Development and site acquisition specialist, Michael Bevan, appointed by McGrath Projects to address increased demand. The announcement of the appointment of development and site acquisition specialist, Michael Bevan to McGrath Projects reflects busy times ahead. Mr Bevan was appointed to the newly created role of General Manager – Developments. “We are seeing a renewed level of enquiry from development groups seeking both DA Approved and Raw Sites,” said Adam Sparkes, General Manager of McGrath Projects when he announced the appointment. At a glance: Past two years the general development market has seen a significant downturn in off-plan sales Latter part of 2019 the general residential markets recovery has seen the ‘developer’ community look at acquisitions again NSW State Planning also has mandated councils to produce a new Local Environmental Plan over the next two years “In particular smaller and medium size developers are increasingly on the lookout for redevelopment opportunities, many of whom are cashed buyers not […]

The latest CPI figures are showing a positive sign that official interest rates will not change, according to REIA. Today’s release of the December 2019 quarter CPI figures continues to be good news for home buyers and renters, said Adrian Kelly, president of the Real Estate Institute of Australia (REIA). The slight change in inflation data, Mr Kelly said home buyers can be assured the RBA won’t be increasing official interest rates at next Tuesday’s RBA meeting.  “The All Groups CPI, increased by 0.7% in the December quarter giving an annual increase of 1.8%. This is slightly up on the September quarter figures of 0.7 % and 1.7%, respectively,” said Mr Kelly.  “The annual changes for the analytical series of trimmed mean and for the weighted median were 1.6% and 1.3% respectively.  “The annual changes in the trimmed mean have been below 2% since December 2015 and for the weighted median […]

The Buy Now Pay Later sector is winning-over the youth demographic with the promise of instant gratification, but leading mortgage brokers are warning that with every sugar-high comes the risk of a corresponding low. ‘Buy Now Pay Later’ providers such as AfterPay and Zip Pay have experienced massive growth in popularity, with the number of users jumping from 400,000 to approximately 2 million between 2015 and 2018. Driven by a simple proposition whereby the Buy Now Pay Later provider pays the merchant on behalf of the customer, allowing the customer to obtain the goods or receive a service immediately while subsequently paying off the debt generally through instalments, Buy Now Pay Later presents a tempting offering. But as the sector’s breakneck growth continues, mortgage professionals are warning users, particularly in the younger demographic, to be cautious of overdoing it as this could risk effecting their chances of securing a home […]

In this Summer edition of Simply Living, we explore some of the key considerations in the RBA’s decision-making process as it relates to setting the cash rate, as well as consider for parents when contemplating loaning money to their children to help out with purchasing a home. And finally, we look at ways in which a home loan can be paid off sooner. Click here to view the Newsletter

According to 2016 Deloitte research, prospective home buyers are using mortgage brokers to secure home loans because they expect brokers will save them money and assist them through the home loan application process. If you decide a broker is for you, you’ll engage with them in a number of key stages throughout the application process and beyond. Before application Your broker will consult with you to establish your financial and lifestyle goals, responsibilities and commitments. You may have an idea in your mind of what you want, and the first meeting with a broker can help you refine this and develop an action plan to make your aspirations a reality. After reviewing your financial circumstances, your broker can determine your borrowing capacity and they can outline repayment scenarios. They must make reasonable enquiries to check if proposed products are suitable for you. They can also put you in touch with a […]

Many mortgage brokers can help with your home loan and your business loan. There are several types of commercial and asset finance, so make sure you know the differences. Then you can decide which one will suit you. What is commercial finance? Commercial finance is an umbrella term for different kinds of business loans. They’re designed to help manage your capital and cash flow. Types of commercial finance Business overdraft: Your financial institution allows you to overdraw your existing business account up to an approved limit. You can only access the overdraft after your own funds have been used. The lender charges interest on the overdrawn amount. Businesses often use overdrafts as small loans, usually to cover cash flow gaps. Line of credit: A long-term arrangement between a business and a lender, where the business can access funds up to an approved limit. The business may borrow all or part of the […]