11 reasons why you should use a mortgage broker

Whether you're buying a new home, upgrading your existing home, or downsizing into something more manageable, there are many factors to consider when buying a home:

1. It’s free: mortgage brokers don’t charge you anything as they are paid directly by the lender.  It’s important to know that this does not mean that you end up paying more than if you went direct to the lender, it just means the lenders make smaller profits.  Why are they prepared to do this?  Because they rely on brokers to bring them business and it costs them less than having to employ staff themselves.
2. A good mortgage broker can save you money by finding a loan that better suits your needs from a large range of lenders.   Not only can we tell you which product from a particular lender is suitable for your situation, but we can also tell you what the competition is doing – not something that your local branch would share with you.  There are more ways to save money than just reducing the interest rate – the “cheapest” home loan isn’t necessarily the one with the lowest rate – similarly, “no ongoing fees” can cost you more in other ways. 
3. Mortgage brokers can save you time. It could take you weeks to research all the lenders to find the best loan and chances are you don’t really know what you should be looking for or comparing. In addition, have you dealt with a bank lately – it can be a frustrating and time-consuming exercise.
4. Convenience. Many mortgage brokers are available after hours so you don't need to be restricted to the bank hours – particularly helpful if you have a question whilst you are out house-hunting on a weekend.  What sets mortgage brokers apart from a bank is the service they deliver.
5. Simplicity. Mortgage brokers know the requirements of lenders and are able to streamline the loan application process by knowing which lenders are likely to consider your application favourably.
6. Better chance of approval. Experienced brokers have a good idea of the lenders more likely to be receptive to your particular situation especially where you have special circumstances (e.g. contracting, temporary residents, investors, etc). Brokers know how to best present your application to maximise the chance of approval. 
7. Follow-up service: A mortgage broker will follow up the loan to ensure the lender is able to meet your finance obligations. 
8. Mortgage brokers should liaise directly with your solicitor and outgoing lender (if refinancing) to ensure the transaction runs smoothly. 
9. Ongoing service. Mortgage brokers should offer you ongoing help due to the fact that the lending market changes constantly.  At a minimum, your broker should be doing a health-check on your home loan at an annual review.  This keeps you on top of changes to interest rates as well as packages available and features of loans. Additionally, refinancing your home loan can also open the way for you to consolidate debts, reduce costs and improve your cash flow. Instead of paying high interest rates on personal loans and credit cards, you can use the equity in your home and repay the debt quicker by taking advantage of the lower rates on home loans.
10. Complete service. A good mortgage broker should also be referring you to all the other professionals you will need if you are purchasing, for example; a solicitor/conveyancer, accountant, building inspector and also a financial planner if you need one. 
11. We will refer you to our trusted network of professionals with #referron www.referron.com 

Rates steady for now - looking to reduce in 6 weeks

Governor Michele Bullock and the Board of the Reseve Bank  have decided  holding rates steady for now at 3.85% after a 6:3 vote .

Reasons Given

• economic uncertainty and USA tariff worries 
• weak demand from consumers
• weaker employee productivity are causing a cut in business profit margins putting pressure on rising costs
• inflation at 2.9 per cent not quite at the 2.5 per cent target. RBAs key priorities are keeping employment strong and keeping inflation in check at a targeted 2.5%

The opportunity for you now!

Opportunity to refinance and reduce interest rates

Feel free to schedule a time to chat   https://rfrn.link/ivank

The Top 10 Sexy Tax Tips

Tax time is fast approaching in Oz - you have a week to prepare! 

Here are 10 Sexy Tax tips from  Peter Knight

.

1. Utilise the Instant Asset write off.

– You can claim up to $20,000 

- it needs to befirst used or installed by 30th June 2025.

2. Bring forward your expenses.

– If you’re spending money in the business over the next few months, bring it forward and get the tax deduction now.

If you have properties - with mortgages - consider prepaying interest and expenses ! 

3. Delay your invoicing.

– If you’re an invoicing business, see if you can delay sending out your invoices.

– But don’t cut yourself short for working capital.

4. Maximise your super contributions.

– Make sure you get the deduction for the full amount you’re entitled to.

– $30,000 limit this year.

