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Absolute Advantage

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Australia
Bilgola, NSW
Absolute Advantage

Absolute Advantage is a brokerage run by Bulelwa Freer (author of Romancing Your Money) specialising in un-biased, hassle-free loans. What you will hear is ?

Absolute Advantage Financial Solutions is a mortgage broking company with a strong focus on our clients' needs. Before you say, "Blah, blah, blah", let's be honest with you. We started like any other business with a focus on doing business and succeeding in what we were doing. It turned out that the field we had ventured into had the steepest learning curve for small individual start up companies.

People want the comfort of well established and widely known brands when they are buying the most expensive item they will ever buy. Consequently, in our first year, we saw mostly people who were not having much success with those companies. What that means is that their needs and circumstances did not fit neatly in the 'tick a box' mould. Necessity is the mother of invention. Of necessity, we developed a "problem solving" mindset. So you will never hear "No", "It cannot be done" or "We cannot help you" from us. If you do A, B, and C, we will be able to move ahead? In order to do so, you may need to save a bit more, get past the employment probation period, reduce credit card balances, for example and we get back together in two, three months or whatever time frame you need to accomplish these goals. We also outline a plan and strategies to accomplish these in a timely and efficient manner. So, we are now part of your team working together with you to get to your ultimate goal. Yes, we do address all the other common requirements that home buyers are most concerned about. We will do loan and mortgage comparisons for you so that you can make an informed decision. We will answer your questions such as? How much can I borrow?? We have access to a range of mortgage calculators, such as home loan repayment calculators, interest rate calculators, offset facility calculators, comparison of home loan lenders offerings? We will even do a Cost analysis assessment for you, for an accurate budget. Property Solutions: We provide an integrated service that includes a number of relevant professionals, our alliance partners to facilitate property purchase from sourcing a property through to settlement and tenanting of the property if for investment. Absolute Advantage Financial Solutions, through strategic alliances such as accounting, legal, property management, quantity surveying for tax compliant depreciation schedules, and property inspections, will put you in touch with companies who are in a position to offer discounted rates for these services. Where we derive a financial benefit as part of the referral process, you will be notified in writing when we refer you to the relevant professional. The decision to contact them or not is completely yours. You also need to do your own due diligence to satisfy yourself that your stated needs are adequately addressed.

20/01/2024

You have to pay a deposit for a home loan right? Not anymore. You can borrow up to 20% deposit for your home loan and the 80% leftover with Absolute Advantage. Curious? Ask us how.

11/10/2022

Help me launch our Humility Project in the Borrowing arena.
Flaunt your Financial Flaws. Don't Hide them!
That sounds counterintuitive right.
Fear Not. That is the Surest way to get the Bank to say Yes even if they normally wouldn't want to.
Let us help you with that.
Or do you want to join this particular pack?
According to Fabian Cotter's article published yesterday in MortgageBusiness:
“A damning new report has shone a light on the growing issue of multifaceted and complex loan-seeker fraud in the domestic mortgage market.” Almost one in five (19 per cent) Australians believe it’s okay to tell a “white lie” and report having less debt than they actually have in a financial service or loan application.
That is definitely Not Smart!

02/10/2021

Whilst parts of Australia are still in lockdown, it won't be long till things change. The experts say revenge spending is going to happen as restrictions eases. Get yourself ready to open up your business, get in your car to go places you haven't been and get yourself ready for the christmas orders that are coming sooner this year.

Business finance or Car Loans are accessible to those who need it.
Absolute Advantage Financial Solutions will do all the heavy lifting for you and ensure you have the right solution for personal or business use.
Which loans are eligible?
Business Loans and Consumer Car Loans
With over 80+ lenders and more than hundreds of different products, there are solutions to cater for different types of customers. The most important part is ensuring you are guided through the entire process seamlessly and fast.
Whilst access to finance is still strong, the current environment doesn’t guarantee things will stay the same. Coupled with the fact it’s harder to find good vehicles at the moment, it’s important that you sort out your finances now and be ready to buy.
To explore your options, please contact Bulelwa Freer
Call: 0414 973 236
Email: [email protected]

15/07/2020

Did you know if a home loan interest rate varies by 0.5% (on a $350K loan), that's a saving of $41,875.00 over the life of the loan?

My free loan comparison service tells you how much you could save!

Message me for a free check up today! PM me...

13/07/2020

Pros and cons of debt consolidation with your mortgage

If you are struggling to keep up with multiple credit repayments – credit card, car loan and mortgage – one option for simplifying the issue is to consolidate all the debts into your mortgage. However, there are also potential negative consequences for consolidating all your other debts with your home loan, so you should consider this strategy carefully and ask for independent advice before making a decision.

