Sharon Clarkson Senior Mortgage Broker

27/06/2024

Are you looking for help with your home loan?

Next week is the new financial year and I am opening up my calender to take on new clients. If you are looking to borrow money and don't know where to start, as a Senior Mortgage Broker with 25 years of lending experience who covers most aspects of lending, please reach out.

My time to you is FREE of charge, and an initial assessment doesn't take very long depending on your lending circumstances of course.

Send me an email: [email protected]
Or alternatively give me a call on Mb: 0400 609 916

I would love to hear from you.

Warm regards

Sharon

07/12/2023

APPLAUSE PLEASE | Why has this taken so long?

This is what brokers have been doing for years. And I think it is why we collectively as a group, have written the largest percentage of home loans in history.

With bank branches being an expensive cost center for major lenders, the time of rethinking, repurposing staff and the archaic processes has come. This maybe a blow to the people who still have no interest in technology or unfortunately have been left behind due to age but for the future of banking, this type of thinking will be more prevalent as it is cost effective.

Dont forget, all you bank bashers, major banks are first and foremost a business. Yes they provide services to community, but they are not a community service. They have boards and shareholders to answer to as they are publicly listed companies.

| 5 min read | keep up to date with what is happening with your lender. And don't be affraid of change, attempt to embrace it, as it will save you time which is the most precious thing in the world.

S

Speak to an Expert | Mb: 0400 609 916
[email protected]

Borrowers will be able to connect virtually with a home loan banker within 15 minutes, according to a new move by a big four bank. National Australia Bank (NAB) has launched a new service that can

26/11/2023

Are you a Rate Chaser?

This is an interesting read | 3 mins

Most borrowers want a good interest rate on their mortgage, but are you a customer that must have the best or cheapest interest rate?

Here is an example of brokers seeking out a second tier lender that was offering new customers exception discount margins off the advertised interest rate. Almost 3% off which is unheard of in my 25 years broking. Only for the lender to not only increase the rates inline with the RBA over recent months but also now take back some of the discount offered initially.

My view is this, always stick with a lender that is prominent in the lending space and if the product suits your needs and the credit policy is right a 0.1-0.2% in rate difference is justified. Because at any instance the lender can adjust anything they like and in this case the borrowers didn’t end up with the cheapest rate anyway.

| Speak to an Expert | M 0400609916
[email protected]

A lender’s move to decrease its discount for existing customers has shocked brokers and their clients, with many refinancing away from the lender as a result. AMP has come under fire for reducing

05/11/2023

November Update | Predictions of a further cash rate rise this month

4 minute read

With inflation still sitting a little too high, most economists have called that a further 0.25% rate rise will happen this month.

One major lender, National Australia Bank stating borrowers have already made necessary lifestyle adjustments to absorb higher monthly mortgage repayments.

I attended a NAB zoom webinar last month in Ballina, and the lenders experts have data showing property prices for regional areas are on the rebound albeit slower than the capital cities. Business sentiments are also holding fair with the labor market holding firm with unemployment sitting in an acceptable percentage band.

Lower income earners, pensioners and the unemployed plus renters being the hardest hit with the cost of living pressures.

If I can be helpful to anyone to discuss their lending options, to either purchase or refinance please do not hesitate to reach out.

| Speak to an Expert | M: 0400609916
[email protected]

Borrowers will be in the spotlight this week with Westpac’s results on Monday, and a possible Reserve Bank rate rise on Tuesday.

05/09/2023

3 minute read | local data for Byron Bay

The latest pricing data shows even premium regional areas are feeling the pinch as house values in the cities accelerate while the regions fall behind.

04/09/2023

Cash Rate Forecast | September 2023

With all four Major Lenders agreeing that tomorrows Cash Rate decision will be to remain on hold at 4.1%. With the majority of them leaning towards this reaching the peak.

For all mortgage holders this brings a sigh of relief. Even though the hikes to date have caused some borrowers to drastically change their lifestyle arrangements.

The higher rates are here to stay for the next 12 months but with a possible downward trend from this time next year 2024.

As always, I'm here to help anyone who would like to discuss their lending options. Most lenders have changed their refinancing policy and buffer margins for serviceability as a previous post of mine has outlined. So it is still plausible to move your home loan if your current lender is not providing you with what you need.

Call or email me on the following Mb: 0400609916 or [email protected]

| SC | Speak to an Expert | 2 minute read below

Australia’s major banks have all called a cash rate pause during tomorrow’s monetary policy meeting.

04/08/2023

Economic Update | August 2023

03/08/2023

Are Interest Rate hikes coming to an end? Quick read.

One's expecting another rate hike later this year

24/07/2023

What’s your thoughts? Are you a renter, someone trying to buy a home OR own multiple properties feeling the interest rate pressures?

The thing for me, landlords are happy to pass on costs to tenants as soon as it affects them. However, we have had quite a few years of interest rates at 2%. Logic would seem that mortgage costs were cut in half, why then were rental decreases not the order of the day?

Tenants had to ask for them using COVID as the valid reason. So assuming most rents stayed the same Landlords should be either way ahead on these loans or cash flow positive for some time.

Capping rental increases will mean longer term tenants, so less turnover costs to the owner. The losers here are the letting agents or property management businesses. They take a weeks rent sometimes more to advertisements for new tenants. Any rental increase is absorbed or shared by a third party.

If an investor has longer term tenants I don’t think it’s a bad thing. I guess it depends on your investment strategy and whether you own to provide housing or to build wealth.

Let me know your view in the comments below.

| SC |

Potential rental reform action by the Andrew’s Labor government may impact investor confidence, CoreLogic’s research director said. The Andrews government recently announced that it was consider

19/07/2023

Alternate Assessment for Refinancing

With higher interest rates, moving lenders can now be more difficult when it comes to proving affordability. Even for the same loan amount you obtained in recent years.

Well great news ~ 3 of the four major lenders now offer an alternate assessment for loans that fail on affordability under normal lending criteria.

Things to note:
• New loans must be 30 year terms plus P & I repayments
• No arrears or late payments on the existing loan
• 80% LVR or less
• Existing loan must be with the current lender minimum 12 months
• No cash out other than to cover moving costs

Basically the new lender will allow a 1% instead of the normal 3% interest rate buffer above the actual customer rate for applicable loans.

If you are having issues refinancing please reach out and see if you fit this new lending scenario.

Speak to an Expert | M 0400609916
[email protected]