The quiz has five levels of difficulty in categories such as art, culture, history, geography, language, maths and science. As you play, a counter keeps a running tally of the number of grains you’ve donated. You can play alone or get competitive by creating a group.www.freerice.com ### RBA cash rate for March increased to 3.60% The Reserve Bank of Australia (RBA) today decided to increase the official cash rate for the tenth consecutive time, this time by 0.25% to 3.60%.Despite a slightly lower inflation figure of 7.4% in January, stronger than expected January retail sales have encouraged the RBA to remain on the increase path. ### Monthly Winner for March 2023 Congrats to our March Winner – Andrew wins a $500 Bunnings voucher!We appreciate your feedback, that’s why each month we give our customers who have recently settled a loan the chance to go in the competition to win a small thank-you gift. This month’s winner is Andrew, and he’s won a $500 Bunnings voucher. Congratulations Andrew. ## Pages ### Home Welcome to Real Lending Solutions!Your trusted mortgage broker in Wollongong.Read MoreYour Guide to Buying a New Home!Let us do the running around for you & help you find the best Home Loan!Read MoreLooking to refinance your loan?Get one of the best refinancing loan options for home renovation.Read More Previous slide Next slide Welcome to Real Lending Solutions!Your trusted mortgage broker in Wollongong.Read MoreYour Guide to Buying a New Home!Let us do the running around for you & help you find the best Home Loan!Read MoreLooking to refinance your loan?Get one of the best refinancing loan options for home renovation.Read More If this is your first house or you need to renovate, refinance, or invest, we are here to make it happen! Why should you use a mortgage broker? There are many good reasons why more than half of the people now use mortgage broker in Shellharbour to secure a home loan. The most important one is that we work for you, not the banks. We speak to you first to find out what you need and then use our market knowledge to better negotiate with the lenders. Then we get a range of options before determining which suits you, not what's suitable for the lenders. Read More Your Local Mortgage Experts in Shellharbour and Beyond Real Lending Solutions is your reliable local mortgage and finance broker. We support individuals, families, and businesses in Shellharbour, Dapto, Figtree, Wollongong, and Albion Park in becoming financially stable. As trusted local mortgage and finance brokers, we offer personalised financial solutions so that you can make the right decisions to ensure your future.If you are buying a home for the first time, upgrading to a new property or looking to invest in new areas, our experienced local mortgage and finance brokers are here to support you. We work with professional lenders to find the rates and flexible loan options that suit your unique needs.For home loans, we offer both fixed and variable rates, and we help simplify the procedure, saving time and energy. We also help property investors get better returns through our smart financing solutions. With our accurate refinancing advice, you can reduce your interest rates and improve your loan structure. We work fast, and we work hard for our clients Advantages of using a mortgage brokerHaving a mortgage broker negotiate finance on your behalf is the smart way to go, as they look to save you time, stress and money. Read More Crunch the numbers with our suite of calculatorsTake advantage of our 20 quick calculators, including our borrowing power calculator, loan comparison calculator and extra repayment calculator. Read More Let’s catch up and get started for your loan.The first thing we do is catch up to understand what it is you want. We are your financial professional, so the better we get to know you, the better we can help you. Read More Using a mortgage broker is a smart way to go Speak to us today We do the legwork for you We work with multiple lenders We may negotiate a better outcome We provide real choice, looking to find you the right deal We help at a time and place that suits you Get started with our free guides Investing in property Having the right people to help you is critical when investing in property. Do your homework on the property market before you drive in, and we will be thrilled to help you finance your decision. Download Your Free Guide Refinancing home loan As time marches on, situations change. Perhaps you have changed jobs? Or there's a new addition to the family? Maybe you would just like a better rate, or maybe you want to start renovation projects. Download Your Free Guide Be the first home buyer Buying first home is an exciting but big step to take and one that comes with many questions and decisions. The big questions are how much you can borrow and what are your likely repayments to be. Download Your Free Guide We streamline the process The first step is we discuss what your financial needs and goals are. Then we research the many different products from various lenders to ensure we find the right solution.And just to make things even easier, we will do the paperwork, manage the application process and then take it through to settlement.Since this is our expertise, we get the process moving quickly. We use our relationships with the lenders to secure your finances quickly.In short, we are there to look out for your interests, while lenders are there to look after their own. We don't have to say who will do a better job for you. Debt Consolidation Made Easy with Our Services Real Lending Solutions helps you get your finances back under control. Our debt consolidation services help you manage your repayment, which reduces your stress, saves you a good amount of money on interest, and makes you debt-free.We can assist you in combining multiple debts into a single loan, often at a lower interest rate than that of credit cards and personal loans. We collaborate with you to create a streamlined plan tailored to your lifestyle and financial goals. Private Lending Services - A Modern Approach to Your Commercial Needs If your business needs quick and flexible funding, Real Lending Solutions offers a variety of options. Unlike traditional funding methods, our private lending commercial services provide personalised solutions tailored to businesses with unique needs. We collaborate with trustworthy private lenders to offer flexible rates for clients in Dapto, Wollongong, Figtree, Albion Park, and Shellharbour. Why Choose Real Lending Solutions? Personalised Service We listen to your finance goals and design solutions tailored to your unique situation. Our personalised service ensures you get what you want. Diverse Solutions We provide quality financial services, from home loans and debt consolidation to private lending for commercial ventures. Reliable Advisors We are happy to convey that we communicate honestly and transparently. We are thorough professionals and ensure everything is streamlined. Local Expertise We know the market conditions and fluctuations in Dapto, Wollongong, Shellharbour, Figtree, and Albion Park and provide our services to these areas. Contact Us Today! If you are looking for reliable local mortgage and finance brokers, require support with debt consolidation, or are searching for supportive private lending—commercial solutions—we are here. Contact us today! Read More Our Testimonials What our customers say about us We were very nervous about changing our home loans for a better deal, but Cindy made it very easy, she done all the hard work and put our minds at ease.. I would highly recommend Cindy at Real Lending Solutions and we couldn't be happier. Vanessa Paterson Clinton is so helpful. We have used his expertise for years when different needs have arisen. He is always polite and efficient, and he never made us feel like we were too much trouble. I highly recommend him. Jenny Stephens Clinton recently assisted us in our refinance. He kept us informed and ensured we understood everything right from the start and was on the ball during the entire process. Would highly recommend Clinton and the Team for all your finance needs. Samantha Athanass Clinton helped my brother and I get our first loan, he went above and beyond for us and he kept us informed throughout the whole process which was hassle free. I highly recommend Real lending solutions. Max De Francesco Would highly recommend Cindy and the team. She went above and beyond to get us the best deal for us, we are so happy with the refinancing and look forward to working with Cindy for all our future mortgage broking and refinancing needs. Lisa Green Latest news & blogs ### Borrowing Power Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 From First Home to Dream House: Know Your Borrowing Capabilities It is essential to know your borrowing capacity before making crucial financial decisions in life. If you are planning to buy your first home, upgrade yourselves to your dream house, or just expand your investment portfolio, our borrowing power calculator is here to give you the essential information and clarity. What is My Borrowing Capacity? This is the amount a lender may offer you based on your income, credit history, expenses and present financial commitments. This plays an important role in knowing the size of your loan and ensuring your financial goals are met. Our calculator helps answer your question, what is my borrowing capacity by offering a personalised estimate per your unique needs. Why Use Our Calculator? We are focused on simplifying the lending procedure for those in Dapto, Wollongong, Figtree, Albion Park and Shellharbour. You can get a clear estimate in few steps, understand how your financial profile affects your borrowing power and make decisions about property purchases and future investments. What Influences Your Borrowing Capacity? When you are calculating, lenders consider these points, Income Stability A steady flow of money considerably increases borrowing power. The higher your income, the better your borrowing power. Credit History A good credit score indicates reliability and can help you get better loan offers. If you have a good credit history, you can be relaxed that your chances of getting a better loan and amount are high. Living Expenses When you manage your daily spending effectively, it also affects your borrowing capacity. Debt-to-Income Ratio The borrowing capacity changes if the loan is less than what you get. Your borrowing capacity eventually rises if it is very low compared to your income. How does the Calculator Work? This uses your financial information to estimate the maximum loan amount you can get. You need to input the following details,Income This includes salary, rental income, or any other regular earnings. Debts Share your information about any credit card backlog, personal and car loans. Expenses Provide a rough overview of your monthly living costs, such as bills, groceries and leisure. Loan