– You can also catch up any shortfall from prior years, back to 2018–19.

5. Pay your subscription or membership fees

– Being part of a network is one of the most effective local area marketing strategies.

–Build your referral base and gain a tax deduction while you’re at it!

6. Repairs and maintenance.

– Get any repairs and maintenance jobs done by 30 June.

7. Office supplies.

– If it looks like you’ll need more supplies soon, you may as well pay for them now and get the tax deduction this year.

8. Donations.

– Supporting your favourite charity is a wonderful way of giving back to the community.

– Just check they are a registered charity and a deductible gift recipient (DGR).

9. Match capital gains with losses

– If you’ve made any gain on any investments, check if any other investments have had capital loss. Consider selling them - and if you think they will grow - buy them back!! 

– Capital gains can only be reduced by capital losses.

10. Prepayments.

– You can get a deduction for pre-payments you make this year.

– Things like local area marketing, advertising and other business expenses.

#Tax #TaxDeductions #Franchise #FranchiseBusiness #FranchiseOpportunity #FranchiseAccountantsNetwork #TheFranchiseAccountant#Profit

Why I love being a mortgage broker

Below is a story (of course names changed ) of why I love being a mortgage broker :)

“Sarah had just gone through a divorce, no full-time income, and two kids. The banks said no. I got her a solution in 14 days, and today she’s in her new place with her daughters. I didn’t just get her a loan—I gave her peace of mind.”

If you need a loan , are looking to refinance your mortgage , or need a loan  to buy your home or an investment property - give me a call :) 

www.bsifinance.com.au

A great way to build wealth and pay off your mortgage! …

Someone recently asked me:

“I’m about to sell my share of an investment property we bought long ago with a friend – should I pay off my home loan or roll it into another investment?”

After the sale of this property , and after CGT, they’re walking away with a solid chunk of cash.

My answer?  You can do both!!

Here’s the gem 💎

This is what you do:- 

1. First, use the proceeds to wipe out your home loan. This clears  your non-deductible debt !

2. Then, once your home is mortgage-free, let us revalue your home and tap into the equity to fund your next investment.

Now, instead of personal / non taxable debt, you’ve got tax-deductible investment debt — 

with OPM (other people’s money )  working to build you wealth

 That’s the foundation of a solid debt recycling strategy.

You’re not stuck juggling old loans. You’ve hit reset: 

• no owner-occupier non detectable debt, 
• access to capital, and 
• a clean structure to grow your wealth more efficiently.

As Robert Kyasaki from “Rich Dad Poor Dad” says 

“Debt is good — as long as it’s working for you . 

The key is in how you structure it.

Need help figuring this out?

Contact me at www.bsifinance.com.au — and let’s build a strategy together to help you grow your wealth through “good tax deductable debt”

Opportunity to invest in sub $million

So what are the ramifications for  an interest rate fall?

❓Has it something to do with the monumental housing shortage?

We need houses - and rate drop will increase demand for housing …. But may also boost supply !

❓Will rate drop  encourage investors and developers back into the market to  build houses, confident that prices will keep going up as rates fall? 

Maybe 

❓Will reduction of rates help with the High construction costs and delays getting permits to build more houses ?

Not sure ! 

💎Demand is increasing for units and sub $million houses 

First home buyers get in with a 5% deposit and no lenders mortgage insurance. 

And this money will be firmly directed like a blow torch on properties in the sub million dollar range. 

High demand and  low supply = price rises 

My view - if you missed the last boom, you don’t want to miss what’s coming 

If you want to get your Preapproval for a property loan happening - give me a ring at www.bsifinance.com.au

Advice to first home buyers

As a Dad , finance professional and a mortgage broker - this is some advice that I have given to my children on how to start building a property portfolio.

Scenario 

homebuyer has a $30k deposit and earning a combined $180k 

Use the 5% deposit scheme to buy your first home now.

The scheme offers no LMI, no stamp duty in most states, and suits their income (they’re under the $200K cap).

With their $30K, they could buy up to $600K .

They could rent out rooms to help cover the mortgage, reduce their debt, and add value through cosmetic renos.

Once their loan-to-value ratio hits 80% -  refinance, rent it out fully, and use the equity to buy again.