Business, Equipment & Home Finance for SMEs
Real time accounting offers many benefits for business owners! It is something we implemented at The 500 Group and advocate to our clients. From a business perspective, real time accounting: Puts you in control Provides “real time” financial information to help you make more informed business decisions Saves time and significantly improves productivity When it [...]
When you apply for finance to purchase a home or investment property, Lenders will assess your application both on the actual interest rate and importantly, their Loan Assessment Rate. It is also applied to both new and most existing borrowings. (An Affordability Margin is also likely to be added to most business type borrowings) The [...]
A key element of Home Loan eligibility that often confuses and frustrates borrowers is the degree to which Lenders now review an applicant’s monthly expenditure. Even experienced borrowers or investors are surprised by the granular detail involved! Home Loan Eligibility - House Expenditure Method (HEM) In the past, Lenders determined your home loan eligibility by [...]
Many people wonder why they should use a Mortgage Broker instead of dealing with a Bank direct. Even though there are thousands of Mortgage Brokers across Australia, what they do and the value they provide is not well understood. Whether you're looking to buy a home, finance renovations, or build wealth through property investment, a [...]
It pays to plan ahead to avoid disappointment, delays, and a lot of frustration when applying for a home loan! This is even more so in a housing market where supply is constrained, and prices are accelerating. Even borrowers with an established track record, are often surprised about the amount of information and evidence they [...]
Many seasoned business owners are perplexed by how difficult it can be to obtain Self-Employed Home Loans. Historically, one of the easiest types of finance to obtain was home finance. However, as many have discovered, this is no longer the case for a variety of reasons. The good news is that, despite the recent developments, [...]
Until the impact of COVID-19, in our experience, too few borrowers regularly took the time to undertake a full Home Loan Review. With more time on their hands due to the lockdowns and the resulting cashflow pressures on households, this appears to have changed over the past 12 months. Because of the lockdowns and a [...]
For many years experienced property investors have used finance to take advantage of opportunities and build their wealth. However, over recent years for a host of reasons, property investors have found accessing finance increasingly difficult: Far more information is required Applications are assessed in granular detail It can take far longer for an application to [...]
The First Home Super Saver Scheme was originally introduced in 2017, updated in 2019 and then extended further in the 2021 Federal Government Budget. The Scheme is designed to assist first home buyers to build a deposit for a home by taking advantage of the tax concessions available to monies held in superannuation. Why the [...]
Interest Only Loans have been favoured by homebuyers and property investors for many years as way of preserving cash flow. (If you are not paying off principal, then you have more cash available for other purposes). For property investors, not paying principal also has the advantage of higher interest deductions and as the debt is [...]