Terms and Interest Rate These details help to refine and give a clear estimate based on the present market conditions. It’s Time for the First Leap! Discover your borrowing capacity with Real Lending Solutions' easy-to-use calculator. If you live in Dapto, Shellharbour, Figtree, Wollongong, or Albion Park, we are here to assist you in finding the right financial solution. Use our borrowing capacity calculator today! FAQs How accurate is the borrowing power calculator? A calculator provides a reliable estimate; the actual amount a lender offers may change accordingly. It is better to consult us – a professional advisor for real lending solutions. Does using the borrowing power calculator affect my credit score? No! Using our calculator is risk-free and does not affect your credit score in any way. It is just the first step to determining your borrowing capacity. How can one improve their borrowing capacity? To increase your borrowing power, focus on reducing current loans, maintaining a good credit score, increasing your income, and managing your expenses effectively. Can one use the calculator with existing debts? Yes! Your existing debts have nothing to do with using the calculator. Ensure you input all the relevant financial information and commitments for accurate results. ### SMSF Loans Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Empower Your Financial Future with SMSF and Self-Employed Loans At Real Lending Solutions, we focus on providing personalised SMSF loans and self-employed loan options that can help you manage your financial future. We understand that handling a Self-managed Super Fund or navigating the complications of self-employment requires some expertise and skill. This is why Real Lending Solutions is here, providing options according to your specific needs.SMSF loans are specialised financial products that help you to purchase investment properties. If you plan to diversify your portfolio or build a retirement safety net, an SMSF loan can help you increase the potential of your superannuation. With us by your side, you can enjoy access to expert and genuine advice by navigating through the complications of SMSF lending as per the regulations. Why Choose Self-Managed Super Fund Loans? Tax BenefitsYou can take advantage of lower rates within the superannuation environment, which can help you save a considerable amount of money.Portfolio Diversification Reduce the risk of loss by adding real estate to your investment strategy. When you have a diverse portfolio, you have the choice to invest or make use of them in any one or more.Retirement SecurityYou can build a strong, stable asset base for the future, and your retirement will be smooth and happy. Self-Employed Loan Options When you are all by yourself, securing loans can be challenging. At Real Lending Solutions, we support entrepreneurs, small businessmen, and freelancers, offering them the best option according to their needs. Our self-employed loan options include simplified application processes with less documentation, flexible repayment choices, and specialised support from our financial advisors. How Does Our Work Procedure Happen? We focus on making the loan process easy and smooth for you. Initial Consultation We discuss your goals and evaluate your financial position. This helps you move forward with your requirements.Loan Selection Identify the best SMSF loan or self-employed debt option for your needs. We personalise it to suit your financial requirements.Application Process Our advisors and experts handle all the documentation and paperwork, ensuring compliance and seamless operation.Other Support We are available to clarify all your queries and provide genuine guidance at every stage. Contact us when you have any doubts. Get Your Life Kickstarted with SMSF Loans Are you ready to tap the real potential of your Self-Managed Super Fund? We are here to guide you through every step of the SMSF loan procedure and ensure you know everything. Whether you are looking to buy your first investment property or improve your portfolio, we have the tools and experience to handle it and make it happen. Contact Us Today! If you are in Dapto, Figtree, Albion Park, Shellharbour and Wollongong, we are your reliable partner for SMSF loans and self-employed loan options. Real Lending Solutions is here to help all self-employed individuals level up in their lives by offering personalised loans. Contact us today and let us schedule a consultation to take the first step towards financial improvement. We are here to help you achieve your investment dreams with our flexible and easy loan options. ### Personal Loans Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Flexible Personal Loans for Every Need We all know life is full of surprises and opportunities. Whether planning a vacation, combining your debts, or handling unexpected expenses, our personal loans are designed to help you achieve your goals easily and smoothly.Real Lending Solutions offers diverse personal loans that meet your financial requirements. Our loans are designed to provide flexibility and comfort, whether you're renovating your home or purchasing expensive things. Real Lending Solutions is here to help you achieve all your aspirations. Car Loans are No More Complicated Are you looking to upgrade yourselves with your dream vehicle? Real Lending Solutions specialises in car loans with flexible terms and interest rates. You may be buying a brand-new or pre-owned car; we can do the loan procedure for you simply and stress-free. Car loans are no longer as complicated as a few years ago. With our car loans, you can get personalised options per your budget, genuine guidance to choose the best interest rates, and transparency with no hidden charges. Understanding the Interest Rates Better The most crucial factor that decides your financial capacity for a loan is this: We at Real Lending Solutions work to secure the best interest rates for our clients. We follow a transparent process and listen carefully to understand your loan terms and how they fit your financial goals. Our team carefully evaluates your financial profile to get you the best possible interest rates available, ensuring you get the best value for the money you are going to invest. Why Choose Us for Personal Loans? We are focused on providing customised service and genuine advice to ensure you get the best solution as per your financial needs.Fast ApprovalsWe understand that time is valuable in today’s world. So, we have a streamlined procedure that ensures fast approvals so that you can proceed on what is the most essential part of your life.Competitive Interest Rates We focus on bringing you the best. For those in Dapto, Wollongong, Figtree, Albion Park, and Shellharbour, we work towards providing the best interest rates.Expert SupportWe are here to provide you with essential advice, help you navigate the complicated procedure, and ensure you understand every step of your journey.Personalised Loan OptionsIf your expected amount is small or substantial, we can help you customise them as per your requirements.We are your reliable partner in personal finance for those in Dapto, Shellharbour, Wollongong, Figtree and Albion Park. Get ready to level up and make your lifestyle bigger and better! Get Them Started Now! We make applying for personal loans and car loans an easy experience. Our competitive rates and genuine support can help you reach your financial goals. Our friendly advisors are here to discuss your loan options and find out how we can help you get the best interest rates to save money on monthly repayment. Contact us today. ### Asset Finance Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Tailored Asset Finance Solutions for Business Growth Accessing the right equipment and resources is crucial for your business's growth. Whether you are expanding your operations, upgrading machinery, or investing in properties, our personalised asset finance solutions provide essential support and guidance in achieving your goals. At Real Lending Solutions, we offer diverse advice tailored to your specific needs since every industry has unique requirements.We offer diverse business finance options designed to support your unique requirements. Our experience and expertise in asset finance ensure you have access to funding options that meet all your requirements. When you choose Real Lending Solutions, you can be relaxed that your business growth is taken care of without any disruptions.Our equipment finance is suitable for buying machinery, tools, and other essentials to keep your business smooth and functioning. Our vehicle finance helps you get the cars and heavy vehicles you require to push your business forward. Technology finance is useful for upgrading your business by buying computers, software, and more. What are the Advantages of Asset Finance? Flexible Repayment Option You can choose from different plans to suit your cash flow and budget. This flexible repayment option helps you save money in the long term.Tax Benefits You can make use of the advantages of deductions that are related to asset finance agreements. Save a good amount of tax with the help of this method.Access to Modern Equipment You can keep your business competitive and ahead of many when you get the opportunity to acquire the latest inventions and machinery.Preserved Working Capital Avoid huge upfront expenses and you can free up the amount for other business needs. The working capital remains untouched with the help of asset finance. What Makes Us Ideal for You? Personalised Solutions We work with you to understand your requirements and business goals and offer the right finance options. Every business is unique, and its requirements are different, so it is better to have personalised solutions.Local KnowledgeWe are aware of the market conditions in Dapto, Wollongong, Figtree, Albion Park, and Shellharbour, which makes us the perfect partner. If you are running a business in any of these areas, our experts can make your job easier and the procedure simpler.Competitive RatesYou can use budget-friendly repayment plans that suit your financial situation without compromising your cash flow. Having flexible loan options can help you repay them as per your comfort and financial condition. Get Your Business Started! Real Lending Solutions is here to provide genuine advice and support if you are buying new machinery, levelling up in technology, or expanding your vehicle fleet. When you decide to take your business to the next level, you don’t have to worry much with us by your side. We ensure the solutions we offer are personalised, and the rates are competitive so you can repay them without any issue. Contact us today; our experts are ready to help you improve your business. ### Investing in Property Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Let’s buy a home together. Find the best property investment advisor to assist you with your property investment.It definitely pays to do your homework on the property market before you dive in and we are thrilled to be on board to help you when it comes to financing your decision. Recent share market slides, tight rental markets in most capital cities and a whiff of an increase in property prices are seeing many investors retreat to bricks and mortar.Generally, property in Australia is still considered to be a sound investment due to steady and consistent increases over time.But it's not a quick win. According to our experienced property investment advisor in Shellharbour, property usually has a seven to ten years cycle, with highs, lows and steady stints in between.Fortunately, an ongoing housing shortage in Australia and a tax system that allows negative gearing on property (where any investment losses can be claimed as tax deductions) continue to favour housing as a solid, long-term investment.But credit has tightened in the wake of the Global Financial Crisis, so lenders are more cautious about who borrows and for what. Real Lending Solutions, as the property investment advisors in Shellharbour, are here to help you find the right lender and loan for your circumstances in this new environment.Let us navigate the numerous investment property loans in Shellharbour for you, giving you more time to find your perfect property.  