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RBA Interest Rate Decision – February 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's part of the Media Release issued by Phillip Lowe. Inflation is low, with both CPI and underlying inflation running a little below 2 per cent. Inflation is likely to remain low for some time, reflecting low growth in labour costs and strong competition in retailing. A gradual pick-up in inflation is, however, expected as the economy strengthens. The central forecast is for CPI inflation to be a … [Read more...]

Forget carpooling. Here’s how to really save money this year.

With so many tips being shared on 'how to save money in 2018' (tips that don't go anywhere near your home loan, mind you - which is generally your biggest monthly expense), we wanted to create our own list. Here are 17 ways you can save money in 2018, that don't involve carpooling or cutting down coffee consumption. Give us a call ;) Set up an extra direct debit pay day to pay a little more into your loan – every little bit helps. Make sure all your income is being paid into an … [Read more...]

Delaying a review of your home loans is costing you money. Stop putting it off!

We all put off the things we need to do. Reaching out to that person we haven’t spoken to in ages. Weeding the garden. Finding ways to save money. Yep, we’re guilty of it too (at least the first two anyway)! There’s always a stack of articles floating around this time of year ‘revealing’ the best ways to save money. Surprisingly though, 'reviewing your home loans' hardly ever makes the list. This makes absolutely no sense to us! The latest Census data revealed Canberrans spend almost … [Read more...]

Looking for a vehicle lease or equipment finance?

If you're a business owner looking to buy a new car, implement the latest technology or upgrade some machinery, we can help! There are also certain situations where we can assist PAYG employees with vehicle purchases too. Just give us a call. Not only can we help you access competitive finance solutions, but we're happy to review any quote you've already received to make sure you're getting a good deal. What can we offer? Competitive rates on vehicle and equipment finance Quick, … [Read more...]

Brendan O’Reilly is one of Australia’s, “Top 30 Brokers Under 30” in 2017 (The Adviser Magazine)

    Brendan O'Reilly has done it again!    Brendan was named as one of the top young mortgage professionals in Australia, securing 16th position in The Adviser Magazine’s, ‘Top 30 Brokers under 30" list for 2017. This is the FIFTH year Brendan's been recognised as one of the best in the business. We could not be more thrilled to celebrate this amazing achievement. If you're looking to improve your financial position this year (hint: a quick and easy way to do … [Read more...]

Q&A Video: Can you buy your first home without a large cash deposit? (Yes, you can!)

Are you eager to buy your first home, but finding it hard to save a large cash deposit? There might be a few other ways you can get into your first home. Find out more in this video. <img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1653223531561810&ev=PageView&noscript=1" /> … [Read more...]

Short on time? Don’t worry! That’s exactly why you should speak to us.

Life just seems to be getting busier, doesn't it? There’s always an email to reply to, a job that needs doing or somewhere we were supposed to be… 5 minutes ago. It's not surprising that the things we should be doing more regularly – like checking up on our home loans – don’t quite happen as often as they should. We know you don’t have lots of spare time. And we suspect that you'd prefer to spend the time you do have, doing ANYTHING OTHER than talking to multiple lenders, doing paperwork … [Read more...]

Video: 2017 – A Year in Review

How did you spend your 2017? What are your plans for 2018? Maybe we can help!   MMO Canberra Home & Investment Loans. 2017: A Year in Review <img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1653223531561810&ev=PageView&noscript=1" … [Read more...]

Q&A Video: Variable Rate home loans – When are they a good idea?

When are Variable Rate home loans a good idea? Watch this short video to find out. <img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1653223531561810&ev=PageView&noscript=1" /> … [Read more...]

RBA Interest Rate Decision: December 2017

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's part of the Media Release issued by Phillip Lowe. Recent data suggest that the Australian economy grew at around its trend rate over the year to the September quarter. The central forecast is for GDP growth to average around 3 per cent over the next few years. Business conditions are positive and capacity utilisation has increased. The outlook for non-mining business investment has improved … [Read more...]

Going, Going, Gone. Your guide to buying Canberra property at Auction.

