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New Premises – Talk Home Loans

All Work And No Play…..

Welcome To Our New Office Inside Chermside Shopping Centre

Seriously – if this place was in Timbuktu, there’d have been a case to move 🙂

We are excited to announce our move inside the Chermside Shopping Centre at the modern workspace – Wotso, You can find us (Wotso Workspace) on level 2, on the very Northern end of the centre nearest JB Hifi.

Why the move?

What better way to celebrate our 20th year than a bright, fun and ultramodern workspace.

We loved the move to Chermside many years ago, however with the changes to parking in the area, we knew we had to find an office space that aligned with ease of access or clients, and what could be easier than popping in to see your broker, and getting the shopping list ticked off while you are there? All with free parking and walk right in. Park on level 2 and look for purple parking in the Northern end of the centre.

Whats the bonus?

For us, it is not sitting inside four walls. We have heaps of space, parks and trees to look out on, and the best of technology at our fingertips to better our outcomes for you. Well equipped, spotless meeting rooms, and coffee and tea on tap – we are ready to go within a minute of you parking almost at the door.

Many of our existing clients also choose a virtual meeting option, where we can still provide the benefits of a meeting in the comfort of your own home by leveraging technology. The virtual meeting pods in this place you can only appreciate if you manage these on a weekly basis

Why Chermside Shopping Centre?

The largest retail centre on Brisbane’s Northside, it simply made sense for us to transition here via a shared workspace option. Michael has been waiting for something to appear in Brisbane of a quality and tech setup akin to the best of their type in the world in California. As soon as this place hit the radar, it was easy to see us in it. Seriously – if this place was in Timbuktu, there’d have been a case to move 🙂

The centre has great road and public transport access to greater Brisbane and would be the pick of ease for the geographical base of our clients to get to.

Come See Us?

Whether you’ve got an excuse or not, next time you are nearby, give Michael a call and the coffee is on him 🙂

Are Mortgage Choice Mortgage Brokers Getting A Raw Deal?


Are Mortgage Choice Mortgage Brokers Getting A Raw Deal?


Mortgage Broker Brisbane

Is the Mortgage Choice Bigger Picture Just Another Greed Story?

I’m a Mortgage Broker based in Brisbane and have been for approximately 17 years.  I choose a non franchise aggregator to group my lenders for good reason.

Just as the global financial crisis hit, lenders responded by cutting the amount they returned to a mortgage broker for introducing, arranging and managing the loans.  They were also asking brokers to do a greater share of their administration work.  A bit like your boss coming in an telling you of a pay cut while at the same time significantly increasing your responsibilities.


It looks like Mortgage Choice took another stick to their brokers (when they could least afford it) and introduced ‘volume hurdles’ most of the industry would see as grossly unfair and inequitable, leaving many of their brokers considerably underpaid compared to their peers.  These volume hurdles are not unique to Mortgage Choice and a solid reason behind my choice of ‘aggregator’.

I for one want to make sure I’m paid fairly, as I use this revenue in turn to attract new clients, but more importantly to support existing ones.  If you have a loan with a broker being unfairly remunerated, you are unlikely to be ‘served’ in the same way as from a broker that is being paid fairly.  Remember – a broker uses upfront and trailing incomes paid by the lenders to support the day to day operating costs of a business that supports clients, their goals and queries with an expert and prompt response – something the banks seem to have lost the art of long ago.

I moved at the time of the GFC to a different broker group that was at the top of their game at making sure their brokers received a share of revenues at the top of the pack in Australia.  This enables me to run a profitable business, but more importantly to return the level of service and outcomes my clients expect.

Mortgage Choice needs to lift their game and pay their brokers appropriately.

Fast facts :

  1. Mortgage Choice is approximately 20% owned by CBA at the time of writing
  2. Aussie (Financial Group including the Mortgage Broking arm) are 100% CBA Owned
  3. Talk Home Loans is not part owned by any lender
  4. Talk Home Loans is not a franchise arrangement but a part of the largest independent group of Mortgage Brokers in Australia (via an aggregator).  We are remunerated fairly for the business we introduce and manages and are family owned
  5. We will never be part or wholly bank owned – end of story

The story that broke on ABC is well worth considering and a look here:

http://www.abc.net.au/news/2018-06-05/mortgage-choice-is-facing-a-revolt-from/9837936?section=business

Michael Schipper from Talk Home Loans is a Mortgage Broker operating in Brisbane, with over 17 years of experience and prides in the levels of service and quality advice he provides his clients.