Download your free guide to property investment House or Unit? House prices often increase in bigger strides than units, offering more potential for capital gain over time. But a rental home also comes with added responsibilities, including gardens, lawns (and sometimes a pool) to maintain.. House or Unit? House prices often increase in bigger strides than units, offering more potential for capital gain over time. But a rental home also comes with added responsibilities, including gardens, lawns (and sometimes a pool) to maintain. A unit or townhouse may not increase in value as quickly, but they are generally easier to maintain. They may even be easier to rent for that very reason, depending on location, condition and size. Location Of course, you would have heard this before. But location can mean different things when it comes to rental properties. Renters are often looking for maximum convenience so consider properties near schools, major shopping centres and public transport. Location Of course, you would have heard this before. But location can mean different things when it comes to rental properties. Renters are often looking for maximum convenience so consider properties near schools, major shopping centres and public transport. As a property investment advisor, we recommend your to spend plenty of time researching target areas, including recent property price movements and future predictions, rental vacancy rates and any proposed infrastructure improvements. You should also do some scouting as if you were a renter to get a first-hand look at the local market. Neglect emotions One of the worst mistakes you can make with any investment is to buy with your heart instead of your head. Remember, your rental property is not your 'home sweet home'. Neglect emotions One of the worst mistakes you can make with any investment is to buy with your heart instead of your head. Remember, your rental property is not your 'home sweet home'. A well-presented property is desirable but think sensible, not swank. Ideally, you want a neutral interior colour scheme, serviceable, resilient flooring and window coverings, a low-maintenance yard and enough storage. And if buying an older style unit, look for one with an internal laundry, a garage or car space and few stairs (unless there's a great view to be had higher up, which can add to the property value). Do not forget the add-ons An investment property requires regular financial commitment beyond the loan repayments. Make sure you have the capacity to cover land, water rates, maintenance and repair costs. Tenants are entitled to repairs or replacements as quickly as possible under their rental agreement, so you will need to have the means to pay. Do not forget the add-ons An investment property requires regular financial commitment beyond the loan repayments. Make sure you have the capacity to cover land, water rates, maintenance and repair costs. Tenants are entitled to repairs or replacements as quickly as possible under their rental agreement, so you will need to have the means to pay. Apartments or units also come with body corporate fees, which can run to thousands in some modern complexes with professional landscaping and shared amenities, such as swimming pools. Cover your investment Make sure you take out landlord's insurance. This will cover you for damage caused by a tenant and unpaid rent if a tenant skips out, in addition to other standard risks, such as a house fire or a storm. Cover your investment Make sure you take out landlord's insurance. This will cover you for damage caused by a tenant and unpaid rent if a tenant skips out, in addition to other standard risks, such as a house fire or a storm. If you invest in a strata title property, make sure the body corporate has sufficient building insurance to cover the cost of rebuilding the complex in today's prices. It's often hard to work out what you need to cover versus what the body corporate covers. A good rule of thumb is everything from the wall paint inward is yours and everything outside of that is covered by the body corporate. Any interest? Many property investors take advantage of interest-only loans because interest payments are tax deductible. That means you are taking a punt that the property's value will increase over time, leaving you with a financial gain in the long run. Any interest? Many property investors take advantage of interest-only loans because interest payments are tax deductible. That means you are taking a punt that the property's value will increase over time, leaving you with a financial gain in the long run. This is a good strategy for high income earners who are taking advantage of negative gearing. If you choose to positively gear your investment (i.e., generate a profit from the rental income after costs), you might want to consider a principal and interest loan and use the profit to shave off the principal. Just remember, you will pay tax on any income from your investment. Talk to your accountant about your tax situation so your broker can find the right loan. Manage your investment Managing a property takes time and energy. If you don't have much to spare of either, you should get a professional property manager to advertise the rental, screen and select tenants, collect and pay the rent, coordinate repairs and maintenance, provide condition reports and manage any disputes. Ask other local landlords for referrals for reputable managers. Manage your investment Managing a property takes time and energy. If you don't have much to spare of either, you should get a professional property manager to advertise the rental, screen and select tenants, collect and pay the rent, coordinate repairs and maintenance, provide condition reports and manage any disputes. Ask other local landlords for referrals for reputable managers. You should also conduct twice-yearly inspections yourself. Any associated costs, including travel and accommodation, are tax deductible. If you decide to self-manage you will need to be well-versed in tenancy laws and prepared to organise repairs including those that arise after hours. We understand every borrower has unique circumstances - and most of them are quite complex than the others. We know from vast experience that lenders will work with investment customers with more complicated requirements and negotiate on your behalf. Appreciate depreciation The ATO will give you a discount off your tax bill for wear and tear on property. It's known as depreciation, and can be a very handy windfall for investors, especially if you buy a new property. Appreciate depreciation The ATO will give you a discount off your tax bill for wear and tear on property. It's known as depreciation, and can be a very handy windfall for investors, especially if you buy a new property. The formula is quite complex and depends on the age of your property, building materials and the various fittings. That's where a professional quantity surveyor comes in. For a fee (often around $600), they will assess the property and complete a Tax Depreciation Schedule, which your accountant will incorporate in your tax return. Taking ownership If you need both incomes to be considered in the lending equation, speak with one of our property investment consultant to get the right advice on the best ownership equation for your circumstances. Taking ownership If you need both incomes to be considered in the lending equation, speak with one of our property investment consultants to get the right advice on the best ownership equation for your circumstances. Previous Next A general list of investing FAQ Why invest in property? Australians are among the most active property investors in the world, with an average of one in every three new mortgages each month arranged for investors. Most of these investors are ordinary people with ordinary jobs earning ordinary incomes. So, why is property investment so popular? Capital Growth Capital growth is the increase in value of property over time and the long term average growth rate for Australian residential property is about 9% a year. Importantly, because property markets move in cycles, property values go through periods of stagnation as well as decline. This is why taking an investment view of at least 10 years is important.Note: If your investment property increases by 7.5% a year, over 10 years, it will double in value. Rental Income Rental income, also known as yield, is the rent an investment property generates. You can calculate this by dividing the annual rent by the price paid for the property and multiplying it by 100 to produce a percentage figure. As a general rule, more expensive properties generate lower yields than more moderately priced properties. There is also usually a direct, inverse relationship between capital growth and rental income. Those properties producing a lower rental yield will often deliver greater capital growth over the long term. Tax Benefits The Federal Government allows you to offset against your taxable income any losses you incur from owning an investment property. For example, if the amount you receive in rent from tenants is $5,000 less than the cost of servicing the mortgage, and paying rates, water and other fees associated with the property, at the end of the year you can add that $5,000 to the amount of income on which you don’t have to pay tax. Suppose you work as an employee, with income tax automatically deducted from your pay. In that case, this means you’ll receive a refund from the Australian Taxation Office (ATO) after the end of the financial year. Low Volatility Property values generally fluctuate less than the stock market. Many