Initial Finance

Initial Finance Initial Finance Group is a dynamic financial services provider based in Sydney and Sunshine Coast.

21/12/2024

5 signs it may be time to refinance:
1. You’ve built more equity
2. Your interest rate is too high
3. You want to consolidate debt
4. You’re planning a big life change
5. Your loan features don’t suit your needs

Are you paying more on your mortgage than you should? These five signs might mean it’s time to refinance and save yourself some serious cash.

Whether it’s an outdated interest rate or an upcoming life change, we’ll help you explore your refinancing options. Don’t wait for the rates to change – let’s review your loan today.

DM us to start the conversation!

📱 1300 438 434

If you're thinking about investing in property, you may have come across the term 'cross-collateralisation'.What it mean...
19/12/2024

If you're thinking about investing in property, you may have come across the term 'cross-collateralisation'.

What it means is that you use more than one property as security for your mortgage, instead of the usual one property (i.e. the property that you're buying).

What this could look like, as an example, is if you owned your $1M home outright (congratulations!) and you wanted to buy a $500k investment property, but didn't have the 20% cash deposit, you could offer your $1M home as security.

This would mean you'd be borrowing $500k and that this loan would be secured against two properties worth $1.5M in total, meaning you wouldn't need to pay lenders mortgage insurance.

Like anything, there are pros and cons to this approach. Get in touch for help understanding the risks and how to optimise your lending products.

📱 1300 438 434

We know the cash rate has been on hold for several months, and most experts are predicting the cash rate will start to d...
17/12/2024

We know the cash rate has been on hold for several months, and most experts are predicting the cash rate will start to drop towards the end of the year.

Many banks have responded by lowering their rates.

By staying up to date with rates, you’ll know if you’re paying too much, and you’ll have leverage to negotiate with your lender.

Get in touch if you'd like to understand your options.

📱 1300 438 434

Budgeting gets a bad rap.The very word conjures up images of spreadsheets, having to save receipts, track every purchase...
15/12/2024

Budgeting gets a bad rap.

The very word conjures up images of spreadsheets, having to save receipts, track every purchase, and generally kiss goodbye to any remotely frivolous (i.e. fun!) spending.

So, the 80:20 ratio is a refreshing approach to budgeting.

Simply, it means diverting 20% of your income to savings, and then spending the other 80% however you like.

Tell us your favourite budgeting hacks in the comments!

📱 1300 438 434

Ready to own a home but not sure where to start? It’s as easy as 1-2-3 with the right guidance.Step 1 – Plan: work out h...
14/12/2024

Ready to own a home but not sure where to start? It’s as easy as 1-2-3 with the right guidance.
Step 1 – Plan: work out how much you can borrow, what deposit you'll need and get pre-approval.
Step 2 – Apply: Secure a home loan that will service your best interests.
Step 3 – Enjoy: Settle in and start building equity in your dream home.

Want to fast-track this process? We’ll handle the details so you can focus on finding the perfect place. Let’s make it happen.

📱 1300 438 434

An exit strategy is basically a backup plan to give the lender assurance you'll be able to pay back the entire loan by t...
12/12/2024

An exit strategy is basically a backup plan to give the lender assurance you'll be able to pay back the entire loan by the end of the loan term – usually 30 years.

If you're securing finance later in life and are closer to retirement, the lender will want to understand how you'll be able to pay back the loan once you stop working.

Possible exit strategies include:
- Selling an investment
- Downsizing the property
- Using superannuation
- Relying on a passive income source

So, if you're worried you're too old to secure finance, speak to us to understand your options. Where there's a will, there's a way!

📱 1300 438 434

Sure, you could spend your weekend trawling the internet, comparing interest rates, completing paperwork, plugging your ...
09/12/2024

Sure, you could spend your weekend trawling the internet, comparing interest rates, completing paperwork, plugging your details into calculators…or you could find a professional to do it for you.

'Time isn't the main thing. It's the only thing' - Miles Davis.

📱 1300 438 434

The cash rate rises aren't just affecting people who already have a mortgage.If you have plans to enter the property mar...
08/12/2024

The cash rate rises aren't just affecting people who already have a mortgage.

If you have plans to enter the property market you may have noticed that your borrowing power has dropped significantly in the past 12 months.

This is because the higher the interest rate, the higher the monthly repayments. And, thanks to APRA guidelines, when calculating whether you'll be able to afford your loan repayments banks also need to add a 3% buffer.

Back in early 2022 when the cash rate was low and interest rates were around 2%, banks would calculate your borrowing capacity based on whether you could afford repayments on a 5% home loan (roughly speaking).

Fast forward to now, where the average interest rate is around 6%, the banks are calculating your ability to afford repayments based on a 9% interest rate! Note that we've rounded these figures, but you get the idea.

There are of course ways to improve your borrowing capacity, while making sure you only borrow what you can afford. Get in touch to start making a plan today.

📱 1300 438 434

If you've only recently purchased your home, you may not have built up much equity in your property. This can sometimes ...
05/12/2024

If you've only recently purchased your home, you may not have built up much equity in your property.

This can sometimes make it harder to refinance to another lender.

Here's what to do:
1. Speak with us
2. Explore your options with other banks
3. Keep your credit file healthy – this means not applying for credit until the refinance has been approved

Get in touch to explore your options.

📱 1300 438 434

Shelter is a fundamental human need, but owning a home goes beyond this. It's about security and comfort. It's having a ...
04/12/2024

Shelter is a fundamental human need, but owning a home goes beyond this.

It's about security and comfort.

It's having a safe place to spend quality time with friends and family.

It's the confidence and satisfaction that comes from achieving a big goal.

And it's why we're so passionate about making sure your home loan never feels like a burden.

We do this by:
– Helping you borrow only what you can comfortably afford to pay back.
– Educating you on which features will enhance your situation.
– Being here to refine your solution as your needs change.

If you want to buy your first home, or your next home, we want to help you do it right. Reach out to book a meeting with us.

📱 1300 438 434

The 'best' home loan is the one that factors in your current situation, needs, and lifestyle and which will help you ach...
01/12/2024

The 'best' home loan is the one that factors in your current situation, needs, and lifestyle and which will help you achieve your goals.

With more than 30 lenders on our panel, there's no one-size-fits-all home loan.

Get in touch to explore your options.

📱 1300 438 434

There aren't many more months until Christmas, but why not close this year out with a bang – and in your new home?Here’s...
29/11/2024

There aren't many more months until Christmas, but why not close this year out with a bang – and in your new home?

Here’s how we work together: we handle all the paperwork and guide you through the entire mortgage maze, from start to finish. We’re talking strategy, research, loan applications, lender negotiations, liaising with your conveyancer – the works.

We save you time, cut the hassle, and give you the peace of mind that comes with knowing a professional has your back.

Ready to make it happen? Get in touch and let's explore your options.

📱 1300 438 434

Address

67 Kimberley Road Hurstville NSW
Randwick, NSW
2220

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 9pm
Wednesday 9am - 9pm
Thursday 7am - 9pm
Friday 7am - 8pm
Saturday 9am - 8pm

Telephone

+61413033998

Website

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