https://www.mortgageaustralia.com.au/mortgagebroker/gursimrangill

Gursimran Gill - Mortgage Broker in Harrisdale, 31 Gypsum Avenue, Harrisdale, Perth (2026)

13/06/2026

Drive away in your dream car. Contact me for a low cost carloan.

13/06/2026

Do you know the difference between how much you 'can' borrow, and how much you 'should' borrow?

There might be a very big difference between how much a lender is willing to give you, and how much you can comfortably afford to repay.

So how do you work out your real 'should' borrowing capacity? Don't you want to be sure that you can afford to make the repayments on your loan?

Lenders will take into account your ability to repay the loan, based on what you earn, how many dependants you have, what your credit rating is, and your declared living expenses.

However, lenders only know what you tell them, and there are a few things you need to take into account that might not be considered by a lender when deciding on your borrowing capacity:

Job Security

How secure do you think your job is? If you've worked for the same company for several years and earn a decent wage, your lender will view this very favourably.

But have you been hearing murmurs about a possible restructure? Do you work in a department that could potentially be outsourced offshore?

You're in a much better position to assess your job security than a lender is, and you need to be realistic. If you commit to the maximum loan amount and then your role is made redundant, you might struggle to keep up your end of the bargain.

Job Satisfaction

Your excellent employment history was a definite tick for your lender, but how do you feel deep down about your job?

Have you just been hanging on until you can get finance approved? If this is the case, think carefully about how much you should borrow.

You might need to take a pay cut early on, if you decide to move into a different line of work.

Family Planning

You answered 'zero' when asked about your dependants, which contributed to the assessment your lender made when offering you a bumper loan.

But what if you were suddenly expecting a child, or if you decide to expand your family a few years down the track?

Your Lifestyle

You might be able to 'afford' the repayments on a big loan, but what happens when mother's day, your brother's birthday and your car registration all come around at once and you need some extra cash?

Or maybe you would like to take a holiday at some stage next year. Don't leave yourself short, or it's going to be a very long 25 to 30 years.

Your other goals

Would you really love to continue your studies in a few years? Do you dream of taking off for a few months to take the kids around Australia?

Don't forget about your other dreams and goals when you work out how much to borrow.

You still need to have a life, and some things are more important than having a spare room for your shoe collection.

10/06/2026

How to avoid disappointment when downsizing:

Just as many young families look to upgrade their home at some point, most of us will eventually decide that it's time to downsize.

You might be getting closer to retirement age and feel like it's time to free up some cash, rather than having it all tied up in your assets. Perhaps you can't see the point in maintaining a 5 bedroom home just in case the grandchildren come to stay.

Some retirees decide to downsize because they want to travel more, and a low-maintenance home is a better fit. And then unfortunately there are some people who are forced to downsize for less pleasant reasons, such as financial hardship, divorce, or the death of a spouse.

Whilst downsizing might seem like the solution to all of your problems, it's not always smooth sailing. Many downsizers jump from the frying pan into the fire by making an impulse purchase without doing their research. To avoid running into trouble - make sure you consider all of these factors:

Where do you really want to live?

It might seem like a lovely idea to spend your retirement in a small country town, reading by the fire in your single bedroom cottage. But how far would you be from family and friends? Many downsizers move to their dream location, only to find that it's rather lonely and their children don't visit nearly as much as they thought.

If you decide after a couple of years that you're not happy with your decision, it might be difficult to get back into the property market closer to home. Think carefully about where you really want to be in the long term.

What amenities do you need to have nearby?

You might be in fairly good health now, but it could be a great help one day to live within striking distance of a medical centre. It's also worth investigating the distance to the nearest shops, restaurants, cinemas and recreational facilities.

What type of property do you prefer?

Do you plan to keep any of your furniture? How do you feel about growing older in a house with a spiral staircase? It's important to think about what suits you now, and into the future when it comes to choosing a property to downsize into. If you're moving from a mansion on 20 acres, you might struggle to adjust to a single bedroom townhouse.

What lifestyle are you looking for?

Do you love peace and quiet? Do you want to be surrounded by other people around your age? Think carefully about what's important to you. If you love your privacy and the sounds of nature - a little unit in a bustling retirement community might not be your ideal downsizing opportunity.

What are the real costs of downsizing?

Although you're probably looking to free up some cash, it's important to look into the costs associated with selling your property, and buying your next property.

Some retirement communities charge enormous fees, and if you choose a unit or townhouse you might be up for Owner's Corporation fees on top of your council rates.

Examine the numbers to make sure you're really saving money.

01/06/2026

Why not consider a whole new range of tenants for your investment property?

Pets have been long maligned by landlords for their potential to make a mess and cause damage.

But with pet ownership in Australia ranking the highest in the world, property investors who turn their backs on our furry friends could be missing out on tenants and dollars.

Before they dismiss dogs and cats, landlords should consider that 60 per cent of Australians have pets and one third of households rent. Saying "no" to Fido and his feline foes means narrowing the rental funnel. At a time when national vacancy rates are climbing, this could be a costly choice.

Many landlords are now welcoming pets and reaping rewards. Here are some tips to help you embrace a pro-pet policy.