So what are the pros and cons of debt consolidation with your mortgage?

Pros

Shifting from multiple payments to one payment
When you consolidate your debt, you only need to make one regular payment, so your finances are more organized and you don’t have the stress of doling out minimum payments to multiple lenders. Once you have streamlined your repayment plan, you may even be able to increase the amount of that one repayment.

Lower interest rate
Multiple debts is equivalent to multiple interest rates, yet when you consolidate all these debts, you are only paying interest on one loan, which is generally at a lower rate than before. This is an automatic saving. With one interest rate and one regular payment, your monthly payment will probably be much lower than usual, giving you the option of increasing the amount of your regular repayment to get on top of the loan faster.

Cons

Reduces the equity in your home
Unlike your car and the items you purchase with your credit card, your home is an investment which will appreciate in value. Your goal is to increase the equity in this asset for your own financial security. Yet when you combine your home loan with your other debts, you are reducing your equity without any increased value of assets to balance it out.

Risking your secured loan
Another difference between a mortgage and your other debts is that a mortgage is a secured debt – if you can’t pay it, the lender can take something from you in lieu of the debt. In contrast, if you cannot make your credit card payments, it will affect your credit rating and your ability to get another credit card but it won’t have a significant impact on your overall security.

Consolidation loans are also secured loans. When you consolidate all your debts into your home loan and then cannot manage to make the repayments, your home is at risk.

More costly in the long term
While your minimum monthly repayments may be reduced in the short term, your long term debt may be increased. For example, if your car loan was taken over a five year term and then consolidated into your 30 year home loan term, then the interest on the original car loan will actually be increased so you are ultimately paying more for your car.

Debt consolidation can be a valuable tool for some borrowers, but can be difficult for others. Contact us today if you would like expert advice on whether debt consolidation is the right strategy for you.

12/07/2020

Do something Today that makes you Happy

11/07/2020

Which is better?

Plan A - Buy a home
Or
Plan B - Buy an investment property and rent

10/07/2020

Pros and cons of a reverse mortgage

A reverse mortgage allows a home owner aged over 62 to borrow against their home’s equity while still maintaining ownership of the home. You can receive a lump sum or regular payments, and the loan is due to be repaid when you die, sell the residence or move permanently from the residence. The amount of the loan will depend on the value of your home, current interest rates and your age – the older you are, the more you will be entitled to borrow.

So what are the pros and cons of a reverse mortgage? And what factors do you need to take into account if you are considering this option?

PRO – A great source of retirement income
Your home is your largest personal asset, and you can channel this asset through regular payments. If you are on a small fixed income through your pension, it can make sense to release some additional income through this asset.

CON – Value of your property is reduced
As these payments are being made from the equity in your home, so you gradually lose equity in the property. This means that your heirs will inherit a property of reduced value when you die. Alternately, if you need to sell the home to move elsewhere (such as into an aged care facility) you will need to repay the loan while still having enough equity to fund your next home.

PRO – No monthly mortgage repayments
While you are living in the home you are only required to pay the costs of taxes and property maintenance.

CON – High fees
Fees are usually higher than a traditional mortgage, further reducing the equity in your home.

PRO – You can continue living in the property and leave it to your heirs
One of the myths about the reverse mortgage is that you can be evicted from the property if the loan exceeds the property value. This is not correct. You can live in the home for as long as you wish and still leave the home to your heirs but they become responsible for repaying the loan balance, either by refinancing through a traditional mortgage or selling the home.

CON – The loan is due when a “maturity event” occurs
Maturity events include the death of the last surviving borrower, or when the home is no longer your principal residence or you vacate the property for more than 12 months. It will also become due if you fail to maintain the property or fail to pay the relevant taxes or insurance. This means that the loan could become due during a crisis time for your family when you actually need financial resources rather than having to confront a huge loan repayment.

While a reverse mortgage can be a fantastic option for some retirees, it is not for everybody and you should never embark on this type of financial commitment without independent advice. Contact us today if you wish to discuss whether a reverse mortgage is the right option for you.

08/07/2020

🧐 Top tips for young property investors

It is possible for people to launch into the property investment market in their early twenties – in fact, this is a great time to start, when you are first launching into your career and don’t yet have any other financial responsibilities such as a family to support.

However, buying an investment property can never be an impulse decision – it takes self-discipline and applied knowledge to start building a profitable investment property portfolio.

