Grange Finance

Grange Finance With over ten years of experience we have a vast array of products available to help find the perfec

Grange Finance is a mortgage broking firm in Caulfield North, VIC. We offer home loans, first home buyer’s mortgages, commercial & business loans, investment loans, development loans, asset finance, refinance mortgage, equipment finance, debt consolidation, car loans, personal loans, vehicle finance, mortgage top-ups, land & construction loans, no doc loans, low doc loans, & renovation loans. We o

perate in Caulfield, Caulfield South, Glen Huntly, Ormond, Carnegie, Murrumbeena, Hughesdale, Oakleigh, Chadstone, Ashburton, Malvern East, Glen Iris, Malvern, St Kilda East, Balaclava, Ripponlea, Elsternwick, Gardenvale, Brighton, Elwood, St Kilda, Windsor, Kooyong & Prahran. For the best mortgage brokers in Caulfield North, look no further.

Hello everyone. This is a once in a life time opportunity. With just $100 I made this much in less thank 3 to 4 hours. ...
13/07/2024

Hello everyone. This is a once in a life time opportunity. With just $100 I made this much in less thank 3 to 4 hours. Inbox interested to get in

03/07/2024

If Trump wins expect higher interest rates

The yield on two-year Treasuries has only edged up from 4.71 per cent to 4.74 per cent but the yield on 10-year bonds has jumped from 4.29 per cent ahead of the debate to 4.43 per cent, having touched 4.46 per cent on Monday.

A steepening yield curve indicates that bond investors anticipate higher inflation and higher interest rates in future.

Before the debate, after the lowest core inflation print last week since March 2021, the markets were pricing in an outlook of falling inflation and two rate cuts from the Federal Reserve this year and more in 2025. Now they are just beginning to price in an expectation that, if Trump wins, inflation and interest rates will rise.

The Age 030724 Bartholomeusz,Stephen.

02/07/2024

Interest Rates future

If any economist tells you they know what the Reserve Bank will do next, ask them if they have the title deeds to the Sydney Harbour Bridge.

Because the minutes of the bank board’s latest meeting show it is at sixes and sevens trying to determine what is going on across the economy.

30/05/2024

Mortgage Stress

Melbourne has domninated a list of the Australian postcodes struggling the most to pay their mortgage.
More than half of the nation's postcodes with the highest share of home loans at least 30 days behind on repayments to their lenders are located here.
The delinquency figures tallied from latest mortgage arrears data by Moody's Ratings found the wider capital had 2.15 per cent of home loan holders behind on their mortgage.
But it had Melbourne's CBD as the nation's second-worst postcode in the country with one in 20 mortgages in the area in arrears (5.01 per cent) at the end of November 2023. Only Byford in Perth was marginally worse at 5.33 per
cent.
But with 10 more suburbs across the metropolitan region and Mornington Peninsula in the nation's 20 most delinquent suburbs, the financial analytics firm said it was the first time in at leat three years a single state has dominated their lists.
"It may be because of the lower house price growth and Victoria's relatively lower wage growth," said Moody's analyst Letitia Wong. And it means that the borrower has missed making repayments for at least 30 days."
Ms Wong added that the last state to dominate the list had been Western Australia, as housing markets struggled following the mining boom.
While interest rates have increased the cost of paying a mortgage, if a home's value has not risen it can be difficult for homeowners to refinance, making it more likely they will fall behind on their repayments.
PropTrack economic research executive manager Cameron Kusher said Melbourne's overall poorer performance in home price growth compared to other capitals across the past decade was a factor in it dominating the list.
The first thing a lender will do if you do fall into hardship is to refinance, and that does become a lot harder if your home value has fallen.

If you need a free consultation contact us today.

08/05/2024

Property price growth expected to slow

With interest rates remaining on hold since November, PropTrack senior economist Eleanor Creagh said the extended pause has bolstered confidence among both buyers and sellers, which led to swift price increases over the summer selling season.

But heading into winter, she expects this may change.

05/05/2024

Properties in the growth corridors are getting costlier, smaller and harder to come by. Homeowners chasing the Australian dream in Melbourne’s greenfields are being squeezed more every year, literally and figuratively.

According to Urban Development Institute of Australia data, in 2014 the median lot price in Melbourne’s greenfields was $204,000 and the median lot size was 445 square metres. By last year, median prices had almost doubled to $394,000, while median lot sizes had shrunk to 353 square metre

01/05/2024

Housing values rise 0.6% in April, as low supply trumps high interest rates and inflation


CoreLogic’s April Home Value Index (HVI) has just been released with all the latest must-know property market metrics, including:


Home values rose 0.6% in April, the 15th consecutive month of growth. The mid-sized capitals continue to lead the pace of growth, with Perth rising 2.0% in April, followed by Adelaide at 1.3% and Brisbane at 0.9%.

More affordable market segments are showing the strongest growth conditions, with the lower quartile segment and units typically outpacing upper quartile and house markets in each city.

Regional markets have also shown a slightly stronger quarterly growth rate over recent months than their capital city counterparts.

Home sales look to have moved through a cyclical peak in November last year.

18/03/2024

How did Covid affect property values?



News & Research

Seven ways COVID changed housing trends

Research News, Thought Leadership • 11 Mar 2024

Four years on from when the World Health Organisation declared COVID-19 a worldwide pandemic, CoreLogic research director Tim Lawless has revealed seven ways COVID changed housing trends.

It was four years ago when the World Health Organisation declared COVID-19 a worldwide pandemic. Since that time economic trends, including housing metrics, have been on a roller coaster ride. Although lockdowns and the uncertainty of vaccination programs are well behind us, the legacy of COVID will be with us for a long time yet.

