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1. Home loan repayments to increase
The financial markets expect the RBAto start putting up rates in 2018. This means repayments could also increase, typically by $50 for every 25 b.p. rise on a $400,000 loan. With any rate rise, borrowers are likely to turn to brokers to ensure they are getting the best deal possible. #HomeLoan #Mortgage
2. Property prices to cool
Banking regulators want to see a slowdown in house price growth, and that’s what we expect in 2018. Limits on investor and interest-only loan growth may remain for the foreseeable future, which may continue to dampen investor activity and cool property prices. We’re already seeing this intervention starting to take effect. Brokers will continue to play a critical role in explaining the ever-evolving regulatory changes affecting property investors and advising them of the best lending options available.
3. More borrowers may switch loan type
The big switch is on in the mortgage market. In the past six months, the number of interest-only loans held by the banks have dropped by around $36bn, according to APRA. The trend of switching to principal and interest loans may continue in 2018, and is an important transformation that brokers can continue to assist their clients with. #Loanswitch #refinance
4. First home buyers to make a comeback
With investors taking a step back, first home buyers may find more opportunities in 2018. They will continue to benefit from competitive interest rates, new concessions (if eligible) and ample apartment stock, although checks should always be made to ensure quality buys. With more first home buyer activity, brokers may expect to spend more time with their first-timer clients, coaching them through the journey as they get their foot in the door. #firsthomebuyer #firsthome #newhome
5. Upgraders may continue to renovate
We’ve seen a substantial increase in renovation loan applications in 2017, a trend that we’re likely to see well into 2018 as home owners choose to renovate over moving. Upgraders are avoiding exorbitant moving costs such as stamp duty. We’re seeing some more top-ups as people take advantage of lower interest rates and leverage the extra equity in their property in order to finance renovations. #Renovation #InterestRate
6. Owner occupiers to win from competitive lending rates
With limits on investor and interest-only growth, banks are competing over a smaller piece of the lending pie, and are offering some great deals for owner occupiers. Brokers may see more consumers take action, stimulated by heightened advertising activity among banks. #ownerOccupied #HomeOwner
Boxing Day or the second day of Christmastide, is celebrated the day after Christmas. #Christmas #BoxingDay #BoxingDaySale #Shopping
During the 1830s in Britain, it was a custom for tradespeople to collect "Christmas boxes" of money or presents on the first weekday after Christmas as thanks for good service throughout the year. In Europe during the Middle Ages, it is believed to be in reference to the Alms Box placed in areas of worship to collect donations to the poor.
These days it is synonymous with the Boxing Day Sale. For many merchants, Boxing Day has become the day of the year with the greatest revenue. Aussies are expected to spend $2.45 billion on Boxing Day online and in store, according to finder.com.au. David Jones stylist Amanda Edey says “Get in as quickly as you can for the best pieces and the best sizes, that’s how you’ll really snag the perfect bargain.”
But don’t despair if you can’t get to the shops straight away, as most sales continue all the way through January. Also keep in mind your finances, do not go overboard on your credit. Buy what you need and will use. Buy the staple classics that will stay in style over the year.
Contact Madhu on 0425 341 086 to manage your finances so that you can plan your shopping- clothes, shoes, electronics or homes. Read more articles and leave your comments on Facebook.
1) Max out your Super contributions and take advantage of the annual limits #Planning #MoneyMatters #HomeLoan#20172018
2) Dump do-nothing credit cards in favor of New Year specials like 0% interest rates, travel points and cash back opportunities. #CreditCard #NewYear #2018
3) Be prepared for whatever: Set aside one month’s salary for emergencies.
4) Reward yourself: Use the credit card points you’re racking up to buy something just for you.
5) Partner up: An experienced Financial Planner can do wonders for your finances. Making good decisions all year long is easier with the right planner.
Contact Madhu on 0425 341 086 or loans@financeandmortgage.com.au to plan your finances in the coming new year.
