Mortgage Choice Norwood - Steve Smith

06/07/2026

Tax time is here, and if you are expecting a refund, putting it toward your mortgage is a smart way to get ahead.

What this actually means is choosing between two main options: making a direct lump sum payment or leaving the cash in an offset account. An offset account keeps your money fully accessible while still lowering your daily interest charges. A lump sum payment knocks down the principal immediately, but redraw rules depend entirely on your lender's system.

For a typical $550,000 loan, even a $2,000 or $3,000 refund can save you thousands in compounding interest over the life of the loan.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/how-to-use-your-tax-return-to-cut-your-mortgage/

29/06/2026

The financial year has turned, and the property landscape looks very different to last year. With the Senate passing major changes to negative gearing and CGT last week, the rules for investors are on a clear countdown toward 2027.

At the same time, the latest listing data on realestate.com.au shows more stock is hitting the market. If you have been outbid over the past two years, this shift in supply could open up the space you need to make a move.

For existing homeowners, it is a reminder to check what your lender is actually charging you. Bank margins rely on you not checking your statement at the turn of the year.

What’s right for your next step depends entirely on your personal risk appetite and financial goals.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/new-financial-year-new-home-loan-strategy/

22/06/2026

The federal budget changes to negative gearing and CGT mean self-employed property investors need a sharper strategy for the new financial year. If you are planning to buy, the old approach might not work for you anymore.

Lenders look closely at how investment debt fits into your business structure. If your business has grown recently, providing two quarters of BAS can assist lenders in understanding your current performance. This can help us utilise your most recent year of financials rather than relying on a low two-year average.

Before June 30, talk to your accountant about your property goals. I am always happy to talk to your accountant directly to ensure your tax planning does not accidentally lower your borrowing capacity.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/eofy-checklist-for-self-employed-property-investors/

17/06/2026

The RBA has kept the official cash rate on hold at 4.35% at its June meeting. After three consecutive rate hikes earlier this year, this pause offers some temporary stability for homeowners on variable rates. The decision wasn't a surprise. A slowing economy and rising unemployment figures mean the central bank wants to pause and see how those previous rate increases are flowing through household budgets before making another move.

What this actually means for you is that your mortgage repayments should remain steady for now. But don't expect borrowing capacities to bounce back anytime soon - money remains tight across the board. Trying to outguess the RBA is never a strategy.
What matters is how your loan fits your own risk appetite and household budget today.

Want to talk it through? Full breakdown plus a booking link on the website: [https://www.mortgagechoice.com.au/steven.smith/blog/what-the-june-rba-decision-means-for-your-home-loan/]

01/06/2026

EOFY is approaching, and for property investors, this year feels a bit different. Between the usual scramble for receipts and the major tax changes announced in the May Budget, there is a lot to get right. The big takeaway is that the "old rules" for negative gearing and CGT are being grandfathered for properties held before 12 May 2026.

If you're looking at buying an established property now, the math has changed. On top of that, the ATO is cracking down on holiday home owners who block out peak periods for personal use - if it’s not "mainly" a rental, you might lose your interest deductions.

In short, don't let the tax tail wag the investment dog. A good property is a good property, but you need to run your numbers based on the new reality.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/eofy-tax-tips-for-property-investors-and-budget-changes/

25/05/2026

Auction clearance rates have taken a sharp dive, falling from roughly 70% in February to the low 50%'s this past weekend. While we usually expect a bit of a seasonal slowdown as we head into winter, this shift is different.

Between the three interest rate hikes we've had recently and the Federal Budget's changes to negative gearing, the "froth" is officially out of the market. Lenders are already tightening up how they calculate borrowing power for established properties, which means some buyers are finding they can't bid as high as they used to.

The upside? For the buyers still in the game, the pressure to overpay has eased. We're moving toward a balanced market where negotiation is back on the table.

Full post on the website with a link to book a 15-minute chat: https://www.mortgagechoice.com.au/steven.smith/blog/why-auction-clearance-rates-are-dropping-and-what-it-means/

20/05/2026

The 2026 Budget changes to Negative Gearing and Capital Gains Tax are now filtering through to the banks. What this actually means is a significant hit to investor borrowing power - in some cases reducing a budget by hundreds of thousands of dollars.

The government's goal is to free up established houses for owner-occupiers, which is a fair objective. However, the side effect is a likely squeeze on rental supply and higher costs for tenants.

I’m already seeing lenders communicate pending changes to their assessment policies to remove the "negative gearing boost" from their calculators. If you’re an investor, the strategy you had yesterday might not work today.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/budget-2026-changes-to-negative-gearing-and-cgt/

11/05/2026

After three consecutive RBA hikes, I’m getting a lot of questions about whether it’s time to fix.

Here’s the thing: fixing isn't a "win or lose" game against the banks. It’s a choice about your risk appetite. While locking in your rate gives you certainty for your budget, it usually comes with trade-offs like limited extra repayments and the loss of your offset account.

Currently, fixed rates are often higher than variable rates, so you’re paying for that peace of mind upfront. If you’re undecided, a split loan - part fixed, part variable - is a practical way to get the best of both worlds.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/should-i-fix-my-home-loan-a-practical-framework/

05/05/2026

The RBA has raised the cash rate by 25 basis points today to 4.35 percent. This effectively wipes out the cuts we saw in 2025 and puts the rate back at the previous cycle peak.

What this actually means is about $90 a month extra in repayments for a $550,000 loan, or $120 for a $750,000 loan.

If you’ve been waiting for rates to drop further before reviewing your mortgage, it is time to reset those expectations. My advice this week is simple: check the gap between your current rate and what your lender offers new customers, stress test your budget for another small move, and don’t "panic-fix" without looking at the numbers first.

Want to talk it through? Full breakdown plus a booking link on the website:

21/06/2023

Major news for First Home Buyers in SA, with the State Government abolishing Stamp Duty for new homes up to $650,000! Along with the incentives already in place, it's a pretty good time to be a first home buyer in SA! 🏡

https://www.statebudget.sa.gov.au/our-budget/housing/support-for-first-home-buyers

📲: 0422262223

The First Home Owner Grant property value cap will be increased from $575,000 to $650,000 for eligible contracts entered into from 15 June 2023.