Pets don't rent - their owners do.

Opening the door to pets immediately makes your property more attractive to a wider range of tenants. The key is to consider whether the pets, particularly dogs, are well managed and trained.

This can be hard to assess, unless you happen to know your renters, so a little extra leg work is required.

Arrange to meet the applicant with their pet so you can see the animal for yourself and how it behaves. Reference checks are also crucial and, if you are especially diligent, a chat with the applicant's previous neighbours should give you extra insight into their pet management.

Some renters are even developing resumes for their pets, with photos, references and medical history.

Keep in mind that while you are not allowed to discriminate against rental applicants on the basis of race, gender, marital status etc, applicants cannot claim discrimination if you reject a particular pet.

Higher yields, longer stays

So prevalent are anti-pet policies that a researcher at the University of Western Sydney is now investigating the social impacts of these restrictions on renters and the broader community.

Because it can be so hard for tenants with pets to get a paw in the door, they are often prepared to pay a premium to secure a property.

While this does not mean charging more because someone rocks up with a pet, it gives landlords the opportunity to pitch their properties to pet owners and structure their rents accordingly.

For the same reason, pet-lovers are also likely to stay longer, which means lower turn-over and lower rental costs for landlords. Although data is scant, one 2003 survey in the United States showed renters with pets stayed an average of 46 months, compared to just 18 months for those without.

Have a pet agreement

Make sure your rental agreement includes a pet policy that stipulates the pet owner is responsible for:

Any property damage caused by the pet (inside and out).
Injuries caused to the pet on the property.
The pet's behaviour (including barking).
Regularly cleaning up after the pet.

Strata permission

If you own a strata property, such as an apartment, you will also probably have to convince the body corporate to permit pets.

If you are on the body corporate you may have more sway in arguing your case. Some body corporates are loosening up, realising many buyers often have pets. Once owner-occupiers pave the way, it's easier for renters with pets to get the nod.

01/06/2026

Discover the pros and cons of each type of home loan:

There are literally hundreds of home loans available, with new products emerging all the time.

A professional Mortgage Broker can recommend a loan for your particular needs, help you to complete the paperwork, professionally package it with your supporting documents and submit it to your chosen lender.

If you want to do some homework first, pop your details into the clever loan option tool or work out monthly or fortnightly repayments with the calculators on our website.

When you're ready, get in touch with me to discuss the next steps. Here's a snapshot of the main types of home loans and some of their pros and cons.

A) Variable

Standard variable loans are the most popular home loan in Australia. Interest rates go up or down over the life off the loan depending on the official rate set by the Reserve Bank of Australia and funding costs. Your regular repayments pay off both the interest and some of the principal.

You can also choose a basic variable loan, which offers a discounted interest rate but has fewer loan features, such as a redraw facility and repayment flexibility.

Pros

- If interest rates fall, the size of your minimum repayments will too.
- Standard variable loans allow you to make extra repayments. Even small extra payments can cut the length and cost of your mortgage.
- Basic variable loans often don't come with a redraw facility, removing the temptation to spend money you've already paid off your loan.

Cons

- If interest rates rise, the size of your repayments will too.
- Increased loan repayments due to rate rises could impact your household budget, so make sure you take potential interest rate hikes into account when working out how much money to borrow.
- You need to be disciplined around the redraw facility on a standard variable loan. If you dip into it too often, it will take much longer and cost more to pay off your loan.
- If you have a basic variable loan, you won't be able to pay it off quicker or get access to money you have already repaid if you ever need it.

B) Fixed

The interest rate is fixed for a certain period, usually the first one to five years of the loan. This means your regular repayments stay the same regardless of changes in interest rates. At the end of the fixed period you can decide whether to fix the rate again, at whatever rate lenders are offering, or move to a variable loan.

Pros

- Your regular repayments are unaffected by increases in interest rates.
- You can manage your household budget better during the fixed period, knowing exactly how much is needed to repay your home loan.

Cons

- If interest rates go down, you don't benefit from the decrease. Your regular repayments stay the same.
- You can end up paying more than someone with a variable loan if rates remain higher under your agreed fixed rate for a prolonged period.
- There is very limited opportunity for additional repayments during the fixed rate period.
- You may be penalised financially if you exit the loan before the end of the fixed rate period.

C) Split rate loans

Your loan amount is split, so one part is variable, and the other is fixed. You decide on the proportion of variable and fixed. You enjoy some of the flexibility of a variable loan along with the certainty of a fixed rate loan.

Pros

- Your regular repayments will vary less when interest rates change, making it easier to budget.
- If interest rates fall, your regular repayments on the variable portion will too.
- You can repay the variable part of the loan quicker if you wish.

Cons

- If interest rates rise, your regular repayments on the variable portion will too.
- Only limited additional repayments of the fixed rate portion are allowed.
- You will be penalised financially if you exit the fixed portion of the loan early.

D) Interest only

You repay only the interest on the amount borrowed usually for the first one to five years of the loan, although some lenders offer longer terms. Because you're not also paying off the principal, your monthly repayments are lower. At the end of the interest-only period, you begin to pay off both interest and principal.

