It’s time to factor in interest rate rises Posted on Friday, November 22 2013 at 11:50 AM Alex Parsons, chief executive officer of financial comparison website RateCity, says there’s an established trend of fixed interest rate rises, and borrowers must now start allowing for rate increases in all mortgage [...]
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**Content:** Loan application Updates from all our [panel lenders](https://www.oceanhomeloans.com.au/lenders/ "Lenders") over the past month show there is a definite trend of **fixed interest rates** rising, and borrowers should now start factoring in the potential for rates to increase and base all home loan mortgage decisions accordingly. Borrowers should now be preparing for the likelihood of higher mortgage rates in the future and ensure that they can comfortably afford to service their home loan if rates do increase to near the historical average of around seven per cent or even higher. Evidence suggests that in excess of over 150 fixed home loan interest rates rose between September and early November this year, including more than 50 in one two-week period. Further analysis reveals that approximately fifty percent of four and five-year fixed rate home loans, and nearly fourty per cent of three-year fixed rate home loans, have seen interest rates increase during the past several months. It is now evident that there is an established trend for an increase in fixed rates for terms of three years or greater, though rate movements in fixed rates do occur differently to variable interest rates, the trend is definitely to longer term fixed rates rising. ## Short Term Home Loan Fixed Interest Rates It should be noted that one and two year fixed interest rates have remained fairly stable, with one-year fixed rates as low as 4.44 per cent. Lender competition in the one and two year fixed rates area is extremely high and while they are also subject to the same market forces as longer term fixed interest rates, the are a lower risk tactic for lenders to offer headline grabbing interest rates to attract new customers. It is important to consider when selecting a fixed interest rate home loan as to what the revert interest rate will be when the fixed interest rate expires. In most cases fixed interest rates revert to the lenders standard variable rate option, with no rate discount, at the end of the fixed period, unless you have taken out that lenders [Professional Package](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans – What is a Professional Package?"). So it pays to do your research when looking into a fixed rate home loan, not only do you need to consider your position today but also what will happen at the end of the fixed rate period. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20It%E2%80%99s%20Time%20to%20Factor%20in%20Rises%20in%20Home%20Loan%20Fixed%20Interest%20Rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fits-time-to-factor-in-interest-rate-rises%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/#print?share=print) - **Categories:** Fixed Rate **Tags:** fixed interest rates, interest, loan, rates --- ### [Self Managed Super Fund - The Facts](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/) **Published:** December 6, 2013 **Author:** Brad Kirwan **Content:** ****A **Self Managed Super Fund** (SMSF) can present genuine benefits – if they’re well run, however they’re not for everyone. If you’re prepared to devote the time needed to run your own SMSF there are many exciting opportunities available. ## What exactly is a Self Managed Super Fund? Simply put, a SMSF is a super fund that you set up with your own superannuation money. You make the decisions and control your investments. That gives you flexibility, but with it comes great responsibility. That’s why you should always understand the risks before you choose to manage your own super fund. ## Buying Property One of the unique advantages is that you can invest directly in [property](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/ "Property Investment Outside the Inner City"). That means that you can use your super savings in a self managed super fund to buy a house, unit or townhouse. This is known as ‘Limited Recourse Borrowing’. Many lenders will allow you to borrow money to buy [property](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/ "The Property Investment Growth Suburbs – How to Find Them (Before the Boom)") of this sort – however the main stipulation is that their recourse is limited to the single asset that the money was borrowed against. Therefore, they’ll generally either ask for a larger deposit or a higher interest rate. Investing in [property](https://www.oceanhomeloans.com.au/spring-economic-wrap/ "Confidence in Property Ownership is on the Rise") will give you a range of retirement planning and tax advantages. For example, rent received from the property is paid into the fund and taxed at a maximum of 15% – any expenses can be claimed as a tax deduction for the fund. Another plus – if you sell property from your self managed super fund, it may incur only 10% Capital Gains Tax (if the property is owned for longer than one year). If it’s sold during the Retirement Phase of your **s**elf managed super fund (that is, when you have retired and your sole income is front your super fund), no Capital Gains Tax is payable at all. ## Is it for you? So, is a self managed super fund the right choice for you? As this is a complicated area you need to make sure you first seek out the right advice from qualified professionals. Your financial future is too important to leave to chance. *The contents of this document are intended for information purposes only and may contain personal opinions of the author. It is not intended to be a substitute for specific financial or legal advice. Before making any decisions about a self managed super fund you should consider your personal situation, objectives and needs. While all reasonable care has been taken in the preparation of this information, we take no responsibility for any actions taken based on the information contained in this article or for any errors or omissions.* ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Self%20Managed%20Super%20Fund%20-%20The%20Facts&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fself-managed-super-fund-the-facts%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/#print?share=print) - **Categories:** SMSF **Tags:** investment property, property investment, rental property, self managed super fund --- ### [Summer is here, but the RBA stays cool and keeps interest rates on hold](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/) **Published:** December 3, 2013 **Author:** Brad Kirwan **Content:**  They say no news is good news, and at the moment this is the case with **interest rates**. The RBA are clearly happy that all is going to plan, having decided to keep base rates on hold at the record low 2.5%. “The Australian economy (just) surprised with strong numbers.” reports Business Insider Australia after reviewing newly released data from the Australian Bureau of Statistics. “The good news was that economists’ expectations undershot the actual outcomes by a long way, meaning the economy is healthier than they expected.” ## Lower interest rates see sales and housing on the rise Elsewhere, property and retail centre developers Stockland confirms that both retail sales and the housing market are on the up and up: “October (retail) sales growth showed some improvement…with established house prices rising in all capital cities.” This was backed up by the latest RP Data figures that show auction clearance rates for 2013 are much higher than 2012 and 2011. At the low end of the market and with interest rates at historical lows, Terry Ryder of hotspotting.com believes that [first home buyers](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/ "What are the latest First Home Owner Grant Schemes?") are bucking traditional trends, “some are renting in the city while getting on the property ladder by buying an investment property in a cheaper location, often a regional centre.” Overall, there’s no doubt that these are exciting times for both [buyers](https://www.oceanhomeloans.com.au/saving-for-a-home-loan-its-all-in-the-budgeting/ "Saving for a Home Loan – it’s all in the Budgeting") and [investors](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/ "The Property Investment Growth Suburbs – How to Find Them (Before the Boom)") in the property market as interest rates remain low and it’s important to thoroughly research the local trends before taking the plunge. As ever, we’re here to help and will be happy to provide any guidance that may make your next property decision a little easier. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Summer%20is%20here%2C%20but%20the%20RBA%20stays%20cool%20and%20keeps%20interest%20rates%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsummer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/#print?share=print) - **Categories:** Variable Rate **Tags:** first home buyers, interest rates, investment property, mortgage, mortgage repayments, property investing, rates --- ### [What is a Property Buyer's Agent and what do they do?](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/) **Published:** December 18, 2013 **Author:** Brad Kirwan **Content:** A **property** buyer’s agent is a licensed professional who helps facilitate the purchase of a real estate on behalf of the buyer. They assist with searching, evaluating and negotiating the price of the buyer’s potential property. It’s important to note that these individuals are *not* sellers of real estate. A buyer’s agents often offer two tiers of service – the full search service, and the negotiation/auction bidding only service. The full search service has the agent [sift through the market](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/ "The Property Investment Growth Suburbs – How to Find Them (Before the Boom)"), shortlisting any properties that meets the client’s criteria. The shortlisted properties are then evaluated and negotiated via a private treaty or auction bid. The negotiation or auction bidding only service is for clients who wish to search for properties on their own accord, and have the agents deal with only the negotiation and bidding. ## Why choose a Property Buyer’s Agent? Buyer’s agents increase your property scope – you’ll have a much wider range of options to choose from, as they have access to non-publicly listed properties. Instead of having your head buried in newspapers on the weekends, you can better allocate your time while you have a property buyer’s agent take care of your shortlisting. A professional agent is highly trained in the delicate art of negotiation. Use their experience to your advantage and have them obtain the lowest possible price. A buyer’s agent can help you seek properties in better locations with good prospects. So are buyers’ agents a cost effective solution? Many people think so. Their fees are generally reasonable in the grand scheme of buying real estate – in the long run they will most likely save you money, time and stress. If you have any questions on property buyers’ agents, feel free to contact us – we’ll help in any way we can. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20is%20a%20Property%20Buyer%27s%20Agent%20and%20what%20do%20they%20do%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-is-a-property-buyers-agent-and-what-do-they-do%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/#print?share=print) - **Categories:** Investing **Tags:** property --- ### [Home Improvements That Can Pay Off](https://www.oceanhomeloans.com.au/home-improvements-that-can-pay-off/) **Published:** December 16, 2013 **Author:** Brad Kirwan **Content:** In today’s housing market, some **home improvements** pay off by increasing the value of your home, while others will do little to improve its resale value. Generally, updating the kitchen and bathrooms are always a good investment, it is these improvements that are seen to yield the highest rate of return. ## Kitchens The kitchen tends to be the most important room in the house. The average payback on improvements to the kitchen can be 80% with costs ranging from $15,000 and up. Some good ideas: new tile flooring, new cabinetry, updating appliances to new energy-efficient models. ## Bathrooms Bathroom renovations can yield a return of about 85% to 90%, with costs starting around $10,000. Adding a new bathroom returns around 80% to 85% – even higher if you only have one bathroom to start with. And since many home buyers today won’t consider a home with less than two full bathrooms, adding a second bath can make your home significantly easier to sell. Some good ideas: double sinks, tile floors and new bath fixtures and taps. ## Other Improvements That Pay Off Home improvements that bring a good return on your investment can be a big undertaking. Larger improvements could include adding a fireplace, building a deck or patio, or adding a new heating or cooling system. However, you don’t have to spend huge amounts to upgrade the look of your home. Smaller, less expensive home improvements could include replacing old doors or installing a ceiling fan. Cosmetic improvements can also go a long way in the minds of [prospective buyers](https://www.oceanhomeloans.com.au/tips-tricks-to-sell-your-property-quickly/ "Tips & Tricks – To Sell Your Property Quickly"). ## Home Improvements To Avoid There are some improvements (adding a swimming pool for instance) that rarely pay off. These home improvements are fine if you and your family will enjoy them, but keep in mind that they rarely increase the value of your home. In some cases, they can even make your home more difficult to sell. You should also avoid making too many expensive home improvements that increase your home’s value beyond what is customary for your neighbourhood. You don’t have to cut corners, but owning the most expensive home in the street can be an obstacle to resale. One last piece of advice, don’t get too fancy. Everyone’s tastes are different, so choose neutral colours and materials that appeal to a broad range of people will make it easier when it comes time to sell. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/home-improvements-that-can-pay-off/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/home-improvements-that-can-pay-off/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/home-improvements-that-can-pay-off/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/home-improvements-that-can-pay-off/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/home-improvements-that-can-pay-off/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/home-improvements-that-can-pay-off/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Home%20Improvements%20That%20Can%20Pay%20Off&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhome-improvements-that-can-pay-off%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/home-improvements-that-can-pay-off/#print?share=print) - **Categories:** Property **Tags:** home improvements, home renovation --- ### [Professional Package Home Loans offer Discounts on Interest Rates](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/) **Published:** December 20, 2013 **Author:** Brad Kirwan **Content:** **Professional package home loans** are a type of home loan that cater to people who are borrowing a larger amount of money, usually over $250,000 and who are looking for a range of offers including discounts on **interest rates**. There is an annual fee of $300 to $400 depending upon the lender and in return they will offer substantial discounts on their rates and discounts on a range of additional services such as cheque accounts, insurance and credit cards. Depending on the lender you may also be able to receive discounts on personal loans, margin loans & share market trading. If you are looking to get more than just a home loan from your lender, Professional Package Home Loans can offer an excellent way to place several products together and save. ## What Discounts on Interest Rates do Professional Package Home Loans offer? Depending on the bank, professional package home loans often reduce the standard variable rate (SVR) by 0.5% to 0.9% and the fixed rates by 0% to 0.25%. Sometimes further discounts to the interest rates are offered in the case of larger loans over $750,000 or $1,000,000. These discounts are standard and are offered without negotiation, by using a mortgage broker to negotiate on your behalf, these discounts can be as much as: Loans over $250,000: 0.90% below the SVR. Loans over $500,000: 1.00% below the SVR. Loans over $1,000,000 & below 80% LVR: 1.03% – 1.10% below the SVR. Loans over $1,500,000 & below 75% LVR: 1.15% + below the SVR. Loans over $2,500,000: Discounts are negotiated on a case by case basis. These discounts can also be accompanied by a reduction in a range of fees associated to the loan. The application fee will be waived along with other fees such as switch fees, extra valuation fees and loan split fees. A further cost saving can be found with most professional package home loans also providing a fee free [100 % offset account](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "Offset Account Home Loans – Pay Your Loan Off Sooner"). ## Are Professional Package Home Loans suitable for me? Professional package home loans are [most definitely suitable for you](https://www.oceanhomeloans.com.au/choosing-the-right-mortgage-for-you/ "Choosing the Right Mortgage for you") if you: Are intending to borrow a loan amount greater than $250,000. Most lenders can now offer a discount of 0.5% to 0.9% from their standard variable rate. Want all your banking in one place and prefer to pay a single fee for all the services you require as opposed to paying fees for each and every service. Don’t mind changing banks to get the best possible deal. Professional package home loans are probably not for you if you: Need to borrow less than $250,000. Don’t need a range of bank products. Don’t want to switch to a new bank. So if you are looking for a home loan with discounted interest rates and multiple features then a professional package home loan is probably the right choice for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Professional%20Package%20Home%20Loans%20offer%20Discounts%20on%20Interest%20Rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fprofessional-package-home-loans-offer-discounts-on-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, interest rates, mortgage offset loan, professional package --- ### [Should I get my Home Loan from a smaller Lender](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/) **Published:** January 24, 2014 **Author:** Brad Kirwan **Content:** ## [](https://www.oceanhomeloans.com.au/wp-content/uploads/2014/01/3297-101413-gs3297.jpg)Is a home loan from a big 4 lender really better? It’s probably no surprise to you that more and more people are choosing their mortgage from smaller lenders instead of the major banks. You could be one of these people – if not and you’re curious, here’s why [smaller banks and mortgage lenders](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/ "Home Loans – Banks vs Non-Bank Lenders") are stealing market share away from the major banks. These smaller **home loan** lenders don’t have the huge overheads that the big banks do, so they can provide stiff competition, [incentives and discounted rates](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/ "Lender Special $1,250 Home Loan Refinance Rebate – Update"). Home owners are beginning to shop around and realising that jumping ship could save them a load of money – in fact, people choosing a major bank as their lender have decreased by 0.52% compared with 2012. According to financial comparison website RateCity, one in six borrowers are choosing smaller lenders for their home loan in preference to one of the big four banks. RateCity CEO Alex Parsons says: “People are getting smarter with their mortgages and realising that paying the higher rates is a waste of their money. As cost of living pressures bite, making a few tweaks to your home loan or refinancing into a lower rate can save upwards of $1000 a year on a typical $300,000 mortgage – where else can you find savings like that in your budget?” So, what’s the difference between a big bank and a small lender? ## The big four They have a large customer base and more assets, which allows them to offer an extensive range of services, including 24/7 customer service and a larger number of ATM’s. Customers can also access a huge range of products to choose from. The downside of choosing a big bank is mainly in the area of service. Many people feel that they’re treated as a number, not a human being. And because they operate with profits in mind, monthly account fees can be high, and term deposit interest rates can be low. ## Credit unions, mutual banks and building societies These are often not for profit financial institutions that operate on behalf of their members. There are advantages to this – they are able to provide specialised tailored services. They are also able to provide more personal service. But the big advantage is the ability to offer attractive interest rates across the board – lower rates for your home loan and credit cards, higher rates on savings accounts. Remember though, they typically have fewer assets, so they often can’t offer the same amount of services as the big four. ## So, what should you choose? Buying a home or an investment property is one of the biggest purchases you’ll ever make in life. So there’s no substitution for talking to an expert such as a mortgage broker before you buy. They’ll take you through the different home loan options so you can make an informed decision. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Should%20I%20get%20my%20Home%20Loan%20from%20a%20smaller%20Lender&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fshould-i-get-my-home-loan-from-a-smaller-lender%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/#print?share=print) - **Categories:** Loans **Tags:** budget, home loan, home loan refinance, interest rates, investment property, mortgage repayments, refinance --- ### [Are Home Loan borrowers better off now than we were in the 1990s?](https://www.oceanhomeloans.com.au/are-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s/) **Published:** January 31, 2014 **Author:** Brad Kirwan **Content:** According to the experts, 2014 will be a happy new year for Australian **home loan** borrowers. Even though our mortgages are bigger than they were in the 1990s, we’re still all better off. ## Higher income The latest data from [Canstar](https://www.canstar.com.au) shows the average wage for a male was about 2.5 times higher than it was in 1990, $70,569 compared to $28,407. Even though home loan sizes have gone up, repayments as a proportion of income were 42% in 1990, compared to the current 36%. That means that today you can buy higher quality housing for less than you could before. Housing affordability is high partly because interest rates are very low with the average standard variable rate at just 5.95% compared to 17.5% in 1990. ## Lower home loan interest rates Favourable interest rates and a growing population may mean that waiting to buy will leave you behind. Many expect housing prices to continue to rise, so if you get in soon, your house might be worth more in a few years. JP Morgan economist Tom Kennedy thinks the statistics are “representative of strength in the housing market and the continual demand for property”. The Australian Bureau of Statistics released their housing report on 10 December 2013, which showed that home loans grew 1% and total dwellings rose 4.1%, both seasonally adjusted for October. Commonwealth Securities economist Savanth Sebastian believes the housing sector is going to takeover mining as Australia’s leading industry. “With interest rates low, population rising and housing affordability still attractive, housing is best placed to take over the leadership role from mining as the nation’s key economic driver,” Mr Savanth said in a note to clients. ## There’s never been a better time Imagine how hard it was to afford a home loan in the 1990s, when official interest rates climbed to 17.5%. With a strong housing market and the highest affordability in years, it’s never been a better time to buy. So, what are you waiting for? ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/are-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/are-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/are-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/are-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/are-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/are-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Are%20Home%20Loan%20borrowers%20better%20off%20now%20than%20we%20were%20in%20the%201990s%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fare-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/are-home-loan-borrowers-better-off-now-than-we-were-in-the-1990s/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, first home buyers, home loan, home loan refinance, interest rates, mortgage repayments --- ### [2014 Investment Property Success Plan](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/) **Published:** January 29, 2014 **Author:** Brad Kirwan **Content:** Have you made your 2014 **investment property** resolutions yet? It appears the old adage of ‘location, location, location’ has never been truer. But there are a number of points to consider before you start. So, get our your pens and prepare to write you plan. ## Do your investment property homework A good place to start is with the latest House Price Indexes from the Australian Bureau of Statistics. Annual growth to September 2013 indicates Sydney as being the clear winner. But growth has also occurred in Melbourne, Darwin and Brisbane. In regional Australia, annual growth is good in towns such as Miles and Cloncurry in Queensland and Narrabri in New South Wales. If mining towns are in your investment property plan, you’ll need to do extra research to ensure you have up-to-the-minute data – some mining areas are doing better than others. ## Keep an eye on the RBA Economists taking out their crystal balls are split on interest rates. Some see a move down in mid 2014 while others predict a hike in late 2014. While nothing is certain in life, it’s worth considering what’s the right time to move. Banks are also [highly competitive right now](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/ "Lender Special $1,250 Home Loan Refinance Rebate – Update"), so see what each of them has to offer – including those beyond the big 4 banks. ## Off the plan or established? According to the Housing Industry Association, new house building in Australia is expected to continue growing in 2014 in larger states such as NSW, Queensland and WA. Meanwhile, HIA senior economist, Shane Garrett says that investment property renovations are also expected to grow in a majority of states and territories after falling to a ten year low during 2012/2013. If you have the time and the skill set, renovation can be very profitable, but if you’re time poor, off-the-plan or a fully renovated property may be preferable. ## House or flat? Record low interest rates and increased population growth will see many apartment blocks selling ‘[off the plan](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/ "What are the pitfalls of an “off the plan” Investment Property?")’. If this is what you’re thinking about, make sure you know what you’re paying for – and what you’re not paying for. Make sure you understand who manages the building, what the ‘common property’ areas are and exactly what the strata levies cover. If the flat you are considering is in an older block, it may be worth investigating if any large projects have been undertaken in the past 5-10 years – the last thing you want is to purchase your unit, only to discover a major project (that’s bound to break the sinking fund) is looming. ## And finally Before you buy any investment property, seek professional advice. Your lawyer and your friendly mortgage broker can help you with any information you may be missing. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%202014%20Investment%20Property%20Success%20Plan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F2014-investment-property-success-plan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/#print?share=print) - **Categories:** Investing **Tags:** construction, construction loan, home improvements, home renovation, investment property, property investing, property investment, rental property --- ### [RBA keeps a firm grip on the wheel as interest rates remain on hold.](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/) **Published:** February 4, 2014 **Author:** Brad Kirwan **Content:** The RBA, maintaining a mood of stability, has today decided to keep **interest rates** on hold at an already low 2.5%, after a tumultuous 2013, with wild predictions from left and right (and a general election adding to the fervour), 2014 is beginning to look like a more settled year. In many respects, the Australia economic outlook reflects the cautious optimism that many forecasters are predicting for the global economy – China, USA and Europe all picked up towards the end of 2013 and look set to continue improving fiscal conditions in the months to come. In Australia, there are similar signs that a positive turning point has been reached. In a recent survey, NAB economists stated that “Business conditions recorded a surprising jump to a more than two-and-a-half-year high in December, supported by an environment of low borrowing rates, higher asset prices and less elevated Australian dollar.” ## Extraordinarily low interest rates Certainly, there is plenty of evidence that this is a good time for homebuyers and investors. “The current level of **interest rates** is extraordinarily low” says Commonwealth Bank senior economist Michael Workman “and they are doing what they usually do, which is stimulating housing lending, housing prices and construction.” Anyone contemplating either entering the property market during this period of low **interest rates** or making further investments can be reassured that this is a good time to proceed. As ever, there’s no substitute for researching local trends beforehand, but there are sure to be excellent opportunities available for canny buyers. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20keeps%20a%20firm%20grip%20on%20the%20wheel%20as%20interest%20rates%20remain%20on%20hold.&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/#print?share=print) - **Categories:** Variable Rate **Tags:** borrowing capacity calculator, home loan, home loan refinance, interest rates, investment property, investors, mortgage, property investing, property investment, rates --- ### [5 Tips to increase your Investment Home Loan Borrowing Capacity](https://www.oceanhomeloans.com.au/5-tips-to-increase-your-investment-home-loan-borrowing-capacity/) **Published:** February 5, 2014 **Author:** Brad Kirwan **Content:** The right **Investment Home Loan** really depends on your particular financial goals, there are many different borrowing options and strategies available and not all banks treat an assessment for investing in property the same way, here are 5 ways to help you increase your borrowing capacity: ## Negative Gearing Not all lenders utilise negative gearing benefits when assessing your borrowing capacity, only if your portfolio is positively geared would you consider one of these lenders, knowing which lenders utilise the benefits of negative gearing is essential. ## Rental Income Depending on the bank, you will be able to use between 75% and 100% of the rental income in their borrowing capacity assessment, know which lenders use the full 100% of the rental income. ## Borrowing Capacity It is possible to increase your Borrowing Capacity with several banks by choosing a fixed rate **Investment Home Loan** of 3 years or greater, know which lenders assess your borrowing capacity differently for fixed rate lending of 3 years or greater. ## Extra Income All banks differ in the way that they assess overtime, bonuses, commission, allowances, trust distributions, dividends & self-employed income, know which lenders to use to maximise the assessment of any extra income. ## Other Investment Home Loan Bank Debt If you have other investment loans, most banks will assess these at their benchmark rates, potentially adding up to 2 per cent to the actual rate you are paying, reducing your **investment home loan** borrowing capacity substantially, know which banks allow servicing of these loans at their actual interest rates. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-tips-to-increase-your-investment-home-loan-borrowing-capacity/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-tips-to-increase-your-investment-home-loan-borrowing-capacity/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-tips-to-increase-your-investment-home-loan-borrowing-capacity/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-tips-to-increase-your-investment-home-loan-borrowing-capacity/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-tips-to-increase-your-investment-home-loan-borrowing-capacity/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-tips-to-increase-your-investment-home-loan-borrowing-capacity/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20Tips%20to%20increase%20your%20Investment%20Home%20Loan%20Borrowing%20Capacity&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-tips-to-increase-your-investment-home-loan-borrowing-capacity%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-tips-to-increase-your-investment-home-loan-borrowing-capacity/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, fixed interest rates, home loan, interest rates, investment home loan, investment property, investors, mortgage, mortgage repayments, property investing, property investment, rental property --- ### [Product Focus - First Time Home Buyer Home Loans](https://www.oceanhomeloans.com.au/product-focus-first-time-home-buyer-home-loans/) **Published:** February 7, 2014 **Author:** Brad Kirwan **Content:** With so many different home loans on the market, finding a loan that is suitable for you as a **first time home buyer** is not as simple as it used to be, there is an enormous range of loans available on the market these days and finding the right loan can save you money, provide you with greater flexibility and peace of mind. As a **first time home buyer** you can choose from a wide selection of home loan types, such as: [Basic Home Loans](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans") [Professional Package Home Loans](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans") [Fixed Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans") [Family Pledge / Guarantor Support Home Loans](https://www.oceanhomeloans.com.au/home-loans/family-pledge-guarantor-home-loans/ "Family Pledge Guarantor Home Loans") [Self Employed Home Loans](https://www.oceanhomeloans.com.au/home-loans/self-employed-home-loans/ "Self Employed Home Loans") [Low Doc Home Loans](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans/ "Low Doc Home Loans") [Combination or Split Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans") [100% Offset Account Home Loans](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") [Construction Home Loans](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/ "Construction Home Loans") ## How Much Do I Need To Save For A Deposit? The amount you need as a deposit will depend on the type of loan and the lender you select. Generally as a first time buyer you will require a minimum of 5% of the property value. ## What if I Don’t Have a Deposit? Don’t have a deposit, a [Family Pledge Guarantor](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/ "Loan Product Focus – Family Pledge Loan") supported home loan could help you to purchase your first property, using the equity of a family members property or investment property instead of a deposit. ## How Much Can I Borrow? How much you can borrow, also known as your borrowing capacity, will depend on how much of a deposit you have, your current income and what expense commitments you have. It will also vary from lender to lender. ## How Much Do I Need To Set Aside For Stamp Duty as a First Time Home Buyer? Stamp duty is a tax levied on the purchase of a property. It is calculated according to the purchase price of the property and the state or territory the property is situated in. In most states the **first time home buyer** generally doesn’t have to pay stamp duty. ## What Other Expenses Will I Need To Pay? As a rough guide, you should budget for between 1-2% of the purchase price, in addition to your deposit, to cover fees and charges. The balance may include; - Building and pest reports - Valuation fees - Lenders mortgage insurance (LMI) - Solicitors fees - Insurances - Utility connection fees? Phone / gas / electricity - Council and water rates - Removalist costs ## Am I Eligible For The First Home Owners Grant? This one-off grant is available in certain states for the first time home buyer intending to live in the home they are buying. Basically, you are eligible if you are an Australian citizen or a permanent resident who is buying or building your first home in Australia and intend to occupy it as your principal place of residence within 12 months of settlement. Note that if you are purchasing the property in conjunction with others, they must also meet the same criteria for the first time home buyer grant to be available. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-first-time-home-buyer-home-loans/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-first-time-home-buyer-home-loans/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-first-time-home-buyer-home-loans/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-first-time-home-buyer-home-loans/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-first-time-home-buyer-home-loans/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-first-time-home-buyer-home-loans/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20Focus%20-%20First%20Time%20Home%20Buyer%20Home%20Loans&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-first-time-home-buyer-home-loans%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-first-time-home-buyer-home-loans/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, construction loan, family pledge loan, first home buyers, first home owner grant, first time home buyer, first time home buyers, home loan, mortgage offset loan, mortgage repayments --- ### [Owning an Investment Property - The Tax Advantages](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/) **Published:** February 10, 2014 **Author:** Brad Kirwan **Content:** Owning an **investment property** isn’t just a long-term investment strategy, negative gearing, as well as claiming depreciation and expenses is an effective way to minimise your income tax. ## Negative Gearing The term gearing is for when you borrow money to invest, therefore, negative gearing is when your costs of investing are higher than the returns achieved. Essentially, if the annual net rental income of the **investment property** is less than the sum total of the interest paid, bank charges and any other deductible expenses that are associated with maintaining the property, such as management fees, maintenance and repairs – you are said to be negatively geared. Owning an **investment property** that is negatively geared means that you can deduct the costs of owning the property from your overall income, thus reducing your tax liabilities. ## Depreciation One of the most important but regularly overlooked keys to managing the tax position of your **investment property** is engaging an expert [Quantity Surveyor](https://www.sjbqs.com.au/) to prepare a depreciation schedule**,** therefore ensuring that you are claiming as much as possible and maximizing the returns on your asset. If you are intending to renovate the **investment property,** this is even more important as you may be entitled to an outright tax deduction on the residual value of part of the property that is being renovated. Prior to any demolition, construction or renovation being undertaken, it is of vital importance that you get the depreciation schedule prepared, or you risk the possibility of missing out on the tax deduction entirely. ## Claiming Expenses for your Investment Property In addition to depreciation, there are a numerous expenses in relation to rental properties that can be claimed. Some of these include: advertising for tenantsbank charges and borrowing expensesbody corporate fees and council ratesgardening and lawn mowinginsuranceland taxpest controlproperty agent fees or commissionsrepairs and maintenancestationerytelephonewater chargestravel undertaken to inspect the property or collect rentThere advantages to owning an **investment property** are many fold, reducing your tax payable is just one of them, if you would like any further information on investing in property please don’t hesitate to contact us. *The contents of this document are intended for information purposes only and may contain personal opinions of the author. It is not intended to be a substitute for specific financial or legal advice. Before making any investment property decisions you should consider your personal situation, objectives and needs. While all reasonable care has been taken in the preparation of this information, we take no responsibility for any actions taken based on the information contained in the article or for any errors or omissions.* ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Owning%20an%20Investment%20Property%20-%20The%20Tax%20Advantages&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fowning-an-investment-property-the-tax-advantages%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/#print?share=print) - **Categories:** Property **Tags:** home loan, interest rates, investment property, mortgage repayments, negative gearing, rental property --- ### [Is Now the Right Time to Swap your Mortgage to Fixed Interest Rates?](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/) **Published:** February 12, 2014 **Author:** Brad Kirwan **Content:** With economists predicting rate rises this year, is now the right time to move your mortgage to a fixed rate. The best thing to do is fix when rates are at a low level, some people make the mistake of only fixing after **interest rates** have been up for a while and they find they are locked in at the top. Right now we’re either at or close to the bottom of the interest rate cycle so it does make sense to lock in a relatively low interest rate. Fixed rates are extremely competitive at the moment, if you are looking to fix your home loan, then now is a good time to do so. The next interest rate move is more than likely to be up; they are probably as low as they are going to be. ## Investment Property Fixed Interest Rates If you own investment property and are getting a good yield, then now could be a good time to lock that yield in, with a 3 to 5 year fixed rate. The number of borrowers locking in fixed rate loans is at a six-year high but borrowers need to weigh up more than just a headline rate, the Reserve Bank (RBA) has been cutting the cash rate since November 2011, and it is now at the historically low 2.5 per cent. However, when choosing a mortgage it’s important to compare beyond interest rates, and ensure you compare the fees and charges associated with the various loans to make a true comparison. And whilst mortgage exit fees on variable rate loans were banned in July 2011 most fixed rate loans often come with a ‘break fee’ to exit the loan before the end of the fixed term and they often restrict customers from making any extra loan repayments. You could also elect to fix only a portion of your home loan with a [split rate combination home loan](https://www.oceanhomeloans.com.au/product-focus-combination-or-split-loan/ "Product Focus – Combination Loans or Split Loans"), fixing 50% and leaving 50% on the variable rate, getting a bit of the best of both worlds. Borrowers looking to fix their loans should look around at other financial institutions not just their current lender as there are some good deals on offer. Rates are arguably going to rise from here at some point in the future. But our variable rates at the moment are so competitive, it might be the case you feel more comfortable in a variable rate. Do whatever you feel most comfortable with. If you do need some surety around your finances then now would be a good time to for you to choose to swap to fixed interest rates. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Is%20Now%20the%20Right%20Time%20to%20Swap%20your%20Mortgage%20to%20Fixed%20Interest%20Rates%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fis-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/#print?share=print) - **Categories:** Fixed Rate **Tags:** home loan, home loan refinance, home loans, interest rates, investment property, mortgage repayments, rates, refinance, split loans --- ### [3 Simple Steps to Reduce Your Home Loan](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/) **Published:** February 14, 2014 **Author:** Brad Kirwan **Content:** The longer you take to pay off the principal amount of the **home loan** you’ve borrowed for, the more interest you will end up paying – it therefore makes sense to try and put a dent in your mortgage as quickly as possible. Mortgage reduction is much easier and less painful than most people think, and with a few simple steps you’ll be sure to drive your mortgage down. ## Review your home loan Banks, Building Societies and [Non Bank lenders](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/ "Home Loans – Banks vs Non-Bank Lenders") are now offering heavily discounted lending packages to win over your business. Ensuring that your home loan still offers a competitive interest rate could save you thousands of dollars over the short, medium and longer term. However be sure to give us a call for advice on the most appropriate product for you and any fees or costs that are associated with switching before jumping ship. ## Increase your mortgage repayment frequency Changing from monthly to fortnightly repayments is the safest and most effective mortgage reduction strategy. By paying fortnightly you are effectively making a total of 13 monthly repayments over the course of a year, giving you one month’s extra repayment every year. At first glance this figure may not seem significant but you could essentially wipe more than 4 years of the life of a 25 year loan term and save tens of thousands of dollars should you engage this simple strategy. ## Make lump sums Whether you’ve just received a tax rebate, Christmas bonus or an inheritance, use every opportunity to drive down the principal amount of your mortgage. The more cash you drive into your mortgage, the earlier you’ll repay your loan. And remember, if necessary, you can usually release any additional repayments from your home loan if you have to unlock those extra dollars at some stage in the future. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%203%20Simple%20Steps%20to%20Reduce%20Your%20Home%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F3-simple-steps-to-reduce-your-home-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, interest rates, mortgage offset loan, mortgage repayments --- ### [Have you Protected your Family by Insuring your Mortgage Repayments?](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/) **Published:** February 17, 2014 **Author:** Brad Kirwan **Content:** What would happen if a serious accident or illness left you unable to meet your **mortgage repayments** or other obligations, nobody likes to think about falling ill, suffering a serious accident, or worse still, dying, but the truth is sometimes serious illnesses or misfortunes may happen. If you have substantial obligations, such as a loan for a family home, and have a family to think of, what would you and your family do should you no longer be able to earn an income and make your mortgage payments? ## Mortgage Repayments Protection When it comes to taking out a home loan you may wish to consider whether it is appropriate to take out mortgage protection insurance, illness, accident, or total or permanent disability insurance, to cover you if anything goes wrong. Covers, types and levels will vary from one provider to another but usually you will be able to take out cover for the total value of your home loan. There could be a cap or limit or different circumstances when cover could apply. Types of illness cover vary but can include Life Cover and Terminal Illness which provides lump sum benefits in the event of loss of life or terminal illness. Some types of insurance may also cover you in the case of accident and trauma. It may also cover heart attack, cancer, stroke and coronary artery bypass surgery. Cover can vary according to your individual needs, mortgage repayments and budget and you may be able to pay for your insurance in full or via instalments. If you’re a household with limited assets and you depend largely on one income, you may wish to consider your insurance needs. Call us today and we can put you in touch with qualified insurance advisers who will look after your needs. *The information in this article is not advice and does not take into account any person’s particular objectives, needs or financial situation. We recommend you speak to a qualified Financial Adviser before deciding to take out an insurance policy to cover your mortgage repayments.* ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Have%20you%20Protected%20your%20Family%20by%20Insuring%20your%20Mortgage%20Repayments%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhave-you-protected-your-family-by-insuring-your-mortgage-repayments%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/#print?share=print) - **Categories:** Insurance **Tags:** home loan, mortgage repayments --- ### [Choosing the location of your Investment Property](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/) **Published:** February 19, 2014 **Author:** Brad Kirwan **Content:** There are a number of other considerations that need to be made when purchasing an **investment property,** while proximity to family and friends and house features may be most important when buying your family home, so before committing, consider the following factors that can impact the success of your investment. ## Overall investment property goals There are many different ways to invest in real estate, from single family homes to industrial buildings. It is therefore important to consider your investment property goals when choosing which suburb and house to invest in, your goals will also help you decide how much you are willing to spend and whether you are willing to consider properties interstate or if you are looking for local properties [you can manage yourself](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/ "8 Questions you must ask your Investment Property Manager"). ## Demand It is important to consider the demographics of the area you intend to invest in. Are you targeting young couples, families or students? This will give you a good indication of the type of properties you should be looking for. Young couples will probably be looking for units close to major cities, while families are often looking for houses in the suburbs that are close to schools and other amenities. ## Tenant friendly To ensure your investment property is tenant friendly, it is important to consider how close your it is to amenities such as public transport, schools, shops and cities. If the area you are looking to invest in has a number of these amenities close by, it is probably going to rent quicker and stay rented for longer, helping you reach your investment goals sooner. These considerations will give you a good indication of the suburbs and properties you should be looking at in order to achieve your desired outcome. Once you are clear about the type of investment property you are looking for, have an idea of the area and your affordability, get out there and find them. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Choosing%20the%20location%20of%20your%20Investment%20Property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fchoosing-the-location-of-your-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/#print?share=print) - **Categories:** Property **Tags:** home loans, investment property, investors, mortgage, property investing, property investment, rental property --- ### [A Home Loan Refinance Has Never Been Easier](https://www.oceanhomeloans.com.au/a-home-loan-refinance-has-never-been-easier/) **Published:** February 21, 2014 **Author:** Brad Kirwan **Content:** Since the July 2011 introduction of the ban on home loan exit fees, a refinance of your home loan has become far more simpler and cheaper, this has sparked the interest of a greater number of borrowers, who are now reconsidering their current finance commitments and home loans. There are a number of key reasons why borrowers should consider a home loan **refinance**. Importantly, while your home loan might have been right for you when you purchased your property, there’s a good chance there might be a more appropriate product on the market that meets your changing needs. Perhaps you’ve recently had a child and moved to one income, for example; maybe you’ve changed jobs and have greater earning capacity – all of these factors can influence the relevance of your mortgage. ## Refinance for a purpose As well as ensuring that your mortgage is right for your current situation, refinancing has a range of other usages. You can refinance your mortgage to finance a renovation, free up funds to cover the deposit on an investment property, consolidate high interest rate debts, or even help your children raise a deposit for their first home. The good news is that if you’d like to take advantage of refinancing your mortgage, it’s easy to arrange, however there a number of key points you need to consider, most importantly, there may be fees and charges associated – so before you make any decision to move your mortgage do your sums to ensure you will be better off in the short and long-term. If you are unsure whether a refinance is right for you, give us a call, we can determine whether moving your home loan is the best option as well as assist you with identifying the products most suitable plus coordinate the application process. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/a-home-loan-refinance-has-never-been-easier/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/a-home-loan-refinance-has-never-been-easier/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/a-home-loan-refinance-has-never-been-easier/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/a-home-loan-refinance-has-never-been-easier/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/a-home-loan-refinance-has-never-been-easier/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/a-home-loan-refinance-has-never-been-easier/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20A%20Home%20Loan%20Refinance%20Has%20Never%20Been%20Easier&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fa-home-loan-refinance-has-never-been-easier%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/a-home-loan-refinance-has-never-been-easier/#print?share=print) - **Categories:** Mortgage **Tags:** home improvements, home loan refinance, home renovation, interest rates, mortgage repayments, refinance --- ### [How to shave years off your Home Loan](https://www.oceanhomeloans.com.au/how-to-shave-years-off-your-home-loan/) **Published:** February 24, 2014 **Author:** Brad Kirwan **Content:** Since the 1st of July 2011, banks are no longer able to penalise a mortgage holder for switching new home and residential investment home finance, with **home loan** exit fees abolished, it’s now easier for people to shop around for a better deal on their mortgage repayments. Combine that with some canny planning plus some careful saving, and your dream of being mortgage free could come sooner than you expected. ## Do your homework. First step – your existing mortgage, we can help you to compare your mortgage to what’s on the market, if you find a more competitive mortgage and your home loan was taken out before the 1st of July 2011, there could still be numerous exit and set-up charges. So have a chat to us about taking everything into consideration before making the switch. In fact, you might find that by sticking with your current loan and making a few changes, you can make a big difference to the term of your current mortgage and make your mortgage repayments work harder for you. For example, it could just be a matter of paying fortnightly instead of monthly. On a $300,000 mortgage, you can cut 4 ½ years off the life of a loan, saving almost $83,000, just by paying fortnightly. Lump sum repayments can also chip away at your mortgage – tax returns, bonuses or inheritances can reduce interest on your mortgage. Keeping your savings in an [offset account](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/ "What is a 100% Mortgage Offset Loan Account?") can also work to reduce the interest on your loan. It all adds up. ## Consolidate your debts into your home loan and prepare a monthly budget. How much interest are you paying on other personal loans and credit cards? Rolling all of your loans into your home loan might greatly reduce your monthly repayments, and give you extra cash to make additional repayments off your mortgage. Many people actually don’t have any idea how much they spend per month. It can often be a nasty surprise – if their outgoings exceed their income, it means they’re living off debt. A simple plan – cutting down on eating out, takeaway meals or coffees, or paying an extra $20 per fortnight off your mortgage can make a significant difference. So with very little effort, you could be much better off. No matter what your home loan situation, there is no doubt a strategy that can be put in place to help pay it off sooner. If you’re not sure where to start, we can help – give us a call now. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-shave-years-off-your-home-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-shave-years-off-your-home-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-shave-years-off-your-home-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-shave-years-off-your-home-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-shave-years-off-your-home-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-shave-years-off-your-home-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20shave%20years%20off%20your%20Home%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-shave-years-off-your-home-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-shave-years-off-your-home-loan/#print?share=print) - **Categories:** Mortgage **Tags:** budget, home loan, home loan refinance, mortgage repayments, offset account, repayments --- ### [Product Focus - Bad Credit History Home Loans](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/) **Published:** February 26, 2014 **Author:** Brad Kirwan **Content:** ****Bad credit history home loans, also known as non-conforming, credit impaired or specialist loans, are mortgages for borrowers who may have unique financial circumstances which mean they are unlikely to meet or conform to the rules of traditional lenders. These loans are generally for borrowers who may have an adverse credit history, existing home loan arrears, credit card or personal loan arrears or defaults, too many debts and are finding it difficult to consolidate or have been declined by another lender ## What is considered to be bad credit history? There are many different types of bad or impaired credit. The main types are: Mortgage arrears: Missed payments on your home loan. The more the number of missed payments you have had in the last 6 months then the more wary lenders will be. Generally, banks will not refinance your home loan if you have missed just one repayment! Bad credit history: Adverse listings such as defaults, bankruptcy, judgments, court writs or too many credit enquiries on your Veda Advantage credit file can make your application doubtful. Lender credit history: Your past credit history with the lender you are applying for. Lenders have a very long term memory for the customers they have had problems with in the past. Unpaid bills or tax: Outstanding bills such as council rates or late tax bills are a type of bad credit history that may not initially show up on your credit file but may be visible on the supporting documents you need to provide. Over committed: If you have too many debts for your income or your total assets are less than your total liabilities then the major banks may assess you as being insolvent or beyond help. ## I have bad credit history but exactly what does it mean? Lenders are wary of those who do not pay their defaults or those who keep having ongoing credit problems. Your bad credit history will place you in one or more of the following categories: Small paid default: If you have a small default for less than $500 and it has been paid more than six months ago then you borrow up to 90% and in some cases 95% LVR (of the property value). More than one small paid default: If you have less than $1,000 in paid defaults from financial institutions (e.g. banks) and less than $500 in paid defaults from non-financial institutions (e.g. phone companies) then you can borrow up to 85% or possibly 90% of the property value. Moderate paid defaults: If you have up to $3,000 in paid defaults we are able to help you borrow up to 80% of the property value with a prime lender, up to 90% of the property value with a specialist lender or up to 100% of the property value if you have a [security guarantee from your parents](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/ "Loan Product Focus – Family Pledge Loan"). Large paid defaults: Larger paid defaults from $3,000 to $500,000 can be considered on a case by case basis if you have a very good explanation which is backed up with strong evidence. You can borrow up to 90% of the property value with a specialist lender. Unpaid defaults: If you have any unpaid defaults then you can only borrow 90% of the property value, this is with a specialist lender. You will be required to pay the defaults before the loan is approved for purchases or from the loan for refinances. Judgements / court writs: If you have any judgements / court writs then you can borrow 90% of the property value, this is again, with a specialist lender. Part IX agreement: You can refinance your current mortgage to pay out your agreement. You must be in the agreement for a minimum of 12 months and your repayments for the agreement & existing home loan must be perfect. Bankruptcy: You must be discharged, then you can borrow 90% of the property value, this is again, with a specialist lender. **Bad credit history home loans** are generally for people who have had unfortunate events such as a divorce, loss of job, injury or business failure which has resulted in adverse entries on their credit file, in most cases there is a compelling reason as to why you have defaulted. ## How do specialist lenders work? Specialist lenders are far more flexible than the major banks. The interest rates that are offered reflect the risk to the lender. Therefore, the higher the risk that your loan presents to the lender then the higher the interest rate you will be charged. Specialist lenders will assess your bad credit history home loan application on a case by case basis and listen to your explanation as to how you arrived in this situation and why you need debt relief. These lenders can often rapidly approve your application to meet deadlines from your creditors. Generally if you are borrowing below 80% of the property value then you can get a cheaper interest rate, for those looking to borrow over 80% or have had severely impaired credit histories, then the rate will be higher ## Are there Low Doc bad credit history home loans? Bad credit history home loan lenders are flexible with self-employed borrowers who need a Low Doc home loan because they cannot prove their income using financials and tax returns. In some cases, they can help start-up businesses for people who have an ABN that has been active or GST registered for less than 2 years. They can accept Low Doc home loans with an unpaid default, mortgage arrears, judgement and even discharged bankruptcy. Usually, you will sign an income declaration or provide an accountants letter to prove your income. **Note**: You can usually only borrow up to 60% of the property value. In stronger cases, 80% may be considered. This is likely with a specialist lender at a higher interest rate. ## What are the benefits of debt consolidation? By rolling all of your debts into one easy repayment each month it will be much easier to manage your repayments and it will reduce your overall repayments. This will prevent further damage to your credit history and you can stop your bank from repossessing your home. Now, you have an “exit strategy” instead of fighting to keep your head above water. ## What is a possible drawback of debt consolidation? A possible drawback of debt consolidation is that you may have to pay a higher interest rates on bad credit history home loans, however overall your repayments will usually be lower. ## Solution focused lending The idea of home loans for people with bad credit history is to be a short to medium term fix, not a long term solution such as a second mortgage. It is often much cheaper to pay a higher interest rate for a few years than it is to sell your home and then buy a new one later. The cost of selling then buying is often more than 8% of the property value. You should always enter into bad credit history home loans with the intent of refinancing back to a prime lender in around 2 to 3 years’ time, when your credit history is clear again, to help you make a fresh start and allow you to keep your home, you will need to repay your bad debts; clean up your credit file and then once you have a proven track record of repayments on your mortgage with no arrears you can refinance to a better interest rate. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20Focus%20-%20Bad%20Credit%20History%20Home%20Loans&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-bad-credit-history-home-loans%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/#print?share=print) - **Categories:** Credit History **Tags:** bad credit history home loans, credit report, family pledge loan, home loan, home loan refinance, interest rates, mortgage, mortgage repayments, self-employed --- ### [Have we seen the last cuts to Interest Rates - the RBA thinks so](https://www.oceanhomeloans.com.au/have-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so/) **Published:** February 28, 2014 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia (RBA) looks set to keep **interest rates** at record lows for the foreseeable future following minutes from its most recent board meeting, the Reserve Bank noted current market pricing suggested “little chance of a change in monetary policy at present”. ## Low interest rates helping the housing market The board decided at its February meeting to keep rates on hold at 2.5%, following a series of cuts from its peak of 4.75% in November 2011. “Members noted that the effects of low interest rates were clearly evident in the housing market, where prices had increased further and turnover had picked up to be just below average. These conditions were expected to provide further support to new dwelling activity over the period ahead, and leading indicators of dwelling investment had increased. Members observed that the softness in commercial construction meant that there was labour available to support the strong growth of higher-density dwelling construction. Growth of housing credit was gradually picking up, particularly so for investors.” said the [RBA](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/ "RBA keeps a firm grip on the wheel as interest rates remain on hold."). “The overall funding composition of Australian banks was little changed, with deposits remaining the dominant source of funding, but there had been a shift from term to at-call deposits in response to changes in relative interest rates.” “These conditions were expected to provide further support to new dwelling activity over the period ahead, and leading indicators of dwelling investment had increased.” ## Prudent to keep interest rates on hold “At recent meetings, the Board had judged that, given the substantial degree of monetary policy stimulus already in place, it was prudent to keep policy unchanged while assessing the continuing impact of that stimulus. There had been further signs in recent months that policy was having its intended effects. The exchange rate had also depreciated further since the December meeting. If sustained, a lower exchange rate would be expansionary for economic activity and assist in achieving balanced growth of the economy.” In summary, the RBA’s decision was once again that it would be prudent to keep rates unchanged and they would continue to examine the data over the period ahead to assess whether monetary policy remained appropriate, with members noting that, “if the economy evolved broadly as expected, the most prudent course would likely be a period of stability in interest rates.” ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/have-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/have-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/have-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/have-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/have-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/have-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Have%20we%20seen%20the%20last%20cuts%20to%20Interest%20Rates%20-%20the%20RBA%20thinks%20so&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhave-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/have-we-seen-the-last-cuts-to-interest-rates-the-rba-thinks-so/#print?share=print) - **Categories:** Interest Rates **Tags:** home loan, interest rates, investors, mortgage repayments, property investment, variable interest rates --- ### [RBA sits on the sidelines as Interest Rates remain on hold](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/) **Published:** March 4, 2014 **Author:** Brad Kirwan **Content:** [](https://www.oceanhomeloans.com.au/wp-content/uploads/2013/09/Basic-Home-Loans.jpg)The Reserve Bank of Australia has indicated that we are in a ‘period of stability’ by leaving **interest rates** on hold during their monthly meeting this afternoon. The current cash rate sits at an historic low of 2.50%. Indeed, the RBA has gone on record as stating that global economic conditions have ‘evolved broadly as expected’. In Australia, this has led to an improvement in levels of consumption, housing investment, a surge in job advertisements and better business conditions. ## Housing growth on the back of low Interest Rates Speaking of housing, the market continued to show signs of growth last month. According to RP Data, overall growth in Australia’s eight capital cities for 2013 was 10%. As well, the RP Data report for their January ‘Nine Rewards Housing Market Sentiment’ survey shows that 76% of those surveyed think now is a good time to purchase a home. ANZ’s head of Australian Economies Justin Fabo states that “we are encouraged by the pick-up in housing activity, consumer spending, business conditions and signs that job ads are slowly increasing.” As the housing market is ‘all systems go’ and interest rates are at historically low rates, this may be the perfect time to consider your options. As usual, we are here to help so please feel free to give us a call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20sits%20on%20the%20sidelines%20as%20Interest%20Rates%20remain%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-sits-on-the-sidelines-as-interest-rates-remain-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, home loan refinance, interest rates, mortgage, property investment, repayments --- ### [SMSF Borrowing - When is a Super Fund allowed to borrow to invest](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/) **Published:** March 7, 2014 **Author:** Brad Kirwan **Content:** There are laws restricting the use of SMSF’s to borrow money, and restricting the recourse of the lender in the event that the trust cannot meet its repayment obligations, a basic outline of the rules a SMSF trust must follow in order to borrow money, is as follows: The **SMSF borrowing** must be used to finance or refinance the acquisition of a “single acquirable asset” (the residential or commercial investment property) which the SMSF trustee is not otherwise prohibited from acquiring by the SIS Act or any other law. The borrowing may also be used to meet expenses incurred in connection with the borrowing or acquisition (such as conveyancing fees, stamp duty, brokerage or loan establishment costs), or in maintaining or repairing the asset. However, the borrowing cannot be used to meet expenses incurred in improving the asset. The asset is held in trust (the security trust), also known as a bare trust, so that the SMSF trustee acquires a beneficial interest in the asset. The SMSF trustee has a right to acquire legal ownership of the asset by making one or more payments after acquiring the beneficial interest in the asset. The rights of the lender or any other person against the SMSF trustee in connection with any default on the borrowing are limited to rights relating to the asset. This protects the other assets of the SMSF. This limitation applies to any rights of recovery that the security custodian and any director of the SMSF trustee may have against the SMSF as a result of their guarantees and the mortgage. If, under the arrangement, the SMSF trustee has a right relating to the asset (other than the right to acquire legal ownership) the rights of the lender or any other person against the SMSF trustee in connection with or as a result of the SMSF trustee’s exercise of their rights are limited to rights relating to the asset. The asset is not subject to any charge including a mortgage, lien or other encumbrance. Each SMSF borrowing arrangement can only be for a “single acquirable asset”. In the case of strata title or subdivisions, each title is considered a separate asset. ## SMSF borrowing – are there any restrictions? There are restrictions on SMSF lending which prevent some transactions from taking place. For example: Construction loans are not available. However the SMSF can pay for renovations out of its own funds, but cannot use the borrowed additional funds for this purpose. Buying a property in your SMSF that you intend to live in (owner occupied business premises are acceptable). Selling a residential property to your SMSF, that you or a related party owns (commercial property is acceptable). You may also wish to speak to your accountant or financial adviser to find out if your intended SMSF transaction complies with lender rules and government regulations. *The content of this page provides general advice about SMSF borrowing processes, SMSF home loans, lender requirements and our service. It does not take into consideration your specific personal or financial circumstances, needs and objectives and is not a specific recommendation. We recommend that you seek independent financial advice before borrowing money to invest via your SMSF.* ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20SMSF%20Borrowing%20-%20When%20is%20a%20Super%20Fund%20allowed%20to%20borrow%20to%20invest&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsmsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/#print?share=print) - **Categories:** SMSF **Tags:** investment property, investor, property investing, property investment, rental property, self managed super fund, smsf borrowing --- ### [How do Offset Account Home Loans work?](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/) **Published:** April 14, 2014 **Author:** Brad Kirwan **Content:** **Offset Account Home Loans** are very similar to all-in-one loans, rather than putting all your salary and other income into your loan, it goes into a transaction account that is directly linked to your home loan. Any balance in the offset account is ‘offset’ against your home loan. This reduces the amount of interest you have to repay, making your money work harder for you. So long as your home loan interest rate is higher than your savings account interest rate, you’re generally better off using offset account home loans, and not earning the interest. That’s because you’re saving more money by paying less interest on your home loan, compared to the interest you’d be earning on your high interest savings account. Don’t forget that you’d probably have to pay tax on any interest that you earned in a savings account too. But because offset account home loans don’t earn any interest, you won’t pay this tax by using an offset transaction account. An offset account is a linked transaction account that has the usual ATM, EFTPOS, Phone Banking, Internet Banking and cheque book access, by depositing all your income into the offset transaction account the amount of interest that you pay for your home loan will be decreased. Usually home loan interest is calculated daily, based on the balance of your home loan each day. At the end of each month the lender will total up the interest from each day in that month (and charge it all at once). This means that every dollar you have in your offset account saves you interest every day that it’s there. And, whenever you need to access your money it is always available to you in the usual ways, such as an ATM or online. ## Offset Account Home Loans – ensure you get the most from your account - Have your salary deposited into your offset account so that the amount of interest you pay will be less - If you have a credit card, make your day-to-day purchases with the card and pay the card in full on the due date, thereby retaining as much of your cash as possible in the offset transaction account for as long as possible - Ensure that you have sufficient funds in the offset transaction account to make your home loan and credit card repayments - You can redraw from your home loan account to your offset transaction account if needed - If you don’t have a credit card or prefer to only use a credit card for one-off purchases use your account for transactions with your debit card including ATM, EFTPOS, internet banking, cheque book and BPAY - Make your Home Loan repayments from the offset transaction account So, if you’re hoping to get debt-free as fast as possible, offset account home loans can be one of the most valuable facilities at your disposal, establishing one of these accounts alongside your home loan will help you to save money in the long run on your repayments, with these savings helping you to further your own living situation and work towards helping you generate as much wealth as possible. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20do%20Offset%20Account%20Home%20Loans%20work%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-do-offset-account-home-loans-work%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/#print?share=print) - **Categories:** Loans **Tags:** home loan, home loan refinance, interest rates, mortgage offset loan, mortgage repayments, offset account, offset account home loans --- ### [Interest Rates to remain stable - Confidence in property on the rise](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/) **Published:** April 22, 2014 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia board has noted the most prudent course ahead was most likely a period of stability in **interest rates**, at recent meetings, the Board had judged that it was prudent to leave the cash rate unchanged and members noted that the cash rate could remain at its current level for some time if the economy was to evolve broadly as expected. Members began their discussion of the domestic economy acknowledging a range of indicators of labour demand suggested a modest improvement in prospects for employment, although the unemployment rate was still expected to edge higher for a time. Members observed housing market conditions remained strong, with housing prices rising in March to be 10½ per cent higher over the year on a nationwide basis. Members noted that dwelling investment had increased moderately in the December quarter, with a pick-up in renovation activity, and that the high level of dwelling approvals in recent months foreshadowed a strong expansion in dwelling investment. ## Markets predict interest rates to remain stable The April meeting minutes also noted financial markets and money market rates in Australia continued to imply that interest rates were expected to remain unchanged over the remainder of the year. The Reserve Bank reasoned that it was appropriate to leave the cash rate on hold in light of information suggesting slightly firmer consumer demand over the past summer and foreshadowing of a solid expansion in housing construction. Ocean Home Loans is of the opinion that the Board’s decision to leave the cash rate on hold at 2.5 per cent will bolster confidence in the Australian property market, 9 consecutive months of interest rates remaining stable can only be positive news for the property market, leading to a upwsing of interest in property in the months to come, encouraging more buyers to enter the market. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20Rates%20to%20remain%20stable%20-%20Confidence%20in%20property%20on%20the%20rise&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-to-remain-stable-confidence-in-property-on-the-rise%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, home loan refinance, interest rates, variable interest rates --- ### [Granny Flats - Turn your own home into a Rental Property](https://www.oceanhomeloans.com.au/granny-flats-an-easy-investment-property-income-opportunity/) **Published:** April 24, 2014 **Author:** Brad Kirwan **Content:** One of the rising trends in the home property market is to add a granny flat to an existing home, making part of your own home a **rental property**. Contrary to the name and perhaps expectations, a granny flat doesn’t have to be occupied by your favourite granny – there are plenty of other people interested in small, affordable housing. In today’s increasingly crowded cities, many local governments are beginning to realise that allowing people to add living areas to their existing properties can help solve the housing problems in many of Australia’s cities. And so, that extra space that you never use could easily become a very good income earner, especially if you do your sums and your homework thoroughly before you start. ## What exactly is a ‘granny flat’? Generally, they are classed as ‘secondary dwellings’. Local council regulations are far more flexible than they used to be. Naturally, every area is likely to have different regulations, but most would cover the following: - They can only be built on an existing residential zoned property - Only one granny flat can be built on the property - The block must be a minimum size of 450m2 - The owner of the granny flat must be the owner of the primary dwelling - The maximum living space of the granny flat is limited to 60m2, not including decks, verandahs, carports etc. - Granny flats can’t exist on the strata title, sub-divided or a community title property - They can’t be built on commercial property or unoccupied land - Granny flats can either be free standing or attached to the primary dwelling - Granny flats must have their own, unobstructed pedestrian access, so if it’s built onto your house, then you must provide a separate entrance ## Maximising your granny flat’s rental property potential If you want to build a rental property granny flat on your property, it’s important to consider what you should do to make the most of its earning potential. **The right location**. If you’re building in a popular city-based area, there is a greater likelihood of finding potential interest and the income may be comparable to a 2-bedroom unit. If you’re in an outer suburb or rural location, it may be harder to find tenants. **The right builders**. Get a realistic idea of the total cost involved. The popularity of granny flats has created an emergence of builders who specialise in the field – talk to several. Of course, there are no set costs, although a maximum loan of around $100,000 might be a realistic limit. A company with the right experience will help you obtain the right council approval and appoint the right tradespeople. This is a safer option than doing it all yourself – managing all the parties and avoiding potential conflict is not to be underestimated. **The right result**. Don’t try to cut corners – unless your finished granny flat is attractive, well equipped and desirable to the rental market, you won’t be able to realise the best returns. **The right mind-set**. You should be aware that some headaches are inevitable. Every building project takes time and trouble, and you shouldn’t expect the process to be plain sailing all the way through. ## Conclusion Do your research, consult the experts, talk to local real estate agents for their advice, make sure you can afford the final bill and ensure there is a ready market for your rental property granny flat on completion. Get all the boxes ticked and your granny flat could be one of the wisest financial moves you’ve ever made. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/granny-flats-an-easy-investment-property-income-opportunity/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/granny-flats-an-easy-investment-property-income-opportunity/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/granny-flats-an-easy-investment-property-income-opportunity/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/granny-flats-an-easy-investment-property-income-opportunity/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/granny-flats-an-easy-investment-property-income-opportunity/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/granny-flats-an-easy-investment-property-income-opportunity/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Granny%20Flats%20-%20Turn%20your%20own%20home%20into%20a%20Rental%20Property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fgranny-flats-an-easy-investment-property-income-opportunity%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/granny-flats-an-easy-investment-property-income-opportunity/#print?share=print) - **Categories:** Investing **Tags:** construction loan, home loan, home loan refinance, home renovation, investment property, rental property --- ### [Buying new or established - which delivers best for property investors](https://www.oceanhomeloans.com.au/buying-new-or-established-which-delivers-best-for-property-investors/) **Published:** April 30, 2014 **Author:** Brad Kirwan **Content:** If there’s one topic **property investors** are unlikely to ever agree on, it’s what makes a better investment opportunity: established or new? Advocates of buying ‘established’ argue that established dwellings are often more affordable and could be improved to generate equity, where those buying ‘new’ argue that the tax incentives new properties deliver outperforms the potential equity gains for established properties. Here are some reasoning’s for either side of the argument, but regardless of your opinion there’s no ‘right or wrong’ answer. ## Reasons property investors buy ‘New’ **Tax Incentives:** If you’re an investor, one of the big advantages of buying a newly constructed property is that you can claim depreciation as a tax-deductible cost. This includes depreciating the assets in the building and the cost of the building itself, as well as for wear and tear on fixtures and fittings in the property. The newer the property, the higher the level of depreciation. **Better Quality Tenant:** Brand new properties tend to attract a [better quality tenant](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/ "How do you find the ideal tenants for your rental property?"), which means a higher rental income and fewer headaches for the landlord! **Less Overheads:** Unlike new homes that need little maintenance, owners of second-hand properties are often faced with immediate maintenance issues. The costs of repair in older homes can greatly inflate ongoing expenses. **Builders Warranty:** As a purchaser of a new property, home warranty insurance protects you for several years against major building defects, which all builders of new homes in Australia must carry. ## Reasons why property investors buy ‘Established’ **Equity:** There is little opportunity to add value to a new home, as opposed to the investment made in an established home can grow in the future should you choose to renovate or extend. **Cost-Effective:** It’s often said that you get more house for less dollars buying a second-hand home than when buying a new one. For entry-level investors, old properties can have the advantage of an affordable price tag. **Particular Appeal:** Older homes often have great features that can’t be replicated in new homes. For example a well-maintained period style home will reap rewards in capital growth down the track. **Known Sales History:** There’s less guesswork in buying an established property because you’ll be able to trace back the property’s appreciation and find out how the suburb has performed. This can help give you the assurance you need that you’re buying a good property. Established and new properties both have specific, unique advantages and what counts for property investors is that your decision matches your personal strategy and goals. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/buying-new-or-established-which-delivers-best-for-property-investors/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/buying-new-or-established-which-delivers-best-for-property-investors/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/buying-new-or-established-which-delivers-best-for-property-investors/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/buying-new-or-established-which-delivers-best-for-property-investors/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/buying-new-or-established-which-delivers-best-for-property-investors/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/buying-new-or-established-which-delivers-best-for-property-investors/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Buying%20new%20or%20established%20-%20which%20delivers%20best%20for%20property%20investors&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fbuying-new-or-established-which-delivers-best-for-property-investors%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/buying-new-or-established-which-delivers-best-for-property-investors/#print?share=print) - **Categories:** Property **Tags:** construction loan, home improvements, home renovation, investors, property investing, property investors, rental property --- ### [The benefits of Interest in Advance for property investors](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/) **Published:** May 2, 2014 **Author:** Brad Kirwan **Content:** An Interest in Advance loan could be just what **property investors** need to make the most of available deductions. The tax season is upon us and for investors, that usually means hunting around for every available deduction. One of the most popular options is an Interest in Advance loan. Interest in Advance loans are like most standard fixed-rate, interest only loans but with one key difference: depending on their individual circumstances, borrowers can pre-pay the next year’s interest before the 30th of June and claim it as a tax deduction in the current year, where the underlying loan purpose is for producing income. ## Why should property investors pay Interest in Advance Eligible investors can effectively get part of their interest back in the form of a tax refund. Interest in Advance loans suit property investors who are eligible for a tax deduction on the interest incurred. What investors are effectively doing is bringing forward up to a year’s worth of interest to an earlier financial year so the deduction occurs sooner. Lenders typically offer a discounted rate, often around the .10% to .15% mark, which on a $300,000 loan results in an interest saving of $300 to $350 per year. The discount offered is not really enough to encourage most people to pre-pay their interest and once the time value of money is accounted for, the savings diminish even further. However, it could be beneficial to pre-pay your interest depending on other financial activities that have occurred in this financial year. Being able to claim 2 years of interest on your investment debt in the one financial year might save you a significant amount of tax, which is why if you have investment loans you should be talking to your accountant or financial adviser now about the best way forward. While loan features vary between lenders, Interest in Advance loans generally offer a fixed rate of interest and terms of one to five years. Depending on the institution, interest can be paid in advance monthly, quarterly, six monthly or annually. Because it is an interest only loan, borrowers must pay out the loan at the end of the loan term or roll it over into another loan. It may be possible to split the loan and make extra repayments. ## What are the drawbacks There are also important limitations borrowers should be aware of. The most important is the requirement to pay a fixed sum of interest (often $10,000 or more) at a set time each year, quarter or month. For this reason, Interest in Advance loans suit investors with a healthy cash flow or those with good savings habits. Borrowers may also be hit by early repayment fees should they wish to pay out the loan before the end of the fixed interest term. Investors should remember that because these are fixed rate loans, there is a trade-off with reduced flexibility. You cannot make unlimited additional repayments and there may be early repayment costs. On the plus side, investors get to lock in their interest rate, giving them certainty over repayments for the life of the fixed term. ***Warning:*** *The content of this article (The benefits of Interest in Advance for property investors) provides **General Advice** about Interest in Advance investment loans. It does not take into consideration your specific personal or financial circumstances, needs and objectives and is not a specific recommendation. We recommend that you seek independent financial advice about the tax benefits or implications of *Interest in Advance investment loan*s.* ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20benefits%20of%20Interest%20in%20Advance%20for%20property%20investors&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-benefits-of-interest-in-advance-for-property-investors%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/#print?share=print) - **Categories:** Investing **Tags:** fixed interest rates, interest in advance, interest rates, investment property, investors, property investment, property investors --- ### [Inflation remains within target - Interest rates to remain on hold](https://www.oceanhomeloans.com.au/inflation-remains-within-target-interest-rates-to-remain-on-hold/) **Published:** May 5, 2014 **Author:** Brad Kirwan **Content:** Inflation figures released by the ABS on April 23 favour the RBA maintaining **interest rates** at their current levels when the board meets tomorrow afternoon in Sydney. The [Australian Bureau of Statistics](https://www.abs.gov.au/AUSSTATS/abs@.nsf/mediareleasesbyReleaseDate/902A92E190C24630CA2573220079CCD9?OpenDocument "ABS") reported that the Consumer Price Index (CPI) rose 0.6% in the March quarter 2014, following a rise of 0.8% in the December quarter 2013. The most significant price rises this quarter were for tobacco (+6.7%), automotive fuel (+4.1%), secondary education (+6.0%), tertiary education (+4.3%), medical and hospital services (+1.9%) and pharmaceutical products (+6.1%). These rises were partially offset by falls in furniture (-4.3%), maintenance and repair of motor vehicles (-3.3%), international holiday travel and accommodation (-2.4%) and domestic holiday travel and accommodation (-2.4%). The tobacco price increase was caused by the federal excise tax rise from 1 December 2013 as well as the March 2014 biannual indexation based on the ABS’ Average Weekly Ordinary Times Earnings (AWOTE) rate. Education prices have risen with the commencement of the new school year. Rises for medical and hospital services and pharmaceutical products were a result of the cyclical reduction in the proportion of patients who qualify for subsidies under the Medicare Benefits Scheme and Pharmaceutical Benefits Scheme at the start of each calendar year. The CPI rose 2.9% through the year to the March quarter 2014, following a rise of 2.7% through the year to the December quarter 2013. ## Interest rates to remain on hold There have been concerns that inflation would broach the RBA’s threshold 3 per cent mark during March, giving the RBA no choice but to increase interest rates, but theses figures will have eased concerns somewhat. Some economists now predict the official cash rate will remain low for some months to come, these results are great news for the residential construction industry and will help the recovery continue. This latest inflation data will [confirm the RBA’s April position](https://www.oceanhomeloans.com.au/interest-rates-to-remain-stable-confidence-in-property-on-the-rise/ "Interest Rates to remain stable – Confidence in property on the rise") that it is prudent to maintain interest rates at record low levels. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/inflation-remains-within-target-interest-rates-to-remain-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/inflation-remains-within-target-interest-rates-to-remain-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/inflation-remains-within-target-interest-rates-to-remain-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/inflation-remains-within-target-interest-rates-to-remain-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/inflation-remains-within-target-interest-rates-to-remain-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/inflation-remains-within-target-interest-rates-to-remain-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Inflation%20remains%20within%20target%20-%20Interest%20rates%20to%20remain%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finflation-remains-within-target-interest-rates-to-remain-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/inflation-remains-within-target-interest-rates-to-remain-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, construction, interest rates, mortgage repayments, variable interest rates --- ### [6 Mistakes to avoid when applying for a mortgage refinance](https://www.oceanhomeloans.com.au/6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance/) **Published:** May 7, 2014 **Author:** Brad Kirwan **Content:** Avoid these common mistakes when applying for a **mortgage refinance** of your home or investment loan and you will have a simple, trouble-free experience. Successfully navigating the refinancing process can enable you to take advantage of better rates and features, as well as provide finance for a renovation, construction or property purchase. **Late or missed payments:** Lenders want to avoid taking on risk, which is why they ask for at least six months of loan statements to check your conduct. They won’t be impressed with missed/late repayments or going over the limit on any lines of credit, so wait until you have six months of clean history before making an application. **Busy credit file:** Every time you submit an application to a lender, it is recorded on your credit report. When the lender sees a number of applications they wonder why your application hasn’t yet been approved by another lender – this can be all the reason they need to decline the application. **Not planning ahead:** When shopping for a new loan, you’re probably looking for one that will suit your needs now, but what about a few years down the track? If you move house or take a career break to raise a family, the loan you choose needs to accommodate these life changes. **Failure to lock it in:** If you fail to lock-in the new favourable rate of interest on your new loan, if you have chosen a [fixed rate mortgage](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/ "Interest Rates To fix or not to fix – that IS the question"), it may increase by the time your loan gets processed. **Not taking costs into account:** Sometimes the savings you could make by switching loans are outweighed by the cost involved. Make sure you know what up-front fees you will be charged and conduct a thorough cost-benefit analysis before you go ahead. **Shoddy paperwork:** Not supplying all the supporting documents when putting in your application can send it back down to the bottom of the pile and the waiting game will start over again. It’s equally important when your loan is approved to check the documents properly before signing for a clear idea of the terms and conditions. ## The broker edge to a mortgage refinance It’s our business as your mortgage broker to know how the criteria varies among different lenders and which lender you will have most success applying to. If you wish to lock-in a rate we can arrange that facility. We have up to date software that can calculate all the fees and charges for your mortgage refinance. As your mortgage broker we are experts at guiding borrowers through the paper chase and explaining what’s in the fine print. Give us a call anytime about helping you successfully navigate your home or investment mortgage refinance. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20Mistakes%20to%20avoid%20when%20applying%20for%20a%20mortgage%20refinance&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-mistakes-to-avoid-when-applying-for-a-mortgage-refinance/#print?share=print) - **Categories:** Refinance **Tags:** construction loan, credit report, home loan refinance, home renovation, mortgage refinance, property investment --- ### [Official interest rates remain at historic low of 2.50%](https://www.oceanhomeloans.com.au/official-interest-rates-remain-at-historic-low-of-2-50/) **Published:** May 6, 2014 **Author:** Brad Kirwan **Content:**  No news is good news for mortgage holders and people with an eye on the property market. With Australian **interest rates** at an all time low, the Reserve Bank of Australia did as was expected, keeping rates on hold. The official cash rate stands at 2.50%. Despite a ‘tough’ budget looming, experts insist that Australia has one of the healthiest economies in the world. Our inflation rate, unemployment and debt-to-GDP rates are the envy of other OECD countries. Overseas indicators show positive signs as well, with the US economic data displaying improvement. Several European countries that have faced economic crises, such as Greece, also appear to be moving towards recovery mode. ## Low interest rates sees housing market remain strong As far as the property market is concerned, the traditional chilling of the weather also cools sales fervour. However, RP Data’s senior research analyst Cameron Kusher sees the housing market remaining strong, particularly in capital cities. He cites population growth as a key reason that the property market will continue to prosper. The increasing need for rental property, in particular, “…is why the market is now seeing a rise in dwelling approvals, on the back of low interest rates,escalating housing demand and rising home values.” “It is likely that as the delivery of units increases there actually needs to be a greater number of units constructed in order to cater for population growth,” he states. If you’ve been thinking about investment property, this should be music to your ears. With historically low interest rates, high demand in rental property the end of the financial year looming, perhaps now is the time to look at your options. As always, we’re here to share our expertise with you, so give us an obligation-free call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/official-interest-rates-remain-at-historic-low-of-2-50/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/official-interest-rates-remain-at-historic-low-of-2-50/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/official-interest-rates-remain-at-historic-low-of-2-50/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/official-interest-rates-remain-at-historic-low-of-2-50/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/official-interest-rates-remain-at-historic-low-of-2-50/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/official-interest-rates-remain-at-historic-low-of-2-50/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Official%20interest%20rates%20remain%20at%20historic%20low%20of%202.50%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fofficial-interest-rates-remain-at-historic-low-of-2-50%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/official-interest-rates-remain-at-historic-low-of-2-50/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, mortgage repayments, rates, variable interest rates --- ### [9 Questions you must ask your Mortgage Broker](https://www.oceanhomeloans.com.au/9-questions-you-must-ask-your-mortgage-broker/) **Published:** May 14, 2014 **Author:** Brad Kirwan **Content:** With home loan borrowers facing an ever increasing choice of home loans, it’s not surprising that many engage the services of a mortgage broker to find that home or investment loan that is just right for their particular needs and personal situation, but make sure that the broker you choose is definitely the broker for you, here is a list of important questions you should ask. ## Are they a Member of the MFAA? As a member of the MFAA the **mortgage broker** you are dealing with subscribes to the industry Code of Practice which promotes professionalism, ethical behaviour and transparency in all stages of the loan process. ## What happens when interest rates change? Where your mortgage (or part thereof) is going to be on a variable interest rate, it’s important to know what happens when interest rates rise. Ask your mortgage broker to quantify what your repayment would be if interest rates were to rise 1%, 3%, or 5%. Don’t necessarily let these calculations scare you off property investment, but be aware that your 25 or 30 year mortgage term is a long time, and interest rates won’t remain the same forever. Knowledge and forward planning is your best defence. ## What are the fees and charges on the mortgage? Ask for a clear indication of the fees and charges you will be liable for with the mortgage. These charges may relate to the mortgage set-up, application fees, property valuation fees, ongoing monthly fees, variation fees and break costs. Do your maths to understand the impact of these fees and remember that sometimes a large upfront fee is going to work out cheaper than a small monthly fee. ## What is the application/approval process like? Ask your broker to explain how the application/approval process will work, what you have to do, and how long it is going to take. Ask whether you should be getting pre-approval for your mortgage now or wait until you have found your property. ## What experience and expertise do they have? Don’t be afraid to ask how long your mortgage broker has been working in the industry or what their qualifications are. This person is going to help you make one of the biggest purchases of your life so make sure they are someone you trust and have confidence in. ## Can I switch from a variable to a fixed interest rate and vice versa? While borrowers have the option of switching loan types, it is important to know the costs involved and the pros versus cons of switching. Take your time when deciding on an interest rate type in the beginning, to avoid the extra costs that can arise when switching. ## Can I choose when I want to make my repayments? Opting to halve your monthly repayment and repay it fortnightly can make a big difference. This is because there are 26 fortnight’s in the year, meaning you can make the equivalent of 13 monthly repayments. ## How much can I borrow? Before you start looking for a property, you need to know if it’s in your price range. Several factors come together to determine how much money a lender will offer you, including your income, other debts and credit history. Different financial institutions have different lending criteria, so ask your mortgage broker or shop around. The second important aspect of this question is, how much can I afford to repay? How much you can comfortably repay based on your lifestyle and other commitments is often less than the maximum amount a financial institution will lend you. ## What commission is your mortgage broker being paid? Don’t be afraid to ask a broker what they are being paid for their home loan recommendations. MFAA’s Code of Practice requires its credit advisers to reveal the commissions they are being paid by a lender on a particular home loan product. To borrow with confidence, only deal with an MFAA accredited mortgage broker. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/9-questions-you-must-ask-your-mortgage-broker/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/9-questions-you-must-ask-your-mortgage-broker/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/9-questions-you-must-ask-your-mortgage-broker/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/9-questions-you-must-ask-your-mortgage-broker/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/9-questions-you-must-ask-your-mortgage-broker/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/9-questions-you-must-ask-your-mortgage-broker/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%209%20Questions%20you%20must%20ask%20your%20Mortgage%20Broker&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F9-questions-you-must-ask-your-mortgage-broker%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/9-questions-you-must-ask-your-mortgage-broker/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, fixed interest rates, home loan, home loan refinance, interest rates, mortgage broker, mortgage repayments, split loans, variable interest rates --- ### [First time investors - 6 key Investment Property mistakes to avoid](https://www.oceanhomeloans.com.au/first-time-investors-6-key-investment-property-mistakes-to-avoid/) **Published:** May 9, 2014 **Author:** Brad Kirwan **Content:** With interest rates at record lows and banks falling over themselves to attract new customers, there is a perfect storm building for those who want to get into the **investment property** market, but many of them will never proceed beyond their first investment purchase because they make simple financial mistakes, hindering their ability to increase their property portfolios. The most common mistakes are: ## Failure to obtain a tax depreciation schedule Not undertaking a tax depreciation report at the time of settlement. If you don’t have a tax depreciation report completed at the time of settlement then you may not be able to claim the generous tax depreciation benefits that you are entitled to. These can equate to some 60% of the purchase price of the property and this cash flow can assist the investor to purchase more properties. It is therefore important that you obtain the services of a professional tax depreciation company to complete a tax depreciation schedule as soon the property is purchased. Above all, don’t be afraid to ask for professional assistance when making this important decision. All too many property investors dive in headfirst to a deal which may not be the best option, due to a lack of foresight and market research. You can avoid this by keeping these common mistakes in mind and doing the necessary ground work. ## No budget Purchasing property – whether for investment purposes or personal use – is always a big decision to make. This is why it is important to set a carefully constructed budget well in advance of making a final purchase. Your budget should take into account your current position, as well as any future considerations that might impact your financial situation. Once you have set a budget, make sure that you stick to it and don’t give in to the temptation to spend more than you can afford. ## The wrong loan structure for an investment property Purchasing the property with a principal and interest loan similar to purchasing an owner occupier home. The interest component of the loan is the only part of a home loan that is deductible for tax purposes and the amount of money you spend on paying off the principal limits your cash flow to purchase additional properties. That is why investors prefer interest only loans. ## Missing inspections Like professional renovations, building inspections are best left in the hands of a professional. It’s hard to spot flaws in a building’s structure with an untrained eye. Hire an independent building inspector to give you some idea of what this property may really cost you if there are defects. ## Carefully choose your property manager A quick over the phone survey of property managers can quickly arm you with the knowledge of what is in demand from tenants and the rents they are willing to pay. Be sure to ring managers that aren’t connected to the sales agent of the property you are trying to buy. This knowledge can greatly help you plan income and expenditures if you need to make additions to renovations to assist your asset to perform. Even worse is trying to select the tenant yourself rather than using the services of a number of reliable property management companies. Bad tenants will not pay their rent and damage the property. After experiencing a bad tenant, many first time investors often sell their first investment property because of the financial losses incurred. ## Jumping on the bandwagon If a particular suburb or development is blowing up in the media, it’s natural to want to jump in headfirst. Yet by the time a trend is widely reported, it may already be too late and lead to inflated prices. Take a step back and do your research to find out whether this hotspot is really showing signs of long-term growth. Some factors to consider include postcode performance trends, median prices for similar properties, and how long properties are sitting on the market. Avoiding these common mistakes when purchasing your first investment property will certainly help put you on the road to investment success. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/first-time-investors-6-key-investment-property-mistakes-to-avoid/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/first-time-investors-6-key-investment-property-mistakes-to-avoid/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/first-time-investors-6-key-investment-property-mistakes-to-avoid/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/first-time-investors-6-key-investment-property-mistakes-to-avoid/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/first-time-investors-6-key-investment-property-mistakes-to-avoid/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/first-time-investors-6-key-investment-property-mistakes-to-avoid/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20First%20time%20investors%20-%206%20key%20Investment%20Property%20mistakes%20to%20avoid&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffirst-time-investors-6-key-investment-property-mistakes-to-avoid%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/first-time-investors-6-key-investment-property-mistakes-to-avoid/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, budget, construction loan, interest rates, investment property, property investment, rental property --- ### [A new lender enters the commercial SMSF lending arena](https://www.oceanhomeloans.com.au/a-new-lender-enters-the-commercial-smsf-lending-arena/) **Published:** May 19, 2014 **Author:** Brad Kirwan **Content:** Specialist lender Thinktank has launched a new **SMSF** product focused on commercial lending and this product is now available to all Self Managed Superannuation Fund clients of Ocean Home Loans. Some of the key benefits of the Think Tank commercial Self Managed Superannuation Fund Lending product are: With a 75% LVR potential, it reduces the level of cash contribution required to complete a property purchase. This higher LVR can facilitate your purchasing a property at a higher value than you would have previously. With the 25 year loan term it significantly reduces the level of amortisation in comparison to other funders in the market. This reduced amortisation (effectively 4% of the loan limit per annum, on a straight line assessment) allows you to manage the Self Managed Superannuation Fund as follows: ## Aids the SMSF to rebuild its cash war chest The Super fund can rebuild its cash component for either diversification into other assets (i.e. managed funds), and reduce reliance of the Self Managed Superannuation Fund to property alone. This is a prudent activity for risk management within any Super fund. Member contributions can potentially reduce, as they may not be required to meet other lenders more constrictive amortisation schedules. The longer amortisation strategy can facilitate re-building the cash reserve in the SMSF to allow you to acquire another property asset within the Self Managed Superannuation Fund. As the lender Thinktank commits to the full 25 year loan term at outset of the facility, the client is not subject to risks/issues that may arise with property re-valuations and potential breaches of the LVR due to market factors/variables for their property portfolio. With the current low interest rate environment, market based lease payments back to the fund can see the loan paid off in 10-12 years with surplus income adding to tax effective retirement savings. In short, it allows the SMSF to “run” as it should, with cash applied to various options on the basis of either the funds member preferences and/or direction from their respective financial advisor. ***Warning:*** *The content of this page provides **General Advice** about Self Managed Superannuation Fund lending products, SMSF commercial loans, lender requirements and our service. It does not take into consideration your specific personal or financial circumstances, needs and objectives and is not a specific recommendation. We recommend that you seek independent financial advice before borrowing money to invest via your SMSF.* ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/a-new-lender-enters-the-commercial-smsf-lending-arena/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/a-new-lender-enters-the-commercial-smsf-lending-arena/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/a-new-lender-enters-the-commercial-smsf-lending-arena/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/a-new-lender-enters-the-commercial-smsf-lending-arena/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/a-new-lender-enters-the-commercial-smsf-lending-arena/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/a-new-lender-enters-the-commercial-smsf-lending-arena/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20A%20new%20lender%20enters%20the%20commercial%20SMSF%20lending%20arena&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fa-new-lender-enters-the-commercial-smsf-lending-arena%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/a-new-lender-enters-the-commercial-smsf-lending-arena/#print?share=print) - **Categories:** SMSF **Tags:** commercial property, interest only repayments, investors, self managed super fund, smsf, variable interest rates --- ### [2014 Budget speech overview - the key facts](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/) **Published:** May 16, 2014 **Author:** Brad Kirwan **Content:** The Treasurer Joe Hockey delivered his first **budget** speech on Tuesday night, containing few surprises. The measures announced include increased ‘taxes’ in the form of a temporary levy for high income earners, tighter welfare rules, and wider cuts to education and spending. Below is a summary of key announcements that you may affect you from a financial advice perspective. Please talk to your financial adviser for further details. ## Income tax changes #### Temporary Budget Repair Levy A three-year Temporary Budget Repair Levy will be introduced for high income earners from 1 July 2014 until 30 June 2017. The Temporary Repair Levy will apply at a rate of 2 per cent on taxable income in excess of $180,000 per annum. A number of other tax rates that are currently based on calculations that include the top marginal tax rate will also be increased in line with the Temporary Budget Repair Levy from 1 July 2014. An exception applies for fringe benefits tax (FBT), which will be increased from 47 per cent to 49 per cent from 1 April 2015 until 31 March 2017 to align with the FBT income year. ## Superannuation #### Excess non-concessional contributions tax changes The Government has announced changes to the treatment of excess non-concessional contributions (NCCs). Excess NCCs made from 1 July 2013 will be able to be withdrawn, along with associated earnings If an individual chooses this option, no excess contributions tax will be payable and any related earnings will be taxed at the individual’s marginal tax rate. Excess contributions tax will continue to apply for individuals who leave their excess contributions in the fund Final details of the policy will be settled following consultation #### Re-phasing of superannuation guarantee rate increase The Government announced another revision of the proposed increase to the superannuation guarantee contribution rate: Confirming an increase to 9.5 per cent from 1 July 2014 Maintaining the 9.5 per cent rate until 30 June 2018 Ultimately the 12 per cent rate will apply from 1 July 2022 ## Social security #### Age Pension The Age Pension qualifying age will progressively increase further from age 67 from 1 July 2025, until it reaches age 70. This measure will not affect people born before 1 July 1958. The deeming thresholds for the income test will be reset to $30,000 for single pensioners and $50,000 for pensioner couples from 20 September 2017. The current thresholds are $46,600 and $77,400 respectively. Income used to determine eligibility for the Commonwealth Seniors Health Card (CSHC) will be extended to include untaxed superannuation income from 1 January 2015. Account based income streams held by CSHC holders before 1 January 2015 will continue to be assessed under existing rules. #### Deeming Thresholds The deeming thresholds for the income test will be reset to $30,000 for single pensioners and $50,000 for pensioner couples from 20 September 2017. The current thresholds are $46,600 and $77,400 respectively. #### Commonwealth Seniors Health Card The Seniors Supplement will be removed for CSHC holders from 20 September 2014. The Government has confirmed it will proceed with a new Paid Parental Leave scheme that will provide six months of paid leave, including superannuation, from 1 July 2015. However, the payment threshold is proposed to be reduced from $150,000 per annum to $100,000 per annum. The Family Tax Benefit (FTB) Part B primary earner income limit will be reduced from $150,000 to $100,000 from 1 July 2015. ## Family Assistance #### Paid Parental Leave The Government has confirmed it will proceed with a new Paid Parental Leave scheme that will provide six months of paid leave, including superannuation, from 1 July 2015. However, the payment threshold is proposed to be reduced from $150,000 per annum to $100,000 per annum. #### Family Tax Benefit The Family Tax Benefit (FTB) Part B primary earner income limit will be reduced from $150,000 to $100,000 from 1 July 2015. Payment of FTB Part B will be limited to families whose youngest child is under age six from 1 July 2015. Transitional arrangements will ensure families whose youngest child is age six and over on 30 June 2015 will remain eligible for FTB Part B for two years. ## Post Budget economic outlook The 2014-15 Budget is set against an economic outlook that is characterised by the Australian economy’s transformation as it moves from growth led by investment in resources projects to broader-based rivers of activity in the non-resources sectors. This is occurring at a time when the economy has been growing below its trend rate and the unemployment rate has been rising. Overall, the Australian economy is forecast to grow only slightly below trend with the household sector expected to continue to respond to historically low interest rates and wage flexibility supporting employment growth. It is acknowledged that the fall in the A$ over 2013 is also assisting the economy’s transformation, but further falls would help support more rapid rebalancing of the domestic economy. Importantly, nominal GDP growth is expected to remain well below its 20-year average over the forecast period, largely reflecting further declines in terms of trade and subdued domestic price growth. Nominal GDP is forecast to grow by 3 per cent in 2014-15 and by 4.75 percent in 2015-16. While the government’s 2014-15 Budget strategy, which revolves around a far-reaching program of fiscal consolidation will likely support business confidence, it is expected to have a negative impact on households. That said, the government is clearly placing its faith in a more incentivised business community to generate employment and to underpin domestic demand. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%202014%20Budget%20speech%20overview%20-%20the%20key%20facts&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F2014-budget-overview-the-key-facts%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/#print?share=print) - **Categories:** Investing **Tags:** budget --- ### [Winter 2014 Home Loan & Mortgage Market Update](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/) **Published:** May 21, 2014 **Author:** Brad Kirwan **Content:** Australians’ appetite for mortgages shows no sign of abating, with the Veda Quarterly Consumer Credit Demand Index revealing a 10.8 per cent on-year increase in applications for home loans in the March quarter. NSW led the way in terms of demand for new mortgages in the March quarter, with a massive 19 per cent growth year on year. Tasmania followed (with 13.9 per cent), while Queensland (10.5 per cent) and Victoria (10.4 per cent) also showed double-digit growth. Not surprisingly, property values have continued to increase in recent months across the country, with dwelling values rising by 3.5 per cent since the beginning of 2014, according to the RP Data-Rismark Home Value Index for the March quarter. Sydney property values are now almost 16 per cent higher than their previous peak. All capitals except Perth recorded a rise in values during the past three months, with Melbourne up 5.4 per cent, Hobart up 4.7 per cent and Sydney up 4.4 per cent. Values have risen by 15.8 per cent since June 2012 – and by 12.9 per cent since June 2013. RP Data research director Tim Lawless said half of Australia’s capital cities now showed record dwelling values. Sydney is 15.8 per cent higher than the previous peak, Melbourne is up 4.7 per cent, Perth is up 2.9 per cent and Canberra is up 1.2 per cent. “Over the long term, I don’t believe such a strong pace of growth can be sustained. We expect housing market conditions to cool down as the year progresses,” Mr Lawless said. The boom in dwelling values hasn’t as yet undermined housing affordability, according to the most recent Housing Affordability Index. Produced by the Housing Industry Association (HIA) and Commonwealth Bank, it recorded a fall of 0.5 per cent from the September 2013 quarter to the December 2013 quarter. HIA chief economist Harley Dale said the improvement had been driven by low interest rates. “Those in the housing market — or who have been on its cusp and then entered in recent years — have experienced a considerable improvement in affordability,” he said. ## Mortgage rates remain steady Rates remained on hold again in April, marking the seventh consecutive meeting where the board has kept rates steady at 2.5 per cent, keeping mortgage rates at all time lows. LJ Hooker deputy chairman L Janusz Hooker said the Reserve Banks of Australia’s decision to leave rates on hold is good news for the property market. “From all indications, we are anticipating a very busy Easter and a strong market heading into winter,” he said. With a positive **mortgage** market outlook for the remainder of 2014 and with most experts predicting rates will remain stable for the remainder of this year, now could be the best time to enter the housing market or review your existing mortgage commitments. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Winter%202014%20Home%20Loan%20%26%20Mortgage%20Market%20Update&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwinter-2014-home-loan-mortgage-market-update%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, interest rates, market, mortgage, variable interest rates --- ### [The Federal Budget - what it means for you](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/) **Published:** May 23, 2014 **Author:** Brad Kirwan **Content:** On Tuesday 13 May, Joe Hockey announced the new Coalition Government’s first **Budget**; Stating that their aim is to reduce the federal deficit. If all their proposals pass both Houses of Parliament, the deficit will fall from its current $49.9 billion to $29.8 billion next year. It will then fall to a deficit of $2.8 billion in 2017-18. ## A brief overview Introduction of a Budget ‘Deficit Levy’ of **2%** on people with income over $180,000pa, raising the top marginal tax rate from 45% to 47%. They have stated that this is a temporary levy over three years and will commence 1 July 2014. From 1 July 2015 there will be a $7 charge for each currently bulk-billed service. This will be capped at 10 services per calendar year for concessional patients and children under 16. Company tax rate will fall by 1.5% from 1 July 2015. As of 1 July 2035, qualification for the Age Pension will rise to 70 years. This will be phased in from 1 July 2025. People born before 1 July 1958 will not be affected by this measure. Superannuation will increase from 9.25% to 9.50% as of 1 July 2014. As of 30 June 2018 it will continue to increase by 0.50% each year until 2022/23, when it is due to reach 12%. ## Budget decisions that affect the property market An increase of $11.6 billion in funding for new infrastructure projects will open up access to development of new dwellings. There is no change to negative gearing. The CGT tax-free status for owner-occupier homes remained untouched. Despite rumours leading up to Treasurer Joe Hockey’s announcement, the family home was excluded in pension means testing. Experts say that the austerity measures announced will keep interest rates low. ## Conclusion Although there are some measures in the Budget that will remain unpopular with the electorate, the overall assessment is that the property market should remain buoyant despite the cuts. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20Federal%20Budget%20-%20what%20it%20means%20for%20you&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-federal-budget-what-it-means-for-you%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/#print?share=print) - **Categories:** Mortgage **Tags:** budget, interest rates, negative gearing, property investors --- ### [All eyes on the state of the property market in Australian capital cities](https://www.oceanhomeloans.com.au/all-eyes-on-the-state-of-the-property-market-in-australian-capital-cities/) **Published:** May 28, 2014 **Author:** Brad Kirwan **Content:** According to the Australian Bureau of Statistics (ABS), our capital cities are filling up fast. In real estate terms, that means that demand for **property** – both to buy and to rent – is increasing in Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart, Canberra and Darwin. Last year, Perth, Darwin, Melbourne and Brisbane were the biggest movers. Sydney, as usual, was a powerhouse. However if current trends continue, Melbourne is set to overtake the Emerald city to be Australia’s biggest city by 2053. The Asian market in particular has their eyes firmly set on real estate in capital cities. According to Credit Suisse, their appetite for capital city real estate is expected to hit $44 billion in the years ahead. (For more information, read the article in this newsletter, ‘The Rise and Rise of the Foreign Investor’). ## Rise in dwelling approvals These new residents need a place to live – and so, more property needs to be developed. Fortunately, dwelling approvals have risen in all capital cities – figures show a nationwide surge in dwelling approvals across most states, up 20 per cent on the same time last year. But, demand is still exceeding supply. ## What does this mean for you? If you’re looking to invest in real estate, there’s never been a better time. Interest rates are at an all-time low, prices stabilise over the winter months and demand for property in capital cities will continue to grow. It is estimated that 73 % of Australians will live in capital cities by 2053 and, in simple supply and demand terms, this means the housing market in capital cities will continue to boom. And so, investing in a capital city property – even if it’s not your own city – should be considered as a long-term investment strategy. ## Which city to invest in property? There’s a lot to consider – the average house prices, population growth and economic status of each of the capital cities need to be taken into consideration. Sydney is still the most expensive city to purchase in, where median house prices are $793,000. Hobart is the most affordable, with a median house value of $139,053. However, vacancy rates in Sydney are extremely low, meaning that an investment property – particularly in a popular area – will always be in demand. ## The bottom line – get professional advice With markets changing on a daily basis, the best strategy would be to seek professional advice when you’re ready to invest. Based on the amount you have to invest and your goals, they will outline the choices and help you decide which one is right for you. Investing in property is an important step. So if you don’t know the market, turn to someone trustworthy who does. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/all-eyes-on-the-state-of-the-property-market-in-australian-capital-cities/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/all-eyes-on-the-state-of-the-property-market-in-australian-capital-cities/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/all-eyes-on-the-state-of-the-property-market-in-australian-capital-cities/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/all-eyes-on-the-state-of-the-property-market-in-australian-capital-cities/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/all-eyes-on-the-state-of-the-property-market-in-australian-capital-cities/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/all-eyes-on-the-state-of-the-property-market-in-australian-capital-cities/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20All%20eyes%20on%20the%20state%20of%20the%20property%20market%20in%20Australian%20capital%20cities&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fall-eyes-on-the-state-of-the-property-market-in-australian-capital-cities%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/all-eyes-on-the-state-of-the-property-market-in-australian-capital-cities/#print?share=print) - **Categories:** Property **Tags:** borrowing capacity, budget, investment property, property, property investing, property investors --- ### [Buying at Auction for First Time Buyers](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/) **Published:** May 26, 2014 **Author:** Brad Kirwan **Content:** With a cool head and a firm plan **first time buyers** can make sure they don’t get swept away in the excitement of an auction. Auctions can be daunting for novices, but they can also be an effective way to snag an investment at a fair price. Once you have identified a property worth bidding on, it’s important to remember the sales contract is unconditional. Reviewing the contract, along with any building and pest inspections, needs to be conducted before the auction, and buyers must obtain the seller’s agreement to any contract variations in writing ahead of the auction day because it can’t be changed afterwards. When you’ve found a property you’d like to buy, you need to set a price limit before you arrive at the auction – and if you are concerned your heart might overrule your head, you may want to consider giving authorisation to a friend or agent to bid on your behalf. Various states and territories have different rules when it comes to registering to bid at auctions, so it is important to ask the real estate agent about the process in your state, if you intend to bid. First-time auction bidders need to be aware of the threat of under quoting. This is a tactic whereby some agents post an unrealistically low price in their advertisements to lure more buyers to the auction – don’t get swept up in Adrenalin-charged bidding. ## First Time Buyers need a clear strategy for buying at auction One common tactic first time buyers can use is to bid aggressively up to your ceiling to intimidate other bidders. For example, you could try to start the bidding within $20,000 or $30,000 of the perceived fair value to cut down on the length of the auction. Make sure you also keep an eye out for unethical practices at auctions. Dummy bidding has become less common, with Fair Trading authorities cracking down over the past few years, but some agents may still plant people in the crowd. These fake bidders drive up the price with no intention of purchasing the property. Auctions can be intimidating environments for first time buyers. However, if you plan ahead and set boundaries you should have nothing to fear on auction day. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Buying%20at%20Auction%20for%20First%20Time%20Buyers&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fbuying-at-auction-for-first-time-buyers%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/#print?share=print) - **Categories:** Property **Tags:** first home buyers, first time buyers, home loan, investment property, property investors --- ### [Investment Property Hot Spots - What to look for](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/) **Published:** June 2, 2014 **Author:** Brad Kirwan **Content:** The ‘Next Property Hot Spot’ is a very overused term these days when discussing the next area of capital growth, whilst forecasts vary in terms of **investment property** returns, there are usually some pretty clear-cut structures that govern current price and potential price growth. Here are five key elements that go a long way in determining what areas are ‘hot’ or about to become ‘hot’. ## Supply and demand It’s all about supply and demand – the two basic premises of economics. Lower supply, or restrict it, and demand increases, you’re on your way to success. When you’re undertaking your research on an area it makes sense to look at how these two components work in conjunction with each other and make sure you are looking at possible injections of supply, new land releases, or downturns in demand or desirability. There are many different combinations that can ensure these two elements do, or do not, work positively together and it is your job as an investor to explore them. Though it is worth noting, supply of apartments may not necessarily affect houses – you will need to ensure that you think through the effect any new developments may have on your next purchase. ## The criticality of infrastructure Infrastructure is an absolutely critical part of any area’s growth. Transport infrastructure makes remote locations more accessible; medical infrastructure generates modern health services and long-term employment; and resources infrastructure can spread economic benefits and jobs over vast distances. Infrastructure comes in many different forms, and each has the potential to create employment, or make an area more desirable. Keeping an eye out for upcoming projects, particularly in areas you have already identified as being of interest to you, can be another boost. ## If you can’t afford it, steer clear Regardless of how many good indicators an area has, no matter how much growth it is expecting, if you are pushing yourself to the limit of your financial capacity to secure an investment property – you might just want to think again and look elsewhere, never over-stretch your borrowing capacity, look for a property a little more within reach. No area comes without risk, and it doesn’t make good financial sense to risk it all on the potential of capital gain. If you are still determined to purchase in a particular area, see if there is a lower-risk entry-level, such as a joint purchase, perhaps a smaller dwelling or a neighbouring suburb that is cheaper but may still have potential capital growth. ## Past performance is no sign of future investment property growth No matter how well an area has done in the past, or how far the prices have risen, you will need to assess it on its current and future qualities. Markets do go down and you may have already missed out. While regular upwards trending of the median property value can be encouraging – never assume that this will continue. Likewise, downwards movement can be telling you that the market has further to fall, however further research may show the reasons for any downturn. You’ll also want to be absolutely clear on what the median price is tracking before using it as any guide to a market’s capital growth movements, it might not actually be recording what you think it is. ## Employment growth is essential Lastly, employment is critical for multiple reasons. Income growth is one of the indicators that can be used to determine future capital growth. Without robust employment conditions, strong income growth is unlikely. Similarly, strong and diverse employment centres ensure a continuing flow of tenants and a steady wave of future home buyers who will bid against each other for your property. Decreases in employment, such as major companies shutting down, can have the reverse effect. Remember, if there are no jobs – no one can afford the properties. By researching these five key factors, you can be well on the way to finding that next investment property hot spot, there are no certain winners but by doing your research thoroughly and diligently you will have the greatest chance of success. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Investment%20Property%20Hot%20Spots%20-%20What%20to%20look%20for&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finvestment-property-hot-spots-what-to-look-for%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/#print?share=print) - **Categories:** Property **Tags:** borrowing capacity, investment property, investors, mortgage repayments, rental property --- ### ['Don't rock the board' - RBA keeps interest rates on hold](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/) **Published:** June 3, 2014 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia has opted for stability as it once again leaves the official cash rate on hold – **interest rates** have now remained at a record low of 2.50% for ten months. In fact, it is likely that the current low rate will remain steady according to the RBA. “A sustained increase in dwelling investment was in prospect, consumption had strengthened a little and business conditions were around average levels,” the minutes from last months Board meeting said. “Given this outlook for the economy and the significant degree of monetary stimulus already in place to support economic activity, the board considered that the current accommodative stance of policy was likely to be appropriate for some time yet.” ## Steady as she goes for interest rates The steady interest rate is beginning to have a positive impact on the economy. HSBC chief economist Paul Bloxham says, “the budget effect is most likely to wear off and the more powerful effect at work here is that interest rates remain low.” “Low interest, we think, will see the housing market continue to pick up solidly and the retail environment also remains fairly well supported.” Although the housing market has recently peaked, this is only due to the usual annual seasonal influences. Auction clearance rates are still healthy and annual growth rate remains strong, leading economists to assert that this correction is part of the natural cycle. So, even though the temperature is dropping, mortgage owners can stay warm knowing with interest rates staying low their investment is safe. And with the end of the financial year approaching, it might be time to turn that investment property you’ve been thinking about into a reality. Please feel free to contact us at any time. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20%27Don%27t%20rock%20the%20board%27%20-%20RBA%20keeps%20interest%20rates%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fdont-rock-the-board-rba-keeps-interest-rates-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** interest rates, investment property, mortgage, variable interest rates --- ### [5 tips to add value to your investment property](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/) **Published:** June 4, 2014 **Author:** Brad Kirwan **Content:** Adding value to your **investment property** does not have to break the bank. We reveal how to get a high-end makeover on a shoestring budget. ## Stick to the plan Over spending is one of the biggest dangers in renovating. A savvy investor will set an ironclad budget and see it through to the end, which some would estimate at 10 per cent of the property’s purchase price. These amounts can then be broken down room by room. As a general rule, some experts suggest spending around 1.8 per cent of the purchase price on the kitchen, 1.5 per cent on each bathroom, one per cent on floor coverings, and 1.5 per cent on interior and exterior painting. If renovators have limited funds, it may be worth staggering the work over an extended period of time. ## Use alternative sources for materials for your investment property While nipping down to the hardware store for supplies is an easy solution, investors may get better deals for their investment property by looking further afield. Renovation experts suggest sourcing suppliers online. Online importers frequently offer similar designs, including the same warranty, at more affordable prices. ## Work with what you already have Superficial touch-ups can often transform key rooms with little outlay. For example, in the kitchen the original cabinetry is usually made to last for decades and salvaging these built-ins can save owners a substantial sum of money. From a cosmetic standpoint, the bench top will make the biggest impact on the overall aesthetic of the kitchen, so a new finish can renew a tired bench top at a low cost. In the bathroom, new shower curtains or even a frameless shower screen are cheap but change the room’s entire feel. Larger mirrors can also enhance the feeling of space in the bathroom. ## Fix up the walls As well as being fairly affordable and easy to do yourself, painting can have the greatest impact on the feel and appearance of a property. A neutral, modern colour scheme is likely to appeal to a broad range of people – shades of grey are particularly popular at the moment. If you have limited money or time you could just repaint the trims, like skirting boards, doors and window frames. ## Don’t neglect the exterior The outside of the investment property is the first thing buyers and tenants see. Landscaping, trimming plants, adding mulch to garden beds and painting pavers and driveways are some simple ways to bolster the look of a property. Exterior painting can also be valuable. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20tips%20to%20add%20value%20to%20your%20investment%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-tips-to-add-value-to-your-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/#print?share=print) - **Categories:** Investing **Tags:** home improvements, home renovation, investment property, property investing, property investment, rental property --- ### [5 Quick steps to maximise your property valuation](https://www.oceanhomeloans.com.au/5-quick-steps-to-maximise-your-property-valuation/) **Published:** June 6, 2014 **Author:** Brad Kirwan **Content:** If you want to extract existing equity from your home, you will need to get a favourable **property valuation**. ## First impressions count Make sure your property is well maintained, and make small aesthetic improvements if necessary. ## Street appeal is important for a property valuation A freshly mowed lawn, free of weeds and neat hedges will improve the overall appearance of your property. ## Keep a list of all the updates It’s important to maintain records of all the changes you’ve made to the property – even small items – since the valuer may not notice them. ## Keep an eye on nearby sales Have comparable sales data ready for the valuer so you can show your expectations match nearby realities. ## Ensure the valuer is comfortable An excessively warm property, or a pet that constantly gets in the way might not impact on your property valuation, but it will affect the valuer’s mood. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-quick-steps-to-maximise-your-property-valuation/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-quick-steps-to-maximise-your-property-valuation/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-quick-steps-to-maximise-your-property-valuation/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-quick-steps-to-maximise-your-property-valuation/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-quick-steps-to-maximise-your-property-valuation/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-quick-steps-to-maximise-your-property-valuation/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20Quick%20steps%20to%20maximise%20your%20property%20valuation&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-quick-steps-to-maximise-your-property-valuation%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-quick-steps-to-maximise-your-property-valuation/#print?share=print) - **Categories:** Property **Tags:** home improvements, home renovation, property valuation, valuation --- ### [Looking for a Home Loan but don't have a big enough deposit](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/) **Published:** June 13, 2014 **Author:** Brad Kirwan **Content:** If you need a **home loan** of 80% or more of the value of the property you would like to buy, then you’ll probably need to pay what’s known as Lender’s Mortgage Insurance (LMI). Essentially, LMI protects the lender if something unfortunately came along that might cause you to default on your home loan, as this may mean the lender is forced to sell the property. And, if it happens to sell at a loss, the lender can make a claim against the mortgagee for any shortfall. ## The main advantage of Lender’s Mortgage Insurance If you simply can’t save the required 20% deposit, you will still be able to purchase the property you have your eye on, but you will also have to budget for lender’s mortgage insurance to make the deal possible. It means you can buy the property much earlier (rather than waiting until you had saved the full 20% deposit) or, if you look at it another way, you might be able to buy a better place than otherwise might have been possible. In other words, you can take advantage of a great deal while it’s still on the market. At a price. ## What costs will it add to your home loan? Before you get too excited, it’s important to realise that LMI can be quite expensive: Let’s say you were borrowing 95% on your mortgage, based on a home worth $400,000, then you will end up with a premium of $14,000 – not cheap. If you had 90%, then the premium would drop significantly, to around $ 7000, based on figures supplied by QBE LMI, one of the largest providers in Australia. So, a lot depends on exactly how much deposit you have available. GST is payable on all LMI premiums and is usually included in the quoted cost by the lender. On top of this, you will have to pay Stamp Duty, depending on local state and government rules. ## What else do you need to know? Lender’s mortgage insurance is a one-off fee and, usually, you will be able to capitalise your LMI premium by adding it into your home loan amount and then pay it off as part of your monthly repayments. You should also be aware that LMI is not transferable to another loan, so if you choose to re-finance, or re-negotiate into an alternative loan at some point, you will have to pay LMI once more if you need to borrow 80% or more of the total amount. Finally, it’s important to understand that LMI isn’t the same as mortgage protection insurance. This is required to ensure your loan repayments are still covered in the event of you not being able maintain them, due to events such as injury or job loss. ## Overall Lender’s mortgage insurance increases the number of people they are able to lend to, by decreasing some of the risk of lending the money. For buyers, it allows them to have more flexibility to obtain a home loan to buy a property before they have the 20% deposit available, a useful option to be aware of in the highly competitive property market. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Looking%20for%20a%20Home%20Loan%20but%20don%27t%20have%20a%20big%20enough%20deposit&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Flooking-for-a-home-loan-but-dont-have-a-big-enough-deposit%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, budget, home loan, mortgage repayments --- ### [6 Reasons why you should use a Mortgage Broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/) **Published:** June 16, 2014 **Author:** Brad Kirwan **Content:** More and more Australian homeowners are turning to a **mortgage broker** to help them better understand their options. With hundreds of different lenders and thousands of home loan mortgage products to choose from, finding the right home loan has never been more daunting. Finance brokers also called credit advisers are well positioned to provide the answers and help you get the right mortgage products. In fact, half of all Australian mortgages are now arranged through a broker. ## More choice Mortgage brokers have access to a large network of lenders and as a result their clients have the best choice of rates and products. With a large network of major lenders to choose from, your broker can source your ideal mortgage option from banks, credit unions, non-traditional lenders and more. ## Experts in our field Mortgage brokers are specialists providing expert advice and guidance on mortgage products, interest rates and current housing market conditions. Their knowledge is derived from selling only mortgage and mortgage related products. ## One stop shopping Shopping at several banks can be frustrating, inefficient and extremely time consuming. Your mortgage broker can show you product offerings from a large panel of lenders with just one visit. ## Preserve your credit rating Rate-shopping on your own can actually be hazardous to your credit rating. Every time a lender checks your credit, an entry is recorded on your credit file. Too many enquiries and your credit rating can weaken, possibly affecting the rate and terms of your mortgage. ## A Mortgage Broker offers personal attention Mortgage brokers are able to work one-on-one with each individual client, evaluate their specific needs and find a lender that suits them personally. You will ultimately receive a mortgage plan that is customized for you and meets your unique requirements. ## A free service The services of a mortgage broker are at no cost to you. In general, the lender pays a commission to your broker for the services and solution provided and this is always disclosed to you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20Reasons%20why%20you%20should%20use%20a%20Mortgage%20Broker&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-reasons-why-you-should-use-a-mortgage-broker%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, home loan, home loan refinance, interest rates, mortgage, mortgage broker, property --- ### [It’s Almost Tax Time! Do you have an Investment Property Loan?](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/) **Published:** June 18, 2014 **Author:** Brad Kirwan **Content:** The End of the Financial Year is almost upon us. And right now, before the 30th of June, is when you should be considering your strategies to trim your tax bill by minimising your assessable income, especially if you have an **investment property loan**. Although you should always seek advice from a professional financial services advisor or your accountant, here are a few areas that you may consider before 30 June 2014. ## Investment property loan strategies Do you own an investment property? You can claim expenses, such as body corporate fees, advertising for tenants, pest control, agent’s fees and some maintenance. Are there any repairs that need to be done… you may be able to use these as a deduction if you finish them before 30 June. Pre-pay your investment property loan, another strategy is to [prepay interest](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/ "The benefits of Interest in Advance for property investors") on an investment loan (you can do this for up to 12 months in advance). You can then claim the deductions against your income. ## Other areas to consider Your super is a long-term strategy. There isn’t a better time to look at this than pre 30 June. The most popular tax minimization option is to ‘salary sacrifice’. This is an arrangement employees have with their employer (or business owners arrange for themselves) where you can make further super payments from your pre-tax salary in lieu of take-home pay. This money is then taxed at a lower rate – 15%. For many people, this is a much lower tax rate than the tax rate on take-home pay. There are caps for the amount you can contribute so it is important to get expert advice. If you run a business on your own, there might be claimable purchases that you’re perhaps not aware of. Besides the obvious mobile phone, vehicle expenses and marketing expenses, there are often deductions that are less well known. For example, do you need a uniform? Are you a tradesman and need a dog to protect your tools… you may be able to claim for the costs involved. Make sure you’re maximising your deductions – ask your accountant for help. If you have a spouse or partner who earns a low wage (or doesn’t work at all) and also have investments, it’s possible to minimize your combined tax bill by holding some investments in their name. You can’t split wages, but you can put income from investments into your partner’s return, which should be taxed at a lower than marginal rate. Nobody likes to pay more tax than they have to. With careful planning and strategies, you should find the right balance, but those of us who have an investment property loan, there is far more to gain from a diligent approach to tax time. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20It%E2%80%99s%20Almost%20Tax%20Time%21%20Do%20you%20have%20an%20Investment%20Property%20Loan%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fits-almost-tax-time-do-you-have-an-investment-property-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/#print?share=print) - **Categories:** Investing **Tags:** home loan, investment property, investment property loan, investors, mortgage repayments, rental property --- ### [Home Loan lending terms - What is my LVR?](https://www.oceanhomeloans.com.au/home-loan-lending-terms-what-is-my-lvr/) **Published:** June 20, 2014 **Author:** Brad Kirwan **Content:** In lending terms the LVR or Loan to Value Ratio represents the relationship between the value of the property used as security for a **home loan** and the loan amount itself. When buying a residential property generally if you stay at an LVR of 80% or less you will avoid having to pay for [lenders mortgage insurance](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/ "Looking for a Home Loan but don’t have a big enough deposit") (LMI). However some lenders will waive this for higher LVRs depending on their policies. ## How to calculate your home loan LVR To calculate the LVR divide the loan amount by the value of your property. For example if you have a loan on your home of say $400,000 and the property is valued at say $650,000 your LVR will effectively be 61%. You may have saved towards the deposit on your first home, but did you know that your LVR can be the key to buying an investment property? If you enjoy an LVR low enough you may have enough equity in your home to use as a deposit on another property. In the example above, those homeowners would have access to 19% of the value of their home which they could use to invest in another property, without having to worry about LMI. That is in effect $123,500 available to use towards the deposit and costs associated with a property purchase and subsequent home loan that they did not need to accumulate first. If you would like to discuss this example and how it could relate to your situation please give us a call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/home-loan-lending-terms-what-is-my-lvr/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/home-loan-lending-terms-what-is-my-lvr/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/home-loan-lending-terms-what-is-my-lvr/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/home-loan-lending-terms-what-is-my-lvr/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/home-loan-lending-terms-what-is-my-lvr/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/home-loan-lending-terms-what-is-my-lvr/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Home%20Loan%20lending%20terms%20-%20What%20is%20my%20LVR%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhome-loan-lending-terms-what-is-my-lvr%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/home-loan-lending-terms-what-is-my-lvr/#print?share=print) - **Categories:** Mortgage **Tags:** equity, home loan, investment property, investors, mortgage --- ### [5 Reasons to get a Home Loan Refinance](https://www.oceanhomeloans.com.au/5-reasons-to-get-a-home-loan-refinance/) **Published:** June 23, 2014 **Author:** Brad Kirwan **Content:** A home loan refinance could save you money, by lowering your repayments or consolidating those high interest rate debts, leaving you with extra money in your wallet each month. With a wide range of lenders and loans to choose from, there is every chance you may be able to secure a better deal with another lender. If you think you’re paying too much, contact your Mortgage Broker, who can work through hundreds of different loan products and help you obtain a lower rate and lower fees. ## Here are 5 reasons why you might want a home loan refinance #### Consolidating Debt Moving those high interest debts like a credit cards, personal loans and store cards into one low rate loan via your mortgage. It means you have just one set of paperwork to manage, one loan to pay and it can also offer big savings by reducing your monthly payments in total. #### Switch to a fixed rate With home loan interest rates at historical lows, now my be the time to lock in a fixed rate, if you’d prefer the certainty that your repayments will stay the same for a period of time, switching to a fixed rate could save you thousand were interest rates to rise. #### Looking for specific features When you first took out your mortgage some features may not have been available or came at a cost, such as a simple redraw facility, many [Basic Home Loans ](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans – What Makes it Basic?")don’t offer redraw or allow an [offset account](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "Offset Account Home Loans – Pay Your Loan Off Sooner") to be established. Refinancing to obtain these features could save many and possibly reduce your loan term. #### Renovating to add value One of the most common reasons for a home loan refinance is to access the equity that has built up over time for renovations or additions to property, this can make it possible to upgrade your home and add value if you decide to sell. #### Getting a better deal The most popular reason mortgage holders choose a **home loan refinance** is to obtain a lower interest rate and reduce their monthly repayments. With interest rates at historical lows and lenders fighting for you home loan business, there has never been a better time to review your home loan to see if there is a better rate available. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-reasons-to-get-a-home-loan-refinance/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-reasons-to-get-a-home-loan-refinance/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-reasons-to-get-a-home-loan-refinance/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-reasons-to-get-a-home-loan-refinance/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-reasons-to-get-a-home-loan-refinance/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-reasons-to-get-a-home-loan-refinance/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20Reasons%20to%20get%20a%20Home%20Loan%20Refinance&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-reasons-to-get-a-home-loan-refinance%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-reasons-to-get-a-home-loan-refinance/#print?share=print) - **Categories:** Refinance **Tags:** fixed interest rates, home improvements, home loan refinance, interest rates, mortgage offset loan, mortgage repayments --- ### [Foreign buyers snapping up investment property - what does it mean?](https://www.oceanhomeloans.com.au/foreign-buyers-snapping-up-investment-property-what-does-it-mean/) **Published:** June 25, 2014 **Author:** Brad Kirwan **Content:** The number of overseas buyers, particularly the Chinese market, is growing in the Australian **investment property** market. In fact, Australia is now second only to the USA in terms of popularity among Chinese people looking to buy homes overseas. Indeed, the pace even looks like hotting up even further and the number of Asian investors is predicted to worth around $44 billion in the next few years (up from $24 million over the last seven years). Credit Suisse equities strategist, Hans Tevfik explains, “A lack of momentum in Chinese property means that the Australian housing market is likely to become even more attractive in the short term.” ## Australian investment property prices are rising A number of economic data forecasts indicate that the Chinese home market has been sliding downwards for some time while Australian investment property prices continue to escalate, albeit not as quickly in recent times. Even so, low interest rates ensure demand is still ahead of supply as the flood of eager buyers from Asia continues unabated. How will that affect Sydney residents? Hans continues, “Residents in Sydney and Melbourne are understanding that the rules of property prices are changing and should expect even more demand for local real estate from Chinese investors as they look for a stable store of wealth. Globally desirable cities, like the major ones in Australia will always be destinations for foreign capital.” ## The Chinese like to buy, not borrow According to Florence Chong, writing in The Australian, for the Chinese there’s more to this enthusiasm for buying property than wealth creation: “Historically, Chinese people like to own property. There is a cultural attitude to owning your own, not borrowing or leasing it.” She surmises that they aren’t following a trend – “it’s a tradition.” ## Still a safe place to invest Whatever the reasons, there is no doubt that the long-term growth of the Australian property market looks buoyant and will continue to be attractive to buyers both at home and overseas. Regardless of the economic predictions espoused by politicians, an Aussie investment property, especially in one of the capital cities, still looks a sound place to put your money. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/foreign-buyers-snapping-up-investment-property-what-does-it-mean/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/foreign-buyers-snapping-up-investment-property-what-does-it-mean/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/foreign-buyers-snapping-up-investment-property-what-does-it-mean/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/foreign-buyers-snapping-up-investment-property-what-does-it-mean/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/foreign-buyers-snapping-up-investment-property-what-does-it-mean/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/foreign-buyers-snapping-up-investment-property-what-does-it-mean/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Foreign%20buyers%20snapping%20up%20investment%20property%20-%20what%20does%20it%20mean%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fforeign-buyers-snapping-up-investment-property-what-does-it-mean%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/foreign-buyers-snapping-up-investment-property-what-does-it-mean/#print?share=print) - **Categories:** Property **Tags:** investment property, investors, property investing, property investment --- ### [10 Questions to ask your Estate Agent when selling an Investment Property](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/) **Published:** June 27, 2014 **Author:** Brad Kirwan **Content:** Once you have decided to sell your **investment property**, it is essential that you really do your homework thoroughly before you decide who to appoint as your agent. Don’t choose an agent on the promise of a high price. And never tell them what figure you have in mind – many will respond by just agreeing with you or suggest an unrealistic sum, in the hope of attracting your business. Don’t be afraid to ask plenty of questions, the best agents will give you a detailed response. ## Questions to ask when selling an investment property 1. How much experience do you have as an estate agent? 2. How well do you know my local area? 3. How successful have you been selling properties nearby? 4. Can I see a list of your sales and the prices realised? 5. Would you recommend an auction or not? Ask them to explain why. 6. What commission do you charge? 7. How much do you think my property is worth and is this a realistic figure? 8. What marketing services do you recommend? 9. How much will the marketing cost? 10. Do you have a list of potential buyers? Do your research, find out which agents have a good understanding and experience in selling investment property, also they must know the local area. Then, draw up a shortlist of at least three agents and arrange to meet them. Make sure you choose someone who you like and can communicate well with, and who you feel will genuinely work in your best interests. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%2010%20Questions%20to%20ask%20your%20Estate%20Agent%20when%20selling%20an%20Investment%20Property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F10-questions-to-ask-your-estate-agent-when-selling-an-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/#print?share=print) - **Categories:** Property **Tags:** investment property, investors, property investing, property investment, rental property --- ### [Thinking of buying an investment property as a holiday home?](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/) **Published:** June 30, 2014 **Author:** Brad Kirwan **Content:** At one time or another, we’ve all had dreams of purchasing an **investment property** as a holiday home, with a desire to improve our lifestyle while making a good financial return. Sounds wonderful, but it’s essential to not let your heart rule your head. Just like any investment, it’s important to weigh up all the pros and cons first. ## Location Location Location Think carefully about a destination that has shown consistent growth over the last 10 years and isn’t too seasonal. Generally, trends throughout Australia suggest that easy access to major cities is important, with the promise of higher returns and higher capital growth. Also, make sure that attractions such as cafes, restaurants, shopping, beaches or great views aren’t too far away. ## Managing and Marketing Your Investment Property Assuming you are looking for maximum occupancy, you will need to ensure that your holiday property compares well with other holiday homes in your area. You’ll need to decide whether to manage the investment property yourself or find someone to take care of it on your behalf. The latter is what most busy people who don’t live near their holiday home do, but you’ll need to do your homework carefully and find an agent that has proven credentials. The managing agent can take care of everything, from advertising the property, taking bookings, organizing, cleaning and re-stocking as well as general maintenance, to ensure your home is always guest-friendly. ## The Taxing Question When you purchase a holiday home and rent it out, your income must be declared on your tax return, even when you offer ‘mates rates’ to friends or family. If you stay at the property part time and lease it the rest of the year, you’ll have to persuade the Tax office that it’s a genuine investment. However, you may be able to claim deductions and interest expenses when it’s been rented out, so you need to keep comprehensive records of all transactions. Bear in mind that capital gains tax may apply if you decide to sell or transfer the property into another person’s name – but remember, always seek the advice of your accountant before making any financial decision. ## Decision Time. Finally, you’ll have to decide whether you envision a holiday home purely as a financial opportunity, or as a way to enjoy an improved lifestyle, with the bonus of making modest investment property returns. Naturally, we’d be happy to help you answer any questions you may have on this issue. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Thinking%20of%20buying%20an%20investment%20property%20as%20a%20holiday%20home%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthinking-of-buying-an-investment-property-as-a-holiday-home%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/#print?share=print) - **Categories:** Property **Tags:** investment property, investors, property investing, property investment, rental property --- ### [Interest Rates - The Longest Hold in more than 20 years](https://www.oceanhomeloans.com.au/interest-rates-the-longest-hold-in-more-than-20-years/) **Published:** July 1, 2014 **Author:** Brad Kirwan **Content:** Predictions rang true again this month when it came to baseline lending, with the Reserve Bank of Australia voting to keep official cash **interest rates** steady at 2.50%, the longest rate hold since 1990. While there was widespread concern over what impact the unveiling of the May federal budget would have on the economy, consumer sentiment has not continued to decline over the past month. In fact, the Bank for International Settlements says Australia’s major banks are the most profitable in the developed world. Stephen Munchenberg, Chief Executive of the Australian Bankers’ Association, says the profitability of Australia’s Big 4 shows the relatively good position of the Australian economy. “We’ve got stronger economic growth and we’ve got lower unemployment than a lot of countries,” he said. *The Australian* recently reported that our economy is now growing more quickly than the US, UK, or New Zealand on an annualised basis. ## Construction boom based on low interest rates Construction played a big part in first quarter economic growth caused by a boom in home building brought about by the sustained low interest rates. House prices in Sydney and Melbourne made a record comeback in the months of June, with particularly high levels of auction activity for the winter months. House prices in Brisbane and WA also increased during June. If you’ve been thinking about downsizing, upsizing or investing, perhaps now with interest rates at historic lows, is the time to look at your options. As always, we’re here to share our expertise with you, so give us an obligation-free call. Until next month, ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-the-longest-hold-in-more-than-20-years/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-the-longest-hold-in-more-than-20-years/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-the-longest-hold-in-more-than-20-years/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-the-longest-hold-in-more-than-20-years/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-the-longest-hold-in-more-than-20-years/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-the-longest-hold-in-more-than-20-years/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20Rates%20-%20The%20Longest%20Hold%20in%20more%20than%2020%20years&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-the-longest-hold-in-more-than-20-years%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-the-longest-hold-in-more-than-20-years/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, construction, interest rates, investors, variable interest rates --- ### [Home Renovations - Do your homework first](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/) **Published:** July 2, 2014 **Author:** Brad Kirwan **Content:** Australians are not only avid homebuyers, but also renovation fanatics. Unfortunately, we’re not all experts at **home renovations** – many people end up over their head before they’ve even begun. Here, we shed some light on a few common pitfalls associated with renovating. ## Do your homework If you take the necessary precautions to ensure that all your finances are in order, you are less likely to go over budget. Budget problems are far more likely when renovation plans are ill-prepared: you don’t want to get to the point where your savings are being eaten into and you’ve already redrawn all three credit cards by the time the first bathroom has been renovated. Be aware of your mortgage contract – you may need to inform your mortgagee of any dramatic home renovations you wish to have done to the house before you can even start. Don’t risk having your mortgage contract breached. ## Research, research, research. We can’t stress enough that you do your homework. If you are looking to purchase a home for purposes of investment via renovations, check how long the property has been on the market. Most properties that have been sitting on the market for more than a few months are likely still there because there is not much profit to be made. Location usually plays a part here, so perhaps reassess your choice of area. ## Home renovations for Investment properties Many of you may be considering buying an investment property, renovating it to add value, and then selling it off for a profit. While this is a great investment plan, a common pitfall to avoid is buying a place that requires an impractical amount of extensive renovation. These places are referred to as ‘moneypits’ – your budget may be burnt out by the time half the renovations are complete. This however, is easily avoided by employing an expert. Don’t just get one quote – get three. It will pay off to know what you’re letting yourself in for. If you have any questions regarding home renovations, please don’t hesitate to contact us. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Home%20Renovations%20-%20Do%20your%20homework%20first&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhome-renovations-do-your-homework-first%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/#print?share=print) - **Categories:** Property **Tags:** budget, home improvements, home renovation, home renovations, property investment, rental property --- ### [RBA Interest Rates remain at 1.5%pa](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/) **Published:** July 3, 2018 **Author:** Brad Kirwan **Content:** Another first Tuesday of the month, no change – the RBA has announced official **interest rates** remain at 1.5%pa. Still in the middle of the longest inaction in the history of the RBA, experts believe the bank will hold steady at least into 2019. However, one previous bank board member has stated the case for raising the official interest rate sooner rather than later. That’s because interest rates around the world are beginning to creep up, with the US influencing this, thanks to a number of rate hikes expected this year. While no one can accurately predict what the board will do month-to-month, at some stage, rates will go up. On top of that, several Australian lenders have indicated they will be increasing variable mortgage interest rates. So, knowing this begs several questions: do you have a portion of your mortgage fixed? If so, is it set to expire soon? If not, is fixing a portion of your home loan right for your circumstances? ## Fixed or Variable Interest Rates? The benefit of a variable loan is obvious; when interest rates are low, your repayments are lower. When interest rates eventually begin to rise, your monthly repayments on the portion of your loan that is fixed stays firm, while the variable portion of your loan increases with each raise. This offers you certainty, which can help you plan your finances in other areas. The cons? A fixed rate will be higher than a variable rate. You may face high exit fees if you make changes to your loan or make extra repayments during the fixed rate period. This is why experts say you should not [fix more than 50% of your mortgage](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/) – the flexibility that remains in the variable portion of your loan gives you more options. So, is fixing a portion of your loan right for you? Give us a call, we can go through your loan and your circumstances to ensure you’re getting the most from your mortgage. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20Interest%20Rates%20remain%20at%201.5%25pa&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-interest-rates-remain-at-1-5pa%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/#print?share=print) - **Categories:** Interest Rates **Tags:** fixed interest rates, home loan, interest rates, split loans --- ### [A mortgage broker will help you find the mortgage that suits you best](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/) **Published:** July 7, 2014 **Author:** Brad Kirwan **Content:**  With so many loan products available you can be sure that your **mortgage broker** will be able to find the one that matches your situation. By using a broker to match a suitable mortgage to your needs may save you thousands in interest payments over the life of your loan. In your hunt to track down a suitable mortgage, here are a few points to keep in mind. ## How much should I borrow? Banks will determine how much they are willing to lend you based on a number of criteria; however, that doesn’t mean you should take the maximum amount they offer. Your mortgage broker will closely examine your finances to determine what you can afford to spend. Be honest and work out a realistic budget, factoring in all regular commitments, such as school fees, car payments, and food, as well as all those entertainment expenses. What’s left can be channeled into any mortgage repayments. ## What type of buyer are you? Your personal situation will determine what mortgage suits your needs, as well as what type of products are actually available to you. Are you a first time buyer, for instance, or are you refinancing an existing debt? Perhaps you’re looking for solid capital growth in an investment property or the home you’ll spend the rest of your life in? It’s important to consider why you’re buying and finding a mortgage that complements that. ## Speak with your mortgage broker They’re in a great position to help you compare different loans and lenders to see how they suit your circumstances. Decide what loan features you require to meet your objectives – for example are you looking for flexibility to pay off your mortgage quickly? – and then go in search for a suitable deal. Some of the most common loans that may meet your requirements include: - Fixed rate – can help soften impact of any future rate rise - Split rate – offers the security of fixed rate with the flexibility of a variable rate - Line of credit – good for financing renovations or additional property investments - Lo-doc – for the self employed, usually require less documentation, such as establishing proof of income - No deposit – can’t save for a 20% deposit? This loan will let you finance 100% of the purchasing price, although usually with a family guarantor - Interest-only – popular for investors who don’t want to pay the principle component of a mortgage. Usually lower repayments amounts, leaving room to pursue other investments - Construction – for additions or building your own home There are a range of tools now available, such as the internet, to help research, compare and contract loans. For many borrowers, however, lending advice from a mortgage broker is the easiest and usually most effective option for avoiding confusion and finding an appropriate loan for your needs. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20A%20mortgage%20broker%20will%20help%20you%20find%20the%20mortgage%20that%20suits%20you%20best&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fa-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, construction loan, first home buyers, home loan refinance, interest rates, investment property, low doc mortgage, mortgage broker, mortgage offset loan --- ### [Splitting your home loan choices](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/) **Published:** July 4, 2014 **Author:** Brad Kirwan **Content:** The RBA’s decision to leave interest rates steady at 2.50 per cent p.a. was fantastic news for investors and **home loan** borrowers alike; better yet are the predictions of a stable interest rate environment for the remainder of the year. So what options are available when it comes to choosing or refinancing your mortgage? Homeowners have had a steady ride lately and with the last interest rate change in August 2013. With this sustained period of stability brings the opportunity to reboot your home loan’s saving potential where rates are concerned. Steady interest rates create the perfect environment to test the features and flexibility of your mortgage. Options, such as splitting your rate, can really make a difference to the overall amount you payback. Split loans – also called [combination rate loans](https://www.oceanhomeloans.com.au/product-focus-combination-or-split-loan/ "Product Focus – Combination Loans or Split Loans") – combine the advantages of variable and fixed interest rates into a single loan. The key to split loans is flexibility – you can decide what portion of the loan is fixed or variable to suit your needs and current market conditions. Just remember that the fixed proportion of the loan will be locked in for a set time frame – usually one to five years – and there may be break costs if the loan is repaid early. With steady interest rates for the foreseeable future, now could be the time to make your move and select a higher variable rate component on your mortgage: for example: 65 per cent variable, 35 per cent fixed. Most banks and lending institutions offer fixed and variable rate loan packages – so call your mortgage broker to discuss ways to maximise the different loan features. ## Key home loan considerations: Why select a split product? Split loans are versatile and can be used for investment and owner-occupied property purposes. Through splitting your loan you get the best of both worlds – the security of a fixed interest rate coupled with the flexibility of a variable rate loan. Take advantage of variable rates. Higher variable rate loans are suitable for times of economic certainty and unchanged interest rates. This gives you the opportunity to make additional payments to your variable rate home loan to suit your needs.The goal? Paying off your overall loan faster! ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Splitting%20your%20home%20loan%20choices&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsplitting-your-home-loan-choices%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, budget, home loan, home loan refinance, investment property, property investors --- ### [Look after your investment property and so will your tenants](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/) **Published:** July 9, 2014 **Author:** Brad Kirwan **Content:** As the owner of an **investment property** it can be more than a little worrying knowing that the potential value of your property can come down to the way it’s treated by your tenants. If you want to protect your investment, getting the right tenants is an obvious place to start. But the following proactive actions could safeguard your property’s long-term rental returns without costing big dollars. You should always choose a representative, having a professional property manager between you and your tenants is an effective approach with an investment property. Choose an agent who’s enthusiastic about keeping a good relationship with your tenants, and proactive in your property’s care and maintenance. Know your rights and responsibilities, although your agent can guide and instruct you, it’s essentially your duty to know what your rights and obligations are to your tenants – so read up on state guidelines to make sure you aren’t caught unawares. Insurance is a must but unfortunately many property owners in Australia are significantly under insured when it comes to their home and contents. You need to make sure that your investment has the right cover to protect you and your tenants and to safeguard against any scenario, such as fire, flood or burglary. Be transparent, putting everything in writing is the best way to avoid complications in a contract situation. Keep a copy of all contracts signed by your tenants as well as documenting any requests, reports or requirements noted by your agent – a paper trail can be a great incentive for your tenants to keep the property in good repair. It’s also a good idea to increase rent costs annually by a sensible margin, and this should be outlined in your initial contract. If your tenants expect a rise in costs each year there’s less chance of complications when the time comes to ask for it. ## Looking after your investment property Always present a neat, safe and clean property to prospective tenants, if you don’t look after your property, your tenants won’t see a need to either. Providing a clean and secure residence will encourage your renters to maintain the property’s aesthetic looks and therefore its value. Spending a little to make sure that you have the right locks, smoke detectors and security screens can save you a lot in the long run. You could also consider hiring a gardener to keep the outside tidy, and you should always make sure that repairs are made straight away to avoid excess damage and unhappy tenants. Respect your tenants privacy, it might be your investment property, but while your tenants are living there it is their home. Your agent should conduct regular inspections, but give plenty of notice before they arrive. By following this simple but effective approach to being a landlord will help to ensure that your investment property maintains its value. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Look%20after%20your%20investment%20property%20and%20so%20will%20your%20tenants&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Flook-after-your-investment-property-and-so-will-your-tenants%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/#print?share=print) - **Categories:** Property **Tags:** home improvements, investment property, property investors, rental property --- ### [First Home Buyers - Get Smart - Get Approved!](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/) **Published:** July 11, 2014 **Author:** Brad Kirwan **Content:** With an ever increasingly tight home loan market, **first home buyers** are finding it harder to get out of the rental trap, but all is not lost, you just need to get smarter. With the price of the average home soaring, lenders tightening their borrowing criteria and spiralling rentals cutting into post tax dollars most would-be first home buyers feel like the odds are stacked against them when it comes to purchasing a home. But despite some obstacles, buying your first home is still possible, all it takes is a little time, mortgage know-how and the commitment to managing your finances. ## Budget First up, get to grips with your monthly incomings and outgoings – if you can develop and [stick to a budget](https://www.oceanhomeloans.com.au/saving-for-a-home-loan-its-all-in-the-budgeting/ "Saving for a Home Loan – it’s all in the Budgeting") you’ll be best placed for factoring a home loan into your life. Consider if, and where you need to cut back to cater for mortgage repayments, and consider what impact this may have on your lifestyle. ## Save Aside from a deposit, home buyers are faced with a string of costs including legal, government fees and moving bills – just to name a few. Start a dedicated savings fund early so when it comes to application time you will be able to demonstrate that you have sufficient finances to settle. ## Get educated Knowledge is power, so the more you know the [type of loan](https://www.oceanhomeloans.com.au/choosing-the-right-mortgage-for-you/ "Choosing the Right Home Loans") you need, the better equipped you’ll be to find the product for your situation. Consider how quickly you want to repay your mortgage, and whether you’d like to fix your interest rate or would like some flexibility. While information is easily available on the internet, your mortgage broker is best positioned to answer any questions you may have. ## First home buyers need a pre-approval Having a [pre-approved](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/ "Getting your Finances ready – A Home Loan Pre Approval") home loan enables you to realistically look for a property in your price range. It also gives you power to bid for a house or put in an offer as soon as you see it – rather than risk missing out on it should you delay. ## Get a good team Having a [mortgage broker](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/ "Have you Selected your Investment Property Dream Team") on hand is essential for finding the most appropriate mortgage for you. Your broker has access to most of the leading loans and can easily track down the products that suit your circumstances – especially if affordability is an issue. It’s also important to seek sound legal advise, an understanding of the government grants and incentives that are available for first home buyers as well as a feel for where interest rates are heading. With the aid of a mortgage broker backed by other relevant professionals you’ll be much better placed to make your first home buying experience a positive one. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20First%20Home%20Buyers%20-%20Get%20Smart%20-%20Get%20Approved%21&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffirst-home-buyers-get-smart-get-approved%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, budget, first home buyers, first home owner grant, home loans, mortgage broker --- ### [Rental Return or Capital Growth - What is your Investment Property Strategy](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/) **Published:** July 14, 2014 **Author:** Brad Kirwan **Content:** Investing in real estate via an **investment property** is surely one of the most effective ways for Australians to build wealth. Property has historically increased in value in most markets in the long-term and gives buyers the added benefit of receiving a direct return from the rental income. Property that yields high rental returns as well as capital growth can be hard to find. So many investors base their strategy around either long-term capital growth or a cash positive rental return. If you’re not sure which path you should take, the following tips should help you decide which strategy best suits your goals. ## High rental returns Though they can pop up anywhere, good rental yields typically arise in regional or outer suburban areas. While such properties are less likely to be affected by market fluctuations, steady rental demands increase the likelihood of solid rental returns. Properties with a high rental yield can make for a great investment with those looking to increase their day-to-day cash flow, however it pays to take note that it will be taxed as income, and this can minimise an owner’s net returns. ## Investment property capital growth Capital growth investors on the other hand are looking for properties that appreciate in value instead of focusing on the rental yield. While usually found anywhere, investors generally focus on capital cities or areas of growth and development. The aim of this strategy is to sell the investment property for a profit after a certain number of years, leaving a healthy return on the original investment. It can be a struggle for some investors to work through the first few years of ownership though, as the rental returns may yield little or no profit and mortgage repayments may need to be subsidised with other funds. Just be careful that you are not over committing or paying more than is affordable. It is important to remember that while property investment is one of the safer options open to Australians, there is no guarantee that an investment property will continue to increase in value at the rate it has done in the past. Make sure you take time to research the market, always take a long-term view and speak to your mortgage broker to make sure that you have the most suitable finance in place. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Rental%20Return%20or%20Capital%20Growth%20-%20What%20is%20your%20Investment%20Property%20Strategy&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frental-return-or-capital-growth-what-is-your-investment-property-strategy%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/#print?share=print) - **Categories:** Investing **Tags:** investment property, investors, mortgage, mortgage broker, property investing, rental property --- ### [4 tips for raising the rent on your rental property](https://www.oceanhomeloans.com.au/4-tips-for-raising-the-rent-on-your-rental-property/) **Published:** July 16, 2014 **Author:** Brad Kirwan **Content:** Renting out your investment property is akin to running a business. To be a profitable **rental property** owner you need the correct combination of a well priced property and responsible long-term tenants. So how can you engender a favourable landlord-tenant relationship when it is time to raise the rent. ## Be in touch with the market Research the rental property market in your area to make sure the increase you are making is in line with market rates. Good tenants will understand the need to pay a higher rent amidst a tightening rental market and low vacancy rates. ## Maintain your rental property As with all forms of business, success comes from careful planning and efficiency. Attending to small problems quickly, such as a leaking tap or a jammed window for instance can stop minor irritations from escalating into major issues. As an added bonus, your tenant will be happy, making them more likely to be long-term tenants. ## Rent increase notices and reminders When the market indicates a time for a rent rise, then you’ll need to give your tenants fair warning in advance. Sixty days are the norm, but make sure you check with your agent first. Send a letter and have your agent explain all the terms in full to them. This way, tenants can expect their rent rise in the near future, without the shock of an overnight increase. If you mange the property yourself then follow the same time frames and procedures. ## Be professional When it comes to raising the rent, tenants respect and respond better to landlords that are professional in their approach. Conduct yourself professionally and listen to any requests or concerns your tenants may have and always follow up any discussions with your tenants in writing. A professional manner is important but don’t forget you are dealing with people too. Good rental property tenants can be difficult to come by, so don’t push them to hard for the sake of a few extra dollars. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/4-tips-for-raising-the-rent-on-your-rental-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/4-tips-for-raising-the-rent-on-your-rental-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/4-tips-for-raising-the-rent-on-your-rental-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/4-tips-for-raising-the-rent-on-your-rental-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/4-tips-for-raising-the-rent-on-your-rental-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/4-tips-for-raising-the-rent-on-your-rental-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%204%20tips%20for%20raising%20the%20rent%20on%20your%20rental%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F4-tips-for-raising-the-rent-on-your-rental-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/4-tips-for-raising-the-rent-on-your-rental-property/#print?share=print) - **Categories:** Property **Tags:** investment property, investors, property investing, rental property --- ### [Would a home loan refinance improve your financial position](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/) **Published:** July 18, 2014 **Author:** Brad Kirwan **Content:** For consumers planning on a **home loan refinance,** interest rate stability, increased home loan product choice and flexible mortgage interest rates have created the prime environment . Competition in the mortgage market is fierce with major lenders slashing rates and releasing some enticing mortgage products in a bid to win over your business. As the banks continue to battle over market share, an increasing number of borrowers are realising the potential savings on offer should they decide to make the switch to a new lender and apply for a home loan refinance. The mortgage you have now may no longer be the most appropriate or most affordable option available, so if you are unable to remember the last time you had a home loan health check, now may be the time to do so. Whether you are looking to drive down your mortgage balance or reduce your repayments, refinancing may be the ideal strategy. With exit fees now abolished, the cost of switching have been greatly reduced, however there are some more costs that you will need to consider before changing to a new lender. Switching home loans can carry other costs such as new application fees, legal fees and mortgage insurance. However, establishing which home loan best fits your needs can be quick and relatively stress free. ## How you can benefit from a home loan refinance Here are some ways refinancing can really boost your current financial situation: - **Find a better interest rate:** Bank competition, coupled with interest rate stability, has created some real opportunities for borrowers. Refinancing your mortgage to a fixed rate product will give you certainty around loan repayments. However, you should also consider break costs which may apply if you break your term early. - **Unlock the equity in your home:** Investors can use refinancing as an effective way to unlock the equity in their home, giving them more funds to act sooner. It is also a terrific way to gain some extra cash when renovating your home. - **Debt consolidation:** Finding it difficult to keep track of all your debts? Refinancing can place all your debts, including store and credit cards, into one loan. This will help you manage your debt more effectively and potentially save you thousands in interest rate repayments. Which option is best for you, even staying with you current loan, will depend on your circumstances. A mortgage broker can help make sure moving from one home loan to another is as safe and hassle free as possible, moreover, a mortgage broker can work with you to find the most appropriate product to meet your needs as well as help you through the application process, if a home loan refinance is the way to go for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Would%20a%20home%20loan%20refinance%20improve%20your%20financial%20position&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwould-a-home-loan-refinance-improve-your-financial-position%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/#print?share=print) - **Categories:** Refinance **Tags:** fixed interest rates, home loan refinance, interest rates, mortgage broker, mortgage repayments --- ### [4 tips to help you decide - How much can I borrow?](https://www.oceanhomeloans.com.au/4-tips-to-help-you-decide-how-much-can-i-borrow/) **Published:** July 23, 2014 **Author:** Brad Kirwan **Content:** When it comes to buying a home, one of the first questions you need to ask is: “**How much can I borrow**?” While your lender will make the final assessment about how much they are prepared to lend, it is essential that you make your own assessment of your finances first. Your goal is to determine what you can comfortably afford to repay towards your mortgage each month, not just how much can I borrow, this will then help establish what you are able to borrow. ## Prepare a how much can I borrow budget The best place to start is to add up all your regular monthly outgoings and then subtract this from your net income. Your outgoings include any regular commitments such as car or personal loans, credit card and store card repayments. Also add up other regular costs such as school fees, club memberships, monthly living expenses and your monthly discretionary spending. Do not include your current rental commitments into these figures. It will no longer be relevant once you move into your new home as you’ll be paying off your mortgage. Now look at your income. This should include your after tax salary, dividends on investments, rental income and any other funds that flow in over the course of the month. The dollar amount you’re left with will give you an indication on what you have available to pay towards your mortgage each month as things currently stand. ## Interest rates aren’t always this low The most important factor to consider is that if you have a variable home loan rate your mortgage repayments will increase as interest rates start to increase. Economists expect the cash rate to rise in the next 12 months so be sure to factor this into your mortgage repayments and household expenses. ## A home loan is a life changer It’s also essential that you consider exactly how much you are prepared to let your home loan change your life. The benefit of assessing your borrowing capacity is really twofold, to ensure that you don’t borrow beyond your means but also to help identify where you can realistically cut back if needed. ## Think long-term What are your future plans, be sure to take into consideration other personal factors, such as plans to have a family, or any dreams to travel. By following these four tips your How much can I borrow figure will instead show you how much you can comfortably afford, making for a more affordable and stress free mortgage. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/4-tips-to-help-you-decide-how-much-can-i-borrow/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/4-tips-to-help-you-decide-how-much-can-i-borrow/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/4-tips-to-help-you-decide-how-much-can-i-borrow/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/4-tips-to-help-you-decide-how-much-can-i-borrow/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/4-tips-to-help-you-decide-how-much-can-i-borrow/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/4-tips-to-help-you-decide-how-much-can-i-borrow/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%204%20tips%20to%20help%20you%20decide%20-%20How%20much%20can%20I%20borrow%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F4-tips-to-help-you-decide-how-much-can-i-borrow%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/4-tips-to-help-you-decide-how-much-can-i-borrow/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, budget, home loan refinance, how much can i borrow, mortgage repayments --- ### [Diversify your investment property strategy](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/) **Published:** July 21, 2014 **Author:** Brad Kirwan **Content:** Don’t put all your eggs in the one basket, but how does that analogy apply to your **investment property** strategy? As far as investment assets go, property has long been considered one of the safest wealth generating strategies available. Stocks change rapidly – often in minutes – rising and falling often. Property prices on the other hand grow at a steadier pace, traditionally doubling every 10 years (although that measure is less reliable today). Rental returns, meanwhile, give investors with the benefit of a regular weekly income. In recent years, however, the Australian property market has shifted from a smorgasbord of opportunity to pockets of prosperity. Price growth has exploded in some markets, particularly the capital cities of Sydney and Melbourne, where other markets are only now seeing consistent growth, leaving investors to look further a field for impressive returns. There is still plenty of opportunity in the Australian market; you just have to be wiser in your approach. Diversifying your assets is a popular strategy and one that will reduce your exposure to risk. A diversified investment property portfolio will increase the resilience of your assets. More often than not, if one market is underperforming, chances are another market is booming. ## Owning investment property in different markets Therefore, owning property in several different markets should keep the cash flowing in, even during those down periods. All to often, investors make the mistake of centralising their investments in one city or suburb due to earlier successes or current confidence in the market. Unfortunately, this approach can have disastrous consequences if that particular market goes down. Branching out and purchasing properties across several locations is a great way to strengthen your investment portfolio, while lowering risk. If you only own two properties in a regional market, try looking towards the city or a metropolitan suburb for your next purchase. Don’t be afraid to look outside your state either as there could be many opportunities to be had across the border. Property prices, stamp duty and land tax vary from state to state and you’ll be surprised at just how much money you could potentially save or make. Diversifying the type of property you own can also boost the performance of your portfolio. The unit market offers a whole new world of opportunities, with lower entry prices and competitive rental returns just to name a few. Moreover, looking towards an inner city unit as opposed to buying a four-bedroom detached house will immediately broaden the scope of your tenant demographic. Like all wealth-generation strategies, there are no guarantees, and while a diversified portfolio will certainly improve your odds of success there is no way to completely eliminate risk. We can provide you with the best loan to help you achieve your investment property goals. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Diversify%20your%20investment%20property%20strategy&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fdiversify-your-investment-property-strategy%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/#print?share=print) - **Categories:** Investing **Tags:** investment property, investors, property investing, rental property --- ### [Buying a new or old investment property - which is best?](https://www.oceanhomeloans.com.au/buying-a-new-or-old-investment-property-which-is-best/) **Published:** July 28, 2014 **Author:** Brad Kirwan **Content:** When looking to purchase an **investment property** the choice is not only about deciding to buy a unit or a house. You also have to decide between new or old. There are advantages for both styles of properties, and it really comes down to your short and long-term objectives. Where you intend to purchase your investment will also influence the type of properties that are available. ## New investment property Purchasing a property off-the-plan, which allows you to lock in today’s prices for a property that may be finished in a year or two in the future, can be an effective investment strategy as you will not have to make any mortgage repayments until the property is ready for occupation. The only cost will be the deposit. Other plus’s to buying new are: - Quality construction - Modern design with better energy efficiency and sustainability features - Attract quality tenants willing to pay a premium - Lower vacancy rates - Lower maintenance costs - Higher claimable depreciation value - Generally a better resale value - Structural guarantees and warranties apply The key potential pitfall with an off-the-plan purchase is that there is no guarantee that the property you buy today will have grown or even maintained its value. The downside of this is that your lender may not be willing to fund the entire purchase price, which will leave you with a shortfall. ## Established property There are also pros and cons associated with the purchase of an existing property. One of the key benefits is that during a slower market you might have greater scope to negotiate on price. In addition, you may be able to add value through renovation, which will modernise the investment property and possibly help you achieve a higher rental return. Other plus’s to buying old are: - Opportunity to ‘pick up a bargain’ - Stronger performers in slower markets - Established historical sales data - You pay a premium for new properties On the down side, older properties may require more maintenance or have serious structural issues, which can be expensive to fix. It might also be more difficult to attract tenants to an older investment property. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/buying-a-new-or-old-investment-property-which-is-best/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/buying-a-new-or-old-investment-property-which-is-best/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/buying-a-new-or-old-investment-property-which-is-best/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/buying-a-new-or-old-investment-property-which-is-best/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/buying-a-new-or-old-investment-property-which-is-best/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/buying-a-new-or-old-investment-property-which-is-best/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Buying%20a%20new%20or%20old%20investment%20property%20-%20which%20is%20best%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fbuying-a-new-or-old-investment-property-which-is-best%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/buying-a-new-or-old-investment-property-which-is-best/#print?share=print) - **Categories:** Property **Tags:** home improvements, investment property, investors, negative gearing, property investing, rental property --- ### [Mortgage Offset or Home Loan Redraw - what's best?](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/) **Published:** July 25, 2014 **Author:** Brad Kirwan **Content:** Mortgage offset accounts and redraw facilities are now available from most lenders as features of your home loan, help you manage it more effectively. Both features can make a significant impact as part of a mortgage reduction strategy, taking years off your mortgage and helping to save in interest repayments. The basis for each technique is simple: by making extra repayments to your principal loan amount you will reduce the interest you are charged – thereby reducing the life of your loan. While both **mortgage offset** accounts and redraw facilities can be an effective mortgage reduction tool for many borrowers, you may find that you are paying a higher rate on your loan for bells and whistles you don’t really need. When considering these home loan options you should consider these important points: ## Home Loan Redraw Lets you make extra repayments directly into your loan, helping to drive the principal down faster. This reduces the interest you’re charged each month, allowing you to channel more money into cutting the principal loan amount further. Unlike some basic home loans, you can redraw additional repayments if required, to cover school fees for example, without having to refinance your loan. While this offers a degree of flexibility, a redraw can be more expensive: you can often incur fees for each withdrawal and may find that the amount or frequency for withdrawals has a cap. ## Mortgage Offset This feature effectively allows you to save on the interest you are charged on your mortgage through [offsetting](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/ "How do Offset Account Home Loans work?") its balance against your savings. For example, rather than earning a few per cent interest in a traditional savings account, by placing your savings into your mortgage offset you are effectively saving whatever your current home loan interest rate. You can also direct your salary into the account while servicing your bills and other debts as required. Mortgages that have an [offset account](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "Offset Account Home Loans – Pay Your Loan Off Sooner") attached to it usually charge a higher rate of interest, and often require a substantial amount of cash to remain untouched in the account to reap maximum benefits. There are obviously pros and cons with both options; make sure you do your research or have your mortgage broker look at your situation before making a decision on adding a redraw or mortgage offset facility to your home loan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Mortgage%20Offset%20or%20Home%20Loan%20Redraw%20-%20what%27s%20best%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fmortgage-offset-or-home-loan-redraw-whats-best%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, interest rates, mortgage offset, mortgage offset loan, mortgage reduction, mortgage repayments --- ### [Consolidate your debts with a home loan refinance](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/) **Published:** August 8, 2014 **Author:** Brad Kirwan **Content:** If you’re struggling under the weight of mounting debt and feeling the stress of multiple loans, a **home loan refinance** is a simple solution you should consider. Debt is an unavoidable stage of your financial journey. Over the years, you are sure to take out a range of loans depending on your needs in life. Whether you are buying a new home or upgrading your family car, chances are you will need some extra cash to finance your purchase. Managing one or two loans shouldn’t be a hassle; however, once you throw three or four credit cards and other personal loans into the mix, then you may encounter the difficulties associated with handling multiple debts. If you find yourself surrounded by mounting debt, it may be time to consider consolidating your debts into one financial location. Refinancing can be a quick and simple way to gain greater control of your various debts, but there are few tricks to make sure you get the best deal. First, consider the rate of interest you are paying for each of your loans. Credit cards and personal loans tend to carry a high interest rate and are not the most financially viable loans. So, what is the most cost-effective way to consolidate your debts through refinancing? ## Equity is the key to a home loan refinance If you have enough equity in your property, it may be possible to consolidate your higher interest debts into your home loan (which would have a lower interest rate). Rather than paying an interest rate as high as 14 per cent for a personal loan, your average home loan will carry an interest rate of less than 5 per cent for a $300,000 variable rate loan. By consolidating your debt with a home loan refinance you may be able to save thousands of dollars that otherwise would be spent on excessive interest rates. You would also rid yourself of some of the stress of managing multiple monthly repayments. If you are considering refinancing, then now may very well be the right time to do it. Record low interest rates and strong competition among the major lenders can only mean one thing: savings are there for the taking by clever borrowers. As features and rates vary from product to product and from lender to lender, we are best suited to find you a home loan refinance product that reflects your personal circumstances and is right for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Consolidate%20your%20debts%20with%20a%20home%20loan%20refinance&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fconsolidate-your-debts-with-a-home-loan-refinance%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/#print?share=print) - **Categories:** Refinance **Tags:** debt consolidation, home loan refinance, mortgage broker, mortgage repayments --- ### [6 Tips to increase your home loan borrowing capacity](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/) **Published:** August 1, 2014 **Author:** Brad Kirwan **Content:** The majority of **home loan** lenders now require a deposit of between 5 and 10 per cent, with many requesting evidence that the deposit was saved overtime, which is commonly referred to as ‘genuine savings’. For many would-be home buyers these changes are disappointing as many have the income to service a mortgage, but just don’t have the cash for the deposit. While your new home may now be a little harder to secure, don’t despair. Here are some tips to help you enter the market sooner. ## Regular Savings Start a regular savings pattern now, banks will look for a good savings history; it shows that you’re able to manage your money. ## Tougher standards Lenders are implementing tougher requirements when it comes to lending, this might include looking deeper into your employment history (i.e. how long you’ve held a position for); so if you have a good job, stick with it. ## Home loan borrowing power Boost your home loan borrowing power by eliminating other debts and liabilities, pay off any outstanding loans, reduce and eliminate credit card debts and reduce credit card and overdraft limits; even if you’re not using them, high limits will reduce your borrowing power. ## Paperwork Documentation is also more important, be sure to have all supporting documents ready to fasten the process; this includes payslips, PAYG Summary’s and savings statements. ## Be realistic Don’t seek a loan size you know you cannot afford without placing yourself into financial hardship. ## Use a professional Contact a mortgage broker, a mortgage broker will be able to assess your borrowing capacity as well as direct you to the appropriate lender and home loan product type to suit your needs. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20Tips%20to%20increase%20your%20home%20loan%20borrowing%20capacity&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-tips-to-increase-your-home-loan-borrowing-capacity%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, budget, home loan, home loans, mortgage repayments --- ### [RBA to hold interest rates tight until 2015](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/) **Published:** August 5, 2014 **Author:** Brad Kirwan **Content:** While there have been domestic improvements in both retail and employment numbers, **interest rates** will remain steady for the month of August, with the RBA maintaining the current rate of 2.50%. Analysts are predicting the rate will hold steady for 18 months in total from the time of its previous change, a quarter percentage point cut, in August 2013. They say that the next change, predicted to be a rate hike, is unlikely to happen until early 2015. Although the official July jobless rate isn’t due out until Thursday, many economists are tipping the economy to have added 20,000 jobs in the last month alone. News in the retail sector is also positive, with Monday’s announcement highlighting a stronger than expected 0.6 per cent rise in retail sales for the month of June. ## Business confidence rising on steady interest rates HSBC Australia chief economist Paul Bloxham believes both consumer and business confidence has taken a positive turn in the last few weeks. “Consumer sentiment has bounced back strongly in recent weeks, and business sentiment, which was largely unaffected by the budget, remains at levels consistent with rising domestic demand,” he says. Global monetary policy, particularly in the US still hangs over the local market, but ANZ senior economist Justin Fabo says we are likely to see interest rates rise here before the US does. “Markets are pricing the first increase in US rates around – August next year but we expect it before then,” he predicts. If you’ve been thinking about downsizing, upsizing or investing, perhaps now is the time as interest rates remain low, to look at your options. As always, we’re here to share our expertise with you, so give us an obligation-free call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20to%20hold%20interest%20rates%20tight%20until%202015&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-to-hold-interest-rates-tight-until-2015%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/#print?share=print) - **Categories:** Interest Rates **Tags:** budget, construction, home loan refinance, interest rates, investors, variable interest rates --- ### [Is your home loan still working hard for you - 4 things to consider](https://www.oceanhomeloans.com.au/is-your-home-loan-still-working-hard-for-you-4-things-to-consider/) **Published:** August 6, 2014 **Author:** Brad Kirwan **Content:** Why not start the new financial year with a **home loan** health check and see if you could be saving yourself money. Put your loan through its paces once a year to make sure it still meets your requirements. Following are four points worth considering. ## Am I paying too much interest? Although the interest rate alone is not the only consideration for choosing a loan, it makes sense to check that you’re not paying more for a product than you need to. There is always competition between lenders to offer the lowest rate, so even if you had the cheapest home loan a year ago, things may have changed. Before switching to a lower rate just make sure you take break costs into consideration, or you could end up worse off. ## What’s new in my life? Has your personal situation changed over the last year? Maybe you’ve been promoted, had a pay rise, or gone from contract work into a permanent position. Different mortgage products are tailored for different situations, so you may be better suited to a different loan. For example, if you were previously self-employed, but are now a salaried employee, your [Low Doc loan](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/ "Self-Employed – a Low Doc Home Loan could be the answer") could be switched to a lower interest product. ## I need to unlock equity? Over the years you’ll accumulate considerable equity in your home as you repay your mortgage. But you may be able to tap into the value that’s built up in your home without having to sell. Australians can use equity from their homes to fund many requirements, from putting children through university to increasing assets through purchasing an investment property. As long as you can service the loan repayments, you may be able to borrow up to 80 percent of the value of your home without having to pay lenders mortgage insurance. ## Can I pay off my home loan faster? Some mortgage products are designed to help motivate borrowers repay their mortgages quickly. If you’re striving to be mortgage free, there may be a more effective product than your existing loan to drive your mortgage down. A ‘Basic’ loan usually comes at a lower interest rate, but its lack of flexibility may restrict certain mortgage reduction techniques. Equity lines, off-set accounts, and redraw facilities all allow borrowers to pile extra funds into their mortgage on a regular basis, which may result in taking years off your home loan repayments. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/is-your-home-loan-still-working-hard-for-you-4-things-to-consider/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/is-your-home-loan-still-working-hard-for-you-4-things-to-consider/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/is-your-home-loan-still-working-hard-for-you-4-things-to-consider/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/is-your-home-loan-still-working-hard-for-you-4-things-to-consider/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/is-your-home-loan-still-working-hard-for-you-4-things-to-consider/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/is-your-home-loan-still-working-hard-for-you-4-things-to-consider/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Is%20your%20home%20loan%20still%20working%20hard%20for%20you%20-%204%20things%20to%20consider&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fis-your-home-loan-still-working-hard-for-you-4-things-to-consider%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/is-your-home-loan-still-working-hard-for-you-4-things-to-consider/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, mortgage repayments, offset account, redraw --- ### [With rates so low, now is the time to look at a mortgage refinance](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/) **Published:** August 13, 2014 **Author:** Brad Kirwan **Content:** Cash rate stability, increased product choice and low interest rates have created the prime environment for consumers planning on a **mortgage refinance** of their home loan. Competition in the mortgage market is at an all time high. Major lenders are slashing rates and releasing some enticing mortgage products in a bid to win over your business. As the banks continue to battle over market share, an increasing number of borrowers are realising the potential savings on offer should they decide to make the switch to a new lender The mortgage you have now may no longer be the most appropriate or most affordable option available. If you are unable to remember the last time you had a credit check, now could be the time to do so. Whether you are looking to drive down your mortgage balance or reduce your repayments, refinancing may be the ideal strategy. ## The benefits of a mortgage refinance Find a better interest rate, bank competition, coupled with interest rate stability, has created some real opportunities for borrowers. Refinancing your mortgage to a fixed rate product will give you certainty around loan repayments. However, you should also consider break costs which may apply if you break your term early. Unlock the equity in your home, investors can use a mortgage refinance as an effective way to unlock the equity in their home, giving them more funds to act sooner. It is also a terrific way to gain some extra cash when renovating your home. Debt consolidation, finding it difficult to keep track of all your debts? Refinancing can place all your debts, including store and credit cards, into one loan. This will help you manage your debt more effectively and potentially save you thousands in interest rate repayments. Which option is best for you, even staying with you current loan, will depend on your circumstances. While the federal government abolished exit fees for new loans in 2012, there are some extra costs that you will need to consider before changing lender. Moving home loans can carry other costs such as new application fees, legal fees and mortgage insurance. However, establishing which home loan best fits your needs can be quick and relatively stress free. A mortgage broker can help make sure the transition from one home loan to another is as safe and hassle free as possible. Moreover, they can work with you to identify the most appropriate product to meet your needs as well as help you through the application process if a mortgage refinance is appropriate for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20With%20rates%20so%20low%2C%20now%20is%20the%20time%20to%20look%20at%20a%20mortgage%20refinance&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwith-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/#print?share=print) - **Categories:** Refinance **Tags:** debt consolidation, fixed interest rates, home loan refinance, interest rates, investors, mortgage broker, mortgage refinance, mortgage repayments, variable interest rates --- ### [Now is the time to secure that investment property](https://www.oceanhomeloans.com.au/now-is-the-time-to-secure-that-investment-property/) **Published:** August 11, 2014 **Author:** Brad Kirwan **Content:** With interest rates lower than they’ve been in years, property prices on the rise and rental returns on the up-and-up, you may be thinking that securing an **investment property** has never better. And you may well be right! Thanks to the combination of low-interest rates and high rental yields, property investment may now deliver cash flow neutral or even cash flow positive returns and that could mean that your property can pay for itself. Moreover, there may be significant tax breaks as well. Successful property investment does require homework and a little prudence. But don’t be put off , it is by no means too complex for the average Australian. So whether you’re a seasoned investor or a would-be first timer now may just be the ideal time to make it happen. Know your capacity before you decide what to buy, you need to establish your budget. With a clear idea of what you can afford to borrow you’ll be in a strong position to decide what type of property to focus on and in which price bracket. Not only can a mortgage broker give you an indication of your borrowing capacity they can even help you secure a [pre-approved loan](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/ "Getting your Finances ready – A Home Loan Pre Approval"). This service by most mortgage brokers doesn’t cost you anything, just your time or a quick phone call. ## Decide on what type of investment property Once you know your buying power you can think about what type of investment property to buy. Most investors favour residential property, typically a house or a unit. Each comes with its pros and cons and there’s no right or wrong decision, it really depends on the buyer’s preference. Do your homework regardless of the property type, the location can make the difference between a good investment and a lemon. While there can be exceptions, you’re generally looking for a property that is close to public transport, has easy access to shops, parks, schools and restaurants, plus serviced by good road infrastructure. With a clear idea of the right location you can set about researching the market. The internet is without doubt one of the most effective research options available to investors. As well as researching all the properties that are for sale you’ll also be able to assess what kind of rental values other properties in the area are achieving. Be sure to use the skills of an [experienced mortgage broker](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/ "A mortgage broker will help you find the mortgage that suits you best"), who will run you through the various financing scenarios and products available to match your investment goals. Remember, for the greatest success an investment property shouldn’t considered as a short-term endeavour, rental values will always increase over time with a well located property and so too will your returns. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/now-is-the-time-to-secure-that-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/now-is-the-time-to-secure-that-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/now-is-the-time-to-secure-that-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/now-is-the-time-to-secure-that-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/now-is-the-time-to-secure-that-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/now-is-the-time-to-secure-that-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Now%20is%20the%20time%20to%20secure%20that%20investment%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fnow-is-the-time-to-secure-that-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/now-is-the-time-to-secure-that-investment-property/#print?share=print) - **Categories:** Property **Tags:** borrowing capacity, interest rates, investment property, mortgage broker, pre approval, rental property --- ### [6 tips to get your home loan approval first time](https://www.oceanhomeloans.com.au/6-tips-to-get-your-home-loan-approval-first-time/) **Published:** August 20, 2014 **Author:** Brad Kirwan **Content:** The biggest financial commitment during their lifetime for most people is for a **home loan**. Such an obligation requires thorough and precise planning, but with the right resources and careful preparation, you shouldn’t need to stress. Here are a few tips to help you make the mortgage application a breeze. ## The paper trail When applying for a home loan, the more information you can provide, the better your chances of having your mortgage approved. Buy a handy file to store all your documents including: - Statements of all previous loans and credit cards - Payslips – last 2 at least - Tax returns - PAYG summaries - Most recent personal bank statement - Anything else you think is relevant ## Have your credit report up to date Before anything, you will need to ensure that your finances are in order. Sit down and assess your [credit report](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/ "Credit Report – Changes on the Way") – this includes your personal history of all your credit accounts (cards, loans, mobile phone plans etc.), and all their associated repayment histories. These are the first things that your lender will be looking at when you apply for a home loan. ## If it’s wrong – dispute it Misinformation and discrepancies will hurt your credit score and may cause your application to be denied, so consider speaking to a credit professional to help you dispute these issues. ## If it’s outstanding – pay it off Mortgage lenders will be assessing your ability to pay off debts on time. So, if you have anything outstanding, clear them up as soon as you are able to. If for any reason you have recently made a late payment or have paid off any delinquencies, it is probably a wise idea to wait at least 6 months before applying for a mortgage. ## Home loan deposit size Lenders always give preference to those who put down larger deposits. Generally, they consider loans for 80% of the property value to be ‘safe’. Keep in mind that they may be willing to stray from their normal lending policy, if you are willing to put down a large deposit. [Borrowing less than 80%](https://www.oceanhomeloans.com.au/why-size-matters/ "It’s Not How Big Your Mortgage is – Borrowing Smart") also means you can also be exempted from the Lenders Mortgage Insurance (a one-off fee that can be quite strict when assessing your mortgage). ## Use a mortgage broker A mortgage broker can help you prepare for your loan application so you have the best possible chance of approval, mortgage brokers have access to a wide range of competitive variable, fixed rate and split rate loans from a large panel of leading lenders. This way, you can feel confident knowing you’ll get the most competitive interest rates available for your home loan from any of the lenders available to your mortgage broker. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-tips-to-get-your-home-loan-approval-first-time/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-tips-to-get-your-home-loan-approval-first-time/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-tips-to-get-your-home-loan-approval-first-time/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-tips-to-get-your-home-loan-approval-first-time/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-tips-to-get-your-home-loan-approval-first-time/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-tips-to-get-your-home-loan-approval-first-time/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20tips%20to%20get%20your%20home%20loan%20approval%20first%20time&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-tips-to-get-your-home-loan-approval-first-time%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-tips-to-get-your-home-loan-approval-first-time/#print?share=print) - **Categories:** Loans **Tags:** credit report, home loan, home loan refinance --- ### [6 tips to pay your home loan off faster and achieve financial freedom](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/) **Published:** August 25, 2014 **Author:** Brad Kirwan **Content:** Home loan interest rates have never been lower – and the only way to go is up. Even though most economists believe that an interest rate rise is months away, the opportunity to pay your mortgage off sooner (and save many thousands of dollars in the process) should be too good to pass up. It’s a great idea, you say, but after paying monthly bills you are almost at the bottom of your account before next payday. Here are some handy tips to help you achieve your dream of owning your house sooner (and might even help fund your next property purchase)! ## Regular extra payments Make small, regular extra payments. It all adds up – if you can find even $100 to squeeze from your monthly pay, you can put this toward your home loan to pay it off sooner. ## Higher repayments Set your monthly mortgage repayment higher than the minimum set by your bank. If you’ve had a variable mortgage for a while, you’ll notice that your repayments have dropped dramatically. If you’d kept repaying at the same rate as two years ago, you would be well on your way (and it’s better late than never)! ## Use lump sums wisely Put those occasional lump sums into your mortgage. When you get a tax refund, bonus from your workplace or even a small inheritance, these can cut years off of your loan and save you a packet on interest. ## A home loan offset account is a must Make sure you have an [offset account](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/ "How do Offset Account Home Loans work?"). There’s no better place for interest to go than into your mortgage – the amount of money you will save by paying your loan off sooner can run into the tens of thousands. ## Do it fortnightly Changing from monthly to fortnightly repayments is the safest and most effective mortgage reduction strategy, by paying fortnightly you are effectively making a total of 13 monthly repayments over the course of a year, giving you one month’s extra repayment every year. ## Review your loan with a mortgage broker See your mortgage broker. What was right for you when you first bought your home may not be the ideal loan for your current circumstances. You may, for example, want to split your loan, or set a fixed rate or perhaps you’ve recently had a child and moved to one income, maybe you’ve changed jobs and have greater earning capacity – all of these factors can influence the relevance of your mortgage. There are a number of options that your mortgage broker can take you through. Work out a strategy – now The sooner you begin paying down your **home loan**, the better – it will never be more affordable to achieve you dream of financial freedom sooner than it is now. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20tips%20to%20pay%20your%20home%20loan%20off%20faster%20and%20achieve%20financial%20freedom&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, interest rates, mortgage broker, mortgage offset loan --- ### [Fixed rate home loans - the new lender battleground](https://www.oceanhomeloans.com.au/fixed-rate-home-loans-the-new-lender-battleground/) **Published:** August 27, 2014 **Author:** Brad Kirwan **Content:** Right now, you’ll find plenty of news items telling us that a **fixed rate** home loan is a good idea. It’s true – if you have ever considered this, there will never be a better time. If you haven’t, it’s worth thinking about. The Big Four knows this, and they’re all after your business. They’ve jumped on the bandwagon and lowered their fixed rates to below the magic 5% mark. This is a possible once-in-a-lifetime opportunity to have a stable monthly payment before rates begin to rise again (as they inevitably will). Once the first of the Big Four banks lowered their five year fixed loan to below 5%, it was only a matter of hours before the other three started to follow. However, most other lenders have done the same and so the options may overwhelm you. ## What is a fixed rate loan? It is an agreement between the bank and the borrower that the borrower will be protected from rising interest rates for the period of the fixed rate. Most have a time limit – 3, 4 and 5 years are popular. ## The devil is in the detail A guaranteed monthly payment makes it easier to plan cashflow; but there are disadvantages. Before you commit, make sure you know exactly what a fixed rate mortgage involves. Although many banks are becoming more flexible with these types of loans, some may include: - Not being able to pay down your mortgage – some banks won’t allow any extra payments during the period of your fix rate while others limit the amount you can repay - You most likely won’t be able exit your loan during this period without a costly payout - Some don’t offer redraw facilities There is also the chance over the term of your loan that variable interest rates may actually be cut, but that’s part of the deal when you sign. ## Split loan A popular choice is to [fix a certain amount](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/ "Splitting your home loan choices") of your mortgage – say, 50% and leave the other 50% variable. This ‘hedging your bets’ option allows you to take advantage of the benefits of both types – a more stable monthly payment and the ability to take advantage of all of the benefits of a variable home loan. ## What’s your choice? Ultimately, you’ll need to decide if a fixed rate home loan suits your needs now and take into account the next 3-5 years. Write down the pluses and minuses, and then make sure you compare all of the options that are currently on the market. Finally, have your [mortgage broker](https://www.oceanhomeloans.com.au/about-us/ "About Us – Ocean Home Loans Mortgage Brokers") go over all the pros and cons for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/fixed-rate-home-loans-the-new-lender-battleground/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/fixed-rate-home-loans-the-new-lender-battleground/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/fixed-rate-home-loans-the-new-lender-battleground/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/fixed-rate-home-loans-the-new-lender-battleground/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/fixed-rate-home-loans-the-new-lender-battleground/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/fixed-rate-home-loans-the-new-lender-battleground/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Fixed%20rate%20home%20loans%20-%20the%20new%20lender%20battleground&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffixed-rate-home-loans-the-new-lender-battleground%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/fixed-rate-home-loans-the-new-lender-battleground/#print?share=print) - **Categories:** Fixed Rate **Tags:** fixed rate, home loan refinance, home loans, interest rates, split loans --- ### [Purchasing an investment property using current equity](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/) **Published:** August 29, 2014 **Author:** Brad Kirwan **Content:** The sustained period of low interest rates has got many people wondering whether it’s time to buy an **investment property**. But how do you do that if you’re already paying off one mortgage? It is important not to base your decision on interest rates alone. Variable rates are just that: variable. If your objective is to produce rental income and capital growth, your investment needs to allow you to achieve this. It must be the right decision for you in the long run. ## How can I borrow against my current mortgage? Unfortunately, not everyone is lucky enough to have a bank account full of instantly accessible cash. However, it is possible to borrow against your current mortgage to fund a new investment. If you have lender’s mortgage insurance (LMI), the bank will allow you to borrow up to 95% of the entire value of your property. Without it, you can borrow up to 80%. This applies to the property you currently own. It is possible to use this borrowed money to fund the deposit for your next investment property. Once you’ve decided on a second property, you can borrow 80% (without LMI) against this property as well. The idea is that you then use your salary and rental income from your investment to pay off your loans. Before all this is possible you will be required, at the very least, to provide proof of current income and predicted rental return to your bank or lender. For serious investors, using a mortgage broker to apply for an investment loan once you are ready to start looking for a property is one of the first steps in the buying process, their knowledge of different lenders and their lending criteria can help you to find the loan best suited to you. If you are unsure of any aspect of the finance process, your [mortgage broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/ "6 Reasons why you should use a Mortgage Broker") is always available to aid you from the pre-approval stage to settlement. ## Other things to consider when purchasing an investment property This might sound fairly straightforward, but there are many other things that need to be taken into account when deciding whether or not to purchase a property. Does the property need renovations? Will you need to use a property manager? Will you be paying hefty strata fees? Is it close to schools, shops and transport? All of these things will affect your yield over the long term, and property investment is a long-term commitment. There is no substitute for homework, so before making a decision to purchase an investment property, ensure you have done all necessary research and are confident with the decision you are making. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Purchasing%20an%20investment%20property%20using%20current%20equity&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fpurchasing-an-investment-property-using-current-equity%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/#print?share=print) - **Categories:** Investing **Tags:** interest rates, investment property, investors, property investing, rental property --- ### [Should I get a home loan or continue paying rent - the debate](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/) **Published:** September 1, 2014 **Author:** Brad Kirwan **Content:** The RBA recently released a paper announcing the percentage of property growth needed on an ongoing basis for a **home loan** to purchase property to be more advantageous than renting. The paper states that house prices around Australia have increased by 2.4 per cent, taking into account inflation and ownership costs, over the past 60 years. It claims, that if prices rise 2.9% per year moving forward, taking out a home loan and buying will beat renting over a period of eight or more years of ownership. However, if home values only increase by the expected real rate of 1.7 percent, it will take more than 30 years. ## The home loan v rent debate The paper has sparked a lot of debate as to which option leaves you with a higher disposable income. Opinions are divided and largely dependent on location and lifestyle. RP data analyst Cameron Kusher confirmed location as a key variable in determining which option provided the best return, saying there are certain suburbs that would have likely outpaced inflation, making homes in these areas worthwhile investments. “Realistically, most suburbs in Melbourne and Sydney have grown in excess of the (2.9 per cent) projection,” he said. “Over the last 15 to 20 years we have definitely seen growth in excess of inflation most of the time.” Others argue that while [interest rates](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/ "RBA to hold interest rates tight until 2015") may be at an all time low, it’s difficult to save for [a deposit](https://www.oceanhomeloans.com.au/saving-for-a-home-loan-its-all-in-the-budgeting/ "Saving for a Home Loan – it’s all in the Budgeting") when you are living, shopping and eating in the city in order to be close to work. Former real estate agent Martin Beard used to own four investment properties, but sold them all and started renting. “I look at the massive amount of money that gets tied up in your home… I live debt-free, basically,” he said. “We live in a big home in a great suburb that is so close to everything with big living areas and a lock-up garage, so I am happy with the compromise.” ## The outcome? The RBA acknowledged there were limitations in the paper, such as non-financial benefits to owing your own home, including security of tenure, freedom to renovate and pride of ownership. It’s a debate that’s ongoing and everyone will have a different argument, as it all comes down to individual priorities, how soon you wish to buy, where you want to live and how you want to live. So if you feel that now is the time to enter the property market and take out that home loan, then your first course of action should be to contact a [mortgage broker](https://www.oceanhomeloans.com.au/ "Gold Coast Mortgage Brokers"), who will be able to guide you through the process of applying for a mortgage. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Should%20I%20get%20a%20home%20loan%20or%20continue%20paying%20rent%20-%20the%20debate&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fshould-i-get-a-home-loan-or-continue-paying-rent-the-debate%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/#print?share=print) - **Categories:** Mortgage **Tags:** first home buyers, home loan, mortgage repayments, rental property --- ### [Steady inflation contributes to steady interest rates](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/) **Published:** September 2, 2014 **Author:** Brad Kirwan **Content:**  It has been an entire year since changes to domestic **interest rates**, with the RBA once again holding it steady for the month of September. In fact, most economists believe rates will not change at all for the remainder of 2014, particularly in light of the flat inflation figures released this week. Overall, prices for Goods and Services remained relatively fixed throughout August, with slight price increases across fruit and vegetables, books, stationary and newspapers, offset by reduced health costs and petrol prices. ## Interest rates steady for the rest of the year Whilst no rate increase is predicted for the remainder of the year, neither is a rate cut. According to ANZ chief economist Shane Oliver, a lot would have to go wrong in the economy before a rate cut would occur, including renewed weakness, poor unemployment and hiking inflation. “The RBA is on the lookout for these things. There’s been a tentative recovery in the jobs market but if this vanishes, it could provide the catalyst for a rate cut, but I think it’s unlikely,” he said. RBA Governor Glenn Stevens acknowledged that whilst low interest rates have been positive news for those looking to borrow, such as first homebuyers and investors, they haven’t been as pleasant for those with money tucked away in the bank. “Right now savers are feeling the pinch of very low rates of interest on the safe assets that they hold and they’re feeling prompted to accept, in many cases, a little bit more risk to get the return they’re seeking,” he said. Global economic factors and international relations will also play a part in any fluctuations we see in the interest rate, however the consensus regarding these elements also seems to support no expected changes until next year. If you’ve been thinking about downsizing, upsizing or investing, with interest rates staying low, perhaps now is the time to look at your options. As always, we’re here to share our expertise with you, so give us an obligation-free call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steady%20inflation%20contributes%20to%20steady%20interest%20rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsteady-inflation-contributes-to-steady-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, mortgage, mortgage repayments, variable interest rates --- ### [5 easy steps to put you on the road to investment property success](https://www.oceanhomeloans.com.au/5-easy-steps-to-put-you-on-the-road-to-investment-property-success/) **Published:** September 3, 2014 **Author:** Brad Kirwan **Content:** You’ve been thinking about getting that first **investment property** but just aren’t quite sure where to start, use these simple tips to get the ball rolling. ## Find your comfort zone If you are thinking of investing in property, it is important to first set out a clear budget. You need to allow for all costs, including the purchase price, transfer duty, conveyancing and possibly lenders mortgage insurance and any maintenance that needs to be performed to make the property tenant ready. After you have worked out your base costs ask your mortgage broker to arrange pre-approval on your loan so that you know exactly how much you can borrow before you start your property search. ## Look to professionals Before you buy any investment property, seek professional advice. Your lawyer and your mortgage broker can help you with any information you may be missing. Having the correct loan structure is critical for your long term wealth goals, so make sure you seek advice from professionals that you can trust. ## Investment property location Choosing an upcoming area can pay dividends, it is important to consider the demographics of the area you intend to invest in. Are you targeting young couples, families or students? This will give you a good indication of the type of properties you should be looking for. Young couples will probably be looking for units close to major cities, while families are often looking for houses in the suburbs that are close to schools and other amenities. ## Property inspections are a must When purchasing properties that are older, an inspection can reveal significant building problems or hazards, and help you decide if the house or unit is really what you are looking for after all. Make sure you understand the contents of the inspection report to avoid expensive repairs later. ## Use a property manager Having a professional [property manager](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/ "8 Questions you must ask your Investment Property Manager") between you and your tenants is an effective approach with an investment property. Choose an agent who’s enthusiastic about keeping a good relationship with your tenants, and proactive in your property’s care and maintenance. Know your rights and responsibilities, although your agent can guide and instruct you. ## Be in it for the long haul Don’t forget that property investing is a long-term strategy and relying on property prices rising in the short-term is folly. The longer you can afford to commit, the better, and as you build up equity, you can consider purchasing a further investment property in the future. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-easy-steps-to-put-you-on-the-road-to-investment-property-success/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-easy-steps-to-put-you-on-the-road-to-investment-property-success/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-easy-steps-to-put-you-on-the-road-to-investment-property-success/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-easy-steps-to-put-you-on-the-road-to-investment-property-success/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-easy-steps-to-put-you-on-the-road-to-investment-property-success/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-easy-steps-to-put-you-on-the-road-to-investment-property-success/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20easy%20steps%20to%20put%20you%20on%20the%20road%20to%20investment%20property%20success&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-easy-steps-to-put-you-on-the-road-to-investment-property-success%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-easy-steps-to-put-you-on-the-road-to-investment-property-success/#print?share=print) - **Categories:** Investing **Tags:** investment property, investors, mortgage broker, rental property --- ### [Spring clean your finances with a home loan health check](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/) **Published:** September 5, 2014 **Author:** Brad Kirwan **Content:** It’s a good idea to review your financing arrangements regularly and what better time of year to assess the health of your **home loan** finances than spring? Whether you’re an avid property investor, a first home buyer or somewhere in between, if you’ve got at least one mortgage it pays to review your set-up every year. Reviewing your finances can be advantageous for a number of reasons. First of all, you might discover additional features or a more cost effective loan repayment set-up – such as larger repayments or additional repayments – could save you serious cash. Interest rates are now exceptionally low and competition is driving some very attractive product ranges, which may offer significant savings. If you’ve got personal loans and credit cards, a financial spring clean could help you get on top of your debt and put you in better stead for your future. ## New home loan opportunities A spring clean may also help you to unearth new opportunities. Perhaps you’ve acquired a fair bit of equity that could be used to fund renovations, a trip overseas or another property purchase. In fact, if you’re thinking about cracking the market in the months ahead, it’s particularly pertinent to assess your finances and discover what opportunities you could take advantage of. It’s hard to imagine anyone’s circumstances remaining the same for long and so a financial check up is also important in ensuring you adjust your finances to suit your situation and priorities. From marriage to employment arrangements, children and travel, all of these factors affect our finances and so it’s important to ensure your home loan meets your changing needs. For example, did you know, if you’re far enough ahead on your loan repayments, you might be able to take a repayment ‘holiday’? If a change is on the horizon, which may impact your ability to service your loan, this could be worth exploring. In preparation for your financial spring clean, make sure you think carefully about your spending habits and any changes to your circumstances that might be on the horizon. It’s also important to reflect upon your financial goals, whether they have changed and how close or far you are from achieving them. This will help you in assessing your arrangements and determining any changes you might like to make. So whether it’s going to [save you money](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/ "With rates so low, now is the time to look at a mortgage refinance"), open new opportunities or simply deliver the peace of mind that your financial future is on track, a financial home loan spring clean is a worthwhile addition to your to-do list this spring. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Spring%20clean%20your%20finances%20with%20a%20home%20loan%20health%20check&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fspring-clean-your-finances-with-a-home-loan-health-check%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, interest rates, investment property --- ### [5 tips to help you understand an off the plan property investment](https://www.oceanhomeloans.com.au/5-tips-to-help-you-understand-an-off-the-plan-property-investment/) **Published:** September 29, 2014 **Author:** Brad Kirwan **Content:** There’s nothing like buying a property for less than its market value to get ahead on the **property investment** ladder. That’s why buying a property ‘off the plan’ can offer some real advantages. In most states buying off the plan incurs considerable stamp duty savings. Potentially, capital growth on the property can occur prior to settlement as most developers offer lower prices and financial incentives to get in on the project early. So buying off the plan can offer more opportunities to profit, but there is a lot more to consider when buying off the plan. These tips will help you focus on what’s important and assist in avoiding some of the common pitfalls when buying off the plan. ## Get the right price Getting in on a development early can help you to get a better price because developers need fast, early sales to get a project off the ground. Together with stamp duty savings and government incentives, this could put you well ahead on the value of the property you’re buying. But there is no guarantee that the price you pay will reflect the market value of the property when it’s completed. Do your homework about the area you are buying in. Consider other developments in the area and the number of new properties that will be coming on to the market at the same time as yours. Oversupply could reduce the value of your property investment so check with the council to see what other developments are underway, talk to local real estate agents and seek professional advice. ## Research the developer and builder An experienced developer with a good reputation is always a wise place to start. Ask to see some of the other projects the developer has completed and talk to the property owners if possible. Visit the company website and learn what you can about the developer’s business. Once satisfied about the reputation of the developer, ask for the license number of the builder that will be used to build the property. You can then run a check on local government websites to make sure the builder is qualified to complete the project and has no outstanding disciplinary actions or prosecutions against his business name. ## Understand the terms of the contract When you buy off the plan, you are buying a property that does not yet exist and may take as long as two years to complete. In an off the plan contract, you are provided with plans and specifications of what the developer intends to build and construct as the finished product. The contract should provide highly detailed plans that include specifications for every item involved, from a floor plan layout with measurements in millimetres, to specifications for the fixtures and fittings, right down to the name and model number of the appliances that will be installed in the kitchen. Also make sure your contract includes specifications for all common areas, lifts, gardens and car parking and specifies additional costs like annual strata fees. Off the plan contracts must also include a ‘sunset clause’ which defines the amount of time the developer has to complete the project. Make sure the time allowed is realistic, an 18 month sunset clause is common, so you should be wary of longer timeframes. It’s important that the words of the contract match your understanding about what you will be getting for your money. Before signing or leaving your deposit, go over it with a legal professional who understands property law. ## Choose your property investment wisely Buying off the plan gives you more opportunity to get the property you want because you get to choose from a variety of properties on the plan. Make sure you choose a property with a good aspect and check local building approvals to make sure your view won’t get built out by another development. When buying off the plan, the right choice of property can make your purchase worth more than the others in the same development whilst actually costing the same amount. This maximises its potential for capital growth. ## Arrange your finance first With up to two years between placing your deposit and settlement, it may be tempting to postpone organising the finance until after you’ve signed the contract, but this could result in you losing your deposit if finance cannot be arranged. Many lenders provide long-term loan approvals for off the plan purchases. Speak with your [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/ "What does a mortgage broker do and 8 reasons why you should use one") who can assist you in organising finance for off the plan purchases or your other property investment mortgages, to make sure you’ll always come out on top! ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-tips-to-help-you-understand-an-off-the-plan-property-investment/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-tips-to-help-you-understand-an-off-the-plan-property-investment/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-tips-to-help-you-understand-an-off-the-plan-property-investment/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-tips-to-help-you-understand-an-off-the-plan-property-investment/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-tips-to-help-you-understand-an-off-the-plan-property-investment/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-tips-to-help-you-understand-an-off-the-plan-property-investment/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20tips%20to%20help%20you%20understand%20an%20off%20the%20plan%20property%20investment&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-tips-to-help-you-understand-an-off-the-plan-property-investment%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-tips-to-help-you-understand-an-off-the-plan-property-investment/#print?share=print) - **Categories:** Investing **Tags:** investment property, investors, property investing, property investment --- ### [Spring investment property form guide - our 5 top picks](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/) **Published:** September 8, 2014 **Author:** Brad Kirwan **Content:** Traditionally the busiest time of the year for both horse racing and real estate, the spring **investment property** season is just around the corner. If you’re looking to make a foray into the market, our form guide to property will have you buying both confidently and successfully. ## Refine your top tips Before you bolt out of your front gate, make sure you’ve thoroughly considered exactly what you’re looking for. Define the property you’re after and make a list of features, broken down into negotiables and non-negotiables. This will help you find what kind of properties to look at and the ones you needn’t bother with. This list doesn’t have to be set in stone; in fact it’s likely to change once you’ve put in some time on the house hunting trail. Once you’re more familiar with the market you’ll probably find you need to – or are able to – adjust your expectations. ## Size up the investment property market To make sure you’re backing a winner – and getting the best value – you’ve got to research extensively. Ensure you’re across all the investment property magazines and websites for general property purchase tips and strategies and then do as much investigation into the market/markets you’re exploring as possible. Talk to local real estate agents and local residents and read as much about the local area as you can. The more you know, the more well-informed a purchase you’ll be able to make. ## Hunt like a pro To make the most of your time and find the right property as quickly as possible, take a serious approach to your property pursuit. Plan your Saturdays thoroughly and set up a system for documenting the properties you’ve seen, the agents you’ve met and the sale prices of the properties you’ve been watching. ## Get in front with a pre-approval There’s nothing worse than finding the right property only to miss out because you haven’t got your finances in order. Before you do anything this buying season, speak to us about your borrowing options and to get your pre-approval organised. Having a pre-approval also gives you a clear idea of your price range, so you don’t waste time looking at properties you can’t afford. ## Don’t jump the gun The weather might be warming up but when it comes to taking out gold in the property stakes, it pays to keep a cool head. Avoid getting caught up in the excitement of [auctions](https://www.oceanhomeloans.com.au/buying-at-auction-for-first-time-buyers/ "Buying at Auction for First Time Buyers") and sales spiels and think any decisions through carefully before signing on the dotted line of your newly purchased investment property. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Spring%20investment%20property%20form%20guide%20-%20our%205%20top%20picks&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fspring-investment-property-form-guide-our-5-top-picks%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/#print?share=print) - **Categories:** Investing **Tags:** investment property, investors, pre approval, rental property --- ### [5 steps to starting an investment property portfolio](https://www.oceanhomeloans.com.au/5-steps-to-starting-an-investment-property-portfolio/) **Published:** September 10, 2014 **Author:** Brad Kirwan **Content:** You’ve decided that **investment property** is going to be your pathway to wealth and this could be for many reasons, retirement income from the rent, capital gains on your property portfolio or maybe you prefer to rent in the suburb of your choice and own properties elsewhere. No matter what inspires you to invest in property, you need to start somewhere, so before plunging headlong into the property market take a step back and consider these initial steps for planning your life in the property market. ## What is your investment property destination Be clear about what you want to achieve, and in what time-frames. Before you buy an investment property you should decide on your earning targets: will this be a negatively or positively geared investment? Will you invest in renovations to increase your rental return? Get your mortgage broker to arrange for a pre-approval of your investment loan, so you know how much you’re able to borrow before you start hunting for properties. ## Don’t undervalue the costs Write detailed plans about what you have to spend, how much you will have to borrow, and what the borrowings will cost. Before investing in property it’s vital to have a thorough understanding of your cash flow. Make sure you budget enough for renovating, repairs and maintenance as well as the estimated costs of management, insurance and rates, then calculate the rental income. And when you have purchased your ideal investment property do what you can to prevent costly maintenance issues arising, such as replace ageing taps. ## Put in the hard yards Burn some shoe leather before you buy a property. Go to real estate agencies in the area and pick up their ‘for rent’ sheets. See what rents are being asked for what kind of properties. Ask agents what properties they would like to manage. Go to some open days. Get a sense of which agents are up to scratch. ## In depth analysis Forewarned is forearmed, it cannot be stressed how important your research is before you commit, like with any other investment. Investigate the area you’re considering buying in, and whether there are a good range of amenities nearby like schools and shopping centres. You should also get professional advice on property values, recent sales and the growth outlook for the area. ## Get loan advice Loans for an investment property are different to regular home loans in terms of the options you have and the application criteria. For instance, you may be able to make interest-only repayments for some of the loan term, and get the rental income the property generates taken into account for the potential to borrow more. Get your [mortgage broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/ "6 Reasons why you should use a Mortgage Broker") to provide quotes from at least 3 different lenders. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-steps-to-starting-an-investment-property-portfolio/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-steps-to-starting-an-investment-property-portfolio/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-steps-to-starting-an-investment-property-portfolio/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-steps-to-starting-an-investment-property-portfolio/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-steps-to-starting-an-investment-property-portfolio/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-steps-to-starting-an-investment-property-portfolio/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20steps%20to%20starting%20an%20investment%20property%20portfolio&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-steps-to-starting-an-investment-property-portfolio%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-steps-to-starting-an-investment-property-portfolio/#print?share=print) - **Categories:** Investing **Tags:** interest only repayments, investment property, negative gearing, rental property --- ### [Do you know which home loan is right for you](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/) **Published:** September 26, 2014 **Author:** Brad Kirwan **Content:** There are literally thousands of different loans on offer in today’s mortgage market, but how do you know which type of **home loan** is the right choice for you? The following list provides some detail of the most commonly used loan products. ## Basic home loan These are your standard ‘no frills’ mortgages. They generally offer low interest rates and low ongoing fees – perfect for the first time buyer. If you are looking for a loan that boasts a range of extras, this is not the one for you. A basic home loan package offers less flexibility, few features and can restrict the borrower from making additional repayments. ## Standard variable rate These loans offer something for nearly everyone. While they will have a higher interest rate than a basic home loan package, standard variable rate mortgages offer greater flexibility, plus a raft of optional extras, including split loan features and redraw facilities. But remember, rates go up as well as down. Your repayments may change with any interest rate adjustments, like last week’s rate cut. ## Fixed rate If you’re looking for certainty in your mortgage repayments, then a fixed rate home loan is probably right for you. The main goal is to lock in the cheapest rate possible, so timing is everything. Be sure to shop around and keep a keen eye on interest rate movements. This type of loan offers very few features and little flexibility. In fact, borrowers can expect hefty fines for breaking the loan term. ## Interest only Low repayments make this loan a favourite with investors. As the name suggests, interest-only loans focus solely on the interest component of the loan, keeping repayments low during its life. These loans tend to have a shorter term – of two to five years – with the principal paid in full at the end of this period. ## Line of credit If you’re looking for a loan that gives you considerable flexibility with your repayments and the ability to draw down additional funds, you might want to consider a line of credit. Each month, borrowers can pay as little or as much as they want towards the principal – as long as they meet their interest repayments. As a line of credit borrower, your loan is usually linked with a credit card with an interest-free period. This allows borrowers to access funds if and when they need. However, you need to be disciplined with your finances or you may end up adding years to your loan. ## Lo doc Perfect for self-employed professionals, lo-doc loans provide finance for borrowers unable to provide the documentation usually needed. Most lenders require lo-doc borrowers to take out lender’s mortgage insurance for loans of up to 80 per cent of the property’s value. These loans may well also carry a higher interest rate than that of the basic loan. As you can see, choosing the right mortgage can be a challenge – but that’s where your [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/ "Mortgage Broker or Bank Lending Manager – Who would you use?") has the edge, they have access to thousands of home loan products and can tailor a loan to your own personal goals and objectives, helping you achieve your property dreams earlier. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Do%20you%20know%20which%20home%20loan%20is%20right%20for%20you&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fdo-you-know-which-home-loan-is-right-for-you%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, investors, low doc mortgage, mortgage broker --- ### [Property market underpins the Australian economy](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/) **Published:** September 12, 2014 **Author:** Brad Kirwan **Content:** This year has certainly proven that Australians’ love affair with property runs deep. While buying and selling activity has dropped off somewhat in the cooler months, all indications are that the **property market** across much of the nation has remained relatively strong. For the first time in 12 months, dwelling values across the country’s capital cities showed a slight softening, dropping 1.9 per cent in May, according to the RP Data-Rismark Home Value Index. It attributed the softening to seasonal factors and more moderate market activity. “The month-on-month fall in capital city dwelling values is likely due in part to seasonal phenomenon, but may also be indicative of a broader trend towards cooler housing market conditions,” said RP Data Research Director Tim Lawless. Mr Lawless added that ‘the softening may have been an early indication that the market could be at or near the peak of a growth cycle’. However, a report published by research house BIS Shrapnel predicts that momentum in property price growth will continue across the capital cities into 2014/15. According to the company’s Residential Property Prospects, 2014 to 2017 report, tight markets and low interest rates have been the catalyst for the strength in the Sydney, Melbourne, Perth and Darwin markets over the past 12 months, as well as an emerging upturn in Brisbane. In the other capital cities, low interest rates have helped to support stronger purchaser activity, if not stronger price growth. BIS Shrapnel Senior Manager and author of the report, Angie Zigomanis, said that although prices have been rising in many capital cities, affordability remains sufficiently attractive to maintain further price growth for now. ## Property market performance The notable performance of the property market is in contrast to relatively subdued broader economic conditions. Although the National Accounts showed Australia’s economy grew by a better-than-expected 1.1 per cent in the March quarter, expectations are that economic growth will remain below trend throughout the remainder of the year. The subdued state of the economy is largely the result of Australia’s adjustment to the slowdown in the mining and resources sector. As this slowdown continues, new home sales and exports are expected to help drive the economy forward. As we move into spring, interest rates remain exceptionally low and unlikely to climb too far upwards any time soon. In its monetary policy statement in July, the Reserve Bank of Australia Governor Glenn Stevens said monetary policy is appropriately configured and that the most prudent course ahead is likely to be a period of stability in interest rates. If you feel now is the time to break into or expand your presence in the property market contacting your [mortgage broker](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/ "A mortgage broker will help you find the mortgage that suits you best") could well prove a very smart move. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Property%20market%20underpins%20the%20Australian%20economy&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproperty-market-underpins-the-australian-economy%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/#print?share=print) - **Categories:** Property **Tags:** interest rates, mortgage broker, property investment, property market --- ### [Taking the stress out of the first home buyer experience](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/) **Published:** September 15, 2014 **Author:** Brad Kirwan **Content:** Being a **first home buyer** can at times feel like one to many mountains to climb, following these tips will help take some of the stress out of the buying process and help you secure your first home. ## You’ll need a deposit To obtain the cheapest rate with the lowest entry costs then a deposit of 20 per cent of the property’s value is required. There are however many lenders who will approve a loan with only a 5 per cent deposit. Keep in mind that the larger the deposit the less you will have to borrow. This could save you thousands of dollars in interest over the life of the loan. ## Don’t forget these costs Unfortunately, there are some costs you may not have expected. First off, lender’s mortgage insurance (‘LMI’) will almost certainly be charged to buyers looking to borrow more than 80 per cent of the total value of the home. It can be paid as a one-off premium or added to the value of the loan. It protects the lender if you default on your mortgage. Second, loan application fees. These are a one-off payment that covers the costs of establishing the loan. Finally, you will need legal advice before exchanging contracts with the vendor and when finalising your purchase. Whether you hire a solicitor or conveyancer is up to you, but check that they are right for you before you sign them up. These are just some of the costs involved. Others include government stamp duty – which can run to several thousand dollars – transfer fees and building and pest inspection charges. Figuring out what costs you will and won’t be liable for should definitely not be left until the last-minute! ## Are there special first home buyer loans? There are literally hundreds of loans available in today’s market for the first home buyer, but two of the most common are fixed and variable interest rate loans. To put it simply, a fixed rate loan has an interest rate set for an agreed period of time and is therefore not subject to rate changes. Variable rate loans may have rates go up or down depending on broader interest rate movements. Both have their advantages and disadvantages so be sure to ask us plenty of questions prior to making your decision. Don’t forget, being a first home buyer is (meant to be) exciting! It may not always be fun, running around every weekend for house inspections, so don’t forget your [mortgage broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/ "6 Reasons why you should use a Mortgage Broker") is always available to help on borrowing options and the buying process. It’s a huge step, so enjoy it! ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Taking%20the%20stress%20out%20of%20the%20first%20home%20buyer%20experience&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftaking-the-stress-out-of-the-first-home-buyer-experience%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/#print?share=print) - **Categories:** Mortgage **Tags:** first home buyer, first home buyers, home loan, mortgage broker --- ### [What does a mortgage broker do and 8 reasons why you should use one](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/) **Published:** September 17, 2014 **Author:** Brad Kirwan **Content:** A mortgage broker doesn’t physically lend you money, the role of a broker is to aid borrowers in finding an appropriate loan, based on the borrowers specific requirements. Brokers have a panel of lenders from which they recommend a loan. They have to become accredited with the lender to offer their products, and are required to keep up-to-date with their latest offers. The loan you choose from a broker is the same loan a bank, building society, non-bank or credit union would offer you the borrower, directly. Most brokers don’t charge fees for residential loans, the lender pays a commission, and this does not affect the type of loan or the interest rate you receive. ## A Mortgage broker must have To be able to give credit assistance a broker must: - Hold an Australian Credit Licence or be an appointed Credit Representative of an Australian Credit Licence Holder. - Hold a Diploma of Financial Services (Finance/Mortgage Broking Management). - Achieve 30 hours per year of Continuing Professional Development (CPD). - Hold Professional Indemnity Insurance. - Maintain an Internal Dispute Resolution procedure & register. - Hold External Dispute Resolution membership. - Hold Industry Body membership. - Fully disclose all commissions. So now you know what a mortgage broker is, the following are 8 great reasons why using a broker for your next home loan may well be the smartest move to take. **Save you time** The choices available in the mortgage market can seem limitless and completely overwhelming. You can choose to research the subject, the lenders and their products yourself, or work with a broker, who already has that knowledge. **Save you money** Only use a broker that offers a free service, comparing hundreds of different home loans from various lenders, making it easier to find if there is a better home loan for you. All you have to do is ask your broker. **Give you choice** A good mortgage broker has a panel of over 30 Lenders and over 600 different loan types from which to choose. **Find the right loan** The best deal is not necessarily the cheapest rate. Your broker will look at your circumstances and future plans in-depth, this enables them to recommend a loan that is right for you. Having an appropriate loan which works for you can help you build wealth. **Help you avoid pitfalls** Many products seem to offer a great deal but they could have penalties, fees and charges you aren’t aware of. Or, they may not offer the flexibility you need in the future. Your broker can help you avoid taking out a loan you might later regret. **They come to you** Brokers come to you, appointments are conducted in the comfort of your own home, or your office, at a time that suits you, days, evenings or weekends. **Do all the leg work** Your broker will prepare your application, submit your application and work with the lender throughout the process up to settlement. **And after settlement** This is where it all counts, your **mortgage broker** should continue their service after settlement of your loan with regular updates and reviews of your circumstances, your aims and goals can change and your loan needs may also change. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20does%20a%20mortgage%20broker%20do%20and%208%20reasons%20why%20you%20should%20use%20one&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, home loan, mortgage broker --- ### [The 8 steps to buying an investment property](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/) **Published:** September 19, 2014 **Author:** Brad Kirwan **Content:** Purchasing your first investment property can be a daunting prospect, following these 8 steps will have you well on the road to success. ## Build a team of experts to support you Examples of the type of expert that you will need to have on your team are solicitors, accountants, finance brokers, property coaches/mentors, property managers, valuers, quantity surveyors and insurance brokers. ## Establish your borrowing position Contact your mortgage broker and ask them for an assessment of your borrowing position. Knowing your borrowing position and what you can do to improve it helps you to plan and work out the type, number and profile of the properties that you can afford to buy. ## Establish the right entity to buy your property in The question you will next face is what entity you should purchase the investment property in. Should it be in your own name, your spouse’s, child’s or partner’s name? Or should it be in a trust (hybrid, discretionary or unit trust), a company or a combination of the above? Also, how many properties should you purchase in the one entity and why? How should you structure the purchase to provide maximum asset protection while at the same time providing you with maximum leverage, minimum tax and the best return on your investment? ## Establish the right buying strategy What kind of property should you buy? Should it be a capital growth (negatively geared), cash flow neutral, positively geared or a cash flow positive property? What kind of return do you need to get from the property in order to sustain it and/or your lifestyle? ## Establish your buying rules Buying rules will help you focus your search on properties that fit your buying strategy… Typical questions that you should ask yourself when establishing your buying rules are: What kind of properties should you purchase – houses, units, townhouses or apartments? How many bedrooms should it have? What yield should the investment property provide? Should you buy new or established properties? ## Find the investment property The first step is to select three areas of buying interest that relate to your strategy (i.e. cash flow or capital growth). Use the many internet property websites available as a means of finding properties in your search areas and then apply the buying rules that you have established to zero in on the right property. Contact three [property managers](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/ "8 Questions you must ask your Investment Property Manager") in your search area and ask them what tenants are looking for when looking for a rental property. You could also contact three real estate agents in your search area, give them an overview of your buying rules and then ask them to contact you with any properties that match your property profile. ## Crunch the numbers Before you “fall in love” with the property make sure the deal is viable, make sure you analyse the property financials to make sure the property fits your buying strategy. ## Negotiate the price When you have found the **investment property** that you want to buy and the numbers work for you, put in an offer in writing, this should be done quickly. Add “subject to” clauses such as subject to finance, subject to satisfactory building inspection, give yourself plenty of time in the contract “subject to” clauses to compete your due diligence investigations. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%208%20steps%20to%20buying%20an%20investment%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-8-steps-to-buying-an-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/#print?share=print) - **Categories:** Property **Tags:** investment property, mortgage broker, property investors, rental property --- ### [How using equity can get you started in property investing](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/) **Published:** September 22, 2014 **Author:** Brad Kirwan **Content:** Property investing is a popular strategy to create wealth. In the current market, this could be a great wealth creating strategy. Depending on how much of the mortgage has been paid off and the capital growth of the property, most households are sitting on untapped wealth by way of equity. Accessing this equity for property investing is a feasible proposition. A qualified mortgage professional will be able to aid in working out the financial affordability of the project. When purchasing an investment property by using equity in the home, the owners will have to meet the lending criteria of the banks. These are: The level of property investing equity available – the difference between the value of the property and the current home loan. The capacity to service the two loans. This is calculated by taking into account the household income, including the anticipated rental from the investment property, less all household liabilities. The different ways of accessing the equity is dependent on the circumstances and the future investment strategies of the borrowers. ## Cross-collateralized property investing This simply means using the available equity in the home as a deposit for the purchase of the investment property. The home loan remains the same and a new loan set up for the investment property. ## Equity Release as a Lump Sum The home mortgage is increased by the amount required to fund the purchase of the investment. This enables the two properties to be independent of each other and can even be with different lenders. ## Line of Credit Equity Release A line of credit facility with an upper limit can be set up to be used as and when required by the borrower. This may be for the purchase of one investment property or more. This method gives the borrower flexibility in handling their property investment strategy. It is important to remember that **property investing** carries a certain amount of risk. Therefore, before taking any irrevocable steps it is necessary to establish the affordability of the higher repayments. Getting professional advice from financial planners, tax accountants and [mortgage brokers](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/ "What does a mortgage broker do and 8 reasons why you should use one") can help minimise the risk and exposure and aid in the wealth creation strategy. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20using%20equity%20can%20get%20you%20started%20in%20property%20investing&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-using-equity-can-get-you-started-in-property-investing%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, equity, property investing, rental property --- ### [Keeping your credit history clean](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/) **Published:** October 3, 2014 **Author:** Brad Kirwan **Content:** With the new credit reporting legislation fully implemented, now is the time to make sure your **credit history** is as clean as can be. With credit providers now collecting and recording further information about your credit conduct, one small slip-up could mean the difference between the dream of home ownership and having to continue to rent for the forseeable future. Repayment history information is designed to give credit providers enough information about you to assess whether or not you can afford to take on more debt, and how much you can afford to repay. It includes information about whether you make your payments on time or whether you have missed a payment, so it can include both positive and negative information about you. Previously, lenders were only able to access negative information like major credit infringements, bankruptcy situations and declined applications for credit. Now lenders will be able to see all this plus account information for a variety of repayments including mortgages, personal loans, credit cards, utilities and more. They will be able to access actual account information like the dates accounts were opened and closed, credit limits, type of credit account and 24 months [repayment history](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/ "Credit Report – Changes on the Way") on all your credit accounts. ## Be protective about your credit history rating The new data allowed under comprehensive credit reporting will give lenders access to your data as far back as March 2012. This may not appear on your credit report immediately, and not all credit defaults will appear because consumer credit defaults of less than $150 may be removed or omitted from your report entirely. Nevertheless, under the new system it’s important that you pay your bills on time. To avoid accumulating a lot of minor defaults that can add up to make you appear as if you are under financial stress, you can pay the minimum amounts on your credit cards, loans and regular bills via auto-pay or direct debit to avoid being late. Always make sure your name is removed from utility bills when moving house or vacating share accommodation. And take extra measures to protect your personal information to avoid minor fraud situations and identity theft. Remember, under the new system good credit behaviour will be taken into consideration and may make it easier for you to obtain a loan when you need one so paying your bills on time will be in your best interests. ## Shopping around can damage your credit file Some people shop around for credit and submit applications to several lenders and credit providers to see who will offer the best deal. Under the new credit reporting regulations, this may not be a good idea as each time you make an application, it is recorded on your credit report and may give a credit provider the impression that you’re under financial stress when you are not. That means being rejected for credit could prove to be a black spot on your credit report. So to protect your credit history, you should only submit a credit application once you have made your choice of loan or credit product and done your best to make sure that you will be eligible for approval. This is where the services of a [mortgage broker](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/ "A mortgage broker will help you find the mortgage that suits you best") come to the fore, your mortgage broker will only submit a credit application on your behalf once they have helped you thoroughly assess your personal financial situation and helped you to select the right loan product for your needs. They will do all the legwork, shopping around for the best deal from a variety of different lenders and only submit your application to the one you finally select. They will also help you assess your eligibility and capacity to comfortably make repayments on any loan that you apply for, considering your other repayment commitments. For more information about keeping your credit history in prime condition or how yours might affect your application for a mortgage or loan, speak with your mortgage broker today! ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Keeping%20your%20credit%20history%20clean&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fkeeping-your-credit-history-clean%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/#print?share=print) - **Categories:** Credit History **Tags:** credit history, credit report, home loan, mortgage, mortgage broker --- ### [RBA holds interest rates in October](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/) **Published:** October 7, 2014 **Author:** Brad Kirwan **Content:** Interest rates will remain steady at 2.5 per cent for the month of October, great news for current mortgage holders. However, a tightening of rates in the near future is possible with the RBA weighing into the debate on house price inflation. The RBA recently introduced ‘macroprudential tools’, including stricter testing of borrowers’ ability to withstand rate rises as a way of reducing the build-up of investor and owner-occupier risk from rapidly rising house prices. ## Super low interest rates “Super-low rates are fuelling strong demand for homes. So the leaning has to be in favour of higher, not lower, interest rates ahead,” said Commsec chief economist James Craig. Although a rise in the near future is likely, Mr Craig said it won’t happen for months to come “Inflation is contained and looks set to stay in the 2-to-3 per cent target band for some time. As a result, interest rate settings don’t need to budge,” he said. The Australian dollar was at a four-year low on Monday at US86.75 cents. Citi forecasts the Australian dollar will be around US86 cents by December and at US85 cents in March next year. The low dollar is good news for domestic retailers, with consumers more likely to shop locally rather than purchasing imported products at a higher product and shipping cost. This also has a positive effect on our tourism industry. A fall in the Australian dollar will encourage people to spend more on local tourism services, boosting the economy. If you’ve thought about downsizing, upsizing or investing, with **interest rates** remaining steady perhaps now is the time to look at your options. As always, we’re here to share our expertise with you, so give us an obligation-free call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20holds%20interest%20rates%20in%20October&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-holds-interest-rates-in-october%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/#print?share=print) - **Categories:** Interest Rates **Tags:** home loan refinance, interest rates, mortgage broker, mortgage repayments, variable interest rates --- ### [5 tips for a smoother home loan application](https://www.oceanhomeloans.com.au/5-tips-for-a-smoother-home-loan-application/) **Published:** October 8, 2014 **Author:** Brad Kirwan **Content:** A **home loan** is the biggest financial commitment the majority of people will ever make during their lifetime. Such a commitment requires careful and thorough planning, but with the right resources and proper preparation, you shouldn’t need to worry. Here are a few tips to simplify the home loan application process. ## Get your credit report in order Before anything, you will need to make sure that your finances are in order. Sit down and assess your [credit report](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/ "Credit Report – Changes on the Way") – this includes your personal history of all your credit accounts (cards, loans, mobile phone plans etc.), and all their associated repayment histories. These are the first things that your lender will be looking at when you apply for a home loan. ## Dispute any mistakes in your credit file Misinformation and discrepancies will hurt your credit score and may cause your application to be denied, so consider speaking to a credit professional to help you dispute these issues. ## If it’s late, pay it off Mortgage lenders will be assessing your ability to pay off debts on time. So, if you have anything outstanding, pay them off as soon as you can. If for any reason you have recently made a late payment or have or have caught up on any overdue accounts, it is probably a wise idea to wait at least 6 months before applying for a mortgage. ## Keep your documents When applying for a home loan, the more information you can provide, the better your chances of having your mortgage approved. Buy a handy file to store all your documents including: - Statements of all previous loans and credit cards - Payslips – last 2 at least - Tax returns - PAYG summaries - Most recent personal bank statement - Anything else you think is relevant ## Home loan deposit size Lenders always give preference to those who put down larger deposits. Generally, they consider loans for 80% of the property value to be ‘safe’. Keep in mind that they may be willing to stray from their normal lending policy, if you are willing to put down a large deposit. [Borrowing less than 80%](https://www.oceanhomeloans.com.au/why-size-matters/ "It’s Not How Big Your Mortgage is – Borrowing Smart") also means you can also be exempted from the Lenders Mortgage Insurance (a one-off fee that can be quite strict when assessing your mortgage). If you’d like to find out more about how to prepare for your home loan application, feel free to drop us a line. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-tips-for-a-smoother-home-loan-application/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-tips-for-a-smoother-home-loan-application/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-tips-for-a-smoother-home-loan-application/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-tips-for-a-smoother-home-loan-application/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-tips-for-a-smoother-home-loan-application/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-tips-for-a-smoother-home-loan-application/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20tips%20for%20a%20smoother%20home%20loan%20application&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-tips-for-a-smoother-home-loan-application%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-tips-for-a-smoother-home-loan-application/#print?share=print) - **Categories:** Loans **Tags:** credit report, home loan, mortgage, mortgage broker --- ### [The simple mistakes to avoid when starting out in property investment](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/) **Published:** October 10, 2014 **Author:** Brad Kirwan **Content:** Becoming successful in **property investment** doesn’t just happen overnight, it takes a great deal of research, and one of the best ways to avoid those early pitfalls is to learn from the mistakes others have made before. This a great way to kick-start your property investing journey and get a jump on the competition. Here are some simple mistakes to avoid. ## Procrastinating ‘Too busy’, ‘too risky’ or ‘not the right time in the property cycle’ are common excuses for not taking action, but in reality there may never be a perfect time. Live by the slogan ‘never put off tomorrow what you can do today’. ## Lazy property investment research Look at multiple properties and do financial analysis on many properties before committing to buy. Remember the real estate agent is there to sell the property so although they can be a good source of information, don’t rely on their word alone. ## Leave emotion at the front door Don’t picture yourself living in the property; instead keep your thoughts focused on the big picture: ‘can I sell this property at a higher price?’; ‘will this property be popular with tenants?’ ## Pushing your finances to the limit You are investing to improve your life, not to end up with a mortgage that is too high. Circumstances change and your finances need to be ready to deal with an unexpected blow like losing your job, a period of rental vacancy or a rate increase. ## Insufficient insurance Landlord’s insurance can cover you for not only damage to buildings and contents, but also for rental default and damage by tenants. Make sure you read the fine print because cover and service can vary significantly between policies. This also applies to [income protection](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/ "Have you Protected your Family by Insuring your Mortgage Repayments?") insurance should you be unable to work due to illness, how would you pay the mortgage on your own home, let alone your investment property, being under-insured or having no insurance at all is one of the greatest causes financial distress. ## Using savings not equity Using the equity in your home to for property investment reduces your reliance on savings. Equity is the difference between your home’s market value and the balance of your home loan. Typically lenders will allow you to access up to 80 per cent of this equity and use it as a source of credit on your mortgage. ## Wrong loan structure Purchasing the property with a principal and interest loan similar to purchasing an owner occupier home. The interest component of the loan is the only part of a home loan that is deductible for tax purposes and the amount of money you spend on paying off the principal limits your cash flow to purchase additional properties. This is why investors prefer interest only loans, discussing your current finance arrangements and your future plans with your mortgage broker, who will advise you of the correct investment property loan structures, is essential to getting your property investment portfolio off to a flying start. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20simple%20mistakes%20to%20avoid%20when%20starting%20out%20in%20property%20investment&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-simple-mistakes-to-aviod-when-starting-out-in-property-investment%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, equity, property investing, property investment, rental property --- ### [Benefits of bulding a new home with a construction loan](https://www.oceanhomeloans.com.au/benefits-of-bulding-new-with-a-construction-loan/) **Published:** October 13, 2014 **Author:** Brad Kirwan **Content:** Whether it is your first home, upgrade or for investment purposes, taking out a construction loan to build has a feeling unlike anything else in property ownership. Therefore it’s not hard to understand why buying a newly built home or investment property is a popular purchasing choice for many Australians. One of the most attractive aspects of buying new is that it often requires fewer upfront costs. Many unforeseen costs, maintenance fees or repair bills, can quickly eat into the money you aim to save by purchasing an existing dwelling. Moreover, newly built properties traditionally carry a warranty of several years so if you do happen to run into teething issues with your new home, the warranty can help. If you are in the market for an investment property, a new home can certainly be a wise choice. ## New construction loan benefits for investors Not only will the new look and design appeal to potential tenants, contemporary building standards can mean a greener, more energy efficient property. Also keep in mind that new utilities and appliances, such as bathroom, kitchens and heating can be a huge draw card for tenants and should be considered when you come to negotiate the weekly rent. Finally, don’t overlook the [depreciation](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/ "Owning an Investment Property – The Tax Advantages") and taxation benefits associated with a construction loan for an investment property as well as the government incentives that can come with purchasing a new home to live in. Benefits are often at their greatest when a property is brand new. For example, government bonus schemes such as the [QLD Great Start Grant](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/ "What are the latest First Home Owner Grant Schemes?") provides eligible first home buyers with $15,000 towards the cost of the construction, there are also stamp duty concessions for the purchase of the land. ## Things to consider There are many advantages to buying a new property over an existing dwelling, but as with all property-related decisions, caution is necessary. To minimise risks, consider the following before making a purchase: Capital growth is NOT guaranteed, whether you purchase a new or an older property. Research is essential, be absolutely certain to do your homework on the [property market](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/ "Rental Return or Capital Growth – What is your Investment Property Strategy") and purchase in an area that is more likely to offer growth potential. Know who you’re dealing with, unfortunately, there are several stories of developers who go bust during a development or turn out not to be professional operators. Take note of the developer’s history and speak to family and friends about developers they have used in the past. New and older properties both have their pros and cons and whether a new property is right for you is ultimately down to your specific situation. If you’re not sure, getting professional advice would be a good next move. If a new **construction loan** does fit your financial and investment strategy, however, the benefits should be considerable. