HOW Strategy Group

08/08/2023

What’s the difference between a secured or unsecured personal loan

When looking at your personal loan options, you'll find two main categories: secured and unsecured. Your choice can greatly impact your interest rate and the loan application process.

Unsecured personal loans
Unsecured loans are based on your creditworthiness without needing collateral. They're versatile and can be used for anything from home improvements to vacations. Due to the lack of security, these loans often carry a higher interest rate. However, they offer increased flexibility, with a faster application and funding process, as no asset details are required.

Secured personal loans
Secured loans, on the other hand, are backed by an asset like a car. The asset serves as collateral, allowing lenders to lower interest rates due to the reduced risk. If you default on payments, the lender has the right to seize the asset and sell it to recoup the loan amount.

If you would like to learn more, call us to speak to one of our mortgage experts

31/07/2023

Finance & Property Insights - https://mailchi.mp/f4cc5af8b728/finance-property-insights-6651007
Pros and cons of selling a property off-market
When it comes to selling a property, there are a range of options available to homeowners. While most vendors choose to sell by private treaty or auction, it’s also possible to sell a property off-market. While an off-market sale might be an appealing prospect for some vendors, it’s important to weigh the pros and cons of all potential approaches.

19/07/2023

5 things to do before your fixed interest rate rolls over

2023 is expected to see large numbers of borrowers rolling off their ultra-low fixed-rate mortgages taken out in 2020. Proper preparation can effectively help you navigate:
1. Know your mortgage term end date
The first step to take control of your mortgage is understanding when your current term ends. Inaction may result in a default switch to the lender's standard variable interest rate. Be proactive - find out before the change and give us a call.
2. Advantages of early rate locking
Depending on your lender, you might be able to lock in a new rate before your fixed rate term ends. While this provides protection against potential future rate rises, a fall in rates might mean you're stuck with the locked rate.
3. Talk to us, your mortgage broker
Use our knowledge - we will provide valuable insights into the current market and offer various lending options. We can help you compare your existing mortgage and help you make informed decisions.
4. Budget for higher repayments
Budgeting for a probable rise in mortgage repayments is critical in the current environment. Use a home loan repayment calculator to figure out new repayments at the current interest rate, then factor these extra costs into your household budget.
5. Avoid the loyalty tax
Staying with the same lender for convenience can lead to higher fees and interest. Regularly review your mortgage with our help can ensure you avoid unnecessary costs.

11/07/2023

Finance & Property Insights - https://mailchi.mp/464e5e748295/finance-property-insights-6279655
Today's topics:
* Negotiating a property purchase
* 5 things to do before your fixed interest rate rolls over

26/06/2023

Finance & Property Insights - https://mailchi.mp/4d26efe65b44/finance-property-insights-6277571
Property market confidence returns with inspection numbers up 78%
Despite rising interest rates, homebuyers are returning to the property market, with inspection attendance numbers jumping 78% over the past fortnight according to recent data.

Upside Realty found a significant increase in open home attendance across Victoria, New South Wales and Queensland. This rise in numbers comes on the back of tight stock levels and increasing demand.

13/06/2023

Finance & Property Insights - https://mailchi.mp/d847e873d79c/finance-property-insights-6276847
5 EOFY tax tips for property investors
The end of the financial year is always a busy time for property investors, however, with the right preparation and understanding, you can make the most of your available deductions. Here are five tax considerations for property investors as we head towards June 30.

29/05/2023

Finance & Property Insights - https://mailchi.mp/47b03c835d97/finance-property-insights-6275939
Despite property experts focussing on the larger capital cities of Sydney and Melbourne, new research has found that it has been the smaller cities of Hobart, Adelaide and Canberra that have been the strongest-performing property markets over the past two decades.

11/05/2023

Property conveyancing is a critical part of any real estate transaction, however, many people make the mistake of trying to go it alone, which can lead to serious problems down the track.

Conveyancing involves the legal transfer of ownership of a property from one person to another, which is usually the final part of the process. While it may not be as visible as the role of real estate agents, it’s just as important.

Here are five reasons why you should use a lawyer or conveyancer for your real estate transaction.

With the right help and guidance, the process of buying a home can be incredibly rewarding. It all starts with a simple phone call

25/04/2023

We will remember them.

19/03/2023

16/03/2023

Auction clearance rates turn the corner
Despite a lower volume of properties, auction clearance rates across Australia remained surprisingly strong, according to CoreLogic.

Sydney's preliminary clearance rate for the week was 71.8 per cent, which was only 1 percentage point below last year's rate of 72.6 per cent. Melbourne also saw a slight increase, with a preliminary rate of 68.2 per cent compared to last year's rate of 67.6 per cent. Adelaide experienced the most significant jump, with a clearance rate of 88.6 per cent compared to 84.8 per cent in the same week in 2022. However, Brisbane was slower than the other major cities, with a preliminary clearance rate of 64.8 per cent. This is down approximately 6 percentage points from last year's rate of 70.6 per cent.

While the volume of properties was lower than last year, the strength of the clearance rates is a positive sign for the housing market, especially in the wake of rising interest rates. The strong bidding and high clearance rates suggest buyers remain confident in the long-term prospects of the property market.