Home loan deposits are a lot, right? All those zeroes and decimal places. You save and save but sometimes the goalposts move, or you have to make an unexpected trip home, or you just really needed that jacket and it was on sale. The good news is, we understand it’s tough to save, especially when you really love all three of your streaming services. We want you to walk up your street and be filled with happiness at the sight of your own place. We want to see you in your comfy new living room. We want you to feel settled while you binge Game of Thrones. And we’re good at maths, so we know it’s way easier to save 5%. That’s why we let you borrow up to 95% of the value of your chosen property. But here’s the best part. Your deposit doesn’t have to all come from […]

Welcome to the Spring edition of Simply Living. In this edition, we take a look at the new era of Open Banking and what that means to you. We also take a dive into the current reality for first home buys, and whether now is a good time to enter the market. Finally, we take a look at ways in which you can strike a balance between both residential and commercial property as part of a wealth creation strategy, by way of mixed use property investment. Now you own your data: the new world of ‘open banking’ explained.The promise of open banking is big; a new, simpler way to share your personal financial data between banks, lenders and financial companies. It started on July 1. Here’s how it works and what it means to take back control of your data to get the best rates and offers. Read more Low rates, […]

Commercial real estate is facing a watershed moment as a result of the COVID-19 pandemic. But the virus is not the only force, notably the mass adoption of disruptive technologies and the wholesale change in work practices all over the world – which was already occurring. Source: Cognian Not only is the way we use buildings permanently changing, there is a health and wellbeing imperative that now simply can’t be ignored. “Not everyone wants the workplace to return to exactly where it was before the pandemic took hold.” A seminal shift can be observed in the way smart building technology is being positioned, expanding from an environmental focus to incorporate the health and wellbeing imperative. When it comes to building monitoring and controls, near enough just isn’t good enough anymore. Accurate hygiene, automated doors, and capacity analysis will be the critical bottom line in a world where society is questioning […]

Conduct is fundamentally about how people behave. We’re mostly conditioned from a young age to recognise and demonstrate appropriate behaviour, whether individually or as part of a group. We sometimes suppress these fundamental lessons learned, especially when we’re in a pattern or routine of doing things a certain way. But these lessons and expectations are always there. We need to be attuned to them and have the confidence to challenge others’ behaviour and to question existing and poor practices. “There’s been a shift for individuals at all levels of the financial services industry to be responsible and accountable for their own conduct.” This is important because poor conduct is not always intentional. It can, for example, stem from inadvertent practices such as not taking care when disposing of confidential material or taking shortcuts through set procedures. A robust conduct risk framework should be embedded in the fabric of all financial institutions. It should […]

Paula Evans, owner of boutique Tierra Alma in beachside Mordialloc, didn’t need the Australian Bureau of Statistics to tell her about the epic economic pain of Melbourne’s August lockdown. Key points: Payroll jobs fell 1 per cent around the nation, but 2.8 per cent in Victoria, in the month to August 8 Melbourne entered tough stage 4 coronavirus restrictions on August 2, with the rest of Victoria on stage 3 restrictions Economist Terry Rawnsley warns the job losses outside Victoria now reflect the COVID recession, not the social distancing restrictions “It’s been a really huge impact this time around with the stage 4 hitting Melbourne,” she said. “I would say my business is down by 70 per cent.” New data submitted to the Australian Tax Office (ATO) from payroll systems around the country show jobs fell 1 per cent in the month to August 8. But in Victoria, the hit […]

Mixed use properties offer a way to invest in both the residential and commercial property markets. While commercial loans often have higher interest rates than a home loan, the current low-rate environment and high rates of return could mean now’s your time to consider the pros and cons of mixed use property investment. When a property has been zoned as suitable for more than one purpose, chances are it needs to be financed using a mixed use property loan. This type of property is most commonly a mix of residential and commercial – a ground floor business with an apartment above it, for example.  Traditionally, mixed use property investment has been seen as riskier and more complicated than properties that are one specific type. However, the upside is that commercial properties tend to offer higher rental returns – recently yielding a 7% average return, as compared to 3.9% for residential.  Whether you’re […]