investors say they experience greater peace of mind for this reason. Leverage Property enables far greater leverage than many other investments. For example, if you have $100,000 in savings, you could invest it in a portfolio of shares, or use it to buy a property worth $500,000 by taking out a mortgage for $400,000. If shares go up by 10% during the year, your share portfolio would be worth $110,000 and you would have gained $10,000. If property goes up by 10% during that same year, your property would be worth $550,000 and you would have gained $50,000.You don’t need a big salary to invest. If you are buying to invest, lenders will take rental income as well as your own income into their assessment. If you already own your own home and have some equity in it, you may be able to use this as a deposit, meaning that you can buy an investment property without having to find any additional cash. If you don’t own your own home and feel you may never be able to afford one, buying an investment property may be a good stepping stone to one day being able to afford your own home. How much money can I borrow? We’re all unique when it comes to our finances and borrowing needs. Get an estimate on how much you could borrow with our Home Loan Quote in 30 seconds. Or contact us today, we can help with calculations based on your circumstances. How do I choose the loan that's right for me? Our guides to loan types and features will help you learn about the main options available. There are hundreds of different home loans available, so talk to us today. How much do I need for a deposit? Usually between 5% – 10% of the value of a property. Speak with us to discuss your options for a deposit. You may be able to borrow against the equity in your existing home or investment property. How much will regular repayments be? Go to our Repayment Calculator for an estimate. Because there are so many different loan products, some with lower introductory rates, talk to us today about the deals currently available, and we’ll find the right loan setup for you. How often do I make home loan repayments — weekly, fortnightly, or monthly? Most lenders offer flexible repayment options to suit your pay cycle. If you aim for weekly or fortnightly repayments, instead of monthly, you will make more payments in a year, which can potentially shave dollars and time off your loan. What fees/costs should I budget for? There are a number of fees involved when buying a property. To avoid any surprises, the list below sets out all of the usual costs:Stamp Duty — This is the big one. All other costs are relatively small by comparison. Stamp duty rates vary between state and territory governments and also depend on the value of the property you buy. You may also have to pay stamp duty on the mortgage itself. To find out your total stamp duty charge, visit our Stamp Duty Calculator.Legal/Conveyancing Fees — Generally around $1,000 – $1500, these fees cover all the legal rigour around your property purchase, including title searches.Building Inspection — This should be carried out by a qualified expert, such as a structural engineer before you purchase the property. Your Contract of Sale should be subject to the building inspection, so if there are any structural problems you have the option to withdraw from the purchase without any significant financial penalties. A building inspection and report can cost up to $1,000, depending on the size of the property. Your conveyancer will usually arrange this inspection, and you will usually pay for it as part of their total invoice at settlement (in addition to the conveyancing fees).Pest Inspection — Before you purchase or take an investment property loan, ensure the property is free of problems, such as white ants. Your contract of sale should be subject to the pest inspection, so if any unwanted crawlies are found, you may have the option to withdraw from the purchase without any significant financial penalties. Allow up to $500 depending on the size of the property. Your real estate agent or conveyancer may arrange this inspection. You will usually pay for it as part of their total invoice at settlement (in addition to the conveyancing fees).Lender Costs — Most lenders charge establishment fees to help cover the costs of their own valuation as well as administration fees. We will let you know what your lender charges but allow about $600 to $800.Moving Costs — Don’t forget to factor in the cost of a removalist if you plan on using one.Mortgage Insurance Costs — If you borrow more than 80% of the purchase price of the property, you will also need to pay Lender Mortgage Insurance. You may also choose to take out Mortgage Protection Insurance.Ongoing Costs — If you buy a strata title, regular strata fees are payable. You will need to include council and water rates along with regular loan repayments. It is important to also take out building insurance and contents insurance. Your lender will probably require a minimum sum insured for the building to cover the loan, but make sure you actually take out enough building insurance to cover what it would cost if you had to rebuild. Likewise, make sure you have enough content covered so that if the worst thing happens, you can easily replace them. ### News Latest News & Blogs ### Checklist of Loan Documents Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Here’s a checklist of required documents Most lenders follow a similar process when it comes to approving loans, so they generally need the same documentation. To keep the process moving forward, it helps to bring the documents listed below to the meeting with your broker. This can help fast-track your loan application. This is a general checklist and you may not need some of them. We can help show you which ones you need. Common questions for home builders Personal identification A current Passport or Birth Certificate Driver’s Licence. (Please note if these documents are in your maiden name, you will also need to provide a copy of your Marriage Certificate.) Other documents that will be useful: a Medicare card, Credit card, ATM/Debit card, Council Rates Notice, Pensioner Concession card, Health Care card, Tertiary Student ID card. Income details The two most recent payslips from your employer. (Ideally these will show the company name, number of payslip and year-to-date income figure). The most recent Group Certificate from your employer. If self employed: The last two year’s personal and business tax returns and ATO assessments. Other income details You may also need: Rental income statements or bank accounts showing rental income for any investment properties Proof of share dividends or interest earned Centrelink letter confirming family tax benefits Centrelink letter confirming permanent government pensions Private pension group certificate or statement Proof of any other regular, ongoing income. Additional documents for refinancing Documentation on your existing loan including the date the loan commenced, loan period and any financial penalty payable if you exit the loan early Statements for the last six months for any existing home loans and personal loans The most recent Council Rates Notice and building insurance policy on the property or properties being offered as security. Credit cards If you have credit card debt, statements for the last six months. If you don’t owe anything on your credit card, the most recent statement. Additional documents if you already own a home Statements for the last six months for any existing home loans or personal loans Your most recent credit card statement Copy of the Contract of Sale for the property you’re buying Statements for the last six months to show your savings/investment history. (This could include share certificates, savings account statements, term deposit statements, etc.) If other funds are being used for the purchase, evidence showing where the funds are held. If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money. Additional documents for First Home Buyers Statement for your First Home Saver Account, if you have one. Statements for the last six months to show your savings/investment history. This could include share certificates, term deposit statements, etc. If other funds are being used for the purchase, evidence showing where the funds are held. If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money. Your most recent credit card statement. Copy of the Contract of Sale for the property being purchased. Additional documents for investors If you already have investment property/ies: Evidence of income such as rental statements. A copy of the tenancy lease. A Council Rates Notice. A letter from a property manager indicating likely rent for the new property. Statements for the last six months to show your savings/investment history. This could include share certificates, term deposit statements, etc. If other funds are being used for the purchase, evidence showing where the funds are held. If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money. Your most recent credit card statement. Copy of the Contract of Sale for the property being purchased. Additional documents for borrowers seeking a construction loan A copy of a valid builder’s fixed price tender, including all specifications. A copy of Council approved plans. Statements for the last six months to show your savings/investment history. This could include share certificates, term deposit statements, etc. If other funds are being used for the purchase, evidence showing where the funds are held. If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money. Your most recent credit card statement. Copy of the Contract of Sale for the property being purchased. ### Explaining the Loan Process Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Got some questions about the loan process? Sometimes the best way to get an understanding of home loans, how it all works and how to choose the right one, is to speak to a broker in person. When you sit down with us, it’s the perfect opportunity for us to get to know you so we can get a good understanding of what you need right now and what your financial goals may be for the future. For you, it’s a chance to ask all the questions you have about finding and choosing a loan, applying, the approval process, and what happens after that. The good bit is that we will come to you at a time and place that suits – home, office or café… day, night or weekend. How does the process work? Arrange a pre-approved loan If you haven’t started your property search, or are still looking, a pre-approved loan can be useful. It gives you a clear picture of what your spending limits are and gives you peace of mind that if you find a property you’re really interested in you can move quickly to make an offer. And it may put you in a stronger negotiating position than other potential buyers who don’t have pre-approval. Of course, even with a pre-approval, a subject to finance clause is an important protection