Buying a Property With Friends
Written by By Tricia Williams, Manager - Edney Ryan Mortgage & FinanceThe lending industry is responding to social changes in property buying. As prices continue to rise, first home-buyers are increasingly looking for novel ways to get started. Lenders have now established a class of home loan specifically for buying a property with friends. The new style of loan enables pooling of money with friends, or family, without the usual shared... Read more
Highlights of the Federal Budget 2015
Written by Stephen Ryan, Director - Edney Ryan Chartered AccountantsThere were many positives in Treasurer Hockey’s second federal budget, the tone of which was a stark contrast to his grave warnings, severe spending cuts and austerity messages a year earlier. However one must question the optimistic forward growth estimates on which treasury base their calculations – I hope they are correct. We attach a paper issued by the Institute... Read more
Premium Property Stamp Duty
Written by Andrew O'Donnell - Director, Edney Ryan LegalSome clients that we have assisted with property transactions have been unaware of the Premium Property Stamp Duty payable on residential property transactions in excess of $3 million. The duty payable is calculated as $150,490 plus $7 for every $100 that exceeds $3 million. In comparison, the rate for properties less than $3 million pay duty at the lower rate... Read more
When Equity Release Makes Sense
Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance and David Heyworth, Director - Edney Ryan Wealth ManagementMany retirees are living the asset-rich and cash-poor contradiction, for example living in a $2 million home in Sydney, while surviving on $400 per week from the Aged Pension. While some people will happily downsize from the family home in order to free up some cash for living expenses, this is not ideal in all cases. There is the cost... Read more
A property in NSW with a swimming pool will be required to have a certificate of compliance before it can be sold or leased. The deadline for this has just been postponed by one year to 29th April 2016. Property owners are urged to commence this process promptly as there are reportedly long lead times for certifiers to carry out... Read more
Deposit Guarantee Can Take the Place of Cash
Written by Tricia Williams, Manager - Edney Ryan Mortgage & FinanceWhen 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
How Does Your Loan Rate Compare?
Written by Tricia Williams, Manager - Edney Ryan Mortgage and FinanceNow while loan rate are low is a great time to pay off as much as you can on your loan. Skipping coffees and bringing lunch from home may save you hundreds of dollars per year, but getting a better deal on your loan could save you thousands. Give me a call to discuss and I’ll be able to instantly... Read more
Who’s Who in Conveyancing?
Written by Andrew O'Donnell, Director - Edney Ryan LegalThere are two professionals able to do conveyancing – lawyers and conveyancers. Licensed Conveyancers Licensed conveyancers are non-lawyers who have been licensed to perform a part of the legal work associated with a real estate transaction, so long as it does not go beyond “conveyancing work” as defined in the Conveyancers Licensing Act 2003. There are times when a licensed... Read more
Fixed Interest Rates – Should I Commit?
Written by Tricia Williams, Manager - Edney Ryan Mortgage and FinanceThere has been much talk in the media lately about fixed rates – particularly the 5 year fixed rate offered by CBA of 4.99%* which many other major banks subsequently matched. In an economy where changes in interest rates can never be reliably predicted, and where the major banks make changes independently of the RBA anyway, it can be tempting... Read more
Equipment Finance for Every Industry
Written by Tricia Williams, Manager - Edney Ryan Mortgage & FinanceThanks to the diversity of our clients, we have the pleasure of arranging equipment finance for all sorts of businesses. From the specialised like a printer’s guillotine, a farmer’s tractor and an arborist’s mulcher to the more common including; passenger cars, light or heavy commercial vehicles, dental, medical or veterinary equipment, construction equipment, plant and machinery, computer technology. Whether you... Read more