SME Finance Group

26/09/2024

Earlier this month has seen one of the busiest weeks for auctions since May, with 2700 homes scheduled to go under the hammer, according to PropTrack.

The surge in auction activity could signal a robust period for the real estate market. Investors and homebuyers should consider this a prime time to explore the market for potential gems.

Our team can help navigate through these busy times and identify strategic buying or selling opportunities Get in touch with us to leverage this bustling auction market: Michael Pratt: 0417 335 488, Gianni Gr***de: 0400 220 008 or email [email protected]

24/09/2024

23/09/2024

Banking Shake-Up: More Options, Better Services

Several of the larger banks are now returning to the market with discounts on certain products, but the smaller and more nimble regional banks are still very competitive options.

The big banks are slow and cumbersome, they are very much 'tick a box' mentality, whereas the small regional banks provide a much better service, usually with a better result and always deliver within the expected time frame. It’s crucial for consumers to review their banking relationships and consider whether a switch could provide better financial advantages.

Let us help you navigate these new banking options for optimal financial health. Contact us to discuss your scenario: Michael Pratt: 0417 335 488 Gianni Gr***de: 0400 220 008 or email [email protected]

19/09/2024

Property prices have risen just 15.5 per cent in Melbourne since the start of the Covid pandemic.

Investors in Melbourne are selling up at the highest rate of any of our major capital cities to avoid hefty property taxes, which has led to falling prices across the city. In what was once the nation’s second-most expensive city, prices have risen just 15.5 per cent since the start of the pandemic.

New properties coming to market is 31 per cent above the prior five-year average. Understanding these dynamics is key to making informed decisions whether you're looking to buy or sell.

With decades of experience and a keen eye on market trends, we're here to help you make the most informed decisions. Contact Michael Pratt at 0417 335 488 or Gianni Gr***de at 0400 220 008, or email us at [email protected] to secure a free consultation.

17/09/2024

An oversupply of housing stock paired with softened property values has created an ideal spring market for buyers. This environment may serve as the perfect moment for potential homeowners and investors to purchase properties at favourable prices. If you're considering capitalising on the current market conditions, we're here to assist with insightful market analysis and strategic investment advice.

Our expertise in local market trends and tax implications ensures that you can make informed decisions to optimise your property investments. Whether you're looking to buy, sell, or simply understand the evolving market landscape, our team is here to help guide you through every step.

Contact us today to explore your options and strategically navigate Melbourne's property market: Michael Pratt: 0417 335 488 Gianni Gr***de: 0400 220 008 Email: [email protected]

12/09/2024

Research and comparison site Canstar’s database shows a host of changes by banks this year to bolster the profitability of their credit card businesses. If you have credit cards, try to consolidate your debt or contact the provider to request a better interest rate. It’s imperative to stay ahead of these developments to manage your financial commitments effectively without falling into high-cost traps."

Consult with us to optimise your credit strategies in this evolving market. Our experts are here to help optimise your financial strategies: Michael Pratt: 0417 335 488 Gianni Gr***de: 0400 220 008 or email [email protected].

10/09/2024

Credit Card Dependency: A Solution or a Sign of Distress?

This is a real concern for borrowers who are struggling with the overall cost of living; as a rule, borrowers will normally try to retain the family home at all costs. SME Finance Group has been assisting several of our clients with employees who have been struggling to pay their mortgage on the family home; we have had some great results by refinancing to take some pressure off.

If you know anyone who is stressed about the cost of living to pay their mortgage, they need to contact their bank and request 'hardship'. Or please ask them to contact our office. We would also offer to assist where possible. Our team is dedicated to finding viable financial solutions that prevent the need for drastic measures like using credit cards for mortgage payments.

Contact Michael Pratt at 0417 335 488 or Gianni Gr***de at 0400 220 008, or email us at [email protected] for a consultation.

21/08/2024

Gianni Gr***de - Mortgage Broker scores another great review from a happy client. Well done Gianni Gr***de - Mortgage Broker
SME Finance Group Michael David

21/08/2024

Another great review from a happy client.

29/07/2024

Is this happening to you?