in any sale contract. Find your property Make sure you do plenty of homework when you’re on the hunt for a new property. Research property prices in the area, potential capital growth and existing and planned infrastructure, such as roads, public transport, schools and shops. If you’re unfamiliar with property values in the area, consider a full valuation carried out by a registered valuer before making a final decision. Make an offer and sign a Contract of Sale Whether you buy property at auction or make an offer on a listing you’ll be asked to sign a Contract of Sale. This contract will confirm the selling price as well as any terms and conditions. You will need to include appropriate conditions such as subject to lender approval, a building inspection report and a pest inspection. The period from signing a Contract of Sale to settlement – when the property becomes legally yours – is usually six weeks (shorter in some states, such as Queensland).Note: even if you have a pre-approved loan, your lender will still need to complete a valuation of the property you have chosen before issuing full approval and if that valuation is not satisfactory the lender may not give final approval of a loan to purchase that property. Appoint a conveyancer You will need a conveyancer or solicitor to act for you to complete the sale. Your conveyancer should also check all rates and taxes have been paid, check land use or building approvals for the property and order any relevant searches. They may also help sort out any inspections. On settlement day, the conveyancer will check the correct amount of money has been transferred from your lender to the seller and all fees – such as Stamp Duty – are paid, so you can take legal ownership of the property. Pay a deposit A deposit is required once a Contract of Sale has been signed by both parties. You won’t yet have access to your home loan, so your deposit will need to come from savings or elsewhere. You may also be able to arrange a deposit bond until settlement. Cooling off period If you didn’t buy your property at auction, you may have a cooling off period when you can cancel the contract, although there may be a small penalty. Cooling off periods don’t necessarily apply in every state so check with your relevant state authority to find out what your rights may be. Unconditional contracts Be very cautious about signing an unconditional contract or bidding at an auction especially if you’re not certain about whether you’ll be able to obtain finance or about buying the home. You should also consider obtaining legal advice before signing a sale contract or bidding at an auction. ### Business Finance Guide Looking for an expert business finance advisor in Shellharbour? Free Download Simply tell us your name and email address to receive your guide on how a mortgage broker can help you. If you choose to provide your information, it will be used to offer or provide you with our services and/or the services of our associates. We may also ask you for feedback. We may not be able to assist you if you do not provide your information. We may need to disclose your information to other organisations providing services to us, that may be overseas. If you would prefer not to receive marketing material you can always unsubscribe. We include a simple unsubscribe feature on all electronic marketing materials that we send. Our Privacy Policy (which is available on this website) contains information about how you can access your personal information and request corrections or lodge a complaint. Information about who we are and how to contact us is available on this website. ### Why Use a Broker Guide Why Use A Broker? Free Download Simply tell us your name and email address to receive your guide on how a mortgage broker can help you. If you choose to provide your information, it will be used to offer or provide you with our services and/or the services of our associates. We may also ask you for feedback. We may not be able to assist you if you do not provide your information. We may need to disclose your information to other organisations providing services to us, that may be overseas. If you would prefer not to receive marketing material you can always unsubscribe. We include a simple unsubscribe feature on all electronic marketing materials that we send. Our Privacy Policy (which is available on this website) contains information about how you can access your personal information and request corrections or lodge a complaint. Information about who we are and how to contact us is available on this website. ### Typical Loan Features Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Typical loan feature There’s no perfect loan for everyone. However, there’s one perfect for you. There are various loans out there, each with its benefits and drawbacks. The great thing is that lenders are more competitive than ever and are constantly refining their products and releasing new ones. The problem is, how do you find one that’s right for you? Discover the perfect home loan consultant in Shellharbour to guide you every step of the way. We start by getting to know you and understanding your unique needs. Then, we explore tailored options to find the best fit. To simplify the process, we assist with paperwork and manage your application from start to approval. Ready to take the next step? Let's connect with home loan providers in Shellharbour and get started on your journey. Here’s a guide to standard loan features and benefits Obviously, all the features will not be available on every loan. You can let us know about the feature you may be interested in. Interest Only Repayments You only pay the interest on the loan, not the principal, usually for the first one to five years, although some lenders offer longer terms. Some lenders give borrowers the option of a further interest-only period. Because you are not paying off the principal, your monthly repayments are lower. Offset Account This is a savings account linked to your home loan. Money paid into the savings account is deducted from the balance of your home loan before interest is calculated. The more money you save, the lower your regular home loan repayments. You can often access your savings in the usual way, by EFTPOS and ATMs. This is one of the great ways to reduce your loan interest. Be aware that the account may have higher monthly fees, require a minimum balance, or have other restrictions. Weekly or Fortnightly Repayments Instead of a regular monthly repayment, you pay off your home loan weekly or fortnightly. This can suit people who are paid on a weekly or fortnightly basis and will save you money because you end up making more payments in a year, potentially cutting the life of the loan. Redraw Facility This typically allows you to access any extra repayments you have made. Knowing you have access to funds can provide peace of mind. Be aware lenders may charge a redraw fee and have a minimum redraw amount. There might also be other restrictions on when funds can be redrawn. Repayment Holiday You may be able to take a complete break from repayments or make reduced repayments for an agreed period. This can be useful for travel, maternity leave or a career change. Extra Repayments If you pay more than the required regular repayment, the extra amount may be deducted from the principal. This not only reduces the amount you owe but lowers the amount of interest you repay. Making extra repayments regularly, even small ones are the best way to pay off your home loan quicker and save on interest charges. Direct Debit Your lender automatically draws repayments from a chosen bank account. Apart from ensuring enough cash in the account, you don’t have to remember to repay. All-in-one Home Loan This combines a home loan with a cheque, savings, and credit card account. You can have your salary paid into it directly. Keeping cash in the account for as long as possible each month can reduce the interest charges. Used with discipline, the all-in-one feature offers both flexibility and interest savings. Interest rates charged for these loans can be higher. Professional Package Home loans over a specific value are offered at a discounted price and discounted fees on other banking services. These can be attractively priced, but if you do not use the banking services, you may be better off with a primary variable loan. Portable Loans If you sell your current property and buy somewhere else, you can take your home loan with you. This can save time and set-up fees, but you may incur other charges ### First Home Buyers Guide Looking to buy your first home? Free Download Fill in your details for a simple, clear guide on how a broker can help get you a home loan. If you choose to provide your information, it will be used to offer or provide you with our services and/or the services of our associates. We may also ask you for feedback. We may not be able to assist you if you do not provide your information. We may need to disclose your information to other organisations providing services to us, that may be overseas. If you would prefer not to receive marketing material you can always unsubscribe. We include a simple unsubscribe feature on all electronic marketing materials that we send. Our Privacy Policy (which is available on this website) contains information about how you can access your personal information and request corrections or lodge a complaint. Information about who we are and how to contact us is available on this website. ### Looking to Refinance Guide Is your home loan still right for you? Free Download Go through the guide in your own time and contact us for more information or to make an appointment at a time that suits you. If you choose to provide your information, it will be used to offer or provide you with our services and/or the services of our associates. We may also ask you for feedback. We may not be able to assist you if you do not provide your information. We may need to disclose your information to other organisations providing services to us, that may be overseas. If you would prefer not to receive marketing material you can always unsubscribe. We include a simple unsubscribe feature on all electronic marketing materials that we send. Our Privacy Policy (which is available on this website) contains information about how you can access your personal information and request corrections or lodge a complaint. Information about who we are and how to contact us is available on this website. ### Investing in Property Guide Looking to invest in property? Free Download Fill in your details for a simple, clear guide on how a broker can help get you a home loan. If you choose to provide your information, it will be used to offer or provide you with our services and/or the services of our associates. We may also ask you for feedback. We may not be able to assist you if you do not provide your information. We may need to disclose your information to other organisations providing