Set a budget and save
The first step of course is to start saving for your first deposit, which is usually at least 20% of the purchase price (can be lower, check with your broker). You will need to be focused and realistic, and quite single minded in order to save a sufficient amount. Your best option is to set a budget and create a clear financial plan that will help you remain focused and prepared once you do buy your first property.

Think long term
While some of your peers will be looking into short term gratification – visiting pubs and night clubs, booking overseas holidays or buying a new car - you need to establish a mind-set that focuses on the long term rewards of building your investment portfolio.

Learn from the experts
While you are saving your deposit, take this time to educate yourself about the property investment market and the best type of property for your first investment. Read articles about property investment and monitor the real estate section of your local newspaper, so you can build a vision of an affordable and profitable investment property. Consult local agents and mortgage brokers as soon as possible so they can offer their insight into the market. Seek advice from a professional accountant, who can oversee your savings plan and advise you on your first home loan.

Consider a family guarantee
If you have the option, you could ask a family member to act as guarantor of your bank loan. The guarantor allows the equity in their property to act as additional security for your home loan. This strategy could potentially reduce the amount of deposit you need to save. You can split the loan into two portions, so your guarantor is only guaranteeing one portion of the loan. That way, you can pay off that portion first, so you can release your guarantor from the agreement as soon as possible.

Invest, don’t gamble
Gambling is a game of chance where you can hope to win big but you are perhaps more likely to lose it all. Investment is based on knowledge and experience, so you make decisions that will be profitable in the long term. Learn everything you can about the property and the market, so you can make objective, beneficial decisions.

06/07/2020

Myths about mortgage brokers

Wary about engaging a mortgage broker to see you through the loan application process? There are numerous myths about mortgage brokers that have put people off using their services. Here we debunk some of the more common myths so you can see how a mortgage broker can help you secure the best possible loan for your next property purchase.

1. Mortgage brokers are aligned with one particular lender
Many people believe that mortgage brokers are simply a “front” for a specific lender, so their job is to lure you to that lender. In fact, a mortgage broker is fully licensed, and relies on their knowledge of the whole mortgage market to provide you with the best mortgage for your individual needs.

2. Mortgage brokers will charge you for their time
As the client, you do not pay the mortgage broker – once you are approved for a loan, the lender pays a commission to the mortgage broker. The commission is calculated according to the size of your mortgage.

3. Getting a home loan through a mortgage broker costs more because of commission
The mortgage broker’s commission is a percentage of your home loan, so it is not an additional cost for you nor is it paid by you in any way. It has no effect on the fees or interest rates you pay on your mortgage.

4. Mortgage brokers deal with shady lenders
While mortgage brokers have connections with smaller lenders whose names might not be familiar to you, they generally also deal mainly with the major lenders with high-profile reputations. Many of the smaller lenders are affiliated with the larger banks, or they could simply be low profiles businesses with a long-standing reputation. A mortgage broker relies on the professionalism of the lender to maintain their own business reputation and income, so even the smaller lenders will have a strong reputation within the industry.

5. Mortgage brokers are only for people with bad credit
Another pervasive myth is that only people with bad credit need assistance from a mortgage broker. While mortgage brokers can certainly assist someone with bad credit find a suitable loan for their circumstances, they can also help anyone who wishes to save time and money by sourcing the best loan possible for their requirements.

6. All mortgage brokers are fully licensed
Unfortunately, anyone can call themselves a mortgage broker, but only a licensed mortgage broker is qualified to give you advice and assistance in securing a loan. A licensed mortgage broker should have the license on display in their office or on their website – if they do not, you are entitled to ask them to confirm their qualifications.

7. A mortgage broker will force you to refinance with a new lender
If you are happy with your current lender, there is no reason for you to refinance your loan with someone else. However, your mortgage broker could renegotiate the terms of your current loan on your behalf and perhaps get you a better deal.

Contact us today if you need independent assistance in finding the right home loan for your needs, whether it is for an existing property or an upcoming purchase.

05/07/2020

Where's your dream holiday destination?

04/07/2020

How To Make An Offer In Writing To Buy A Property

Here is an email template you can use to make an offer on a property you are interested in buying.

======EMAIL OFFER TEMPLATE======

To whom it may concern,

I would like to make an offer on _______St ______ for $……………………………..

My preferred settlement time would be ……………… Weeks.

This offer is subject to finance approval, my solicitor reviewing the contract and any Strata reports and or building and pest inspections I may carry out.

======= EMAIL OFFER TEMPLATE======

Best of luck... and if you need any ideas on finance, 2nd opinion or a pre-approval to go shopping... message me today for a complimentary chat.

Address

Bilgola, NSW
2107

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+61414973236

Website

http://www.absoluteadvantagefinancial.com/

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