Finance

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Preparing for a Loan: How Your Living Expenses Affect Your Borrowing Power

Written by Tricia Williams, Manager - Edney Ryan Mortgage and Finance

If you’re looking for a home loan, one of the first things your lender will ask about is your living expenses. That’s because, under the National Consumer Credit Protection Act, lenders must allow for living costs when deciding how much an applicant can afford to borrow. While some lenders will simply require a rough estimate of your weekly or monthly... Read more

Overcapitalising: The Risk of Spending Too Much on Improvements

Written by Tricia Williams - Manager, Edney Ryan Mortgage & Finance

  By Tricia Williams, Manager – Edney Ryan Mortgage & Finance Renovating your home or investment property can be a wonderful way to make it more appealing to buyers and increase its overall value. However, there’s a fine line between spending money to make your property more appealing and overcapitalising on your renovations. In this article, we look at overcapitalising.... Read more

Paying Interest in Advance on Investment Loans

Written by Tricia Williams - Manager, Edney Ryan Mortgage & Finance

            One taxation strategy is to prepay the interest on a loan for the next 12 months and claim a tax deduction in the current financial year. Prepaying interest is a way of bringing forward a tax saving that would have been claimed the next financial year. The maximum prepayment period allowed is 12 months The... Read more

Low Bank Valuations Pose a Risk for Buyers

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

Low bank valuations are a real risk, particularly for buyers with smaller deposits, and especially in a booming market. Consider the following scenario. Hollie and Sam are preparing to buy a new home in their popular suburb. The house they want is for auction, and they expect it will sell for around $1.8 million. They’ve saved enough for a 20%... Read more

Small Business Variable Rate

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

There is currently a very competitive small business variable rate available until August 2016. Variable rate 4.49%* Loans up to $1 million Minimum application requirements apply Residential or commercial security Establishment fee of just $800 without ongoing fees. For more information give me a call on (02) 9908 9888. *Rates and fees are indicative only and subject to change without... Read more

Finance Options for Non-Residents

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

Many Australians living overseas experience some difficulty when trying to arrange finance for a property purchase. Though there are some lenders who will refuse loans for expats as standard policy, many lenders will lend – albeit with more stringent requirements than for an Australian resident. Some lenders will consider overseas net income when calculating your borrowing capacity, though they typically... Read more

New and Improved Commercial Loans

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

There is now a new loan product available for commercial funding under $1 million. Previously commercial loans had a higher interest rate than residential loans, were limited to a Loan to Value Ratio of 60-70% and the loan term was typically 10 years, making monthly repayments high. In contrast, new commercial lending has a loan rate on par with residential... Read more

Deposit Guarantee Can Take the Place of Cash

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

When you have found the right property and need a deposit to secure the purchase, a deposit guarantee may assist buyers whose funds are currently tied up. A deposit guarantee is a substitute for the cash deposit. The deposit guarantee is issued by a guarantor, for a fee based on its value and duration of cover. At the time of... Read more

By Shane Oliver, Head of Investment Strategy & Chief Economist from Oliver’s Insights, AMP Capital, Edition 27 2015 Key Points As expected the RBA left interest rates on hold. While it’s a close call, chances are that the RBA will cut rates again before year end reflecting the poor business investment outlook, greater than expected weakness in commodity prices, the... Read more