http://www.gcfinancesolutions.com.au/

GC Finance Solutions, Level 1, Exchange Tower, 530 Little Collins Street, Melbourne (2026)

04/05/2026

Looking to get approved for a home loan? But ...

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04/05/2026

What happens when your fixed rate expires?

Do you know when your fixed rate term is coming to an end? Once it finishes, the bank is free to quietly switch you to a higher interest rate – unless you act fast! Think of how costly it could be if you simply let the bank choose your interest rate. If your bank charges you just 0.5% more than the competitive interest rates, this adds up to a significant amount over the term of your loan. You can save yourself a great deal of money and perhaps even cut years of your loan, if you are proactive about monitoring your interest rates and choosing the right option for you.

Switching to a variable rate
A variable rate can be a great option if you want to take advantage of low interest rates, or if you want the flexibility to redraw or make extra payments. When your fixed rate term expires, the bank will automatically switch your loan to the Bank Standard Variable Rate (BSVR). Do some research to find out whether this is a competitive rate; if not, you can talk to your bank and try negotiating a better deal. And if they do not offer you a competitive rate, you can switch lenders.
Lenders generally prefer to negotiate rather than lose a customer, while they don’t generally make their best offers to customers with a proven history of loyalty. So when it comes to your interest rate, stay alert and ask questions – keep your lender busy, trying to keep you happy!

Extend your fixed rate
One option is to ask the bank to refix your home loan, extending it for another one, three, five to ten years. The fixed rate is a good option for you, if you are planning to pay off your loan steadily over a long period of time, and you want each mortgage payment to be a regular amount so you can budget your money precisely. Fixed rate protects you from rate rises and you could be paying less than the variable rate. However, there is also the risk that you could end up paying higher than the market rate if you are locked into an outdated fixed interest term. There may also be a break fee if you change or pay off your loan within the fixed period; this means the fixed rate is not a good option for anyone planning to sell their home.

Call us today if you need assistance pinpointing the best and most competitive option for you.

03/05/2026

Understanding the buying and loan process

Purchasing a new home or an investment property can be a daunting prospect, and you might find it difficult to identify the first logical step. Here we look at the process of securing a loan so you can buy the property that suits your needs and your budget.

Ask yourself what you want to achieve

The first step is to establish exactly what you are looking for. Do you want an investment property or a family home? If you are looking for an investment property, are you looking for a property you can fix up and “flip” or do you want something that is a low risk, long term prospect? Is your family home intended to be a starter home, or are you planning to live there for several decades?

Talk to your broker about your financial situation, so you can establish how much money you can borrow, and which loan is right for your needs. Ascertain which lender and loan is right for you.

Apply for a pre-approved loan

Arrange a pre-approved loan so you can have a clear idea of how much you can spend and how long it will take you to pay off the loan once you purchase the property. With a pre-approved loan, you will also stand out as a serious prospect, compared to other potential buyers who don’t have pre-approval.

Find your property

Once you have a vision for your property and you know your financial limits, you can start looking for your property. When you find something you like, investigate the location as well as checking out the floor plan and fixtures – research the local property prices, the potential capital growth, and see if the local council has any plans for the existing infrastructure that might affect the area in the future. Ask a registered valuer to make a full valuation of the property, so you can be sure you are getting a good deal.

Make an offer

When you are confident that you have found the property that suits your needs and your budget, you can make a written offer. If the seller accepts your offer, you can review the contract of sale with your solicitor or conveyancer, before signing it. Your solicitor or conveyancer will also take responsibility for any searches, and checking that all rates and taxes have been paid to date. The contract of sale confirms the selling price as well as terms and conditions. Your lender will usually require a property valuation, building inspection report and a pest inspection before giving you full loan approval.

Pay the deposit

Once you have exchanged contracts, you will need to pay the deposit, which works as your bond until settlement, which is usually six weeks after signing. You can cancel the contract during the cooling off period which is a specified period of time that varies from state to state.

Congratulations!

Now you are a home owner! Keep in regular contact with your lender, so you can ensure your home loan remains the best fit for your needs.

