Coffs Coast Home Loans

24/05/2024

Have you heard about negative gearing? Here is a simple explanation of how it works

01/04/2024

The term 'Drawdown' refers to the process of accessing funds from your home loan, allowing you to take out money as needed for various purposes such as construction, renovations, or investment opportunities.

28/03/2024

A great night was spent Nibbles & Networking on Wednesday night. My first time attending and they made me feel very welcome!!

25/03/2024

19/03/2024

RBA holding steady for another month!

The RBA still carries doubts about when the target band for inflation will be reached.

18/03/2024

Did you know that the Best Interest Duty Law does NOT apply to banks (and/or bank staff) who can ONLY provide a product from their respective bank/s!!

Just another reason to have a chat with your local mortgage broker!

13/03/2024

What does it mean for consumers? Greater protection!
Did you know that lenders don't frown upon afterpay and zippay like they used to 10 years ago when it first emerged, however having these credit facilities when applying for a mortgage can lower your lending capacity. Give us a call today to find out what your lending capacity is

New legislation for the buy now, pay later industry has been released for consultation, bringing in licensing and responsible lending obligations for the first time.

11/03/2024

New weekly post!! Have you come across any mortgage jargon your not sure of??
At Coffs Coast Home Loans our aim is to make mortgages not as daunting so that you can take ownership of your new home with ease!

22/02/2024

Is it better to use a solicitor or a conveyancer?

Firstly, what's the difference?

A conveyancer helps home buyers complete all their legal requirements when purchasing a property. In addition to examining contracts for sale, preparing and lodging paperwork, and much more, they can assist you with many other tasks as well.

A solicitor can provide you with similar assistance, but the key difference is they are more familiar with the law and can handle more complex sales.

So which should you choose?

To decide between the two, consider whether your property transaction will involve complex legal issues or pose major risks or if you will need legal representation at some point down the line.

Then a solicitor might be the right choice. The conveyancer can handle the work for you if your property transaction appears to be straightforward and is likely to be less expensive than a solicitor.

Get in touch with your local mortgage broker if you want to learn more.

19/02/2024

🏡 Rentvesting, an increasingly popular approach amid current living costs and interest rates, offers a unique path onto the property ladder. This strategy allows you to rent a property to live in that's right for your lifestyle, while you own an investment property that's right for your budget.

Looking to rentvest? Here's why it might work in your favour:

✅ PROS:

1. Entry Point: Start in the property market with a smaller deposit and progress towards your dream home.
2. Lifestyle Flexibility : Enjoy your desired lifestyle while investing elsewhere.
3. Mobility: Renting provides flexibility to relocate if circumstances change.
4. Tax Advantages: Potentially benefit from tax perks with investment property ownership.

However, rentvesting might not suit everyone. Consider these drawbacks:

❌ CONS:

1. No Access to Government Schemes: First-time property buyers miss out on first home buyer schemes due to the property not being owner occupied.
2. Dual Expenses: Balancing rental and investment property costs simultaneously.
3. Occupancy Uncertainty: Lack of control over rental occupancy may lead to frequent moves.
4. Capital Gains Tax: Potential liability upon selling if property value increases.

Evaluate these factors carefully before diving into the rentvesting strategy. It's great to seek out advice from professionals! Talk to your local buyers agents to see if working with them can help you find the right investment for you.

08/11/2023

At its November Board meeting, the RBA decided to raise the official Cash Rate to 4.35%.

“Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago,” RBA governor, Michele Bullock said.

In making its decisions, the Board will continue to pay close attention to developments in the global economy, trends in domestic demand, and the outlook for inflation and the labour market. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that outcome.

Read the full Statement by Michele Bullock, RBA Governor: Monetary Policy Decision.