Derek Farmer Mortgage Broker

26/07/2023

🏠 Is the property market starting to stabilise? The data looks promising 🏠⁣
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With fewer listings, rising interest rates, and inflation, home-buying plans have taken a hit for many. ⁣
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But Westpac economists have stated that Australia’s housing correction is mostly over, predicting house prices to increase by 5% in 2024. ⁣
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Why is this good news if you’re looking to buy? You’ll have more options to choose from as owners start to (hopefully!) list again. 🏘⁣
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And with interest rates set to drop, getting pre-approved finance in place could have you primed to pounce when the perfect property arises. 🐈‍⬛⁣
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To find out more, DM us or contact Derek at Shore Financial on:

📞 0402 724 393
💻 [email protected]
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*Westpac⁣
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25/07/2023

It makes our day when our clients leave us a cracker of a review like this one so we couldn't help ourselves but share 😊 Thanks for the amazing review Carla!

24/07/2023

🏡 Mortgage serviceability can feel like a big hurdle. But it’s there to help 🏡⁣
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It’s in your best interests to have a loan you can afford. And brokers and lenders want this too.⁣
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We have a duty of care to ensure you’re not given a loan that can put you in financial hot water. 🥵⁣
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In very simple terms, your serviceability is calculated by looking at your income and subtracting your expenses and debt repayments.⁣
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And a serviceability buffer is applied to the current interest rate to see if you’ll be able to continue repayments should interest rates rise. 📈⁣
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Buying a home is exciting, but you don’t want to end up in a financially sticky situation. ⁣
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This is especially important given the recent RBA interest rate hikes over the past year.⁣
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If you’re in the market for a home loan, give us a call. ☎⁣
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We can help you navigate mortgage serviceability tests and find a loan that will work for you and your financial goals. 🤑⁣
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To find out more, DM us or contact Derek at Shore Financial on:

📞 0402 724 393
💻 [email protected]
⁣

19/07/2023

Aussie homeowners are spending $1 billion each month on home renovations. Is it time to pick up the tools and pimp your crib? 🔨 💪

Australians are showering their homes with $1 billion worth of love each month as home improvement spending ramps up. We look at the cost of popular renovations – and how to foot the bill. Belts may be tightening but not, it seems, for renovators. The latest figures from the ABS show Australians s...

17/07/2023

💁♂ People who use mortgage brokers get better deals, says government MP 💁♂⁣
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Assistant Treasurer Stephen Jones MP recently stated in an ABC interview that people are “finding a better deal through their mortgage broker than they would otherwise”.⁣
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And with all the rate hikes we’ve experienced over the past year, and a few more suspected to come… many are feeling the pinch when it comes to their home loan. ⁣
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If you haven't refinanced in a while, or you’re in the market to buy, get in touch with us today. 👇⁣
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To find out more, DM us or contact Derek at Shore Financial on:

📞 0402 724 393
💻 [email protected]
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*The Adviser ⁣
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13/07/2023

Buying a home for the first time can be challenging, especially with house prices soaring in recent years. So could switching from house hunting to unit searching be the way forward for you? 🤿 💦

Buying a home for the first time can be challenging, especially with house prices soaring in recent years. So could switching from house hunting to unit searching be the way forward for you? There’s no denying that getting into the property market in today’s economic climate ain’t easy. The av...

12/07/2023

🏡 What are some features of a mortgage worth considering besides the rate? 📈⁣
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When considering a home loan, the interest rate is often the number one factor in most people’s decision-making process. 🤔⁣
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But, what are some other key factors and features you should also consider? Here's a few 👇⁣
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🏠 Do you plan on paying down your mortgage early? It's worth making sure you can make extra repayments for free. ⁣
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🏠 What about accessing those extra repayments should you need to? Then a redraw facility or offset account may be for you.⁣
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🏠 Want to hedge your bets? You may be able to split your home loan so that half is on a fixed rate, and the other half is variable (which can give you access to the above two features).⁣
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To find out more, DM us or contact Derek at Shore Financial on:

📞 0402 724 393
💻 [email protected]
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11/07/2023

Can't help but beam with pride when we get a review like this one! Thanks Jeremy! ❤

05/07/2023

🏠 Want to buy your first home with a friend, sibling or family member? 👨‍👨‍👦‍👦⁣
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Good news! Effective 1 July 2023, you may be eligible to lodge a joint application under the First Home and Regional First Home Buyer guarantees. 🤯⁣
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The two schemes, which were previously only available to single people or those in relationships, allow eligible applicants to purchase their first home with just a 5% deposit and not pay lenders mortgage insurance.⁣
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This could speed up your road to homeownership by four to five years! 🏁⁣
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But you may want to move fast because spaces disappear quick as a flash. 📸⁣
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Want to know more? ⁣
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Get in touch for help navigating eligibility requirements, comparing loans, and the application process. 👇⁣
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To find out more, DM us or contact Derek at Shore Financial on:

📞 0402 724 393
💻 [email protected]
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04/07/2023

Phew! The RBA has today decided to put the official cash rate on hold. So is the end of this rate hike cycle finally in sight? 🤔

Phew! The Reserve Bank of Australia (RBA) has today decided to put the official cash rate on hold. So is the end of this rate hike cycle finally in sight? The decision to keep the official cash rate at 4.10% will be welcomed by homeowners around the country after monthly repayments increased by abou...

03/07/2023

🏠 More people are starting to set their sights on the property market again 🏠⁣
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Even amidst rate hikes and inflation, Commonwealth Bank Household Spending Intentions Index data showed a 14.4% monthly increase in home-buying intentions in May.⁣
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And the Housing Industry Association announced that new home sales increased across Australia for the second month in a row in May. 😯⁣
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With increasing rents and low vacancies, renters are feeling the crunch. And understandably, many want to escape and get into the property market. ⁣
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And we’re here to help. 🌈⁣
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There are a plethora of government schemes and grants that can be bundled together to help fast-track your homeownership goals. 🏡⁣
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We’ll help you work out your borrowing power, your loan options, and factor in what schemes you may be eligible for.⁣
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To find out more, DM us or contact Derek at Shore Financial on:

📞 0402 724 393
💻 [email protected]
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28/06/2023

Gonna make a jailbreak … Are recently lowered serviceability thresholds the answer to busting out of your “mortgage prison?” ⛓

Have you been keen to refinance but told you can’t? You’re not alone. Many Australian households are currently locked into their home loans due to rising interest rates. But some banks have recently started to lower their serviceability thresholds. As interest rates have climbed, Australians hav...