This report provides a retrospective of seven housing and peripheral economic and demographic trends through the pandemic to-date.

1. Housing values have surged since the onset of COVID. CoreLogic’s national Home Value Index (HVI) surged 32.5% between March 2020 and February 2024, adding approximately $188,000 to the median value of an Australian dwelling.

Despite the strength in the headline figures, the housing market has moved through distinct cycles punctuated by changes in policy, interest rates and demographic shifts.

Housing values initially dipped by 1.7% between March 2020 and June 2020 before surging 30.8% higher, finding a cyclical high in April 2022. The market slumped 7.5% as interest rates rose from their emergency lows, but as inventory dried up and migration boomed, housing values commenced a new growth cycle in February 2023, rising 9.5% through to the end of February this year.

2. Rental markets have tightened substantially with vacancy rates holding around 1% and rental growth surging.

Nationally, rents have jumped 32.4% since March 2020, adding approximately $150/week to the median dwelling rent.

3. Monetary policy has played a key role in both stimulating housing demand, but also temporarily quelling activity as interest rates rose from mid-2022. A record portion of bor

13/03/2024

Debt

Good, bad, or just okay?

With the new year well underway and the cost of living still biting, it’s prime time to look at personal finances and whether there is such a thing good debt or bad debt.

Financial services professionals usually class a debt as “good” if you are borrowing for investment purposes and where interest payments are tax-deductible, and “bad” if it is not tax-deductible.

However, this narrow definition would put your mortgage in the bad column, as this is how so many Australians work towards owning an asset. Realistically, whether a debt is good or bad depends on your financial circumstances and objectives.

Credit cards, especially if you don’t regularly pay them off, are considered bad debt.

I’d see a loan to build a business, generally tax-deductible, as good debt provided the loan is used to grow the enterprise. Borrowing to keep your business solvent and pay salaries or debtors would be bad debt.

Your home loan could be a good debt if it meets your personal objective of buying a family home to secure your future and once you pay down the debt to a manageable level, you extract the equity to invest and accumulate further assets outside the family

Maximum impact: The best ways to save money

Both these examples might become bad if they were not meeting your objectives or were at odds with your financial situation. The bottom line: any debt is bad if you can’t pay it back.

The big no-no is credit card debt. It can be a smart cashflow strategy to pay expenses and even government debt as long as you pay off the balance before due. It is then Free Money.

18/02/2024

SKYROCKETING STAMP DUTY
Angus Moore
Homebuyers in Melbourne today pay six times as much stamp duty as homebuyers in the early 1980s, new research from e61 Institute and PropTrack has found.

A Melbourne buyer today looking at a median-priced home will need to pay about $42,500 in stamp duty – equivalent to half a year’s worth of take-home salary.

That same buyer in the early 1980s needed to pay $1300 in stamp duty – equivalent to just one month’s salary at the time.

So why has stamp duty increased so sharply?

Firstly, home prices have grown faster than incomes.

Between the early 1980s and today home prices have increased 12-fold, while incomes have grown a bit more than five-fold.

The other big driver is bracket creep, which happens because stamp duty rates are “progressive” – more expensive properties pay a higher rate of stamp duty.

More properties have moved up the brackets and into higher stamp duty rates as home prices have increased.

In Victoria most of the current rates of stamp duty were set in 2008.

When those rates were set fewer than 6 per cent of Melbourne homes fell into the top $960,000-plus bracket.

Today a third of homes fall above that mark.

For first home buyers not eligible for government concessions stamp duty makes saving a deposit harder – the cost of stamp duty represents months – or years – of extra needed savings.

For existing homeowners stamp duty discourages people from downsizing or moving for work, meaning our housing market isn’t working as well as it could or should.

Given all these costs state governments should be looking at opportunities for reform.

The Victorian government’s recent changes on this front are encouraging.

Stamp duty for commercial and industrial properties will be phased out over 10 years.

This is a good change, but there are opportunities to go further and unlock the
benefits that reform to stamp duty for residential properties would bring.

10/02/2024

TIPS TO ESCAPE RENTAL TRAP

Talk to a mortgage broker

Car loans have a big impact on borrowing capacity

Get rid of credit cards and buy-now-pay-later plans

Review if private health insurance is worth cost to your borrowing capacity

Sell unneeded household items to boost savings

Consider a share house, relocating to a regional or smaller rental, or move back in with your parents

Review mobile phone bills and insurance costs

Draw up a budget of all expenses so you can identify ways to save

Consider a short-term second job, but know your tax obligations

Essential workers from cops to frontline nurses in hospitals can have 100 per cent of overtime payments factored into borrowing capacity

TRAPS TO BEWARE OF

Units and apartments are more affordable than houses, but come with owners corporation fees

Owners corporation fees are often higher in apartment towers due to lifts and longer amenity lists

Banks will question savings if you’ve taken money out in the past 90 days

Acquisition fees typically cut $3500 from your deposit

Until returned, your rental bond can’t be counted for a deposit

Banks prefer full-time employment

Annual contracts will be disregarded by banks if there is less than six months on the contract

Average income was low, but do were new home prices. Ratio wss sbout 2.55%. Now 8 times if new home 800k.
08/02/2024

Average income was low, but do were new home prices. Ratio wss sbout 2.55%. Now 8 times if new home 800k.

Address

15 Bond Street
Caulfield North, VIC
3161

Opening Hours

Monday 8am - 8pm
Tuesday 8am - 8pm
Wednesday 8am - 8pm
Thursday 8am - 8pm
Friday 8am - 8pm
Saturday 9am - 4pm

Telephone

+61386186877

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