services to us, that may be overseas. If you would prefer not to receive marketing material you can always unsubscribe. We include a simple unsubscribe feature on all electronic marketing materials that we send. Our Privacy Policy (which is available on this website) contains information about how you can access your personal information and request corrections or lodge a complaint. Information about who we are and how to contact us is available on this website. ### Business Loan Repayment Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Property Buying Cost Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Interest Only Mortgage Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Lump Sum Repayment Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Property Selling Cost Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Compound Interest Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Income Tax Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Credit Card Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Budget Planner Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Home Loan Offset Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Do not forget the add-ons An investment property requires regular financial commitment beyond the loan repayments. Make sure you have the capacity to cover land, water rates, maintenance and repair costs. Tenants are entitled to repairs or replacements as quickly as possible under their rental agreement, so you will need to have the means to pay. Apartments or units also come with body corporate fees, which can run to thousands in some modern complexes with professional landscaping and shared amenities, such as swimming pools. Do not forget the add-ons An investment property requires regular financial commitment beyond the loan repayments. Make sure you have the capacity to cover land, water rates, maintenance and repair costs. Tenants are entitled to repairs or replacements as quickly as possible under their rental agreement, so you will need to have the means to pay. Apartments or units also come with body corporate fees, which can run to thousands in some modern complexes with professional landscaping and shared amenities, such as swimming pools. Looking for another calculator? 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Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Introductory Rate Loan Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Extra Repayment Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### How Long To Repay Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Reverse Mortgage Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Income Annualisation Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Split Loan Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Comparison Rate Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Mortgage Switching Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Savings Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Loan Repayment Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Different Loan Types Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 A new home or a new loan – Which is easier to find? When you are looking for a new home probably have a good idea of what you are looking for – what it looks like, what size it is, even where it is located, maybe even right down the street. But when it comes to fixed rate loans in Shellharbour, where do you start? There are hundreds of loans from a vast choice of lenders. And there are new products coming into the market all the time. As a broker, our job is to help you find one loan out of the hundreds available that suit your individual needs. What's more, we will help manage the whole process for you. We will assist you with the paperwork and manage the application process right through to approval. Of course, with all loan products there are pros and cons, so it is a good idea to get familiar with the different loan types. Here's quick look at the main types of loans and some of their advantages and disadvantages. Variable Standard variable rate loans in Shellharbour are the most popular home loan in Australia. Interest rates go up or down over the life of the loan depending on the official rate set by the Reserve Bank of Australia and funding costs and the individual decisions of each lender. Your regular repayments generally pay off both the interest and some of the principal. You may also be able to choose a basic variable rate loan, which offers a discounted interest rate but has fewer loan features, such as a redraw facility and repayment flexibility. Pros If interest rates fall, the size of your minimum repayments will too. Standard variable loans generally allow you to make extra repayments. Even small extra payments can cut the length and cost of your mortgage.  Basic variable loans often don’t come with a redraw facility, removing the temptation to spend money you have already paid off your loan. Cons If interest rates rise, the size of your repayments will too. Increased loan repayments due to rate rises could impact your household budget, so make sure you take potential interest rate hikes into account when working out how much money to borrow. You need to be disciplined around the redraw facility on a standard variable loan. If you dip into it too often, it will take much longer and cost more to pay off your loan.  If you have a basic variable rate loan, you may not be able to pay it off quicker or get access to money you have already repaid if you ever need it. Fixed The interest rate is fixed for a certain period, usually the first to five years of the loans. This means your regular repayments stay the same regardless of changes in interest rates. At the end of the fixed period, you can decide whether to fix the rate again, at whatever rate lenders are offering, or move to a variable rate loan. Pros Your regular repayments are unaffected by increases in interest rates. You can manage your household budget better during the fixed rate loan period, knowing exactly how much is needed to repay your home loan. Cons If interest rates go down, you don’t benefit from the decrease. Your regular repayments stay the same. You can end up paying more than someone with a variable rate loan if rates remain higher under your agreed fixed rate for a prolonged period. There is very limited opportunity for additional repayments during the fixed rate loan period. There may be significant break costs that you must pay if you exit the loan before the end of the fixed rate period. Split Rate Loan Your loan amount is split, so one part is variable, and the other is fixed. You decide on the proportion of variable and fixed. You enjoy some of the flexibility of a variable loan along with some of the certainty of a fixed rate loan. Pros Your regular repayments will vary less if interest rates increase, making it easier to budget. If interest rates fall, your regular repayments on the variable portion will too. You can generally repay the variable part of the loan quicker if you wish. Cons If interest rates rise, your regular repayments on the variable portion will too. Your additional repayments of the fixed rate portion will be limited. There may be significant break costs that you must pay if you exit the fixed portion of the loan early. Interest Only You repay only the interest on the amount borrowed usually for the first to five years of the loan, although some lenders offer longer terms. Because you are not also paying off the principal, your monthly repayments are lower. At the end of the interest-only period, you begin to pay off both interest and principal. These interest rate loans in Shellharbour are especially popular with investors who plan to pay off the principal when the property is sold. This strategy is usually reliant on the property having achieved capital growth before it is sold. Pros Lower regular repayments during the interest only period. If it is not a fixed rate loan, there may be flexibility to pay off, and possibly redraw, the principal at your convenience during the interest-only period. Cons The overall cost of the interest rate loan is likely to be higher. At the end of the interest only period you have the same level of debt as when you started. If you are not able to extend your interest-only period, your repayments will increase at the end of the interest-only period. You could face a sudden increase in regular repayments at the end of the interest rate loan. Line Of Credit You can pay into and withdraw from your home loan every month as long as you keep up the required regular repayments. Many people choose to have their salary paid into their line of credit account. This type of loan is good for people who want maximum flexibility in their access to funds. Pros You can use your income to help reduce interest charges and pay off your mortgage quicker.  Provides great flexibility for you to access available funds. Simplifies your banking into one account. Cons Without proper monitoring and discipline, you won’t pay off the principal and will continue to carry or increase your level of debt. Line of credit loans usually carry higher interest rates than a standard variable mortgage. Introductory/Honeymoon Originally designed for first-home buyers, but now available more widely, introductory loans offer a discounted interest rate for the first 6 to 12 months, before the rate reverts to the usual variable interest rate loan. Pros Lower regular repayments for an initial ‘honeymoon’ period. Cons Loans may have restrictions, such as no redraw facilities, for the entire length of the loan. When the honeymoon rate period ends a homeowner may be locked into an interest rate that is not as competitive as elsewhere. Some banks may charge early termination fees if you decide to switch to a new lender. Less Documentation Popular with self-employed people, these loans require less documentation or proof of income than most, but often carry higher interest rates of loan or require a larger deposit because of the perceived higher lender risk. In most cases you will be financially better off getting together full documentation for another type of loan. But if this isn't possible, a low document loan may be your best opportunity to borrow money. Pros Lower requirement for evidence of income. Cons You will probably pay higher interest than with other home loan types or may need a larger deposit, or both. ### Reviews What they say about us Real Lending Solutions5.0Based on 21 reviewsreview us onSharyn Peason08:57 14 Feb 23Cindy and Clinton have been amazing to deal with. Changing our loans and ways of banking was a daunting concept at first but Cindy and Clinton were always available to explain the process and walk us through each step. We were provided options for the best possible loan for our needs which will save us money and pay off our loan so much faster. Nothing was ever too much trouble and the support we received throughout was exceptional.Brent