Archives for 2015

RBA Interest Rate Decision – December 2015

At its meeting today, the RBA Board decided to leave the cash rate unchanged at 2.0 per cent. Here’s part of the statement by Glenn Stevens, Governor: Monetary Policy Decision. Inflation is low and should remain so, with the economy likely to have a degree of spare capacity for some time yet. Inflation is forecast to be consistent with the target over the next one to two years. In such circumstances, monetary policy needs to be accommodative. Low interest rates are acting to support … [Read more...]

Interested in saving some money?

Don’t pay more in home loan fees and charges than you need to! Book in for a MMO home loan review today and let us help you keep more of your hard earned dollars in your own pocket. Here are some reasons why it could be worth your while. 1. Save some money Lenders announce special offers all the time and you want to make sure you’re taking advantage of them. We’re not necessarily talking about a complete refinance. Sometimes, it’s just about getting a bigger discount off your … [Read more...]

We can now help you with vehicle and equipment finance

Many of our clients also happen to be business owners and over the last few months, we’ve received lots of enquiries about vehicle and equipment finance solutions. After doing some homework to find the best providers, we’re happy to say we're now in a position to assist you. Whether you're looking to buy a new car, implement the latest technology in your business or want to upgrade some machinery, we can help. There seems to be a lack of transparency when it comes to vehicle and equipment … [Read more...]

Tips to manage your Christmas Spending

In the lead up to Christmas, it's really easy to overspend on gifts for family and friends (or even yourself!) particularly when you combine a credit card and online shopping. To make sure you start the new year on the right foot - without a credit card debt you can't manage - make sure you follow these tips. • Only use credit when you have the cash It sounds pretty simple, but lots of people use their credit card to pay for things they cannot afford. Only use your credit card if you have … [Read more...]

Brendan O’Reilly named by The Adviser Magazine, as one of the “Top 30 Young Brokers” for 2015.

It’s been announced that Brendan O’Reilly took out #17 position in The Adviser Magazine’s, ‘Top 30 Young Brokers of the Year.’ A big congratulations to Brendan for being recognised as one of the best young mortgage brokers in Australia for the third year in a row!! … [Read more...]

Buy then sell? Or sell then buy?

If you’re planning to buy another home and sell your existing one, what should you do first? Here are some things to consider. What are your finance options? If you can cover the loan for the new purchase and your existing mortgage, you’re in a good position. Knowing that you could cover both mortgages – even if it’s for a short period of time - can provide great comfort. An in-depth analysis of your current financial situation will generally determine what you need to do first. If you … [Read more...]

RBA Interest Rate Decision – November 2015

At its meeting today, the RBA Board decided to leave the cash rate unchanged at 2.0 per cent. Here’s part of the statement by Glenn Stevens, Governor: Monetary Policy Decision. In Australia, the available information suggests that moderate expansion in the economy continues. While GDP growth has been somewhat below longer-term averages for some time, business surveys suggest a gradual improvement in conditions over the past year. This has been accompanied by somewhat stronger growth in … [Read more...]

Interest Rate Changes – October 2015

Citing ‘regulatory changes on capital requirements’ as the reason for the increase, over the last week we have seen most of the major lenders announce increases to their interest rates, outside of any RBA rate change. Below summarises the changes that have been announced by some of the main lenders, and when the new rate will take effect. Please note that rate increases announced this time will apply to both owner occupier and investor loans. Whilst ING has not announced any … [Read more...]

What’s the Difference Between ‘Stand Alone’ and ‘Cross Collateralised’ Loans?

Cross collateralisation is a strategy used by lenders to tie up more of your security than they actually need – for their own benefit. Here we compare stand alone loans vs cross collateralisation to help you decide which is most suitable for you. A stand alone loan structure is when one loan is secured by one property. Cross collateralisation is when one loan is secured by multiple properties. An example Your existing home is worth $550K and owner occupier loan is $250K. You’d like to … [Read more...]

Interest Only Repayments on your Owner Occupier Home Loan

Interest Only (I/O) repayments sometimes get a bad reputation on owner occupier loans because they don't help you to actually pay down your loan. Whilst there's been some media hype lately about I/O loans carrying greater risk, the RBA's 'Financial Stability Review for October' reported that, "ASIC found that interest-only loans made in recent years have been less risky... they have tended to have lower LVRs at origination, and on average have been paid down more quickly than a typical … [Read more...]