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/benefits-of-bulding-new-with-a-construction-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/benefits-of-bulding-new-with-a-construction-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/benefits-of-bulding-new-with-a-construction-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/benefits-of-bulding-new-with-a-construction-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/benefits-of-bulding-new-with-a-construction-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/benefits-of-bulding-new-with-a-construction-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Benefits%20of%20bulding%20a%20new%20home%20with%20a%20construction%20loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fbenefits-of-bulding-new-with-a-construction-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/benefits-of-bulding-new-with-a-construction-loan/#print?share=print) - **Categories:** Construction **Tags:** construction loan, first home buyers, first home owner grant, property investing --- ### [The 4 musts of protecting your investment property portfolio](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/) **Published:** October 15, 2014 **Author:** Brad Kirwan **Content:** Taking a risk to get that **investment property** for your portfolio is one thing but failing to protect your investment is tantamount to financial suicide, by following a few simple rules you can protect not only your investment but also yourself and your families financial future. ## Property inspections If you’re buying a place to rent to others, basic things must be in working order that you might let slide if you lived there yourself. Always have a [full property inspection](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/ "Why you Should Pay for a Pre-Purchase Property Inspection?") done by a qualified expert. ## Investment property insurance Landlord insurance is essential and you should contact a broker if you are unsure about what is included or excluded in the policy. Renting property is a business and some of the features of landlord insurance may not be familiar. Getting this wrong is not an option. ## Personal insurance When it comes to taking out a mortgage you may wish to consider whether it is appropriate to take out mortgage protection insurance, illness, accident, or total or permanent disability insurance, to cover you if anything goes wrong, particularly when first starting out in property investing and your property has a negative cash flow. ## Find a quality property manager Renting out your investment property as soon as possible once you’ve purchased it, will maximise the return you get with rental income and assist you to pay your mortgage. Doing this through a [property manager](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/ "8 Questions you must ask your Investment Property Manager") will be at a cost, but it is the easiest way to go, as they will market the property, reference check tenants for you, and advise you on appropriate rental prices for your area. An investment property is an excellent way to build wealth, but it should be approached like a business. Have a target, formulate a plan, never underestimate the costs and work closely with your mortgage broker and accountant. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%204%20musts%20of%20protecting%20your%20investment%20property%20portfolio&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-4-musts-of-protecting-your-investment-property-portfolio%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/#print?share=print) - **Categories:** Investing **Tags:** insurance, investment property, property inspections, property investors, rental property --- ### [Can I get a home loan with bad credit history](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/) **Published:** October 20, 2014 **Author:** Brad Kirwan **Content:** These loans are generally for borrowers who may have an adverse credit history, existing **home loan** arrears, credit card or personal loan arrears or defaults, too many debts and are finding it difficult to consolidate or have been declined by another lender. Lenders are wary of those who do not pay their defaults or those who keep having ongoing credit problems. ## What is bad credit history? Your bad credit history will place you in one or more of the following categories: Small paid default: If you have a small default for less than $500 and it has been paid more than six months ago then you borrow up to 90% and in some cases 95% LVR (of the property value). More than one small paid default: If you have less than $1,000 in paid defaults from financial institutions (e.g. banks) and less than $500 in paid defaults from non-financial institutions (e.g. phone companies) then you can borrow up to 85% or possibly 90% of the property value. Moderate paid defaults: If you have up to $3,000 in paid defaults you can borrow up to 80% of the property value with a prime lender, up to 90% of the property value with a specialist lender or up to 100% of the property value if you have a [security guarantee from your parents](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/ "Loan Product Focus – Family Pledge Loan"). Large paid defaults: Larger paid defaults from $3,000 to $500,000 can be considered on a case by case basis if you have a very good explanation which supported with strong evidence. You can borrow up to 90% of the property value with a specialist lender. Unpaid defaults: If you have any unpaid defaults then you can only borrow 90% of the property value, this is with a specialist lender. You will be required to pay the defaults before the loan is approved for purchases or from the loan when refinancing. Judgements or court writs: If you have any judgements or court writs then you can borrow 90% of the property value, this is again, with a specialist lender. Part IX agreement: You can refinance your current mortgage to pay out your agreement. You must be in the agreement for a minimum of 12 months and your repayments for the agreement & existing mortgage must be perfect. Bankruptcy: You must be discharged, then you can borrow 90% of the property value, this is again, with a specialist lender. Bad credit history home loans are generally for people who have had unfortunate events such as a divorce, loss of job, injury or business failure which has resulted in adverse entries on their credit file, in most cases there is a compelling reason about why you have defaulted. ## How do specialist lenders work? Specialist lenders are far more flexible than the major banks. The interest rates that are offered reflect the risk to the lender. Therefore, the higher the risk that your loan presents to the lender then the higher the interest rate you will be charged. Specialist lenders will assess your bad credit history home loan application on a case by case basis and listen to your explanation about how you arrived in this situation and why you need debt relief. These lenders can often rapidly approve your application to meet deadlines from your creditors. Generally if you are borrowing below 80% of the property value then you can get a cheaper interest rate, for those looking to borrow over 80% or have had severely impaired credit histories, then the rate will be higher. ## Solution focused home loan lending The idea of home loans for people with bad credit history is to be a short to medium term fix, not a long-term solution such as a second mortgage. It is often much cheaper to pay a higher interest rate for a few years than it is to sell your home and then buy a new one later. The cost of selling then buying is often more than 8% of the property value. You should always enter into a bad credit history mortgage with the intention of refinancing back to a prime lender in around 2 to 3 years’ time, when your credit history is clear again, to help you make a fresh start and allow you to keep your home, you will need to repay your bad debts; clean up your credit file and then once you have a proven track record of repayments on your home loan with no arrears you can refinance to a better interest rate. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Can%20I%20get%20a%20home%20loan%20with%20bad%20credit%20history&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fcan-i-get-a-home-loan-with-bad-credit-history%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/#print?share=print) - **Categories:** Credit History **Tags:** credit report, home loan, home loan refinance, interest rates --- ### [Getting prepared as a first home buyer](https://www.oceanhomeloans.com.au/getting-prepared-as-a-first-home-buyer/) **Published:** October 22, 2014 **Author:** Brad Kirwan **Content:** Buying property for the first time is an enormous decision and as a **first home buyer** with little, or no experience in the property market, can make it seem somewhat overwhelming. Seeking out assistance and guidance wherever possible will only improve your chances of a successful first foray into property ownership, follow these tips and you will be well on the way to choosing a property that’s right for you and your unique situation. ## Set your borrowing limit By knowing how much you can afford to spend before you begin your search. It’s not just the up-front costs of buying the property but also knowing how to manage the mortgage repayments and plan for any unforeseeable changes to lifestyle or income. Make an appointment with a mortgage broker to talk through these issues and have your finance pre-approved. ## Have your deposit ready The bigger the better when it comes to the deposit for the first home buyer. A decent deposit will give you more loans to choose from and even the offer of a lower interest rate because there is less risk for the lender. The greater the deposit, the less you’ll have to borrow, which means less in interest over the lifetime of the loan and the lower your repayments will be over a set term. ## Research all the costs When planning your budget you need to factor in all the expenses included in purchasing a property. As well as the deposit, you may need stamp duty, inspections, insurance, legal expenses, valuations and title search fees. ## Check your credit rating Knowing what’s on your credit file can help you to explain any problems to your prospective lender. By checking your credit report earlier on, you will know what it contains before a lender accesses it. If there is anything on it that isn’t correct, you have time to contact the company that recorded it to get it corrected. ## Get pre-approved Buying a property can be a complex experience and good advice can help make sure you don’t make any costly mistakes. A [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/ "What does a mortgage broker do and 8 reasons why you should use one") can start the ball rolling in applying for a home loan and advise you of the steps involved in closing the deal. ## Protect yourself Don’t leave anything to chance, if you’re serious about a property, it’s wise to conduct a building and pest inspection. Make sure the person inspecting the home is qualified to do so, such as a licensed builder, architect or surveyor. ## First home buyer assistance There are various forms of government assistance for the first home buyer, such as the First Home Owner Grant. Depending on the state you’re in, there may be other forms of assistance like tax and stamp duty concessions. To find out more about any grants of concessions for the first time home buyer go to [www.firsthome.gov.au](https://www.firsthome.gov.au) or the Office of State Revenue in your state. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/getting-prepared-as-a-first-home-buyer/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/getting-prepared-as-a-first-home-buyer/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/getting-prepared-as-a-first-home-buyer/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/getting-prepared-as-a-first-home-buyer/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/getting-prepared-as-a-first-home-buyer/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/getting-prepared-as-a-first-home-buyer/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Getting%20prepared%20as%20a%20first%20home%20buyer&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fgetting-prepared-as-a-first-home-buyer%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/getting-prepared-as-a-first-home-buyer/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, budget, first home buyer, first home buyers, mortgage broker, mortgage repayments --- ### [How to find investment property growth areas](https://www.oceanhomeloans.com.au/how-to-find-investment-property-growth-areas/) **Published:** October 24, 2014 **Author:** Brad Kirwan **Content:** With most observers seeing rapid capital growth of **investment property** across Australia’s capital cities over the past 2 years, many investors may feel the time has passed to secure property that could appreciate in a short space of time. However, there still are opportunities to achieve capital growth, but it’s a matter of buying clever and buying clever means you need to understand what drives price growth. Simply put, property prices tend to rise in locations experiencing growth across a range of areas and the best returns are usually found in these markets that are poised for growth. Look for locations with several strong industries rather than any dependent on a single industry, employment is a major indicator of price growth as a strong job market drives population growth, which in turn fuels demand for real estate. Of course, no city or town will do well without quality infrastructure. ## Infrastructure drives investment property growth Strong investment in infrastructure or high quality infrastructure already present is usually a good indicator of potential investment property opportunities. Suburbs earmarked for [urban renewal](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/ "Property Investment Outside the Inner City") should also be on your radar, target locations with strong infrastructure investment and quality amenities that will bring long-term benefits to the area. With demand for inner-city living growing exponentially, many suburbs in capital cities, which may once have been undesirable, are now locations of significant redevelopment, thanks to their prime position. Such a transformation can have a huge impact on real estate prices, seek out well-located suburbs which haven’t yet experienced a renaissance but that adjoin one or two that have. A state or local government’s policies and plans can also be a strong influence on an area’s growth prospects. Keep an eye out for any announcements concerning development and plans for growth. Also keep in mind that one of the biggest drivers of property demand is a growing population and areas experiencing an increase in residents will often see real estate prices rise, monitor announcements made by local councils and governments and visit them to find out their intentions for growth in the area. Finally, remember that property is a long-term investment, as long as you do your research and buy well, your investment property will rise in value, you’ve just got to be patient and give it time. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-find-investment-property-growth-areas/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-find-investment-property-growth-areas/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-find-investment-property-growth-areas/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-find-investment-property-growth-areas/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-find-investment-property-growth-areas/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-find-investment-property-growth-areas/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20find%20investment%20property%20growth%20areas&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-find-investment-property-growth-areas%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-find-investment-property-growth-areas/#print?share=print) - **Categories:** Investing **Tags:** investment property, mortgage broker, property investing, rental property --- ### [What a mortgage broker can do for you](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/) **Published:** October 27, 2014 **Author:** Brad Kirwan **Content:** By staying up to date with lending criteria and products, a **mortgage broker** can make sure you get a loan that fits both your financial situation and your long-term goals, they can provide the answers you need and help you get the right mortgage products. In fact, half of all Australian mortgages are now arranged through a broker. ## Variety of loans Mortgage brokers have access to a large network of lenders and as a result their clients have the best choice of rates and products. With a large network of major lenders to choose from, your broker can source your ideal mortgage option from banks, credit unions, non-traditional lenders and more. ## Specialists Mortgage brokers are specialists providing expert advice and guidance on mortgage products, interest rates and current housing market conditions. Their knowledge is derived from selling only mortgage and mortgage related products. ## All in one Shopping at several banks can be frustrating, inefficient and extremely time-consuming. Your mortgage broker can show you product offerings from a large [panel of lenders](https://www.oceanhomeloans.com.au/lenders/ "Lenders") with just one visit. ## Protect you credit rating Rate-shopping on your own can actually be hazardous to your [credit rating](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/ "Keeping your credit history clean"). Every time a lender checks your credit, an entry is recorded on your credit file. Too many enquiries and your credit rating can weaken, possibly affecting the rate and terms of your mortgage. ## Personal attention Mortgage brokers are able to work one-on-one with each individual client, evaluate their specific needs and find a lender that suits them personally. You will ultimately receive a mortgage plan that is customized for you and meets your unique requirements. ## A mortgage broker doesn’t charge The services of a mortgage broker are at no cost to you. In general, the lender pays a commission to your broker for the services and solution provided and this is always disclosed to you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20a%20mortgage%20broker%20can%20do%20for%20you&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-a-mortgage-broker-can-do-for-you%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/#print?share=print) - **Categories:** Mortgage **Tags:** first time home buyer, home loan, mortgage broker, refinance --- ### [The 6 steps to becoming a property investor](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/) **Published:** October 29, 2014 **Author:** Brad Kirwan **Content:** Finding the perfect time to become a **property investor** is not easy, yet many investors get caught up in the fear of buying at the wrong time. The truth is that when to buy is not nearly as important as actually buying a property, particularly if you are planning to hold onto it long-term. As long as you plan to keep your property through the good times and the bad, you needn’t worry too much about temporary shifts in prices because it is still likely to end up being profitable in the end. ## Decide on your strategy Write down your goals for property investment, do you want to become a landlord or would you rather renovate and sell properties? Do you want a positive cash flow property, a high capital growth property or a balanced investment? Be clear on what you are seeking to achieve and what type of property fits your strategy. ## Get your finances in place Your finances should be in place before you go shopping for an investment property. Ask your mortgage broker to obtain a pre-approval for a specified purchase price, which will narrow down the most suitable areas for your research efforts. ## A property investor must research As an investor you need to use statistics to not only find the right suburb but also the right property within the suburb. Look for areas with low vacancy rates, broad buyer and tenant appeal, high employment and good transport links. ## Think with your head not your heart You need to be ready to put your emotions aside and think like an investor, not a home owner. The property you buy doesn’t need to be one you love, or even particularly like, as long as it meets the needs of the rental market. You also need to be detached enough to walk away from the property if the deal doesn’t work out the way you wanted. ## Measure your risk tolerance Events such as a major repair, employment change, extended sickness or sudden interest rate rise could put you in an uncomfortable financial situation. Make sure you are ready for the ups and downs of investing to make sure that your journey as a property investor is a long and profitable one. ## Seek out experts By talking to experts you will be able to avoid many of the pitfalls that inexperienced investors meet. Loans for an investment property are different to regular home loans in terms of the options you the property investor have. For instance, you may be able to make interest-only repayments for some of the loan term, and get the rental income the property generates taken into account for the potential to borrow more. Get your [mortgage broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/ "6 Reasons why you should use a Mortgage Broker") to provide quotes from at least 3 different lenders. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%206%20steps%20to%20becoming%20a%20property%20investor&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-6-steps-to-becoming-a-property-investor%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/#print?share=print) - **Categories:** Investing **Tags:** investment loan, investment property, property investment, property investor, rental property --- ### [No punting on interest rates - RBA sits tight.](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/) **Published:** November 4, 2014 **Author:** Brad Kirwan **Content:** Historically, Melbourne Cup Day has been remarkably popular for the RBA to move **interest rates**. However, this year things are slightly different. Rates remain unchanged at 2.5% and are expected to remain the same for some time to come. Whilst economists still believe normalisation of rates is inevitable, they predict a hike will happen much later than originally anticipated, with any change most likely not taking place until the second or third quarter in 2015. ## Slowing inflation keeps interest rates on hold The headline inflation cash rate for 2014 eased from 3% p.a. in the second quarter to 2.3% p.a. in the third quarter, grounds for the RBA to keep interest rates as is for the November period. The housing market continues to perform extremely well across Sydney, Melbourne and Brisbane. The spring season has brought with it an even higher number of listings than the same time last year, according to RP data analyst Tim Lawless. Dr Andrew Wilson, senior economist at the Domain Group, agrees. “It is an unprecedented listings boom”, he said, confirming that last month was the busiest listings period for October on record. This comes as good news for buyers and sellers alike. Sellers are benefiting from an increased sales price thanks to the low interest rate allowing higher levels of borrowing. Meanwhile, Prospective buyers currently have a huge pool of properties to choose from. Unlike the cup, there’s no need to gamble on the housing market – if you’re a mortgage holder you’re onto a winner. If you’ve thought about downsizing, upsizing or investing, with interest rates continuing to remain low, perhaps now is the time to look at your options. As always, we’re here to share our expertise with you, so give us an obligation-free call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20punting%20on%20interest%20rates%20-%20RBA%20sits%20tight.&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-punting-on-interest-rates-rba-sits-tight%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan refinance, home loans, interest rates, property investing --- ### [Choosing the home loan that best suits your needs](https://www.oceanhomeloans.com.au/choosing-that-home-loan-that-best-suits-your-needs/) **Published:** November 7, 2014 **Author:** Brad Kirwan **Content:** Finding a **home loan** that matches your needs could save you many thousands of dollars in interest payments over the term of your mortgage. With so many loan products now on the market you can be sure there’s at least one that fits the bill for you. Here are a few tips to keep in mind in your search for a suitable mortgage. ## What type of purchaser are you? Your personal situation will determine what mortgage suits your needs, as well as what type of products are actually available to you. Are you a first time buyer, for instance, or are you refinancing an existing debt? Perhaps you’re looking for solid capital growth in an investment property or the home you’ll spend the rest of your life in? It’s important to consider why you’re buying and finding a mortgage that complements that. ## What’s my borrowing capacity? Lenders will decide how much they are willing to lend to you based on a number of factors; however, that doesn’t mean you should take the maximum amount they offer. Closely check your finances to determine what you can afford to spend. Be honest and work out a realistic budget, factoring in all regular commitments, such as school fees, car payments, and food, as well as all those entertainment expenses. What’s left can be channeled into any mortgage repayments. ## Do your home loan research Speak with your [mortgage broker](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/ "What a mortgage broker can do for you") – they’re in a great position to help you compare different loans and lenders to see how they suit your circumstances. Decide what home loan features you require to meet your objectives, for example are you looking for flexibility to pay off your mortgage quickly? – and then go in search for a suitable deal. Some of the most common loans that may meet your requirements include: - Fixed rate – can help soften impact of any future rate rise - Split rate – offers the security of fixed rate with the flexibility of a variable rate - Line of credit – good for financing renovations or additional property investments - Lo-doc – for the self-employed, usually requires less documentation, such as establishing proof of income - No deposit – can’t save for a 5% deposit? This loan will let you finance 100% of the purchasing price by using a guarantor - Interest-only – popular for investors who don’t want to pay the principle component of a mortgage. Usually lower repayments amounts, leaving room to pursue other investments - Construction – for additions or building your own home There are a range of tools now available, such as the internet, to help research, compare and contract loans. For many borrowers, however, lending advice from a mortgage broker is the easiest and usually most effective option for avoiding confusion and finding an appropriate home loan for your needs. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/choosing-that-home-loan-that-best-suits-your-needs/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/choosing-that-home-loan-that-best-suits-your-needs/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/choosing-that-home-loan-that-best-suits-your-needs/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/choosing-that-home-loan-that-best-suits-your-needs/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/choosing-that-home-loan-that-best-suits-your-needs/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/choosing-that-home-loan-that-best-suits-your-needs/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Choosing%20the%20home%20loan%20that%20best%20suits%20your%20needs&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fchoosing-that-home-loan-that-best-suits-your-needs%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/choosing-that-home-loan-that-best-suits-your-needs/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, consolidation loan, first time home buyer, home loan --- ### [Put your credit card debt on Ice](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/) **Published:** November 14, 2014 **Author:** Brad Kirwan **Content:** The average credit card in Australia is carrying an outstanding balance of $3,140 and most people have more than one credit card. In fact, total consumer **credit card debt** courtesy of plastic has reached $49 billion in Australia and is affecting millions of people. Anyone with a credit card balance rolling over from month to month, knows the pain of paying out ridiculous interest rates of up to 18% – a rate more than three times that of the average mortgage. Clearly, eliminating or getting your credit card under control can improve your financial situation dramatically, but doing so involves changing your habits and your lifestyle. You cannot get credit card debt under control whilst continuously charging new purchases. Using your credit card is often for an impulsive purchase. Some advisers have suggested that you put your credit card on ice, literally. Place it in a tub of water and put it in the freezer! That way when it comes to using it, you have to wait a day for the ice to melt before you can access it. This gives you time to really think about whether you need the item or not. ## So what can you do to get rid of credit card debt? If you have multiple credit cards, transfer all your credit card balances onto the card with the lowest interest rate and get rid of the rest. Consider [consolidating](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/ "Consolidate your debts with a home loan refinance") all your debts into your mortgage. If you have enough equity in your home you could roll all your debts into your home loan. Be aware that you are now paying all your credit cards and personal debts off over a longer period of time. Use your savings to pay off your card debt. Earning three per cent interest on a savings account while paying 18% on a credit card balance is a bit counter-productive. Pay more than the minimum monthly payment. You will never get out of debt by just paying what amounts to only the interest on your debt. Review your personal budget to see where you can save a few extra dollars which could be used to repaying your credit card. The steps to get out of credit card debt are relatively simple, but it takes self-discipline and a willingness to change aspects of your lifestyle to make the process stick. If you would like to talk to us about any of the methods discussed here, please give us a call as we would be happy to help you to get your money working for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Put%20your%20credit%20card%20debt%20on%20Ice&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fput-your-credit-card-debt-on-ice%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/#print?share=print) - **Categories:** Refinance **Tags:** credit card, credit card debt, debt consolidation, home loan refinance, interest rates --- ### [The best time for a home loan refinance is when interest rates are low](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/) **Published:** November 19, 2014 **Author:** Brad Kirwan **Content:** With the Reserve Bank of Australia keeping interest rates at historical lows and inflation within the RBA’s target band of between 2 and 3 percent, borrowers can look forward to lower rates for some time to come, so what does this mean for homeowners? It may be a good time to reassess your mortgage, and perhaps consider a **home loan refinance** to see if you can take advantage of these lower rates. ## Is it time for a home loan refinance? Borrowers today have a wide range of mortgage products and lenders to choose from, making switching loans fairly commonplace. In fact, nearly one-third of new borrowing consists of people refinancing their existing mortgages, according to the Australian Bureau of Statistics. And with interest rates now at levels not seen since the GFC, now is a great time to consider whether your loan has the best possible structure, security and flexibility. People switch loans for a variety of reasons. Falling interest rates and changes in financial conditions prompt borrowers to reassess their debt and how to manage it. With so many loan options available, switching to a different type of loan can sometimes save thousands of dollars over the life of the loan. ## What exactly is refinancing? Refinancing simply means taking out a new mortgage and using some or all of the funds to pay out your old, existing loan. This could involve switching lenders, loan products or both. There are many reasons to consider a home loan refinance: **Fixing your loan** Many borrowers take advantage of refinancing to switch from a variable to a fixed rate loan. With interest rates dropping, you could lock in a low rate for the next 1 to 10 years. Refinancing to a fixed rate home loan or a [split loan](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/ "Fixed or Variable Rates – but why not a Split Rate Loan") (talk to us about the advantages of split loans) can allow you the security of stable repayments for a set period. **Consolidating your debt** By combining various debts such as a car loan and credit card debt into your home loan, you can reduce the amount of interest you pay, sometimes dramatically. **Borrowing for renovations or large purchases** Borrowers who have built up [equity](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/ "How using equity can get you started in property investing") in their home can refinance to access this equity via a larger loan. You can use this equity for expenses such as renovations, a new car or even as the deposit for an investment property. **Making the right decision** Choosing the loan with the lowest interest rate and lowest fees doesn’t guarantee you the best deal. To calculate the real savings of switching loans, you must consider exit and establishment fees. We can help you analyse comparison rates on various mortgage types to compare costs over the life of the loan and help you decide whether a home loan refinance is right for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20best%20time%20for%20a%20home%20loan%20refinance%20is%20when%20interest%20rates%20are%20low&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/#print?share=print) - **Categories:** Refinance **Tags:** debt consolidation, home loan refinance, investment property, mortgage repayments --- ### [Saving for your future financial freedom starts today](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/) **Published:** November 21, 2014 **Author:** Brad Kirwan **Content:** The reason most of us like to spend money is because it makes us feel good, in that moment. But the truth is, overspending, impulse buying, and credit card debt make us feel sick. Financial stress is no fun, and with a few simple, determined steps, you can get on the path to building savings you can access for an investment portfolio, holidays, or any significant purchase. There are three simple steps to help you gain control of your money, rather than your money controlling you: ## Associate freedom with saving rather than spending Too many of us believe that life would be too boring, too strict if we lived within a budget. We convince ourselves that spending is more pleasurable. The first step to **saving** money (without feeling like you have been wrapped in a straightjacket) is to understand that [creating a budget](https://www.oceanhomeloans.com.au/saving-for-a-home-loan-its-all-in-the-budgeting/ "Saving for a Home Loan – it’s all in the Budgeting") and living within your means actually creates freedom. Whenever you buy something, anything, ask yourself: Do I want to help this café/shop/business get rich, or do I want to help myself and my family become financially independent? Because that is what becoming a saver is all about. Remember: that $3.50 cup of coffee five days a week removes $910 every year from your income. Try rewarding yourself for saving well during the week: have a take-away coffee on Friday instead of every day. ## Understand that spending and saving are habits Just like spending, becoming a saver is a habit. Once you get out of the habit of spending, you’ll wonder how you ever threw money away. Adopting the habit of saving is easier than many people think. If you can track your expenses, taking into account every expense, you will become conscious of what you spend. Keep receipts in a notebook or a spreadsheet and be ruthless: find out where every cent is going over the course of a week or even better, a month. Include every utility bill, every phone bill, mobile account, every unscheduled grocery stop, every snack, every Tim Tam. Track it all. You will be amazed at how seemingly insignificant purchases add up to huge proportions of your income, and you will start to make conscious decisions about whether or not you want to spend money on those items. You will adopt the habits of a saver. ## Create systems in your life to manage your finances Here are some important first steps to put you onto a realistic, achievable savings plan: - Set realistic goals. Start with small, achievable steps. Be flexible and do not punish yourself. - Divide your income into different accounts before you see it. Have a portion of your income go directly into a savings account that earns interest. Ask your employer to do this automatically for you. - Once you have $500 or more, put it into a high-yield term deposit so you cannot touch it and it earns better interest. Even $10 per week adds up over time. - Set up one account for non-negotiable expenses. These are often things that can be or are automatically debited such as mortgage payments, broadband, phone bills, etc. - Set up a different account (maybe even at a different bank) for negotiable, day-to-day expenses such as petrol (yes, it is negotiable: consolidate trips to minimise usage, go easy on the accelerator), food (buy sale items), social events, dining out, etc. When this account runs out, that is it for the week/fortnight. - Reward yourself if you stay on track. - Learn to say ‘NO’. If you can’t afford something, don’t buy it. By actively following the habits of a saver for even just a few months, you will start to change how you view spending, and will realise the huge benefits in building up your savings. Start today. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Saving%20for%20your%20future%20financial%20freedom%20starts%20today&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsaving-for-your-future-financial-freedom-starts-today%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/#print?share=print) - **Categories:** Investing **Tags:** budget, home loan, interest rates, saving --- ### [Product Focus - Professional Package Home Loan](https://www.oceanhomeloans.com.au/product-focus-professional-package-home-loan/) **Published:** November 24, 2014 **Author:** Brad Kirwan **Content:** Enjoying a solid income and a sterling credit rating? A **professional package home loan** could be for you. Don’t let the name fool you, you don’t have to be a doctor or a lawyer to land a mortgage of this type. Different lenders have different qualifying criteria for these loans and most now base their decisions on the size of the loan and the income of the applicant. A professional package home loan is a specially discounted loan for low-risk borrowers with good incomes who are typically borrowing large amounts of money. Having said that, many lenders are now offering these packages on loans as little as $150,000, though with a small discount off the standard variable loan rate. These interest rate discounts are directly related to the loan amount – the larger the loan, the bigger the discount. Borrowers can expect to see discounts of 0.2% to 1.0% off standard variable loan rates, depending on the lender. ## Is there a catch with a professional package home loan? There’s an annual fee of somewhere between $200 for a basic package and $750 for a ‘private banking’ client package – a package with all the bells and whistles for big loans. The annual fee typically covers all application fees (regardless of the number of accounts you have), ongoing loan fees, transaction account keeping fees, annual credit card fees, and discounts on margin loans, personal insurance, financial planning, etc. The pros: - Interest rate discounts on the standard variable rate - You may be eligible for other benefits such as fee free transaction accounts and discounts on insurance products - Some lenders waive establishment fees, ongoing monthly fees for your other loans and credit card fees - Account usually offers many features, including redraw facilities, [split loans](https://www.oceanhomeloans.com.au/product-focus-combination-or-split-loan/ "Product Focus – Combination Loans or Split Loans"), offset accounts, etc. The cons: - The annual fee is fairly steep We would be happy to go over the fine print of a professional package home loan to see if it is right for you and to discuss the possible savings you could be enjoying. Please feel free to call us today with any questions you might have! ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-professional-package-home-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-professional-package-home-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-professional-package-home-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-professional-package-home-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-professional-package-home-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-professional-package-home-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20Focus%20-%20Professional%20Package%20Home%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-professional-package-home-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-professional-package-home-loan/#print?share=print) - **Categories:** Mortgage **Tags:** fixed interest rates, home loans, mortgage broker, mortgage repayments, professional package home loan --- ### [Property Investment – Cashflow or Capital Growth?](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/) **Published:** November 26, 2014 **Author:** Brad Kirwan **Content:** Many Australians look to **property investment** in their wealth creation journey. Whether you are looking at purchasing your first investment property or adding to an established property portfolio, the debate over cashflow or rental yield and capital growth will be at the heart of your decision. The point of property investment is principally to make money. This is achieved via the rental income you receive from the property and by the increase in the value of your property over time, or, by creating equity through renovating or developing the property. To maximize the amount of return it is clear that this would be best accomplished by maximizing both cashflow and capital growth. In recent times many investors have been able to achieve both, for instance some investment properties in mining areas of Queensland have been returning excellent rental incomes coupled with significant capital growth. However this may not always be possible as there is an inverse relationship between these two variables. ## Property investment for capital growth For example, lets say a property in a beachside suburb of Sydney was to increase in value by 8-10% per annum. As it grows in value, the rental yield of this property will decrease simply because the rental yield is expressed as a percentage of the property’s value. Unless of course the rental income was to increase at the same pace as the property’s value, this holds true. Some investors opt for taking a balanced view of their portfolio and purchase [multiple properties](https://www.oceanhomeloans.com.au/diversify-your-investment-property-strategy/ "Diversify your investment property strategy"), some providing yield and some providing growth. A high income earner may choose a property for capital growth as the poor rental yield may provide other benefits to that investor in the form of tax deductions. Whatever your situation using property investment as a wealth creation vehicle is a safe and trusted strategy. Your mortgage broker is best placed to discuss your plans and develop strategies the suit your particular investment needs. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Property%20Investment%20%E2%80%93%20Cashflow%20or%20Capital%20Growth%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproperty-investment-cashflow-or-capital-growth%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/#print?share=print) - **Categories:** Investing **Tags:** investment property, mortgage broker, property investing, property investment, rental property --- ### [Could you benefit from a debt consolidation loan?](https://www.oceanhomeloans.com.au/could-you-benefit-from-a-debt-consolidation-loan/) **Published:** November 28, 2014 **Author:** Brad Kirwan **Content:** We come across many clients who could benefit for a debt consolidation loan, paying high interest rates on multiple loans. It is not uncommon for people to be paying off loans for two family cars, a personal loan for a holiday and multiple store or credit cards. If you recognize this scenario, you may benefit from consolidating all this debt into one loan. The main benefit of a [consolidation loan](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/ "Would a home loan refinance improve your financial position") is that it allows you to pay one lower monthly repayment instead of multiple repayments. This provides immediate relief to your family’s budget and the amount you save can be quite significant. A **debt consolidation loan** can be unsecured, meaning you do not need to provide the lender with an asset as security for the loan. If the loan is secured, it is quite common for the bank to take a mortgage over your home or other property as security. In exchange you will be offered a better or lower interest rate. ## Use a debt consolidation loan wisely It is easy to find yourself in debt and sometimes struggling to make ends meet; you need to control the debt and not let it control you. A [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/ "What does a mortgage broker do and 8 reasons why you should use one") can help you make sure the debt consolidation loan does in fact reduce your overall repayments. With a loan of this type it is paramount that there are no hidden or unexpected fees and that it does provide real benefit to you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/could-you-benefit-from-a-debt-consolidation-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/could-you-benefit-from-a-debt-consolidation-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/could-you-benefit-from-a-debt-consolidation-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/could-you-benefit-from-a-debt-consolidation-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/could-you-benefit-from-a-debt-consolidation-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/could-you-benefit-from-a-debt-consolidation-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Could%20you%20benefit%20from%20a%20debt%20consolidation%20loan%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fcould-you-benefit-from-a-debt-consolidation-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/could-you-benefit-from-a-debt-consolidation-loan/#print?share=print) - **Categories:** Loans **Tags:** credit card debt, debt consolidation, debt consolidation loan, home loan refinance, mortgage repayments --- ### [Product focus - the interest only loan](https://www.oceanhomeloans.com.au/product-focus-the-interest-only-loan/) **Published:** December 1, 2014 **Author:** Brad Kirwan **Content:** The interest only loan is not for everyone, but it can be useful for property investors in the right circumstances. As the name implies, the borrower need only pay the interest on the loan and nothing off the principal for an initial term (typically between one and five years). The interest rate can be fixed or variable over this time. Interest only mortgages offer one big advantage relative to standard home loan types: very low payments over this initial term of the loan. Interest only loans are best suited for short-term returns. They essentially defer the cost of a property until a later time, providing the borrower with an opportunity to grab a potential bargain without crushing repayments. Most mortgages work by requiring you to pay back a little bit of the principal with every payment; not much at first and then much more as the years go by. Interest-only loans delay principal payments for the first few years, resulting in significantly lower initial payments. ## Interest only loan aids cashflow These loans are popular with property investors as they tend to maximise the tax benefits available to investors over the long-term while preserving their [cashflow](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/ "Property Investment – Cashflow or Capital Growth?") position. By choosing an interest only loan, you would pay less over the initial interest-only term than with a standard-type loan: you could keep more cash on hand to renovate your property or simply to profit from the rental income of your investment. But here’s the catch: you still owe the full principal at the end of the interest only term as you have not repaid any of the principal of the loan. You may also face a steep jump in payments when you begin paying back the principal. These loans can be useful if: - You are a disciplined, savvy [investor](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/ "The 6 steps to becoming a property investor") who is financially prudent and doesn’t overextend on something you really cannot afford. - Your current housing loan is not stretching you too thin financially. - You do not mind a bit of risk. In a rising market that provides some capital growth in the property, the **interest only loan** could be a strategy worth pursuing, for the right individual. As always, the deciding factors as to whether this product is best suited to you will depend on your unique set of circumstances. However, it is always good to know the options available to you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-the-interest-only-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-the-interest-only-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-the-interest-only-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-the-interest-only-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-the-interest-only-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-the-interest-only-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20focus%20-%20the%20interest%20only%20loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-the-interest-only-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-the-interest-only-loan/#print?share=print) - **Categories:** Investing **Tags:** interest only loan, interest only repayments, investors, mortgage repayments, property investing --- ### [Interest rates remain steady for the festive season](https://www.oceanhomeloans.com.au/interest-rates-remain-steady-for-the-festive-season/) **Published:** December 2, 2014 **Author:** Brad Kirwan **Content:** Christmas has come early for mortgage holders this year, with the RBA’s decision to keep **interest rates** steady for the last month of 2014, freeing up cash for Christmas spending. The interest rate, which has been on hold at 2.5% since August last year, is predicted to remain the same until mid 2015. According to Philip Lowe, Deputy Governor of the RBA, the historic low interest rate has been working in Australia by successfully stimulating the economy as it was intended to do. While there are no immediate plans to change the interest rate up or down, Dr Lowe believes that having the option to cut rates further in the future if necessary puts the Australian economy in a strong place. “\[In Australia\], we are seeing lower interest rates lead to higher asset prices and that’s inducing more real activity in the economy,” he said. “My judgement would be that if further interest rate reductions were required, they would have some effect in stimulating economic activity.” ## Continuing low interest rates The low interest rate continues to mean easier entry into the housing market for new homebuyers and lower monthly repayments for mortgage holders. Investment in housing, which has recently been driven by low rates and strong population growth is set to increase by 7.5% in 2015 according to the annual financial and macroeconomic forecasts made by members of the Executive Committee of Australian Business Economists. If you’re a mortgage holder there’s no immediate need to tighten your belt over the festive season or, if predictions come true, for some months to come. If you’ve been thinking about downsizing, upsizing or investing, perhaps now is the time to look at your options. As always, we’re here to share our expertise with you, so give us an obligation-free call. We’d like to wish you and your family the very best of the season. We’ll be back in February so until then, enjoy the low interest rates and the best of the Australian summer. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-remain-steady-for-the-festive-season/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-remain-steady-for-the-festive-season/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-remain-steady-for-the-festive-season/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-remain-steady-for-the-festive-season/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-remain-steady-for-the-festive-season/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-remain-steady-for-the-festive-season/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20rates%20remain%20steady%20for%20the%20festive%20season&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-remain-steady-for-the-festive-season%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-remain-steady-for-the-festive-season/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, investors, mortgage broker, mortgage repayments --- ### [Property investors - Don't overlook the depreciation schedule](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/) **Published:** December 5, 2014 **Author:** Brad Kirwan **Content:** Many property investors fail to maximise their investment property deductions by not claiming the correct amount of depreciation. If you own an investment property, it is never too late to start a bit of tax planning to make sure you get the maximum tax deduction possible, you would be foolish to pay more tax than you have to! Something often overlooked by **property investors** is a property tax depreciation schedule. Depreciation is a ‘non-cash’ expense that represents the decline in value of an asset due to its use over time. Being a ‘non-cash’ expense means that you have not physically put your hand in your pocket and spent any money, however the wear and tear on items of plant associated with your rental property is recognized as a legitimate tax deduction. Property investors can depreciate such things as carpet, kitchen cupboards, air conditioners and so on. ## Deductions for property investors In order to correctly claim the maximum deduction you are entitled to it is best to enlist the services of a qualified Quantity Surveyor. For a minimal fee, they will visit your rental property and list all items of plant with an estimate of its value and the relevant depreciation amount claimable in the current and each subsequent tax year. Another advantage of having this schedule is that if you were to [renovate your investment property](https://www.oceanhomeloans.com.au/5-tips-to-add-value-to-your-investment-property/ "5 tips to add value to your investment property") you would have a written down value associated with each item you were renovating. For property investors this cost could be written off, giving you a tax deduction you may otherwise have missed out on. To find out more you should speak to your accountant or tax adviser. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Property%20investors%20-%20Don%27t%20overlook%20the%20depreciation%20schedule&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproperty-investors-dont-overlook-the-depreciation-schedule%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/#print?share=print) - **Categories:** Investing **Tags:** depreciation, investment property, investors, property investors, rental property --- ### [Don't risk your future with insufficient home insurance cover?](https://www.oceanhomeloans.com.au/dont-risk-your-future-with-insufficient-home-insurance-cover/) **Published:** December 8, 2014 **Author:** Brad Kirwan **Content:** Having insufficient **home insurance** is a huge problem for home owners in Australia. Under-insurance is where the amount you are insured for is insufficient to cover the damage or economic loss sustained when you make a claim on your insurance policy. The Insurance Council of Australia estimates that more than 40% of households fail to correctly assess the value of their home and contents, so there’s a real chance you could be under-insured. This problem was highlighted by the 2003 Canberra bushfires, which destroyed 488 homes and revealed their owners were, on average, underinsured by 27 to 40 per cent. It is often difficult for individuals to estimate the necessary funds required to rebuild their home should it be destroyed, a fact which is recognized by the insurance industry. Consequently the industry has taken steps to improve its practices in this area. For example ‘total replacement’ policies are now available which pay rebuilding costs in full rather than a ‘sum insured’. Similarly, some insurers have introduced ‘extended replacement’ policies which pay 25-30% above the sum insured. ## Check your home insurance policy You should read your policy documents carefully to make sure you have adequate home insurance cover. In addition it is recommended that to avoid under-insurance you re-evaluate your home and contents at the renewal of your policy. Think about what you bought during the year, did you make any [improvements to your home](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/ "Home Renovations – Do your homework first") during the year. Look around your home and carefully consider how much it would cost to replace everything in it. It may be a tedious process but you will be thankful you took the time to do this should the unfortunate incidence occur and you are faced with the loss of your home and all its contents. Review your home insurance every year and you’ll have peace of mind, knowing that you are completely covered ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/dont-risk-your-future-with-insufficient-home-insurance-cover/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/dont-risk-your-future-with-insufficient-home-insurance-cover/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/dont-risk-your-future-with-insufficient-home-insurance-cover/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/dont-risk-your-future-with-insufficient-home-insurance-cover/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/dont-risk-your-future-with-insufficient-home-insurance-cover/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/dont-risk-your-future-with-insufficient-home-insurance-cover/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Don%27t%20risk%20your%20future%20with%20insufficient%20home%20insurance%20cover%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fdont-risk-your-future-with-insufficient-home-insurance-cover%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/dont-risk-your-future-with-insufficient-home-insurance-cover/#print?share=print) - **Categories:** Insurance **Tags:** budget, home insurance, property --- ### [The investment property market is hot - don't get left in the shade](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/) **Published:** December 12, 2014 **Author:** Brad Kirwan **Content:** This summer is expected to be a hot one for the **investment property** market. With many economists predicting the official cash rate to remain low for some time, this summer could be a great time to consider a property purchase. Following the Reserve Bank’s 15th consecutive month holding the official cash rate at 2.5% in November 2014, Ninemsn Finance reported it was widely expected a rise in rates would not now come until mid-2015.1 Meanwhile, Fairfax’s Domain Group released its State of the Market Report for the 2015 financial year on September 18, predicting that Sydney’s median house price will lift between 5 and 7 percent during the 2015 financial year, while Melbourne prices are predicted to rise between 3 and 5 percent. While still a strong growth prospect, these numbers are around half the rate at which prices grew for the 2014 financial year, indicating prices may present more value for buyers in the coming year. ## Investment property proves to be a strong asset class Over the years, [well-selected investment property](https://www.oceanhomeloans.com.au/choosing-the-location-of-your-investment-property/ "Choosing the location of your Investment Property") has certainly proven to be a strong asset choice, with values growing over time. Research by ASX and Russell Investments for example, recently showed that residential property delivered more steady gross returns over the 20 years to December 2013, compared to shares, returning 9.9 per cent per annum. The current high demand for investment property is certainly highlighting the investment potential of real estate, [recognised by investors](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/ "Property Investment – Cashflow or Capital Growth?") across the country. But with strong demand, comes strong competition, so it’s important to be on the front foot when it comes to shopping in the property market this summer. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20investment%20property%20market%20is%20hot%20-%20don%27t%20get%20left%20in%20the%20shade&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-investment-property-market-is-hot-dont-get-left-in-the-shade%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/#print?share=print) - **Categories:** Investing **Tags:** interest rates, investment property, investors, property investing --- ### [3 tips to help you plan your investment property attack](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/) **Published:** December 15, 2014 **Author:** Brad Kirwan **Content:** Summer has arrived and the **investment property** market is just as hot as the Aussie cricket team, so here are three useful tips to help plan your attack. ## Get organised A good first step is to go through your financials and goals for your property purchase, so that you can get a good idea of your borrowing power and obtain pre-approval for an investment property mortgage, so you are ready to take action. Contact your [mortgage broker](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/ "What a mortgage broker can do for you") to arrange an updated valuation for your property so you know exactly how much you will be able to borrow. ## Build your investment property knowledge Next, do your research around good value areas to buy as well as price growth potential, you’ll also want to consider proximity to transport links, schools and business districts – as well as convenience. These factors will affect your resale value and the amount you’ll be able to rent the property out for. ## Hit the pavement With the sun shining, summer is a great time to visit a lot of open for inspections and really shop around to get the property you want. It’s also typically a good time to negotiate a good property price – with many potential buyers on vacation, the market may not be as crowded as in spring, and vendors will often be keen to settle a sale quickly before the new school year. So don’t get left in the shade – act now to secure yourself an investment property this summer! For more information on your [finance options](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/ "6 Tips to increase your home loan borrowing capacity") for a new home, give us a call today. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%203%20tips%20to%20help%20you%20plan%20your%20investment%20property%20attack&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F3-tips-to-help-you-plan-your-investment-property-attack%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, investment property, property investment, rental property --- ### [Do you have a financial plan for 2015](https://www.oceanhomeloans.com.au/do-you-have-a-financial-plan-for-2015/) **Published:** December 17, 2014 **Author:** Brad Kirwan **Content:** As we move into yet another new year, it’s important to take some time to take stock of the year that was and what you want out of the year ahead. The start of the year marks an ideal time to review your personal financial plan, and with many of us fortunate enough to have some time off, summer can provide the perfect occasion to nut out some resolutions and a roadmap for success. ## Financial plan for success “If you fail to plan, you are planning to fail.” No true success comes without some solid planning and goal setting. Take some time this summer to think about your financial goals – both long and short-term. A great way to stick to any resolutions is to keep them front of mind. Set a monthly reminder to review and track your progress or create a ‘vision board’, using a piece of cardboard and some creative licence. Keep it somewhere you will see every day, to help you stay focused. ## Financial health No financial commitments should be set-and-forget. As you head into the new year, it’s a great chance to review your home loan arrangements and any other financial commitments. Ask yourself, how are you managing your loan repayments? Do you think you could be [paying more off your mortgage](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/ "6 tips to pay your home loan off faster and achieve financial freedom")? Or perhaps you’re finding your current set-up difficult to maintain? A different loan or repayment set-up could be a simple but effective way to improve your financial circumstances in 2015. ## Anticipate change Some things in life are impossible to plan for, but others not so much. Major life changes and milestones can impact our finances significantly, but by having a **financial plan**, we can minimise the risks and disruption. Take some time to consider whether any major events could interrupt your financial arrangements in 2015. A new addition the family? A change in employment? Even if it’ something a couple of years away, by planning now, you’ll be much better placed to handle any bumps in the road. ## Eye for opportunity The beginning of the new year represents a great opportunity to assess the prospects for new ventures. Would you like to buy an [investment property](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/ "The 8 steps to buying an investment property") this year? Are you dying to renovate or head overseas? Think about your aspirations and how you might be able to achieve them. If you have an existing home loan, chances are you may have already acquired some equity that can be used to fund a new home or an investment property – or renovations and holidays. But you’ll never know if you never take the time to find out. Why not give us a call today to discuss your financial plan for 2015 and how we can help you get there. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/do-you-have-a-financial-plan-for-2015/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/do-you-have-a-financial-plan-for-2015/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/do-you-have-a-financial-plan-for-2015/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/do-you-have-a-financial-plan-for-2015/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/do-you-have-a-financial-plan-for-2015/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/do-you-have-a-financial-plan-for-2015/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Do%20you%20have%20a%20financial%20plan%20for%202015&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fdo-you-have-a-financial-plan-for-2015%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/do-you-have-a-financial-plan-for-2015/#print?share=print) - **Categories:** Property **Tags:** debt consolidation, financial plan, home loan, home loan refinance, investment property --- ### [Make sure you get the right accountant for your investment property](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/) **Published:** January 20, 2015 **Author:** Brad Kirwan **Content:** You’ve secured your **investment property**, the tenants are in and paying rent and everything is running smoothly, it may only be mid January but now is the time search out the accountant that will give you the best possible support over the coming years. Finding a good accountant that will help you to maximise your [tax deductions](https://www.oceanhomeloans.com.au/owning-an-investment-property-the-tax-advantages/ "Owning an Investment Property – The Tax Advantages") is imperative. Here are a few things you can do to make sure your find the right one; ## Do they know their investment property stuff? Everyone is entitled to claim expenses which have legitimately been incurred in the course of earning their taxable income and the expenses on your investment property are no different. The tax office even has a breakdown of costs which are claimable for certain industries. You should choose an accountant that is familiar with your profession as they will be aware of additional items you can claim which may be overlooked by an accountant unfamiliar with your particular industry. ## Can you relate to them? Quite often accountants talk in their own language of financial terms and tax jargon. This can be confusing and can lead to you not understanding exactly what you can or cannot claim. The more you understand about the process the better your record keeping will be and this in turn will lead to a better tax position. Your accountant should be able to explain complicated accounting principles to you in simple to understand language. ## Can you trust them? The difference between tax minimization and tax avoidance is huge. You want to find someone who is proactive and on your side. You are perfectly entitled to claim as much as you legitimately can in order to [minimize your tax payable](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/ "Property investors – Don’t overlook the depreciation schedule"). But beware, if any deduction claimed is questioned and found to be inappropriate you will be responsible for this. You therefore must feel confident with your accountant and trust that they are completing your tax obligations for your investment property within the guidelines stipulated by the Australian Tax Office ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Make%20sure%20you%20get%20the%20right%20accountant%20for%20your%20investment%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fmake-sure-you-get-the-right-accountant-for-your-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/#print?share=print) - **Categories:** Property **Tags:** depreciation, investment property, investors, rental property --- ### [How to ensure you have protected your investment property](https://www.oceanhomeloans.com.au/how-to-ensure-you-have-protected-your-investment-property/) **Published:** January 22, 2015 **Author:** Brad Kirwan **Content:** Owning an **investment property** to generate wealth can be a profitable exercise but there are many investors who fail to manage the risks that are involved, leading to financial problems that could easily be avoided if some simple steps to protect the investment were carried out. Whatever reason drives you to want to invest in property, there are a few things you should take into consideration to protect your investment. ## Investment property inspections When purchasing a property to rent to others, basic things must be in working order that you might let slide if you lived there yourself. Always have a [full property inspection](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/ "Why you Should Pay for a Pre-Purchase Property Inspection?") done by a qualified expert. ## Protection Landlord insurance is essential and you should contact a broker if you are unsure about what is included or excluded in the policy. Renting property is a business and some of the features of landlord insurance may not be familiar to you. Getting this wrong is not an option. ## Property manager Renting out your investment property as soon as possible once you’ve purchased it, will maximise the return you get with rental income and also assist you to pay your mortgage. Doing this through a [property manager](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/ "8 Questions you must ask your Investment Property Manager") will be at a cost, but it is the easiest way to go, as they will market the property, reference check tenants for you, and advise you on appropriate rental prices for your area. ## Regular inspections By making regular inspections you will be able to quickly establish when any damage to the property has happened or if there are any repairs that need to be seen to immediately, by quickly addressing any maintenance issues you prevent the problem from escalating and you also keep your tenants happy. Inspections are also essential in making sure the terms of the lease agreement are being adhered to and your property is being looked after by your tenant. An investment property is an excellent way to build wealth, but it should be approached like a business. Have a target, formulate a plan, never underestimate the costs and work closely with your [mortgage broke](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/ "What a mortgage broker can do for you")r and accountant. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-ensure-you-have-protected-your-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-ensure-you-have-protected-your-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-ensure-you-have-protected-your-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-ensure-you-have-protected-your-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-ensure-you-have-protected-your-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-ensure-you-have-protected-your-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20ensure%20you%20have%20protected%20your%20investment%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-ensure-you-have-protected-your-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-ensure-you-have-protected-your-investment-property/#print?share=print) - **Categories:** Property **Tags:** insurance, investment property, property inspections, property investors, rental property --- ### [How to pay your home loan off sooner](https://www.oceanhomeloans.com.au/how-to-pay-your-home-loan-off-sooner/) **Published:** January 27, 2015 **Author:** Brad Kirwan **Content:** There has been plenty of discussion recently about whether we have seen the last cuts to home loan interest rates, so now more than ever it’s important to understand how to effectively manage your mortgage. With interest rates at their lowest levels for close to 40 years, the secret is to not sit back and enjoy the extra cash you might have at the end of each week, but rather to take advantage of a once in a generation opportunity to pay off your **home loan** sooner. Here are a few simple repayment tips which will enable you to pay your loan off faster and save money. ## Review your home loan Banks, Building Societies and [Non Bank lenders](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/ "Home Loans – Banks vs Non-Bank Lenders") are now offering heavily discounted lending packages to win over your business. Ensuring that your home loan still offers a competitive interest rate could save you thousands of dollars over the short, medium and longer term. However be sure to give us a call for advice on the most appropriate product for you and any fees or costs that are associated with switching before jumping ship. ## Up your home loan repayments Try to maintain your current payment level on a variable rate loan, even though your required repayments may have dropped due to falling interest rates. This will enable you to shave a portion off the principal of your loan. Even something as simple as increasing the frequency of your payment by paying weekly or fortnightly can save you thousands of dollars of interest on your loan effectively reducing the term of your loan. Make extra repayments on your home loan. By paying as little as an extra $10 per week on a $180,000 loan will reduce your loan term by nearly 2 years and save you up thousands in interest. ## Offset account Take full advantage of the extra features available on your home loan, such as a 100% offset account. An [offset account](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/ "How do Offset Account Home Loans work?") holding $10,000 linked to the average mortgage could save you thousands over the loan term and about 2 years off a 30 year term. As you can see it is hard to argue with numbers like these. If your home loan doesn’t have facilities such as an Offset Account or weekly payments then maybe it’s time to discuss your options with a [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/ "What does a mortgage broker do and 8 reasons why you should use one"), someone who will be able to guide you through all the different loan product options that are available in today’s market. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-pay-your-home-loan-off-sooner/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-pay-your-home-loan-off-sooner/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-pay-your-home-loan-off-sooner/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-pay-your-home-loan-off-sooner/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-pay-your-home-loan-off-sooner/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-pay-your-home-loan-off-sooner/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20pay%20your%20home%20loan%20off%20sooner&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-pay-your-home-loan-off-sooner%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-pay-your-home-loan-off-sooner/#print?share=print) - **Categories:** Interest Rates **Tags:** home loan, mortgage broker, mortgage offset loan, mortgage repayments --- ### [How to increase your borrowing potential for an investment mortgage](https://www.oceanhomeloans.com.au/how-to-increase-your-borrowing-potential-for-an-investment-mortgage/) **Published:** January 29, 2015 **Author:** Brad Kirwan **Content:** Choosing the right **investment mortgage** really depends on your particular financial goals, there are many different borrowing options and strategies available and not all banks and lenders treat an assessment for property investing the same way, here are 5 ways to help you increase your borrowing capacity: ## Negative gearing Not all lenders utilise negative gearing benefits when assessing your borrowing capacity, only if your portfolio is positively geared would you consider one of these lenders, knowing which lenders utilise the benefits of negative gearing is essential. ## Rental income Depending on the bank, you will be able to use between 75% and 100% of the rental income in their borrowing capacity assessment, know which lenders use the full 100% of the rental income. ## Borrowing capacity It is possible to increase your borrowing capacity with several banks by choosing a [fixed rate investment home loan](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/ "Product Focus – Fixed Rate Home Loan") of 3 years or greater, know which lenders assess your borrowing capacity differently for fixed rate lending of 3 years or greater. ## Extra income All banks differ in the way that they assess overtime, bonuses, commission, allowances, trust distributions, dividends & [self-employed income](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/ "Self Employed Home Loan – using add backs to incease your borrowing capacity"), know which lenders to use to maximise the assessment of any extra income. ## Other investment mortgage debt If you have other investment loans, most banks will assess these at their benchmark rates, potentially adding up to 2 per cent to the actual rate you are paying, reducing your investment mortgage borrowing capacity substantially, know which banks allow servicing of these loans at their actual interest rates. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-increase-your-borrowing-potential-for-an-investment-mortgage/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-increase-your-borrowing-potential-for-an-investment-mortgage/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-increase-your-borrowing-potential-for-an-investment-mortgage/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-increase-your-borrowing-potential-for-an-investment-mortgage/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-increase-your-borrowing-potential-for-an-investment-mortgage/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-increase-your-borrowing-potential-for-an-investment-mortgage/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20increase%20your%20borrowing%20potential%20for%20an%20investment%20mortgage&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-increase-your-borrowing-potential-for-an-investment-mortgage%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-increase-your-borrowing-potential-for-an-investment-mortgage/#print?share=print) - **Categories:** Investing **Tags:** fixed interest rates, investment mortgage, investment property, negative gearing, property investors --- ### [Why you should be thinking of a home loan refinance](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/) **Published:** February 10, 2015 **Author:** Brad Kirwan **Content:** With interest rates dropping to unheard of levels, now is the perfect time to consider a home loan refinance, by reducing your repayments or consolidating those high interest rate debts, leaving you with extra money in your pocket each month. You could also take advantage of those lower repayments to pay extra on your mortgage and reduce the term of your loan, bringing you ever closer to being mortgage free. With a wide range of lenders and loans to choose from, there is every chance you may be able to secure a better deal with another lender. ## Benefits of a home loan refinance If you think you’re paying too much, contact your [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/ "What does a mortgage broker do and 8 reasons why you should use one"), who can work through hundreds of different loan products and help you obtain a lower rate and lower fees and who will also be able to illustrate the benefits of refinancing your current home loan, the following are just some of the reasons why a refinance now could benefit you now and into the future. #### Consolidating Debt Moving those high interest debts like a credit cards, personal loans and store cards into one low rate loan via your mortgage. It means you have just one set of paperwork to manage, one loan to pay and it can also offer big savings by reducing your monthly payments in total. #### Switch to a fixed rate With home loan interest rates at historical lows, now my be the time to lock in a fixed rate, if you’d prefer the certainty that your repayments will stay the same for a period of time, switching to a fixed rate could save you thousand were interest rates to rise. #### Looking for specific features When you first took out your mortgage some features may not have been available or came at a cost, such as a simple redraw facility, many [basic home loans](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans – What Makes it Basic?") don’t offer redraw or allow an [offset account](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "Offset Account Home Loans – Pay Your Loan Off Sooner") to be established. Refinancing to obtain these features could save many and possibly reduce your loan term. #### Renovating to add value One of the most common reasons for a home loan refinance is to access the equity that has built up over time for renovations or additions to property, this can make it possible to upgrade your home and add value if you decide to sell. #### Getting a better deal The most popular reason mortgage holders choose a **home loan refinance** is to obtain a lower interest rate and reduce their monthly repayments. With interest rates at historical lows and lenders fighting for you home loan business, there has never been a better time to review your home loan to see if there is a better rate available. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Why%20you%20should%20be%20thinking%20of%20a%20home%20loan%20refinance&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhy-you-should-be-thinking-of-a-home-loan-refinance%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/#print?share=print) - **Categories:** Refinance **Tags:** home loan refinance, mortgage broker, mortgage offset loan, mortgage repayments --- ### [Cut takes interest rates to an historic low](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/) **Published:** February 3, 2015 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia has offered a welcome boost to homeowners and businesses this afternoon when it chose lower **interest rates** by 0.25%. The cash rate now sits at the all-time low of 2.25%. While the news may have mortgage holders celebrating, there are also other reasons for cheer, including signs that the Australian economy is steady and the housing market is booming, particularly in capital cities. “Home prices are at record highs across Australia and annual price growth of 8 per cent remains well above the long-term average growth rate of 4.8 per cent.” Says CommSec’s chief economist Craig James. Melbourne and Sydney house prices continue to be on the rise, says CoreLogic head of research Tim Lawless. “From January 2009 through January 2015 Sydney home values have increased by 57 per cent,” Melbourne’s housing values followed with a 50 per cent increase over those years. ## Lower prices equals lower interest rates Families around Australia will also be benefiting from low petrol prices – in fact, a Deutsche Bank economist recently stated that “lower petrol prices are putting the equivalent of two rate cuts worth of savings into the pockets of households.” With interest rates falling and the continuing slide in the Australian dollar, though not great news for people travelling overseas, it’s a boost to the economy, with the RBA confident that it’s now sitting approximately where it should be. Add to that a strengthening credit growth, solid retail sales and ongoing job growth – topped off with another possible cut to rates in the coming months – and 2015 is set to be a good year for families and mortgage holders. If you want to prepare for a bumper year with the lowest interest rates ever, please don’t hesitate to call us – we’re here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Cut%20takes%20interest%20rates%20to%20an%20historic%20low&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fcut-takes-interest-rates-to-an-historic-low%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/#print?share=print) - **Categories:** Interest Rates **Tags:** home loan, interest rates, mortgage broker, mortgage repayments, variable interest rates --- ### [What home loan should I choose?](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/) **Published:** February 17, 2015 **Author:** Brad Kirwan **Content:** Choosing the correct **home loan** for your particular needs is a very important process when it comes to purchasing a property, it’s not necessarily as straight forward as you think. There’s more to knowing the right mortgage than finding the cheapest rates, most banks and lenders have a suite of mortgages – and the one that’s right for you depends on a number of factors. ## Borrowing purpose Are you a first-time home-owner? Are you buying an investment property? Are you selling your current home and buying another one? If so, how much equity do you have in your current home? Whatever your situation, you’ll most likely have access to the majority of home loan options your lender can provide. The one that’s right for you depends on your circumstances. ## Home loan types available They can vary from lender to lender, but generally include: - **Standard Variable Rate**. This is the most popular home loan, offering a good mixture of features, flexibility, fees and rates. With this type of mortgage, you make extra payments without incurring a penalty, access a line of credit or [split your loan between fixed and variable rates](https://www.oceanhomeloans.com.au/product-focus-combination-or-split-loan/ "Product Focus – Combination Loans or Split Loans"). This of course comes at a cost – the interest rate is higher than a basic variable loan, but this can be part of a lenders [Professional Package](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans"), which will offer an interest rate discount. - **Basic Variable Rate.** While offering a low interest rate, this is a no-frills mortgage. You may not need redraw, [offset](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/ "What is a 100% Mortgage Offset Loan Account?") or repayment features today, but keep in mind that your situation may change over the course of the mortgage. - **Fixed Interest Rate**. Even though this rate will be higher than the variable rate, the main benefit is that, for the agreed term (usually between 1 to 5 years) you’ll know exactly how much your mortgage repayments will be from month to month. Popular during times of low interest rates, but be sure rates aren’t going to go any lower before signing up. - **Split Rate**. This offers you a certain amount of security in being able to fix a percentage of your mortgage, while having access to some of the flexibility that a variable home loan offers. Almost like an each way bet, it’s popular when rates are low and are set to begin rising again. - **Honeymoon Rate**. These enticing loans offer a low interest rate for between one and four years, then switch over to the current variable rate. They can be either fixed or variable – the disadvantage of a fixed honeymoon rate is that, even if interest rates continue to drop, your mortgage repayments won’t. - **Redraw Facility**. To be able to use a redraw facility, you need to make additional mortgage payments on top of your minimum mortgage loan repayment schedule first. If you make additional payments but don’t use the redraw facility, you’ll pay your mortgage off more quickly. ## Different repayment options Basically, there are two standard repayment options: - **Interest Only**. You repay only the interest that has accrued on your loan. The principal remains the same until the end of the agreed term, then the mortgage will convert to Principal and Interest repayments. - **Principal and Interest**. Both the amount borrowed and the interest accrued are repaid over the agreed term. ## Do your homework first As you can see, for a home loan there are a wide range available to you and it’s really worth doing your research to determine which one is the best choice for you. Don’t be afraid to speak to a variety of lenders. Better yet, a [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/ "What does a mortgage broker do and 8 reasons why you should use one") will do all the hard upfront work for you and give you the lender and package that appears to offer you the best range of benefits over the long-term. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20home%20loan%20should%20I%20choose%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-home-loan-should-i-choose%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, home loan, mortgage broker, mortgage repayments --- ### [How a mortgage broker can help you](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/) **Published:** February 19, 2015 **Author:** Brad Kirwan **Content:** Why do more and more Australians turn to a **mortgage broker** to help with their home loan borrowing options, there are many reasons and with so many lenders and literally thousands of mortgage products to choose from, finding the right one can be time-consuming, difficult and frustrating. Finance brokers also called credit advisers are the only people who can sift through all the different lenders and home loan offerings to give you the answers and help you get the right mortgage products. In fact, more than half of all Australian mortgages are now arranged through a broker. ## Experts Mortgage brokers are specialists providing expert advice and guidance on mortgage products, interest rates and current housing market conditions. Their knowledge is derived from selling only mortgage and mortgage related products. ## Choice Brokers have access to a large network of lenders and as a result their clients have the best choice of rates and products. With a large network of major lenders to choose from, your mortgage broker can source your ideal mortgage option from banks, credit unions, non-traditional lenders and more. ## Protect your credit rating Rate-shopping on your own can actually be hazardous to your credit rating. Every time a lender [checks your credit file](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/ "Keeping your credit history clean"), an entry is recorded on your credit file. Too many enquiries and your credit rating can weaken, possibly affecting the rate and terms of your mortgage. ## All lenders one place Shopping at several banks can be frustrating, inefficient and extremely time-consuming. Your broker can show you product offerings from a large panel of lenders with just one visit. ## Personal attention Mortgage brokers are able to work one-on-one with each individual client, evaluate their specific needs and find a lender that suits them personally. You will ultimately receive a mortgage plan that is customized for you and meets your unique requirements. ## A free mortgage broker service The services of a mortgage broker are at no cost to you. In general, the lender pays a commission to your broker for the services and solution provided and this is always disclosed to you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20a%20mortgage%20broker%20can%20help%20you&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-a-mortgage-broker-can-help-you%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, home loan, home loan refinance, mortgage broker --- ### [Investment property a firm favourite](https://www.oceanhomeloans.com.au/investment-property-a-firm-favourite/) **Published:** February 27, 2015 **Author:** Brad Kirwan **Content:** Following a strong run in many locations in 2014, sound investment fundamentals and low interest rates continue to make well-selected investment property an attractive investment selection in 2015 and with fixed interest rates at levels unheard of in living memory, now is the chance for savvy investors to lock in their yield for years to come. A record number of investors hit the real estate market last year, creating a buying and selling frenzy across many parts of the country. According to Domain Group’s senior economist Andrew Wilson, a colossal 14,500 homes were listed for auction over September to December, compared to 12,584 for the same period in 2013. Over the course of 2014, capital city house values grew by 7.9%. Gains were strongest in Sydney, with year on year growth of 12.4%. With the Reserve Bank of Australia reducing the official cash rate to a historical record low of 2.25% at its February meeting, and a rise in interest rates unlikely in the short to medium term, property is likely to remain a popular investment option. But it’s not just low interest rates that make property a popular investment option. Here are some of the key reasons for property’s persistent appeal: ## It’s simple Investment property has proven itself to be a trusted wealth creation tool that is often easier to understand than other complex investment options. And with a long-term investment approach and a good property manager it can largely be a set-and-forget type asset, that doesn’t require daily input on an investor’s behalf. ## Steady investment property returns Property offers both the potential for capital growth over time as well as ongoing passive income in the form of rent – a compelling combination for long-term wealth creation. ## Your dollar goes further Many lenders will finance up to 90 per cent of the value of the property based on the lender’s valuation – generally more than is available for other asset classes and in some cases they will lend up to 95% of the properties value. ## Manufacture capital growth Smart improvements can quickly push a property’s price upwards, enabling investors to speed up returns. With the heady spring and summer months now behind us and low borrowing costs continuing, autumn could prove a good time to buy for many. Remember, if you’re looking to explore the **investment property** market, it pays to have your finances in order so you can be ready to act when the right property pops up. Getting an indication of your [borrowing capacity](https://www.oceanhomeloans.com.au/6-tips-to-increase-your-home-loan-borrowing-capacity/ "6 Tips to increase your home loan borrowing capacity") will also help you to narrow your property search appropriately. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/investment-property-a-firm-favourite/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/investment-property-a-firm-favourite/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/investment-property-a-firm-favourite/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/investment-property-a-firm-favourite/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/investment-property-a-firm-favourite/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/investment-property-a-firm-favourite/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Investment%20property%20a%20firm%20favourite&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finvestment-property-a-firm-favourite%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/investment-property-a-firm-favourite/#print?share=print) - **Categories:** Property **Tags:** borrowing capacity, interest rates, investment property, rental property --- ### [Interest rates remain on hold](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold/) **Published:** March 3, 2015 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia Board has announced a hold on official interest rates, which still sits at an all-time low of 2.25%. Last month’s cut was a welcome boost to the Australian economy. As mortgage holders see a drop in their minimum monthly repayment, many are choosing to use this time to their [advantage by paying more](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/ "6 tips to pay your home loan off faster and achieve financial freedom"), effectively shortening the term of their loan. In fact, AMP Chief Economist Shane Oliver says that the average person who “…already (has) a mortgage are choosing to pay it off as quickly as they can.” Australian home loan customers are, on average, 24 months ahead on their mortgage repayments. ## Low interest rates boost mortgage lending As well as current mortgage holders, investors are also cashing in on last month’s cut. In February, Westpac recorded a 10% lift in home loan applications since the last rate cut. For homeowners, particularly those in capital cities, there’s more good news. Data released by CoreLogic RP Data reveal that the average capital city home prices increased by 0.3 per cent last month, taking the annual rise to 8.3 per cent. Adding to this, the recent update that Australian consumer confidence has risen 2.4% in the past fortnight. So it seems that 2015 is set to be a bumper year and with **interest rates** set to stay low for the foreseeable future, now more than ever is the time to enter the property market. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20rates%20remain%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-remain-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loans, interest rates, mortgage broker, mortgage repayments --- ### [How super is your superannuation fund](https://www.oceanhomeloans.com.au/how-super-is-your-superannuation-fund/) **Published:** March 5, 2015 **Author:** Brad Kirwan **Content:** If you’re determined to build a prosperous financial future, a superannuation fund needs to be part of your wealth creation strategy, according to recent research from asset managers Mercer, one in four Australians are likely to outlive their retirement savings given current life expectancies. So what can you do to make sure your super is in strong shape? ## Work out how much you will need to retire Retirement income calculators on ASIC’s MoneySmart website can help you assess the amount of superannuation you can expect to accumulate, what you should aim towards for a comfortable retirement and any gaps between these figures. Check your current super balance to measure whether you are on track to achieve the figure you need. You should be able to check this on your super fund’s website regularly to help monitor your progress and adjust your contributions or investments if needed. ## Review your investment package If your balance is not accumulating as you’d hoped, most funds offer several options within the investment package you choose based on your situation. ## Help build your super balance Considering a [self-managed super fund](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/ "SMSF Borrowing – When is a Super Fund allowed to borrow to invest") (SMSF): If you have a high super balance and are a keen investor, managing your own fund may give you more control and potentially save cost. ## Salary sacrifice Contributing more to your super each pay cheque can be an easy, tax-free way to build your balance if it fits your financial situation. ## Consolidation If you’ve worked in multiple jobs, visit the Australian Taxation Office (ATO) website to check if you’ve got multiple super accounts and consolidate to save on fees. ## Invest lump sums One-off windfalls such as a tax return or inheritance, could be used to top up your super. ## Compare other superannuation funds Research the financial performance and fees of other **superannuation** funds, to weigh up whether you could potentially get better results elsewhere. Consider your [life insurance and income protection](https://www.oceanhomeloans.com.au/have-you-protected-your-family-by-insuring-your-mortgage-repayments/ "Have you Protected your Family by Insuring your Mortgage Repayments?") cover first to make sure you have the appropriate cover. Seek financial advice if you’re unsure. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-super-is-your-superannuation-fund/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-super-is-your-superannuation-fund/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-super-is-your-superannuation-fund/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-super-is-your-superannuation-fund/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-super-is-your-superannuation-fund/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-super-is-your-superannuation-fund/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20super%20is%20your%20superannuation%20fund&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-super-is-your-superannuation-fund%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-super-is-your-superannuation-fund/#print?share=print) - **Categories:** Investing **Tags:** insurance, investors, self managed super fund, superannuation --- ### [A softer outlook for 2015 but investment property still hot](https://www.oceanhomeloans.com.au/a-softer-outlook-for-2015-but-investment-property-still-hot/) **Published:** March 10, 2015 **Author:** Brad Kirwan **Content:** Australia posted only moderate economic growth in 2014. A sustained weakness in terms of trade, a reduction in income growth and ongoing political issues took a toll on consumer sentiment. However, there seemed no limit to investors’ appetite for real estate, with all sectors of the market showing considerable gains and the investment property market going from strength to strength. So what can we expect in 2015? ## Interest rates The Reserve Bank of Australia (RBA) kicked off 2015 by [reducing the official cash rate](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/ "Cut takes interest rates to an historic low") to 2.25 per cent – the first change in monetary policy since August 2013 and one of the most intensely anticipated decisions for some time. Speculation continues as to exactly when interest rates will begin to track upwards again, but in any event it seems unlikely that we’ll see a dramatic lift upwards in borrowing costs for either owner occupied or investment property any time soon, with economic conditions expected to remain soft. In his statement on 3 February 2015, RBA Governor Glenn Stevens said that in Australia, the available information suggests that growth is continuing at a below-trend pace, with domestic demand growth overall quite weak. “Overall, the Bank’s assessment is that output growth will probably remain a little below trend for somewhat longer, and the rate of unemployment peak a little higher, than earlier expected. The economy is likely to be operating with a degree of spare capacity for some time yet,” Mr Stevens said. Broad consensus is that economic growth will remain soft in 2015. Investment bank Goldman Sachs’ chief economist Tim Toohey has forecast gross domestic growth for 2015 of just 2%, while Westpac has predicted growth of 2.5%. ## Investment Property According to the latest CoreLogic RP Data Home Value Index, the annual rate of home value growth in Australia peaked at 11.5% across the combined capitals over the 12 months to April 2014, prior to the rate slowing to 7.9% in December 2014. Houses performed better than units over the calendar year, with house values gaining 8.4% compared with a 5.1% increase in unit values. “Based on the median price across the combined capital cities, houses are attracting a $100,000 premium over apartments,’” said CoreLogic RP Data research analyst Cameron Kusher. CoreLogic RP Data expects property values will continue to increase in 2015, at least across the combined capital cities. However, the rate of **investment property** capital gain is likely to continue to soften. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/a-softer-outlook-for-2015-but-investment-property-still-hot/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/a-softer-outlook-for-2015-but-investment-property-still-hot/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/a-softer-outlook-for-2015-but-investment-property-still-hot/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/a-softer-outlook-for-2015-but-investment-property-still-hot/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/a-softer-outlook-for-2015-but-investment-property-still-hot/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/a-softer-outlook-for-2015-but-investment-property-still-hot/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20A%20softer%20outlook%20for%202015%20but%20investment%20property%20still%20hot&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fa-softer-outlook-for-2015-but-investment-property-still-hot%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/a-softer-outlook-for-2015-but-investment-property-still-hot/#print?share=print) - **Categories:** Investing **Tags:** interest rates, investment property, investors, property investment --- ### [Are you looking for home renovation finance](https://www.oceanhomeloans.com.au/are-you-looking-for-home-renovation-finance/) **Published:** March 12, 2015 **Author:** Brad Kirwan **Content:** Have the wave of home improvement shows on television inspired you to carry out a home renovation? Whether it’s big or small, an investment project or home extension you’ve been dreaming about for years, the big question is – how are you going to pay for it? Here are some options to consider: #### Extend your mortgage If you’re planning an extensive **home renovation**, one of the most common ways to finance your project is to increase your current mortgage. This can be helpful as you spread the cost out over a long period. #### Personal loan A simple and cost-effective option for financing smaller scale renovations. The interest rates on personal loans are generally higher than home loans, but they typically have a fixed interest rate that stays the same for the full term of the loan. This can be useful for budgeting, but the catch is you can’t usually make additional repayments to get ahead and reduce costs. #### Credit card A convenient and flexible option if you already have a card with a high enough credit limit. However, it might be costly if you don’t pay the debt within the interest free period. #### Home equity loan or line of credit These products enable you to use your home as an asset for additional borrowing. This allows you to borrow money at a lower interest rate compared to a personal loan or credit card and can usually be drawn up to the approved limit at any time. To find out more about the renovation financing options, be sure to get in touch. ## Avoid a home renovation budget blow-out Setting a budget is essential for successful renovation. Research your costs thoroughly and [review your budget weekly](https://www.oceanhomeloans.com.au/home-renovations-do-your-homework-first/ "Home Renovations – Do your homework first") to make sure you stay on track. #### Consider DIY A great way to save money on your renovation is DIY on easy things like painting, landscaping and other non-structural jobs. #### Be creative Small changes like changing wall colours, updating light fittings and smart decorating can have just as big an impact as larger scale alterations when taking on a home renovation. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/are-you-looking-for-home-renovation-finance/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/are-you-looking-for-home-renovation-finance/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/are-you-looking-for-home-renovation-finance/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/are-you-looking-for-home-renovation-finance/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/are-you-looking-for-home-renovation-finance/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/are-you-looking-for-home-renovation-finance/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Are%20you%20looking%20for%20home%20renovation%20finance&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fare-you-looking-for-home-renovation-finance%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/are-you-looking-for-home-renovation-finance/#print?share=print) - **Categories:** Property **Tags:** budget, equity, home improvements, home loan refinance, home renovation --- ### [How to get the maximum benefit from a Home Loan Offset Account](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/) **Published:** March 24, 2015 **Author:** Brad Kirwan **Content:** You’ve most likely heard the term Home Loan Offset Account, you may even have one yourself, happy in the knowledge that you’re doing something to pay your mortgage off sooner. It’s actually one of the most powerful tools you have, allowing you to save thousands – even hundreds of thousands – of dollars over the life of your mortgage. But – are you REALLY taking advantage of that Offset Account? ## What is a home loan offset account? An offset account is a transaction account that is linked to your home loan. The credit balance of your transaction account is ‘offset’ daily against the outstanding balance of your loan, thus reducing the interest payable on that loan. Over time, this can really add up to large savings and reduce the time it takes to pay off your loan. If you put as much money as you can into your transactional account that’s linked to your mortgage, you can save interest each day that your money is there. Your mortgage is calculated on the full amount of your remaining debt MINUS any offset funds you have accumulated. In other words, your mortgage will no longer be calculated on your full debt. Here’s an example: say you have a home loan balance of $200,000 and have $10,000 in your offset account. So, you’ll only pay interest on $190,000 of your home loan. In short, an offset account offers you more flexibility. You’ll be paying off your mortgage quicker, but still have access to your funds if you need them. ## What to look for There are both full (100%) and partial offset accounts. With 100% offset accounts, interest rates are earned and paid at the same time, while a partial offset account is where the interest earned is only a portion of the rate paid on the home loan. ## What you can do There are a few steps you can take to make sure you get the most out of your home loan offset account. Have your wages deposited in your transaction account, so the money you earn is immediately helping to reduce the interest you pay on your home loan. Even though you will most likely spend some of that money over the month it’s still of use. Another example – let’s say that you get paid on the 15th of every month but your mortgage repayment comes on the 28th. Even though there’s only 13 days between them, you’ll be saving the difference in interest on the amount in your account for that period of time, which can eventually add up to thousands. Any savings or lump sum payments you receive should go directly into this account. Again, you’ll still have access to the money if you need it, but the longer it stays in the account, the more interest is paid off. ## Is an offset account for you? An offset account is useful if you, like many people, can’t pay [lump-sum repayments](https://www.oceanhomeloans.com.au/6-tips-to-pay-your-home-loan-off-faster-and-achieve-financial-freedom/ "6 tips to pay your home loan off faster and achieve financial freedom") into your loan. You may be saving up for something specific – like renovations, holiday or school funding. You can use that money wisely before you cash it out for the reason you’re saving it. However, it’s wise to make sure there’s still some money left in the account, as fees can rise once your account sinks past a certain amount. An offset account will really only work if you have a decent amount of savings. If you only have a few thousand dollars on a regular basis, your savings won’t be significant. A final word – if you do decide to set up a **home loan offset account**, beware – they’re not all created equal. Some have high fees, especially if the amount of savings in your account drops on a regular basis, so do your homework before signing up. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20get%20the%20maximum%20benefit%20from%20a%20Home%20Loan%20Offset%20Account&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-get-maximum-benefit-from-a-home-loan-offset-account%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/#print?share=print) - **Categories:** Loans **Tags:** home loan, home loan offset account, mortgage offset loan, mortgage repayments, variable interest rates --- ### [There's never been a better opportunity to pay your home loan off sooner](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/) **Published:** March 26, 2015 **Author:** Brad Kirwan **Content:** If you have a variable home loan, you’ll be celebrating the fact that the Reserve Bank of Australia has recently cut the cash rate, as well as the fact that the RBA Governor, Glenn Stevens, has stated that the Australian economy is suited to continuing low rates for some time. ANZ Chief Economist, Warren Hogan, said that Australians have more disposable income available now than they have for many years, but many are taking advantage of the situation by paying off their mortgage’s faster. Around three-quarters of those recently surveyed are, on average, seven repayments ahead on their home loans, and over half of them said they planned to keep their repayments at the same level for the foreseeable future. So, here’s your chance to be mortgage free as soon as possible. ## Save thousands It’s a pretty simple equation – the more you put into your mortgage the more your **home loan** will reduce. The more it reduces, the less interest you pay. And the less interest you pay, the sooner you can pay your mortgage off. If you can, it’s wise to continue to pay the same amount per repayment as you did two years ago – in other words, if your bank lowers your interest rates, you continue to pay the larger amount. If you have an automatic debit in place, you can either contact them to see if you can fix a repayment amount, or make sure you add the extra amount every month. If any extra money comes in, that’s even better. The more you can put on your mortgage, the more it will help – even if it’s a few hundred dollars here and there, it all adds up. ## Do your home loan sums Let’s say that you have a $300,000, 30-year loan at 5.08% p.a. interest. Your repayments are $1,625 a month. By increasing your repayments by just $100 a month, you can pay off your loan more than three and a half years sooner and save $42,000 in interest. It gets better – if you can increase your payments by another $100 a month, and your mortgage could be paid in full after just 23 years, with interest savings of more than $73,000. Another way to [reduce your mortgage](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/ "A Simple Home Loan Mortgage Reduction Technique") is to make repayments more often – if your repayments are monthly, make them fortnightly. There are 26 fortnight’s in a year, but only 12 months, so you’ll effectively be paying 13 repayments per year. ## Historic lows = great opportunity The General Manager of Home Loans at the Commonwealth Bank, Dan Higgins, says that “with historically low interest rates, it’s good to see many borrowers are taking the opportunity to get their finances in order, pay down debt and give themselves more room to move.” Are you already reducing your home loan? If not, now’s the time – and it’s easier than you think. Call us now to find out how. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20There%27s%20never%20been%20a%20better%20opportunity%20to%20pay%20your%20home%20loan%20off%20sooner&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftheres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, interest rates, mortgage repayments, variable interest rates --- ### [Are first home buyers suffering from an affordable housing shortfall?](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/) **Published:** March 31, 2015 **Author:** Brad Kirwan **Content:** There’s been a lot of talk over the past few years regarding the affordability of housing across Australia for **first home buyers**, particularly in major cities such as Sydney and Melbourne. There is truth to this – interest rates are at a record low of 2.25%, which encourages investors to enter the property market, thus bumping up prices. In a recently released report, the IMF revealed that Australia has the third least affordable housing prices in the world, behind Belgium and Canada. This is fantastic for people who’ve owned a house for many years – not so good for those who are yet to enter the market. However, government’s across the board recognise the need to make sure that housing is affordable now and in the future. In fact, the Commonwealth Government’s Intergenerational Report has highlighted that over the next 40 years Australian housing prices will grow at 2.8% per annum. So, what’s being done about it – and if you’re a first home buyer, what can you take advantage of? ## Inner-city high-density apartment Many people think that the only way is up. A recent surge in building approvals was boosted by a strong lift in apartment blocks and townhouses. This increased by 19.6% in January, while the 12 months leading up to January saw approvals lifted 23.6%. Demographer Bernard Salt has stated that a change in housing developments is required for the coming decades, with more emphasis on inner city high-density apartments. “While low-skilled factory work retreats and evaporates from the suburbs, forcing today’s Australians to change, if not to question, the model of their metropolitan lives.” He states. “Why would you live in the sparse, lifeless and frankly naff suburbs when you could choose to live amid the – vibrancy and the opportunity of all the inner city has to offer?” In the future, there will most likely be more high-density accommodation in ‘pockets’ of living, where people can work and live close-by. This won’t be right for everyone – you may be cringing right now with the thought of it – but new generations will become more used to this fact and adapt accordingly. ## Government schemes The need for assistance from both State and Federal Governments has been acknowledged for some time now. The Intergenerational report cites the need for an increased spend in infrastructure, including roads and public transports, while governments are think-tanking how to allow first home buyers to step into the property market. The Federal government is currently looking at a variety of options. Although investors are being blamed for first time buyers being frozen out of the market, most people believe that pulling back negative gearing is off the table. However, there are a range of other options being floated around such as the ability to access superannuation in order to raise money for a deposit, or the possibility of being able to pay off stamp duty over a fixed term. The availability of first home owner grant options vary from State to State, but may include the First Home/New Home schemes, First Home Owners Grant, New Home Owner Grant and Regional Relocation Schemes. But local governments need to be part of the solution as well for first home buyers, ensuring infrastructure is maintained and the proper checks and balances on building application approvals are set, including an increase in aged care as large segments of the population nears the twilight years. ## The first home buyers fine print No one has a crystal ball, so the truth is so-called experts can only make suppositions as to what the future holds for affordable housing. So if you or anyone you know is tearing their hair out, there are three simple recommendations for first home buyers, save as much as you can, do your homework and be flexible with the locations you’re looking at. Once you’re in the property market, the only way is up. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Are%20first%20home%20buyers%20suffering%20from%20an%20affordable%20housing%20shortfall%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fare-first-home-buyers-suffering-from-an-affordable-housing-shortfall%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, first home buyers, first home owner grant, interest rates --- ### [Could you be tempted by the lenders latest home loan offers?](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/) **Published:** April 2, 2015 **Author:** Brad Kirwan **Content:** There’s a lot of competition for Australia’s $1.3 trillion home loan market and one could be easy to be dazzled or confused by the variety of offers available. Indeed, some of the deals might sound more like those on offer from car dealers than the banks, but that’s what happens interest rates are low and every lender is keen to grab a share of the market. ## Home loan cash back offers In recent times, the deals have included cash discounts, $1000 gift cards to help with moving costs, cash rebates, holidays and even petrol discounts from one non-bank lender. A recent report by JP Morgan found that all the major banks were enticing borrowers with home loan rate discounts, with especially generous deals being offered to wealthy borrowers. “There’s been a huge spike in the number of lenders offering cash back sweeteners to borrowers, especially refinancers,” said Kirsty Lamont of Mozo, the interest rate comparison website. “With interest rates so low, banks are having to find other levers to pull.” However, Canstar research analyst, Mitchell Watson, warned buyers to not be taken in by these types of incentives and suggests you would be wiser to focus on who offered the lowest interest rates and most flexible loans. “While $1000 will help you now, a lower rate will help you over the next 5 to 15 years,” he said. Wise words, indeed. ## How to stay one step ahead Overall, the combination of low interest rates on offer and lenders keen to secure your business has to be positive for anyone thinking about buying a property in the near future. Nevertheless, there are some important points that require your attention: The interest rate isn’t the only key comparison figure, the ‘comparison rate’ based on $150,000/over 25 years includes fees and charges, so provides a more valid comparison with other lenders. Always shop around and speak to [the smaller lenders](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/ "Home Loans – Banks vs Non-Bank Lenders") as well as the big banks – they may offer more competitive rates. Remember, if you are able to negotiate a lower rate, it could save you many thousands of dollars down the track. Ultimately, there’s no one-stop-shop solution. In fact, there’s no substitute for doing your homework to make sure you find the right lender for you. Lenders are keen to do business, so take your time and don’t feel pressured – get it right and you could reap the financial rewards for decades. That’s where we can leverage our relationships and industry knowledge to bring you the best **home loan** deal tailored to your needs – simply call us and we do the rest. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Could%20you%20be%20tempted%20by%20the%20lenders%20latest%20home%20loan%20offers%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fcould-you-be-tempted-by-the-lenders-latest-home-loan-offers%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, interest rates, mortgage repayments --- ### [Interest rates remain at historic lows](https://www.oceanhomeloans.com.au/interest-rates-remain-at-historic-lows/) **Published:** April 7, 2015 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia has left official interest rates on hold – it remains at 2.25%. This comes as continuing good news for mortgage holders, who are experiencing a low rate of monthly repayment, which provides a welcome budgetary relief (and perhaps some spare spending money). Meanwhile, the housing market continues to be sizzling hot – building approvals are at their highest level in history and property prices skyrocketing, particularly in Sydney, where prices rose by 3% in March and almost 14% over the past year. ## Historical low interest rates The combination of an historical low interest rate and increase in new dwellings will no doubt be welcome news for those who are looking to invest in property. With the Australian population inching towards 24 million people, the need for rental properties has never been greater. For those who are simply happy to see their monthly mortgage payment decrease, today’s news will also be a boost to savings. More people are getting ahead on their mortgage repayments. The General Manager for home loans at the Commonwealth, Dan Huggins says that “With historically low **interest rates**, it’s good to see that many borrowers are taking the opportunity to get their finances in order, pay down debt and give themselves more room to move.” So, whether you’re looking to invest in property or simply want to make sure that these historically low interest rates are to your advantage, feel free to give us a call – we’re here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-remain-at-historic-lows/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-remain-at-historic-lows/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-remain-at-historic-lows/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-remain-at-historic-lows/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-remain-at-historic-lows/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-remain-at-historic-lows/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20rates%20remain%20at%20historic%20lows&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-remain-at-historic-lows%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-remain-at-historic-lows/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loans, interest rates, mortgage broker, variable interest rates --- ### [Interest rates drop to all time low of 2%](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/) **Published:** May 5, 2015 **Author:** Brad Kirwan **Content:** For the second time this year, the Reserve Bank of Australia has announced a cut to official interest rates, which now sits at 2%. This cut has been widely predicted by economists. The RBA is pleased that housing construction is now picking up the economy as investment in mining declines. To add to this good news for mortgage owners, the national auction clearance rate this weekend was the third-highest rate ever, and the highest since September 2009. ## Low interest rates means greater options The cut in interest rates is set to see an even greater push in people’s interest in the housing market – whether they are moving up the property ladder or investing, the options are set to increase. People who are considering selling can be buoyed by high clearance rates and particularly strong market in capital cities such as Sydney and Melbourne. The number of options on the market is set to rise with this move, therefore buyers will have a far wider range of choices. First time buyers are looking to benefit as well, with a boom in development of apartments. The Australian Bureau of Statistics has revealed that a growth in the approval for building apartments has grown by 1.8% in March to 19,333 – the tenth monthly rise in a row. St George senior economist Hans Kunnen recently stated that “monetary policy is having a positive impact on economic activity.” So, if you are selling or buying, investing or getting a foot on the property ladder, with **interest rates** this low there may not be a better opportunity to look at your options. If you’d like to weigh up your next steps, please feel free to give us a call at any stage. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20rates%20drop%20to%20all%20time%20low%20of%202%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-drop-to-all-time-low-of-2%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, first home buyers, home loan refinance, interest rates, variable interest rates --- ### [The 2015 Budget - what's in it for you?](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/) **Published:** May 26, 2015 **Author:** Brad Kirwan **Content:** There’s no doubt that this year’s **budget** was designed to be completely different from the previous, with young families, small business and farmers the big winners. Far from being controversial the announcement has in general been welcomed, with many commentator’s referring to it as the ‘have a go’ budget. Here’s a summary. ## Young families The government has set aside $3.5 billion to make child care more affordable through the introduction of a means tested Child Care Subsidy, replacing the childcare benefit/rebate. The government wants to encourage more people into the workforce, therefore an amount of child care hours subsidised will be “closely aligned” to how much time a parent spends working, training, studying or volunteering. ## Superannuation and pensioners Although there are no changes to superannuation, there is a range of measures for pensioners: This includes an increase in the assets test threshold for the age pension, whilst increasing the test taper phase-out rate. Terminally ill people will also have earlier access to superannuation. ## National security $450 million has been set aside to boost national security by giving various intelligence agencies more resources. Money is allocated to boost the technological capabilities of Australia’s intelligence gathering agencies, train the new border protection service (the Australian Border Force) and for social media monitoring (to help counter the online extremist dogma of groups like Islamic State). Money has also been set aside to help the telecommunications industry to comply with the new metadata laws (which forces telcos to store the metadata of their customers for two years). ## Small business The budget contains new initiatives in the “Jobs and Small Business” package, which applies to businesses with aggregated turnover of less than $2 million. It provides immediate deductibility for asset purchases up to $20,000, and a tax rate to 28.5%. Unincorporated entities can enjoy a 5% tax discount (capped at $1,000). ## Rural Australia Farmers battling drought will get a lifeline, with $250 million set aside to continue the Drought Concessional Loan Scheme for one more year. Other benefits for farmers include the ability to claim fences and new water storage as tax write-offs, as well as money will be made available to help farmers in drought-affected areas to lessen the impact of pest animals. Road infrastructure for cattle supply chains in the north, a boost to infrastructure in drought-affected areas via the establishment of a new grants system and a portion to go toward extending social and community support services for an extra 20 local government areas. There will also be an extra $1.8 million for more counselors in rural areas. ## Other budget highlights - 30 multinational known tax-avoiders have been targeted to pay more tax in Australia. - Backpackers will now pay 32.5% tax from the moment they arrive and earn in Australia. - The so-called ‘Netflix tax’ will see the government set to profit from overseas businesses supplying digital products and services to Australians – these will be subject to GST from 1 July 2017. It is expected to raise $350 million for the states in the first two years. - The current $41.1 billion deficit is projected to be reduced to $35.1 billion by 2015-16, falling to $6.9 billion in 2018-19. Certainly, all budgets will rustle a few feathers, but overall, this is a cautious one. Perhaps this year we can expect an easier transition and less media attention over the coming 12 months. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%202015%20Budget%20-%20what%27s%20in%20it%20for%20you%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-2015-budget-whats-in-it-for-you%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/#print?share=print) - **Categories:** Property **Tags:** budget, first home buyers, investors, self managed super fund --- ### [Interest rates remain on hold again](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-2/) **Published:** June 2, 2015 **Author:** Brad Kirwan **Content:** After last month’s historic cut in **interest rates**, the RBA has adopted a ‘wait and see’ approach, leaving the official cash rate at an all time low of 2%. This came as no surprise – in fact, not one of the 28 economists surveyed by Bloomberg is expecting the RBA to drop interest rates any further this month. The property market remains buoyant – although home values dropped 0.9% in May, this is being blamed on the usual seasonal factors. ## Low interest rates driving house values Corelogic RP Data May figures released yesterday also show dwelling values rose 3.8% over the first four months of the year and 9% over the past 12 months. “The weaker reading across the May results is likely to be short-lived, with the Index expected to show better growth next month,” says Tim Lawless, CoreLogic RP Data head of research. If you’re wondering whether the colder months means it’s time to hold off selling until Spring, this may not be the case – auction clearance rates are still at a record high, particularly in Sydney. With some retail sectors getting ready to take advantage of the tax breaks to small businesses that were announced in the May Federal Budget, this plays well with the fact the small business confidence remained steady in April. And with confidence comes intent to buy. This may well extend to the housing market – so if you’re considering selling or buying, the winter months may just be the perfect time. So with interest rates continuing to remain at record lows now could also be the time to review your current lending requirements, as always, if we can help you in any way, please don’t hesitate give us a call – we’re here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-2/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-2/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-2/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-2/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-2/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-2/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20rates%20remain%20on%20hold%20again&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-remain-on-hold-2%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-2/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, mortgage repayments, property investors, variable interest rates --- ### [Is There More Growth in the Real Estate Market?](https://www.oceanhomeloans.com.au/is-there-more-growth-in-the-real-estate-market/) **Published:** June 9, 2015 **Author:** Brad Kirwan **Content:** Cast your minds back to the start of 2014. There we were, twiddling our thumbs, wondering if the **real estate market** would ever recover from the GFC and return to those golden years of growth in the early 2000s. None of us could have anticipated the growth we experienced in our capital cities in 2014. But where does this leave us for the rest of 2015 and into 2016? ## Capital cities Let’s begin with Sydney. After a stellar year in 2014 that saw the real estate market rise by 13.9%, Sydney is expected to rise again by another 8% this year. It’s forecasted that Hobart and Canberra are set for more growth over the next year, with Hobart expected to rise from 2.1% to 4%, and Canberra to scale from 0.9% to 2%. After seeing great rises in 2014, Melbourne and Brisbane are expected to plateau over the next year at 4% and 6% respectively. ## The real surprise The surprise package that has everyone excited is the upsurge of Darwin. After experiencing a loss in growth in 2014, Darwin went from -2.5% to being expected to grow by as much as 2%. After a really good decade of growth, Darwin has dropped off the top of the list in the past 2 years, and against what some experts had predicted, has re-established itself as one of Australia’s [best places to invest](https://www.oceanhomeloans.com.au/investment-property-hot-spots-what-to-look-for/) in housing. ## Real estate market auction clearance rates Last month, we witnessed an ‘auction frenzy’, as one weekend saw an unbelievable 79% of auctioned properties sold nationally. That is the second highest level in data going back almost seven years. One look at the growth graph below reveals why – buyers are seeing no end to these price rises.  ## What does all this mean for you? 2014 capped off a year that saw capital city homeowners add an average of 7.9% in value to their properties, and experts are again forecasting more growth. Prices in our capital cities have more or less doubled in the last 10-12 years, and in particular parts of those metropolitan areas it has gone through the roof. What we all need to figure out for ourselves is not ‘*when* should I buy or sell’, but rather ‘*where’.* Some say that, if you’ve considered selling, there’s never been a better time. And with the national real estate market set for more growth in the up-coming years, cities such as Hobart, Canberra and Darwin have emerged with great opportunities for buyers and sellers alike. Keep your eyes on the market, and if you have any questions please feel free to give us a call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/is-there-more-growth-in-the-real-estate-market/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/is-there-more-growth-in-the-real-estate-market/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/is-there-more-growth-in-the-real-estate-market/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/is-there-more-growth-in-the-real-estate-market/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/is-there-more-growth-in-the-real-estate-market/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/is-there-more-growth-in-the-real-estate-market/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Is%20There%20More%20Growth%20in%20the%20Real%20Estate%20Market%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fis-there-more-growth-in-the-real-estate-market%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/is-there-more-growth-in-the-real-estate-market/#print?share=print) - **Categories:** Property **Tags:** home loan, interest rates, property investment, real estate market, rental property --- ### [6 ways to add value to your investment property](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/) **Published:** June 23, 2015 **Author:** Brad Kirwan **Content:** Whether you’re looking to sell or upgrade, there are a few sure-fire ways to add value to your investment property with some clever cosmetics. Here are our best tips: ## A fresh lick of paint One of the quickest and easiest ways to give your property a new look and coordinated interior or exterior is a fresh coat of paint. Painting can be relatively inexpensive, whether you decide to do it yourself or hire professionals. Look out for this season’s new colour forecast’s for the latest trends. ## Update your investment property fittings One of the first things buyers or renters tend to look at are the doors and cupboards, lights, locks, curtains and blinds. Make sure these fittings are all functional, and consider upgrading any old or mismatched fittings. ## Kitchen refresh Redoing an entire kitchen can be expensive but the kitchen is one of the most important rooms in an investment property. Many buyers or renters prefer an open-style kitchen so if you have a traditional closed-room kitchen you may want to consider removing a wall. If you’re not looking to make structural changes, you can replace benchtops, sinks or even cupboard fittings as a quick, inexpensive way to spruce up the kitchen. ## Buff the bathroom Everyone likes a sparkling bathroom, so pay close attention to cracked tiles, worn or mouldy seals and leaking taps. Like kitchens, bathrooms should also be stylish, modern and functional. Replacing broken towel racks or dripping shower heads can make a big difference, while new mirrors and lighting can be a great finishing touch to make the bathroom feel more spacious. ## Add a bedroom The three major factors that drive a property’s price are the location, land size and number of bedrooms. While you may not be able to change the first two, adding a bedroom can make a significant change in the value of the property. Make sure you speak with an architect for this sort of renovation and don’t forget you’ll need council approval for your plans. ## The great outdoors Australians love the outdoors, a real attraction for buyers or renters is space where they can entertain, just by simply turning a small balcony area into an outdoor entertaining area with a barbecue and herb garden can add value, there are endless possibilities for your extra outdoor space. Before you start any **investment property** renovations, think about your budget. Speak to your [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/) to understand your financing options and needs. They are passionate about helping you realise more value through your property. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20ways%20to%20add%20value%20to%20your%20investment%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsix-ways-to-add-value-to-your-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/#print?share=print) - **Categories:** Property **Tags:** home improvements, investment property, mortgage broker, rental property --- ### [Steady as she goes for both property investors and home owners](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/) **Published:** June 30, 2015 **Author:** Brad Kirwan **Content:** It’s important to understand what’s driving the Australian economy, especially when you’re a homeowner, hopeful first home buyer or property investors. The last year has been a steady one for the Australian economy. It hasn’t fired up, but it hasn’t slowed dangerously, which is good news. NAB lowered its overall growth forecast for FY2015/16 to 3% in March (from 3.2%). Why? Weaker business investment, a slightly higher unemployment rate, and weak domestic consumption mean slower overall growth. ## House prices and property investors With so much data available on how national and local housing markets are faring, it’s not hard to stay informed on how property values are developing. According to CoreLogic RP Data, Capital city dwelling values rose by 0.3% in February, that brings overall growth to 8.3% in the 12 months to February 2015. Tim Lawless, CoreLogic RP Data’s head of research, says we might not see the lower interest rate environment stimulate the housing market as much as in the past. “Weaker jobs growth, higher unemployment, declining affordability, low rental yields and political uncertainty are all factors that could dent consumer confidence,” he points out. Sydney and Melbourne are still the strongest markets across Australia for property investors, with yearly growth up 13.7% and 7.4% respectively by the end of February 2015. The $400,000-$600,000 price bracket accounts for the largest proportion of both house and unit sales in 2014. Hobart remains the most affordable capital city for housing, as the only capital with over 5% of house sales below $200,000. In contrast, almost one-third (31.6%) of all house sales were over $1 million. Housing investment and building approvals continue to remain steadily strong, despite attempts to tighten foreign investment rules. NAB expects to see similar or stronger growth in dwelling investment over the next year. As your [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/) we’re always happy to point you towards the latest research and data on the economy and housing markets for **property investors**, home owners or first home buyers, or if you are interested in obtaining an updated valuation on your property, touch base today. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steady%20as%20she%20goes%20for%20both%20property%20investors%20and%20home%20owners&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsteady-as-she-goes-for-both-property-investors-and-home-owners%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/#print?share=print) - **Categories:** Property **Tags:** first time home buyer, home loan refinance, property investment, property investors --- ### [No Surprises as RBA Leaves Interest Rates On Hold](https://www.oceanhomeloans.com.au/no-surprises-as-rba-leaves-interest-rates-on-hold/) **Published:** July 7, 2015 **Author:** Brad Kirwan **Content:** With the housing market showing no signs of abatement, the Reserve Bank of Australia has decided to let things be, keeping official **interest rates** at the all-time low of 2%. The cuts in February and May this year have made the housing market the talking point at every Australian get-together, with the Sydney and Melbourne markets remaining particularly buoyant. The RBA is also pleased at the fall of the Australian dollar, taking pressure off the economy by helping Australian export industry. Although overseas holidays are more expensive at the moment, it’s terrific for people coming the other way – Australian tourism is booming, which is fantastic for the economy. ## Dollar falling with low interest rates Shane Oliver, chief economist at AMP Capital, said signs the drop in the Australian dollar has already shown benefits. “The rate of growth of tourist – arrivals, is running well above rate of growth of departures, for the first time since the 1990s,” he said. The housing construction sector is also benefiting from the nation’s record low interest rates. St George chief economist Hans Kunnen is bullish, stating “we expect economic growth in 2015 of 2.4 per cent, rising to 2.9 per cent in 2016.” While the Australian Prudential Regulation Authority (APRA) and banks are making moves to ease the pressure on [first homebuyers](https://www.oceanhomeloans.com.au/first-home-buyers-get-smart-get-approved/) and families wanting to move up the property ladder, it’s a good time to consider making a move. So with interest rates continuing to remain at record lows now could also be the time to review your current lending requirements, as always, if we can help you in any way, please don’t hesitate give us a call – we’re here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-surprises-as-rba-leaves-interest-rates-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-surprises-as-rba-leaves-interest-rates-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-surprises-as-rba-leaves-interest-rates-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-surprises-as-rba-leaves-interest-rates-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-surprises-as-rba-leaves-interest-rates-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-surprises-as-rba-leaves-interest-rates-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20Surprises%20as%20RBA%20Leaves%20Interest%20Rates%20On%20Hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-surprises-as-rba-leaves-interest-rates-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-surprises-as-rba-leaves-interest-rates-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, first home buyers, interest rates, mortgage broker, mortgage repayments --- ### [The future of the Interest only loan](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/) **Published:** July 14, 2015 **Author:** Brad Kirwan **Content:** It’s not as easy as it once was to apply for an interest only loan. Over the last couple of months lending for this type of investment loan has been tightened in an effort to slow the pace of record growth in investment home loans. Lenders are under pressure by government regulatory bodies to make it less attractive to take out interest-only loans, a strategy which is hoped will protect investors and achieve sustainable growth in the home loan market. Lenders have responded to the crack-down in different ways. Some now ask for larger deposits for investor loans or have scrapped discounts they previously offered. Others have begun to price loans with principal and interest repayments cheaper than those with an interest only loan. Still others now offer better discounts on owner occupied loans or allow investors to borrow less than owner occupiers. ## Which way to turn? As these changes are not uniform across the industry, but vary from lender to lender, it has been difficult for investors to know which way to turn. We have had many clients come to us worried about whether the changes affect their existing loans or what they should do when they make a change or try to restructure their loan. A mortgage broker is always in touch with the latest changes occurring in the industry and can seek out the best options to suit your particular needs. ## Should you take out an interest only loan? Interest only loans can be a tax-effective way to invest in property, but they are most effective when accompanied by [advice and tax planning](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/). Because the monthly repayments are minimal for a specified amount of time (usually between 1-5 years), it offers great way to save money and free up funds in the short-term for other investments, renovations or to pay off non-tax deductible debt like credit cards and car finance. However problems start when the interest only period ends and borrowers who haven’t planned their finances carefully are unable to pay off the principal amount, along with the interest. If property prices fall and you are forced to sell, you may end up selling for a loss. The other drawback to the **interest only loan** is you are only paying the interest charged, your original loan amount doesn’t reduce because you are not paying any of it back, which equates to a considerably higher cost over the full term of the loan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20future%20of%20the%20Interest%20only%20loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-future-of-the-interest-only-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/#print?share=print) - **Categories:** Investing **Tags:** interest only loan, investors, mortgage broker, mortgage repayments --- ### [Mortgage Brokers more popular than ever](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) **Published:** July 21, 2015 **Author:** Brad Kirwan **Content:** Mortgage brokers are now responsible for writing over half of Australia’s home loans and are valued for their choice, expertise and convenience, according to a new survey commissioned by the Mortgage and Finance Association of Australia (MFAA). From a 49.9 per cent share of the market in the March 2014 quarter, total new home lending to mortgage brokers increased to 51.9 per cent in the March 2015 quarter. Over this time there was a $44.2 billion increase in mortgage lending across Australia and brokers were responsible for 71 per cent of this increase, Australian Bureau of Statistics data reveals. Brokers were also found to be proficient at matching the right product to customer’s needs. In fact 30.2 per cent of broker initiated home loans went to smaller lenders, demonstrating that brokers offer consumers real choice and have access to a wider range of mortgage products than banks or other financial organisations. ## Investors look to Mortgage Brokers Investors in particular are convinced of the value of using a [mortgage broker](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/), with research showing that 40.5 per cent of broker originated loans are from investors. Owner-occupiers follow closely behind at 37 per cent of broker-originated loans, then first home buyers at 14 per cent and commercial borrowers at 6.0 per cent. Lenders are also complimentary of the role of **mortgage brokers**. Those interviewed for the MFAA study said lenders were moving to a partnership model with brokers, whereby both work together to provide customers with the most appropriate proposition. Great news for customers! ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Mortgage%20Brokers%20more%20popular%20than%20ever&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fmortgage-brokers-more-popular-than-ever%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/#print?share=print) - **Categories:** Mortgage **Tags:** first home buyers, home loan, mortgage broker, mortgage brokers, mortgage repayments --- ### [No change in interest rates again](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/) **Published:** August 4, 2015 **Author:** Brad Kirwan **Content:** It’s the first Tuesday of the month, and that means that the members of the Reserve Bank of Australia have met over lunch to discuss the official **interest rates**. Today (and as predicted by the majority of Australian economists) the members have decided to keep the cash rate at 2%, which continues to be good news for all mortgage holders. In fact, there’s only one topic that everyone is talking about at the moment. The housing market is front and centre – not just in capital cities but all across the country as well. There is a distinct trend in price growth between houses and units nationally – compared to this time last year, house values are up 11.6% and units 7.2% increase across the board. ## Interest rates keep dollar low Jason Beddow MD of the investment firm, Argo, says that low interest rates and a depreciated currency were expected to be a bonus for the economy. “The recent fall in the Australian dollar should provide some support for our domestic economy as we move into 2016, and we feel that the housing market is likely to remain robust, due to the continued support of accommodative monetary policy.” While the falling dollar isn’t great if you’re planning an overseas trip, it’s great for the country. The drop boosts tourism and makes it easier for overseas buyers to purchase Australian goods and services. So all in all, this means more money is injected into the Australian economy. With all the talk in the housing market surrounding interest rates, are you wondering what your best [home loan](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/) option is? Call us and we can go through the possibilities – right now there’s more choices than ever. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20change%20in%20interest%20rates%20again&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-change-in-interest-rates-again%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, interest rates, mortgage broker, variable interest rates --- ### [What do the lending changes mean for your investment property portfolio?](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/) **Published:** August 11, 2015 **Author:** Brad Kirwan **Content:** In December 2014, APRA, the prudential regulator of the Australian financial services industry, announced an increase in the level of supervisory focus on residential **investment property** mortgage lending. This announcement was directed at Authorised Deposit-taking Institutions (ADIs) – corporations authorised under the Banking Act 1959 including banks, building societies and credit unions – and was a response to a number of indicators: strong growth in investment property loans, high Australian household debt, accelerating credit growth and historically low interest rates. APRA reiterated the seriousness of its intentions in May of this year, with chairman Wayne Byres saying that: “ADIs with more aggressive practices should fully expect to find APRA increasingly at their doorstep.” On the upside, APRA did not introduce across-the-board increases in capital requirements or caps on any particular types of loans, but focused its attention on a few key areas. ## Higher–risk mortgage lending Lending that is considered “higher risk” includes high loan-to-income loans, high loan-to-valuation loans, interest-only loans to owner-occupiers, and loans with very long terms. APRA warned ADIs that increases in this type of lending could trigger further supervisory action. Investor Impact: ADIs are likely to make it harder to get a loan without a decent deposit or with limited cash flow. ## Investment property loan growth APRA set a benchmark of 10 per cent portfolio growth for lending by ADIs for investment property loans – ADIs exceeding this threshold may attract further scrutiny. Investor Impact: ADIs will probably try to slow their investor loan portfolio growth so that they don’t exceed APRA’s benchmark. This could include removing discounts on investment property loans, so cheap credit may be harder to come by. ## Serviceability assessments Serviceability means a borrower’s ability to make their loan repayments. APRA said that ADIs should include an interest rate buffer of at least 2% and a “floor” lending rate of at least 7% when assessing serviceability. Investor Impact: If you’re thinking about taking out an investment property loan, base your calculations on a 9% interest rate (7% “floor” plus 2% buffer) for a safe amount to borrow. Many ADIs put such buffers in place when interest rates first reached historic lows. ## Increased capital requirements Additionally, on 20 July, APRA announced an increase in the amount of capital that a number of ADIs will have to set aside for certain Australian residential mortgages exposures. The change comes into effect on 1 July 2016 and impacts those ADIs accredited to use the internal ratings based (IRB) approach to credit risk. Investor impact: Affected ADIs may look for ways to offset the increased capital requirement which may mean that discount rates may be harder to find. Different lenders are taking different approaches to meeting the APRA guidelines, increasing the complexity of investment property home loan approvals. If you would like help in navigating lender requirements or would like to know more about how these changes could affect your personal situation, get in touch with your [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) today. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20do%20the%20lending%20changes%20mean%20for%20your%20investment%20property%20portfolio%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-do-the-lending-changes-mean-for-your-investment-property-portfolio%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, interest rates, investment property, mortgage broker, property investment --- ### [7 tips to help you win at a property auction](https://www.oceanhomeloans.com.au/7-tips-to-help-you-win-at-a-property-auction/) **Published:** August 18, 2015 **Author:** Brad Kirwan **Content:** Going to a **property auction** can be a gamble, but there are a few simple things you can do to help win your dream home. ## Kick the tyres first Inspect the property multiple times with the right specialists. Consider any required inspections – including building and pest – before you go to a property auction. Engage a solicitor or conveyancer to review the sale contract. Once you exchange contracts, there’s no turning back! ## Check the rules The rules for participating in auctions may differ across the States and Territories. You should check with your solicitor, conveyancer or real estate agent, if you are unsure of the rules that apply. In some States or Territories, you may need to register to bid at auction. Find out whether you need to take formal ID to bid. ## Make sure your finances are in place Make sure that your loan pre-approval is good to go. Don’t forget that pre-approvals only last for a certain period, so if you’ve been looking around for a while, make sure it’s still current. If you are the winning bidder, you may need to pay a deposit straight away. Find out whether this is the case and make sure that you have the funds available ## Do your homework Do in-depth [research on the property’s market value](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/) and valuation expectations. Analyse the pros and cons of the property’s characteristics such as size, location, physical condition and proximity to amenities and compare to other similar properties that have recently sold. This important information can help you determine the price you’re willing to bid. ## Get familiar with the auction process Attend auctions where you are not planning to bid on the property, so that you can watch and learn how they work. Observe the processes and any strategies the winning bidder employs that seem effective. If you find the whole thing overwhelming, you may want to consider taking on a buyer’s agent or asking a family member to bid on your behalf. ## Property auction day tips Try to ensure you have direct line of sight to other bidders and the auctioneer. Get ready to pounce back with your bids quickly after a competing bid. Look the auctioneer in the eye, then announce your bid clearly and confidently. Try to stand by yourself and do not turn to your support crew for guidance. These actions may give other bidders the impression that you have a lot of cash in your pocket, and may discourage them from bidding against you. Consider making your first bid close to around the reserve price. This indicates that you are serious about buying the property and moves the auction into a more realistic phase. ## Set your limits Doing so ensures that you bid in a strategic manner and with more confidence. This may help to reduce doubt as you submit your bids and prevent you getting emotionally competitive or over-extending. Be prepared to go to a figure like A$793,000 rather than A$790,000. This is a relatively small difference in the context of the overall price, but it can be enough to dissuade other bidders and help you win at the property auction. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/7-tips-to-help-you-win-at-a-property-auction/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/7-tips-to-help-you-win-at-a-property-auction/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/7-tips-to-help-you-win-at-a-property-auction/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/7-tips-to-help-you-win-at-a-property-auction/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/7-tips-to-help-you-win-at-a-property-auction/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/7-tips-to-help-you-win-at-a-property-auction/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%207%20tips%20to%20help%20you%20win%20at%20a%20property%20auction&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F7-tips-to-help-you-win-at-a-property-auction%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/7-tips-to-help-you-win-at-a-property-auction/#print?share=print) - **Categories:** Property **Tags:** auction, borrowing capacity, mortgage broker, property auction, property investing --- ### [6 essential first home buyer budgeting tips](https://www.oceanhomeloans.com.au/6-essential-first-home-buyer-budgeting-tips/) **Published:** August 25, 2015 **Author:** Brad Kirwan **Content:** Buying your dream home is one of the biggest and most exciting purchases you are ever likely to make. Saving the necessary deposit as a **first home buyer** can be difficult without making a few adjustments to your finances. Spring cleaning your budget is an important step in helping make this dream a reality. The first port of call is to look at how much you want to spend, how much you already have saved and any additional fees and charges that you may incur when making your purchase. Budgeting helps manage your spending and regular outgoings and allows you to direct the surplus into savings. When preparing your budget as a first home buyer, it is important to consider your current financial situation by working out your priorities, how much you need for basic living expenses and the little things that you can do without. ## First Home Buyer Budget basics - Begin your budget by listing all sources of regular income. There are plenty of online resources and templates that you can use to start. - Collect your bank statements, bills, accounts and other regular expense records to give you an indication of how much you spend each month. - List your outgoings (with large items first) by breaking them down into two sections: fixed and variable. Fixed expenses don’t change from month to month and include things like: car loans, rent, personal loans repayments etc. Variable expenses change regularly and include groceries, utility bills, eating out and entertainment. - If you categorise your expenses, you have the flexibility to start by making reductions to the non-essential items in the variable spending before addressing your fixed and more essential items. - Compare your expenses against your income to and work out where adjustments can be made. If you find that you are not left with as much as you wish, even the smallest changes can make a difference. - Give yourself a realistic timeline and encourage yourself to stick to your budget. If you have an exciting goal to achieve, the sacrifices are more than worth it. Now you are well on your way the becoming a first home buyer, so once you have your budget in place and a target set, get in touch with a [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/) who will be able to assess your personal situation and give you the added knowledge you need to be ready to purchase your first home. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-essential-first-home-buyer-budgeting-tips/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-essential-first-home-buyer-budgeting-tips/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-essential-first-home-buyer-budgeting-tips/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-essential-first-home-buyer-budgeting-tips/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-essential-first-home-buyer-budgeting-tips/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-essential-first-home-buyer-budgeting-tips/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20essential%20first%20home%20buyer%20budgeting%20tips&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-essential-first-home-buyer-budgeting-tips%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-essential-first-home-buyer-budgeting-tips/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, budget, first home buyer --- ### [No surprises as interest rates stay on hold](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-on-hold/) **Published:** September 1, 2015 **Author:** Brad Kirwan **Content:** Despite the recent turmoil on the stock markets, the Reserve Bank of Australia has remained firm and steady, keeping official interest rates at a record low of 2%. Most analysts predicted this and believe it will remain on hold for the foreseeable future. ## Low interest rates bring stability Stability is welcomed in spring, as the already hot property market begins to warm up further. Buyers come out into the sunshine, which means that sellers follow suit. This spring is set to be particularly active, with the fluctuating stock market, investors are parking their money in property. St George Bank chief economist Hans Kunnen says that in the past month, investors are looking to the housing market. “Property is an answer. They say, ‘I’m not having a bar of the share market; I’ll stick with bricks and mortar’.” It’s no surprise because the housing market has been the talk of the country all year. From 1 January to the end of July, the national capital average price climbed by 9.8%, proving the housing boom isn’t just in the capital cities. Take Cairns and Far North Queensland in general – the lower Australian dollar has made Australia once again a popular tourist destination and, judging by the housing market, a popular real estate market. Now that the winter months are over, **interest rates** looking set to stay low for some time to come, it’s time to dust off your options? As always, we’re here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20surprises%20as%20interest%20rates%20stay%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-surprises-as-interest-rates-stay-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, mortgage broker, property investors, variable interest rates --- ### [The 2014/2015 property market in review](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/) **Published:** September 8, 2015 **Author:** Brad Kirwan **Content:** From today’s vantage point, the 2014/2015 financial year was certainly an interesting one, especially for the **property market**. We saw interest rates cut further to bring them to the lowest levels in a generation, helping to fuel higher capital city house prices. We also saw the ongoing effects of the end of the mining boom and a fall in the value of the Australian dollar, good news for exports, but less so for Australians travelling (or shopping) overseas. And although lower interest rates were a plus for those paying off mortgages, consumer sentiment was wary. Australians were working to pay off debt, and were most concerned about funding their retirement and the future of their families. ## Property Market Prices Bubble or no bubble? The first RBA meeting for the 2015/2016 year saw no change to interest rates, as expected. February and May’s cuts, bringing the cash rate to a historic low of 2.0%, helped capital city housing values to climb almost 10% last financial year. Is it a bubble and will it burst this year? That depends on who you talk to, but a closer look at the capital cities data shows that while Sydney’s house price growth for the period was a whopping 16.2%, Darwin’s was negative ,at -2.9%. So, if there is a bubble, it’s certainly not nationwide. And CoreLogic RP Data’s head of research, Tim Lawless, suggests that unless there’s a serious trigger event such as higher unemployment or higher interest rates: “… it is unlikely we will experience a significant correction in dwelling values.” But he does sound a note of caution: “However, the longer this run of growth continues across our largest capital cities, the more susceptible the property market becomes to changes in the economy or broadly across household finance.” ## 2015/2016: What to expect So what’s ahead? The International Monetary Fund (IMF) predicts for Australia that over the next couple of years: “… activity should gradually pick up … supported by strong resource exports, accommodative monetary policy, and rising confidence”. The RBA has kept rates low to support borrowing and spending, while keeping a close eye on the housing market, especially Sydney and Melbourne markets. Although an increase in the cash rate could potentially cap those house price rises, it could also put a dampener on business borrowing and consumer confidence, both vital for the economy. It’s a juggling act. Anyone planning to buy a home or investment property needs to look closely at the data for their area, and be aware that any future movement in rates is likely to be up. As for the Australian dollar, according to the RBA, further falls (mostly against the US dollar) are ‘both likely and necessary’. It might be a good idea to get that overseas holiday in now. If you would like to know more about our FY15 property market wrap up, and how it could affect your personal situation, get in touch today. We’re always happy to offer advice, research, and the latest facts to assist. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%202014%2F2015%20property%20market%20in%20review&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-20142015-property-market-in-review%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/#print?share=print) - **Categories:** Property **Tags:** home loan, interest rates, mortgage broker, property investors, property market --- ### [Home Loan Growth Continues](https://www.oceanhomeloans.com.au/home-loan-growth-continues/) **Published:** September 15, 2015 **Author:** Brad Kirwan **Content:** More Australians are looking to take out a **home loan** to purchase property, a trend that began well before the traditional influx of borrowers for the start of spring. Mortgage applications have been rising steadily for 12 months and peaked at 12.5 per cent in the June quarter, according to the latest Veda Quarterly Consumer Credit Demand Index. ## NSW leads home loan growth New South Wales and the ACT experienced the largest growth in mortgage applications at 21 per cent and 19.5 per cent respectively. This was followed by Victoria at 13.3 per cent, Queensland at 11.7 per cent and South Australia at 8.1 per cent. The two [interest rate cuts](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/) by the Reserve Bank in the June quarter are believed to be behind the strong mortgage pickup. Some of the growth can also be explained by consumers switching between providers as the low interest rate environment has encouraged many to [shop for a better deal on their mortgage](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/) finance. With interest rates at their lowest for more than 50 years, it comes as little surprise that more and more Australians are exploring the benefits of purchasing and investing in property. There are great rates and features available if you know where to look. Talk to us and let us do your home loan leg work for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/home-loan-growth-continues/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/home-loan-growth-continues/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/home-loan-growth-continues/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/home-loan-growth-continues/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/home-loan-growth-continues/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/home-loan-growth-continues/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Home%20Loan%20Growth%20Continues&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhome-loan-growth-continues%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/home-loan-growth-continues/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, investment property, property investors --- ### [How will the changes to investment loans affect you?](https://www.oceanhomeloans.com.au/how-will-the-changes-to-investment-loans-affect-you/) **Published:** September 22, 2015 **Author:** Brad Kirwan **Content:** The importance of a knowledgeable mortgage broker has come sharply into focus following the recent banking system changes to investment loans. Many panicked borrowers have turned to mortgage brokers like us, for guidance in the months since the Australian Prudential Regulatory Authority (APRA) directed the major banks to place limits on investment lending and hold more funds in capital reserves. With each bank responding individually to the directive, the changes in policy and pricing have varied wildly from one lender to the next. There has been confusion among borrowers and concern about how current and future investment lending is affected. ## Investment loans affected by the APRA changes If you fall into any of the below categories, you may well be affected by some of the changes. - First time investor who had planned on getting into the market with a high loan to value ratio using mortgage insurance - Seeking **investment loans** without a 20 percent deposit - Off the plan property investor who has paid a 10 per cent deposit, with plans to finance the remaining 90 per cent of purchase price on settlement - Existing investor with a variable loan - Investor with multiple properties with plans to release equity to purchase another property - Investor with high levels of SMSF lending - Investor trying to maximise borrowings or with plans to refinance investment loan ## Seek advice from your mortgage broker With all these changes and still more to come, it’s little wonder that borrowers are turning to mortgage brokers. While banks can in some cases only offer one solution, a broker with 25-30 plus lenders on their panel and years of inside industry experience can provide a number of solutions and recommendations. A knowledgeable mortgage broker can make the world of difference to which direction you take with your investment. Here are just some of the tips we give our clients. Non-banks do not currently have the same restrictions on investment lending and have become a popular alternative for investor activity. Some people don’t realise their loan type is ‘investment’ and are now paying a higher rate of interest for no reason. It commonly happens when you initially purchase your home as an investment property, then down the track move into it but never change your loan type from ‘investment’ to ‘home loan’. Some lenders will bend their lending guidelines or offer you a better deal if you are in a ‘preferred’ occupation such as a doctor, dentist, pharmacist, legal professional or teacher. The less you borrow, the more lenders will be inclined to approve applications for investment loans. Aim to boost your deposit through savings or by reviewing your current assets. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-will-the-changes-to-investment-loans-affect-you/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-will-the-changes-to-investment-loans-affect-you/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-will-the-changes-to-investment-loans-affect-you/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-will-the-changes-to-investment-loans-affect-you/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-will-the-changes-to-investment-loans-affect-you/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-will-the-changes-to-investment-loans-affect-you/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20will%20the%20changes%20to%20investment%20loans%20affect%20you%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-will-the-changes-to-investment-loans-affect-you%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-will-the-changes-to-investment-loans-affect-you/#print?share=print) - **Categories:** Loans **Tags:** investment loans, investment property, investors, mortgage broker, property investment --- ### [5 Reasons to Style your Home for Sale](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/) **Published:** September 29, 2015 **Author:** Brad Kirwan **Content:** Styling your **home for sale** is not a new concept but it has grown in popularity as anecdotal evidence suggests it can help your property sell faster and for a better price. Displaying a property’s full potential with property styling (also known as property staging) can be as simple as removing or adding a few decorative pieces or as extensive as refurnishing the entire home. Here’s 5 reasons why many real estate agents recommend it. ## Makes a great first impression It’s often said that a buyer makes a decision about whether they like a property in the first 30 seconds, so property styling can create this ‘wow’ factor. Introducing the right combination of colours and textures, furniture, art and soft furnishings can bring out the best in a property, making small rooms appear more spacious and cold spaces feel warm. ## Brings more people through the door on inspection day With so many buyers doing their research online, it’s important to impress at this first stage with great photographs that prompt people to visit the open house. ## Helps buyers visualise the property’s potential Most buyers don’t have the vision to mentally furnish and decorate a vacant room, or to see past clutter or outdated furniture. Home styling can paint a picture for buyers; it can show the potential for storage and it can demonstrate how well a space can be used. Turning a home study into a second bedroom or adding a dining space to the open plan living area, for example, will broaden the property’s market appeal. ## A Styled Home for Sale Provides a competitive edge A staged home for sale will stand out among the competition and is more likely to be remembered at the end of a long day of showings. ## Encourages the buyer to see themselves living there Allowing the buyer to mentally move in to your property is an important step in the selling process and home styling can help with this by removing personal items, from framed photographs and fridge memorabilia to toothbrushes and razors in the bathroom. Instead of distracting the buyer into thinking about who currently lives in the property, a styled home for sale gives buyers a reason to dream about wanting to live there. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20Reasons%20to%20Style%20your%20Home%20for%20Sale&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-reasons-to-style-your-home-for-sale%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/#print?share=print) - **Categories:** Property **Tags:** first home buyers, home for sale, home renovation, investment property, rental property --- ### ["No change" say the RBA, as interest rates stay on hold](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/) **Published:** October 6, 2015 **Author:** Brad Kirwan **Content:** All the pundits were proved correct as the RBA announced that, once again, interest rates continue to stay on hold at the low cash rate of 2%. Needless to say, this is also very positive news for all Australian mortgage owners (and those who are looking to enter the property market). The RBA’s decision to keep **interest rates** on hold reflects an increasingly positive mood for Australia’s prospects. Some believe the recent change in leadership will be highly influential – for example, the most recent ANZ/Roy Morgan weekly confidence index rose a dramatic 8.7% following the appointment of Malcolm Turnbull as prime minister. Elsewhere, the number of businesses with a positive outlook has risen to the highest level since January 2014. In the Australian, economist, Stephen Koukoulas, said firms are benefitting from ongoing low interest rates and what is now a very competitive level for Australia. ## Low interest rates bringing confidence This confidence can be seen in many other sectors: jobs are holding up well along with pay rates, exports are looking good, tourism is on the rise, household savings are strong and, because we’re staying home more, we’re spending less overseas and more on our own shores. Homeowners are so positive, they’re spending up big on home renovation, knowing that it will reap them rewards further down the track when they want to sell. Meanwhile, there’s no shortage of choices for those looking for a hot property, and with interest rates predicted to remain low for some time to come, there has never been a better time for buying, selling or investing, so give your [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) a call to see what can be done for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20%22No%20change%22%20say%20the%20RBA%2C%20as%20interest%20rates%20stay%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-change-say-the-rba-as-interest-rates-stay-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan refinance, interest rates, mortgage repayments, property investment --- ### [3 ways to benefit from the low interest rate environment](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/) **Published:** October 13, 2015 **Author:** Brad Kirwan **Content:** With the official interest rate at rock bottom, now is the time to get ahead with your home loan. A little planning and forward thinking could have you well on the way to paying home loan off sooner. ## Overpay on your monthly repayments Just because your interest rate has decreased, doesn’t mean you need to drop your repayment amount. In fact, why not increase your repayments as if rates were already higher, or alternatively, round-up your repayment to the nearest hundred dollars. Just putting an extra $50 on your home loan repayment every month can save you close to $14,000 in interest over the life of a standard loan (based on a loan of $300,000, 5% interest rate and 25 year loan term) . ## Fix your interest rate You can lock in all or part of your loan for the long-term so you can enjoy a low rate for years to come. A fixed loan provides security against the uncertainty of rate rises, keeping in mind that if rates go up by 1.0 per cent, your monthly repayment would increase by around $220 for a $350,000 30-year loan. ## Use offset or redraw These home loan features allow you to build a buffer against **interest rate** rises by providing a facility for you to place extra saved funds for a ‘rainy’ day. With an offset account, you can earn interest on your savings, which is offset against the interest you’re paying on your loan. Interested in how to benefit from reduced rates? Ask your [mortgage broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/) to show you how . ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%203%20ways%20to%20benefit%20from%20the%20low%20interest%20rate%20environment&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F3-ways-to-benefit-from-the-low-interest-rate-environment%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rate, mortgage repayments, offset account, redraw --- ### [4 Tips on How to be Home Loan Paperwork Ready](https://www.oceanhomeloans.com.au/4-tips-on-how-to-be-home-loan-paperwork-ready/) **Published:** October 20, 2015 **Author:** Brad Kirwan **Content:** Putting together the paperwork needed for **home loan** approval is a task many prospective home buyers dread. We see many happy faces when we tell people that as a mortgage broker we can help simplify the paperwork process because we know what lenders are looking for when it comes to assessing an application for a home or investment loan. The paperwork that lenders require can be significant, and it is important to give them not only the correct documentation, but also the full list they require. Sending your home loan application to the lender with missing documents can result in the loan application going back and forth without result or even derail the application altogether. ## Home Loan Assessment Lenders assess your application by evaluating the risk involved with repaying the loan. While requirements vary from lender to lender, here is some of the key criteria commonly used to assess the risk of a client. ### Income Lenders want to know how much you earn as well as how stable these earnings are. They are interested in whether your employment is continuous and consistent. Bank statements, payslips, group certificates or tax returns are among the documents required to give evidence of income. ### Assets and liabilities To determine your financial situation, lenders want to see proof of your assets and liabilities, including savings, shareholdings and motor vehicles. Lenders often differ in their requirements, but as a [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) we can advise you of the specific paperwork required. Some lenders, for example, ask for documentation relating to insurances and personal cover to see whether your assets are protected. ### Credit Lenders will look at copies of credit card and personal loan statements to see that you’ve been able to make any previous credit repayments and bill payments on time. Keep in mind that it’s not just your credit card, home loan or personal loan repayments they’ll look at, but also any mobile phone and utility bills. Credit file monitoring organisations supply lenders with a credit report detailing your credit history, and this will be used to work out how much of a risk you are and assign you a credit rating. ### Savings It’s not just the dollar figure that lenders look at, but also whether you are capable of saving over the long-term. A bank account statement showing regular deposits is an example of documentation required. Applications can be rejected if a savings history is deemed not to be genuine, for example savings which were a gift. Give your mortgage broker a call now to find out how we can handle the paperwork for you: it’s the best way to ensure a smooth home loan application. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/4-tips-on-how-to-be-home-loan-paperwork-ready/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/4-tips-on-how-to-be-home-loan-paperwork-ready/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/4-tips-on-how-to-be-home-loan-paperwork-ready/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/4-tips-on-how-to-be-home-loan-paperwork-ready/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/4-tips-on-how-to-be-home-loan-paperwork-ready/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/4-tips-on-how-to-be-home-loan-paperwork-ready/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%204%20Tips%20on%20How%20to%20be%20Home%20Loan%20Paperwork%20Ready&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F4-tips-on-how-to-be-home-loan-paperwork-ready%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/4-tips-on-how-to-be-home-loan-paperwork-ready/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, home loan, mortgage broker, mortgage repayments --- ### [Intelligent property investment - stick to the basics](https://www.oceanhomeloans.com.au/intelligent-property-investment-stick-to-the-basics/) **Published:** October 27, 2015 **Author:** Brad Kirwan **Content:** Overwhelmed by the confusing game of property investment? Don’t give up just yet. In spite of its complexities, many novice investors seem to find property easier to select and manage than other types of investment. But if you make the wrong decision you may find yourself experiencing problems. In an ever-changing market, here are Seven Golden Rules that may provide you with some guidance when considering any investment. ## Create a plan and stick to it Ask yourself: what would you like to achieve by investing? Is it capital gain over a set time period or are you buying to generate a rental income? Your financial objectives may determine whether a unit or a house best suits your needs. ## Set limits Lenders often highlight the maximum amount that you can borrow, so determine your own limits before you seek out a loan. There’s no sense taking on a mortgage you’ll find impossible to repay. ## Secure the right property investment finance Though interest-only products often suit property investment situations, there is a range of options available. Take the time to contact your [mortgage broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/) for assistance in finding a mortgage that works best for you. ## Find good tenants Select the wrong tenants and you may find yourself burdened with serious repair and maintenance costs; if they are tardy with their rent you may even struggle to meet mortgage repayments. If you lack the time or desire to seek out tenants, consider employing a property manager who can manage the property, deal with tenant problems and take care of collecting the rent. ## Do a health check If you want to avoid buying a ‘lemon’, [independent building and pest inspections](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/) are essential **property investment** pre-purchase reports. Not only are they likely to alert you to any faults in the property, they may also help you negotiate with vendors on price should you decide to buy. ## Know the neighbourhood Property close to features such as transport, parks, schools and shops will often increase your chances of a good return on your investment. A sought-after neighborhood will generally increase the likelihood that the property can be easily sold if mortgage repayments prove too difficult. ## Consider a buyer’s agent If you lack the confidence or expertise to invest in a property, a [buyer’s agent](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/) may offer advantages from their skills and experience in determining a property’s value. A buyer’s agent works on your behalf to negotiate the best price and, in general, can warn against poor property investments. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/intelligent-property-investment-stick-to-the-basics/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/intelligent-property-investment-stick-to-the-basics/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/intelligent-property-investment-stick-to-the-basics/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/intelligent-property-investment-stick-to-the-basics/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/intelligent-property-investment-stick-to-the-basics/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/intelligent-property-investment-stick-to-the-basics/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Intelligent%20property%20investment%20-%20stick%20to%20the%20basics&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fintelligent-property-investment-stick-to-the-basics%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/intelligent-property-investment-stick-to-the-basics/#print?share=print) - **Categories:** Property **Tags:** investors, mortgage broker, mortgage repayments, property investment --- ### [Interest Rates hold steady on Melbourne Cup Day](https://www.oceanhomeloans.com.au/interest-rates-hold-steady-on-melbourne-cup-day/) **Published:** November 3, 2015 **Author:** Brad Kirwan **Content:** The race that stops the nation also coincides with the meeting that pauses the economists. At 2:30, all eyes were on the RBA meeting and, in a photo finish, the decision has been to leave interest rates on hold at the record low of 2.0%. Although the recent regulatory changes have seen the Big Four increase their rates, the market hasn’t ground to a halt. If we take a step back and look at housing prices since 2008 (the start of the global financial crisis), the fact remains that prices in the majority of Australian cities have risen steadily – and they don’t look set to drop. Step back even further and you realise that, no matter what the ‘buzz’ in the market is, [house prices](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/) will continue to grow. Alan Oster, chief economist for the NAB Group, notes that the overall national figures obscured some of the more positive individual performances across individual state markets. And while the NAB has lowered its expectation for national house price growth from 3% to 2.3%, that’s still on the rise. He says “… the state of the housing market at present is slowing a little bit but it would need to because you’ve had very strong growth recently.” ## Interest rates may rise He also reminds us that”…when **interest rates** start to rise… you need to remember that’s at least 12 months out so…and then I think they’re going to increase relatively moderately.” So in short, the news is good for both sellers and buyers. A slow down in prices means that people who are looking to buy can breathe a sigh of relief knowing they are more likely to get onto the property market (or move up the ladder), while [owners looking to sell](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/) will realise a profit. So whether your horse wins today or not, with interest rates staying low there’s still something to smile about. If you need any help or advice please don’t hesitate to contact your mortgage broker. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-hold-steady-on-melbourne-cup-day/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-hold-steady-on-melbourne-cup-day/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-hold-steady-on-melbourne-cup-day/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-hold-steady-on-melbourne-cup-day/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-hold-steady-on-melbourne-cup-day/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-hold-steady-on-melbourne-cup-day/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20Rates%20hold%20steady%20on%20Melbourne%20Cup%20Day&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-hold-steady-on-melbourne-cup-day%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-hold-steady-on-melbourne-cup-day/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, mortgage broker, mortgage repayments, property investment --- ### [What is home loan portability?](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/) **Published:** November 10, 2015 **Author:** Brad Kirwan **Content:** If you are moving house, home loan portability gives you the option to take your current loan with you. By keeping your loan from one property to the next, you won’t have to go through the process of refinancing and you can save on establishment costs like application and valuation fees, government charges and potential exit fees (banned on loans taken out after 1 July 2011). If you have a [fixed rate home loan](https://www.oceanhomeloans.com.au/is-now-the-right-time-to-swap-your-mortgage-to-fixed-interest-rates/), then loan portability could save you the significant break costs that may be charged for altering your loan before the full term. It also entitles you to retain existing facilities like your ATM card, Offset account and cheque book. Some mortgages include portability and others provide it as an option. Often there are restrictions in place that determine in what circumstance portability can be used. ## Home loan portability rules As your [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/), we can advise you of how these rules vary from lender to lender. For example, there are often restrictions concerning the values of the new and old property, as well as the settlement dates on the two properties. There will also be various fees and charges for transferring the loan to the new property. This means that portability might be a valuable feature if you expect to move home frequently, but in other circumstances it may end up costing the same as refinancing. Give us a call and we can discuss your specific situation. We can tell you whether portability will add value to your **home loan** and may even be able to negotiate with the lender for portability fees to be waived. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20is%20home%20loan%20portability%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-is-home-loan-portability%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/#print?share=print) - **Categories:** Loans **Tags:** home loan, home loan refinance, mortgage broker, offset account --- ### [Product Focus - Fixed Rate Home Loan](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/) **Published:** January 22, 2014 **Author:** Brad Kirwan **Content:** Amid the ups and downs of the current home loan market it can be difficult to decide if looking into a **fixed rate** home loan makes sense, fixed interest rate home loans are home loans that lock in the interest rate of your home loan so that your repayments don’t change for the period selected. Typically the home loan is for a period of between 1 and 5 years. When the fixed period expires you can choose to re-fix again, roll-over to the lenders Standard Variable Rate for the remainder of the loan term or refinance to another lender for a better rate. This is one of the most difficult decisions home loan borrowers are faced with. If you are in this situation, it is important for you to educate yourself on what fixing your home loan means for your future repayments, of course, everyone wants to save as much as they can on their home loan. The choice is ultimately yours. ## What are the benefits of Fixed Interest Rate Home Loans? Fixed interest rate home loans offer financial stability, they provide you with the security of knowing exactly what your repayments will be for a given period of time, giving you peace of mind and the ability to budget. A fixed rate home loan can be advantageous if variable interest rates rise. ## Fixed Rate Home Loan – Knowing when to Fix Choosing the right loan is a great start, but what is the point if you lock yourself in when interest rates are high only to see the [reserve bank](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/ "Summer is here, but the RBA stays cool and keeps interest rates on hold") cut interest rates? By fixing when interest rates are low you will protect yourself from potential financial market volatility. Most people however fix when rates are high, fearing that they could go even higher, not out of a rational decision to look at the overall term of the loan and what rates are likely to average over that entire period. Remember 3 or 5 years is a very long time! ## Fixed Rate Home Loan – Why not to Fix Fixed home loans can have high exit fees called “economic break costs” or do not allow you to make large additional repayments. A fixed home loan is a contract, if you break the contract you will have to pay the bank any loss that they incur, this amount could be considerable, depending on the size of your loan, the term remaining of the fixed home loan and the difference between interest rates when you took out the loan and the current interest rates. DO NOT fix your rate if you are planning to: - Sell your property - Make a large lump sum repayment - Refinance your home loan Applying for a **[Combination or Split Rate Home Loan](https://www.oceanhomeloans.com.au/product-focus-combination-or-split-loan/ "Product Focus – Combination Loans or Split Loans")** may help if you are planning to make extra repayments, however this will not help if you are selling or refinancing as you would still incur large exit fees. ## Can I make extra repayments? Yes you can, but be aware that there are restrictions placed on the amount of extra repayments you can make and each lender’s criteria is different. For example: - **ANZ**: $5,000 per annum - **CBA:** $10,000 per annum - **NAB:** $20,000 during the term of the fixed rate So the difference between **CBA** & **NAB** over a 5 year loan could be $30,000 in allowable extra repayments. Of course, there are many more lenders, but all but one or two have restrictions of a similar nature. ## What else should I Consider? The interest rate that applies to a fixed rate home loan is the rate that applies on the day that the bank applies the changes to your existing loan or the day that the loan is advanced, if refinancing or settled if purchasing. Great news if rates go down but hardly what you were looking for if rates go up. By paying a Fixed Interest Rate Lock in Fee you can secure the rate that applies on the day of your application. This fee ranges from $395 to $695 to 0.15% of the loan amount, by doing this you are protected from rate rises. Rate lock is generally available for a maximum of 90 days (depending on the lender). There are however several lenders that lock the rate in at application for free for a fixed rate home loan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20Focus%20-%20Fixed%20Rate%20Home%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-fixed-rate-home-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-fixed-rate-home-loan/#print?share=print) - **Categories:** Fixed Rate **Tags:** fixed interest rates, fixed rate, home loan, interest rates, mortgage repayments, split loans --- ### [Borrow smarter and keep your Home Loan one jump ahead of the bank](https://www.oceanhomeloans.com.au/borrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank/) **Published:** January 13, 2014 **Author:** Brad Kirwan **Content:** It sounds like the impossible dream, but if you do your **home loan** homework, you can keep a much greater proportion of your money and give less to the bank. With the [official cash rate](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/ "Summer is here, but the RBA stays cool and keeps interest rates on hold") being at the lowest rate in recorded history, this is a very good time to make some impressive gains on your home loan down the track. Right now, the latest rate cut has taken around $45 per month off the average Australian mortgage of approximately $300,000. So, with rates falling for nearly the last 2 years, many householders have saved thousands of dollars on their mortgage overall. ## Staying ahead with your Home Loan What needs to be considered is that anyone with that $300,000 home loan paid off over 25 years (at the historical average rate of 7%) would end up paying around $630,000 in total – over twice the initial sum borrowed. By reducing that repayment period to 15 years, you would save over $150,000 alone. You can see where this is heading, can’t you? If you really want to win at the home loan game, the best move you can make is to put those low interest rate savings right back into your mortgage. It’s not a sexy way to spend your money, but when you consider that it could save you tens of thousands of dollars over time, it’s clearly a very wise investment move. By putting it back into your home loan, you build up a safety buffer (you never know what might happen around the corner, after all) and pay your mortgage off much sooner. What’s more, when interest rates do inevitably go back up again, you will be well prepared. ## Smarter still The banks are fighting hard for market share and now face further competition from the [non-bank lenders](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/ "Home Loans – Banks vs Non-Bank Lenders"), many of whom have far less overheads to meet than the major banking institutions. So, take advantage of this. For example, you can [refinance](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update) your existing home loan into a low-rate variable mortgage, this will free up extra cash that you can re-invest back into your loan. This can easily save you tens of thousands of dollars over the period of the mortgage, without having any impact on your lifestyle at all. ## You first. The bank second Timing is everything and with home loan interest rates so low, it’s time to weigh up your options and strike while the iron is hot. Do it right and you could be reaping the financial benefits for years to come, with you enjoying the returns, instead of your bank. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/borrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/borrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/borrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/borrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/borrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/borrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Borrow%20smarter%20and%20keep%20your%20Home%20Loan%20one%20jump%20ahead%20of%20the%20bank&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fborrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/borrow-smarter-and-keep-your-home-loan-one-jump-ahead-of-the-bank/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, home loans, interest rates, mortgage repayments, refinance --- ### [Quick Fix Home Improvements](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/) **Published:** December 30, 2013 **Author:** Brad Kirwan **Content:** [](https://www.oceanhomeloans.com.au/wp-content/uploads/2013/12/e4Header-Blue.jpg)You’ve been thinking about giving your home a freshen-up for a while, but you just can’t seem to find the time to get those **home improvements** underway. If you have just one spare weekend and you want to make some quick improvements for the highest value-add, these are the areas you need to concentrate on. ## Home improvements that make a good first impression First impressions count. If you are looking to add value to your house, start with curb appeal. Tidy the front yard by removing any overgrown trees, and spruce up your driveway and front bricks with the help of a pressure hose. You should be able to find one on the cheap by flicking through the local paper, but if you are unable to find an affordable solution, an old broom and some bleach or soapy water will scrub off any stubborn spots. A new letter box and door handle are quick and cheap fixes that can add to the overall appearance of your front yard. These are simple home improvements and fixes that can be made over a weekend and will gain you mega points with neighbours and friends. ## A new look Do you have a spare room that needs a little bit of attention? A fresh coat of paint can make all the difference, but there are a few rules to follow. Neutral colours are perfect if you are not sure what you want to use the room for or are thinking of putting your house on the market in the near future, while feature walls are a great way to add a pop of colour to brighten up a room. If painting is not your specialty, have a practice run on a less prominent area, such as a wall behind a wardrobe. Once you find your confidence, you’ll be painting like a pro. ## Replace fixtures and fittings One factor that makes a property look tired and old is out-dated or tarnished door handles, light fittings and skirting boards, by concentrating your home improvements on these areas you will quickly add appeal to your home. