Finance Achievers

18/12/2021

Merry Christmas and Happy New Year from the Finance Achievers Team! 🎅🌲

07/11/2021

Some interesting new data sheds interesting light on the eternal debate over whether to have a variable or fixed home loan.

Reserve Bank of Australia data for August shows owner-occupiers on three-year fixed loans were paying, on average, 1.26 percentage points less than those on the discounted variable rate.

However, these things move in cycles. The gap between fixed and variable rates might start closing, with the Reserve Bank signalling it will start increasing official interest rates once the economy strengthens.

If you're wondering whether to go fixed or variable, here are three things to consider:
Does your variable rate have features a fixed loan might not have?
Do you want the repayment certainty that comes from a fixed loan?
Have you considered a split loan, which is part variable and part fixed?

Want to compare fixed v variable rates? Let's talk. Call us on 1300 303 339 or email [email protected] for more info!

24/10/2021

Almost 598,000 residential properties were sold in the year to August, which is the highest number of annual sales since 2004, according to CoreLogic.

The August result was 42% higher than the year before and 24% higher than the 20-year average.

Six states and territories recorded sales volumes above their 20-year average:
QLD = up 28.9% on the 20-year average
WA = up 28.6%
NSW = up 25.3%
ACT = up 24.8%
SA = up 23.4%
VIC = up 20.5%
TAS = down 3.3%
NT = down 12.0%

As the statistics show, buyers are competing hard for properties right now. So if you’re in the market, it’s vital you get your finances in order. That way, if you see a property you like, you can beat the competition.

See how much you can borrow, call us on 1300 303 339 or email [email protected] for more info!

18/10/2021

Have you been squirreling away money during the latest round of lockdowns? If so – join the club.

Australian households have been saving an average of 9.7% of their income, according to the most recent data. However, the Reserve Bank has forecast that the saving rate will increase to about 15% by the end of September.

Part of the reason people have been saving more is because they’ve been stuck at home, which has meant they’ve had fewer opportunities to spend money in shops.

The Housing Industry Association recently reported that house new house sales are performing strongly – partly "due to increased household savings during the pandemic".

10/10/2021

Do you want to make your home more sustainable? If so, you might be interested in taking out a ‘green loan’.

A range of lenders now offer special loans for borrowers who want to finance home improvements such as:
✅Installing solar panels
✅Installing water tanks
✅Adding insulation
✅Adding double glazing to the windows
✅Doing renovations to make the home more energy-efficient

Lenders increasingly want to prove their green credentials and attract customers who care about the environment.

One way to do that is with green loans, which may offer lower interest rates and different borrowing conditions than traditional loans.

Want a Green Loan? We can help. Get in touch on 1300 303 339 or [email protected]

03/10/2021

With brokers now legally required to act in the best interests of borrowers – something banks aren’t required to do – borrowers have been turning to brokers in increasing numbers.

Mortgage brokers settled 59% of all new home loans in the June quarter – a record market share for brokers in the June quarter.

That compares to a market share of 57% in the June 2020 quarter.

Last year, ASIC, the financial services regulator, introduced the best interests duty, which obliges brokers (but not banks) to act in their clients’ best interest when providing home loan advice.

The Mortgage & Finance Association of Australia said the increasing popularity of brokers reflects “the ever increasing trust and confidence consumers have in their broker and the unrivalled best interests duty a mortgage broker provides”.

When you visit a lender, you will be told only about that lender’s products. But when you visit a mortgage broker, you will be able to compare home loans from a range of institutions.

Get in touch call us on 1300 303 339 or email [email protected] for more info!

17/09/2021

First home buyers have been drifting out of the market, while investors have been piling in, according to the most recent data from the Australian Bureau of Statistics.

June was the fifth consecutive month in which the number of first home buyer loans fell and in which the share of first home buyer loans (compared to the overall market) fell.

At the same time, June was the third consecutive month in which investors increased their market share.

Still, first home buyer activity is at historically high levels – the number of first home buyer loans in June was 47.1% higher than the year before.

But so is investor activity – which increased by 116.0% over the same period.

Whether you’re a first home buyer or an investor, the market is hot right now and competition for properties is fierce. So it’s important to organise pre-approval before you start house-hunting. That way, if you find a property you love, you’ll be able to make an offer immediately, which will improve your chances of success.

Call us on 1300 303 339 for more info!

Finance Achievers is a locally owned group of Finance Brokers specialising in consumer and business

17/09/2021

The Reserve Bank of Australia’s board (RBA) announced the cash rate is being held at 0.10%, where it has been since November 2020.

The move was widely anticipated, as the RBA’s board has said they do not expect to increase the cash rate until inflation is within the 2-3% target band. This is not expected to happen until 2024 “at the earliest”.

In underlying terms, inflation is currently at around 1.75%

READ MORE:
https://www.rba.gov.au/media-releases/2021/mr-21-19.html?utm_campaign=rba-update-september-2021&utm_content=rba-september-statement&utm_medium=email&utm_source=activepipe&token_type=email

15/02/2021

Confused about the ins and outs of mortgage refinancing? There are two key considerations when you’re looking at taking the step – why and how. Here, we examine both. A home loan is generally a long-term proposition, but in some situations it can be suitable to refinance your mortgage. Refinanci...

31/01/2021

As we enter 2021 with high hopes, there are many positive signs for the Western Australian property market.

For our property market, 2020 was a year where improvement occurred significantly in the second half. But how does the Perth property market fare against the nation’s other capital cities as we move into 2021?

28/01/2021

Watch this video to find out what you need to apply for a First Home Owner Grant. Buying your first home? Find out all you need to know in our First Home Buy...