Contact us today if you wish to discuss your plans for owning a property. We can discuss the buying process and help with finding the right loan for you based on your financial situation and your individual needs.

03/05/2026

How many do you follow?

02/05/2026

First Home Buyer Cheat Sheet: 10 Tips To Buying Your First Home

So you’re going to take the plunge into real estate ownership. Congratulations!

You’ve just made a smart decision in securing your financial future.

Let me help you with my top 10 tips for buying your first home.

1. Decide what you can afford
Take a look at your salary, debt levels, cost of living and the repayments you’d face on your ideal property. Be honest with yourself about lifestyle costs so you don’t over-stretch yourself.

2. Get your finance pre-approved
Do this before you start looking. Don’t risk missing out on a great property because you haven’t got your finance organised. Shop around too as the banks are offering some very competitive rates right now!

3. How to buy where you want for less
Take a look at the neighbouring suburb. It might be a five-minute walk away but often so much cheaper. If you can’t afford your favourite area, consider what you like about it and seek the same in another region.

4. Top features to look for
Major items to look for include a quiet suburban location away from major roads and traffic noise, lots of natural light, close proximity to shops and transport, a good floor plan, good internal size (apartments)/land size (houses) and ideally, off-street parking. Your first property purchase will not be your last, so be willing to compromise on the smaller things but not the headline items above.

5. Properties to avoid
Company title apartments often have by-laws restricting owners’ rights to rent their apartments. This might not matter right now, but if you ever want to rent it out or sell it later, company title could be problematic. Stick with strata apartments – there’s plenty around. Also avoid new apartments in inferior locations. They’re often keenly priced because the developer bought the site cheaply.

6. Recognising potential
It’s really off-putting to walk into a dirty, untidy property. But stop yourself and try to see past the mess. How would it look with new paint and carpet and a professional clean? A poorly presented property in a good location is a gift for budget-conscious buyers as you’ll face less competition.

7. Buying at auction
You can make an offer prior but you risk paying more than you need to. Pre-sales usually occur when there is lacking interest or when one buyer is offering a lot more. Plan your walk-away price and attend some auctions to experience the atmosphere and observe a few bidding strategies. Organise contract amendments beforehand in writing. If you really don’t want to bid yourself, you can authorise someone else to act on your behalf.

8. Bidding at auction
If you’re going to start the bidding, start low. Project confidence and make the other bidders think you have no limit. Make your bids fast and assertive. Agonising over your next bid is a sign of weakness. Call out your offer in full (that is, say “$ 350,000” instead of the increments, such as “$ 5000”). If it’s going to pass in, make sure you’re the highest bidder as you’ll usually be given first right to negotiate afterwards. Stick to your walk-away price. Short-term disappointment beats long-term remorse!

9. Buying via private treaty
Don’t offer the most you can first-up, as vendors will always assume you can do better. Put the offer in writing and mention your pre-approved finance. To make it more seductive, sign a contract and attach a deposit cheque. If it’s rejected, look for ways to help the vendor. Offer a shorter settlement or early release of the deposit if they accept the price. After one or two rejected offers, try offering an odd number such as $ 337,500 instead of $ 340,000, as it implies you’re stretched to your financial limit.

10. Get a pest and building report
I strongly recommend this but there are also ways to identify major defects yourself. These include checking the power board in the electricity box to see how old it is; checking for sagging floors; and looking for water stains on the ceilings or dark stains around the skirting boards, which could indicate leaks or rising damp. Also, turn on a tap to check the water pressure.

Good luck!

Source: John McGrath – Switzer Published: Wednesday, November 16, 2011

Great advice from a leading real estate agent. It is really important to understand the cost involved in buying a home. We are offering you a free assessment which will provide you with a finance recommendation (comparing all the major banks and other leading lenders) and a total cost analysis to ensure you know all the ins and outs when buying.

Click on the 'Message' button above and request a chat today!

01/05/2026

Spend 10 minutes on the phone with me to see if you could save $250 or more per month OFF your home loan repayments.