Dawson00:48 15 Dec 22Great team at Real Lending Solutions. We dealt mostly with Clinton (although, the brief contact we had with Cindy was excellent!). He spent time, breaking down some information we asked about. Then we decided a refinance was the best option and he quickly organised it all, even taking the time to answer a couple of questions I had after hours. Highly recommended and we'll be back in the future.Joanne Van Vliet23:05 19 Nov 22Clinton is friendly and approachable with excellent communication skills. He provided me with great advice on which lender was right for me in a way that was easily understood. I have used Clinton as my broker multiple times and will continue to use him to ensure I am getting the best rates/deal from my lender. I would highly recommend Clinton to anyone looking to get a mortgage and who doesn't want to deal directly with banks.Leanne van Vliet23:04 19 Nov 22Great customer service. Friendly staff member who is available to meet me outside of usual work hours due to my busy work schedule. Clinton always researches multiple lenders and assists me in making the right choice for my home loan. I feel confident using this company, and specifically Clinton, and have used his services for my last three home loans. Clinton's outstanding communication helps make for a smooth process. I will continue to use Clinton's services in the future as there is a high level of trust and I know that my needs will always be met.Lisa Kennedy09:32 06 Sep 22Clinton has helped with a home loan for us twice over the last couple of years and also a personal loan. I recommend him a hundred times over. Always so happy to help. Put up with my thousands of questions and requests and honestly made the process so easy. I would give 10 stars if I could!See All Reviews ### Contact Us Get in touch with us today! Address 2 - 4 Bong Bong Rd Dapto NSW 2530 Email clinton@reallendingsolutions.com.au Phone 0414 666 015 Sms 0482 076 071 Opening Hours Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Australian Credit Licence: 389087 ### Home Loans Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Buying a property is a time to be excited. Don't waste it looking for a loan. We will help you find the right loan. Because we work for you, our home loan broker in Shellharbour is dedicated to working for you. We will meet at a place and time that suits you We do the legwork You will get a choice of different lenders  You will have more options We do the hard work We are considering a range of options for you. Using our understanding and knowledge of the current market, we look at different loans and quickly narrow them down to the ones that suit your specific needs. Then we choose together. And we help with the whole process We don't stop at just finding the finance. Our home loan consultant in Shellharbour will help complete the paperwork, manage the application process and follow it through to approval. Leaving you time to get excited about your new home. We are here to help There are so many loans and lenders that the idea of narrowing it down to one is pretty daunting. Even then, how do you even know you have chosen the one that's right for you? That's where a home loan broker in Shellharbour comes in. Speak To Us Today! ### About Us About Us Who are we? We're mortgage brokers in Dapto and service the Illawarra area and beyond. We'll help navigate you through the competitive and ever-changing mortgage landscape to find the right loan for you. We'll go into bat and negotiate on your behalf, and we'll make the process as simple as possible for you, geared up to deliver fast results. We'll help you avoid the pitfalls, and we'll find loan features to suit your personal circumstances.Why use us as a mortgage broker when looking for finance?A mortgage loan provider in Shellharbour shops around for the home loan that's right for you. Whether you're in the market for your home loan consultant in Shellharbour or building a portfolio of investment properties, we have access to hundreds of loans from a host of Australia's leading lenders. We do the hard work for you. We will ensure you get the right home loan for your circumstances and manage the process from start to finish.When should you see a property investment consultant in Shellharbour, and what can you expect?You can see us at any stage in your financial journey. Whether you’re still saving for your first home, looking to use the equity in your current one, or wondering if you’re still getting the right deal with your existing lender, we're here to help. You can make an obligation-free appointment with us at a time and place that suits you.We will ask about your financial circumstances and objectives to determine what’s important to you in a home loan. For example, flexibility might be crucial if you plan to start a family or want ready access to equity for a rental property or renovations. Whether you're interested in a new construction mortgage in Shellharbour or other financial solutions, we will research the market and recommend the right home loan to suit your needs. We always look for the right loan for you, not the lender. Meet the team Speak directly to us, just make sure to include all your contact details for us to get back to you as soon as possible. Clinton Davidson Loan Specialist Real Lending Solutions Email: clinton@reallendingsolutions.com.auCindy Micevska Lending Specialist Real Lending Solutions Phone: 0409 730 393 Email: cindy@reallendingsolutions.com.au Clinton Davidson Loan Specialist Real Lending Solutions Email: clinton@reallendingsolutions.com.au Cindy Micevska Lending Specialist Real Lending Solutions Phone: 0409 730 393 Email: cindy@reallendingsolutions.com.au Clinton Davidson clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 Professionalism at every turn. We pride ourselves on our professionalism in every facet of our business. Simply click here for a copy of our Internal Dispute Resolution (IDR) process. ### Loan Comparison Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Borrowing Power Calculator Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Looking for another calculator? Savings Calculator Mortgage Switching Calculator Borrowing Power Calculator Comparison Rate Calculator Split Loan Calculator Income Annualisation Calculator Loan Comparison Calculator Reverse Mortgage Calculator Loan Repayment Calculator How Long to Repay Calculator Extra Repayment Calculator Introductory Rate Loan Calculator Stamp Duty Calculator Home Loan Offset Calculator Budget Planner Credit Card Calculator Income Tax Calculator Compound Interest Calculator Property Selling Cost Calculator Lump Sum Repayment Calculator Interest Only Mortgage Calculator Property Buying Cost Calculator Business Loan Repayment Calculator ### Calculators First Home Buyer? Looking for a calculator to help with buying your first home? Get Started Here Calculate how much you can borrow… Borrowing Power Calculator Refinancing a property? Looking for a calculator to help with your refinance decisions? Get Started Here Calculate how much you can borrow… Loan Comparison Calculator Investing in property? Looking for a calculator for property investment? Get Started Here Calculate how much you can borrow… Loan Repayment Calculator Managing your money should be easy. To help you out we’ve put together a collection of over 20 calculators that will allow you to work through a number of scenarios and help plan your financial situation. Select from the list of savings, tax and loan calculators below.  Savings Calculator See how much you can grow your savings. Savings Calculator See how much you can grow your savings. View Now Mortgage Switching Calculator See what it costs to move your loan to a new lender. Mortgage Switching Calculator See what it costs to move your loan to a new lender. View Now Borrowing Power Calculator Use your details to estimate how much you could borrow. Borrowing Power Calculator Use your details to estimate how much you could borrow. View Now Comparison Rate Calculator Use interest rates and fees to compare trues costs of different loans. Comparison Rate Calculator Use interest rates and fees to compare trues costs of different loans. View Now Split Loan Calculator Work out the costs of splitting your loan into a fixed and variable loan. Split Loan Calculator Work out the costs of splitting your loan into a fixed and variable loan. View Now Income Annualisation Calculator Work out your annual income from the money you’ve received so far this year. Income Annualisation Calculator Work out your annual income from the money you’ve received so far this year. View Now Loan Comparison Calculator Adjust rates and terms to compare different home loans. Loan Comparison Calculator Adjust rates and terms to compare different home loans. View Now Reverse Mortgage Calculator See how much equity you can access in your home and calculate the costs of the loan. Reverse Mortgage Calculator See how much equity you can access in your home and calculate the costs of the loan. View Now Loan Repayment Calculator Estimate your home loan repayments and work out how to repay it faster. Loan Repayment Calculator Estimate your home loan repayments and work out how to repay it faster. View Now How Long to Repay Calculator Work out how long it will take to pay off your loan. How Long to Repay Calculator Work out how long it will take to pay off your loan. View Now Extra Repayment Calculator See the difference additional payments will make on your home loan. Extra Repayment Calculator See the difference additional payments will make on your home loan. View Now Introductory Rate Loan Calculator Calculate what happens to your loan with an introductory or ‘honeymoon’ rate. Introductory Rate Loan Calculator Calculate what happens to your loan with an introductory or ‘honeymoon’ rate. View Now Stamp Duty Calculator Find out how much stamp duty you’ll have to pay on a home. Stamp Duty Calculator Find out how much stamp duty you’ll have to pay on a home. 