Chat to him today about a better deal.

 

What Will I Need To Save As Deposit For My First Property? Exposing The 5% Myth

saving for a home deposit


What Will I Need To Save As Deposit For My First Property?  Exposing The 5% Myth

 


For those that are saving to purchase their first home, the question of what they will need in the bank before applying for the loan is a common one.  A quick google search will often mislead that it is 5%.  That depends on many factors which will be covered in this article.

 


 

The 5% answer (5% of your intended purchase price) is a part of the lender requirements for genuine savings (funds accumulated in an account over time).  As there are associated costs and a maximum loan amount as part of the variables to be considered, you can count in many cases that you also have to save further to cover this gap.  Australia’s banking regulator (APRA) has been working hard on the banks to bring down banking lending margins, such that the days of the 100% home loan are well and truly a thing of the past and savings requirements are growing.  First home buyers are going to need to get used to knuckling down on their savings targets for some time to come if they are not lucky enough to get some parental assistance. Read more

Explainer: fixed-rate loans

lock in your fixed rate loan with a brisbane mortgage broker


Explainer: fixed-rate loans


With interest rates at an all-time low, taking the option of locking in an interest rate on your home loan to guard against possible future fluctuation may be attractive. However, it pays to know the ins and outs of fixed-rate loans before committing to one.


When purchasing a property, borrowers can decide between fixed-interest loans that maintain the same interest rate over a specific period of time, or variable-rate loans that charge interest according to market rate fluctuations.

Fixed-rate loans usually come with a few provisos: borrowers may be restricted to maximum payments during the fixed term and can face hefty break fees for paying off the loan early.

However, locking in the interest rate on your home loan can offer stability. Read more

Explainer : Home Loan Preapproval

preapproval home loan brisbane


Explainer : Home Loan Preapproval


For those getting ready to stride into the world of home ownership, the uncertainties of a home loan approval can cast a shadow of doubt over an otherwise exciting time. When is it necessary? How long does it last? And what does it involve, exactly?


Pre-approval is a lender’s assessment of your likelihood of being approved for an otherwise suitable loan. The appraisal is made on the basis of your ability to service a loan by looking into your living expenses and liabilities, your credit history, your employment circumstances and how often you have moved home or employment in the recent past.

As it is performed prior to a property being found and chosen, it does not take into account the particulars of a specific property and valuation, which is why uncertainties can arise.

Pre-approval is helpful for those who want to know how much they can borrow before attending open homes, and can be reassuring for new borrowers. Read more

Save Your Legs And Call A Home Loan Expert

save your legs with the assistance of a mortgage broker


Save Your Legs And Call A Home Loan Expert


How do you match a loan and lender to your needs? Rather than running around finding out the details of each and every lender and loan, draw on the expertise of an experienced Mortgage Broker.


One of the benefits of working with a mortgage broker is the extensive menu of loan options they have at their fingertips. But given such a wide choice, how does your adviser narrow down the options to find the right loan for you?

MFAA Approved Finance Brokers sometimes have access to more than 30 different lenders. These include the big four banks, second-tier lenders such as Macquarie Bank, Bankwest and Citibank, and a raft of niche lenders such as Liberty or Pepper, which offer loan options for people who may not meet the lending criteria of the top banks.

When it comes to making loan recommendations, a Mortgage Broker looks at a number of different factors. Read more

What comes first: the property or the loan?

a mortgage broker can get your home loan approved


What comes first: the property or the loan?


It’s easy to get carried away with the fun part of buying a property – looking at houses – but delaying the less compelling task of arranging finance will weaken your negotiating position on both the property and the loan.


Looking for a property to purchase is an exciting time. Choices regarding location, size, number of rooms and local amenities often see house hunters carried away in a deluge of daydreams and anticipation.

But, before you get carried away, it’s important to check off the essentials first. Although organising your finances may seem drab in comparison to perusing sales listings, gaining pre-approval with a lender will give you confidence about how much you can afford to borrow. Read more

Explainer: How lenders work out whether you can afford a loan

brisbane mortgage broker to get your home loan approved


Explainer: How lenders work out whether you can afford a loan


Different lenders use different formulas to work out how much you can borrow, but the biggest loan isn’t always the best idea.


