Mortgage Experts Blog
Loan Portability/ Substitution of Security
Marty McDonald - Monday, June 04, 2018
There are occasions when those with an existing mortgage looking to buy and sell at the same time should consider a “substitution of security” (sometimes called loan portability). Rather than closing the old loan and taking out a new loan sometimes getting from property A to B is as simple as changing the security of the loan from one property to another. The loan remains open at all times. Read more >
Loan Portability
Marty McDonald - Tuesday, May 15, 2018
Royal commission into financial services: what does it mean for borrowers?
Marty McDonald - Tuesday, April 10, 2018
If you haven’t been living under a rock, I’m sure you’re aware that there’s currently a royal commission being conducted into the Australian financial services industry. The first two weeks of sittings have mainly focussed on home loan lending, motor vehicle finance and credit cards. The first hearings were dominated by questioning on how major banks verify (or don’t verify) borrowers living expenses. The reliance on living cost benchmarks has come under intense scrutiny. There has also been a lot of negativity around mortgage brokers and the role they play in the wider mortgage market. The role commission play in incentivising poor conduct etc. The commissioner doesn’t appear to be a fan of brokers at all! Read more >
Attention small business owners: Have you considered buying a commercial property via your SMSF?
Marty McDonald - Monday, March 12, 2018
Currently we have a lender offering rates from 5.80% P&I over 20 years for commercial properties bought through your Self-managed super fund, usually commercial property loans for SMSF are more likely to be around 8% pa. Read more >
Pay your mortgage off faster
Marty McDonald - Wednesday, January 31, 2018
Wouldn’t it be nice to not have a home loan! Read on for Marty’s tips on how to get your mortgage repaid faster. Read more >
Are Your credit card bill’s getting out of control?
Marty McDonald - Thursday, January 18, 2018
Debt consolidation is the act of bringing many debts together into one new debt. This can be beneficial for helping you manage your repayments and have a clearer picture moving forward. If you have equity in your home this can be done by refinancing your mortgage to pay off current debts, shifting the debt into your home loan which usually has a much lower interest rate than unsecured loans and credit cards. Read more >
What’s happening to house prices in Sydney?
Marty McDonald - Thursday, November 23, 2017
I estimate house prices in the $1-$2 million range have fallen from their peak (which was around June 2017) by an estimated 7%. This won’t show in the official figures for so time if at all as the premium end of the market seems to be very strong still. Read more >
Construction loans for major renovations
Marty McDonald - Wednesday, October 18, 2017
There’s a growing sector of home owners buying cheaper undesirable properties in ideal areas and doing major renovations to create their dream home. They may also do knock down rebuilds that require full construction of a new property. Their many ways you can go about funding these endeavors with equity loans and construction loans both fixed and unfixed being the main avenues of finance. Read more >
Are we finally seeing the effects of APRA’s changes?
Marty McDonald - Tuesday, September 26, 2017
Since 2014 APRA has been progressively tightening the screws on mortgage lending to try and de-risk the banks. I think we are beginning to see the cumulative effects of these changes on the property market.
By way of summary there have been three distinct moves by APRA. Read more >
By way of summary there have been three distinct moves by APRA. Read more >
Air BnB be and increased rental yeild
Marty McDonald - Thursday, August 24, 2017
In recent years, there has been a rise in property owners giving up traditional tenants in favour of using short term and holiday rental services such as Air BnB and Stayz. If the location is right short-term rentals can provide a significantly higher overall rental yield than traditional long term 6 or 12 months rentals. news.com reports that a three-bedroom house in Sydney could be paid off in just under 7 years using short term rentals as compared to more than 26 years with a traditional tenancy. Read more >
Recent Posts
- Loan Portability/ Substitution of Security
- Loan Portability
- Royal commission into financial services: what does it mean for borrowers?
- Attention small business owners: Have you considered buying a commercial property via your SMSF?
- Pay your mortgage off faster
- Are Your credit card bill’s getting out of control?
- What’s happening to house prices in Sydney?
- Construction loans for major renovations
- Are we finally seeing the effects of APRA’s changes?
- Air BnB be and increased rental yeild
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Lex Luther Enterprises Pty Ltd (ABN 58114636949) trading as “Mortgage Experts” is an Authorised Credit Representative (444479) of Martin Warren Thomas McDonald, Australian Credit Licence (391230) under s64(1) of the National Consumer Protection Act 2009.
