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Chasing the Deal of the Day – Good Luck with That

Over the many years that I have been dealing in mortgage finance I have learnt a lot about this game, especially given the fact that at any point in time I’ve had access to over 600 different loan products at my disposal; from different credit policies, to loan structuring to maximising borrowing capacity etc. But the most important lesson in my ...

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Loan Flexibility is an Important Consideration

It is fair to say that even the best laid out plans can sometime not eventuate. When it comes to deciding on a mortgage the flexibility of the loan product is something you should pay serious attention to, as best illustrated by the couple of examples below. Investing: One of the best ways to get ahead in your wealth creation endeavours is to us...

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Repayment Changes

With the RBA decreases in interest rates late last year and the recent lender increases it’s hard to know exactly what your repayment should be each month when it comes to your mortgage. Furthermore there are some lenders who when rates are reduced do not adjust your repayment levels so you don’t know where you stand and it’s easy to feel as ...

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Loan Structuring

If you are not familiar with the term then this article is for you..... What is the definition of loan structuring:  In very simple terms it’s the way in which the loan product is set up to accommodate the borrower’s best interest, either in short, medium or longer terms depending on the client’s end goal, because we have to remember the ...

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$13,000 saving on loan set up costs!

At Empower Wealth we believe that making sure you have the right finance structure is paramount to the success you will achieve in your wealth building journey. In this newsletter I would like to share a story of how we were able to save a client $13,000 in loan set up costs, by ensuring that they had their loans structured in a way that was cost e...

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Exit Fee Passed as Legislation

The legislation to ban Exit Fees has been passed into law on 23rd March, by the Federal Government. These new laws will see Exit Fees, including Deferred Establishment Fees banned from 1 July.  The new regulations are: Regulation 79A The new Regulation 79A provides that a credit fee or charge is prohibited if:  it is provided for in a c...

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Mistakes Borrowers Make

With finance the flavour of this month’s newsletter I thought I’d pen a list of borrower’s mistakes. This list is not specific to investors or owner occupiers; they are basic mistakes or assumptions that lead to mistakes that all borrowers can make..... So lets take a look at them (in no particular order) Going straight to their current B...

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Laziness Costing Borrowers

Last month saw Infochoice release their first quarterly cost-of-banking research report.  It claimed borrowers are throwing away billions of dollars to the major lenders because they are paying interest rates that are too high on their mortgages. We agree, and as interest rates start moving higher and it hits the hip pocket, it is important to ...

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What’s the Cheapest Loan?

If I had a dollar for every time……. so the saying goes, and in my case it relates to people asking me what is the best interest rate at the moment or who’s got the cheapest loan? I wish there was a simple answer to this question, and believe you me, when I first started out in the finance industry I was also naive to think that surely this...

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