Being able to secure your ideal loan amount can seem like a battle of balances. Once you’ve worked your budget and finances through a spreadsheet, there’s still the one issue left to deal with: assessment rates. This is also known as an ‘interest rate buffer’.

Getting in while the going’s good and securing your loan while interest rates are low doesn’t change the fact that lenders are compelled to ensure that you will be able to make repayments if interest rates fluctuate.

Matching the features of a loan to your financial position is important, and often requires a third-party expert to help guide you through. Read more

What is the best time of year to buy a property?

house for sale your mortgage broker can help


What is the best time of year to buy a property?


While spring is renowned as the time that sellers dust off their properties and place them on the market, this doesn’t mean it is necessarily the best time for buyers to go shopping.


One of the biggest issues with shopping in spring is the flood of other buyers looking to snag their dream homes, which increases competition and housing prices.

“There is typically a seasonal uplift in buyer numbers over the last quarter of the year, which means the benefits of a higher number of options to choose from are offset by a higher number of prospective buyers,” explains CoreLogic RP Data’s Tim Lawless.

“Buyers may be better off when there are fewer buyers around in the winter months, at least from the perspective of being able to negotiate hard on price.” Read more

Explainer: how RBA rate changes affect your interest rate

Varying home loan interest rates


Explainer: how RBA rate changes affect your interest rate


With the RBA setting the official cash rate at all-time lows, it’s a good time to work out how this impacts the interest rate on your home loan and whether you are getting a good deal or not.


When the interest rate on your home loan fluctuates, it can feel as though you don’t have control of your debt. Despite being frustrating, interest rate changes are a part of every loan’s lifespan and warrant your consideration.

The interest rates that banks charge on their home loans are influenced by the Reserve Bank of Australia’s (RBA) cash rate.

The cash rate is reviewed by the RBA on a monthly basis in order to safeguard Australia’s economic stability. The cash rate is the rate charged on loans made between the RBA and your lender. This, in turn, has a very strong impact on the interest rates your lender charges you. Read more

Broker Vs Bank

Broker vs bank providing expert home loan advice


Broker Vs Bank


There are many reasons to choose a mortgage broker over a direct relationship with a bank.  Our industry has evolved such that more borrowers choose a broker than a bank’s branch lender to assist with their home lending and financial goals.  With good reason.


 

A Mortgage Broker is someone that specialises in home loans, has up to date and sophisticated software to model and compare rates between lenders, and the experience and professional qualifications to deliver the right result for your family.

Read more

Queensland Treasurer Winds Back The First Home Buyer’s Grant – But Who Is Actually Using It?

first home buyer grant


Queensland Treasurer Winds Back The First Home Buyer’s Grant – But Who Is Actually Using It Anyway?


As a mortgage broker based in Brisbane, the majority of first home owners I see are buying existing housing rather than new builds.  These savvy clients are seeking value over getting caught out over an insignificant carrot.

A little over 8000 first home buyers have been able to take advantage of the $20,000 grant from July 2016 to December 2017 or a little over 5000 per annum.  A drop in the ocean really compared to the wider market.


Many first home buyers turn to the ‘value’ of an existing property that they can make their own and mostly the grant or lack thereof doesn’t make the predominant purchase in this market any less achievable.

Larger deposits are generally required in my experience to facilitate a new build or new stock that can often be at a premium to the market (overpriced).  Not really the domain of the first home buyer.

It doesn’t take much to lose $20,000 on an overpriced new build and there is plenty of that around at the moment.

Significant stamp duty concessions are still available for many purchases regardless of the style of property being purchased, and first home owners should talk to their broker to establish their path to home ownership and maximise the savings or deposits they’ve put together.  Most find the grant is not a deciding factor to ownership and getting started.

I’d rather see a grant applied for all first home buyers as there used to be rather than something that potentially artificially inflates the new market.  As it stands, I don’t see all the fuss over something that is currently helping first home buyers so few in numbers.


Michael Schipper from Talk Home Loans is a home loan specialist and mortgage broker based in Brisbane. Contact him about how to maximise your results from your home and investment lending.


 

 

 

 

What is Equity and How Do I Use It To Invest Sooner?

using equity to purchase investment property


What is Equity and How Do I Use It To Invest Sooner?


Did you know that many investors get into the investment market by using equity (growth) in their existing home with little or no cash outlay on the investment purchase?


