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My Birthday Blog!

31/7/2020

 
I wanted to take a minute to appreciate and celebrate my birthday here on the blog :) 
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I had a little cake... looks like the start of a bush fire, but... CAKE!!!!
When the team take my birthday to the next level and surprise me with this!!! ??????
Super happy to be 21.... again!!!

Stamp duty has abolished for new homes under $800,000

29/7/2020

 
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​On Monday, 27 July it was announced by NSW Premier Gladys Berejiklian, that from 1 August, the NSW state government will temporarily axe stamp duty for first home buyers purchasing newly built homes that are valued at under $800,000 (up from the previous limit of $650,000).

This is to support approximately 6,000 first home buyers plus boosting the construction industry. This move will surely help in creating jobs amid the COVID-19 crisis.

The state government will also raise the threshold for stamp duty on vacant land.

The adjustments will last for 12 months and only applies to first home buyers purchasing newly built homes and vacant land.

Estimate from the federal government would be approximately 27,000 grants across $10 billion building projects, supporting 140,000 direct jobs and 1,000,000 related jobs.

Interested to find out more? Let's have a chat!
let's chat

Home Loan Application turnaround times as of 27th July 2020

28/7/2020

 
With the rapid increase in the number of mortgage lenders offering home loans to consumers, the process is even more complicated than in years past.

Fortunately, Get Smart Financial is here to help.


We have regular contact with a wide variety of lenders, some of whom you may not even know about. Working with us can save you time!

Purchasing a property can be a life-changing experience but the home loan application process can be really daunting if you’re new to the process. 
 
We can prepare your application on your behalf and mitigate the risks in your request. See below banks for the current ​turnaround times.
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Note: Recently updated SLAs are highlighted in Red
​
If you have any questions, book in a time with me below.
let's chat!

Refinancing during COVID-19

21/7/2020

 
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Reviewing your lending, particularly in the year that has been thus far could be ideal means to minimize expenses, boost savings, and provide you financial parachute fund at a time of uncertainty such as the current. This could save you some money or even make money, depending on your strategy,and importantly, could help you sleep a little better at night to know that you have your finances under control, and have a contingency plan in place.

Tips:
Consider asking what features you really need, and those you perhaps don't which could save you thousands! The official cash rate is at its lowest ever in 60 years and interest rates are at an all-time low. Your current rate may not be the most competitive at this point even if your mortgage is just over two years old. A very slight rate change could trim your monthly repayments instantly, improving your liquidity in these times of financial stress.

Banks at this point are competing for customers. A different lender may offer you better features on your loan that you couldn’t get previously,  like an offset account, additional repayment and redraw facilities, an interest-only option or a fixed or split-interest option. If your current lender can’t offer you what you want, it's worth looking for mortgage options that do, and at the best possible rate!

Shorter loan terms

If you have a steady income despite the COVID-19 crisis, this may be the best time to refinance to a lower interest that could pay off your loan faster with the same repayments. 

With refinancing, you can switch to a mortgage option with a shorter term, maintaining the same repayment amount.

Debt consolidation

If you're currently juggling a lot of non-mortgage debts, making it hard to pay, manage and track bills and payments, you might want to consider consolidating payments.

If you bundle multiple payments into your home loan, you'll have a clearer timeline on when you can be debt-free, plus you might have lower interest rates than other rates like credit card loans.

Refinancing costs

Despite the benefits, there may be costs involved in refinancing, depending on your loan and lender. Example costs and fees could be exit fees, government charges, or Lenders Mortgage Insurance.

It is best to consider getting a piece of advice from a mortgage broker if you plan to refinance. 

At Get Smart Financial, we can help you with refinancing, so you can save more, and make the odds be in your favor.

Book a meeting so we can discuss!
let's chat!

Home Loan Application turnaround Times as of 13th July 2020

14/7/2020

 
With the rapid increase in the number of mortgage lenders offering home loans to consumers, the process is even more complicated than in years past.

Fortunately, Get Smart Financial is here to help.


We have regular contact with a wide variety of lenders, some of whom you may not even know about. Working with us can save you time!

Purchasing a property can be a life-changing experience but the home loan application process can be really daunting if you’re new to the process. 
 
We can prepare your application on your behalf and mitigate the risks in your request. See below banks for the current ​turnaround times.
Picture
Note: Recently updated SLAs are highlighted in Red
​
If you have any questions, book in a time with me below.

let's chat!
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