Abbey Accession Finance

27/10/2023

Thanks to Williams Real Estate - Williamstown for hosting a fabulous pink ribbon breakfast with over $2,000 being raised for NBCF.

The raffle prizes are always a reminder of the generous and lovely community we live in and it was lovely to see the support and the sea of pink.

And if you need a reminder- please check your breasts and book your mammogram 💕

19/10/2023

Enjoying the Sunshine with the team today . Team bonding is important to us and an afternoon in the sun is just what we love to do.

08/10/2023

Did you know we also help with Asset and personal finance.

At Accession Finance we have access to an extensive range of Asset and Personal finance lenders, so if you are looking to buy a new car, take a holiday or even consolidate some personal debt we can help.

Reach out to one of our experts via the link in the Bio

03/10/2023

There is one simple switch you can make to help you save on your mortgage.

If you switch your repayments from monthly to fortnightly or weekly you can shave almost 1 month per year off your mortgage.

This is due to the way that lenders calculate your repayments. There are 12 months in the year but there is 26 fortnights (not 24) and 52 weeks (not 48).

So to save money off your mortgage and pay your loan off quicker there is just one simple switch you can make to help you on your way.

03/10/2023

The Reserve Bank of Australia (RBA) announced the cash rate will remain unchanged at 4.10% after its monetary policy meeting today.

Although this is a relief for home owners, future rate increases have not been ruled out

With so much uncertainty about interest rates, it can help to talk to an expert. Contact us if you'd like to discuss your options.

10/09/2023

One of the main questions we have is "What is the difference between an offset and redraw account"

Both offset and redraw facilities can:

👉 Help reduce the interest you pay on your loan

👉 Help you pay your home loan quicker

👉Are available on most home loan products

Ok, Lets break it down

An offset account is a separate deposit account. You can have your employer deposit your salary into it and you can transfer money in from other accounts. If you want, you can use your offset account for everyday spending like groceries and bills by using a debit card

By contrast, a redraw facility is not a separate account but a feature attached to your loan. It allows you to draw back additional payments (the amount above your scheduled payments) you have made on the loan. A redraw facility may not be as flexible as an offset account. For example, you may not have the option to redraw money from an ATM or transact using a debit card.

If you need help deciding what would work best for you, reach out to our experts for a quick mortgage health check.

05/09/2023

The Reserve Bank of Australia (RBA) announced the cash rate will remain unchanged at 4.10% after its monetary policy meeting today.

This marks the third consecutive meeting at which the cash rate has been held.

The decision was in line with expectations, as it comes shortly after the Australian Bureau of Statistics released data showing annual inflation has slowed since June

Although this is a relief for home owners, furture rate increases have not been ruled out

With so much uncertainty about interest rates, it can help to talk to an expert. Contact us if you'd like to discuss your options.

23/08/2023

Is your Interest-Only (IO) period ending soon? Interest-only loans are favoured by many property investors, but did you know that 1 in 4 IO loans are currently held by owner-occupiers?

At the start of 2022, ASIC estimated that $500 billion in IO mortgage agreements (equivalent to 200,000 odd loans) were set to revert to Principle and Interest (P&I) agreements by the end of 2023. At the time, the RBA estimated that the median payment increase will be around $7000 a year. Since then, that has risen to about $13,000!

For some people, extending the interest-only loan period may be an option due to the capital growth of their property. But with home prices in a current state of flux, not all lenders are offering an extension option. So, if your IO period is coming to an end, and P&I repayments are on the horizon, do you have any options?

Always!

🏡 Apply for an IO extension from your current lender
🏡 Refinancing to another IO loan with a new lender
🏡 Start paying back the principal loan
🏡 Refinance to a P&I loan with a lower interest rate
🏡 Speak to your lender about seeking hardship help if you’re really struggling!

And who can help you decide which option is best for you? A mortgage broker can look at your financial situation and provide a clear path forward from the options above based on your circumstances.

Is your IO loan ending in the second half of 2023? Now is the time to act. Call us or book a time to chat now!

https://www.accessionfinance.com.au/

21/08/2023

Applying for a loan (whether for the first time or refinancing) can be incredibly stressful. Getting your paperwork together, ensuring that you’re meeting each lender's application requirements and then navigating the wait times and follow-up requests can make the process a complete headache.

But one of the biggest challenges pre-application is something that causes an even larger bottleneck to the process - and is usually the reason most people either don’t succeed or end up choosing the wrong option…

Researching all of the lender and loan options available!

There are a myriad of loan products available in the market and finding the right fit for your unique needs is imperative. Throughout our extensive time in the industry, we have built strong relationships and been qualified with a diverse range of lenders. Much more than most! This advantage benefits you, as we can secure different loans for various purposes, tailored to your specific requirements.

Our team is dedicated to providing personalised solutions that match your financial goals and circumstances. We streamline the process, making it as smooth and stress-free as possible. You can count on us to guide you every step of the way, from application to approval 💼 🤝

Don't let the uncertainty of loan approval hold you back. Put your trust in the team at Accession Finance, and let's make your financial dreams a reality!

https://www.accessionfinance.com.au/book-online

17/08/2023

While we take pride in being your trusted mortgage broker, we understand that a successful financial journey requires a holistic approach.

That's why we have worked hard to establish a network of reputable buyers advocates, conveyancers, accountants, and financial planners - so we can pass on the benefit of their knowledge to you!

And by staying firmly in *our* lane, we are able to continue being the very best at what we do. Providing you with unparalleled, industry-award-winning mortgage solutions tailored to your needs!

Who can we connect you with?

👉🏼 Buyers Advocates to find you the perfect property
👉🏼 Conveyancers to handle all the legal transaction
👉🏼 Accountants to help with tax planning & reporting
👉🏼 Financial planners to help you achieve your goals

At Accession Finance, we believe in the power of collaboration and building strong partnerships within the property finance industry. Want access to our trusted list of financial and property experts?

Just get in touch with us today!

https://www.accessionfinance.com.au/book-online

14/08/2023

07/08/2023

The 2020 pandemic saw a boom in fixed-rate borrowing, as lenders slashed their fixed rates to record-low levels and many borrowers took advantage. At the peak, almost 40% of outstanding home loans in early 2022 were fixed, which was “roughly twice their usual share from prior to 2020,” according to a research paper published by the Reserve Bank of Australia (RBA).

2023 is a completely different mortgage environment than 2020 was though.

There is currently a significant shift happening, with many homeowners coming off (or set to come off) 2 or 3-year fixed-rate loan agreements, and reverting to variable rates loans with *much* higher interest rates and repayment requirements.

By the end of this year, 65% of fixed-rate loans outstanding in early 2022 will have expired. And by the end of 2024, another 20%.

If you’re in this percentage, here are three tips we really want you to know…

❕ You may be able to refinance with a new lender with a more suitable fixed or variable rate, you just need to know what products are out there and whether you qualify

❕ And if this is the road you want to go down, limit your spending *now* to increase your chances of qualifying for a new loan

❕ With interest rates about to go up and coupled with the rising cost of living, it’s imperative that you start budgeting for higher mortgage repayments regardless. A new loan will still most likely see a repayment increase from your current fixed rate.

Have questions or what to know about the current best mortgage products on the market? Give us a call today.