Private message me now for a free loan comparison!

01/05/2026

Why you need a property inspection

Whether you are purchasing a new home or an investment property, you are about to embark on one of the most important financial investments of your life. So it is essential to ensure that you are getting a fair deal. Yet, while buyers can be scrupulous about checking contracts and researching market prices, a surprising number of people tend to skip the property inspection. This means that you are taking ownership of any issues that could diminish the value of the house, even if the property looks perfect on the surface.

Here are five good reasons why you should invest in a property inspection before your purchase:

1. Detect Safety issues
Not all hazards are easy to see at first glance. Asbestos, mould or carbon monoxide are only some of the hidden threats that could be lurking in your new home. Identify them now and you could save yourself some costly damage control.

2. Identify Illegal Installations
Perhaps the previous owner was a DIY expert and the property looks impressively well maintained on the surface. But if any of these renovations were completed without proper approval, you are essentially buying something that does not exist. And if the unapproved renovations or installations need to be removed or fixed, you could be facing some expensive reparations.

3. Plan for future costs
A comprehensive inspection can provide helpful information about the structure, fixtures and fittings so you can budget wisely for future repair and maintenance costs. If you know exactly when the water heater will need to be serviced or replaced, you can plan efficiently. Your home inspector can also suggest maintenance strategies based on your specific property, saving you money in the long term.

4. Prepare for Insurance Approval
If there is an issue with the property that could impact your insurance coverage, it’s better to hear it sooner from the property inspector, rather than later, from the insurance company. Your property inspector can tell you what conditions could undermine your insurance coverage and whether you need any certifications to be eligible.

5. Renegotiate the Price
If you were previously thinking the property price was too good to be true, the property inspection has probably opened your eyes a little wider. This is a good time to reconsider whether you are happy with the proposed purchase price. If the property is in urgent need of repairs and maintenance based on what you have discovered, you can ask to renegotiate a lower price to cover the potential cost of the repairs needed. Alternately, you can explain to the seller that the property no longer suits your needs based on the work involved to bring it up to standard.

A property inspection might seem like one extra unnecessary expense as you prepare to settle your new purchase, but it can prove to be an extremely cost effective investment in the long term.

If you have any questions or concerns about your own plans to invest in real estate, contact us today.

30/04/2026

What Are Genuine Savings? Get approved today

Genuine Savings For A Home Loan Deposit Explained

Just when you thought that you could get the best home loan deal by simply having a lump sum of cash, you might have to think again. Not all cash deposits are acceptable in applying for a home or investment loan when your deposit is less than 20% of the purchase price.

These days you can obtain a home loan with as little as a 5% deposit. That means a bank can lend you up to 95% of the purchase price.

If you are considering applying for a home loan with a deposit that is less than 20% of the purchase price then here are some of the things that you need to know. At least 5% of your deposit needs to be made up of genuine savings.

1. What exactly are genuine savings?
These are savings that are held or accumulated in a savings account for at least three months.

2. What other assets might be considered as genuine savings?
Other assets that can be considered as genuine savings are term deposits, shares, and equity in property that are held for at least three months.

If you have any debts, e.g. a personal loan, and you have been paying extra off your debt above the minimum requirement, you can use this extra repayment towards your genuine savings calculation.

If you are currently renting for 12 months or more through a Real Estate agent, you may be able to use those rent payments towards your genuine savings calculation as well. Please contact us to discuss your personal circumstances to see if you qualify.

3. What does not qualify as genuine savings?
Gifts from parents
Tax refunds
Income Bonuses
Inheritance money
Cash kept at home

If any of these apply, we recommend that you place those funds into a personal savings account and hold them there for three months to qualify.

4. How much do I need for a home loan deposit?
You can obtain a home loan with as little as a 5% deposit. The major lenders may provide a mortgage up to 95% of the value of the property. In some instances you may be able to borrow the whole amount, contact us to see if you qualify.

