So you have been thinking, that you probably have just about enough in super to buy yourself an investment property, but how much do you really need? Is it the same as a normal home loan, where you need 5% + costs, 20% + costs, or even 30% + costs? And, can you take mortgage insurance to borrow more? Which banks will do this type of loan, and how much will it cost?
The market has changed dramatically in recent months much thanks to changes rolled out by one of the industry regulators, and with so much ongoing change, if you are thinking of borrowing in your Self Managed Super Fund, it is imperative you work with a broker that is across the changes, and how they will effect you and what you want to achieve.
Thinking about your super and your options? Call us, you have questions, we have the people, the knowledge and the resources to save you money, time and stress and get you to where you want to go faster!
Are your finances tracking like an old steam train, or zooming ahead to get you where you want to be?
Budgeting + discipline = spending money on the things you REALLY want to, but where do you start? It goes without saying, you have to have a great team working for you and with you... but what else can you do to boost your progress? And what about teaching the kids?
A few great resources, can be found here, to start getting your finances back on track and steaming ahead!
So who doesn't like to save?!? Whatever your motivation is, be it pay off the house sooner (logical), go on a well deserved holiday (increase in productivity?), or to invest in a new pair of Manolo or Armani shoes (my favourite, yet the least logical or affordable!), we can help with that!
At Get Smart Financial, we now have 3 year fixed rates from a rate saving 3.94% (comparison rate 4.64% pa comparison rate)!
Talk to us about finding the right rate for you, and how we can potentially save you thousands and get you to where you want to go faster!
# Things you should know.
*Interest rate is current as at 19/08/2015 and is subject to change. # Comparison Rate based on a loan of $150,000 for a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Credit criteria, conditions, fees and charges apply.
Get Smart Financial solutions, Australian Credit Licence Number #391237
So those that know me, know I am an Apple girl through and through, and love a little (or a lot!) of tech... Found an interesting piece from the awesome chicks at Business Chicks, with some time and money saving apps to keep the momentum going, and organised!
Which do you love?
So it is August already, and we are headed quickly to the time of year when the girls (and boys if they like!) get together to support the Cancer Council's annual Girls Night In... this year I will be holding an event on the 10th of October, and would love to see your support!
Empowering woman, prioritising our physical, emotional and mental health is something I am passionate about, and this event is the perfect opportunity to highlight how important these issues are.... Get on board, make a commitment, make a donation, make a difference!
Interest Rates are going up, but the cash rate isn't, why is this happening and what can I do to protect myself?
Why have banks started to increase interest rates?You may have seen that in recent weeks many banks have started to lift interest rates on investment loans. It might seem a strange thing to do while the official cash rates is so low, but there’s a reason for it. Here’s everything you need to know.
Many lenders including major banks such as ANZ, Commonwealth Bank and NAB have announced an interest rate rise on investor loans.
For some time there has been a lot of talk around a ‘bubble’ in property prices - particularly in Sydney real estate - and the regulators are more and more concerned about these price increases.
The Australian Prudential Regulation Authority (APRA) showed particular concern around investor lending. The regulating body recently implemented a cap on investment lending portfolios, asking banks to restrict growth in their investor lending portfolios to 10 per cent annually.
It’s this restriction that the banks are attributing the rises to their investment loan interest rates to.
Who does it affect?
As the bank’s stated, the rate rises are targeted at investment lending. The changes will affect first-home investors and potentially self managed superannuation funds that are looking at property investment. Owner occupier loans should remain unaffected by the changes.
Homeowners can take advantage of the current lending environment. There’s never been a better time to shop around for more competitive interest rates and home loan packages.
You’d be surprised what a home loan health check could do for you. It’s still possible to find more competitive loan options whether you’re a property investor or owner occupier.
Call us, you have questions, we have answers.
Rachael Bland – Founder & CEO