1) Inflation: Though we are in the lowest inflation rate in the last 17 years, Australia’s unemployment rate is at a stable level and the economy is ticking along well, even though both company profits and wages are down. #Inflation #HomeOwners #HomeBuyer
2) Buyers Mix: APRA's cap on annual investor credit growth at 10% has worked well to a point as rental returns have dropped. However, the property market, remains buoyant even after several years of high price growth in cities like Sydney and Melbourne. Total housing credit has been up this year (at least for owner-occupiers) and this usually means there are plenty of property buyers out and about and wanting to borrow money. #HomeLoan #Mortgage #Sydney #Melbourne #FirstHomeBuyer#FHOG #FirstHome
3) Supply – Demand: Affordable and desirable suburbs and accommodation type are always limited causing a high demand- low supply situation. One reason high demand for property is the relatively cheap cost of home loans in recent years. #InterestRate #CheapLoan
4) Affordability – Wages- Rates: RBA’s concerns about low inflation, boosted by rate cuts are part of a broader view to ward off inflationary pressure. The housing market boom is a by-product of this.#RealEstate #PropertyMarket
5) Historical and Projected Capital Growth: Over the past 20 years, general property inflation has been low and stable, consistent with the inflation target. However the property price growth in the recent times, that it has outstripped the rate of inflation in other parts of the economy, including inflation in the cost of new dwellings.
To make the most of the current property boom and for the best interest rates for you, contact Madhu on 0425 341 086 or like us on Facebook for regular updates.
As an entrepreneur, when you are expanding into new territory , you’re not always equipped with a GPS. However, you can still map out your journey if you ask the right questions. The right questions will uncover the road you need to take, and help you to identify the obstacles that you may face.
Once you have this knowledge, you can then take steps to remedy the obstacles and expedite your journey into successfully establish your business in the new territory. #motivation #mentor #unknown #brandawareness #competition
Questions should be asked in the following areas to help you to extract
the insights from the sources and give you direction on how you should
approach your business expansion:
1. Responsiveness: Are consumers unresponsive to the benefits offered
by your brand?
2. Trust: Do consumers lack the confidence that you will deliver for
them the benefits of your brand?
3. Competition: Do consumers believe they already have these benefits
through another brand?
As you collect data from answering these questions, you will be able to identify certain obstacles - or gaps - which you will need to manage in order to ensure that your growth plans are successful.
I have successfully built a business by asking the right questions and then evaluating my chances. Ask Madhu your questions on 0425 341 086 or at loans@financeandmortgage.com.au. Read more on Facebook.
7 News recently ran an excellent segment about the growing backlash over Sydney’s rapid population growth. #Sydney #NSW #Population #migrants#HomeOwners #Rental #FirstHomeBuyers
The segment touched on some of the major issues, including over-development (e.g. the proliferation of high-rise apartments), and pins the blame squarely on the federal government’s 200,000 strong mass immigration program.
As usual, there were comments from all spectrum of so called experts. Fake demographer, Mark McCrindle, argued that growth is unstoppable: “We can’t stop the growth. Sydney is the gateway to Australia. We are growing through national migration. We are growing through natural increase”.
Really? ABS’ population data clearly shows that net overseas migration is the overwhelming driver of NSW’s (Sydney’s) population. In fact, according to the NSW Government’s own projections, Sydney’s projected population increase over the next 20-years will be driven almost entirely by net overseas migration (i.e. 1.53 million out of 1.74 million).
Sydneysiders don’t want the city turning into a crowded, super expensive, high-rise hellhole. It’s about time our politicians heard the people's voices.
Let me hear your comments on 0425 341 086 or comment on Facebook.
How to create more business is a question that’s on the minds of most individuals who are either in business or looking to open their own business.
#winning #help #leaders #motivation #inspiration #business
People love dealing with Givers. As a mortgage broker, one of my key observations was - Successful people were not the constant givers. You had to ask for an appointment, you had to meet with them to show that you are serious and that you care about the work you do. You had to then repeat it to be able to earn the business.
The really helpful ones, statistically, the ones consistently looking for ways to help others were finishing last – Refer to them as “Givers”. Now here’s the fascinating thing about people. Whilst Givers were over represented at the bottom, they were also over represented at the top of the success metrics.
