Erik Ung - Prime Group Lending

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Erik Ung - Prime Group Lending

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Erik Ung, Mortgage Broker based in Sydney, servicing clients in Australia.

19/10/2026

That $20k car loan could cost you $50,000 when you go to buy a house.

Not in interest. In borrowing power.

Lenders don’t look at what you owe on the car. They look at the monthly repayment. Every $100 a month in repayments cuts roughly $12,000 from what you can borrow for a home.

📉 $10k car loan: about $25k less borrowing power
📉 $20k car loan: about $50k less
📉 $30k car loan: about $76k less
📉 $45k car loan: about $114k less

And the twist: paying the same $20k car off faster, over 3 years instead of 5, makes the hit bigger, at about $77k. A higher monthly repayment means a bigger hit, even though you’re clearing the debt sooner.

None of this means don’t buy the car. It means get the order right. If a home purchase is on the cards in the next year, run the numbers before you sign at the dealership, not after.

Buying a car and a home in the next 12 months? Send this to someone before they sign 👇

Estimates. Car loan at 9% p.a. Home loan assessed at 9.25% over 30 years. Lenders and circumstances vary. General information only.

16/10/2026

In 2010, the median Sydney house cost about 11 years of the average wage. Today it costs 21.

Since 2010, house prices have gone from roughly $600k to $1.73M, up 189%. Average earnings went from $55k to $82k, up 50%.

If house prices had only kept pace with wages, the median Sydney house would be about $902k today.

That gap is why buying feels so much harder than it did for our parents, or even for people who bought 10 years ago. It isn’t about skipping smashed avo or working harder. The maths changed underneath everyone.

The gap is real, but it isn’t the whole story. People still buy every week, through family help, government schemes, buying with a partner or friend, or starting with an investment property instead of a home. The path just looks different now.

Bought before 2015, or still saving? Comment BEFORE or SAVING 👇

12/10/2026

$186,833 or $3,056.

Two people switch to weekly repayments. Same $700k loan, same 6.20% rate, same 30 years. One saves $186,833 and finishes 5.6 years early. The other saves $3,056.

The only difference is how the bank worked out the weekly amount.

➗4: they take your monthly repayment and divide it by 4. That’s $1,072 a week. There are 52 weeks in a year, not 48, so you end up making 13 monthly repayments a year instead of 12 without noticing. That extra one goes straight off the principal.

✖️12➗52: they spread exactly 12 monthly repayments across 52 weeks. That’s $989 a week. It feels like weekly, but you’re paying the same amount as before. The small saving only comes from interest being worked out a little more often.

The gap between the two is about $83 a week, and over the life of the loan it’s worth $183,000.

Open your banking app, take your weekly repayment and multiply it by 4. If that matches your monthly figure, you’re on ➗4. If it comes in under, you’re on ✖️12➗52.

Comment which one you’re on 👇 If you’re not sure, send us a DM and we’ll check it for you.

Illustrative example: $700k loan at 6.20% P&I over 30 years. General information only, not personal advice. Prime Group Lending.

09/10/2026

A recent first home buyer came to us with a lot of questions and not much time.

We answered every one of them, including the ones that came in after hours. From pre-approval to settlement, she said the whole process felt smooth and stress-free.

If you’re saving for a deposit, unsure what you can borrow, or tired of missing out at auctions, you don’t need to figure it all out alone.

One conversation can map out your numbers, your options and your plan.

DM “FIRST HOME” to start yours. No cost, no obligation.

06/10/2026

$800k in Sydney. Here's what it actually gets you right now.

Only 2 suburbs in the entire city had a median under that number in the last 12 months. Parramatta and Blacktown.

Everyone else? You're going in short.

The gap between where people think they can buy and where they actually can is one of the most common conversations I have. Budget is one part of it. Structure, scheme eligibility, and lender appetite are the other parts most people don't think about until it's too late.

If $800k is your number, let's talk about what's actually possible before you start auctions.

DM me.

02/10/2026

We asked 10 first home buyers what they wish they'd known before they applied.

Not one of them said "the interest rate."

The things that actually caught people off guard, credit card limits counted at zero balance, pre-approvals expiring, HECS cutting borrowing power, changing jobs mid-application.

These come up every single week.

If you're planning to buy in the next 6 to 12 months, DM me before you do anything else. A 20 minute conversation now can save you a lot of stress later.

Which one surprised you most? Comment the number.

28/09/2026

Your bank has one answer. We have 50+.
When you go directly to a bank, they assess your file against their own criteria and their own products. If it doesn't fit, you're done.
When you work with us, we look across 50+ lenders- majors, non-banks, specialist lenders and find the one whose policy actually suits your situation. Different income type, complex structure, tight timeline, past credit issue. There's usually a lender for it. You just need someone who knows where to look.
One conversation. Access to the whole market.

DM me or visit primegrouplending.com.au to get started.

21/09/2026

Most people know a higher rate costs more. Most people do not know how much more.

On a $700,000 loan over 30 years, a 1% difference in your interest rate costs an extra $51,000 in total repayments. That is not a small number. That is a holiday, a car, a year of school fees, or a decent chunk of your next property deposit.

The gap between what your bank is currently charging you and what is available in the market right now is often 0.3% to 0.6%. On a $700k loan that is $15,000 to $30,000 over the life of the loan sitting on the table.

If your loan has not been reviewed in the last 12 months, it is worth a conversation. Existing customers consistently pay more than new ones. Lenders count on inertia. One call to renegotiate or one refinance to the right lender can change the number materially.

DM or visit primegrouplending.com.au to find out what your rate should be.

18/09/2026

In 2015, 9.7% of Australian homes were valued above $1 million.

Today that figure is 34.4%.

That is a 3.5x increase in a decade. 3.1 million homes now sit above the $1 million mark. What was considered a luxury price point ten years ago is now the median in most Sydney suburbs.

What this means for buyers. The deposit required to avoid LMI on a $1 million property is $200,000. Ten years ago that conversation applied to a much smaller share of the market. Today it applies to more than a third of all Australian homes and virtually every property in metro Sydney.

What this means for owners. If your home has crossed the $1 million threshold, your equity position has likely changed significantly. That equity can be the foundation for your next purchase, an investment property, or a portfolio restructure.

The market has moved. Your strategy should too.

DM or visit primegrouplending.com.au to talk through what your equity position looks like right now.

Source: CoreLogic / PropTrack 2025.

14/09/2026

Fixed or variable. The question most people get wrong.

Most people approach it as a rate decision. It is actually a life decision.

Fixed rate gives you certainty. Your repayment does not move for the fixed term. That predictability is useful if you are on a tight budget or want to plan ahead. The trade-off is flexibility. Most fixed loans have break costs if you exit early, restrict extra repayments, and do not come with a full offset account. If you sell, refinance, or restructure during the fixed period, it can cost you.

Variable moves with the market. When rates fall you benefit without doing anything. You can make extra repayments freely, use a full offset account, and exit without break costs. The trade-off is certainty. Your repayment can rise, and not everyone can absorb that comfortably.

Four questions that point you in the right direction. Are you selling or refinancing in the next one to three years? Fixed is likely the wrong choice. Do you need a predictable monthly repayment? Fixed helps you plan. Could you absorb a 0.50% rate rise? If not, fixing gives you a buffer. Do you want to make extra repayments freely? Variable is the better fit.

Most people do not need to choose one entirely. Splitting is worth considering.

DM or visit primegrouplending.com.au to work out the right structure for your situation.

Address

Level 1, 44 Martin Place
Sydney, NSW
2000

Telephone

+61434128880

Website

http://www.primegrouplending.com.au/

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