These loans are especially popular with investors who plan to pay off the principal when the property is sold, having achieved capital growth.

Pros

- Lower regular repayments during the interest only period.
- If it is not a fixed rate loan, you have the flexibility to pay off, and often redraw, the principal at your convenience.

Cons

- At the end of the interest only period you have the same level of debt as when you started.
- If you're not able to extend your interest-only period, you could face the possibility of increased repayments.
- You could face a sudden increase in regular repayments at the end of the interest-only period.

E) Line of Credit

You can pay into and withdraw from your home loan every month, so long as you keep up the regular required repayments. Many people choose to have their salary paid into their line of credit account. This type of loan is good for people who want to maximise their income to pay off their mortgage quickly and/or who want maximum flexibility in their access to funds.

Pros

- You can use your income to help reduce interest charges and pay off your mortgage quicker.
- Provides great flexibility for you to access available funds.
- You can consolidate spending and debt management in a single account.

Cons

- Without proper monitoring and discipline, you won't pay off the principal and will continue to carry or increase your level of debt.
- Line of credit loans usually carry slightly higher interest rates.

F) Introductory/Honeymoon

Originally designed for first-home buyers, but now available more widely, introductory loans offer a discounted interest rate for the first six to 12 months, before the rate reverts to the usual variable interest rate.

Pros

- Lower regular repayments for an initial 'honeymoon' period.

Cons

- Loans may have restrictions, such as no redraw facilities, for the entire length of the loan.
- You may be locked into a period of higher interest rates at the expiry of the honeymoon period

G) Low doc

Popular with self-employed people, these loans require less documentation or proof of income than most, but often carry higher interest rates or require a larger deposit because of the perceived higher lender risk. In most cases you will be financially better off getting together full documentation for another type of loan. But if this isn't possible, a low doc loan may be a good option to secure the funds you need.

Pros

- Lower requirement for evidence of income.
- May overlook non-existent or poor credit rating.

Cons

- You will probably pay higher interest than with other home loan types, or may need a larger deposit, or both.

31/05/2026

Are you ready to purchase a new car but don't want to get hit with high interest rates from expensive car dealerships? Our team can help you secure fast, low-rate car finance to get you on the road.

Our partners also offer conditional approval for up to 60 days, giving you time to shop around and find your dream car.

30/05/2026

We have recently helped someone reduce their loan repayments by over $423 per month through refinancing their home loan and other debts.

In fact for the clients I see who are struggling with their mortgage and debt repayments, I regularly manage to save them hundreds of dollars per month.

In these uncertain times of interest rate changes most mortgage owners are now starting to consider their finance options.

Perhaps I can help you, like I was able to with many of your nearby residents.

If you require:
- reduced loan repayments,
- consolidation of debt,
- funds to renovate, install a pool or purchase a significant item,
- finance to purchase another property,
- parent equity guarantees to assist your children to purchase a property, or any other finance requirement

Please contact me for a free no obligation assessment of your current situation. https://www.mortgageaustralia.com.au

29/05/2026

Six Steps to becoming mortgage-free - Step 4: Offsets and Redraws
Would you like to cut your mortgage by years and pay less?

What if you could get your mortgage all wrapped up in record time, and spend more time doing the things you love?

Well, there are six steps you can take now, which will make a real difference to the time it takes to pay off your loan. You could be mortgage-free sooner than you think.

In the past weeks, we looked at Step 1: choosing the best loan, Step 2: changing your repayment frequency, and Step 3: Pay more to pay early.

Today, find out how offset accounts and redraw facilities can help you move quickly towards losing that mortgage forever.

Step 4: Offsets and Redraws

Do you have a savings account that you use to put money away for a rainy day? You might be surprised to learn that this can save you money on your home loan - even if you keep the money in savings. This is commonly referred to as an offset account.

Many lenders offer a 100% offset account which, when linked with your mortgage, can dramatically reduce the interest that you pay on your loan. The reason for this, is that the savings 'offset' what you owe, and you're only charged interest on your loan amount - minus your savings.

This can have a significant impact on your loan in the long term. For example, if you have a loan of $400k, and keep $30k in an offset account, you could save over $150k in interest over the life of your loan.

Another handy mortgage feature to look out for is a redraw facility. This allows you to make extra repayments on your loan whenever you want, but gives you the flexibility of taking that additional money back in the future if your plans change.

By taking advantage of offset accounts and redraw facilities, you can take control of your financial goals today, and pay your loan off sooner.

Want to escape your mortgage as soon as possible? Stay tuned for Step 5: Don't take candy from strangers.

29/05/2026

Make your house a home with a low cost home improvement loan.

28/05/2026

Another session of product and policy training. Staying up to date with the latest lender offers so we can offer them to you.

Gursimran Gill - Mortgage Broker in Harrisdale

13/06/2026

13/06/2026

10/06/2026

01/06/2026

01/06/2026

31/05/2026

30/05/2026

29/05/2026

29/05/2026

28/05/2026

Address

Website

Alerts

Contact The Business

Shortcuts

Featured

Share

Category