5. Can I buy a property if I don’t have genuine savings?
We have access to lenders where you can borrow up to 95% of the purchase price without having genuine savings. Of course you still need to come up with at least a 5% deposit plus funds to complete (stamp duty, legal costs etc). Contact us today, simply click the 'Message' button above and our home loan specialists will answer all your questions and assist you with finding the right home loan for your situation.

29/04/2026

Which is the right home loan for you?

There are a bewildering variety of home loans available, and it can be confusing to figure out which type of home loan is the best for your circumstances. However, when you know the pros and cons of each type of loan, you can make a decision that will fit best with your financial situation.

Fixed rate home loan

A fixed home loan offers an interest rate that is fixed for a set period of time – usually 1, 3 or 5 or 10 years. The key benefit is the ability to budget, knowing exactly how much your repayments will cost each time.

However, a fixed loan doesn’t have the same flexibility as other loans – you will encounter restrictions if you want to make additional repayments, such as fees or capping to a low amount. You might also be disappointed if interest rates drop dramatically and you are still paying the same fixed rate.

This is a good option if you want to make steady regular payments and you intend to stay in your current home throughout the term of the loan. It is not such a good option for someone who wants to move to another property in the foreseeable future, or who wants to cut down on the term of their loan.

Variable rate home loan

A variable home loan is far more versatile, with the option of making extra payments at no extra cost, enabling you to pay the loan off sooner. Your loan might also offer unlimited redraws, so you can access money in an emergency. Another positive feature is the offset account, a transaction account linked to your mortgage account which reduces your interest payable.

This is a good option if you want to invest the maximum into your mortgage, with the freedom to redraw in an emergency. However, as the interest rates will vary from payment to payment, it is not such a good option if you struggle to budget for unpredictable changes in the loan repayments.

Split loan

The split loan offers the advantages of both fixed and variable loans. You can split your loan into any proportion you wish – 50/50 or 80/20. One of the benefits of the split loan is that payments will gradually decrease, as the steady fixed rate payments lower the amount of the loan, so that the variable payment is proportionally lower at times when interest rates rise.

Interest only loan

With an interest only loan, you pay only the interest on the loan for the initial term, usually from one to five years. Your monthly repayments are considerably lower, although this is because you are not reducing the principal of the loan. At the end of the interest only term, your repayments will rise as you must start paying both interest and principal.

This can end up being an extremely expensive option if you are not sure what you are doing. However, investors tend to choose interest free loans, as they can take advantage of low repayments over a set period, before they resell the investment property.

Low Doc

The low doc loan has lower requirements for proof of income and credit rating, yet they also require a higher deposit and charge higher interest rates. For someone with an unstable credit history or employment background, the low doc loan will be difficult to pay off. While this option can be popular with self-employed people, who don’t have the same level of documentation to prove their income, the excessively high interest rate generally makes it a bad long term choice. If this is your only option for a loan, your best alternative might be to wait until you can be approved for a different type of loan.

If you need help figuring out the best home loan option for your circumstances, contact us today.

28/04/2026

What Is A Mortgage Offset Account?

An offset account is a transaction account that can be linked to your home or investment loan. The credit balance of your transaction account is offset daily against your outstanding loan balance, reducing the interest payable on that loan.

Offset accounts enable you to make the most of your income and other funds to reduce the interest payable on your home loan, thereby reducing your loan term.

How an offset account can work for you:

A customer with a $150,000 home loan over 30 years would pay approximately $167,190 in interest.

If the customer had an offset account linked to the home loan for the entire loan term with a constant balance of $10,000 in it, they would pay the loan off in 26 years and 4 months and pay just approximately $127,553 in interest.

This represents a saving of three years and eight months and approximately $38,636.95 in interest.

Please note: These figures are based on a Standard Variable Rate of 7.36% p.a.

We not only assist our clients with finding the right loan for their situation, but our post settlement service is second to none. Post settlement we help our clients and show them how to correctly set up their banks accounts and how to link them the right way with their loan accounts.

Click the message button above and ask us which lender is offering the right loan for your situation! (We have access to all the major banks and many other leading lenders)

GC Finance Solutions

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