Eastern Financial Solutions

02/04/2024

Deposit Hurdle Gets Slightly Lower For First Home Buyers!

First home buyers are able to enter the market a little faster than a year ago, new research has found.

At a national level in February, it took 4 years 9 months for a first home buyer to save a 20% deposit on an entry-level house, compared to 4 years 11 months the year before. For an entry-level unit, the time to save a deposit was 3 years 5 months – one month faster than the year before.

Domain classified an entry-level property as one ranked at the 25th price percentile (with the 1st percentile being the cheapest home and the 100th being the dearest). Domain's calculations assumed that first home buyers were a couple aged between 25-34, earning an average salary for someone their age.

The reason that first home buyers are now able to save a deposit more quickly is not because property prices have fallen over the past year – because they've actually increased. Rather, it's because earnings power (through a combination of higher wages and higher savings account interest rates) has grown faster than property prices.

If you are looking to buy your first property, reach out to us today!

05/09/2023

*INTEREST RATES ON HOLD FOR SEPTEMBER*
For the 3rd Month in a row the RBA leaves the official interest rates at 4.1% offering another month’s reprieve for borrowers.
This will be welcome news to many property owners around the country today.

30/08/2023

Using a broker when purchasing a vehicle can have many benefits.

With access to a wide range of lenders, we can help get you the right finance option for your needs.

Contact Us for more Information.

09/02/2023

Our Mortgage Broking business (Eastern Financial Solutions) is growing, and we are looking for a Loan Processor / Admin Officer to join our Pymble team.

Day to day activities include assisting our Mortgage Brokers & clients with loan application lodgement and ongoing service. This is not a sales role so there are no sales targets.

We are flexible on hours so Casual, Part time and Full Time will be considered.

The role will primarily be working from our Pymble office.

Financial services experience would be handy however not a must.

An interest in the residential property market is essential.

If this role sounds suitable for you please contact Mark Monahan on 0405 141 129 or at [email protected]

Know anyone who might be interested? Feel free to share!

12/01/2023

Happy New Year from the team at EFS!

We trust you have enjoyed some nice celebrations over the past few weeks and spent some quality time with your family and friends.

With Christmas behind us, what typically follows is a looming credit card debt from our overly generous Christmas spirit and perhaps some holiday festivities. It is important to manage all personal debt to ensure a healthy financial position if you are considering negotiating any larger financial decisions you may be making this year. These could include purchasing a new home or investment property or maybe looking to refinance.

Come and see us at Eastern Financial Solutions to discuss how we may be able to help you.

10/11/2022

Today marked David Monahan’s last official day at Eastern Financial Solution. David established EFS with Greg Nolan & Brad Nolan in 2003 following a long and successful career with Westpac Banking Corporation.

David is leaving EFS in the capable hands of Brad Nolan, Greg Nolan and Mark Monahan

We wish David a very relaxing retirement filled with family and travel.

08/11/2022

Is The Property Market Going To Crash?

What you may find extremely interesting is that:

- with falling consumer confidence
- the fear of a ‘property crash’
- increased rental costs
- the RBA trying hold inflation to a normalised 2-3% target

Aussies are still spending rather than saving!

Come and see our team at Eastern Financial Solution in Newcastle, Sydney or the Sunshine Coast and we can help you with all your loan needs.

04/10/2022

Rentvesting!

Many people feel locked out of the housing market as the areas they want to live in become increasingly unaffordable. Rentvesting is an alternative way to get started. Rent in a suburb that suits your lifestyle, and purchase an investment property that fits your budget.

If buying an investment property is something you are interested in, come and see our team at Eastern Financial Solution in Newcastle, Sydney or on the Sunshine Coast and we can help you with all your loan needs.

08/09/2022

Do you know when it is the best time to become a landlord?

Great opportunities also exist for landlords when:

- Rental vacancies are low
- Rental prices are increasing
- There are less houses on the market for sale
- There are less houses available for rent

And that time for you could be now!

If becoming a landlord is something you are interested in, come and see our team at Eastern Financial Solution in Newcastle, Sydney or the Sunshine Coast and we can help you with all your loan needs.

16/08/2022

Refinancing rush: Australians no longer paying the lazy tax

Mortgage borrowers are already responding to expected rate rises, with refinancing for those switching lenders at record levels. Recently Eastern Financial Solutions broker Khristina Totos was interviewed by the ABC regarding this topic and her interview can be found below.

If refinancing is something you are interested in, come and see our team at Eastern Financial Solution in Newcastle, Sydney or the Sunshine Coast and we can help you with all your loan needs.

Mortgage borrowers are already responding to today's expected rate rise, with refinancing for those switching lenders at record levels. RateCity's Sally Tindall says credit unions, neobanks and smaller lenders are doing well out of this trend, as refinancers are more willing to try newer options.

12/07/2022

Apartment living is back in vogue

Even as lockdowns and remote working drove demand for larger homes, more Australians than ever are taking up apartment living.

Of the nearly 11 million private dwellings in Australia, 70% were separate houses, 16% were apartments, and town houses accounted for 13%.

All up, more than 2.5 million people – or 10.3% of us – now live in apartments.

To help you find the perfect loan for your dream apartment come and see our team at Eastern Financial Solution in Newcastle, Sydney or the Sunshine Coast and we can help you with your loan needs.

24/06/2022

Are your kids flying the nest?

Over the past few years, we have seen a significant increase in parents becoming guarantors on the loans for their children. Often this can be the most suitable option for parents as it does not involve providing cash or lending money. Instead, you are providing equity in your own home as security for the child's loan. It also does not hinder your child's borrowing capacity.

Come and see our team at Eastern Financial Solution in Newcastle, Sydney or the Sunshine Coast and we can help you with all your loan needs.