BumbleBee Finance

20/10/2019

Update on First home buyer deposit scheme...

While it could shave years off the time taken to save for a first property, fewer than one in 10 first-home buyers will be able to access the new scheme.

02/10/2019

When you go to send a mate some dosh for your dinner this weekend, maybe think twice about labelling it as “Coins For Caps”, “ISIS”, or “BIG FU$& MONEY” because I can guarantee you that it’ll turn around and bite you both in the ass eventually.

“Good Clean Cash”, “Money For Mum”, and “Puppy Treats” are probably still okay.

We’ve all done it. It’s a hell of a prank, the ultimate joke. The absolute scenes when a mate asks you to fling them some money for dinner or beers and you chuckle to yourself before labelling the $20 transfer as “Dildo Heaven”, “Rusty Spoons” or “Warwick Capper Weekender”. Well, it ...

04/06/2019

They will pass it on....slowly.
Not too sure about the next one!

30/05/2019

For all the GOT fans...life goes on!

23/05/2019

The FHSS scheme (First home super scheme) allows you to save money for your first home inside your superannuation fund. First home buyers have up to 30th June 2019 to make contributions this financial year and pay 15% tax as opposed to the marginal tax rate. It’s a no brainer if you’re earning more than $37,000 per year and saving after paying tax at 32.5% ! Get in touch with us on 0424952673 to assess your situation and see if this is suitable for you.

21/05/2019

The increased Instant Asset Write Off of $30K is top of mind for many businesses following the announcement in the 2019/20 Federal Budget. Find out if you’re eligible – get in touch to understand how it could work for your business.

13/05/2019

For those of you who read about the Coalition's FHB Policy announced by the PM yesterday and matched by the Labor party which is positive news for First Home Buyer’s.

Short answer to how it will work is the National Housing Finance and Investment Corporation (NHFIC) will essentially act as a Guarantor (replacing the need for a Parental Guarantor), thus providing additional security to the lender and therefore eliminating any LMI charge.

Under the scheme, clients will apply to NHFIC who will assess their eligibility as FHB's (and I'm guessing to prove they have 5% Gen Savings), and then NHFIC will issue them an Authority/Approval which will be passed to the lender, and the lender will then add NHFIC as a Guarantor to the loan.

It seems like a great idea because it will only cost them money if clients default, and we all know defaults are pretty low - apart from specific locations.

They are looking to use non-bank lenders as their primary partners for this to generate increased competition to the big 4.

Here's a link to the Liberal Media Release.

First home buyers are set for a significant leg up with a new initiative from the Morrison Government to slash the size of a home loan deposit. It can take nine to 10 years for an average household to save a deposit. We want to help Australians realise the goal of buying their first home by cutting....