Miraj Financial Solutions Pty Ltd

17/12/2013

Start a life-changing conversation with a MFAA Approved Credit Adviser

17/12/2013

17/12/2013

How much deposit do I need for a home loan? - Usually 20-30%.

Traditionally, you need at least 20% deposit to get a home loan.

Loan to value ratio (LVR) – what the lenders look at
• LVR is the loan amount divided by the value of the property.
• If buying a property priced at $200,000 & you need to borrow $160,000.
• The LVR is 80% (160k/200k).

The critical LVR – 80%
• The critical LVR as lenders are concerned is 80%.
• If LVR is greater than 80%, you are required to pay lenders mortgage insurance (LMI).

Lenders mortgage insurance (LMI) – what is it?
• Lenders mortgage insurance provides protection to the lender if you default on your home loan.
• LMI is paid for by the borrower.
• It’s a one-off charge that gets included in your loan or paid upfront.

Lenders mortgage insurance (LMI) – owning a home sooner
• You might not like to pay lenders mortgage insurance.
• But LMI allows people with less than 20% deposit to get into housing market sooner.

No deposit home loans or high LVR home loans
• You may have heard about no or low deposit home loans.
• No or low deposit home loans are where lender funds most or the entire purchase price.
• You will have to pay lenders mortgage insurance.
• To learn more about home loan deposits, talk to an MFAA member today.

20/07/2013

https://www.servicecentral.com.au/article/construction-how-to-get-sand-to-the-4th-floor-when-your-ladder-only-reaches-the-3rd-floor/2264/

You will not believe your eyes when you see what this tradie does to get his bucket of sand to the 4th floor of this construction site. Watching him climb his home made ladder is scary enough, but...

13/03/2013

Property market to strengthen – per survey

Survey conducted by Nine Rewards and RP Data;
• 38 per cent of Australians expect housing prices to rise over the coming 6 months while
• 51 per cent expect prices to rise over the coming 12 months.

Similar survey conducted in October 2012 showed that;
• 33 per cent expected home prices to rise over six months &
• 42 per cent expected to see a rise over 12 months.

Latest data show a substantial upward shift in consumer expectations for housing market conditions.

When asked whether now was a good time to buy a property or home?
• 80 per cent of survey participants agreed whilst
• 76 per cent agreed in the October 2012 survey.

“As consumer confidence rises, we are likely to see a larger number of dwelling sales as the year progresses. Transaction data from last year were showing an improvement;
• 7.6 per cent more homes transacted in the second half of 2012 compared with first half.

01/03/2013

Looking for MV, Equipment financing?

We can help you finance your MV & Business Equipment needs.

Our expertise includes;
Sourcing a funder,
Completing your application &
Submitting application to chosen lender on your behalf.

01/03/2013

LOOKING TO GET INTO YOUR DREAM HOME?

As an Accredited Mortgage Broker, we can search over
700 loan options from 30 lenders.

This free service includes helping you complete your application
and submission to your chosen lender.

Naturally, standard lender and application fees apply.

08/01/2013

SHOULD I FIX or STAY ON VARIABLE????

Borrowers on variable rate loans have potentially missed out on thousands of dollars of savings.

Since Nov'11, RBA has dropped rates six times, by 175 basis points. But variable loan rates, however, fell by 133 basis points on average.

The 42 basis point discrepancy is worth $80/month for a $300,000 home loan.

Even though variable home loans have been falling for more than a year, many borrowers missed out on further savings because lenders didn’t pass on rate cuts in full.

While further relief may be in sight, borrowers need to focus on the rate they are paying. Compare it online to the rest of the market and re-negotiate or switch to a better deal.

Call me on 0488 558 328 to review your current loan against other loan offers in the market place.

08/01/2013

Effective 1st Jan'13, First Home Buyers are eligible to a further 10% concession on Stamp Duty for properties below $600,000.

19/12/2012

Demand for Victorian property to rise in 2013

Victoria should see an increase in property sales in 2013 as improving consumer sentiment and more affordable housing continues, the Real Estate Institute of Victoria reported.

Three reasons to be confident about prospects are:
1/ Consumer confidence levels are above this time last year;
2/ Clearance rate is higher than this time last year;
3/ Overall prices have been stable.

Affordability is at reasonable levels, with prices remaining below their peak and interest rates at historical lows.”

12/12/2012

· 5.37% - applicable for loans < 75% LVR*

· Application, std valuation & legal fees waived (for limited time)
$395 Annual Fee is waived for the life of the loan if