It is one of the common areas we assist clients with the know how to get them into investing sooner than they may have otherwise thought.  This also assists maximise the taxation advantages to the investment and is a vital factor to get right.

With the ability to service (repay) the new facility (with the assistance of potential tax advantages plus rental income) Read more

A Common Question – As a Mortgage Broker, Who Is Your Best Lender?

who is the best lender ask your mortgage broker


A Common Question – As a Mortgage Broker, Who Is Your Best Lender?


One of the most common casual questions I am asked when I am introduced as a mortgage broker is – Who Is The Best Lender In Your Opinion?


There is no ‘best’ bank, building society, credit union, etc in my opinion across the board. The best lender for a particular scenario depends mostly on the individual needs and preferences of the client, so there is no one lender that ticks all boxes for everyone. No particular lender can be best priced on their complete product range, but again some are closer than others in this regard.

Read more

Saving Interest and Reducing Your Loan Term

how to pay off your home loan years sooner


Saving Interest and Reducing Your Loan Term


This is a great little video from one of our lending institutions – AMP.


The information contained in the video illustrates very well the principal that the term of the loan and the amount of interest paid is really in your hands.  Well worth a watch – they do not cover offset facilities, however Read more

What can you expect your property manager to do for your investment property?

have a good property manager on your investment team


What can you expect your property manager to do for your investment property?


A property manager’s role includes collecting rent, of course, but they also manage your relationship with the person who lives in your property, so it is important to find a property manager who will do the best job of keeping the tenants happy and will get you involved only when you want to be.


Property managers market the premises, select tenants and organise the lease. They coordinate the payment of rent and call tradespeople to make repairs when necessary.

However, further to these duties, there are subtle elements of property management that often go unnoticed by the average landlord, which could be referred to as ‘tenant management’ or ‘relationship management’. Good relationships, clear communication and even better service go a long way towards keeping tenants in a property to minimise rent-free periods, and towards making it easy for an investor to own a property without having to think about it often.

“There’s a balance between what the legislation says, what the client wants and what the tenant wants. And it is our job to strike that balance, essentially,” explains REINSW Property Management Committee Member Lisa Indge. Read more

Raising Money Savvy Kids

a child asking a question about budgeting


Raising Money Savvy Kids


When looking into important financial values for children, one the greatest gifts we can give them is to teach financial literacy. Don’t worry if you’re not a financial whizz yourself, teaching young ones the fundamentals isn’t hard.


Parents are hands-down the greatest influence on their children’s behaviour.  Research shows this also extends to money management. Even the wisest financial lessons won’t shape your children’s habits if they don’t observe YOU making fiscally responsible decisions.  If you don’t already have a family budget, create one, stick to it, pay your bills on time and demonstrate the need to save both for life’s pleasures and its unexpected expenses.  Here are five important financial values children need to learn: Read more

Expert advice equals serious savings

Save money with a mortgage broker and expert on home loans


Expert advice equals serious savings


Having a mortgage expert on your side can be the key to getting your finance over the line, and may save you thousands in interest and fees.


When Nathan was offered the opportunity to purchase his mother’s property at a favourable price – just $180,000 for a house worth $350,000 – he wanted to take the opportunity to consolidate other debts. Using the equity available in his own property, he applied to refinance to cover both the debts and the favourable purchase, expecting to have all the loose ends tied up relatively quickly.

This was not the case. When Nathan tired of waiting for the bank to sort out the valuation on the property and decide whether it would approve the loan, he visited an MFAA Approved Mortgage Broker.

“He said it was taking forever, so he came to see me,” says Nathan’s mortgage broker. Read more

Service Is Much More Than A Seven Letter Word

vip service from your brisbane mortgage broker


Service Is Much More Than A Seven Letter Word


Creating a true partnership with a client in relation to lending is much more than entering their details in a piece of computer software and asking it for a result.


Experience, hard work, kept promises and a professional, yet relaxed approach is paramount.  I draw on over a decade and a half of practical experience in the finance industry to supplement regular education and research in the presentation of a client solution.  A purely software based approach does not begin to scratch the surface of a best practice lending solution for the client.  We do utilise a software solution as a part of our research, but rather than providing all the answers – it really creates a starting point for our work.

Read more

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Talk Home Loans Pty Ltd is authorised under Australian Credit Licence #488337.

The information published on this website is general in nature only and as such must not be taken for individual credit or financial advice. Only upon full review of your financial situation can we make individual recommendations or advice where required.