You've found a property you like and it's being sold at auction. You're super excited because you've been looking at houses for ages and finally(!) something ticks all the boxes. The problem is, you're a little nervous because your previous experience with auctions consists entirely of ebay purchases.... But you really  like the house, so it's time to get up to speed with property auctions. We've compiled a list of things to do before (and on) the day of Auction to help ease your stress … [Read more...]

Q&A Video: Fixed Rate home loans – When are they a good idea?

When are Fixed Rate home loans a good idea?  Watch this short video to find out. <img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1653223531561810&ev=PageView&noscript=1" /> … [Read more...]

Unimproved Land Values in Canberra. How does your suburb compare?

What is the "UV"? The Unimproved Value (UV) of a property is the value of a block of land before any improvements are made to it. In other words, it's the amount the land is worth before any buildings, fences, driveways or anything else is added to it.  How is the UV determined? Locally the UV is determined by the ACT Revenue Office and each year, the figure is reviewed and adjusted for any capital growth. This review process takes into account recent sales of similar properties in … [Read more...]

RBA Interest Rate Decision: November 2017

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's part of the Media Release issued by Phillip Lowe. Growth in housing debt has been outpacing the slow growth in household income for some time. To address the medium-term risks associated with high and rising household indebtedness, APRA has introduced a number of supervisory measures. Credit standards have been tightened in a way that has reduced the risk profile of borrowers. Housing market … [Read more...]

Have 10 minutes? That’s all you need to improve your finances

We completely understand you’re busy with life. There’s too much to do. Not enough time. You simply could not fit another thing in. But what if taking 10 minutes out of your day to gather a few bits of information - you can even have a cuppa at the same time - meant you could save money? What if spending 10 minutes answering a few questions about your financial situation meant you could take your family on a holiday this year?  Or it allowed you to treat the kids (and yourself) to … [Read more...]

Switching from Interest Only to Principal & Interest Repayments can be a good move, especially if you’ve considered these things as part of your strategy

Choosing Interest Only over Principal & Interest repayments on your home loan used to be an easy decision. Interest Only repayments offered flexibility, the ability to pay your loan off on your own terms and you weren't charged a higher rate of interest for the privilege. If you’ve been keeping up with what’s been happening lately, you'd know the lending environment has significantly changed and Interest Only repayment loans aren't what they used to be. Lately we've been talking to … [Read more...]

Buy your first home without a large cash deposit. Here’s how you can do it too.

If you're having trouble saving enough money to buy your first home, maybe there's another way... You’ve been working for a while now and earn a good income. But between paying off your HELP debt, meeting your rent and having the odd weekend away (to attend yet another wedding), you’re finding it hard to save your house deposit. Everything you read says you’re supposed to have 20% deposit and as house prices continue to rise, with each passing month that elusive 20% target seems to get … [Read more...]

RBA Interest Rate Decision: October 2017

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Here's an extract of the Media Release issued by Phillip Lowe. Growth in housing debt has been outpacing the slow growth in household incomes for some time. To address the medium-term risks associated with high and rising household indebtedness, APRA has introduced a number of supervisory measures. Following some tightening in credit conditions, growth in borrowing by investors has slowed a little … [Read more...]

Interest Only Vs Principal & Interest repayments: Home Loan Review Case Study

Not sure what's the point of a home loan review? Here's an example of what we recently discovered as part of the home loan review we conducted for experienced property investors. These investors had multiple loans with one lender and one of their Interest Only loans had an Interest Only term that was due to expire. These clients asked us to conduct a review of their loans because they wanted to know how their existing loans compared to what else was available.  Having chosen Interest Only … [Read more...]

Is a Family Guarantee loan the right one for me?

What is a family guarantee loan? A family guarantee loan is where a family member - usually your parent(s) - uses equity in their property to help you purchase your new home. It's a way to get into the property market without a large cash deposit and in some cases, you don’t need much in the way of savings at all. A family guarantee loan allows you to avoid paying Lenders Mortgage Insurance, as the loan will be no more than 80% of the total security offered to the lender. How does a family … [Read more...]

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