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View Now ### Building a New Home Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Simplify Your Path to Homeownership with Construction Loans At Real Lending Solutions, we believe that building your dream home should be an exciting and rewarding experience, not a stressful one. Whether you're constructing your first house, buying land, or looking to finance a new build, our team is here to guide you through every step of getting the construction loan process. Understanding Construction Loans Better When your dream involves building a new home from scratch, a construction loan is your ideal financial solution. Unike the traditional ones; construction loans are curated for new building. These loans provide funding in stages, allowing you to pay for construction as it progresses.Key features of Constuction Loans: Funds are released in different stages, including land purchase, foundation laying, framing, and final completion. During construction, you only pay interest on the amount you have taken, which keeps your repayments easy to manage. Once the building is completed, the loan gets converted into a standard one. With this, you can be relaxed that you are paying interest only for the funds you have used which reduces financial strain. How Real Lending Solutions Helps First-Time Home Builders We specialise in helping first-time buyers navigate the complexities of construction loans. Our approach ensures you’re fully informed and confident throughout the process. Here’s What We OfferClear Guidance on Stages: We explain how funds are released and managed during each stage of construction.Interest-Only Period Management: We help you understand repayment terms to keep finances stress-free during the build.Smooth Transition to Standard Loan: Once your home is complete, we guide you through the transition to a long-term mortgage. Steps to Owning Your First Home At Real Lending Solutions, we simplify the journey to homeownership. Here’s how we make it happen: We schedule a meeting with our lending experts to discuss your goals and financial situation. We help you get pre-approval so you can begin your search with confidence or start building. If you are buying land, selecting builder or purchasing a home that is already completed, we assist you in making the right decision. Our team can handle all the paperwork and documentation by communicating with the lenders on behalf of you. Why Choose Real Lending Solutions? Trust Our Local Expertise With deep knowledge of local markets, we provide insights into property trends, government grants, and stamp duty concessions, ensuring you maximise your benefits. Personalised Loan SolutionsWe assess your financial situation to find construction loans with competitive interest rates and flexible repayment options. Simplifying the Loan Process Navigating the loan application process can be daunting, but our experienced team is here to make it seamless, avoiding unnecessary delays or complications. If you’re based in Shellharbour, Dapto, Albion Park, Figtree, or Wollongong, our team is ready to provide expert support tailored to your local area. Build Your Future! At Real Lending Solutions by your side, we empower you to turn your vision into reality. With our expertise and network of trusted lenders, we simplify the process of securing a construction loan, helping you focus on what matters—creating your dream home. Contact us today and schedule a consultation with us to take the first step towards making your vision a reality. ### Refinancing your Home Loan Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 The Best Renovation Loans for Homeowners in Dapto and Surrounding Areas Refinancing your home loans can help unlock financial opportunities, enabling you to access funds for renovations while securing a better interest rate. We specialise in helping property owners in Dapto, Wollongong, Figtree, Albion Park, and Shellharbour get the most out of their present debt. When you refinance your home loan, you're essentially taking out a new loan to replace the existing one. This helps lower your interest, which saves money with a reduced repayment. You can also merge two or more debts into single loan. Real Lending Solutions is the perfect destination if you are looking for renovation loans to alleviate your financial pressure. Maximise Your Property Value with Personalised Renovation Loan Solutions If you are planning to upgrade your kitchen, extend your space, or give your backyard a nice makeover, renovation loans are the perfect option. These are cost-effective ways to improve finances that can increase the value of your property and enhance your living experience. We ensure the procedure is simplified so you get the funding you need with less effort.Our experienced brokers listen to your financial goals carefully and curate the best option, personalised according to your renovation plans. How to Refinance Your Home Loan? A Step-by-Step Approach It is a simple procedure with some steps mentioned below:Evaluate Your Existing Loan We assess your current mortgage and identify how much you can save on this. Understand Your Goals If you want renovation loans or lower repayments, we can personalise our search to meet your requirements. Compare Options We conduct research and present you with the best option from leading lenders. This helps you to choose the perfect one for you. Handle the Paperwork Once you are done selecting, you can relax as we take care of the documentation and negotiations on your behalf. Refinance and Save Enjoy the benefits of your new home loan arrangement from now on. What Makes Us Unique? Refinancing can be stressful, but with Real Lending Solutions, you have a partner to assist you through the procedure.Personalised Solutions We compare diverse options to find you the best loan. We also research and curate a personalised plan so you don’t have to pay an extra amount.Transparent ProcedureWe ensure you are aware of everything we do, from application to approval, so you can be relaxed knowing that everything is in safe hands. Contact Us Today! Keep your finances safe and give your home a new makeover with us by your side. If you live in Dapto, Albion Park, Figtree, Shellharbour, or Wollongong, we are ready to help you find the perfect renovation loan. Call us today! Download your free guide to home refinancing ### Buying a Home Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Unlocking Your Future: Personalised Investment Loans for Every Homebuyer One of the most crucial events in our lives is investing in a property because it takes a good amount of our savings and becomes our permanent home. Whether you are a first-time home buyer, upgrading your home, or just making your portfolio look better, Real Lending Solutions is here to provide investment home loans. Our aim is to make this journey smooth and stress-free by offering personalised solutions that meet your unique needs. Get Pre-approved Home Loans & Stay Peaceful Starting your home-buying journey smoothly can make the experience enjoyable. Getting pre-approved home loan clarifies your borrowing capacity and let the sellers know you will buy. Our assistance help will help you get a clear understanding of the budget, and you can be ready to make a good offer when you find your dream home.We evaluate your financial situation, suggest the best option for home loans. As a renowned home loan broker in Shellharbour, we take care of the paperwork to make the procedure easier. Our pre-approved home loan services ensure that your hard work pays off in achieving your homeownership goals. Check Our Investment Home Loan Options If you want to diversify your portfolio, Real Lending Solutions is the perfect destination. We specialise in investment home loans designed to improve your portfolio and ensure good returns.If you are buying your first rental property or just want to add something to your assets, we are here to personalise solutions according to your requirements. With us by your side, you can be confident and grow your investment properties. Why Choose Us for Buying a Home? It is not going to be complicated for you to find the best option for home loans when you have us. We also provide our services in Wollongong, Figtree, Albion Park and the surrounding locations. We compare many loan products from different lenders, know your budget and find a suitable one for you. If you are looking for low interest rates, flexible repayment, or loans with specific options, we can get you the essential information for you to make a good decision. Our team listens to your requirements to understand your finance goals, lifestyle, and plans for the future. This helps us create a personalised plan that ensures you get a good loan that doesn’t affect your future growth. Make Your Home Buying Dream Come True! We are more than happy to get you the best loans to buy the property you love. If you are looking for pre-approved home loans or investment opportunities, Real Lending Solutions is here. Contact us today and let us discuss how to do it seamlessly. ### Becoming a First Home Buyer Contact us Now Join us on Facebook Reach Us clinton@reallendingsolutions.com.au PO Box 445 Dapto NSW 2530 0414 666 015 0482 076 071 Mon - Sun : 8AM - 8PM ABN: 12 646 353 559 Your Trusted Partner to Help You Find Your First Home in Dapto When you buy your first home, you are levelling up in life, and at the same time, there will be some challenges. We assist first-time home buyers through every step, so you have a seamless and stress-free journey to becoming an owner. Real Lending Solutions is here to assist you in Dapto, Wollongong, Shellharbour, Figtree, or Albion Park. How Do We Help Simplify Your Home Investment Journey Buying your first home is a huge responsibility and can be challenging. Genuine guidance on understanding government grants is essential to navigating loan options. We simplify the procedure by offering personalised solutions and advice that meet your requirements. Our experienced mortgage brokers help you analyse your financial situation and calculate your borrowing capacity. We also help you navigate the home loan complications, which ensures you choose the most suitable option. Access first-home buyer grants and incentives to increase your savings. Personalised Mortgage Solutions Every home buyer is unique, with different goals, requirements, and financial situations. So, we provide a diverse mortgage solution that suits your specific needs. If you are looking for flexible repayment options, competitive interest rates, or low-deposit loans, we can find the perfect one for you. We have connections with a huge network of financial institutions, ensuring we can get the most favourable one for you. First Home Buyer Grants & Incentives These programs are designed to reduce your financial strain considerably and make owning a home easier. At Real Lending Solutions, we ensure you are aware of and understand these opportunities and get the most out of them. Why First Home Buyer Must Choose Us? Real Lending Solutions has been here for years, providing quality services to all customers. Due to our knowledge of market conditions and fluctuations, we have become a reliable partner in your first home-buying journey. We provide support from initial consultation to final settlement, so you can relax, knowing your dream is in safe hands. We take time to listen to your requirements and provide personalised advice. We ensure the communication is clear so you aren’t surprised when something comes up. Make Your Visions Come True! When you are setting off on your journey to becoming a first-time home buyer, Real Lending Solutions is there by your side to make everything as smooth as possible. Our expertise and experience help you gain the confidence and clarity that are essential to making the right decisions. Contact us today! Download your free guide to buying your first home