We had a call recently from a long-term client who owns a high-profile hospitality investment property in Queensland; they have owned the property for nearly 20 years with the same tenant. The client went on to say the current financier is Bank of Melbourne; the facility is expiring shortly; they called the bank over 4 months ago to roll it over – Not a difficult problem.

After 4 or 5 different people contacting the client from the bank asking questions about the rollover, with no indication if they were going to extend the facility, he called our office in sheer frustration to see if we could assist him on the rollover.

The following happened:
- An application was taken with details of the loan and property
- We spoke with a possible new financier who dropped in the next day
- The information was sent to them immediately
- Conversations back and forth about the rate, term and LVR, etc
- An indicative letter of offer issued for the client
- A few more conversations about the conditions
- An indicative letter signed with the application fee paid
- The new financier increased the facility by almost $400k

All this happened in under 21 days; the interest rate was slightly higher by .3%, not a great deal under the circumstances, especially considering the cash-out increase.

If this sounds familiar, contact our office for immediate assistance –
Michael Pratt - [email protected] or 03 8825 8888

11/07/2024

🔋 Risks & Safety Measures of Lithium-Ion Batteries

Lithium-Ion batteries have seamlessly become an integral part of our daily lives, powering our mobile phones, laptops, scooters, golf carts and electric vehicles. As the demand surges, the global market for these batteries is set to skyrocket even further, with an anticipated 30% annual growth until 2030, primarily driven by the growing use of electric vehicles.

The allure of lithium-ion batteries is understandable - they are compact, lightweight, and boast high energy density and longevity. However, with their growing popularity, Australia is also seeing an increase in lithium-ion battery fires. With more than 1,000 fires in Australia over the past year, many are questioning just how safe lithium-ion batteries are.

How to safely manage lithium-ion batteries
You may be surprised to learn just how many electronic items use lithium-ion batteries, including digital cameras, smart phones, laptops, watches, vapes, portable power packs, solar energy storage, electric vehicles, bikes and scooters, and even medical devices such as pacemakers. It is estimated that each household will have an average of 33 items powered by lithium-ion batteries by 2026. If your electronic item is rechargeable, there's a good chance it has a lithium-ion battery to power it.

Here are some important tips to follow to reduce your risk of fire:
1. Charge batteries on hard surfaces that won't ignite, such as tiles or concrete
2. Store and charge large batteries such as those found in e-bikes and e-scooters, power tools etc in the garage, away from living areas
3. Do not charge batteries while sleeping or unattended
Once the device is fully charged, unplug from the charger
4. Only use chargers that have been manufactured by the same company as the device, and are made for that type of device - just because the charger fits, doesn't mean it has the right technology.
5. Only use chargers that have the Australian Regulatory Compliance Mark Tick
6. Purchase electronic items from reputable companies as they are more likely to meet safety standards, use high quality materials, and adopt leading technology, and on the off chance there is a fault in the model, they will issue a product recall.
7. Don’t use and charge batteries that are swelling or bulging, leaking, or overheating.
8. Don't use and charge the device if it is cracked, dented, punctured, or crushed
9. Don't put them in your regular household waste, take them to a specialised recycling centre

Article supplied by Jim Malady – Corporate authorised representative – Coverforce Insurance. Jim can be contacted on 0418 334 685 - [email protected]

08/07/2024

Major Enhancements to Banking Protections Set to Benefit Small Businesses

Exciting news for small business owners! ASIC has announced important enhancements to the banking code of practice, set to commence in February 2025. These changes promise to extend protections to more small businesses and increase support for those struggling financially.

Key updates include:
1. Expansion of small business eligibility: The definition of a small business will increase from $3m to $5m in aggregate borrowings, bringing another 10,000 businesses under the protection of the code.
2. Enhanced support for financial difficulties: The definition has been broadened, ensuring more comprehensive support.
3. New provisions for deceased estates: Strengthening the support for handling finances during challenging times.

These enhancements are part of the ongoing efforts to implement recommendations from the 2019 Hayne Royal Commission, reflecting a shift towards greater support and fairness in banking practices.

Is your business prepared to benefit from these new protections? Contact us now for a free consultation to understand how these changes can impact your business financing and protect your interests.