Meaning whilst nice people do finish last, they also finish first.
In the middle of the spectrum were the “Matchers” (people who balance giving and taking) and the “Takers” (people who selfishly try to get more and give less).
The key difference between the Givers who succeeded and the ones who ended up last, is that totally selfless Givers exhaust themselves helping others and end up being exploited by the Takers.
Whereas the winning Givers were able to create boundaries and felt no shame holding back when they needed to.
These results are consistent not only in sales but also across all industries. Creating boundaries is vital for playing the long game, especially in a service industry like ours.
Don't think that you need to accept every deal - not every deal is clean business. Never sacrifice your integrity or your happiness to please others. How far are you willing to go to help others? Let me know on 0425 341 086.
We are 30 years ahead of schedule, in the least favourite category – Population. Sydney is the most favoured hub in the Asian Region as a stable economy and a great place to live. #Sydney #NSW #Population #Visa#migrants
Sydney’s projected population increase over the next 20-years will be driven almost entirely by net overseas migration (i.e. 1.53 million or 77,000 people a year). We need to become a little bit more nimble and flexible with Family Visa, allowing other familywho live here to help the new comers.
We want to help the #FirstHomeBuyers – some who are born here, but now there are many who have migrated here. Banks are still using the same old credit methodology and the yard stick, for good credit. We need for all types of people to coexist – some who may never take on a mortgage but may buy a luxury car if they buy a car at a higher rate. Some people will work well into their 70’s, so they should be allowed to look at a 25 year loan term at age 50.
Responsible lending must and should exist, but so should options. Please comment as I am very keen to see some level of change in the products being offered in the market place.
I am a migrant, Australia is home and I wantto see it thrive, but we certainly need something more after the Mining boom.
Maybe like #ElonMusk says - we can produce energy and sell to China.
What do you think? Let me know at 0425 341 086. Read more on my Facebook Page.
We all know that we should spend less and save more. Sometimes it is nor easy to save $50 or $100 every week. Here are a few ways to save by just rethinking a few everyday chores. #Energy #Energybills #Savings #money#budget
1) TURN OFF THE LIGHTS: I can't say this enough. Just turn off the various electronic devices when not in use. How many mobile chargers are left on even when your phones are unplugged. It is a slow drain of electricity,. Save money on your energy bills and save the environment.
2) Plan your meals around your grocery store’s flyer: Instead of creating your meal plan out of thin air, plan all your meals around what’s on sale in your grocery store’s flyer. Look at the biggest sales, then plan recipes based on those ingredients and what you have on hand.
3) Remove your credit card numbers from your online accounts: It’s easy to spend online when you have your card information stored in an account – just click and buy. The best way to break this habit is to simply delete your card from the account. This way you’ll be forced to spend the time to dig out your card – and really think about why you’re spending this money.
These are a few easy everyday tips. Talk to Madhu on 0425 341 086 for more easy savings tips and for financial planning advice.
No matter where you are on your financial journey, you should know that it’s possible for anyone to take charge of their financial life . But, as with most things, sometimes that very first step is the hardest part. #Saving #investments #motivation #Quickfix #SaveMoney
1) Turn off the television:There are a lot of financial benefits to this: less exposure to ads, a lower electric and cable bill and more time to take up a side business or a part time job.
2) Clean out the Closet: Stop buying new clothes and shoes. Organise your closet. Mix and match existing stuff. Sell the rest on Ebay or have a Garage sale.
3) Making a List & Checking it twice: Write down a list before you go shopping and stick to it.
4) Invite friends home: Have a blast at home with themed parties or potlucks and save big money by staying out of restaurants.
5) Repair your clothes: How often do you toss out clothes because of a missing button or a wine stain? Learn easy and quick sewing tricks and save money. Paint over or iron on a patch over small holes or stains to make funky home clothes or gardening clothes.
Remember, a small first step takes you a long way. Talk to Madhu on 0425 341 086 to share your savings tips. Read more tips and ideas on Facebook.