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Quick%20Fix%20Home%20Improvements&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fquick-fix-home-improvements%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/#print?share=print) - **Categories:** Property **Tags:** first home buyers, home improvements, home renovation --- ### [2013 Property Market & Home Loan Interest Rates Market Update](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/) **Published:** January 10, 2014 **Author:** Brad Kirwan **Content:** While 2013 saw home loan **interest rates** hit an all-time low and the construction sector struggle, 2014 is looking positive with residential construction recovering and the interest rate easing cycle coming to an end. According to predictions from the Housing Industry Association (HIA), the residential construction sector recovery is well underway and should continue in 2014. “The improving level of dwelling commencements achieved in 2012/2013 will be consolidated in 2013 before moving up a further leg in 2014/2015,” HIA senior economist Shane Garrett said. The association’s quarterly National Outlook highlights the revival of the residential construction industry since its trough in 2011. According to the report, Queensland is set to be the strongest contributor to the sector’s rise. The data suggests New South Wales and Western Australia will maintain current high levels of housing starts into 2014, with an annual increase of 11.1 per cent for NSW and 8.5 per cent for WA. While residential construction is just gearing up, the cutting cycle for interest rates appears to be at an end as the Reserve Bank of Australia (RBA) waits to determine the full effects of recent cuts to the economy. According to Glenn Stevens, RBA governor, the easing in monetary policy that has already occurred since late 2011 has supported interest-sensitive spending and asset values. The full effects of these [decisions](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/ "Summer is here, but the RBA stays cool and keeps interest rates on hold") are still coming through, and will be for a while yet. “The pace of **home loan** borrowing has remained relatively subdued overall to date, though recently there have been signs of increased demand for home loan finance by households. Housing and equity markets have also strengthened further – trends which should in time be supportive of investment,” Mr Stevens said. ## Time to Look at Fixed Home Loan Interest Rates Chief economist at HSBC Paul Bloxham expects interest rates to start rising in the third quarter of 2014, a view shared by Shane Oliver, chief economist of AMP Capital. “We can now expect an extended period of holding from the RBA before a rise in 2014.” “The reason fixed interest rates are up is because bond yields are going up – that’s a sign we’ve hit the bottom … The ideal time to fix [has passed](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/ "It’s Time to Factor in Rises in Home Loan Fixed Interest Rates"),” Mr Oliver said. “But there’s still plenty of great deals out there. We’re not going to see fixed interest rates leap all at once ‐ but if you’re planning on fixing your home loan, it’s something to look at sooner rather than later.” If you would like to discuss your home loan options or if you would like to know more about any of the topics in this article, please feel free to contact us today. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%202013%20Property%20Market%20%26%20Home%20Loan%20Interest%20Rates%20Market%20Update&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F2013-property-market-home-loan-interest-rates-market-update%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/#print?share=print) - **Categories:** Variable Rate **Tags:** construction, fixed interest rates, home loans, interest rates, mortgage repayments --- ### [It's Time for a Home Loan Health Check-Up](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/) **Published:** January 15, 2014 **Author:** Brad Kirwan **Content:** Don’t forget to give your **home loan** the attention it deserves, as you prepare to go into the New Year, you may be assessing areas for improvement in your personal health, relationships and career, but your mortgage is just as important. With interest rates on hold and no RBA meeting this month, it’s a good idea to make sure you’re not starting off a new year paying more for your home loan than you should, this is an ideal time to review your fees, rates, charges and mortgage provider. Taking time once a year to give your mortgage a health check-up can expose ways that you could be taking advantage of better rates, services and features. At the very least, you’ll feel safe in the knowledge that your finances are in good shape. Get started by comparing your mortgage with other comparable home loans on the market. During your health check-up, think about whether your financial circumstances have changed, are you unhappy with your current lender’s service, or are you paying for any features you don’t need. Also, examine fees and interest rates closely to determine if they could be improved. ## Make your home loan check-up an annual event Along with conducting your annual health check-up, if you want to save on your repayments, consider the following savings tips. - Compare your home loan rate to the latest rate cuts by the Reserve Bank. Has your lender passed this rate cut on to you? If not, it may be time for a change. - Rather than lowering your payments when the rates fall, it’s best to keep paying more. This allows you to pay off your home loan faster, saving thousands in interest. - Switch from monthly payments to fortnightly repayments. Because there are 26 fortnight’s in a calendar year as opposed to 12 months, you’ll be adding what amounts to a monthly repayment to your mortgage schedule. By following these savings tips and taking the time to schedule your annual home loan health check-up, you can feel secure in the knowledge that you are benefiting from the best possible rates, fees, and loan structures available. This sets you up for a financially solid new year. Better still, have an expert mortgage broker carry out a full home loan comparison for you, a professional mortgage broker will assess your circumstances, listen to your wants, needs and desires and take into consideration your future plans and come up with a list of mortgage products, lenders and features that match your requirements. *Need help calculating your finances? Our [online calculator](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayment Calculator – Calculate your Loan Repayment") can assist you in determining your home loan repayments based on the amount you are planning to borrow.* ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20It%27s%20Time%20for%20a%20Home%20Loan%20Health%20Check-Up&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fits-time-for-a-home-loan-health-check-up%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/#print?share=print) - **Categories:** Refinance **Tags:** home loan, home loans, interest rates, mortgage repayments, refinance --- ### [Selling Your Investment Property - Choosing the Right Time](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/) **Published:** January 8, 2014 **Author:** Brad Kirwan **Content:** When it comes to owning an **investment property**, many investors put the most effort into [choosing the property](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/ "Property Investment Outside the Inner City"), arranging the finance and organising the purchase. After the purchase settles, typically the property investor would, organise tenant selection and attend to any day-to-day issues such as property maintenance, rarely do property investors take the time to review the performance of their rental property and assess if it is doing the job they purchased it to do. In order to overcome the inevitable fluctuations in the property market, residential property should be held for at least seven to ten years, this will also allow for the property to maximise its compound capital growth. However, every property performs differently—and not all of them perform to a degree that justifies their inclusion in your **investment property** portfolio over the long-term. Therefore, it is essential to assess the performance of the property every two or three years and make any necessary adjustments if it fails to come up to scratch. ## Assess the growth rate of your investment property The best way to find out whether your property is up to scratch is to determine whether it is growing in value at a rate faster or slower than the average, most often referred to as the ‘median house price’. Arrange for several local real estate agents to give the property a current market value appraisal. Divide the average figure supplied by the various real estate agents by the original purchase price of the property and subtract one to work out the percentage increase for the period the property has been held. Then, find out the current median value in the city the property is located, along with the median for the year you bought the property. Divide the current median by the older median and subtract one to work out the percentage increase for the holding period. If you want to compare the growth rate of your property even further, you can compare it with the growth rate of the suburb of the property, be careful to take into consideration the amount of sold properties that have been used to arrive at the median figure, a small number of properties sold can lead to a median figure that my not truly represent the median for that suburb. By using a city-wide median you can avoid results that may biased as a result of such a small sample size. If the growth rate of the property is greater than the median growth rate, you know your property deserves to keep its place in your portfolio. Hold tight and reassess its performance again in two or three years’ time. If its growth rate of the property is less than the median, there is an understandable chance that this course will continue. Now, this is the time to remove all emotion from your decision-making process, you need to assess your property with a truly analytical business approach. Is retaining the property worth it, in the vague chance that the situation will improve, or will you be in a better position by selling now and putting the resultant proceeds into another investment that will provide a greater return in the longer term? If the performance of your property is pretty much ‘even stevens’ with the median, you are in somewhat of an unclear area. In this instance, it may be advantageous to look at how much longer you are intending to hold the investment property. If you’ve already held it for seven to ten years and only plan to hold it for a couple more, time is working against you because transaction costs like agent’s fees, advertising expenses, capital gains tax and [stamp duty](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/ "Should State Governments Abolish Stamp Duty?") will eat substantially into your profits. In this case, it’s probably appropriate to sell it in two years’ time as planned. On the other hand, if you’ve only owned the investment property for a few years and plan to hold it for the long-term, time is on your side. It may be best to sell it now and reinvest your money in an investment that will work harder over the long-term. When assessing the performance of your investment property, it is the perfect time to re-evaluate your finance arrangements. The residential [investment home loan](https://www.oceanhomeloans.com.au/choosing-the-right-mortgage-for-you/ "Choosing the Right Mortgage for you") market is constantly changing, so reviewing your loan structure, interest rate and fees could save you a considerable amount of money, freeing up funds with which to further reduce your debts. By taking the time to analyse the numbers every now and then, you will be in a far better position to make an unbiased judgement about your investment property**,** will it provide long-term gains, or would it be best to sell and put your investment dollars into something that will outperform your current investment. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Selling%20Your%20Investment%20Property%20-%20Choosing%20the%20Right%20Time&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fselling-your-investment-property-choosing-the-right-time%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/#print?share=print) - **Categories:** Property **Tags:** investment property, market, property investing, property investment, rental property --- ### [Lender Special $1,250 Home Loan Refinance Rebate - Update](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/) **Published:** January 6, 2014 **Author:** Brad Kirwan **Content:** One of our panel of over [30 lenders](https://www.oceanhomeloans.com.au/lenders/ "Our Lenders") has extended their special offer, apply for a **Home Loan Refinance** with this lender to receive a $1,250 rebate to your transaction account after settlement. This offer will certainly cover any refinance costs easily and the interest rate offered could save you even more money. If you feel that this offer is suitable for you then contact Ocean Home Loans as soon as possible and we will help you assess if the offer is indeed the right one for you. ## Anything else I should know about this $1,250 Home Loan Refinance offer? - Your Home Loan application must be received before 31st of March 2014. - Your Home Loan must settle before 31st of May 2014. - Minimum Home Loan Refinance amount is $250,000. - You must take out the lenders [Professional Package](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates "Professional Package Home Loans – What is a Professional Package?"). - Must have a transaction account with this lender & have loan repayments direct debited to this account in order to receive the rebate. - If the eligibility criteria are met the refinance rebate will be paid within 1 month of the settlement of the loan into the transaction account where the home loan repayments are being paid from. Let us help you to find out if this offer is suitable for your needs and requirements. Other Conditions may apply. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Lender%20Special%20%241%2C250%20Home%20Loan%20Refinance%20Rebate%20-%20Update&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Flender-special-1250-home-loan-refinance-rebate-update%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/#print?share=print) - **Categories:** Refinance **Tags:** home loan, home loan refinance --- ### [8 Questions you must ask your Investment Property Manager](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/) **Published:** January 3, 2014 **Author:** Brad Kirwan **Content:** You’ve just purchased or [about to purchase](https://www.oceanhomeloans.com.au/spring-economic-wrap/ "Confidence in Property Ownership is on the Rise") your first **investment property** and you are tossing up whether to [manage it yourself](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/ "Are You a Proactive Rental Property Landlord?") or engage the services of a property manager. Managing a rental property can be a complex and frustratingly protracted process, which is why many investors turn to a manager for professional judgement and support. Selecting a manager is a critical element in lessening the risk and maximising your returns. A property manager can source tenants of high quality whilst reducing the pressures associated with property. When you begin your search for a manager, you’ll want to ask the following 8 questions to ensure you find the best professional for your particular needs and circumstances. ## Does the agency have a dedicated investment property management department? Some agencies will have a team of managers with many years experience, others leave property management tasks in the hands of the front desk staff. You may find that an agency where the director has an active involvement in the rental management department will take the business of property management more seriously. ## How many years property management experience does the property manager have? A property manager who has many years of experience will be more conversant with the local market and will have dealt with difficult tenants on more than one occasion. They will be able to source high quality tenants and will know how to best market your rental, thereby reducing periods of vacancy. An experienced manager will have the systems in place to be able to provide a written analysis of comparable rental properties currently on the market, giving you confidence as to what realistic rental returns your investment will achieve. ## How many investment properties are you currently managing? Large agencies can have up to 200 properties assigned to each manager, an indication that the agency has a good reputation, but this can mean that the property manager has less time available to manage your property. ## Does the agency have a defined marketing? Does the property manager have a structured plan that utilises a mix of online and offline marketing strategies to promote your investment property? What means will they use to reduce periods of vacancy and find tenants of high quality? ## Do you have a process for vetting prospective tenants with regard to credit history, rental history and current employment? Ensure that your property manager subscribes to a major tenancy database and vets all prospective tenants carefully, ask for a copy of the tenant application form to see what information the agency collects. ## Does the property manager give you a written proposal? If your prospective property manager just has a quick look at your property and says “looks fine, I’ll stick it on our rental list”, look elsewhere. A manager who can’t put in the time and effort to present an image of professionalism to you, won’t look after your rental property with professionalism. ## Do you conduct exhaustive and regular inspections? You’ve worked hard to be able to purchase an investment property and probably [borrowed](https://www.oceanhomeloans.com.au/choosing-the-right-mortgage-for-you/ "Choosing the Right Mortgage for you") a fair sum as well, your property manager at a minimum should conduct two inspections a year. This helps identify any damages or repairs early, thereby protecting your valuable asset. You should also find out how you will be contacted if repairs are needed and how your approval will be obtained before any repairs are carried out. ## Will you go to court to represent me if necessary? Unfortunately, you just might have to go to the tenancy tribunal to protect your rights as a landlord. Should this occur, having an experienced **investment property** manager to represent you is a must, as tenancy laws are quite complex. When investing in property you can choose to manage your investment portfolio yourself or hand over the management to a property manager. In a complex property market, retaining an property manager is the favoured method for today’s property investors. However, it is crucial that you select your property manager carefully, as dedicated property management can appreciably increase the return from your investment property. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%208%20Questions%20you%20must%20ask%20your%20Investment%20Property%20Manager&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F8-questions-you-must-ask-your-investment-property-manager%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/#print?share=print) - **Categories:** Investing **Tags:** investment, investment property, investor, investors, mortgage, mortgage repayments, property --- ### [Property Investment - Ocean's 11 Keys to Investment Property Success](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/) **Published:** January 20, 2014 **Author:** Brad Kirwan **Content:** The reasons to own an **investment property** are many, you might want an income producing asset for retirement, you might wish to rent where you live and own a property elsewhere, or property might be your chosen path for wealth-creation. For whatever reason drives you to want to invest in property, there are a few things you should take into consideration. ## Property Investing needs Planning **1. Target:** be clear about what you want to achieve, and in what time-frames. Before you buy an **investment property** you should decide on your earning targets: will this be a negatively or positively geared investment? Will you invest in renovations to increase your rental return? Get your mortgage broker to arrange for a pre-approval of your investment loan, so you know how much you’re able to borrow before you start hunting for properties. 2\. **Don’t underestimate:** write detailed plans about what you have to spend, how much you will have to borrow, and what the borrowings will cost. Before investing in property it’s vital to have a thorough understanding of your cash flow. Make sure you budget enough for renovating, repairs and maintenance as well as the estimated costs of management, insurance and rates, then calculate the rental income. And when you have purchased your ideal investment property do what you can to prevent costly maintenance issues arising, such as replace ageing taps. **3. Leg work:** burn some shoe leather before you buy a property. Go to real estate agencies in the area and pick up their ‘for rent’ sheets. See what rents are being asked for what kind of properties. Ask agents what properties they would like to manage. Go to some open days. Get a sense of which agents are up to scratch. **4. Research fully:** it’s important you do your research before you commit, like with any other investment. Investigate the area you’re considering buying in, and whether there are a good range of amenities nearby like schools and shopping centres. You should also get professional advice on property values, recent sales and the growth outlook for the area. ## Engage Investment Property Professionals **5. Get the right loan advice:** loans for an **investment property** are different to regular home loans in terms of the options you have and the application criteria. For instance, you may be able to make interest-only repayments for some of the loan term, and get the rental income the property generates taken into account for the potential to borrow more. Get your mortgage broker to provide quotes from at least 3 different lenders. **6. Fixed or variable**: crunch the numbers for both a fixed rate mortgage and a variable rate mortgage. Fixed rates are at historical lows, and give you interest rate certainty for two, three or five years. But variable rates provide you with flexibility. You can always get the best of both worlds by applying for a [split rate mortgage,](https://www.oceanhomeloans.com.au/product-focus-combination-or-split-loan/ "Product Focus – Combination Loans or Split Loans") a combination loan of both fixed and variable interest rates. **7. Accountant:** don’t rely on backyard BBQ chit-chat for that all-important tax advice. If negative gearing your rental property is your intention, with the aim of claiming the loss you make against your taxable income, then you should be advised by an accountant. **8. Depreciation:** a depreciation schedule prepared by a specialist Quantity Surveying firm helps to ensure that you are maximising the cash return from your **investment property**. ## Protect your Investment **9. Property inspections:** if you’re buying a place to rent to others, basic things must be in working order that you might let slide if you lived there yourself. Always have a [full property inspection](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/ "Why you Should Pay for a Pre-Purchase Property Inspection?") done by a qualified expert. **10. Protection:** landlord insurance is essential and you should contact a broker if you are unsure about what is included or excluded in the policy. Renting property is a business and some of the features of landlord insurance may not be familiar. Getting this wrong is not an option. **11. Find a quality property manager** – Renting out your investment property as soon as possible once you’ve purchased it, will maximise the return you get with rental income and also assist you to pay your mortgage. Doing this through a [property manager](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/ "8 Questions you must ask your Investment Property Manager") will be at a cost, but it is the easiest way to go, as they will market the property, reference check tenants for you, and advise you on appropriate rental prices for your area. An investment property is an excellent way to build wealth, but it should be approached like a business. Have a target, formulate a plan, never underestimate the costs and work closely with your mortgage broker and accountant. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Property%20Investment%20-%20Ocean%27s%2011%20Keys%20to%20Investment%20Property%20Success&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproperty-investment-oceans-11-keys-to-investment-property-success%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/#print?share=print) - **Categories:** Property **Tags:** borrowing capacity, budget, fixed interest rates, home improvements, home loans, home renovation, interest rates, investment property, investors, mortgage repayments, pre approval, property investing, property investment, rental property, variable interest rates --- ### [Should State Governments Abolish Stamp Duty?](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/) **Published:** December 13, 2013 **Author:** Brad Kirwan **Content:** A call to abolish **stamp duty** taxes on property purchases has been made by many people in the real estate and mortgage finance industries for many years, in fact they were supposed to be abolished by the states with the introduction of GST on the 1st of July 2000, the states still got their GST but never abolished duties on property transactions. Concessions on duty and [first home buyer grants](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/ "What are the latest First Home Owner Grant Schemes?") do little to help, according to many industry spokespeople. Many claim state governments enjoy real estate booms because rising prices and turnover combine to send stamp duty revenue flooding into state government coffers. ## Reliance on Stamp Duty The states are heavily reliant on duties for their funding, some say too heavily, which is unhealthy and illustrates why a rethink of how the states are funded is necessary. The 2010 Henry Tax Review labelled stamp duty “volatile and highly inefficient,” discouraging property transactions and being unfair, “as people who need to move more frequently bear more tax, irrespective of income or wealth.” The 2008 NSW IPART state taxation review ranked stamp duty among the least efficient taxes, because it “adds to the cost of real estate transactions and so can distort investment decisions; and because it applies to a narrow base (properties sold during the tax year) … the revenue it generates can change dramatically from year to year, depending on the property cycle.” The Tasmanian government has recently increased its first home builder (FHB) grant to $30,000, this may allow more first home buyers to enter the property market now as the grant will in many cases cover the stamp duty and the LMI. This in itself can only be good for the state as it will generate activity in the building sector as the grant is only for purchases of newly constructed properties, or for buyers that are planning to construct. On the down side is the possibility that this could drive prices higher and [properties at the lower end of the market](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/ "Property Investment Outside the Inner City") may prove undesirable, creating a two tiered market. Before abolishing stamp duty entirely state governments will need to find a way of replacing this lost revenue, though the upside of a more active property market and the stimulus this brings to the whole economy can’t be ignored. The negative effects that duties have on first home buyer figures in particular varies from state to state, perhaps the Queensland model of exempting first home buyers from paying any state duties up to a purchase price of $500,000 is a more appropriate measure. Whatever does happen in the future, continuing to use stamp duty as a tool to either stimulate or lessen activity in the property market should not be the reason for it’s existence, taxes should be for the raising of revenue to bring in essential services not macro economic policy. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Should%20State%20Governments%20Abolish%20Stamp%20Duty%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fshould-state-governments-abolish-stamp-duty%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/#print?share=print) - **Categories:** Mortgage **Tags:** first time home buyers, home loans, investment property, property, rates, stamp duty --- ### [Mortgage Repayments on the rise](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/) **Published:** December 4, 2013 **Author:** Brad Kirwan **Content:** Median monthly **mortgage repayments** in Australia climbed by 38.5 per cent in the period between 2006 and 2011, from $1300 to $1800. But in a surprise trend, data released by the Australian Bureau of Statistics (ABS) on the 19th of November 21013 shows that the fastest growing mortgage costs were seen in areas outside major capital cities. Between 2006 and 2011, home loan repayments increased more than wages. The median weekly household income grew by 20.2 per cent in that period, compared to an increase of 38.5 per cent in home loan repayments, which may lead to more home owners seeking to [refinance](https://www.oceanhomeloans.com.au/is-it-time-to-refinance-your-home-or-investment-loan/ "Is it time to refinance your home or investment loan?") for a better deal. The Sydney suburb of Woollahra has the most expensive median monthly repayments at $3250. The fastest increase was recorded in Ashburton in Western Australia, where median monthly mortgage repayments increased by a staggering 278.6 per cent. ABS director of rural and regional statistics, Lisa Conolly, says analysing growth in regional areas is complex due to a range of factors influencing mortgage costs. “Regions such as Ashburton and Port Hedland in WA have experienced high population growth and turnover, meaning there would be increased demand for housing and possibly new homeowners with new mortgages,” Conolly says. ## FASTEST GROWING MORTGAGE REPAYMENTS INCREASES WITHIN EACH STATE/TERRITORY(a) **Local Government Area****Median Mortgage Repayment** **Change** **2006** **($/month)** **2011** **($/month)** **(%)** **Western Australia**Ashburton252 954 278.6 Port Hedland1 083 2 600 140.1 Derby – West Kimberley900 1 842 104.7 **Northern Territory**Victoria-Daly370 834 125.4 **Queensland**Blackall Tambo499 953 91.0 Mount Isa1 083 2 000 84.7 Winton500 921 84.2 **South Australia**Roxby Downs1 300 2 323 78.7 Whyalla737 1 300 76.4 **Tasmania**George Town700 1 200 71.4 Southern Midlands693 1 183 70.7 **New South Wales**Hay650 1 083 66.6 Gunnedah867 1 300 49.9 **Victoria**East Gippsland867 1 296 49.5 Surf Coast1 218 1 800 47.8 --- (a) There are no LGAs in the Australian Capital Territory FASTEST GROWING MORTGAGE REPAYMENTS INCREASES WITHIN EACH STATE/TERRITORY (a) *Source: Australian Bureau of Statistics* ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Mortgage%20Repayments%20on%20the%20rise&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fmortgage-repayments-on-the-rise%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/#print?share=print) - **Categories:** Mortgage **Tags:** mortgage repayments --- ### [The Secrets of a Home Renovation Reality](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/) **Published:** December 23, 2013 **Author:** Brad Kirwan **Content:** Turn on the TV on most nights and you’re almost certain to come across at least one ‘reality’ **home renovation** or improvement program, as exciting as they might make home improvement look, real world renovating can be tough – not just on your back but on your bank account as well. So, before you get carried away by the glitz and glam on your TV screen, consider the following tips and questions. ## Plan ahead While it doesn’t make for entertaining TV, some fastidious planning is always involved in any successful home renovation project. Before starting out on a project, know how much you can afford to spend, which rooms you will renovate, how extensive the project will be, how long it will take and who will help. In fact, before you even think about picking up a hammer, be sure you know where or at what you are swinging it. ## Is it in the home renovation budget? Creating a realistic budget at the outset of the project is perhaps the most important element of a successful home renovation. A well-crafted budget will allow you to prioritise work and materials, to determine the overall scope of works, and importantly, to avoid the dreaded ‘reno blow out’. Include all material costs, labour fees and additional expenses such as pest control provisions in your budget. And don’t forget to allow for costs you didn’t anticipate. While the results of those TV home improvements might look remarkable, spending too much on finishing touches that don’t add real value can be a fast track to serious over-capitalisation. ## Pick and choose TV home renovation projects have it all: from the backyard makeover to knocking down walls left, right and centre. In fact, any extensive project is not only likely to cost a tonne but may also be difficult to carry out. One easy way to minimise your expenses and maximise your profits is to only target the most important rooms of a house. Generally speaking, the kitchen, bedrooms and bathrooms are the rooms that most impact comfort levels – and the overall value of the property – so be sure to prioritise your project plan in favour of these rooms. Finally, when undertaking a home renovation, always remember to shop around, whether you’re in search of light globes or looking for a landscaper to add the final touches. You won’t regret it when it comes to selling time! ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20Secrets%20of%20a%20Home%20Renovation%20Reality&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-secrets-of-a-home-renovation-reality%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/#print?share=print) - **Categories:** Property **Tags:** construction loan, home loan refinance, home renovation --- ### [What Mortgage suits your Lifestyle?](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/) **Published:** November 22, 2013 **Author:** Brad Kirwan **Content:** If you were considering applying for a **mortgage**, would you think of yourself as a bit of a penny pincher? Or are you more into an extravagant lifestyle of wining and dining? When it comes to determining your home loan size, it’s important to consider the lifestyle you live now and the sort of lifestyle you could reasonably adjust to. For some, it’s easy to live on baked beans and toast, but if you’re used to a more upmarket lifestyle it might be tougher to tighten the purse strings and stick to a [budget](https://www.oceanhomeloans.com.au/saving-for-a-home-loan-its-all-in-the-budgeting/ "Saving for a Home Loan – it’s all in the Budgeting") when it comes to paying for that home loan. Of course, taking on a home loan requires a fair bit of financial awareness, and you will need to be much more aware of your spending habits. ## Assess you Mortgage Borrowing Capacity A great way to assess your true home loan borrowing capacity is to try your mortgage loan on for size before you commit, work out how much income you would have left over if you were to take out a certain size home loan and then start living by it. If you can comfortably manage, that’s great, but if you can’t, you might need to reassess how much you can reasonably borrow for a home loan. Of course, a mortgage broker is best placed to help you determine your [borrowing capacity](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow – Calculate your borrowing power!") and exactly what size debt suits your financial needs. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20Mortgage%20suits%20your%20Lifestyle%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-mortgage-suits-your-lifestyle%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, budget, mortgage, mortgage repayments --- ### [Lender Special $1,250 Home Loan Refinance Rebate](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/) **Published:** November 11, 2013 **Author:** Brad Kirwan **Content:** One of our panel of over [30 lenders](https://www.oceanhomeloans.com.au/lenders/ "Our Lenders") has a special offer on at the moment, apply for a **home loan refinance** with this lender to receive a $1,250 rebate to your transaction account after settlement. This offer will certainly cover any refinance costs easily and the interest rate offered could save you even more money. If you feel that this offer is suitable for you then contact Ocean Home Loans as soon as possible and we will help you assess if the offer is indeed the right one for you. ## Anything else I should know about this $1,250 Home Loan Refinance offer? - Your refinance application must be received before 31st of March 2014. - Your refinance must settle before 31st of May 2014. - Minimum home loan refinance amount is $250,000. - You must take out the lenders [Professional Package](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans – What is a Professional Package?"). - Must have a transaction account with this lender & have loan repayments direct debited to this account in order to receive the rebate. - If the eligibility criteria are met the refinance rebate will be paid within 1 month of the settlement of the loan into the transaction account where the home loan repayments are being paid from. Let us help you to find out if this home loan refinance offer is suitable for your needs and requirements. Other Conditions may apply. [](https://www.oceanhomeloans.com.au/enquire-online) ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Lender%20Special%20%241%2C250%20Home%20Loan%20Refinance%20Rebate&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Flender-special-home-loan-refinance-rebate%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/#print?share=print) - **Categories:** Loans **Tags:** fixed interest rates, home loan refinance, interest rates, mortgage repayments, variable interest rates --- ### [Home Loans - Banks vs Non-Bank Lenders](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/) **Published:** December 9, 2013 **Author:** Brad Kirwan **Content:** There was a time when people would automatically turn to banks for **home loans**. These days, non-bank lenders are rising in popularity, with many new credit unions, building societies and independent mortgage lenders cropping up. This has led to a [confusing number of choices](https://www.oceanhomeloans.com.au/choosing-the-right-mortgage-for-you/ "Choosing the Right Mortgage for you") to consider when searching for a mortgage that best suit your needs. Here are some facts that might help. ## Home Loans from Non-Bank lenders? Non-bank lenders have much lower overhead costs, allowing them to offer lower interest rates and fees on their home loans. They are also more likely to offer a wider array of mortgage features, such as better advance options and flexible pay instalments. Many of them are more lenient when it comes to approving mortgages for clients with [lower credit ratings](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/ "Credit Report – Changes on the Way"), and for people who are [self-employed](https://www.oceanhomeloans.com.au/beating-the-low-doc-blues/ "Beating the low doc mortgage blues") or work on a commission base. You’ll also have the added benefit of a more personal style of service, which can be rare among the big banks. ## Home Loans from a Bank? Many people feel comfortable going with the traditional option – banks represent familiarity. They also offer a wider range of overall financial products and services than non-lenders. Bank home loans allow you to use one source for all your financial needs, which is more convenient for some people. You may also find that banks offer lower entry fees for mortgages than non-bank lenders, though this is not always the case. ## The Bottom Line As with any big decision in life, it’s important to do your homework. While non-bank lenders are fast becoming the new alternative with lower interest rates and personable service, you may find yourself limited by the overall products and services that are offered. However, this is entirely dependent on your situation – for example, you may discover that you won’t be able to take advantage of some of the benefits of the home loans that they offer. So do your research and then determine what works best for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Home%20Loans%20-%20Banks%20vs%20Non-Bank%20Lenders&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhome-loans-banks-vs-non-bank-lenders%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/home-loans-banks-vs-non-bank-lenders/#print?share=print) - **Categories:** Loans **Tags:** credit report, home loan refinance, home loans, mortgage repayments --- ### [7 tips for the first time home buyer](https://www.oceanhomeloans.com.au/7-tips-for-the-first-time-home-buyer/) **Published:** July 30, 2014 **Author:** Brad Kirwan **Content:** Are you a **first time home buyer** looking to buy your first property? Here are 7 tips that will make it easier for you to choose a property that’s right for you and your unique situation. Know your budget, by knowing how much you can afford to spend before you begin your search. It’s not just the up-front costs of buying the property but also knowing how to manage the mortgage repayments and plan for any unforeseeable changes to lifestyle or income. Make an appointment with a mortgage broker to talk through these issues and have your finance pre-approved. Pre-approval is recommended for the first time home buyer because it gives you a realistic budget to go house hunting with and it ensures you are treated as a serious buyer by agents. Get your deposit ready, the bigger the better when it comes to the deposit. A decent deposit will give you more loans to choose from and even the offer of a lower interest rate because there is less risk for the lender. The greater the deposit, the less you’ll have to borrow, which means less in interest over the lifetime of the loan and the lower your repayments will be over a set term. Know all the costs, when planning your budget you need to factor in all the expenses included in purchasing a property. As well as the deposit, you may need stamp duty, inspections, insurance, legal expenses, valuations and title search fees. ## The first time home buyer needs to be finance savvy This is business, it’s easy to be led by emotion when buying property, but do your best to make sure your decision is made by your head not your heart. It helps to conduct plenty of research and ask lots of hard questions. Call in the pro’s, buying a property can be a complex experience and good advice can help make sure you don’t make any costly mistakes. A mortgage broker can start the ball rolling in applying for a home loan and advise you of the steps involved in closing the deal. Don’t leave anything to chance, if you’re serious about a property, it’s wise to conduct a building and pest inspection. Make sure the person inspecting the home is qualified to do so, such as a licensed builder, architect or surveyor. look for help, there are various forms of government assistance for first home buyers, such as the First Home Owner Grant. Depending on the state you’re in, there may be other forms of assistance like tax and stamp duty concessions. To find out more about any grants of concessions for the first time home buyer go to [www.firsthome.gov.au](https://www.firsthome.gov.au) or the Office of State Revenue in your state. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/7-tips-for-the-first-time-home-buyer/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/7-tips-for-the-first-time-home-buyer/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/7-tips-for-the-first-time-home-buyer/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/7-tips-for-the-first-time-home-buyer/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/7-tips-for-the-first-time-home-buyer/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/7-tips-for-the-first-time-home-buyer/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%207%20tips%20for%20the%20first%20time%20home%20buyer&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F7-tips-for-the-first-time-home-buyer%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/7-tips-for-the-first-time-home-buyer/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, budget, first home owner grant, first time home buyer, home loans, mortgage broker, mortgage repayments --- ### [Hassle free home loan applications - how to properly prepare](https://www.oceanhomeloans.com.au/hassle-free-home-loan-applications-how-to-properly-prepare/) **Published:** December 11, 2013 **Author:** Brad Kirwan **Content:** For the majority of people, a **home loan** is the biggest financial commitment they will make during their lifetime. Such an obligation requires painstaking and meticulous planning, but with the right resources and careful preparation, you shouldn’t need to stress. Here are a few tips to help you make the **home loan** application a breeze. ## Prepare your credit report Before anything, you will need to ensure that your finances are in order. Sit down and assess your [credit report](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/ "Credit Report – Changes on the Way") – this includes your personal history of all your credit accounts (cards, loans, mobile phone plans etc.), and all their associated repayment histories. These are the first things that your lender will be looking at when you apply for a home loan. ## Dispute inaccuracies in your credit report Misinformation and discrepancies will hurt your credit score and may cause your application to be denied, so consider speaking to a credit professional to help you dispute these issues. ## Pay off delinquencies Mortgage lenders will be assessing your ability to pay off debts on time. So, if you have anything outstanding, clear them up as soon as you are able to. If for any reason you have recently made a late payment or have paid off any delinquencies, it is probably a wise idea to wait at least 6 months before applying for a mortgage. ## Hold on to your documents When applying for a home loan, the more information you can provide, the better your chances of having your mortgage approved. Buy a handy file to store all your documents including: - Statements of all previous loans and credit cards - Payslips – last 2 at least - Tax returns - PAYG summaries - Most recent personal bank statement - Anything else you think is relevant ## Home Loan Deposit size Lenders always give preference to those who put down larger deposits. Generally, they consider loans for 80% of the property value to be ‘safe’. Keep in mind that they may be willing to stray from their normal lending policy, if you are willing to put down a large deposit. [Borrowing less than 80%](https://www.oceanhomeloans.com.au/why-size-matters/ "It’s Not How Big Your Mortgage is – Borrowing Smart") also means you can also be exempted from the Lenders Mortgage Insurance (a one-off fee that can be quite strict when assessing your mortgage). If you’d like to find out more about how to prepare for your **home loan** application, feel free to drop us a line. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/hassle-free-home-loan-applications-how-to-properly-prepare/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/hassle-free-home-loan-applications-how-to-properly-prepare/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/hassle-free-home-loan-applications-how-to-properly-prepare/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/hassle-free-home-loan-applications-how-to-properly-prepare/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/hassle-free-home-loan-applications-how-to-properly-prepare/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/hassle-free-home-loan-applications-how-to-properly-prepare/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Hassle%20free%20home%20loan%20applications%20-%20how%20to%20properly%20prepare&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhassle-free-home-loan-applications-how-to-properly-prepare%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/hassle-free-home-loan-applications-how-to-properly-prepare/#print?share=print) - **Categories:** Credit History **Tags:** credit report, home loan, home loan refinance, property --- ### [What are the pitfalls of an “off the plan” Investment Property?](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/) **Published:** November 13, 2013 **Author:** Brad Kirwan **Content:** If you keep a keen eye on the property market, you’ll no doubt know the term “off the plan” (OTP) **investment property**. Essentially, you are entering into a contract to purchase an property before, or while construction of the property is taking place. While there are significant benefits to buying off-the-plan, there are also pitfalls that you must consider before committing to that contract. ## Dense contracts Be aware of the differences in contract details and settlement time frames for an off-the-plan property. It’s important to understand that OTP contract details are extremely thorough, as construction will be an ongoing process. The contract will need to include proposed body corporate assets, expenses, as well as a detailed schedule of finishes for each property. ## Investment Property Market value decline In today’s volatile property market, there is a risk that you could be paying too much for your investment on an off-the-plan deal. For instance, the market value may drop over the course of the property’s construction, resulting in the actual worth being less than predicted, though we are presently seeing a possible [upswing in the market](https://www.oceanhomeloans.com.au/spring-economic-wrap/ "Confidence in Property Ownership is on the Rise"). ## Avoid stifling contracts Many builders enforce rules that prevent you from seeing the investment property until construction has been fully completed. Your visual prediction of your future property may not live up to the standards that these builders actually deliver. Remember to check the finer details of the contract to avoid builders that subscribe to these rules. ## Interest rates These are always worth considering. Interest rates could potentially rise before you have even settled on the investment property, and can cause problems if you wanted to fix the term of the loan at the current interest rate. Try our loan [comparison calculator](https://www.oceanhomeloans.com.au/loan-comparison-calculator/ "Loan Comparison Calculator") to compare current and potential future interest rates. ## Bankruptcy It happens time and time again – developers diving straight into liquidation before a project has been completed. Ask what your options are if this occurs. Ensure you know exactly what happens to your money, and clarify the extent of your guarantees. ## The bottom line Read your contracts, and ask plenty of questions. Better yet, get a lawyer to read your contracts for you to assess any possible grey areas or discrepancies that may affect you in the long run. Remember that these are lengthy ongoing contracts, so you have to be absolutely prepared. – and patient. If you have any queries about an off-the plan investment property, please don’t hesitate to drop us a line. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20are%20the%20pitfalls%20of%20an%20%E2%80%9Coff%20the%20plan%E2%80%9D%20Investment%20Property%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-are-the-pitfalls-of-an-off-the-plan-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/#print?share=print) - **Categories:** Property **Tags:** construction, interest rates, investment property, mortgage, rental property --- ### [Property Investing Outside the Inner City](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/) **Published:** November 6, 2013 **Author:** Brad Kirwan **Content:** Inner-city markets have long been perceived as an attractive option for **property investing**, however outer city areas also offer some lucrative returns. Major Australian, inner city suburbs have been popular for many [property investors](https://www.oceanhomeloans.com.au/property-or-shares-where-should-you-invest/ "Property or Shares – where should you invest?"), often due to their close proximity to just about everything. Despite this, there are still some unique advantages associated with the outer-city areas. For instance, outer-city markets tend to offer a lower entry point for property investing than their inner-city counterparts. The upside to investing at a lower entry point with a more affordable property is that you may require a [smaller loan](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow") and less debt overall and [lower monthly repayments](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayments Calculator"). In addition, starting at a lower price point allows property investors to enter the market with the option of adding further value through [cost-effective renovations](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-start-afresh/ "Should you renovate or demolish and start afresh?"). Property investors can benefit from these lower price points. Affordable rental accommodation in outer city suburbs may increase rental demand in these areas. As a result, vacancy rates remain relatively tight across most markets, leaving property investors spoilt for choice when it comes to finding a suitable tenant. If you already have a few property investments under your belt, with a majority of them in inner city areas, then a property in the outer city suburbs may be just what your portfolio needs. ## Diversify your property investing Diversifying your property portfolio by investing in different suburbs and in different types of property can bring with it some significant advantages. A diversified portfolio may lower any shortfalls you may encounter should a particular market collapse or if rental demand wanes. It is important to treat your investment property as a business and leave your emotions at the door. Keep in mind that you are not looking for your dream house; rather, a vehicle through which to create potential long-term wealth. So, even if you’re not an outer-suburbs person yourself, don’t let that cloud your property investing decisions. Your investment strategy as well as your budget and what you can afford will dictate where and what type of properties you purchase. If you would like help reviewing your current mortgage or need a hand securing finance for your next investment property purchase, please feel free to contact us today. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Property%20Investing%20Outside%20the%20Inner%20City&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproperty-investing-outside-the-inner-city%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/#print?share=print) - **Categories:** Property **Tags:** investment property, mortgage, mortgage repayments, property investing, property investment, rental property --- ### [Why you Should Pay for a Pre-Purchase Property Inspection?](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/) **Published:** October 30, 2013 **Author:** Brad Kirwan **Content:** You’ve got your mortgage **[pre-approved](https://www.oceanhomeloans.com.au/3-compelling-reasons-to-get-a-pre-approval/ "3 Compelling Reasons to Get a Pre-Approval")** and you’re about to sign on the dotted line for your dream home, stop and ask yourself: How can I be sure the **property** I’m buying is in good shape? A pre-purchase inspection is essential for every home purchase – whether it’s your new family home or an [investment](https://www.oceanhomeloans.com.au/home-loans/investment-home-loans/ "Investment Home Loans"). Not only will it help identify potentially serious problems with your proposed purchase, it could save you thousands of dollars in the long run. An inspection can reveal significant building problems or hazards, and help you decide if the house or unit is really what you are looking for after all. The person who inspects the property – typically a licensed builder – will check the condition of the interior, roof and roof space as well as the under-floor space of the home you intend to purchase – provided they are accessible. They’ll then provide a detailed report, usually in a checklist format, once they have completed their inspection. The price of a pre-purchase inspection depends on the type of property and the time taken to make the evaluation, but as a rule of thumb the cost for a standard report on a typical residential home is usually around the $500 mark, but can vary in each state and even between different suburbs. If that sounds steep, consider that any issues highlighted in the report can be a valuable bargaining tool to drive down the asking price. Just remember, you’ll need the vendor’s permission to have the premises inspected – so be sure to give plenty of notice. This will help ensure that the places you need to have inspected are accessible. If you’re not sure how to arrange a pre-purchase inspection, give us a call – we’ll be able to point you in the direction of a well-respected and qualified organisation. ## Some important property inspection exceptions A property inspection could mean the difference between a good and a bad investment; however, there are some things that it may not include. Possible exceptions include: • Footings • Concealed damp-proofing • Electrical wiring • Plumbing • Drainage • Watering systems • Gas fittings • Fireplaces or chimneys • Television reception ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Why%20you%20Should%20Pay%20for%20a%20Pre-Purchase%20Property%20Inspection%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fshould-i-pay-for-a-pre-purchase-property-inspection%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/#print?share=print) - **Categories:** Property **Tags:** home improvements, home loans, home renovation, investment property, investors, mortgage, mortgage repayments, property, rental property --- ### [Credit File Report - Changes on the Way](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/) **Published:** October 23, 2013 **Author:** Brad Kirwan **Content:** ## **What’s currently in your credit file report** Your credit file report contains information about your credit history. The information is collected from credit providers, courts and other organisations by credit reporting agencies. This is the type of information you will find in your report. **Principal** This is the name of the person who applied for the loan and whose name appears on the contract. **Personal details** Personal details will be listed such as your name, date of birth, current and past addresses, employment and driver’s licence number. **Joint applicant** A joint applicant’s name will appear if you applied with another person and both your names appear on the contract. **Continuing credit account** A credit card is a type of continuing credit contract that will appear on your file if you have one. Arrears brought up to date Any debts that were unpaid and overdue and have now been paid or settled. **Defaults** Defaults and any other infringements are also listed. These could be utility bills or loan payments which are 60 days or more overdue and where debt collection activity has started. See more details about defaults. **Credit applications** Any credit you’ve applied for. **Debt agreements** Any bankruptcies, court judgements, debt agreements or personal insolvency agreements in your name. ## **Comprehensive Reporting** New laws passed by the Federal Parliament on 29 November 2012 mean that additional information will soon be available on consumer credit reports. Until now a consumer **credit file** report in Australia has only been allowed to include identity details, credit enquiries and negative data such as defaults, court judgments and bankruptcies. However from March 2014, when the Privacy Amendment is due to come into effect, your report could contain additional information that can be viewed by credit providers when you apply for credit, this will be known as repayment history information. ### What is repayment history information (RHI)? RHI is information about whether you have met your consumer credit payment obligations. Consumer credit is credit that is intended to be used primarily for personal, family or household purposes. RHI credit report includes information about whether you have made a payment on time or whether you have missed a payment. If you only pay part of the amount owing, you are taken to have missed a payment on your credit file. RHI includes the day on which a payment is due, and if you made a payment after that day, the date on which you paid. Therefore, RHI can include both positive and negative information about your credit history. It does not include the amount of any missed payment — only the fact that you have made or missed a payment. ### What types of payments could be included in my RHI? RHI can include information about any consumer credit payments that you make, or fail to make, to a credit provider that holds an ACL. This means that RHI will usually reflect made or missed payments on a loan or credit card. ### When can credit providers begin collecting RHI? RHI can only relate to payments that you have made or missed from December 2012. Then from March 2014 licensed providers can pass your RHI on to reporting bodies. ### How will my RHI affect my ability to obtain credit? From March 2014, credit reporting bodies can disclose your RHI, along with other credit-related personal information, to licensed finance providers. Those providers may use this information to help determine your eligibility to be provided with finance. *This means that if you fail to make the full amount of a payment on time from December 2012 it may affect your ability to obtain finance in the future.* ### How far back will my RHI go? Information about any particular payment cannot be held for more than two years from the date it was due. However, RHI credit report will not include information about any payment that was due before December 2012. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Credit%20File%20Report%20-%20Changes%20on%20the%20Way&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fcredit-file-reporting-changes-on-the-way%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/credit-file-reporting-changes-on-the-way/#print?share=print) - **Categories:** Credit History **Tags:** credit file, credit report, home loan, home loan refinance, mortgage, mortgage repayments --- ### [What is a 100% Mortgage Offset Loan Account?](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/) **Published:** July 10, 2013 **Author:** Brad Kirwan **Content:** A 100% **mortgage offset** account is very similar to an all-in-one account, rather than putting all your salary and other income into your mortgage, it goes into an account that offsets the interest which is directly linked to your home loan. Any balance in the offset account is 100% ‘offset’ against your home loan. This reduces the amount of interest you have to repay, making your money work harder for you. ## Advantages of mortgage offset loan \* Can save you substantial amount of interest if used correctly. \* Operates like a normal transaction account and has a cheque book, ATM card, etc. attached. ## Disadvantages \* May have higher monthly fees attached to the account. \* May require a minimum balance in the account ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20is%20a%20100%25%20Mortgage%20Offset%20Loan%20Account%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-is-a-100-mortgage-offset-account-2%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/#print?share=print) - **Categories:** Loans **Tags:** home loan, mortgage offset, mortgage offset loan, mortgage repayments --- ### [Should you renovate or demolish and do a full construction](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/) **Published:** July 17, 2013 **Author:** Brad Kirwan **Content:** So, you’ve decided that your current home doesn’t meet your needs and it’s time to do something about it, maybe a full **construction** or large renovation. The next big decision is whether your best course of action is to renovate and increase the size of your home, or consider demolishing the house entirely and [build something completely new](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/ "Loan Product Focus – Construction Loan") withy a full construction – a project home, or architect designed property. ## Step One – what do you really want? This might sound obvious, but it’s surprising how confusing the situation can become when you take all of the options into account. Do you like your current home enough to modernize or increase its size? Is your home suitable for renovation? If you intend to renovate or extend, can you find the right materials? Is your planned extension a realistic proposition, or not financially viable? ## Step Two – pros and cons of construction or renovation There are no simple right or wrong answers, although there are some cost factors that should be considered. Generally speaking, it costs more to add to or extend to an existing structure, because the **renovations** will have to be tailor made for your specific home. In contrast, a project home is purpose-designed to be relatively straight forward to build and an existing plan for essential components such as water pipes, electrics, insulation and structural support. That’s why a new home costs less to build per square metre than a renovation of an existing property. The other consideration is to choose an architect to design a home for to your specific needs. Naturally, this will cost more than a project home, but you’ll end up with a unique home created around what you really want. ## Step Three – can I afford it? Obviously, there’s no hard and fast costs because there are so many variations involved, depending on what kind of renovation you choose. Some ballpark figures, according to Archicentre, the average renovation project in NSW (2010) were valued between $75,00 and $150,000. Adding an 80 sq. metre ground floor extension, which inclusions, ranged from $164,526 to $310,896. Finally, always start your project with a firm budget and always seek competitive tenders from builders or any other suppliers – if you don’t you could be paying 50 – 100% more than necessary. ## Step Four – find financial options Assuming your renovation includes structural changes, you’ll need council approvals and permits to carry out the work. For this, you’ll need a construction loan, which is typically released as progressive amounts at stages throughout the build. Small renovations are simpler, where the options include using your credit card or a personal loan. If your home has increased in value since you purchased it, you can use the equity to increase your loan, based on the overall increase in value of the property. You can also add to your existing mortgage to cover the renovation cost. Beyond your bank there are now companies that specialise in loans to cover renovation costs. ## Step Five – will I add value? It’s very important to consider whether your renovation will add value to the property when you come to sell. If you don’t plan to sell for 10 years, or well into the future, you’re unlikely to over capitalise. On the one hand, if you plan to sell within the next year or so, it’s essential to consider whether your renovations will appeal to the next prospective owners. Popular features for buyers include extra bedrooms, new kitchen and bathroom and landscaping. Also consider just how much extra your house will really be worth as a result of your planned changes. Look at other properties for sale in your area and compare their features with your home. If you are planning to spend $200,000 for a construction on features that might add just $100,000 in value, you should re-think your renovation strategy. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Should%20you%20renovate%20or%20demolish%20and%20do%20a%20full%20construction&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fshould-you-renovate-or-demolish-and-do-a-full-construction%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/#print?share=print) - **Categories:** Construction **Tags:** construction, construction loan, home improvements, home loan refinance, home renovation, mortgage repayments --- ### [Loan Product Focus – Family Pledge Loan](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/) **Published:** July 31, 2013 **Author:** Brad Kirwan **Content:** Saving for your first home can be a huge hurdle for some first home buyers, who may not have even heard of a **family pledge loan**. If you are trying to save a deposit for your first home whilst paying rent to your landlord, it can seem like a mammoth task. To make matters worse, by the time you save what you thought was enough, the goal posts could have moved as property prices increase and you have to keep saving to catch up with the market. Even though the First Home Buyer Scheme has ended in Queensland there are always alternatives and opportunities to get a foothold in the property market. If you are lucky enough to have a close family member who is willing to help you get on the first step of the property ladder, a family pledge loan could be right for you. The family guarantee loan allows a family member to pledge or guarantee part of the equity from their property towards a deposit on your purchase. The family member, quite often mum or dad, will allow the lender to take a mortgage over their property to support this guarantee. ## Borrow 100% or more with a family pledge loan In return, the lender will allow you to borrow 100% of the property price plus associated costs, secured by both the property you are acquiring and your family member’s property. Usually the guarantee will be 20% of the purchase price to enable the borrower to avoid paying lenders mortgage insurance. As time goes on and you reduce the balance of the original loan, or when the value of the property increases, the guarantee is removed and your loan will ‘stand alone’. There are implications of this product for the guarantor and legal advice should always be sought before entering any such agreement. However if both parties are happy to proceed it can be an immediate goal scoring opportunity for a first home buyer. If you are thinking about applying for a **family pledge loan**, please give us a call as we would be happy to have a chat to you about your plans. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Loan%20Product%20Focus%20%E2%80%93%20Family%20Pledge%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Floan-product-focus-family-pledge-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/#print?share=print) - **Categories:** Loans **Tags:** family pledge loan, first time home buyers, fixed interest rates, home loans, interest rates, variable interest rates --- ### [Are You a Proactive Rental Property Landlord?](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/) **Published:** August 28, 2013 **Author:** Brad Kirwan **Content:** If you own a **rental property** or have ever considered investing in the real estate market you should know that the value of your investment can be significantly impacted by the way it is treated by your tenant. While disconcerting knowledge, it is useful to know. The obvious way to protect your investment is to select the right tenants and to be proactive in your approach to your investment. ## Property manager for your rental property Choose an agent who is thorough in their tenant selection process and enthusiastic about maintaining a good relationship with your tenant. Having a professional to liaise between yourself and the tenant is an effective strategy to adopt. ## The insurance It is imperative to have the right cover in place to protect your rental property, you and your tenants. Discuss building insurance and landlord protection insurance with your insurance broker and ensure you have adequate and sufficient coverage…you do not want to be underinsured. ## The maintenance If you don’t look after your rental property, your tenants will not see a need to either. Providing a neat, clean and secure residence will encourage your tenants to maintain the property and hence its value. Always attend to repairs promptly too. You may also consider outlaying a little on extras such as secure locks, security screens, fly screens, ceiling fans or even hiring a gardener to keep the outside areas tidy. The money spent on such things could save you a lot in the long run. Always respect your tenant’s privacy too. It may be your investment property but it is their home. By remembering this and the other tips outlined above, you will go a long way to ensuring the value of your rental property is protected. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Are%20You%20a%20Proactive%20Rental%20Property%20Landlord%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fare-you-a-proactive-rental-property-landlord%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/are-you-a-proactive-rental-property-landlord/#print?share=print) - **Categories:** Property **Tags:** mortgage repayments, property investment, rental property --- ### [The 7 key components of a low doc home loan for the self-employed](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/) **Published:** October 17, 2014 **Author:** Brad Kirwan **Content:** Most lenders look for the following attributes on your **low doc home loan** application to decide your eligibility for the loan sought, there may be other factors that the lender may take into account but the 7 points outlined below are the key components. ## Self-employed history Your ABN must be registered for a minimum of 12 months and if you are declaring an income greater $75,000 you will also need to be registered for Goods and Services Tax (GST). Some lenders will not accept an application unless you are GST registered, irrespective of your declared income. The longer your ABN and GST registration the better, it demonstrates longevity and consistency as a self-employed business owner. ## Credit history Lenders look particularly closely at your credit file and the repayment history of your debts, as they cannot fully verify your income. The major banks are far less forgiving of any problems with your credit history. We do have options if you have a [bad credit history](https://www.oceanhomeloans.com.au/product-focus-bad-credit-history-home-loans/ "Product Focus – Bad Credit History Home Loans") with some of our specialist lenders. ## Equity contribution A minimum deposit of 20% is required for a purchase or 20% equity for a refinance. We do have access to both 85% & 90% low doc home loans, but beware, the higher the percentage of your property value that you are borrowing, the higher your interest rates and fees will be. ## Net asset position Your net asset position is the total value of your assets minus your current liabilities. The higher this figure the better and it must be positive. ## Conduct on existing credit When you apply for a low doc home loan or low doc investment home loan you may be asked to provide a recent statement on any existing mortgages held and any unsecured debts such as credit cards and personal loans. This is to prove that you are making the obligated payments on these debts and that they are being managed within your credit limits. For refinance transactions it is a standard requirement that you provide 6 months statements for your existing mortgage(s) to be refinanced and generally 3 months statements for any other debts you wish to consolidate (or pay out) from the proceeds of the loan. ## Low doc home loan security location Lenders consider low doc home loans to be a higher risk, hence the restriction to 80% of the property value, in the main. By also restricting the security location to what they consider to be lower risk locations reduces the lenders overall risk. We know which locations are acceptable to the lenders, so it would be wise to check with us first. ## Equity release Or ‘cash out’ as it is often referred to. This is where an applicant is seeking to [refinance](https://www.oceanhomeloans.com.au/consolidate-your-debts-with-a-home-loan-refinance/ "Consolidate your debts with a home loan refinance") an existing debt and obtain further funds for personal or investment purposes. Some lenders limit or require evidence for the purpose of the cash out when applying for a low doc home loan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%207%20key%20components%20of%20a%20low%20doc%20home%20loan%20for%20the%20self-employed&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-7-key-components-of-a-low-doc-home-loan-for-the-self-employed%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/#print?share=print) - **Categories:** Loans **Tags:** credit report, equity, home loans, low doc home loan, low doc mortgage --- ### [Loan Product Focus - Construction Loan](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/) **Published:** September 11, 2013 **Author:** Brad Kirwan **Content:** If you need to borrow money to build a new home or property or to make substantial renovations to your existing property, generally a **construction loan** would be a suitable choice, there are a couple of advantages of using a building loan to finance this type of project. The first one is due to the fact that the loan is drawn down in stages, unlike a normal home loan where the money is usually received in one lump sum at the start of the loan. The gradual draw-down of the loan, referred to as progress payments, is usually paid to the builder directly. As the different building stages are completed the lender will release funds to the builder. Sometimes the lender may want to inspect the progress prior to the release of funds, but this will depend on the lender. The benefit of this is that you only pay interest on the amount of the construction loan actually drawn down, not on the entire amount of the loan applied for. You may also be able to pay interest only repayments or capitalise the interest during construction to increase your cash-flow too. ## Purchase the land first with a construction loan A construction loan is flexible, in that you are able to use them to purchase a block of land initially and then when you are ready, be able to access funds required in order to build your property. They are suitable for both residential and commercial projects. There are a couple of issues a bank will want to confirm when using a construction loan such as whether the builder you are using is licensed or not, insurances held by the builder and insurance cover of the project. Some lenders will also set a limit on the building loan period allowed and the location of the project can also impact on your access to funding. So, if you have a construction loan project that you are considering or would like to find out more, please give us a call as we would love to chat with you about your plans. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Loan%20Product%20Focus%20-%20Construction%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Floan-product-focus-construction-loans%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/#print?share=print) - **Categories:** Construction **Tags:** construction loan, mortgage repayments, property investment, rental property --- ### [4 reasons why you need a home loan pre approval](https://www.oceanhomeloans.com.au/4-reasons-why-you-need-a-home-loan-pre-approval/) **Published:** August 22, 2014 **Author:** Brad Kirwan **Content:** Going through the **home loan pre approval** process is an important step in evaluating your financial situation, if you are in the market to purchase a property, it is a good idea to be pre-approved by a lender for your mortgage for four good reasons. ## Speed up the process By getting a home loan pre-approval for your mortgage is simply the fact that once your offer is accepted you won’t have to rush around trying to organize everything to arrange your finance, speeding up the process and making it much smoother. ## Selecting the right loan It gives you the opportunity to discuss with your mortgage broker the loan products available and to address the loan amount and repayments in terms of your affordability. Doing this before you have found a property allows you to stay calm and objective in your decision-making process. ## You have the advantage It gives you the edge in a competitive market. If there is competition from other buyers for the property you have found, having your finance in place can put you ahead of the other buyers and improve your negotiating power. The vendor and the vendors agent will take you more seriously if you have made the effort to get a home loan pre approval and give preference to you and your offer to buy the property. ## Know your borrowing capacity Knowing how much you can borrow means that you don’t waste time looking at the wrong properties. You will know exactly what price bracket to look in and thus avoid frustration and confusion. ## How to get your home loan pre approval quickly For serious buyers, using a mortgage broker to apply for a home loan pre approval once you are ready to start looking for a property is one of the first steps in the home buying process, their knowledge of different lenders and their lending criteria can help you to find the loan best suited to you. If you are unsure of any aspect of the finance process, your mortgage broker is always available to aid you from the pre-approval stage to settlement. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/4-reasons-why-you-need-a-home-loan-pre-approval/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/4-reasons-why-you-need-a-home-loan-pre-approval/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/4-reasons-why-you-need-a-home-loan-pre-approval/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/4-reasons-why-you-need-a-home-loan-pre-approval/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/4-reasons-why-you-need-a-home-loan-pre-approval/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/4-reasons-why-you-need-a-home-loan-pre-approval/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%204%20reasons%20why%20you%20need%20a%20home%20loan%20pre%20approval&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F4-reasons-why-you-need-a-home-loan-pre-approval%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/4-reasons-why-you-need-a-home-loan-pre-approval/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, first home buyers, home loan, home loan pre approval, pre approval --- ### [Interest Rates again to remain on hold again at 1.5%](https://www.oceanhomeloans.com.au/interest-rates-again-to-remain-on-hold-again-at-1-5/) **Published:** June 5, 2018 **Author:** Brad Kirwan **Content:** Will they? Or won’t they? They haven’t since April 2016, and they didn’t today. The Reserve Bank of Australia has once again met and decided to keep **interest rates** on hold – the official cash rate is still a record low of 1.5%. Pundits predict little movement – if any – for the rest of the year. According to the Organisation for Economic Co-operation and Development (OECD), it is expected that the economy will continue to grow at a robust pace of around 3%. It also said, “monetary policy remains supportive”. ## Put those low interest rates to good use Now that winter has settled in, why don’t you do some homework and see if you can pay off your mortgage sooner. Because interest on a home loan is calculated on the daily balance and charged to the loan account monthly in arrears, even paying one dollar a day more onto your mortgage will reduce the term of your loan. Do you pay your mortgage monthly? If you change that to fortnightly, you’ll be making one extra payment per year (there are 26 fortnights per year), so not only are you paying back the full amount of your home much quicker, you’re also reducing the amount of interest you’ll accrue over the lifetime of the mortgage. There are a number of other ways to save money while interest rates are so low, on what is by far your biggest asset. Why not give your [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/) a call and ask to review your mortgage? ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-again-to-remain-on-hold-again-at-1-5/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-again-to-remain-on-hold-again-at-1-5/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-again-to-remain-on-hold-again-at-1-5/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-again-to-remain-on-hold-again-at-1-5/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-again-to-remain-on-hold-again-at-1-5/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-again-to-remain-on-hold-again-at-1-5/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20Rates%20again%20to%20remain%20on%20hold%20again%20at%201.5%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-again-to-remain-on-hold-again-at-1-5%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-again-to-remain-on-hold-again-at-1-5/#print?share=print) - **Categories:** Mortgage **Tags:** interest rates, mortgage broker, mortgage repayments --- ### [How to borrow 95% for a home loan with a 457 Visa](https://www.oceanhomeloans.com.au/how-to-borrow-95-for-a-home-loan-with-a-457-visa/) **Published:** October 31, 2014 **Author:** Brad Kirwan **Content:** It is a widely held belief, that **457 visa** holders in Australia can only apply for a home loan up to 80% of the value of the property, this is totally incorrect, there are a range of lenders who will lend up to 95% of the value of the property. You do not need to be married to, or in a de facto relationship with, an Australian citizen or permanent resident. You will need to be able to fund the cost of [Lenders Mortgage Insurance (LMI)](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/ "Looking for a Home Loan but don’t have a big enough deposit") which at a borrowing level of 95% could be approximately 3% of the funds borrowed, in addition to this you are not entitled to any exemptions to transfer duty or government fees and charges, nor are you eligible for any First Home Owner grants or incentives. So you would be wise to consider saving in the region of between 11% to 13% of the purchase price of the property. ## What type of property can a 457 visa holder buy? Temporary residents holding a 457 visa can buy one established dwelling only to live in (see below) and they may buy new dwellings, or vacant land to build new dwellings, because these latter purchases increase the available housing stock in Australia. You must apply with the [Foreign Investment Reveiw Board](https://www.firb.gov.au "FIRB") for permission to buy, this can only be done when you have found a suitable property and the permission is granted solely for that property, as your permission is for a specific property you should take legal advice on the content of your purchase contract from your lawyer or conveyancer. A temporary resident is a person who is residing in Australia and: - holds a temporary residency visa which permits them to stay in Australia for a continuous period of more than 12 months (regardless of how long remains on the visa);or - has submitted an application for permanent residency and holds a bridging visa which permits them to stay in Australia until that application has been finalised **Established (Second-Hand) Dwellings** Temporary residents need to apply if they wish to buy an established dwelling. Temporary residents may acquire one established dwelling only and it must be used as their residence (home) in Australia. Such proposals normally meet with no foreign investment objections subject to conditions (such as, that the temporary resident sells the property when it ceases to be their residence). Temporary residents are not permitted to buy established dwellings as investment properties. **New Dwellings** A ‘new dwelling’ is a dwelling which is being purchased directly from the developer and has not been previously occupied for more than 12 months in total. Temporary residents need to apply to buy new dwellings in Australia. Such proposals are normally approved without conditions. **Vacant Land** Temporary residents need to apply to buy vacant land for residential development. These applications are normally approved subject to conditions (such as, that ongoing construction begins within 24 months). If you obtain permanent residency the any restrictions applied by the Foreign Investment Revue Board are no longer valid. So if you are considering the purchase or of a home to live in while in Australia on a 457 visa, using an Ocean Home Loans expert mortgage broker to assist you will certainly put you on the road to home ownership with the smallest possible deposit. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-borrow-95-for-a-home-loan-with-a-457-visa/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-borrow-95-for-a-home-loan-with-a-457-visa/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-borrow-95-for-a-home-loan-with-a-457-visa/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-borrow-95-for-a-home-loan-with-a-457-visa/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-borrow-95-for-a-home-loan-with-a-457-visa/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-borrow-95-for-a-home-loan-with-a-457-visa/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20borrow%2095%25%20for%20a%20home%20loan%20with%20a%20457%20Visa&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-borrow-95-for-a-home-loan-with-a-457-visa%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-borrow-95-for-a-home-loan-with-a-457-visa/#print?share=print) - **Categories:** Mortgage **Tags:** 457 visa, construction loan, home loan, mortgage broker --- ### [How does the 2018 Federal Budget affect you and your family?](https://www.oceanhomeloans.com.au/how-does-the-2018-federal-budget-affect-you-and-your-family/) **Published:** May 9, 2018 **Author:** Brad Kirwan **Content:** If you sat down at 7:30 last night to watch the 2018 Federal Budget Announcement, you may have found yourself a little overwhelmed. With so many figures and areas of taxation to get your head around, we have sat down, dissected and summarised the answers to the question you may be asking – “What’s in it for me (and my family)?” ## Personal income tax The Treasurer announced plans for a three-step, seven-year plan: - Step One: Effective immediate, low and middle income earners are to benefit from tax savings of up to $530 per person (or $1,060 per couple). - Step Two: From 1 July this year, the threshold of the 32.5% tax bracket will increase from $87,000 to $90,000, then will again increase in July 2022 from $90,000 to $120,000. - Step Three: From 2024-25, there will be just two income tax brackets for people earning over $41,000 per year: 32.5% for incomes between $41,001 and $200,000, and 45% for incomes exceeding $200,000. - The Medicare levy will remain at 2%. ## Your superannuation Have you ever considered changing your super fund, but found it cost-prohibitive because of high exit fees? Great news in this years **budget** – super funds will soon be banned from charging exit fees. But you’ll need to wait until 1 July 2019 to make your move. Other changes to superannuation include: The balance-eroding practice of automatically adding life insurance to a superannuation policy, no matter what the age of the person, will end. (To date, super members under the age of 25 pay nearly $200 million a year in life insurance fees through superannuation). Those under 25 are now required to ‘opt in’ to buying life insurance. Companies can no longer automatically deduct life insurance cover for all funds where no contributions have been made for 13 months. According to the Association of Superannuation Funds of Australia, more than 60% of Australians have multiple super funds. So, the ATO will turn their eye to inactive super accounts and merge them with their owners’ active funds. - Self-managed super funds (SMSFs) can now have 6 members, up from 4. - SMSFs with a history of good record keeping will be rewarded by reducing annual audits to 3 yearly audits. - People over 65 can put up to $300,000 into super from the proceeds of selling their home. - First home buyers who have made super contributions under the First Home Super Saver Scheme can access their money for eligible property purchases. ## Education Young people living in rural and remote communities will find it easier to get access to Youth Allowance payments while they are studying away from home (eligibility for these payments is based on parental income). ## Traineeships The Federal Government will match funding with the states and territories to provide traineeships and apprenticeships for “high-demand” areas over four years. However, there is one caveat: each of the states and territories needed to sign up for this to go ahead. ## Ageing Australia There are a number of changes in this years budget to benefit older Australians. They include: - $1.6 billion over four years has been set aside so 14,000 seniors can stay in their homes rather than go into a nursing home. - $20 million for mental health nurses to support older people still living at home (the Government notes that men over 85 have the highest risk of suicide of all age groups). - $40 million has been budgeted for urgent building and maintenance work for aged care facilities in regional and remote areas. - $33 million has been set aside to address a chronic shortage of palliative care in nursing homes. - A one-year exemption from the ‘work test’ will apply to recent retirees who have less than $300,000 in total super savings. - The Pension Loans Scheme will be available to all Australians over Age Pension age and the maximum payments will increase to 150% of the full Age Pension. - Pension Work Bonus increases to $7,800 p.a. from $6,000. - Finally, the Government has pledged to make the aged-care system easier for families to navigate, simplifying forms and providing relevant online educational facilities. Access to more affordable medicine: Granted, you will need to wait years for this, but it’s good to know the government will spend $302 million over four years to improve your access to generic and less expensive medicine. ## Your health There are plans to allocate $130 billion for public hospitals over five years. The government also proposed a crack down on unnecessary diagnostic tests. Access to your own data. The government announced the establishment of a “consumer data right”. This will allow you to take control of your online personal data and safely share it with credible service providers, starting with the banking, energy and telecommunications sectors. ## Small business No budget would be complete without something for small businesses. If you run your own business, the current deduction on spending on eligible assets of up to $20,000 has been extended to July 2019. Another win: streamlining of GST reporting which, in turn, will save money – a welcome change for around 2.7 million small businesses. Craft Beer Brewers. There are around 350 craft brewers in Australia, so chances are you aren’t one of them. However, most consider the tax changes that put small craft beer brewers at a disadvantage to be a victory for common sense. Beer sold in kegs larger than 48 litres have been taxed at a lower rate than smaller kegs, which in effect has favoured large producers. The change brings the lower tax level down to beer sold in kegs larger than the 8-litre size. ## Finally While not all of these changes are likely to affect you personally, you might give them your ‘tick’ of approval: - Multinational companies now to be policed and stopped from shifting profits to lower-taxing countries (they do this by loading up local operations with debt). - Online hotel booking websites based outside of Australia will now be taxed at the same rate as Australian businesses, ending the inequality that currently occurs between international and local booking providers. - Companies that are currently ‘pushing the boundaries’ and taking advantage of the research and development tax incentive scheme will be stopped. This will ensure funding goes to genuinely innovative spending. - A $1.3 billion plan to support Australia as a ‘global leader’ in medical technology, biotechnology and pharmaceuticals. - The ATO will turn an eye to the ‘Black Market Economy”, with more audits, ‘mobile strike teams’ and a ‘Black Economy Hotline’ for the public to report suspicious activity of businesses attempting to avoid paying tax. ## Budget Questions? If you have any questions, your [mortgage broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/) is always ready to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-does-the-2018-federal-budget-affect-you-and-your-family/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-does-the-2018-federal-budget-affect-you-and-your-family/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-does-the-2018-federal-budget-affect-you-and-your-family/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-does-the-2018-federal-budget-affect-you-and-your-family/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-does-the-2018-federal-budget-affect-you-and-your-family/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-does-the-2018-federal-budget-affect-you-and-your-family/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20does%20the%202018%20Federal%20Budget%20affect%20you%20and%20your%20family%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-does-the-2018-federal-budget-affect-you-and-your-family%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-does-the-2018-federal-budget-affect-you-and-your-family/#print?share=print) - **Categories:** Mortgage **Tags:** budget, home loan, mortgage broker --- ### [No movement as RBA keeps interest rates on hold](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/) **Published:** May 1, 2018 **Author:** Brad Kirwan **Content:** Sometimes, no news is good news. So, while many economists predict the next move on **interest rates** will be up they also think that, for the foreseeable future, the board of the Reserve Bank of Australia will keep the cash rate at the record low of 1.50%. A statement released by the RBA after last month’s decision says the global economy has strengthened over the past year, with advanced economies showing above-trend growth and low unemployment. In Australia, the economy grew by 2.4% in 2017, with the RBA expecting faster growth this year. Positive business conditions, an increase in non-mining investment and higher levels of public infrastructure are also supporting the Australian economy. ## Interest Rates and the Federal Budget May is budget month. Treasurer Scott Morrison has been hinting that most Australians will be better off, saying now is the right time for income tax cuts. So, as we all wait until next Tuesday to see how the budget will affect us and interest rates, take some comfort in this statement from Deloitte Access Economics regarding the most recent Federal Government tax collection windfall: *“The rivers of gold are running again, with the global and Australian economies doing the Budget plenty of favours “It’s an almost picture perfect backdrop for the taxman: not only are there more dollars in the economy than Treasury forecast, but companies and super funds have also increasingly run out of the losses they racked up during the GFC — meaning that good news on the economy is being turbocharged in terms of its effects on the tax take.”* While nobody knows exactly what the Treasurer will say, all the current indications suggest that most people have a reason to be optimistic. Stay tuned. Meanwhile, if you have any questions about today’s interest rates announcement, please do not hesitate to your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/) – we’re here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20movement%20as%20RBA%20keeps%20interest%20rates%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-movement-as-rba-keeps-interest-rates-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** budget, home loan, interest rates, mortgage broker --- ### [Steady, steady – Interest Rates remain at 1.50%.](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/) **Published:** April 3, 2018 **Author:** Brad Kirwan **Content:** Nothing drastic happened in March to stir the Australian economy, so it was no surprise the Reserve Bank of Australia retained its neutral stance – the official cash rate remains at a record low 1.50%pa. The last movement on **interest rates** was in August 2016, and experts predict that it may well stay where it is for the foreseeable future. This information is important to you because it helps you plan your finances. But, have you ever wondered what the RBA actually do at the monthly meetings and the factors they consider when making their interest rates decision? In short, it is the job of the RBA to ensure the cost of living remains at a reasonable rate for Australians. The board also attempts to keep inflation between 2 and 3% (the good news being they have succeeded for many years now). ## Decision on Interest Rates Before coming to any resolution, the board members take into consideration current full time employment figures; consumer and business confidence; the stability of the Australian dollar and household debt. They will also study overseas housing markets, currencies and consumer demand. The economic and trade conditions of the US, China and major European countries also come into play. So, when the members meet on the first Tuesday of every month (except for January), they share pleasantries and sandwiches, read reports on national and international economic information and watch presentations from experts. Only after taking all these aspects into account will they agree on their verdict. Then, a media release is prepared and economic journalists, traders, banking authorities and keen observers keep an eye on the RBA website, which makes the information live at precisely 2:30pm. So, while interest rates remain stable, opportunities still abound for homeowners and investors. If you’re considering your options – an investment property, a [mortgage health check](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/) or a lender change – it’s the perfect time. As always, we’re here to help with all that and more – give us a call anytime. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steady%2C%20steady%20%E2%80%93%20Interest%20Rates%20remain%20at%201.50%25.&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsteady-steady-interest-rates-remain-at-1-50%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/#print?share=print) - **Categories:** Interest Rates **Tags:** first home buyers, home loan refinance, interest rates, investment property --- ### [Steady as she goes – interest rates remain at 1.50%](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/) **Published:** March 6, 2018 **Author:** Brad Kirwan **Content:** Once again, the Reserve Bank of Australia has chosen to keep the official cash rate at the record low 1.50%. This was no surprise – in fact, economists believe that 2018 is most likely to see **interest rates** stay on a ‘holding pattern’. Traditionally, the housing market is quiet in the first few months of the year, with Australians enjoying a summer vacation in January and slowing getting back up to speed in February. Now it’s March, and people are well and truly into the swing of things – so it’s the perfect time to look at what opportunities the rest of the year holds. ## Are low interest rates making you consider an investment property? With interest rates set to remain low for the coming year, it may be time to put the equity you have in your own home to good use and start looking for that investment property you’ve been contemplating. So, where do you start? Here are some tips: - Do your homework. Find out which areas are providing good rental returns. Look at up-and-coming suburbs where infrastructure is planned or already underway. - Don’t be limited by geography. The best investment property for you may well be in a city or town thousands of miles away. - Do your sums. Make sure that the price you are looking at is matched by a good rental yield. Don’t forget to include stamp duty and council/strata rates. - Don’t be emotional. Just because you may not want to live in the area/ the house/apartment that you are looking at doesn’t mean it’s not a good investment. - Get advice. Once you’ve done the initial work, have someone look over your findings to make sure you haven’t missed anything. Remember, your [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/) is here to help you make sure you are getting the best deal possible, they can advise on the correct loan structure, interest rates and loan product fees and charges. Whatever it is you are considering, please feel free to call us. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steady%20as%20she%20goes%20%E2%80%93%20interest%20rates%20remain%20at%201.50%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsteady-as-she-goes-interest-rates-remain-at-1-50%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/#print?share=print) - **Categories:** Interest Rates **Tags:** interest rates, investment property, mortgage broker, property investing --- ### [New year same official interest rates](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/) **Published:** February 6, 2018 **Author:** Brad Kirwan **Content:** The holiday is over. Or is it? Mortgage holders can continue to relish record low **interest rates** – the longest in history – as the Reserve Bank of Australia voted to keep the cash rate on hold. It has remained at 1.50% since August 2016. Looking back at the last quarter of 2017, there is great news for first home buyers, owner-occupiers and local investors. Economists say that, with foreign buyers pulling out of the Australian housing market, more locals looking for a home or investment are set to increase their share in the market. NAB Chief Economist Alan Oster says first home-buyers are entering into the market at the highest levels since 2011, making up 18% of new owner-occupier loans. He also reports that “sentiment towards Australia’s housing market remained at above-average levels in the fourth quarter of 2017” – a positive sign for 2018. ## Low Interest Rates – Time to Refinance? Experts point out that, while interest rates are expected to stay on hold for a while, they will eventually rise. That’s why many think now is the perfect time to look at refinancing. There are currently a number of lenders offering variable rates below 4%. [Refinancing](https://www.oceanhomeloans.com.au/home-loans/refinance-home-loans/) now can help you get ahead on your mortgage repayments, saving you thousands in the long run. If you’re interested in reviewing your options, as usual, your mortgage broker is always available to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20New%20year%20same%20official%20interest%20rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fnew-year-same-official-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/#print?share=print) - **Categories:** Interest Rates **Tags:** first home buyers, home loan refinance, interest rates, mortgage broker --- ### [The Property Investment Growth Suburbs - How to Find Them (Before the Boom)](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/) **Published:** September 18, 2013 **Author:** Brad Kirwan **Content:** What makes a sleepy suburb suddenly become a hot **property investment** option? And who wouldn’t want a crystal a ball to know exactly what these suburbs are – well before the boom? Of course, nobody knows for certain what the future holds. But with a bit of research and a keen eye, there’s a good chance you can spot a property investment winner before the prices skyrocket. ## The ‘crazy house’ price. You’ll need to do research. Sometimes, it takes one ‘crazy’ sales result to set a suburb off like wildfire. For example, in May 2010 a 3 bedroom house (with no parking) sold in Leichhardt in Sydney’s inner west for $1.475m – well over the $1.35m reserve. This sparked interest in the area (although it’s hardly ever been a sleepy suburb) and led to a 22 per cent rise in the suburb’s median house prices in 2010. ## Infrastructure Improving infrastructure naturally leads to interest in growing suburbs. Freeways, public transport and other facilities are all taken into account when someone decides whether or not to live in a neighbourhood. ## The Wow Factor for property investment There are some areas that are obviously attractive to people, and suburbs near natural attractions are one of them. Finding affordable properties near beaches, parklands, lakes or rivers can be difficult, but not impossible. ## The Coffee Shop Factor If good coffee shops and restaurants start to open in a particular suburb, it’s a sign that people are paying attention to the rumblings of an area. Good services attract people, and vice versa. More people seeking to buy an **investment** **property** in an area increases demand and hence prices. ## Education Nation Ever since the ‘My Schools’ website was launched, a good school catchment area has become even more important factor in real estate investment. The pressure to enrol children at the best-performing state schools has grown. ## Using your own home for capital growth. You can use your own home to secure an equity loan and start your property investment portfolio and with a bit of research you will be on your way to becoming a keen-eyed property investor. And we’re here to help you get there – call us anytime and we’ll start the process. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20Property%20Investment%20Growth%20Suburbs%20-%20How%20to%20Find%20Them%20%28Before%20the%20Boom%29&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproperty-investment-growth-suburbs-how-to-find-them%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/#print?share=print) - **Categories:** Property **Tags:** property investment, rental property --- ### [low doc home loans can provide an alternative for the self-employed](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/) **Published:** August 15, 2014 **Author:** Brad Kirwan **Content:** **Low doc home loans** can provide an easier mortgage finance solution for business owners or self-employed people who have income and assets, but are unable to provide the required financial statements or tax returns at the time of application, so if you own your own business or you’re self-employed and are finding it difficult getting together all of your financial details, a low doc mortgage could give you the means of securing a home loan. Low doc home loans are the perfect alternative for borrowers who struggle to come up with all financial documents for a loan application – an issue faced by many in Australia’s self-employed sector. In common with all home loan applications, low doc mortgage borrowers are generally required to submit a standard loan application. However, instead of providing, say your PAYG statement, the self-employed low doc home loan applicant would provide a verified Business Activity Statement when they apply for a low doc home loan product. ## Low doc home loans for an investment property? Borrowers can apply for investment or owner-occupied home loans and even small business loans. A loan-to-value ratio (LVR) of 80 per cent is considered to be standard with these products, though higher amounts may be available through some lenders. Because of the added risk to the lender in providing this type of loan, be aware that special conditions may apply and low doc home loan borrowers will likely pay a higher rate of interest than a comparable loan to a PAYG applicant. Lenders mortgage insurance (LMI) commonly applies to borrowers with a deposit of less than 20 per cent of the property’s value. However, low doc mortgage borrowers may be required to take up LMI for loans exceeding 60 per cent of the home’s value. The good news is that there is some choice in how you pay these fees. Most lenders provide two options for paying mortgage insurance: an upfront payment, or cover the costs using your mortgage by increasing the value of your loan. The choice is yours! If you are having a hard time sourcing the necessary financial documents or you have recently been knocked back by a bank, a mortgage broker can help you through the low doc home loans application process, save you time and aid you in getting back to focusing on what matters most, running your business. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20low%20doc%20home%20loans%20can%20provide%20an%20alternative%20for%20the%20self-employed&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Flow-doc-home-loans-can-provide-an-alternative-for-the-self-employed%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, home loan, interest rates, investment property, low doc home loans, low doc mortgage --- ### [Advantages of a new construction home](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/) **Published:** August 4, 2014 **Author:** Brad Kirwan **Content:** They say there’s nothing like the feeling of something new, whether it’s new clothes, a new car, or maybe even a **new construction home**, there is a certain feeling that goes with purchasing something new. Therefore it’s not hard to understand why buying a newly built home or investment property is a popular purchasing choice for many Australians. One of the most attractive aspects of buying new is that it often requires fewer upfront costs. Many unforeseen costs, maintenance fees or repair bills, can quickly eat into the money you aim to save by purchasing an existing dwelling. Moreover, newly built properties traditionally carry a warranty of several years so if you do happen to run into teething issues with your new home, the warranty can help. If you are in the market for an investment property, a new home can certainly be a wise choice. ## New construction home benefits for investors Not only will the new look and design appeal to potential tenants, contemporary building standards can mean a greener, Also keep in mind that new utilities and appliances, such as bathroom, kitchens and heating can be a huge draw card for tenants and should be considered when you come to negotiate the weekly rent. Finally, don’t overlook the depreciation and taxation benefits associated with purchasing a new construction home as an investment property as well as the government incentives that can come with purchasing a new home to live in. Benefits are often at their greatest when a property is brand new. For example, government bonus schemes such as the QLD Great Start Grant provides eligible first home buyers with $15,000 towards the cost of the construction, there are also stamp duty concessions for the purchase of the land. ## It pays to be careful There are many advantages to buying a new property over an existing dwelling, but as with all property-related decisions, caution is necessary. To minimise risks, consider the following before making a purchase: Capital growth is NOT guaranteed, whether you purchase a new or an older property. Research is essential, be absolutely certain to do your homework on the property market and purchase in an area that is more likely to offer growth potential. Know who you’re dealing with, unfortunately, there are several stories of developers who go bust during a development or turn out not to be professional operators. Take note of the developer’s history and speak to family and friends regarding developers they have used in the past. New and older properties both have their pros and cons and whether a new property is right for you is ultimately down to your specific situation. If you’re not sure, getting professional advice would be a good next move. If a new construction home does fit your financial and investment strategy, however, the benefits should be considerable. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Advantages%20of%20a%20new%20construction%20home&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fadvantages-of-a-new-construction-home%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/#print?share=print) - **Categories:** Construction **Tags:** first home owner grant, first time home buyer, investment property, investors, negative gearing, new construction home, rental property --- ### [Invest in your small business with equipment leasing](https://www.oceanhomeloans.com.au/invest-in-your-small-business-with-equipment-leasing/) **Published:** July 28, 2015 **Author:** Brad Kirwan **Content:** If you’re running a small business, now is the time to think big, whether you are looking at expanding via equipment leasing or purchasing new business equipment assets. The Federal Government’s focus on small business in the May budget was designed to encourage small business growth through tax cuts as well as measures to reduce red tape, promote more start-ups and hire more employees. Many business owners will be taking advantage of the opportunity to receive an immediate tax deduction on every asset they purchase valued up to $20,000. Cars, utes, tables, chairs, printers, photocopiers, tools, TVs, sound and security systems, computers, tablets and smartphones are just some of the assets that can be deducted until the end of June 2017. ## Short on capital? Try equipment leasing While these tax deductions are great news for many small business, what about those who don’t have the capital available to purchase assets? If you are a small business in this situation, equipment leasing may be your ideal ‘think big’ solution. Rather than buying machinery, equipment or cars, a lease enables you to rent them for a manageable monthly payment. At the end of the lease term, you have the flexibility to return, upgrade or continue to rent. Leasing enables you to enjoy instant access to the tools you need to grow your business, while at the same time freeing up cash flow. Given lease payments are fixed, you can plan cash flow around a known cost, enabling you to stay ‘cash flow positive’. Australia’s [record low interest rates](https://www.oceanhomeloans.com.au/interest-rates-drop-to-all-time-low-of-2/) have made leasing a viable option for any business looking to acquire an asset, whether it’s new kitchen equipment if you run a café, new tools if you’re a tradie or a new computer if you have a home office. Leasing can be particularly useful if you need to update equipment but you’re not in a position to purchase, or your business relies on expensive equipment that goes out of date quickly. There are also tax advantages to leasing. Under a leasing arrangement, the business does not own the equipment for tax purposes because the financier is the one who has bought the equipment and leased it to you. This means you do not have a depreciating asset on your books and do not need to pay GST on the purchase price of the equipment. Lease repayments may be tax deductible and although GST is charged on these repayments, your tax agent or the Australian Taxation Office will be able to advise you of the possibility of claiming these via your company’s Business Activity Statement. Want to know more about **equipment leasing** or Novated Leasing for motor vehicles? A mortgage broker can point you in the right direction. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/invest-in-your-small-business-with-equipment-leasing/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/invest-in-your-small-business-with-equipment-leasing/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/invest-in-your-small-business-with-equipment-leasing/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/invest-in-your-small-business-with-equipment-leasing/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/invest-in-your-small-business-with-equipment-leasing/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/invest-in-your-small-business-with-equipment-leasing/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Invest%20in%20your%20small%20business%20with%20equipment%20leasing&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finvest-in-your-small-business-with-equipment-leasing%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/invest-in-your-small-business-with-equipment-leasing/#print?share=print) - **Categories:** Loans **Tags:** equipment leasing, lease repayments, small business, variable interest rates --- ### [Product Focus - Low Doc Home Loans](https://www.oceanhomeloans.com.au/product-focus-low-doc-home-loans/) **Published:** May 12, 2014 **Author:** Brad Kirwan **Content:** Most lenders look for the following key attributes for **low doc home loans** applications, to determine your eligibility for the loan sought. These key points are outlined below. - **Self-Employed History:** Your ABN must be registered for a minimum of 6 months and if you are declaring an income greater $75,000 you will also need to be registered for Goods and Services Tax (GST). Some lenders will not accept an application unless you are GST registered, irrespective of your declared income. The longer your ABN and GST registration the better, it demonstrates longevity and consistency as a self-employed business owner. - **Credit History:** Lenders look particularly closely at your credit file and the repayment history of your debts, as they cannot fully verify your income. The major banks are far less forgiving of any problems with your credit history. We do have options if you have a [bad credit history](https://www.oceanhomeloans.com.au/home-loans/bad-credit-home-loans/ "Bad Credit Home Loans") with some of our specialist lenders. - **Equity Contribution:** A minimum deposit of 20% is required for a purchase or 20% equity for a refinance. We do have access to both 85% & 90% low doc home loans, but beware, the higher the percentage of your property value that you are borrowing, the higher your interest rates and fees will be. - **Net Asset Position:** Your net asset position is the total value of your assets minus your current liabilities. The higher this figure the better. - **C**onduct on Existing Credit:**** When you apply for a low doc home loan or low doc investment home loan you may be asked to provide a recent statement on any existing mortgages held and any unsecured debts such as credit cards and personal loans. This is to demonstrate that you are making the obligated payments on these debts and that they are being managed within your credit limits. For refinance transactions it is a standard requirement that you provide 6 months statements for your existing mortgage(s) to be refinanced and generally 3 months statements for any other debts you wish to consolidate (or pay out) from the proceeds of the loan. - **Security Location:** Lenders consider low doc home loans to be a higher risk, hence the restriction to 80% of the property value, in the main. By also restricting the security location to what they consider to be lower risk locations reduces the lenders overall risk. We know which locations are acceptable to the lenders, so it would be wise to check with us first. - **Equity Release:** Or ‘cash out’ as it is often referred to. This is where an applicant is seeking to refinance an existing debt and obtain further funds for personal or investment purposes. Some lenders limit or require evidence for the purpose of the cash out when applying for a low doc home loan. ## What documents are needed for Low Doc Home Loans? Each lender has their own requirements and will accept different document types to prove your income. The main documents that can be used to verify your income are: - 12 month’s BAS statements showing a high turnover - An accountant’s letter verifying your income - 6 to 12 months Business bank statements showing a high turnover All lenders require some form of documentation, under the NCCP Act they are required to have some kind of income verification before they can approve your mortgage. ## Is there anything I should watch out for? Low doc home loans are a higher risk to financial institutions, therefore they place greater restrictions on this type of loan. Below is a list of potential issues to look out for: - **Higher interest rates**: This will mainly depend on the lender and what sort of verification or supporting documentation you are able to provide. Some of our lenders offer the same low rates as they do for full documentation home loans. - **Higher deposit**: 20% of the purchase price is normally required by lenders. - **LMI**: Mortgage insurance is sometimes a compulsory requirement. LMI is applicable only if you borrow over 60% LVR (60% of the property value). Low doc home loans are a simpler mortgage finance solution for self-employed people who have income and assets, but are unable to provide the required financial statements or tax returns at the time of application, and are usually approved on the basis of the applicant self-declaring the income derived from their business. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-low-doc-home-loans/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-low-doc-home-loans/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-low-doc-home-loans/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-low-doc-home-loans/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-low-doc-home-loans/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-low-doc-home-loans/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20Focus%20-%20Low%20Doc%20Home%20Loans&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-low-doc-home-loans%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-low-doc-home-loans/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, credit report, home loan refinance, home loans, low doc home loans, low doc mortgage, self-employed --- ### [Buying together - 4 tips about property co-ownership](https://www.oceanhomeloans.com.au/buying-together-4-tips-about-property-co-ownership/) **Published:** March 17, 2015 **Author:** Brad Kirwan **Content:** With the romance of Valentine’s Day still in the air, many may be feeling the romantic urge to take the plunge and shack up with a loved one, but property co-ownership is a serious business and getting it wrong can have long-lasting repercussions. Certainly, romantic reasons aside, co-purchasing a property can be a great way to improve your buying power and reduce the burden of debt repayments. It also enables you to split other costs such as rates, water and utilities. Whether it’s young love or simply your first transaction together, when it comes to purchasing with a partner, it pays to proceed with caution and avoid letting your heart play tricks with your head! With that in mind, we’ve compiled a range of tips for successful co-ownership, that won’t leave you heartbroken – or broke. ## Communicate You might prefer to avoid tough conversations but successful relationships and successful property transactions are built on communication and honesty. Before diving into anything, discuss your wants, needs, fears and budgets and try to keep emotions at bay. ## Put it in writing It might seem hard to believe now, but relationships can suffer and circumstances can change. No matter how much you love or trust your purchasing partner, preparing a formal property co-ownership agreement and correct legal documentation is essential. A co-ownership agreement should include each owner’s rights, obligations and contributions as well as a plan should one or both of the co-owners wish to exit the investment. ## Structure your property co-ownership correctly There are two main options for joint ownership. As ‘Tenants in Common’, each party owns an agreed share of the property and should one party die, they can bestow their interest to beneficiaries of their choosing. This differs to ‘Joint Tenants’, where if one party dies, their share is transmitted automatically to the remaining owner. ## Seek professional advice To make sure you set about your **property co-ownership** agreement correctly and select the [best loan arrangements](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/ "What does a mortgage broker do and 8 reasons why you should use one") to suit and protect your best interests, be sure to engage the assistance of professionals, including legal advice – and a mortgage broker, of course. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/buying-together-4-tips-about-property-co-ownership/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/buying-together-4-tips-about-property-co-ownership/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/buying-together-4-tips-about-property-co-ownership/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/buying-together-4-tips-about-property-co-ownership/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/buying-together-4-tips-about-property-co-ownership/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/buying-together-4-tips-about-property-co-ownership/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Buying%20together%20-%204%20tips%20about%20property%20co-ownership&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fbuying-together-4-tips-about-property-co-ownership%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/buying-together-4-tips-about-property-co-ownership/#print?share=print) - **Categories:** Property **Tags:** budget, first home buyers, home loan, mortgage broker, property co ownership --- ### [Split rate home loan - the best of variable and fixed interest rates](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/) **Published:** February 12, 2015 **Author:** Brad Kirwan **Content:** If you’ve been thinking about purchasing a new home or [refinancing an existing mortgage](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/ "Why you should be thinking of a home loan refinance"), there has never been a better time thanks to interest rates sitting at historic lows, though a critical aspect to consider is whether it’s better to take out a fixed, variable or split rate home loan. This can have a significant impact on the amount of money you pay in the long run, so it’s important to compare options carefully. With [interest rates this low](https://www.oceanhomeloans.com.au/cut-takes-interest-rates-to-an-historic-low/ "Cut takes interest rates to an historic low"), it follows that a fixed loan may seem like a logical solution. At the moment, less than 20% of all owner occupied home loans are fixed, but the proportion has increased as a result of the low current figures. A fixed rate loan gives you one set interest rate for a pre-arranged loan term, which usually is one, three, or five years. The repayments and interest rates do not change during this term. This can be quite handy when you’re trying to plan a budget, because you know exactly how much you’ll pay each month regardless of movements in interest rates. The risk you take is that if interest rates drop, your repayment stays the same. Another potential downside of fixed loans is that you can only make limited additional repayments, and if you repay your loan early or switch to a variable rate during this term you’ll owe steep break costs. Variable rates offer greater flexibility, free from the rigid terms associated with fixed loans. If interest rates go down, you benefit from this lower rate. You can also choose to keep your monthly repayment the same, which allows you to pay off your loan more quickly and save money over the long-term. Yet, on the other hand, there is always the risk that interest rates will increase, along with your monthly repayments. If you’re thinking about choosing a variable loan, be sure to plan ahead to work out whether you will be able to afford the repayments should interest rates spike. Many variable rate loans offer extra features and incentives to make up for this risk, including [offset accounts](https://www.oceanhomeloans.com.au/how-do-offset-account-home-loans-work/ "How do Offset Account Home Loans work?") and low introductory rates. ## Not Sure? Try a Split Rate Home Loan There are pros and cons to both fixed and variable rate loans and a [mortgage broker](https://www.oceanhomeloans.com.au/6-reasons-why-you-should-use-a-mortgage-broker/ "6 Reasons why you should use a Mortgage Broker") will be able to fully explain these. If you’re on the fence, a third option is to take advantage of both sets of benefits by splitting your loan. This allows you to have part of your loan fixed while part stays variable, for example 50% variable and 50% fixed. This gives you some degree of security, while also retaining the option of paying extra against the variable portion of your loan with no penalty. As you compare fixed, variable and **split rate home loan** options, think about your personal financial situation to find the solution that will work best for you. Are you purchasing a home for the long-term, or do you plan on selling it in the near future? Are you looking for an investment property? Do you wish to pay off your loan as quickly as possible with additional repayments? Even experts find it difficult to predict rate changes, so these are just a few questions to ask yourself as you compare fixed, variable or a split rate home loan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Split%20rate%20home%20loan%20-%20the%20best%20of%20variable%20and%20fixed%20interest%20rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsplit-rate-home-loan-the-best-of-variable-and-fixed-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/#print?share=print) - **Categories:** Loans **Tags:** fixed interest rates, home loan refinance, split loans, split rate home loan, variable interest rates --- ### [RBA sees out 2017 with no Change to Official Interest Rates](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/) **Published:** December 5, 2017 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia has ended the year with good cheer and positive news – still no movement on **interest rates**, which remain at a record low 1.50%. In mid-November, economics writer, Terry McCrann reported the RBA had painted a very optimistic picture of the Australia economy in its latest assessment and outlook. He wrote, “it’s one of overall growth picking up and running quite strongly, low inflation, pretty solid increases in jobs and even wages broadly beginning to pick up a bit of pace.” ## Low Interest Rates Continue to bring Confidence Therefore, many of us can feel confident about our future and will consider our options over the summer break. With no movement on interest rates, some investors will be looking as closely at the property market as their Christmas shopping lists. Adopting a more leisurely pace over the summer break, it could be the ideal time to take stock and possibly spot some unexpected investment gems – perhaps even think seriously about that holiday property you’ve always dreamt of. And, with 2018 nearly upon us, why not make a head start on your New Year’s resolutions? One we’d highly recommend is a [mortgage health check](https://www.oceanhomeloans.com.au/its-time-for-a-home-loan-health-check-up/), which could allow you to make big savings by taking advantage of the low interest rates to pay off your loan sooner. Another suggestion is to take the time to look around your home with fresh eyes and think about how you could add value. Meanwhile, we would like to wish you the very best for the holiday season. With the RBA taking a January break, we’ll return to your inbox in February with more suggestions and all the latest news. As ever, if you have any questions, we’re here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20sees%20out%202017%20with%20no%20Change%20to%20Official%20Interest%20Rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-sees-out-2017-with-no-change-to-official-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/#print?share=print) - **Categories:** Interest Rates **Tags:** home loan refinance, interest rates, investment property, mortgage broker --- ### [Official Interest Rates Steady at 1.5%](https://www.oceanhomeloans.com.au/official-interest-rates-steady-at-1-5/) **Published:** November 7, 2017 **Author:** Brad Kirwan **Content:** Interest rates aren’t necessarily on everyone’s minds at this time of year, with most of the country looking towards Flemington in Melbourne, the members of the Reserve Bank of Australia had their eyes firmly on the official cash rate. The odds were always in favour of the Reserve Bank of Australia keeping the official rate on hold. Since August last year the cash rate has remained at the all-time low of 1.5%. And all bets are on **interest rates** remaining at that level for some time. There’s a lot of good news in the Australian economy – let’s start with the international trade report for September. Australia’s surplus increased to $1.745 billion from $873 million, breezing past expectations for a smaller increase to $1.2 billion. Reserve Bank governor Philip Lowe says, “it’s time to turn a new page”. The RBA is increasingly confident that the slowing effect that the end of the mining boom had on living standards is behind us. ## Low Interest Rates Help to Pay off Your Mortgage Sooner Around this time of the year, many people look at their own home and mortgage. If you have a look at the life of your mortgage, there are a number of ways you could pay it off sooner that won’t affect your lifestyle whatsoever and with interest rates at there lowest ever, there is no time better than now. Here’s a little trick – why not round off your monthly payments upwards – say you pay $2161 per month. Paying the extra $39 a month may allow you to pay off your mortgage up to a year earlier. And of course, if your horse comes in today, why not put that money towards your mortgage – more equity in your home can lead to an [investment property](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/), so you win either way. If you have any questions, we’re always here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/official-interest-rates-steady-at-1-5/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/official-interest-rates-steady-at-1-5/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/official-interest-rates-steady-at-1-5/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/official-interest-rates-steady-at-1-5/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/official-interest-rates-steady-at-1-5/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/official-interest-rates-steady-at-1-5/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Official%20Interest%20Rates%20Steady%20at%201.5%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fofficial-interest-rates-steady-at-1-5%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/official-interest-rates-steady-at-1-5/#print?share=print) - **Categories:** Interest Rates **Tags:** home loan, interest rates, investment property, mortgage broker --- ### [Do you have Genuine Savings for your Home Loan Deposit](https://www.oceanhomeloans.com.au/do-you-have-genuine-savings-for-your-home-loan-deposit/) **Published:** October 24, 2017 **Author:** Brad Kirwan **Content:** Everyone knows you need a deposit to get a home loan, but fewer people realise that the deposit must meet certain requirements and in many cases must be considered as genuine savings. Lenders want to know how your deposit was acquired – did you save it yourself? Was it gifted to you? For lenders, this is an important indication of whether you are capable of the consistent ongoing savings required to repay a home loan. If you are borrowing more than 80% of the property value, most lenders require proof of **genuine savings**. In other words, you will need to show evidence that over time you have been able to save at least 5% of the value of the property (or more if you are purchasing an investment property). ## Any money your family gives you to help with a home loan deposit must meet lender requirements Money that is gifted is usually termed as a ‘non-genuine saving’ because you have not saved it up yourself over time. For it to be considered as a genuine saving that counts towards your home deposit, it needs to sit untouched in a saving account for a least three months (or more). Some lenders, but not all, allow gifted money if parents put in writing that their money is a gift and they do not expect it to be repaid. You must be able to provide evidence that you have the funds available to you. ## Savings in a redraw account may not be considered as genuine savings Not all lenders accept redraw accounts as proof of genuine savings because lenders prefer to see that you have a savings account connected to your everyday banking from which you can show transactional proof of savings and from which money is not withdrawn. ## For rent to be considered as genuine savings, your lease should be from a registered real estate agent Some lenders may consider rental payments as partially meeting genuine savings requirements but they will often add extra conditions, such as a licensed property agent must manage your property, and that you have lived there for a minimum of 12 months. ## Lump sum deposits over time don’t demonstrate your ability to save Lump sum deposits such as commission income, bonuses, or money from the sale of a car or other asset are not viewed as genuine because they don’t show your ability to repay on a regular basis. ## A non-genuine savings home loan product is not always the best solution if you don’t have enough genuine savings for a deposit Non-genuine savings home loans are offered to borrowers who have a non-genuine deposit but don’t want to wait the required three months. These products are convenient but keep in mind they usually come with higher fees and interest rates, which could increase costs over the life of the loan. Want to know more? Contact your [mortgage broker](https://www.oceanhomeloans.com.au/a-mortgage-broker-will-help-you-find-the-mortgage-that-suits-you-best/) who can talk to lenders on your behalf and advise you of the best course of action for your individual situation. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/do-you-have-genuine-savings-for-your-home-loan-deposit/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/do-you-have-genuine-savings-for-your-home-loan-deposit/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/do-you-have-genuine-savings-for-your-home-loan-deposit/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/do-you-have-genuine-savings-for-your-home-loan-deposit/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/do-you-have-genuine-savings-for-your-home-loan-deposit/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/do-you-have-genuine-savings-for-your-home-loan-deposit/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Do%20you%20have%20Genuine%20Savings%20for%20your%20Home%20Loan%20Deposit&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fdo-you-have-genuine-savings-for-your-home-loan-deposit%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/do-you-have-genuine-savings-for-your-home-loan-deposit/#print?share=print) - **Categories:** Mortgage **Tags:** genuine savings, home loan, mortgage broker, mortgage repayments --- ### [Lender Special $1,250 Home Loan Refinance Rebate Extended](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/) **Published:** March 28, 2014 **Author:** Brad Kirwan **Content:** One of our panel of over [30 lenders](https://www.oceanhomeloans.com.au/lenders/ "Our Lenders") has extended their special offer once again, apply for a **Home Loan Refinance** with this lender to receive a $1,250 rebate to your transaction account after settlement, this offer will certainly cover any refinancing costs easily and the interest rate offered could save you even more money. If you feel that this offer is suitable for you then contact Ocean Home Loans as soon as possible and we will help you assess if the offer is indeed the right one for you. ## Anything else I should know about this $1,250 Home Loan Refinance offer? - Your application must be received before 30th of November 2014. - Your loan must settle before 28th of February 2015. - Minimum refinance amount is $250,000. - You must take out the lenders [Professional Package](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates "Professional Package Home Loans – What is a Professional Package?"). - Must have a transaction account with this lender & have loan repayments direct debited to this account in order to receive the rebate. - If the eligibility criteria are met the refinance rebate will be paid within 1 month of the settlement of the loan into the transaction account where the home loan repayments are being paid from. Let us help you to find out if this home loan refinance offer is suitable for your needs and requirements. Other Conditions may apply. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Lender%20Special%20%241%2C250%20Home%20Loan%20Refinance%20Rebate%20Extended&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Flender-special-1250-home-loan-refinance-rebate-extended%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/#print?share=print) - **Categories:** Refinance **Tags:** home loan, home loan refinance, mortgage repayments --- ### [No change in interest rates](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/) **Published:** October 3, 2017 **Author:** Brad Kirwan **Content:** It’s that time of the year – the weather warms, the flowers blossom and the beaches fill up. But as some things change, others remain the same – like the official cash rate. The board members of the RBA have once again decided to keep **interest rates** at the record low of 1.5%. However, that’s no reason for you not to leap into action – after all, spring is a time of renewal. For example – when was the last time you re-looked at your home loan? There’s a lot of competition between lenders – and there are many more options for mortgage holders than the big banks. It’s never a bad idea to see if you can get a better deal. Of course, your current lender won’t want to lose your business, so now is the time to get a ‘home loan health check’. ## Refinance for Better Interest Rates Refinancing your biggest asset has many advantages. You may be considering a renovation, or investing in another property. Perhaps you need funds to pay for a child’s education. Rather than seeking another loan, it’s prudent to take advantage of your current one. If you have a number of debts on higher interest rates, like credit cards, consolidating your debts will allow those higher interest debts to being rolled into your home loan, so they would be covered by a lower interest rate. But remember, it’s not as easy as simply switching banks to obtain a lower interest rate – it’s a complex issue that needs careful consideration. However, if you do it right, you could save a bundle. Over the years, we’ve helped countless clients find a [better mortgage deal](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/) and lower their interest rates. So if you haven’t looked at your current mortgage in years, now’s the time to give us a call – we’re here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20change%20in%20interest%20rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-change-in-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/#print?share=print) - **Categories:** Interest Rates **Tags:** debt consolidation, home loan refinance, interest rates, mortgage broker --- ### [Financial Fitness 5 Step Plan](https://www.oceanhomeloans.com.au/financial-fitness-5-step-plan/) **Published:** November 17, 2015 **Author:** Brad Kirwan **Content:** Financial fitness is not that different to physical fitness. Both take time, moderation and discipline, and both are equally rewarding in terms of improving your quality of life. Here’s a five-step plan for putting your finances in healthy working order. ## Know what you want When you set out to improve your fitness you usually have a goal in mind – maybe you want to look good for summer or be fit enough to keep up with the kids. Do the same with your finances: work out what you want to achieve so that you can make a financial plan for how to get there. ## Make a financial fitness plan To include exercise into your week you have to schedule it in. Maybe you have to wake up earlier? Give up your lunch break? Take the same approach when making a plan for financial fitness: ask yourself what practical actions you can take on a daily and weekly basis to meet your goals. ## Aim for moderation It’s easier to stick with a new habit or goal if you give yourself some flexibility. There will be days when you don’t feel like exercising, just as there will be days when you spend more than [your budget](https://www.oceanhomeloans.com.au/saving-for-a-home-loan-its-all-in-the-budgeting/) allows. Give yourself permission to have these occasional treats. Without moderation you are more likely to give up because it all seems too hard. ## Focus on your weak spots It’s often the body parts you avoid dealing with that need the most attention. For example, if you hate working abdominals, you’ll fail to build strength in that area. A universally disliked financial chore is tracking spending, yet ignoring it won’t make it go away. ## Use mental preparation Starting and maintaining a fitness routine requires willpower, effort and accountability. It’s no different with a **financial fitness** plan because in both situations there is often a lifetime of bad habits that need to be broken. When faced with roadblocks, remind yourself why you are making these changes – to [get out of debt](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/), to afford a new car, to take a holiday. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/financial-fitness-5-step-plan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/financial-fitness-5-step-plan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/financial-fitness-5-step-plan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/financial-fitness-5-step-plan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/financial-fitness-5-step-plan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/financial-fitness-5-step-plan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Financial%20Fitness%205%20Step%20Plan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffinancial-fitness-5-step-plan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/financial-fitness-5-step-plan/#print?share=print) - **Categories:** Loans **Tags:** debt consolidation, financial fitness, home loan, mortgage broker, mortgage repayments --- ### [How a Mortgage Broker can help you set your financial goals](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) **Published:** November 24, 2015 **Author:** Brad Kirwan **Content:** Most people think of a mortgage broker as simply someone who can assist in the process of obtaining credit, but there are many more reasons why you should call on your broker and setting financial goals is just one of them. We all set goals, either consciously or unconsciously, but most of us are content with vague easily set targets that are just as easily forgotten the next day. We sort of know where we’re going and we count upon fate, luck, providence and quick thinking to get us there. This might work sometimes, but it also makes it easy for us to become confused, find excuses or give up. ## Talk to a Mortgage Broker about goal setting Goal setting is one of the simplest and most powerful tools you have to bring about positive changes in your life. Like driving in a big city, it’s harder to find your way if you don’t know exactly where you’re going. Setting goals is like stopping to look at a map – it takes a few minutes to do it, but it makes sure you’re headed in the right direction. Here are some examples of the big picture goals a mortgage broker can help customers achieve. ## Moving to a bigger house We often hear parents say they wished they had moved to a bigger house when their children were young, rather than when they are teenagers and nearly out of home. Parents of young children are often faced with the dilemma of where to prioritise their finances: family holidays, children’s education or a larger home? Some become paralysed by indecision and end up following a path without purpose. To overcome indecision like this it helps to map out your goals – making sure they are specific, measurable, attainable, relevant and time-framed. If your goal is a bigger house then work out your cash flow on paper – what does it look like this year? What do you expect it to look like in three years? Talk to your **mortgage broker** about what funding options are available and what risks you may encounter. ## Funding retirement It’s easy to put your head in the sand about retirement and hope it will sort itself out nearer the time, but unfortunately it rarely does. Property can be used as a means to fund retirement but a successful approach requires goals to be set well in advance. The two commonly used retirement [property investment](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/) approaches are to live off the equity or to live off the rental income, yet many investors don’t have a strategy to ensure their plans bear fruit. Your [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) can help you plan for success by setting you up with the right financing, as well as pointing you in the right direction for specialist financial planning and tax advice. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20a%20Mortgage%20Broker%20can%20help%20you%20set%20your%20financial%20goals&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-a-mortgage-broker-can-help-you-set-your-financial-goals%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/#print?share=print) - **Categories:** Mortgage **Tags:** budget, home loan, mortgage broker, property investment --- ### [No move on Interest Rates again](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/) **Published:** December 1, 2015 **Author:** Brad Kirwan **Content:** The final meeting of the Reserve Bank for 2015 produced no surprises as the Board made the decision to keep **interest rates** on hold. The official cash rate continues to stand at an all time low of 2%. Looking back on the past year, it’s been nothing but good news for the Australian housing market. Now that the traditional ‘spring fever’ has transitioned into the more languid days of summer, we can reflect on an extraordinary year. With one cut of 0.25% to interest rates and seven months of no change, homeowners have managed a sigh of relief, with many choosing to put extra payment towards their mortgage. ## Take advantage of low Interest Rates In fact, Citibank’s head of banking solutions and wealth management, Dierdre Wroth, said early this year that more Australians are taking advantage of low interest rates by culling their debt “They either accumulate cash or they start to de-leverage their debt. We’ve seen different aspects of people managing their debt, paying down the mortgage has become easier and rates are lower.” There may be a present or two in store for mortgage holders and first time buyers. In recent months, regulatory changes have made it harder for investors to apply for loans, thus lowering the competition for that perfect home. The other interesting unusual development this year was how [hot the property market](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/) was in the depths of winter. Without doubt, 2015 has been a year to remember. So while you’re relaxing at home during the holiday season, take some time to consider what your property move may be in 2016. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20move%20on%20Interest%20Rates%20again&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-move-on-interest-rates-again%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, investors, mortgage broker, mortgage repayments --- ### [Housing Affordability, what's our new PM's stance?](https://www.oceanhomeloans.com.au/housing-affordability-whats-our-new-pms-stance/) **Published:** December 8, 2015 **Author:** Brad Kirwan **Content:** On 15 September 2015 Malcolm Turnbull was sworn in as Prime Minister, signalling a new era for the Liberal leadership and this may lead to a different approach to the issue of housing affordability. There could also be a fundamental shift in the way the government addresses economic issues, with the Turnbull government set to be “a thoroughly Liberal government committed to freedom, the individual and the market.” At the heart of Turnbull’s economic ethos is the concept of a ‘free market’, encouraging competition wherever possible. Despite low interest rates, the rate of home ownership for those under 65 is declining, along with wages growth. With the median house price in Sydney now at $1 million, **housing affordability** is an issue felt by many Australians, particularly those in urban areas. While the previous treasurer, Joe Hockey, was in favour of first home owners dipping into their superannuation as a solution to the growing affordability divide, Turnbull clearly stated in March 2015, when he was still a senior cabinet minister, “It’s not what the superannuation system is designed to achieve.” ## Housing Affordability a Supply Side Problem He has expressed his position on the broader issue on several occasions, “Housing affordability is a big issue in Australia but, as we have demonstrated over many studies over many years, this is a supply side problem.” This sentiment is echoed by the new Treasurer, Scott Morrison, who has indicated that while low interest rates and increasing population have kept demand for housing high, he wants to address the issues on the supply side of the equation. With a focus on improving the competitiveness and efficiency of the housing sector, the areas that he has indicated he is set to reform include building development, approval processes and other regulatory constraints in the construction sector. This issue is not new ground for Morrison. As Minister for Social Services he argued for affordable housing to ease the growing levels of homelessness and demand for government-assisted housing. Another area that impacts the demand side is taxation policy and, in particular, negative gearing and capital gains tax. However, both Turnbull and Morrison have remained silent on this issue to date, leaving a question mark over whether these policies will be looked at in their reviews. Regardless of which areas they prioritise, for all existing [home loan customers](https://www.oceanhomeloans.com.au/could-you-be-tempted-by-the-lenders-latest-home-loan-offers/) and those considering [buying their first home](https://www.oceanhomeloans.com.au/are-first-home-buyers-suffering-from-an-affordable-housing-shortfall/), this will be an area to watch with interest. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/housing-affordability-whats-our-new-pms-stance/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/housing-affordability-whats-our-new-pms-stance/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/housing-affordability-whats-our-new-pms-stance/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/housing-affordability-whats-our-new-pms-stance/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/housing-affordability-whats-our-new-pms-stance/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/housing-affordability-whats-our-new-pms-stance/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Housing%20Affordability%2C%20what%27s%20our%20new%20PM%27s%20stance%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhousing-affordability-whats-our-new-pms-stance%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/housing-affordability-whats-our-new-pms-stance/#print?share=print) - **Categories:** Mortgage **Tags:** first home buyers, home loan, housing affordability, interest rates, mortgage broker --- ### [5 Tips to help get your home loan application approved](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/) **Published:** December 15, 2015 **Author:** Brad Kirwan **Content:** Buying your dream home is exciting, so the last thing you want is for your **home loan** application to be held up. While many factors are considered in assessing an application, showing stability and consistency is key for lenders to determine whether you will be able to repay the loan. But sometimes what’s happening in your life can trip you up. Here are some things to be aware of. If you’re at the other end of your kid-wrangling years and looking at returning to work after an extended break, it may be best to wait until you’ve been back at work for a few months before applying for a loan. This will give you time to show stability and consistency in your employment record. Having a consistent employment record doesn’t mean you need to have the same job for years, but if you’re planning on applying for a home loan, it might be best to hold off changing jobs. If you do have to, it’s worth knowing that with some lenders you’ll need to show at least two pay slips with the same employer. If you can show over 12 months in the same job that’s even better. ## Home Loan with a Probationary Period If you have a probationary period in your new role, it could also be difficult to have a home loan approved until you’ve completed it and the role is made permanent. For the self-employed, demonstrating a stable income can be particularly difficult, which is why it’s a good idea to have an accountant. They can help you put together financial statements, which you’ll need to include as part of your loan application. Generally you’ll need at least one year’s history to support your application. If overtime or shift allowances are a significant part of your income, your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) will be able to provide advice on which lenders may take these into account for loan repayment ability, as not all do. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20Tips%20to%20help%20get%20your%20home%20loan%20application%20approved&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-tips-to-help-get-your-home-loan-application-approved%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, home loan, mortgage broker, mortgage repayments --- ### [Buy, Sell or Wait: When to make your Property Market Move](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/) **Published:** December 22, 2015 **Author:** Brad Kirwan **Content:** As we approach the end of the year, the so-called ‘property bubble’ identified by some commentators remains, though there are signs the **property market** could be easing. In Sydney and Melbourne, demand remains strong and housing prices continue to rise, but it’s a slightly different story in some other states, such as South Australia, and particularly in the resources-dependent regions of WA and the Northern Territory. Melbourne currently leads the property pack, overtaking Sydney as the country’s best real estate performer since April, according to CoreLogic RP Data. However, recent figures from the Australian Bureau of Statistics indicate the housing boom may be slowing – at least for now. Investor interest in recent years is largely what has pushed housing prices so high in Melbourne and Sydney, but the ABS figures suggest the growth of property investors – who now comprise around half the total housing finance market – may have peaked. This may be partly due to Australian banks recently introducing new interest rates for property investors, along with other tougher application requirements. The move is expected to counter their dominance in the residential property market, so conditions could become increasingly favourable for owner-occupiers. ## When is the right time to buy and sell? Australians are more property savvy than ever before, but predicting the ideal time to buy and sell is always tricky. The best time to sell depends on many factors – and since the decision to sell is often based on lifestyle changes, the timing might not coincide with ideal market conditions. Selling in a market of high property prices may seem smart, but if you intend to buy a new home at a similar time you’ll probably also pay more for your new property. If you’re concerned about selling in a buyer’s market, before you decide to hold off until the market picks up, check the interest rates. If rates and property prices are low, and you need to buy a new property, this could work in your favour. If you wait until the prices rise, you’ll also be buying in a seller’s market. ## Property Market Selling season Spring has traditionally been considered the best season to sell, but because this is the most popular time, you’ll face more competition, which can affect your selling price. Ultimately, the right time to sell and buy depends on numerous [property market](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/) factors, including the area you live in, the property itself, the current market and your circumstances. It can pay to talk to an expert to discuss the timing that best suits you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Buy%2C%20Sell%20or%20Wait%3A%20When%20to%20make%20your%20Property%20Market%20Move&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fbuy-sell-or-wait-when-to-make-your-property-market-move%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/#print?share=print) - **Categories:** Property **Tags:** home loans, interest rates, investors, property investment, property market --- ### [Do you have Troublesome Tenants in your Investment Property?](https://www.oceanhomeloans.com.au/do-you-have-troublesome-tenants-in-your-investment-property/) **Published:** January 19, 2016 **Author:** Brad Kirwan **Content:** Most tenants are reliable, but if you own an **investment property**, chances are you’ll encounter at least one bad renter. From failing to pay rent through to causing damage or conducting criminal activity, these tenants can harm your return on investment. It can be stressful when things go wrong, but try to stay calm and professional, get familiar with the relevant legislation and address the problem promptly and proactively. ## Don’t let rent slip on your investment property Late rent payments are common, and it’s important to get on top of this issue quickly. You (or your investment property manager) may wish to call or email the tenant the day after rent was due. If payment is still not received, you’ll need to issue a breach notice after the tenant has been in arrears for the number of days prescribed by the residential tenancy laws in the relevant state or territory. ## Taking the next step Whether it’s a late rent payment or another concern such as noise complaints, try to resolve the issue by communicating with the tenant either directly or through your property manager. If this doesn’t work, and the tenant has breached the tenancy agreement, you’ll need to issue a breach notice. ## The last resort: Eviction Evicting tenants is a situation all landlords dread, but unfortunately it’s sometimes necessary. If you’ve issued a breach notice but the breach isn’t fixed in the given time frame, the next step is to issue a notice of termination. However, you can’t just go to the property and kick them out – you’ll need to follow the correct process. Note that the legislation (Residential Tenancies Act or equivalent) varies by state and territory. ## Prevention is better than cure The best way to handle troublesome tenants is to avoid them in the first place. Here are some tips for ensuring a smooth ride: - If you’re not an experienced investor, consider finding a good property manager. - Consider landlord insurance. Your mortgage broker can refer you to a specialist to assist with your insurance needs. - Also, it’s a good idea to follow a rigorous tenant-application process. - Communicate regularly with tenants to stay on top of maintenance issues and resolve potential problems before they arise. - Conduct inspections on a regular basis (check local legislation for guidance on how often you can inspect). Following these simple rules can greatly reduce the risks of your investment property tenant becoming a drain, both on your finances and stress levels. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/do-you-have-troublesome-tenants-in-your-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/do-you-have-troublesome-tenants-in-your-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/do-you-have-troublesome-tenants-in-your-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/do-you-have-troublesome-tenants-in-your-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/do-you-have-troublesome-tenants-in-your-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/do-you-have-troublesome-tenants-in-your-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Do%20you%20have%20Troublesome%20Tenants%20in%20your%20Investment%20Property%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fdo-you-have-troublesome-tenants-in-your-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/do-you-have-troublesome-tenants-in-your-investment-property/#print?share=print) - **Categories:** Property **Tags:** investment property, investors, property manager, rental property --- ### [How to Choose a Home Loan Term](https://www.oceanhomeloans.com.au/how-to-choose-a-home-loan-term/) **Published:** January 28, 2016 **Author:** Brad Kirwan **Content:** Some people pay off their **home loan** in record time, while others take 30 years. Which is better? Deciding on the length of your mortgage term is an important decision because it can significantly affect the amount of interest you pay, as well as have implications for equity and cash flow. With a shorter-term loan you’ll build equity more quickly, which gives you the opportunity to generate a larger profit when you sell. With a longer home loan term you will pay significantly more interest over the life of the loan, but on the flip side, there is more flexibility and less financial risk. ## Shorter Home Loan term For example, a 15 year loan of $430,000 at 4% interest, will cost you $142,518 in total interest paid and $3,181 in monthly repayments. A similar loan over 25 years will nearly double your interest to $250,909 and drop your monthly repayments to $2,270. When making a decision about the loan term, think first about your financial plan and how much you can afford to spend on mortgage repayments. What level of payment can you sustain into the future? Do you have any other high-cost forms of debt? What emergency savings can you fall back on if required? An option we sometimes suggest is to choose a home loan that allows additional repayments at no fee. This allows you to select a loan with a longer term but if you are disciplined you can pay it off as if you had a shorter term. Give your [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) a call today to find out what options are available for your individual situation. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-choose-a-home-loan-term/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-choose-a-home-loan-term/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-choose-a-home-loan-term/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-choose-a-home-loan-term/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-choose-a-home-loan-term/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-choose-a-home-loan-term/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20Choose%20a%20Home%20Loan%20Term&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-choose-a-home-loan-term%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-choose-a-home-loan-term/#print?share=print) - **Categories:** Mortgage **Tags:** financial plan, home loan, mortgage broker, mortgage repayments --- ### [RBA hails 2016 in with no change to interest rates](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/) **Published:** February 2, 2016 **Author:** Brad Kirwan **Content:** The RBA Board, refreshed after the holiday break, has chosen a gentle approach to welcoming in the new year by keeping **interest rates** on hold at a record low of 2%. Most economists believe that rates will remain unchanged for the foreseeable future, which means that many who put buying or selling low on their priority list in December and January may start to now stir. ## Lower dollar supports lower interest rates While the lower Australian dollar isn’t necessary good for those who travel overseas, it’s been a welcomed boost for exports. This, in turn, has led to economic improvements, including the unemployment rate hitting a two-year low. Klaus Baader, chief Asia-Pacific economist at Societe Generale SA in Hong Kong, states that “in many ways Australia has proven to be unbelievably lucky once again.” The Australian dollar was high when the country needed to import and the drop “… helps to contain production costs and it’s contributed to making Australia very competitive even at lower prices.” This is also predicted to help the Australian economy expand 2.6 per cent this year, the fastest pace among 11 developed economies after Sweden. From a property perspective, continued low interest rates foreshadows that 2016 will be less of a rollercoaster ride, allowing more time for careful planning. If this is your year to buy, sell or invest, remember your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) is there to help with any questions. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20hails%202016%20in%20with%20no%20change%20to%20interest%20rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-hails-2016-in-with-no-change-to-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, interest rates, mortgage repayments, variable interest rates --- ### [Pay off your Mortgage or start Property Investing?](https://www.oceanhomeloans.com.au/pay-off-your-mortgage-or-start-property-investing/) **Published:** February 9, 2016 **Author:** Brad Kirwan **Content:** Instead of waiting to pay off your first home, why not invest now? **Property investing** provides a good opportunity to build wealth, but it is not for everyone. If you answer ‘yes’ to the following questions, chances are that investing in a property might be a good fit for you. ## Do you have a high cash flow? As long as your cash flow is high, you are in a good position to enter into property investing, even if you have little equity. If you don’t have the available cash flow to fund the additional debt of a second property, you will find it hard to get ahead. For a lender to approve the home loan finance, they will look at whether you have a stable income that is capable of servicing two home loans on top of the cost of living. ## Do you want to build wealth by property investing? Investing while paying off your home loan has the potential to create an additional source of income and widen your opportunity to build more wealth more quickly. Many people spend a lifetime paying off their home loan and never take advantage of the equity in their property. You can access this [home equity](https://www.oceanhomeloans.com.au/how-using-equity-can-get-you-started-in-property-investing/) to invest in property potentials, providing you with tax benefits and profit through rental income and capital growth. ## Are you comfortable with risk? It can be hard to find the courage to start a property investing portfolio because you fear exposing yourself to debt and risk. You can make the choice to play it safe and stay out of debt, or take the attitude that great investment opportunities warrant the risk. There are ways to minimise risk, such as by seeking expert advice, choosing your investment property wisely and having a strong contingency plan for what to do if things go wrong. A safety buffer of 3-6 months’ worth of repayments and living expenses is an important back up if you find you can’t meet the repayments. Answer ‘yes’ to any of the above questions? If so, give your mortgage broker a call and let them talk you through the options available for borrowing to invest in a second property. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/pay-off-your-mortgage-or-start-property-investing/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/pay-off-your-mortgage-or-start-property-investing/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/pay-off-your-mortgage-or-start-property-investing/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/pay-off-your-mortgage-or-start-property-investing/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/pay-off-your-mortgage-or-start-property-investing/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/pay-off-your-mortgage-or-start-property-investing/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Pay%20off%20your%20Mortgage%20or%20start%20Property%20Investing%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fpay-off-your-mortgage-or-start-property-investing%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/pay-off-your-mortgage-or-start-property-investing/#print?share=print) - **Categories:** Investing **Tags:** investment property, investors, mortgage broker, property investing --- ### [4 Reasons why you should use a Mortgage Broker in 2016](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/) **Published:** February 16, 2016 **Author:** Brad Kirwan **Content:** The start of a new year is a great time to review your finances. Engaging a mortgage broker now will give you a window of time to figure out what processes and practices you can improve upon. Do you need advice on your home loan? Are you getting the best possible mortgage rates and terms? Do you have a mortgage plan customised to your needs? Are you using the equity in your property to its advantage? Here are the top 4 reasons why a **mortgage broker** can help get your new year off to a great start. ## Expert advice Banks deal with all types of loans, whereas brokers are specialists in selling mortgage and mortgage related products. Whether you are a first home buyer, investor or re-financer, your mortgage broker has the knowledge to expertly guide you through the process. They stay up-to-date with new products, promotions and regulations and are a great source of information about all things home loan. ## A Mortgage Broker gives Personal attention There are many steps in the [home loan](https://www.oceanhomeloans.com.au/5-tips-to-help-get-your-home-loan-application-approved/) process and a professional mortgage broker will help you through: taking care of the paperwork, managing the application process, assisting with settlement. They take the time to work one-on-one with you to evaluate your specific needs and find a lender that suits you personally. ## Save money Mortgage brokers have access to a large [network of lenders](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/), which puts them in the driver’s seat when it comes to securing competitive rates and terms that fit your situation. They deliver advice on your financial options, and unlike banks they are not necessary restricted to choosing the products of one lender. ## Save time Often people avoid refinancing their loan because it takes so long to compare one lender to the next. Mortgage brokers can save you the leg work by showing you multiple lender product offerings at just one visit. The amount of time they can save in phone calls and emails to make sure your loan is set up properly and approved on-time is priceless. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%204%20Reasons%20why%20you%20should%20use%20a%20Mortgage%20Broker%20in%202016&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F4-reasons-why-you-should-use-a-mortgage-broker-in-2016%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, home loan, mortgage broker, mortgage repayments --- ### [Is it time for a home loan review?](https://www.oceanhomeloans.com.au/is-it-time-for-a-home-loan-review/) **Published:** February 23, 2016 **Author:** Brad Kirwan **Content:** The spring and summer selling season is starting to slow, home loan interest rates are at record lows – banks are now looking at a slow rise in rates, due to regulatory changes that will make our financial institutions amongst the strongest in the world, so there ever been a better time to perform a health check on your mortgage? Competition for your home loan has never been fiercer, and you will most likely be pleasantly surprised as to what’s on offer. ## Reviewing your current situation is smart planning Can you get a better rate or loan that will suit your immediate goals? Are you preparing for a renovation or investment possibilities? Does your current **home loan** suit you? Here’s a checklist to find out: - Exit fees. Before you do anything, find out if your current loan has an exit fee. This is most likely called a ‘break fee’. - What type of loan is it? There are three basic types – basic, standard and package. Basic loans feature a low interest rate, but are no-frills and have minimal features; standard loans have a higher interest rate but are far more flexible, and home loan packages, which offer a low interest rate and many features, but have yearly fees. - What are your monthly fees? Are you paying a higher than average rate. - Are your fees reasonable? You may be used to paying your fees, but that doesn’t mean they’re reasonable. - Are you happy with the service your lender provides you? Do you find it easy to access your accounts? Have your personal dealings been satisfactory? - Does your loan give you the features you need? There may be features that you would find beneficial. - Features. Are you paying for features on your loan that you’re NOT using (or never will use)? - Have your financial circumstances changed since taking out your loan? For example, you may have initially needed a basic loan but now, you’d like to pay your loan off more quickly. ## Get expert advice home loan advice A [mortgage broker](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/) or independent financial advisor will be able to look at your current loan and compare it with what’s on the market today. Remember, with interest rates low and an increasing number of lenders, finding out your options can never hurt (and quite possibly make an enormous difference). ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/is-it-time-for-a-home-loan-review/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/is-it-time-for-a-home-loan-review/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/is-it-time-for-a-home-loan-review/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/is-it-time-for-a-home-loan-review/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/is-it-time-for-a-home-loan-review/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/is-it-time-for-a-home-loan-review/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Is%20it%20time%20for%20a%20home%20loan%20review%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fis-it-time-for-a-home-loan-review%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/is-it-time-for-a-home-loan-review/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, mortgage broker, mortgage repayments --- ### [Once again no movement in Interest Rates](https://www.oceanhomeloans.com.au/once-again-no-movement-in-interest-rates/) **Published:** March 1, 2016 **Author:** Brad Kirwan **Content:** It’s the first Tuesday of the month, and that means that the members of the Reserve Bank of Australia have met over lunch to discuss the official interest rates. Today (and as predicted by the majority of Australian economists) the members have decided to keep rates on hold at a record low of 2%, which continues to be good news for all mortgage holders. The central bank is also expected to increase its efforts to talk-down the local currency in order to further assist with the rebalancing of the real economy. Although proposed changes to negative gearing (once considered the sacred cow of federal government policies) have been floated by both major parties, REIV President Geoff White believes the proposals lack insight, with renters to be hardest hit. “If investors withdrew from the established home market in this vital property belt, it would cause a significant shortage in rental supply and impact heavily on the Government of the day,” White said. ## Property Market improves due to low interest Rates The property market Australia wide on the back of consistently low **interest rates** continues to improve, with Hobart the best performer where prices rose 2.9%, followed by Adelaide and Brisbane. Prices in Melbourne and Darwin rose 0.3% and 0.4% respectively in February, while Perth prices fell 1.1%, according to Corelogic RP Data’s Head of Research Tim Lawless. “The trend in home value growth is showing signs of increasing in those markets that have previously underperformed. These include Brisbane, Adelaide, Hobart and Canberra,” Mr Lawless said. “Affordability constraints aren’t as apparent in these cities and rental yields haven’t been compressed to the same extent as what they have in Melbourne or Sydney.” Whilst the Sydney property market continues to soften slightly, Sydney property agent Starr Partners’ chief executive Doug Driscoll believes that some have been too quick to write it off. “There’s plenty of life in the old girl yet,” Mr Driscoll said. “If you look at the 10 to 15 year average, Sydney is still well above that average.” While a boom is not likely this year, with experts expecting only single digit growth rates, but with interest rates set to remain low for the forseeable future, the Sydney market will remain robust, rising 0.5 per cent in February, the second rise in 2016. As always, if this is your year to buy, sell or invest, remember as your [mortgage broker](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/) we are here to help with any questions. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/once-again-no-movement-in-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/once-again-no-movement-in-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/once-again-no-movement-in-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/once-again-no-movement-in-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/once-again-no-movement-in-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/once-again-no-movement-in-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Once%20again%20no%20movement%20in%20Interest%20Rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fonce-again-no-movement-in-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/once-again-no-movement-in-interest-rates/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, mortgage broker, mortgage repayments, property investors --- ### [Interest Rates stay at 1.5% - Property Market still Buoyant](https://www.oceanhomeloans.com.au/interest-rates-stay-at-1-5-property-market-still-bouyant/) **Published:** September 5, 2017 **Author:** Brad Kirwan **Content:** There was no spring-cleaning happening at the Reserve Bank of Australia. As expected, the Board decided to keep official **interest rates** on hold at the record low 1.5%pa. Nevertheless, dusting off the cobwebs after winter always brings a sprightly step into the housing market. The psychology of spring is one of change – from diets to housing choices. It’s no wonder that, come this time of the year, more people consider a move. Real Estate Institute of NSW president, John Cunningham, says the mood of both sellers and buyers tends to change as spring begins. “As the flowers come out and the grass grows, mindsets become more dynamic as we come out of the winter hiatus. People feel a lot more optimistic and confident, and that’s the key to all markets.” ## Buying or Selling – Low Interest Rates can Help Many people are keen to think anew and begin to consider the possibility of selling, while others decide it’s a good time to upgrade their current property. New carpet, a coat of paint and a tidier garden can completely change the ambience and help it sell faster when you are ready. However, if you have decided to look for that new home or investment property, with interest rates so low, experts suggest that you secure your financing early. Because property sales increase in September, October and November, lenders typically need to handle an increased workload. The result – longer approval times, which might mean missing out on that perfect home or maybe locking in those low interest rates. If a new purchase before Christmas is on the cards, give us a call now so you don’t miss out. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-stay-at-1-5-property-market-still-bouyant/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-stay-at-1-5-property-market-still-bouyant/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-stay-at-1-5-property-market-still-bouyant/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-stay-at-1-5-property-market-still-bouyant/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-stay-at-1-5-property-market-still-bouyant/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-stay-at-1-5-property-market-still-bouyant/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20Rates%20stay%20at%201.5%25%20-%20Property%20Market%20still%20Buoyant&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-stay-at-1-5-property-market-still-bouyant%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-stay-at-1-5-property-market-still-bouyant/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, investment property, mortgage broker, mortgage repayments --- ### [RBA holds interest rates steady at 1.5%pa](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/) **Published:** August 1, 2017 **Author:** Brad Kirwan **Content:** Neither up nor down – the official cash rate is, well, neutral. This is the 12th month in a row the RBA hasn’t moved on record low **interest rates** of 1.5%pa, and there are signs they will hold steady for the foreseeable future. Although we are deep in the winter months, the usual quiet that falls upon the housing market at this time of the year hasn’t eventuated. CoreLogic Head of Research Tim Lawless says house prices have surged ahead in July. “It’s looking strong, and not slowing as much as expected.” ## Low Interest Rates bring back First Home Buyers Mr Lawless added that a return of first-home owners could be underpinning some of the strength following the introduction of stamp duty concessions or grants in several states on 1 July. The strength in the housing market isn’t just in major cities. In what is being called ‘A push to the bush’, house prices in regional towns are steadily on the increase – many of these areas have seen prices surge by double digits in the past 12 months. Elsewhere, the Australian economy remains strong. On the jobs market, unemployment dropped to 5.6% in June, the best reading since May 2013, leading to 9 consecutive months of job growth. Consumer confidence has jumped to its highest level in 4 years. Homeowners and investors alike can rest assured their biggest asset continues to grow. If you’re thinking about selling, buying or just want more information about interest rates or the market, please don’t hesitate to contact [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/). ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20holds%20interest%20rates%20steady%20at%201.5%25pa&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-holds-interest-rates-steady-at-1-5pa%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, mortgage broker, mortgage repayments --- ### [How home loan redraw works and why it’s a handy loan feature](https://www.oceanhomeloans.com.au/how-home-loan-redraw-works-and-why-its-a-handy-loan-feature/) **Published:** July 19, 2017 **Author:** Brad Kirwan **Content:** It’s one of the less glamorous home loan features, but the redraw facility deserves a second look. Here’s why: ## The redraw facility explained A redraw facility lets you make additional repayments to reduce your variable rate mortgage balance and save on interest. If you pay more than your minimum scheduled repayments, then you’ll have money available to redraw from your mortgage. The redraw facility is a common feature of many home loans, it’s not available, though, on construction loans and only some lenders allow it for fixed rate loans. You can redraw funds if, and when, they are needed, or you can keep the funds in your mortgage to pay off your principal faster. The amount available for redraw is the difference between what you have paid and how much you were required to pay, less one month’s scheduled repayment. ## Accessing redraw You can check your loan account online to view your available redraw amount at any time. Alternatively, you can call your **home loan** customer care team and ask them to check for you. You can withdraw your funds from certain ATM’s depending on your lending provider, but this may attract certain fees and come with restrictions on minimum amounts. ## What happens after using home loan redraw? After you redraw money from your home loan, you continue to make your regular repayments as normal. However, be aware the interest component of the repayments you make will increase since you’re now paying interest on a higher loan principal amount. ## What are the benefits? Like an [offset account](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/), a redraw facility can help reduce the total interest paid on your loan and shorten the life of the loan. And, of course, when you need some cash it’s easily accessible. Depending on your lender, additional payments can be made at no extra cost and redraw funds can be accessed at any time. When comparing loans and choosing the option that best suits your financial needs, remember to consider the redraw facility. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-home-loan-redraw-works-and-why-its-a-handy-loan-feature/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-home-loan-redraw-works-and-why-its-a-handy-loan-feature/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-home-loan-redraw-works-and-why-its-a-handy-loan-feature/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-home-loan-redraw-works-and-why-its-a-handy-loan-feature/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-home-loan-redraw-works-and-why-its-a-handy-loan-feature/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-home-loan-redraw-works-and-why-its-a-handy-loan-feature/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20home%20loan%20redraw%20works%20and%20why%20it%E2%80%99s%20a%20handy%20loan%20feature&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-home-loan-redraw-works-and-why-its-a-handy-loan-feature%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-home-loan-redraw-works-and-why-its-a-handy-loan-feature/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, mortgage broker, mortgage repayments, redraw --- ### [RBA Still on Hold - Interest Rates Remain at 1.5%](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/) **Published:** July 4, 2017 **Author:** Brad Kirwan **Content:** No doubt the Reserve Bank of Australia’s lunchtime meeting on the first Tuesday of every month is more exciting than the announcement that is made at 2:30pm. However, from an outsider’s point of view, it seems not much has happened during their regular gathering as official **interest rates** remain on hold for the 8th month in a row. \[spacer\] ## Low Interest Rates – Continued Optimism Despite the colder weather, housing prices across the country continue to be red-hot. Not only have prices in the bigger cities increased, but other areas are looking good as well. For example, rural optimism is high – 28% of all Australian farmers believe their economic outlook will improve further in 2017-18. On top of that, 59% of farmers expect conditions and interest rates will remain stable, giving Australian country areas much-needed good news. As we move towards the coldest point of the year, it’s a great time to look around your house and see how to add value, even if you’re not planning to sell in the immediate future. Here are some areas to consider: - An external makeover. Never underestimate the importance of ‘curb appeal’. De-clutter your front yard, paint the outside or upgrade the landscaping. - Add (or improve) a deck or terrace. The very nature of our climate means that Australians are big on outdoor living. - Update your kitchen. This room can be the deciding point for many buyers. People want to picture their lifestyles as they look around a home – the latest tiles, bench tops and cabinetry will help fuel their imagination. - A few easy changes even if you live in an apartment: enhance the floors with new carpet, or polish the wooden floorboards; repainting main rooms; add air-conditioning; re-tile the main bathroom or turn gloomy rooms into light, bright areas. - Details, details. Yes, attention to detail is crucial – what you and your family have become used to can turn a potential buyer off in a heartbeat. Adding value can allow you and your family to upgrade lifestyle and enjoy the fruits of your labour, and the cooler days make it easier. Come spring, you’ll be glad you did. If you’d like an outsider’s opinion on what you can do, or discuss the latest interest rates news, your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) is always there to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20Still%20on%20Hold%20-%20Interest%20Rates%20Remain%20at%201.5%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-still-on-hold-interest-rates-remain-at-1-5%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home improvements, home loan, interest rates, mortgage broker --- ### [Get your Investment Property in Shape](https://www.oceanhomeloans.com.au/get-your-investment-property-in-shape/) **Published:** June 21, 2016 **Author:** Brad Kirwan **Content:** Looking for a tenant for your investment property? Thinking of selling? The lead-up to spring is great time to do repairs and maintenance. Here’s a short checklist. A landlord has to provide a safe and livable property for tenants. The best time to do a thorough maintenance check of your **investment property** is before new tenants move in: it’s cheaper than several small call outs and you can do repairs without disturbing people. If you’re in touch with the previous tenants, ask them if anything needs attention. It’s good to know what might cause issues in the near future. ## Visit the investment property and thoroughly check the following: • Plumbing: Turn all taps on and off, flush toilets and watch water drain down each sink. Note any leaks or dripping; slow draining sinks or toilets indicate a blockage. Ensure the hot water system has been serviced. • Gas and electrical: Turn all lights on and off, and test power points. Ensure appliances such as the stove, oven, heating and air-conditioning have been serviced. • Structure: Check the interior and exterior for damage such as cracks in the walls, floor or ceiling, or broken roof tiles. • Fixtures: Make sure ceiling fans, blinds and other fixtures are in working order. Mould is a symptom of bad ventilation and/or poor waterproofing – it’s a health hazard that needs expert attention. Similarly, pests such as roaches, rats and wasps need professional treatment. Hire certified professionals where possible. Their work has a warranty and you may be able to claim their services as a tax deduction. Once you’ve ensured your [investment property](https://www.oceanhomeloans.com.au/six-ways-to-add-value-to-your-investment-property/) is up to scratch, schedule regular maintenance checks at the same time as tenant inspections to ensure everything remains in good condition. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/get-your-investment-property-in-shape/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/get-your-investment-property-in-shape/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/get-your-investment-property-in-shape/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/get-your-investment-property-in-shape/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/get-your-investment-property-in-shape/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/get-your-investment-property-in-shape/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Get%20your%20Investment%20Property%20in%20Shape&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fget-your-investment-property-in-shape%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/get-your-investment-property-in-shape/#print?share=print) - **Categories:** Investing **Tags:** investment property, investors, property investing, property investment --- ### [What's Hot in Property](https://www.oceanhomeloans.com.au/whats-hot-in-property/) **Published:** June 14, 2016 **Author:** Brad Kirwan **Content:**  The **property** market is dynamic, with trends changing from week to week. Here’s what people are talking about right now. This may lead to a shift in the way the government addresses economic issues, with the Turnbull government set to be “a thoroughly Liberal government committed to freedom, the individual and the market.” At the heart of Turnbull’ economic ethos is the concept of a ‘free market’, encouraging competition wherever possible. Despite low interest rates, the rate of home ownership for those under 65 is declining, along with wages growth. ## International property investment hits dizzy heights International buyers continue to have strong interest in local markets, with many real estate agents actively courting overseas buyers to purchase high-end properties. According to the Foreign Investment Review Board, approvals for foreign investment in real estate increased by 57% in 2014-15. There were more than triple the number of approvals than in 2013-14, driven primarily by Chinese investors. Despite government crackdowns and increased taxes in Victoria, investor appetite shows no signs of waning. ## The next pitfall: Over-valuing The dust has just settled on under-quoting regulations and a new problem has already appeared. Agents have started to promise inflated house sale prices in order to sign up scarce vendors. Raised expectations are leaving many sellers holding onto overpriced property, with auction clearance rates reaching a three-year low of 62.1% in the final quarter of 2015. ## Eco-friendly properties The term “environmentally friendly” can mean many things. When buying your next property, look out for features that will give it a five-star eco-friendly rating: • Solar and wind power: Look for homes using these energy-efficient ways to power your home – they can also reduce your carbon footprint. • Insulation and glazing: Good insulation and double-glazed windows regulate the inside temperature and may save you a small fortune in heating and cooling. • Building orientation: North-facing properties benefit from sun during the day, which naturally lights and heats the home. • Building materials: Construction materials can directly impact a property’s environmental footprint. Look for reclaimed wood, recycled and sustainable materials. • Water-saving appliances: From dual-flush toilets to rainwater tanks, these appliances all contribute to saving water. • Natural lighting: Skylights and well-positioned windows bring natural light into your home, reducing your reliance on electricity. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/whats-hot-in-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/whats-hot-in-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/whats-hot-in-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/whats-hot-in-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/whats-hot-in-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/whats-hot-in-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%27s%20Hot%20in%20Property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhats-hot-in-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/whats-hot-in-property/#print?share=print) - **Categories:** Property **Tags:** interest rates, investors, property, property investing --- ### [RBA keeps Interest Rates on hold at record low](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/) **Published:** June 7, 2016 **Author:** Brad Kirwan **Content:** It’s the first Tuesday of the month, and that means that the Reserve Bank of Australia (RBA) has met to determine its June **interest rates** policy. Following their decision to cut rates to a record low-level of 1.75% in May, members have chosen the ‘steady as she goes’ option, keeping rates on hold. This continues the spate of good news for mortgage holders and investors alike. The Australian economy continues to show promising signs, with consumer confidence reaching its highest levels in 2½ years on the back of low interest rates and a surprisingly strong GDP report last week, which showed quarterly growth of 1.1% for an annual rise of 3.1% – the fastest pace in three years. “Australians’ perceptions of the economic outlook have likely been bolstered by the stronger than expected GDP data released last week,” ANZ head of Australian economics Felicity Emmett said. “This report showed that the recovery in non-mining activity continues to gain traction, with housing and consumer spending important drivers.” ## Low Interest Rates Driving Confidence Views towards “economic conditions in the next 12 months” bounced 7% and views towards “the economy in the next 5 years” also rose strongly, up 3%. The strong economic data presented has also been supported by an improvement in the housing market Australia wide, with prices and auction clearance rates showing an improvement over recent months. This, in turn, will help to further support confidence and spending in what is a strong indication of an increasingly buoyant economy. If you are looking to take advantage of the low interest rates and favourable economic conditions, remember to contact your [mortgage broker](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/) with any questions. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20keeps%20Interest%20Rates%20on%20hold%20at%20record%20low&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-keeps-interest-rates-on-hold-at-record-low%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, interest rates, investment property, mortgage broker --- ### [What is the Right Home Loan for Renovations](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/) **Published:** May 31, 2016 **Author:** Brad Kirwan **Content:** You’ve been dreaming of that new kitchen and dining room for as long as you can remember, and now the time has come to put your plans in motion. But do you really have the budget to afford the works? Here are a few things to consider about which **home loan** is right for you before making the leap from Pinterest board to blueprints. ## Work out your budget Before you look at borrowing any money, you first need to work out how much your renovation will cost. Get Ask An Architect to send you their comprehensive guide to costing a renovation. Before your finalise your plans, you can arrange for a building inspector to help identify any structural work that might be needed. Major work could significantly increase your budget, so it may be worthwhile to talk directly to a professional to get a more tailored understanding of how much you’re up for. Architects and master builders are usually happy to provide a quote, so think about getting more than one quote to give you an idea of the range. In addition, add a percentage for contingencies: most experts recommend that you add another 10% to 20% to the overall budget to cover the inevitable delays and complications that arise throughout the renovation process. Once you know what the costs may be, you can start to think about how to raise the cash. Of course, in an ideal world you’ll have saved up at least part of the amount beforehand, but renovations can run into the tens or even hundreds of thousands, so most people will need to borrow some money. ## Unlock your equity If you’ve been in your home for a while, chances are that you have considerable equity, both as a result of paying off your initial home loan and from rising property values. Equity is the amount of your home that you own; that is, the value of your property, less the outstanding loan amount. For example, if your property is valued at $500,000 and you owe $300,000 on your loan, your equity is $200,000 ($500,000 – $300,000 = $200,000). As long as you can meet the repayments and the renovations are likely to add value to your property, most lenders should be willing to lend you a percentage of your equity for home renovations. Depending on your situation, this equity could be accessed through redrawing, increasing your existing loan or refinancing your loan entirely. A mortgage broker will be able to advise on the best option for you. ## Construction home loan Most home loan providers will offer a product called a building or [construction loan](https://www.oceanhomeloans.com.au/advantages-of-a-new-construction-home/), which acts as a line of credit that you can draw on as renovation costs become due. The advantage of these are that you aren’t making repayments on the full value of the loan at once, but only on the progressive loan balance, which will change over time. That means you can start to pay off the first invoice before the next ones come in, saving you money overall. Your broker can assist in checking with your home loan provider whether the loan is ‘interest only’ for an initial period. If it is, this will also help to keep your costs down during the crucial building period. If the provider doesn’t have a specific building loan, they may let you have a general line of credit, which functions similarly. Once the renovations are finished, the loan or line of credit can even be rolled into your home loan. ## Personal loans Especially where a renovation is small – perhaps you just want to update your kitchen without any building works – you might consider a personal loan. As personal loans are generally not secured against your property, the interest rates are usually higher. However, as the term of the loan is much shorter, you should pay less interest over time. Each option has advantages, so it’s worth spending some time considering them carefully. Remember, your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/) can always help you with any questions you might have. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20is%20the%20Right%20Home%20Loan%20for%20Renovations&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-is-the-right-home-loan-for-renovations%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, construction loan, home loan, home renovation --- ### [3 Questions to Ask Before you Refinance your Home Loan](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/) **Published:** May 24, 2016 **Author:** Brad Kirwan **Content:** The **home loan** market is constantly changing, with new and attractive deals coming up all the time. Refinancing can help you secure a more competitive interest rate, access the equity in your home, add features (such as an offset account) or consolidate your debts, but there are some important questions to consider before you get the ball rolling. ## Has my financial situation changed? A refinance is effectively a brand new loan application. All of the personal financial data you had to gather the first time around will need to be produced again. The stability of your income stream, your assets, and your credit card debts and other debts and expenses will all be reviewed, and may impact the result of your application. It’s important to think about your ongoing ability to pay off your loan, particularly if you’re planning on making big changes that will affect your financial situation, such as starting a family or quitting your job to start your own business. Of course, if you’ve just received a big pay rise or are now an empty-nester, this may also make a difference to your loan application. ## Will a home loan refinance really save me money? Negotiating a lower interest rate or consolidating debts may seem like a financial no-brainer, but the fees associated with switching loans can be hefty, so you need to look at all the costs to work out whether you will really be saving money. [Fixed rate loans](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/) can be particularly expensive to exit, and leaving your home loan early will usually see you pay some combination of exit fees, application fees, stamp duty or even legal fees. If you’re borrowing more than 80% of the value of your property, lenders mortgage insurance (LMI) may also be required. Unfortunately, these fees and costs are not usually transferable from one loan to another, so you may need to pay them again even if you paid them when you took out your original loan. ## Am I planning on keeping the property for much longer? If you plan to sell your property within the next few years, refinancing might be a rather big investment of time and energy for little benefit. Similarly, if you only have a small amount left to pay off your home loan, you may want to consider whether it’s really worth going through the process of refinancing for the marginal cost savings you may receive. Refinancing can help you save some money, but it’s worth considering your plans and options before you decide to go ahead with it. If you need some support working out what’s best for you, contact your [mortgage broker](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/). ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%203%20Questions%20to%20Ask%20Before%20you%20Refinance%20your%20Home%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F3-questions-to-ask-before-you-refinance-your-home-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/#print?share=print) - **Categories:** Refinance **Tags:** debt consolidation, home loan, home loan refinance, interest rates --- ### [Studies show that Investing in Property makes Money](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/) **Published:** May 17, 2016 **Author:** Brad Kirwan **Content:** If there’s any doubt in your mind about the value of **property** as a creator of wealth, new research from CoreLogic RP Data has found that you can’t go past real estate when looking for a profitable long-term investment. Researchers used an automated valuation process to obtain current real estate valuation estimates, and from there calculated equity levels for homes around the country. ## Property is now worth double the debt The results clearly showed that in Australia, the average property is now worth almost double the amount of debt against it. This means home owners in either city or regional areas with a mortgage have accumulated 48.4% equity in their properties on average, which is the equivalent of $242,642. New South Wales and Victoria have the highest average level of home equity at 56.6% and 49.3% respectively. The ACT came next at 42.8%, Queensland at 39.9% and South Australia at 39.4%. Even the lowest equity level, in Tasmania, was still an impressive 32.7%, worth $95,427. The research confirms what many [real estate investors](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/) have long believed, that real estate is a solid basis for any wealth creation strategy. To find out more about your property’s potential, give your [mortgage broker](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/) a call. They can help you work out how to access and use the equity to expand your portfolio or pursue your financial goals. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Studies%20show%20that%20Investing%20in%20Property%20makes%20Money&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fstudies-show-that-investing-in-property-makes-money%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/#print?share=print) - **Categories:** Property **Tags:** equity, investment property, property, property investing, wealth creation --- ### [6 things to avoid when selling your property](https://www.oceanhomeloans.com.au/6-things-to-avoid-when-selling-your-property/) **Published:** May 10, 2016 **Author:** Brad Kirwan **Content:** If selling your property was an exam, scoring 100 per cent would bring the reward of less stress and more money. Here’s a cheat sheet of mistakes to avoid in order to pass your exam with flying colours! ## Don’t Wrongly Price Your Property Over-pricing or under-pricing is a common mistake that occurs when **property** owners fail to do sufficient research about what buyers are looking for and what they are expecting to pay. Look at comparable sales in your area and use this data when you are discussing prices with your real estate agent. ## Not tidy up Mess, dirt and clutter turns buyers off because it makes it harder for them to imagine themselves living in the property. Remove junk, personal items and family photos off countertops, shelves and walls. ## Don’t Spend too much on renovations While a coat of paint or re-carpeting can help improve the value of your home, it’s never a good idea to spend considerable money on a major renovation that you may never get a return on. Ways you can improve the presentation of your property without spending a lot of money include de-cluttering, cleaning windows, re-grouting bathroom tiles, adding plants to an outdoor space, fitting a new bench top or splashback in the kitchen, installing new taps or a decorative light fitting in the bathroom. ## Don’t Hide problems When you cover up a problem rather than fix it, the risk is that when the buyer finds out, they will quickly become suspicious about other problems the house might have. Your best strategy is to either repair problems properly or declare them outright. ## Don’t Sell your home empty Homes devoid of furniture often look smaller and less appealing. It’s hard for potential buyers to imagine themselves living in an empty home or their furniture fitting into the space. Professionally [styling your home](https://www.oceanhomeloans.com.au/5-reasons-to-style-your-home-for-sale/) for sale (also known as property staging) is a great option to consider, with anecdotal evidence suggesting it can help sell your home faster and for a better price. ## Don’t Get emotionally involved Thinking with your heart, not your head, can often lead to hasty decisions when selling. It is important to detach yourself emotionally and start viewing your home as though you were a potential buyer. Choose an experienced and reputable [real estate agent](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/) and be prepared to take their advice on board and allow them to lead negotiations with potential buyers. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-things-to-avoid-when-selling-your-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-things-to-avoid-when-selling-your-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-things-to-avoid-when-selling-your-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-things-to-avoid-when-selling-your-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-things-to-avoid-when-selling-your-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-things-to-avoid-when-selling-your-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20things%20to%20avoid%20when%20selling%20your%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-things-to-avoid-when-selling-your-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-things-to-avoid-when-selling-your-property/#print?share=print) - **Categories:** Property **Tags:** home improvements, home loan, investment property, property, selling property --- ### [Interest rates fall to a record low of 1.75%](https://www.oceanhomeloans.com.au/interest-rates-fall-to-a-record-low-of-1-75/) **Published:** May 3, 2016 **Author:** Brad Kirwan **Content:** The economist’s predictions were split – and now we know. It seems as though May is the month for rate cuts, as one year ago was the last time we saw a movement in interest rates. Then it was cut to a record low 2.00% – today, Reserve Bank of Australia has applied a further cut to the official cash rate of 0.25%. It now stands at an historical low of 1.75%pa. While we await tonight’s budget, everyone can rest easy knowing the news is good for mortgage holders, investors or those seeking a new home. If you’re looking to sell, you’ll be pleased to know that Australia’s house prices have moved up in the three months to the end of April with national growth of 2.4%. This is across the board including capital cities and regional areas. If you’re looking to invest, the federal government’s pledge to go ‘hands-off’ on negative gearing will give you a welcomed sign of relief. ## Low Interest Rates are a great time to buy And if you’re looking to buy, the continuation of low **interest rates** combined with a plethora of keen sellers, even in the winter months, means that your options are growing. The recent update of NABs authoritative business survey showed a very solid improvement in both business conditions and business confidence. Their chief economist Alan Oster says, “The latest Survey provides strong evidence that the Australian business environment has not only weathered global uncertainties, but appears to have strengthened. There are also signs that the non-mining recovery is becoming a little more broad-based.” Add to that news of a drop in the unemployment rate in April and a buoyant Australian manufacturing sector and we can all reap the benefits of a buoyant economy. Of course, tonight’s 2016 Budget will also bring some interesting titbits to ponder. If you have any questions about your situation or how these low interest rates affect you, please don’t hesitate to contact your [mortgage broker](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/) at any time. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-fall-to-a-record-low-of-1-75/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-fall-to-a-record-low-of-1-75/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-fall-to-a-record-low-of-1-75/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-fall-to-a-record-low-of-1-75/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-fall-to-a-record-low-of-1-75/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-fall-to-a-record-low-of-1-75/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20rates%20fall%20to%20a%20record%20low%20of%201.75%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-fall-to-a-record-low-of-1-75%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-fall-to-a-record-low-of-1-75/#print?share=print) - **Categories:** Interest Rates **Tags:** interest rates, mortgage broker, mortgage repayments, property investors --- ### [How Property Investors Slash their Tax Bill](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/) **Published:** April 26, 2016 **Author:** Brad Kirwan **Content:**  With some research, preparation and expert advice, smart **property investors** can turn an ordinary tax return into one that will help kick off the new financial year with a smile, here we list five different deductions that you can consider, but remember, always seek out professional tax advice. \[spacer\] ## Claim every allowable expense There are around 20 expenses property investors can claim as tax deductions, including interest on loans, advertising for tenants, phone calls, cleaning, body corporate fees, legal fees and water charges. Refer to the Australian Taxation Office website for a detailed list. You can only claim deductions for the period during the year that the property is rented or available for rent. If the total borrowing expenses are $100 or less, you can claim a full deduction in the income year they are incurred. It’s difficult to remember every expense you incurred over a year if you don’t keep accurate records. Detailing your income and expenses as they happen rather than waiting until year-end will save considerable time and hassle at tax time. ## Take advantage of immediate write-offs Items bought for your property that cost $300 or less can be claimed as an immediate tax deduction. This isn’t the case if the item is part of a set that costs more than $300 (e.g., set of four chairs). ## Understand low value pooling Depreciating assets valued at less than $1,000 can be grouped into a single low value pool and depreciated together. This means you only need to do one annual calculation for the depreciation of all the assets in the pool. For any other assets, you work out the depreciation using the asset’s effective life. For example, an oven worth $1,500 can be used for 14 years, so you could claim a deduction of $107 per year for 14 years. ## Property Investors should seek expert advice on depreciation Residential rental properties built after 17 July 1985 are eligible for depreciation on construction costs, as are some properties built before this date that meet certain criteria. As the rules and conditions can be confusing, it’s well worth seeking the advice of a [quantity surveyor](https://www.sjbqsaustralia.com.au/) who can draw up a depreciation schedule. ## Know the difference between repairs and capital improvements For property investors the expenses of repairs/maintenance can be claimed back straight away, but capital improvements have to be depreciated over a number of years. For example, you can claim an immediate deduction for the cost of replacing part of a fence damaged by a fallen tree, but not if you replace the whole fence because it is old. The new fence would be categorised as an improvement, which you can normally claim at 2.5% a year for 40 years from the date construction was completed. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20Property%20Investors%20Slash%20their%20Tax%20Bill&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-property-investors-slash-their-tax-bill%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-property-investors-slash-their-tax-bill/#print?share=print) - **Categories:** Property **Tags:** depreciation schedule, investment property, property investors, tax deduction --- ### [6 Questions Mortgage Brokers Get Asked](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/) **Published:** April 19, 2016 **Author:** Brad Kirwan **Content:** Over the years as mortgage brokers we’ve fielded thousands of questions by clients on all things home loan, so we thought we’d put together a list of our six most commonly asked questions. ## Can I pay off my loan early? Paying off your loan early can save you thousands of dollars in interest repayments, however some loans like fixed rate will limit the amount or regularity of extra repayments you can make. Variable rate loans don’t usually impose penalties for early repayment. ## Should I put extra repayments onto my loan or in my offset? Making additional repayments to your loan account has the same effect as making them to your 100% offset account. The advantage of using an offset is that you can access the funds again in the future if need be. ## Can I increase my home loan? Yes, you can use the equity saved in your property to borrow additional funds. The amount you will be able to borrow will depend on your financial situation and how much equity is available in your property. There are no penalties for increasing your loan amount if you have a variable rate loan, but if you are on a fixed rate you may have to pay a sizeable fee to break your loan and refinance. ## Do mortgage brokers really get better deals? Absolutely! **Mortgage brokers** are intimately involved with the home loan market and the systems and policies of a large number of lenders. Not only do we know where to find the best deals to suit your individual circumstance, we are in a unique position to be able to negotiate with lenders to achieve special rates and discounts on your behalf. ## How do I calculate how much stamp duty I have to pay? Stamp duty is a tax regulated by state government, so the amount will vary depending on property location and value. Some states offer first-home buyer stamp duty concessions and some charge different rates on investment properties. Stamp duty is a significant cost, so it’s important to get your calculations right. Mortgage brokers have access to calculators that can give you a reliable estimate, but you should contact your conveyancer to ensure that you have the most up to date information. ## Will it cost me a lot to refinance? There are a number of fees involved with [refinancing](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/), so it pays to look at how long it will take you to recoup the costs of refinancing with the savings on the new loan. You can expect to pay stamp duty, as well as fees like discharge, registration, settlement and valuation from your current and new lender. Lender’s Mortgage Insurance (LMI) will apply if your new loan is for 80% or more of your home’s value. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20Questions%20Mortgage%20Brokers%20Get%20Asked&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-questions-mortgage-brokers-get-asked%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, debt consolidation, mortgage broker, mortgage brokers, offset account --- ### [What to Consider when Buying a Second Property](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/) **Published:** April 12, 2016 **Author:** Brad Kirwan **Content:** Buying your own home remains the great Australian dream – and purchasing a **second property** may help you take your wealth further. Whether you’re building your property investment portfolio, buying a holiday house, upgrading or supporting a family member, there are plenty of things to think about before you take that all important next step. ## Consider your cashflow Property tends to be a long-term investment, so do your sums to make sure you can afford the ongoing repayments on two mortgages. Also think about any major life changes on the horizon – for example, you may be planning to expand your family, or you might need to support a parent in the coming years. ## Get to know the market and location Research what’s happening in the current market, and whether it’s the right time for you to invest in a second property. Get to know the area you’re considering by speaking to local residents and real estate agents. It’s also wise to look into the short and long-term planning for the area; for example, nearby construction may affect your ability to find a tenant. ## Investigate before you invest in a second property If you’re buying a property as an investment, carefully consider its location. Buying in a high-demand area is likely to see you enjoy a constant flow of income from the rent. You’ll need to provide your lender with a rental estimate letter, which you can get from the agent managing the property. Keep in mind that generally lenders only take 50–80% of the rental income into account when calculating whether you can afford the loan. ## Choose the right mortgage The amount you can borrow and the type of loan you choose will depend on various factors, including the equity in your current home, your income and expenses, and your property valuation. It helps to get quality advice on the [right mortgage for you](https://www.oceanhomeloans.com.au/do-you-know-which-home-loan-is-right-for-you/), along with other considerations such as negative gearing, and how to structure your loan to maximise tax effectiveness. Whatever your reason for considering a second property, being well-informed will ensure a smoother purchasing process and a financially secure future. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20to%20Consider%20when%20Buying%20a%20Second%20Property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-to-consider-when-buying-a-second-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/#print?share=print) - **Categories:** Investing **Tags:** investment property, mortgage, mortgage repayments, rental property, second property --- ### [No surprises as interest rates remain on hold again](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-remain-on-hold-again/) **Published:** April 5, 2016 **Author:** Brad Kirwan **Content:** Of the 24 economists polled, all predicted today’s outcome – the RBA has settled into a holding pattern, with official cash **interest rates** remaining on 2%. The Australian economy has had some great news of late – business credit has expanded, showing more confidence in commercial markets. Personal credit is down, with many households making the positive step towards decreasing their debt. Furthermore, the Australian Industry Group manufacturing index is at its highest since 2004, which is fantastic for our export market. ## Strong banks help keep interest rates low Australia’s ‘unquestionably strong’ banks are buoying the economy, says David Murray, chairman of the financial system inquiry. Our banks are ‘well ahead’ of our American, European and British counterparts, with increased buffers and improved quality of capital. On the housing front, the seasonal shifts continue as usual. As we head into cooler weather, the housing market settles in for the traditional winter period. This is a good time for [homeowners who are thinking of selling](https://www.oceanhomeloans.com.au/buy-sell-or-wait-when-to-make-your-property-market-move/) to spruce up their biggest asset for the booming spring period and, for investors, there are great opportunities to buy low and reap the rewards of a major renovation. If you’d like some help to plan your next move while interest rates remain low, please don’t hesitate to contact us. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-remain-on-hold-again/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-remain-on-hold-again/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-remain-on-hold-again/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-remain-on-hold-again/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-remain-on-hold-again/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-remain-on-hold-again/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20surprises%20as%20interest%20rates%20remain%20on%20hold%20again&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-surprises-as-interest-rates-remain-on-hold-again%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-remain-on-hold-again/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, interest rates, investors, mortgage repayments --- ### [What to be aware of when buying an Off the Plan Investment Property](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/) **Published:** March 29, 2016 **Author:** Brad Kirwan **Content:** The rise of new apartment developments in our cities provides greater opportunities for potential home owners to buy an off the plan investment property. There are benefits to this, but also a number of issues to be mindful of. We look at some of the things to consider when buying off the plan. ## The benefits of an Off The Plan Investment Property A major benefit of purchasing off the plan is that you’ll own a brand new property. There are also financial benefits; for example, you’ll have the security of knowing how much you’ll pay for the property in the future, even if its value increases. Construction usually takes a year or two, so there’s time to save before you settle. If you need to borrow money towards the deposit, speak to your broker about how to best structure the purchase. Most home loan lenders won’t approve a loan for a long settlement period, but a broker can provide advice about what assurances you can get regarding the amount you may be able to borrow when it comes time to settle. Depending on which state or territory you’re in, you may have access to stamp duty and tax concessions, or government grants. When purchasing as an investment property you may also be eligible for tax benefits. You should consult with your accountant for personal financial advice, specific to your circumstances. ## Things to look out for Off-the-plan contracts try to cover future issues. Check that certain scenarios, such as construction delays or if you want to withdraw, are clearly addressed. Once the building is complete it might not meet your expectations. Speak to a legal advisor before signing the contract to avoid any surprises. Find out whether the developer has taken out home warranty insurance. Depending on the relevant state or territory laws, builders may be required to include a certificate of insurance in the contract. Even if this isn’t the case, you can ask the developer for proof of insurance before you settle. Your [mortgage broker](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/) or home loan lender may help with this as part of the lending process. The **investment property** might be everything you dreamed of, but there’s always a risk the market may have changed by the time you settle. While you can’t avoid this, you should do some homework before you buy. For example, look at properties being built-in the area to work out if there’s likely to be an oversupply. Some lenders may look at the value of your property, rather than what was paid for it, when considering how much they will lend you. It’s worth speaking to your broker about how your property may be valued and what your home loan options are. By exercising a little due diligence you can minimise the risks and reap the benefits of buying off the plan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20to%20be%20aware%20of%20when%20buying%20an%20Off%20the%20Plan%20Investment%20Property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-to-be-aware-of-when-buying-an-off-the-plan-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, investment property, mortgage broker, off the plan --- ### [Do discount Interest Rates really save you money?](https://www.oceanhomeloans.com.au/do-discount-interest-rates-really-save-you-money/) **Published:** March 22, 2016 **Author:** Brad Kirwan **Content:** Don’t jump at special home loan deals where the **interest rates** are low until you have read the fine print. Introductory offers, no rate products and percentage discounts are a popular way for lenders to generate interest in their products, but they don’t necessarily lead to a cheaper home loan overall. You may find that higher fees go with lower interest rates or that you are paying for loan features you don’t need. Borrowers often come to mortgage brokers to help sort out the confusing discounts on the market. It can be difficult for borrowers to compare loans if it isn’t easy to calculate what the actual interest rate is over the full term of the loan. ## There’s more to it than just Interest Rates We tell customers that when choosing a loan, they should look at the whole package, not just one element. It’s important to consider your finance needs, what features you want from a [home loan](https://www.oceanhomeloans.com.au/choosing-the-right-mortgage-for-you/) and how much it will cost in fees. Depending on whether you’re refinancing, renovating, investing, or buying a home for the first time, your loan needs to accommodate your individual circumstance. If an offer of low interest rates catches your eye, always ask for the key details, such as how long the special offer lasts for and what the rate reverts to after that. Check out the comparison rate as this is the actual rate you’ll be paying and it is a useful tool to help compare the cost of different loans. Make sure that you read the terms and conditions attached to special offers. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/do-discount-interest-rates-really-save-you-money/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/do-discount-interest-rates-really-save-you-money/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/do-discount-interest-rates-really-save-you-money/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/do-discount-interest-rates-really-save-you-money/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/do-discount-interest-rates-really-save-you-money/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/do-discount-interest-rates-really-save-you-money/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Do%20discount%20Interest%20Rates%20really%20save%20you%20money%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fdo-discount-interest-rates-really-save-you-money%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/do-discount-interest-rates-really-save-you-money/#print?share=print) - **Categories:** Interest Rates **Tags:** first home buyers, home loan refinance, interest rates, mortgage repayments, property investing --- ### [5 Questions the First Home Buyer should ask](https://www.oceanhomeloans.com.au/5-questions-the-first-home-buyer-should-ask/) **Published:** March 8, 2016 **Author:** Brad Kirwan **Content:** As a first home buyer, you may be asking friends and family who have already bought a first home what to consider before diving in. Here are five questions to ask yourself to see if you are truly ready. ## Is it the right time? Moving house can be stressful and time-consuming, so consider whether it’s suitable right now. Will your children need to move school? Are there work obligations that could make a move challenging? If you’re planning major life changes, like having a baby, you’ll need to factor these in. ## Am I ready? When considering your financial situation, do you have debts, like a personal loan, that you’ll need to manage? Perhaps you can consolidate these into your home loan, or pay off the credit card first. You’ll need to ensure your deposit is big enough to both purchase your new home and cover the costs of buying. ## How much money do I need? While the purchase price of your home will be your biggest cost, there are other expenses to pay. Some other costs include stamp duty, home owner’s insurance, legal fees and removalists. ## Can I afford the repayments? As a **first home buyer** you will need to determine what you can afford by taking your income and deducting regular expenses. Add home-ownership expenses, like rates, and allow for some unexpected costs. Once you understand how much you can afford, work out how much you can borrow using an affordability calculator. ## Are there any first home buyer grants that I can access? The government’s [First Home Owner Grant](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/) (FHOG) scheme may provide a grant of up to $7000 to first home buyers who meet certain criteria. Depending on which state or territory you’re in, and if you’re building your home, there may also be subsidies or tax exemptions available. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/5-questions-the-first-home-buyer-should-ask/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/5-questions-the-first-home-buyer-should-ask/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/5-questions-the-first-home-buyer-should-ask/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/5-questions-the-first-home-buyer-should-ask/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/5-questions-the-first-home-buyer-should-ask/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/5-questions-the-first-home-buyer-should-ask/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%205%20Questions%20the%20First%20Home%20Buyer%20should%20ask&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F5-questions-the-first-home-buyer-should-ask%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/5-questions-the-first-home-buyer-should-ask/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, first home buyer, first home buyers, first home owner grant, mortgage broker --- ### [What you Need to Know about Home Loan Refinancing](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/) **Published:** June 28, 2016 **Author:** Brad Kirwan **Content:** A home loan is generally a long-term proposition, but in some situations it can make sense to refinance your mortgage. Read this guide to the home loan refinancing process, and speak to your broker, before deciding whether it’s right for you. Refinancing involves taking out a new mortgage and using those funds to pay off your existing mortgage. Doing so can save money and result in significant financial gains over time, here are some of the reasons why you might refinance. ## You might want a lower interest rate. The lending products market is highly competitive and interest rates can vary significantly between banks. One of the most common reasons people choose to refinance their mortgage is to secure a lower interest rate from another lender. This could assist you to pay off your home loan sooner, potentially saving you thousands of dollars That makes sense, but before taking any action it’s a good idea to speak with your broker. They can not only look for a better interest rate for you but also help find you the type of lending facility that suits your lifestyle. This may even mean renegotiating a better deal with your existing lender. Either way your broker will help with the right advice. Keep in mind that not all mortgage products are the same. A mortgage with a lower interest rate may not have all the benefits of your existing loan. The interest rates, fees and the features need to be carefully considered and your broker can help you to navigate the options. ## You want to change your loan type You may want to switch from a variable loan to a fixed loan with your existing lender, to lock in a low interest rate. Depending on the type of mortgage you have, this may require refinancing into a different product. You might also have to refinance if you want to change to a split loan, which has part variable and part fixed rates. ## You want to renovate or purchase an investment property Another reason home loan refinancing might be an option is because you want to renovate your home or buy an investment property. If you have equity in your home, you may be able to access some of the equity by refinancing your mortgage. (Note that you could also do this by redrawing or increasing the limit on your existing mortgage.) Your broker can help advise on the best option for you. Before going ahead with an increase or refinance, your home may need to be revalued and your broker will advise how much you can borrow. ## Your circumstances have changed **Home loan Refinancing** could also be suitable if your circumstances have changed – for example, a significant change in your income. By taking out a new mortgage (or increasing your limit on the existing mortgage) through your current broker, you may be able to consolidate other debts, including personal loans and credit cards, into one facility, lowering your monthly payments and saving you interest. While refinancing can save money, it may not be right for everyone. Consider your financial situation and [ask yourself whether refinancing is right for you](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/). ## The home loan refinancing process Getting the refinancing ball rolling is simple once you’ve determined your needs and done your research through your broker. The application. Your broker will evaluate your circumstances and assist you in submitting your application. You’ll be asked to provide identification documentation and proof of income such as pay slips, and to list your assets and liabilities. If you’re staying with your existing lender, you may not need to provide as much information. Getting a valuation. Lenders will often require a valuation on your existing home to determine how much you can borrow. This bank valuation happens during the loan approval process and generally requires an inspection of the property by a licensed valuer. Receiving approval. Once the lender is completely satisfied, full loan approval is granted. You’ll receive an approval letter with a copy of the loan contract to review, sign and return to the lender. Your funds will be cleared once all the signed documentation is reviewed. Your lender (or your new lender if you’re changing lenders) will arrange settlement of your existing loan and establishment of your new loan. There are many reasons why you may want to refinance your mortgage. Before taking any action it’s important to talk with your [mortgage broker](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/). They can help you to select the best loan product for your needs, based on your individual circumstances. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20you%20Need%20to%20Know%20about%20Home%20Loan%20Refinancing&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-you-need-to-know-about-home-loan-refinancing%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/#print?share=print) - **Categories:** Refinance **Tags:** debt consolidation, home loan, home loan refinance, home loan refinancing, mortgage broker --- ### [No Movement as Interest Rates Stay on Hold at 1.75%](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/) **Published:** July 5, 2016 **Author:** Brad Kirwan **Content:** While the country is still distracted by uncertain election results, the RBA has voted for consistency, keeping the official **interest rates** on hold at the all-time low of 1.75%. ## RBA Comfortable with Interest Rates This came as no surprise, with the chief economist of AMP Capital, Shane Oliver stating in advance that the RBA had “expressed a degree of comfort” following June’s decision and was most likely in “wait and see mode” with regard to interest rates. Meanwhile, the results of another vote – more commonly known as Brexit – has resulted in some experts predicting a greater demand for Australian housing as locals rethink their overseas moves and expats consider returning back to our fair shores. Macquarie economic analyst James McIntyre believes that the decision could impact on population growth – and bring a boost to the housing market along with it. He says that the prediction of further interest rates cuts and Great Britain’s decision to leave the EU “could boost housing demand, and confound some of the more aggressive expectations for negative housing spill-overs”. The hike in demand for housing is good news for mortgage holders and investors alike, especially in the winter, when the market usually cools off. If you are thinking of buying or selling, you will no doubt be enjoying an interest rate that is at an all-time low. You can also rest assured that your biggest asset – your home – is still a safe and solid investment. If you are considering any changes in the future, now is a great time to find out your options – as always, your [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) will be able to offer further assistance. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20Movement%20as%20Interest%20Rates%20Stay%20on%20Hold%20at%201.75%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-movement-as-interest-rates-stay-on-hold-at-1-75%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, interest rates, investment property, mortgage repayments --- ### [RBA stays on the fence - interest rates remain on hold](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/) **Published:** April 1, 2014 **Author:** Brad Kirwan **Content:** It’s no surprise that the Reserve Bank of Australia has decided to keep **interest rates** on hold – the ‘steady as she goes’ attitude was predicted by economists leading up to the board’s monthly meeting. This is partly because the RBA is driving a supportive environment for business development, partially because inflation remains within their target range and partly because the housing market remains buoyant. It may also be due to the fact that the governor of the RBA, Glenn Stevens, gave an extremely uplifting overview of the Australian economy when speaking at a conference in Hong Kong last week. ## Current interest rates supporting confidence in the economy Governor Stevens said that that there are “encouraging handover signs from the mining sector to an improvement in other areas, such as business conditions and housing”. He added that both households and businesses are beginning to spend more, pointing to a surge in confidence. He also predicted a boom in the housing construction market and reassuringly disagreed with predictions of a ‘housing bubble’ – “…the price to income ratio has been around four times … for about 10 years, so a very long-running bubble, if it is a bubble. Most do not last that long.” “Interest rates are very low and savers continue to look for higher returns in response to low rates on safe instruments,” Mr Stevens observed. On top of this, February has shown extremely positive signs for the Australian labour market with a healthy increase of 47,000 for overall employment and 80,500 for full-time employment. This upbeat news may be music to the ears of people who are looking to make a move in the housing market as interest rates remain at historic lows. If you’re one of them, find out what your options are by giving us call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20RBA%20stays%20on%20the%20fence%20-%20interest%20rates%20remain%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Frba-stays-on-the-fence-interest-rates-remain-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** interest rates, mortgage repayments, variable interest rates --- ### [Mortgage Broker or Bank Lending Manager - Who would you use?](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/) **Published:** March 3, 2014 **Author:** Brad Kirwan **Content:** You are ready to apply for a home loan but are unsure whether to use a **mortgage broker** or head straight to your bank, the latter could prove to be a costly mistake in the long run. There are many reasons why you’re better off using a finance broker when looking for your home loan, even if you wish to have you mortgage with your current bank, you can still use a broker to process your application and manage the paperwork on your behalf. Here are a few reasons why every borrower should seek out a qualified finance broker when trying to obtain property finance. ## A Mortgage Broker gives options When you sit down with a broker, you have options. You can choose from over 30 different lenders and their products, opposed to visiting a bank manager and being limited to their products and promotions only. With more lenders declining applications, by having more options, you are more than likely to get a yes. ## Greater experience The majority of brokers own their own business and are committed to their clients for the long-term. Banks are bigger companies, they tend to move their staff around more and therefore, you may have a number of bank managers in a 12 month period. You will find that a broker has more industry experience than your average local bank representative, as they are running their own business; they are likely to be your mortgage broker for life. ## Specialised Lending If you need specialised attention with your loan, it pays to use a specialised broker. If you are looking at developing an investment portfolio, look for a broker that has experience in this type of lending. Bank staff don’t always have the necessary training and understanding in these areas and banks tend to adopt a “one size fits all” policy to their customers. ## Staying informed Keeping up with the progress of your loan can be time-consuming and frustrating. By using a broker, they already have systems in place to monitor your application and will keep you informed every step of the way, saving you the hassle. ## Personal banker You will find that a good mortgage broker is like having your own personal banker, but only better! They know what needs to be done and are invested personally, as this is their business and they want to retain your business for the long-term. With staff changes and turnover in the banking industry, you may find a good personal banker only to find they have changed jobs next time you need them. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Mortgage%20Broker%20or%20Bank%20Lending%20Manager%20-%20Who%20would%20you%20use%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fmortgage-broker-or-bank-lending-manager-who-would-you-use%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/#print?share=print) - **Categories:** Loans **Tags:** mortgage broker --- ### [9 Tips to set you on the path to Investment Property Success](https://www.oceanhomeloans.com.au/9-tips-to-set-you-on-the-path-to-investment-property-success/) **Published:** March 14, 2014 **Author:** Brad Kirwan **Content:** Many of those just commencing their journey in **investment property** fail to fully realise the necessity of managing risk, managing risk is one of the key reasons so many property investors are forced to sell before they intend to, frequently at a loss after selling costs are taken into account. So having the right tools, knowledge and [related industry professionals](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/ "Have you Selected your Investment Property Dream Team") on your team are the most important resources to obtain as you begin your journey in property investment. Before you commence your quest to achieve investment property success, you need to select a blueprint that best suits your present situation and why you want to invest in real estate, is it; - To develop a new income stream to live off - To create long-term capital growth to help fund your retirement - To achieve comparatively quick profits through renovating properties and selling them ## Get Up to speed with the latest online Apps and Tools Identify the online apps and tools that will add value to either your property investing knowledge, to your portfolio, or both. There are so many online sites available to investors. Consider tools like DSR walk score calculators, RP Data, [loan repayment](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayment Calculator – Calculate your Loan Repayment") and [stamp duty](https://www.oceanhomeloans.com.au/stamp-duty-calculator/ "Stamp Duty Calculator – Calculate how much Stamp Duty to Pay") calculators etc. ## Remember who pays the agent A real estate agents sole role is to achieve the optimum price for the seller and will use all their powers of persuasion to get you to buy the property you are looking at. They will magnify the positives, mitigate the negatives and do their utmost to get you to purchase the property at the highest price possible. ## Take your time Even if you are looking for a quick purchase keep this to yourself. If you tell the agent you are in a rush, it will enhance the vendor’s negotiating position. – You would be happy for a quick settlement – But getting value and being on or under your purchase budget is your most important consideration ## Be information rich Information is also a great weapon to have up your sleeve when negotiating a real estate deal. Have you spent some time collecting relevant information about the property? For example: - The quality of the location - Problems and defects with the property - Any issues in the surrounding area that may affect your property - Ups and downs of the local economic environment. What better way to convince a seller to lower their price than to remind them of the little things you have noticed that is wrong with their property. Use the power of positive and negative information to assist you during the negotiation process. ## Ask lots of questions If you walk in the door of your next investment property and it meets all your requirements, stay patient. Never let the agent know that your objective is to purchase, at this early stage. Rather, you need to ask questions that will prepare the ground for future negotiations. For example; - Why is the property being sold? - How many people have been through it? - How long has it been on the market? - Has it been to auction and been passed in? - Has the price been reduced since it was listed for sale? - Are there any known defects about the property that the agent or vendor is aware of? ## Do your groundwork and conduct thorough due diligence When you think you are ready to make an offer, pause and consider your position. At the very least, you need to know; - How long the property has been on the market for - Its on-the-market history; any changes in advertised price since it was placed on the market - Its sales history i.e how much the previous owners bought it for - The median sale price and historical capital growth rates of the location - How much comparable properties are selling for (and renting for if you plan to let it as an investment property) - If you are planning on renovating the property then selling, how many similar properties in the area are for sale that have the features you intend to add - An estimated market value based on all the above ## Network online with like-minded people Don’t treat them as competitors, but rather allies. In this social media age there is no excuse not to be able to find like-minded people you can learn from. You may be able to engage with experienced investors who may have a better understanding of a particular concept or a more specific property investing topic. Linked In offers excellent community groups with real-time conversations happening . Twitter is intelligent too; once you establish a group of investors and influential property people you follow (and a few follow back), Twitter’s engine will go out and find more of those types of people for you. ## Attend events and seminars Don’t just rely on online communities; look at attending events such as the Home Buyer and Investor Show, and also local property investment shows and seminars. Just be able to discern between an unbiased/3rd party seminar on a topic; and a property development sales agent trying to sell their stock. ## Have your Investment Property finances ready Finally and most importantly, have your finances ready, for many investors raising capital and sourcing loans is their major roadblock to success. Determining the right financier is all about selecting someone with proven experience in property investment. When you start out in property investment, you will most likely need to apply for a mortgage and this can be done by applying directly through a bank or consulting a mortgage broker with property investment experience, by utilising the skills of an experienced mortgage broker to help hunt down the best finance options possible, over time, will save you money and potentially increase your borrowing capacity. Every lender treats the assessment of your investment property loan differently, from the percentage of the rent allowed, to either accepting negative gearing or even allowing you to borrow more if choosing a fixed interest rate. A strong and continuing relationship with your broker of choice is key to your success as a property investor, but be sure to find a mortgage broker who is not attached to a real estate or property development sales office. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/9-tips-to-set-you-on-the-path-to-investment-property-success/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/9-tips-to-set-you-on-the-path-to-investment-property-success/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/9-tips-to-set-you-on-the-path-to-investment-property-success/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/9-tips-to-set-you-on-the-path-to-investment-property-success/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/9-tips-to-set-you-on-the-path-to-investment-property-success/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/9-tips-to-set-you-on-the-path-to-investment-property-success/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%209%20Tips%20to%20set%20you%20on%20the%20path%20to%20Investment%20Property%20Success&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F9-tips-to-set-you-on-the-path-to-investment-property-success%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/9-tips-to-set-you-on-the-path-to-investment-property-success/#print?share=print) - **Categories:** Property **Tags:** borrowing capacity, investment property, investors, property investing, property investment, rental property, stamp duty --- ### [Interest Rates To fix or not to fix - that IS the question](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/) **Published:** March 19, 2014 **Author:** Brad Kirwan **Content:** Mortgage holders have never had it so good, the last rise in **interest rates** was in November 2010 – since then, rates have slowly dropped to what is today an historic low cash rate of 2.50%. The majority of economists expect 2014 to be a year ‘on hold’ with most predicting the only way is up. But when will the RBA make a move – and should you consider fixing your rate? ## It’s all in the timing At the moment, fixed interest rates are higher than variable, this is because of simple human behaviour – banks know that most people will fix their rates when they believe a rate rise is inevitable, therefore they need to take into account potential losses. So if you’re going to be paying a higher interest rate you may very well ask: “why should I change?” In a word: predictability. Fixed rates give you an amount of certainty, and in planning your monthly finances this is something that is highly attractive to many families. When interest rates start to rise, mortgages will take a larger chunk out of the monthly pay packet. Timing is extremely important because, if you decide to fix your rate and the RBA then announces a cut, you’ll feel cheated. Fixed rates are only for a certain period of time (usually one to five years), if you fix now and then rates don’t move for another ten months, you’ll also feel as though you’ve lost out. ## When will interest rates rise? If we had a crystal ball that told us exactly when the RBA will begin to increase rates, there would be a stampede to lenders the day before it happened. You need to accept the fact that fixing is speculative – and therefore you’re taking a risk. This is why a lot of people choose to fix only a portion of their mortgage – you can fix 30%, 50% or whatever you feel comfortable with. The rest of your mortgage can remain flexible. That way, you’ll feel like have all bases covered. As for the experts, their predictions are mixed as to whether official rates will go up (some even think another drop is on the cards). However, the ‘Business Day’ panel of 25 of Australia’s leading forecasters in the diverse fields of market economics, academia, consultancy and industry associations unanimously predict that 2014 will be a year of no movement. Deciding when to fix interest rates (or whether to fix at all) is a personal decision. In the end, you’ll need to make the call (and cross your fingers for the best). ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20Rates%20To%20fix%20or%20not%20to%20fix%20-%20that%20IS%20the%20question&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-to-fix-or-not-to-fix-that-is-the-question%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-to-fix-or-not-to-fix-that-is-the-question/#print?share=print) - **Categories:** Interest Rates **Tags:** budget, fixed interest rates, home loan refinance, interest rates, mortgage, mortgage repayments --- ### [The rise of Apartment living - an Investment Property opportunity](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/) **Published:** March 21, 2014 **Author:** Brad Kirwan **Content:** Astute investors are finding that apartments are now the ideal way of entering into the world of **investment property**, there was a time when the Australian dream was to own a house with its own block of land. A place where the kids play in the garden while mum hangs out the washing and dad mows the lawn. This scenario may still exist, but there’s been a marked shift away from that dream and both developers and buyers are now favouring apartment living, especially in suburbs closer to the inner city areas. All the major cities in Australia are clearly demonstrating this trend: in Sydney, around half of all housing properties sold are apartments, in Melbourne it’s about 30% and Brisbane around 25% and increasing (according to RP Data research). ## Why is this happening? There are many factors that are dictating why more of us are choosing to live in an apartment, rather than a house. One reason is price – the cost of land and housing in inner city areas has risen sharply and apartments are far cheaper to build and more affordable for the majority of buyers. Another explanation is that there has been a considerable decrease in the number of people per dwelling. While not up to date, even the 2006 census figures showed that the number of people per home was 2.46 people, compared to 3.24 40 years ago. Today, that disparity would have grown even further as less of us are having children and more households consist of single parent families, couples without children or those who live alone. Other trends such as increased cost and journey times in cities, greater numbers of women in the workforce and longer working hours are all contributing factors that drive more people towards apartment living. So, with less spare time, smaller families and a desire to avoid long travelling delays, it’s not surprising that apartment living has become increasing desirable. Reflecting these changes, a recent report by Colliers International found that apartment building approvals had risen from 25% in 2009 to 43% in 2013. In particular, Sydney and Melbourne demonstrated this movement where apartment approvals exceeded those of houses. ## Money talks with investment property While there are less owner/occupiers in the apartment market, investors are attracted by strong demand for investment property in the rental market, especially in CBD and inner city suburbs close to the centre. Elsewhere, RP Data research found a long-term swing to apartments holding their value better than houses. Investors and landlords are also aware that rents have increased to a compound annual rate of 8.45%, with apartments demonstrating much higher yields than houses. Another significant change is an attitudinal one – Australians appear to have become more fiscally conservative during the last 5 years (post GFC) and show a greater desire to live within their means. Again, the comparative affordability of apartments compared to houses has helped to increase the demand for them among property purchasers. ## The future Everything points to these trends to continue as local governments show a desire to make inner city areas more attractive for dwellers. Improved transport, cycle lanes and more food and convenience stores all make city living increasingly desirable. Developers are meeting the expectation of people who choose apartment living. Increasingly, fit-outs are designed more imaginatively and features such as gyms, swimming pools and even bars and rooftop cinemas are becoming more common. The next step (one not yet achieved), is when more owner/occupiers decide to invest in apartments, rather than the majority being bought as an investment property by investors, only time will tell the result of the apartment vs. house battle. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20rise%20of%20Apartment%20living%20-%20an%20Investment%20Property%20opportunity&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-rise-of-apartment-living-an-investment-property-opportunity%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/#print?share=print) - **Categories:** Property **Tags:** investment property, investors, property investing, variable interest rates --- ### [How do you find the ideal tenants for your rental property?](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/) **Published:** March 24, 2014 **Author:** Brad Kirwan **Content:** We’ve all heard the horror stories – tenants ends up trashing a **rental property** then leave with no forwarding address. Don’t panic – the vast majority of tenants are trustworthy. However, ‘Tenants From Hell’ are out there – and it’s the last thing you need as a landlord. Here are some tips to ensure a happy relationship. ## Tenant Checks Whether you’re handling this yourself or you have employed [property managers](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/ "8 Questions you must ask your Investment Property Manager") to handle the day-to-day running of your rental property, make sure you check with former landlords – but don’t take everything they say at face value. Some people sugar coat references for a number of reasons: they want to move their tenant on; they are aware that libel laws apply to references and are afraid they will say the wrong thing; or they just aren’t aware of certain facts (such as a nasty surprise that awaits them after the tenants vacate the premises). When asking questions of the referees, it’s best to stick to asking facts, not opinions: do they pay their rent on time; did they (the previous landlord or property manager) perform regular inspections; are they planning to return the full bond to the tenant once they leave? If there is any hesitation in answering factual questions, it may be for a reason. Credit checks are also recommended, but you’ll need written permission from the applicant. However, even the most trustworthy of people can have a black mark on their credit rating for one reason or another. If they’ve offered a contact number for their employer, ensure that it’s a landline and not a mobile. It’s also a good idea to call the main switchboard and ask for the employer by name, just to ensure the bona fides of the reference. And remember, if you are planning on asking for written references, you must ensure that every referee is actually contacted (and reached). ## Alarm bells What else should you look for? Vague answers, discrepancies and avoidance. If anything on their reference doesn’t correlate with another person’s (for example, if they write down a referee phone number incorrectly) it may be more than just a simple mistake. ## Don’t overdo it – you don’t want to lose ‘the perfect rental property tenant’ After all of the above, it’s only natural to be cautious, however wise it is to do the proper checks, if you put a potential new tenant of your rental property through so many hoops that the process becomes too hard, you may risk scaring off ‘the right one’, At the end of the day, a little common sense goes a long way. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20do%20you%20find%20the%20ideal%20tenants%20for%20your%20rental%20property%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-do-you-find-the-ideal-tenants-for-your-rental-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/#print?share=print) - **Categories:** Property **Tags:** credit report, investment property, property investing, property investment, rental property --- ### [Taking the stress out of Home Loan applications](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/) **Published:** March 31, 2014 **Author:** Brad Kirwan **Content:** The thought of completing a **home loan** application may seem overwhelming, but it doesn’t have to be a stressful process. As with many things in life, a little preparation goes a long way. Home finance applications need not be a daunting thought! During the application process there are a few things you can expect to encounter. Lenders approve your mortgage based on the information provided in your application, so familiarising yourself with the information needed, requirements you need to meet and some general loan terms, can help ease the process and relieve any anxiety you may be experiencing. ## Identity requirements Lenders typically ask for as much information as possible. You will require photographic proof of identity, such as a passport or driving licence, although proof of age card may also be adequate. Secondary documentation is also likely to be needed, such as a Medicare card, rates notice or utility bills no more than three months old. ## Proof of income It is important that you can fully illustrate your financial situation. To determine the total borrowing available, your payslips, employer references and bank statements will be important elements to include in your application. ## Declaration of assets For lenders to fully establish borrowing capacity, it is important to declare anything you own. Bank statements for your savings accounts and term deposit accounts are worth bringing with you when applying. ## Establishing liabilities or debts It is also imperative to establish any outstanding debt you have at the time of the loan application. Financial obligations you should consider can include other loans, credit cards and Higher Education Contribution Schemes (HECS). You must also consider all other repayments or debts you may have in the future. ## Your expenses and budgeting for a home loan Establishing your ability to make your loan repayments, whether monthly or otherwise, is crucial to lenders when approving your mortgage application. When applying, be prepared to account for all your monthly outgoings and expenses. You should document all outgoings, whether they seem small or large. Account for rent, utility bills, phone bills, travel and living expenses. Also factor in leisure activities and expenses such as gym memberships, plus any insurance premiums you pay. Being realistic and thorough in your preparation before your home loan application will not only help your lender evaluate your situation, it will also give you a good indication of what you can realistically afford. While you may need to overcome a few obstacles in the application process, arriving prepared can make the whole process run a lot smoother, if you would like to discuss home loan application requirements further, please don’t hesitate to contact us for more information. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Taking%20the%20stress%20out%20of%20Home%20Loan%20applications&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftaking-the-stress-out-of-home-loan-applications%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, budget, first home buyers, first time home buyer, home loan, mortgage, mortgage repayments --- ### [A well maintained Investment Property is a must](https://www.oceanhomeloans.com.au/a-well-maintained-investment-property-is-a-must/) **Published:** April 16, 2014 **Author:** Brad Kirwan **Content:** Renovating your **investment property** might seem a little bit unnecessary as an investor because you don’t get to take advantage of the outcome by living in the home personally. After all, a properly maintained property will not only ensure that you have [contented tenants](https://www.oceanhomeloans.com.au/how-do-you-find-the-ideal-tenants-for-your-rental-property/ "How do you find the ideal tenants for your rental property?") but may also increase the return from your investment. Upgrading your existing property may increase your current rental return, enabling you to expand your property portfolio. Improving existing assets can increase the appeal of the **investment property** and can lessen the time between letting, appeal to a more desirable bracket of tenants or retain valuable tenants for longer. Furthermore, when that all important time to sell your property arrives, you will have added value. Before making the decision on how to spruce up your rental property you should take into consideration several crucial points. ## It might be an investment property but what would make you feel at home? With the prices of homes being out of the financial reach of many [first time buyers](https://www.oceanhomeloans.com.au/how-to-be-a-fully-prepared-first-time-home-buyer/ "How to be a fully prepared First Time Home Buyer") such as young couples and families, they choose to rent instead of buying. This can lead to long-term tenancies and making them feel comfortable is important, giving them a sense of ‘home’. Take a step back and run a critical eye over the property, what changes would make you feel at home and happier living there, you’ll find your tenant probably would feel the same. ## Minor repairs or Major renovations? It is essential to increase the potential of your property without over-capitalising, before you start knocking down walls, investigate small repairs that might work without investing in a full-scale renovation. Installing fresh blinds and curtains or other new trappings such as door handles can quickly help with aesthetic appeal. Space is always a premium in residential property so consider built-in desks and storage units. Update old appliances such as dishwashers and install air conditioning units. Consider energy-efficient appliances in particular as sustainability of homes is a great selling point. A quick clean and lick of fresh paint on the walls can revitalise the interior of the property, but if you feel the need to make some more serious changes look to the more important rooms first. Kitchens and bathrooms tend to be the most used and consequently tired spaces in an investment property so update those areas before bedrooms or living rooms. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/a-well-maintained-investment-property-is-a-must/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/a-well-maintained-investment-property-is-a-must/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/a-well-maintained-investment-property-is-a-must/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/a-well-maintained-investment-property-is-a-must/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/a-well-maintained-investment-property-is-a-must/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/a-well-maintained-investment-property-is-a-must/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20A%20well%20maintained%20Investment%20Property%20is%20a%20must&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fa-well-maintained-investment-property-is-a-must%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/a-well-maintained-investment-property-is-a-must/#print?share=print) - **Categories:** Property **Tags:** first home buyers, home improvements, home renovation, investment property, property investing, rental property --- ### [Fixed or Variable Rates - but why not a Split Rate Loan](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/) **Published:** April 11, 2014 **Author:** Brad Kirwan **Content:** If you’ve been thinking about securing a home loan, now is a great time thanks to interest rates sitting at historic lows, though a critical aspect to consider is whether it’s better to take out a fixed, variable or split rate loan. This can have a significant impact on the amount of money you pay in the long run, so it’s important to compare options carefully. With interest rates at historic lows, it follows that a fixed loan may seem like a logical solution. At the moment, less than 20% of all owner occupied home loans are fixed, but the proportion has been increasing as a result of the low current figures. A fixed rate loan gives you one set interest rate for a pre-arranged loan term, which usually is one, three, or five years. The repayments and interest rates do not change during this term. This can be quite handy when you’re trying to plan a budget, because you know exactly how much you’ll pay each month regardless of movements in interest rates. The risk you take is that if interest rates drop, your repayment stays the same. Another potential downside of fixed loans is that you cannot only make limited additional repayments, and if you repay your loan early or switch to a variable rate during this term you’ll owe steep break costs. Variable rates offer greater flexibility, free from the rigid terms associated with fixed loans. If interest rates go down, you benefit from this lower rate. You can also choose to keep your monthly repayment the same, which allows you to pay off your loan more quickly and save money over the long-term. Yet on the other hand, there is always the risk that interest rates will increase, along with your monthly repayments. If you’re thinking about choosing a variable loan, be sure to plan ahead to work out whether you will be able to afford the repayments should interest rates spike. Many variable rate loans offer extra features and incentives to make up for this risk, including low introductory rates. ## Not Sure? Try a Split Rate Loan There are pros and cons to both fixed and variable rate loans. If you’re on the fence, a third option is to take advantage of both sets of benefits by splitting your loan. This allows you to have part of your loan fixed while part stays variable, for example 50% variable and 50% fixed. This gives you some degree of security, while also retaining the option of paying extra against the variable portion of your loan with no penalty. As you compare fixed, variable and **split rate loan** options, think about your personal financial situation to find the solution that will work best for you. Are you purchasing a home for the long-term, or do you plan on selling it in the near future? Are you looking for an investment property? Do you wish to pay off your loan as quickly as possible with additional repayments? Even experts find it difficult to predict rate changes, so these are just a few questions to ask yourself as you compare fixed, variable or a split rate loan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Fixed%20or%20Variable%20Rates%20-%20but%20why%20not%20a%20Split%20Rate%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffixed-or-variable-rates-but-why-not-a-split-rate-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/fixed-or-variable-rates-but-why-not-a-split-rate-loan/#print?share=print) - **Categories:** Interest Rates **Tags:** fixed interest rates, home loan, home loan refinance, mortgage repayments, split loans, split rate loan, variable interest rates --- ### [Getting your Finances ready - A Home Loan Pre Approval](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/) **Published:** April 9, 2014 **Author:** Brad Kirwan **Content:** Getting a **home loan pre approval** before you start looking for your first or next property purchase will give you the confidence to allow you to find that property without the worry and second guessing that comes from financial uncertainty. Seeking a home loan pre approval is a great way to put yourself ahead of the pack in the real estate market, allowing you to make precise decisions with the knowledge that you have the finances to back up your offers. Whether you’re interested in purchasing at auction or looking to secure property through a private treaty sale, the benefits of being able to act immediately cannot be overlooked. Even more so with auctions, when sellers often expect the paperwork to be signed immediately following the proceedings. If your finances aren’t ready, you could find yourself missing out. ## Speak to a Mortgage Broker about getting a Home Loan Pre Approval Speaking with a mortgage broker about getting a pre approval will give you clarity about the type of properties you should be looking into. For example, having a clear understanding of your borrowing capacity could provide you with search guidelines and framework – helping you to focus your search and complete a successful purchase. What’s more, pre approvals are valid for a period of three months, dispensing with the need to make rushed decisions and allowing you to search at your own pace. If you fail to find anything suitable during this period, applying for another pre approval is simple and easy, taking the stress out of the equation. If you’re interested in purchasing property in the near future, now could be the perfect time to contact a professional mortgage adviser and begin discussing the various options open and available to you. You can contact an Ocean Home Loans mortgage broker on 07 5593 1420 for home loan pre approval advice, or complete our [enquire online form](https://www.oceanhomeloans.com.au/enquire-online/ "Enquire Online") and we’ll call you! ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Getting%20your%20Finances%20ready%20-%20A%20Home%20Loan%20Pre%20Approval&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fgetting-your-finances-ready-a-home-loan-pre-approval%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/getting-your-finances-ready-a-home-loan-pre-approval/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, first home buyers, home loan, home loan pre approval, mortgage repayments, pre approval --- ### [How a Guarantor Home Loan can help you enter the Property Market](https://www.oceanhomeloans.com.au/how-a-guarantor-home-loan-can-help-you-enter-the-property-market/) **Published:** July 12, 2016 **Author:** Brad Kirwan **Content:**  Struggling to save enough to buy a property? You may want to ask your family if they can provide a helping hand in the form of a family guarantee loan. This is when the equity in a family member’s home is used as security on your loan. Also known as a family pledge or **guarantor home loan**, it is a type of mortgage that allows you to borrow more money and provide less of a deposit. Usually when a loan is more than 80% of the purchase price (80% LVR) you will have to pay lenders mortgage insurance, but a family guarantee means you won’t have this extra expense. It’s even possible to avoid paying any deposit because the equity in your family’s home can act as a deposit. This ‘guarantee’ makes it possible for you to borrow the full 100% cost of the home, plus stamp duty and legal fees. Lenders mortgage insurance will still be payable if you borrow over 80% of a property’s value. There are many issues to consider when taking out family guarantees and it pays to keep in mind that loan terms and conditions can vary between lenders. Not all lenders even offer these type of loans, so give us a call and we can advise you which lenders would best suit your situation. Here are some of the common questions we get asked about guarantor home loans. For more detailed information about any of the following, don’t hesitate to get in contact. ## Does the entire loan have to be guaranteed? No, the loan can be split, enabling the equity in your family’s property to be used as security for a small portion of the loan, for example 20%. The lender will take a mortgage out over the guarantor’s property to this specified amount. ## Who can act as guarantors? Guarantors are usually parents, but some lenders under certain conditions will accept grandparents, siblings, a de facto partner or a former spouse. To be approved by a lender they must provide enough equity to cover the amount being guaranteed and in most cases do not need to show proof of income. Normal lending criteria will apply in all circumstances. ## What are the risks of a guarantor home loan? There are risks involved, which is why it is important for the guarantor to know what they are getting into. Some lenders even require legal advice is sought to ensure the guarantor understands that if there is a default on repayments, they will be the ones held liable. ## How long does the guarantee have to be in place? If the guarantor home loan is structured correctly, the guarantee doesn’t need to be in place for the entire duration of the loan. Once you have [repaid the portion of the loan](https://www.oceanhomeloans.com.au/how-to-get-maximum-benefit-from-a-home-loan-offset-account/) that is guaranteed or your property has increased in value, the guarantor can be released. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-a-guarantor-home-loan-can-help-you-enter-the-property-market/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-a-guarantor-home-loan-can-help-you-enter-the-property-market/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-a-guarantor-home-loan-can-help-you-enter-the-property-market/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-a-guarantor-home-loan-can-help-you-enter-the-property-market/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-a-guarantor-home-loan-can-help-you-enter-the-property-market/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-a-guarantor-home-loan-can-help-you-enter-the-property-market/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20a%20Guarantor%20Home%20Loan%20can%20help%20you%20enter%20the%20Property%20Market&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-a-guarantor-home-loan-can-help-you-enter-the-property-market%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-a-guarantor-home-loan-can-help-you-enter-the-property-market/#print?share=print) - **Categories:** Mortgage **Tags:** family pledge loan, first home buyers, guarantor home loan, home loan --- ### [The Ultimate Guide to Home Loan Pre-Approval](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/) **Published:** July 26, 2016 **Author:** Brad Kirwan **Content:** When it comes to shopping for a property, a home loan pre-approval can give you the winning edge. It shows real estate agents that you are serious about buying a home and it places you in a good position to move quickly and get your finances sorted ahead of other buyers. Although it is not a guarantee of how much you can borrow, a pre-approval gives an indication of what you can afford. Like any type of shopping, it helps to know in advance where you can safely buy and where you can only window shop. There is no cost involved to obtain pre-approval and your mortgage broker will be able to guide you through the process, helping you to understand your borrowing capacity and the type of home loan that might suit. ## When to apply for a Home Loan Pre-Approval Only apply for your **home loan pre-approval** once you are ready to take the next step from inspecting and researching properties. Typically, the approval will only last 90 days so don’t apply for one until you are seriously considering purchasing. ## What to have ready The lender will ask you to verify your personal and financial details and provide evidence in the form of pay slips, tax returns, bank statements and identification documents. You will also have to provide information about any outstanding debts. To ensure a reliable and accurate pre-approval, be honest about any anticipated changes to your personal circumstances, such as a redundancy or starting a family. ## What’s the next step? Your Pre-app is not a guarantee of finance from a lender so you will still have to obtain full (or formal) approval once you have found a property. It’s not until you have this final approval that the loan application is binding. The benefit of having obtained pre-approval is that it will significantly speed up the paperwork process. ## Watch out for Home loan Pre-approvals can be called conditional approval, indicative approval or approval in principle but their meaning is the same. Don’t confuse these with a ‘pre-qualification assessment’, which means a quick investigation of what you might expect to be approved for. It can be done over the phone or on the internet and is based only on the information you supply to the lender. Brokers and Lenders usually conduct a credit check to verify this information. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20Ultimate%20Guide%20to%20Home%20Loan%20Pre-Approval&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-ultimate-guide-to-home-loan-pre-approval%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, home loan pre approval, home loan refinance, mortgage broker, pre approval --- ### [What are the latest First Home Owner Grant Schemes?](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/) **Published:** November 15, 2013 **Author:** Brad Kirwan **Content:** [](https://www.oceanhomeloans.com.au/wp-content/uploads/2013/09/bigstock-Australian-Dollar-Notes-House-45277063-alterted-web-small.jpg)Here is the latest information for the **First Home Owner Grant** (FHOG) by respective states. ## NSW First Home Owner Grant The NSW state government offers a $15,000 grant for first-home owners who purchase or build a new property valued at up to $650,000. The FHOG was available until December 31, 2013, reducing to $10,000 from January 1, 2014, but the 2013 State Budget extended the availability of the $15,000 until January 2016. ## Victoria First Home Owner Grant The Victorian government offers a $7,000 home loan FHOG for both new and existing homes until from June 30. The FHOG is available if the price of the property or construction of the home does not exceed $750,000. From July 1 a new $10,000 FHOG for newly constructed homes under $750,000 begins. ## Queensland First Home Owner Grant The Queensland government offers a $15,000 great start FHOG for first-home buyers buying or building a new home valued under $750,000. ## Western Australia First Home Owner Grant The WA government offers the $7,000 FHOG for both existing homes and new homes. A cap limits the total value of properties (i.e. total value of home and land) to $750,000 or less, or if the home is located north of the 26th parallel to $1,000,000 or less. ## South Australia First Home Owner Grant The South Australian government offers a FHOG of $15,000 for new homes. It also offers a maximum Housing Construction Grant (HCG) of $8,500 to all home buyers (First Home Buyers and non-First Home Buyers) who are purchasing or building a new home with a market value of under $400 000. Above $400,000 to a maximum of $445,000 the grant decreases in increments of $5,000. For first home buyers buying an existing home there is a FHOG of $5,000. The Housing Construction Grant expired on June 30 2013. The $5,000 FHOG grant for existing homes expires on June 30 2014. ## ACT First Home Owner Grant The ACT government offers a $12,500 FHOG to first home buyers if they buy or build a new home or buy one that has been substantially renovated. ## Tasmania First Home Owner Grant The Tasmanian government currently offers a one-off FHOG of up to $7,000. The grant is not means tested and there is no cap on the value an eligible home. There is also a First Home Builder Boost (FHBB), a payment, in addition to the FHOG, of up to $8,000. It is available for eligible applicants, purchasing a newly built home or who are owner-builders between 1 January 2013 and 30 June 2014 and who meet the required time frames for commencement and completion of the house. Both these grants will end on June 30, 2014. From July 1 2014, Tasmanian first-home buyers who build or buy a new home (including off-the-plan) will be entitled to a $7,000 FHOG. ## NT First Home Owner Grant The FHOG scheme provides eligible first home owners with a grant in relation to the purchase or construction of a home. The FHOG is not means tested however, from 1 January 2010 eligibility ceases to apply if the consideration for, or the value of the home is more than the transaction eligibility threshold (see table below). This includes the unencumbered value of the land on which a home is to be built. The amount of the transaction eligibility threshold is determined based on the commencement date of the eligible transaction. The commencement date of an eligible transaction is: - for a contract to purchase or construct a home, the date when the contract is made; or - for an owner builder, the date the laying of the foundations commenced. Commencement date of eligible transactionTransaction eligibility thresholdOn or after 4 December 2012$600 000From 1 January 2010 – 3 December 2012$750 000Prior to 1 January 2010No threshold appliedThe amount of the FHOG increased on 4 December 2012 in relation to eligible transactions that commenced on or after that date. From that date, the amount of the FHOG also varies depending on the type of transaction and location of the property. If the commencement date of the eligible transaction is on or after 4 December 2012, the amount of the FHOG is the lesser of the consideration actually paid for the eligible transaction, or: a) $12 000 if the home is an established home in the urban area; b) otherwise – $25 000 If the commencement date of the eligible transaction is before 4 December 2012, the amount of the grant is the lesser of the following: a) the amount of consideration actually paid for the eligible transaction; b) $7000 An established home is one that has been previously sold or occupied, and is lawfully fit for occupation. An urban area means all land located wholly within the boundaries of: - the Darwin, Palmerston or Litchfield municipalities; - Wagait Shire; - the Darwin Waterfront Precinct; - the “prescribed area” for the *Darwin Rates Act*. - any other area prescribed by regulation. So no matter which state you are applying for your first home owner grant we can assist you with the application and of course arrange for your finance as well. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20What%20are%20the%20latest%20First%20Home%20Owner%20Grant%20Schemes%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhat-are-the-latest-first-home-owner-grant-schemes%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/#print?share=print) - **Categories:** Mortgage **Tags:** construction loan, first home owner grant, home loan --- ### [Have you Selected your Investment Property Dream Team](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/) **Published:** March 5, 2014 **Author:** Brad Kirwan **Content:** There are many things that can lead to **investment property** success, but the most successful property investors know the importance of building a team of reliable industry professionals around them, and developing this team over time. When you think of all of the individuals and professionals you’ll enlist in your property investing career – from finding properties, to financing them, managing them, and eventually selling them – the number of collaborators becomes fairly large. For this reason it is key that you develop relationships to ensure they are mutually beneficial, and that you get the most out of the relationship as possible. Though some investors believe that having paid for some of these services, that should be enough, this in my opinion is a short-sighted view of benefits that can be achieved by building industry relationships. Here are some of the key dream team members you’ll need to select, if your aim is to become a successful property investor: ## Mortgage broker (c) The captain of the team, if you can’t secure the finance, then you can’t secure the property. By utilising the skills of an experienced mortgage broker to help hunt down the best finance options possible, over time, will save you money and potentially increase your borrowing capacity. Every lender treats the assessment of your investment loan differently, from the percentage of the rent allowed, to either accepting negative gearing or even allowing you to borrow more if choosing a fixed interest rate. A strong and continuing relationship with your broker of choice is key to your success as a property investor. ## Buyer’s agent Many investors buy their property via a buyer’s agent, a professional agent who is highly trained in the delicate art of negotiation. They offer a full search service that has the agent sift through the market, shortlisting any properties that meet your criteria. The shortlisted properties are then evaluated and negotiated via a private treaty or auction bid. Use their experience to your advantage and have them obtain the lowest possible price. ## Direct property investment specialists Different from buyer’s agents, direct property investment specialists deal in land and construction investment properties only, based on your investment goals they offer many services, from doing the due diligence for you, sourcing the land and builder, recommending a local property manager, to arranging for your depreciation schedule once the property has been built. They deal in properties nation wide, so can be of great benefit if you want to broaden the footprint of your property portfolio. ## Managing agents An important relationship to build over time. Even if your strategy is to invest in completely different suburbs or cities; having a great relationship with the managing agent will ensure that any dramas are responded to, and quickly. You can also potentially negotiate [multi-property management](https://www.oceanhomeloans.com.au/8-questions-you-must-ask-your-investment-property-manager/ "8 Questions you must ask your Investment Property Manager") deals (even if the suburbs are outside of the agency’s traditional territory), if the relationship is sound. ## Solicitor/Conveyancer A good conveyancer is vital for the successful investor, someone who is prompt, timely, and explains contractual clauses in the appropriate level of detail is key. Don’t go for the cheap conveyancing ‘chop shops’, if any problems arise, having the services of a reputable law firm is essential. ## Accountant Find one that is experienced and relies on clients who are property investors. Finding an accountant who understands the constantly changing landscape of taxation law, from an investor perspective, will not only save you time and money; in the form of additional claims you didn’t think could be made, can mean the difference between failure and success. Overall; like the rest of your dream team; you’ll need to find an accountant who can grow with you over time. ## Financial Planner/Advisor Making your goals and ambitions clear in the beginning is the most important thing to do in this relationship, most important is their ability to guide you about risk, you are building wealth through property, by using your income and your ability to borrow, these need to be protected, your advisor will be able to set the appropriate levels of protection and ensure that they remain appropriate as your portfolio grows. ## Supporting your investment property dream team: So you’ve identified the roles you need to find for your investment property dream team, and you’ve gone out and recruited top rated professionals based on the skill sets needed. But the relationship shouldn’t end there. In reward for good service and maintaining a working relationship that is efficient, mutually rewarding, and one where you can call on an ‘urgent favour’ in a time of need (and have the confidence that your request will be actioned quickly), you need to nurture your team and these relationships. Here are some key ways to support your dream team members: **Referrals:** The most valuable way you can reward great service and strengthen the relationship is to pay it forward. Recommending a dream team member to a friend or colleague based on excellent service will certainly be appreciated and valued. **Linked In Recommendations:** Connecting with your dream team on professional networks is also a great way to hear updates from them, even when you aren’t directly speaking. Writing a small recommendation for their profile, based on good service, is a great way to give back. **Communicating your desire to grow with them:** Where appropriate, and with your investment property dream team members where an opportunity exists to use their services again and again; let them know this, communicating that you are a professional investor and are looking for partners to ‘grow over time’ with, will strengthen the relationships further. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Have%20you%20Selected%20your%20Investment%20Property%20Dream%20Team&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhave-you-selected-your-investment-property-dream-team%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/have-you-selected-your-investment-property-dream-team/#print?share=print) - **Categories:** Property **Tags:** borrowing capacity, construction, construction loan, investment property, investors, mortgage, rental property --- ### [Another record low as interest rates fall to 1.50%](https://www.oceanhomeloans.com.au/another-record-low-as-interest-rates-fall-to-1-50/) **Published:** August 2, 2016 **Author:** Brad Kirwan **Content:** In the lead-up to the Rio Olympics, a new Australian record has already been shattered, with the RBA once again cutting official **interest rates** from the historic low of 1.75% to an all-time low of just 1.50%. This is on the back of the fact that the Australian property market remains strong. Knight Frank’s Australian Residential Review July 2016 indicates that, in the past 12 months, some regional areas have actually overtaken and eclipsed capital cities, with up to 17.8% growth over the past 12 months. ## Property prices still increasing on the back of low Interest Rates If you live in a city, there’s no need to panic according to Core Logic data, the Home Value Index rose by 0.8% last month, with the already strong city home prices rising 6.1% overall since one year ago. So as we near spring, the traditional time for a reinvigorated interest in the property market, owners can rest assured their home will continue to be a safe investment. The low interest rates are also welcome news for those looking to buy and will ensure the housing market remains buoyant for some time yet. Elsewhere, there are other positive signs for the future, such as full-time jobs rising by 34,500 in June. Inflation sits at just 1%, the lowest it has been for 17 years. Meanwhile, Australian tourism has proved to be especially lucrative – Chinese and Hong Kong tourists now outnumber all other visitors to Australia, spending a record $8.9 billion up to March this year, a 40% increase on the previous year. Needless to say, if you would like any advice or want to know which lenders have the lowest interest rates, don’t hesitate to call your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) for advice. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/another-record-low-as-interest-rates-fall-to-1-50/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/another-record-low-as-interest-rates-fall-to-1-50/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/another-record-low-as-interest-rates-fall-to-1-50/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/another-record-low-as-interest-rates-fall-to-1-50/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/another-record-low-as-interest-rates-fall-to-1-50/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/another-record-low-as-interest-rates-fall-to-1-50/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Another%20record%20low%20as%20interest%20rates%20fall%20to%201.50%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fanother-record-low-as-interest-rates-fall-to-1-50%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/another-record-low-as-interest-rates-fall-to-1-50/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, interest rates, mortgage broker, mortgage repayments --- ### [Product Focus - Refinancing](https://www.oceanhomeloans.com.au/product-focus-refinancing/) **Published:** March 26, 2014 **Author:** Brad Kirwan **Content:** Have you ever considered a refinance of your home loan? **Refinancing** your loan is literally paying off your existing home loan and replacing it with another. If it reduces your mortgage payment, shortens the term of your loan or helps you build equity more quickly, it can be a good idea. However, tread carefully and understand all the implications before you start the refinancing process. ## So, what are the benefits of refinancing? There are a number of reasons you may want to do this: - You want to access equity in your current home - You’re paying an unreasonably high interest rate - You want to switch banks - You’re frustrated by inadequate service - You’re paying outrageous fees - You want to access another product that your current bank offers - You’re paying for features you don’t use - You want to consolidate debts - There has been a major change in your finances Making a home loan refinance work for you can open up opportunities to invest, save money or pay your mortgage off sooner. ## What are the pitfalls? Chasing a lower interest rate should not be the reason for refinancing, you need to keep the entire life of the mortgage, not just the first few years in mind. What may seem like a good idea now may not benefit you in the long run. A refinance is actually taking on an entirely new mortgage. And so the paperwork, appraisal, application and lawyer fees all still apply. Before you go ahead, make sure you fully understand the costs that are involved in refinancing your mortgage. You should also work out how long it will take you to get back out in front. If you plan to move at some stage, or if you only have a few more years on your current mortgage, it may be worth holding on. If you’re consolidating debt, there may be other options that will pay off in the long-term, your broker will be able to tell you what’s possible. You may be interested in buying an investment property, provide education for your children or you may want to renovate your current home. Refinancing may allow you to access equity in your home – but make sure you do your homework. ## Finally Did you know what you can also do a ‘partial refinance’? And don’t discount your current lender, they are keen to keep you as a customer, and so may be able to offer you a better outcome. Ultimately, it will be best to consult an expert – your mortgage broker will be able to tell you if refinancing is right for your situation, or offer you other options that may be preferable. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-refinancing/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-refinancing/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-refinancing/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-refinancing/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-refinancing/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-refinancing/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20Focus%20-%20Refinancing&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-refinancing%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-refinancing/#print?share=print) - **Categories:** Refinance **Tags:** home loan refinance, interest rates, investment property, mortgage repayments, refinancing --- ### [Self-Employed - a Low Doc Home Loan could be the answer](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/) **Published:** April 4, 2014 **Author:** Brad Kirwan **Content:** For many Australians, self employment can allow flexibility and more freedom. However, a drawback for some self-employed individuals is the difficulty in obtaining a home loan, this is where a low doc home loan may be the answer. With many lenders tightening their credit policies, borrowing can become tricky, especially for the self-employed. For the self-employed, meeting the standard home loan lending criteria can be difficult, the process can take longer and larger deposits are required due to the increased risk of cash-flow fluctuation. ## Self Employed Low Doc home loan option The **low doc home loan** option is a more flexible financing solution for the self-employed who have income and assets, but may not have the usual paperwork and standard income verification documents necessary to apply for a loan. They generally do not require traditional proof of income. Lender dependant, borrowers will normally need to provide confirmation of their self employment status – such as a registered ABN held for over two years. Up-to-date tax returns and financial statements are generally needed to confirm and verify income. Lenders may even require business activity statements (BAS), trading statements or a letter from your accountant. However, there are often limits on the borrowing total for a low doc home loan, with lenders only allowing you to borrow up to 80 per cent of the total purchase price before the additional requirement of lender’s mortgage insurance. Traditionally, the interest rate offered is higher than for the standard variable rate, but recently this has been changing to bring these to the same level. Also, you can often transfer to a better rate once you are able to demonstrate your income. Not every lender will accept applications for low doc home loans and some will require more documentation, but this shouldn’t deter self-employed borrowers from seeking home loan approval. To help improve your chances of low doc loan approval, you may want to consider talking to a mortgage broker about your options. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Self-Employed%20-%20a%20Low%20Doc%20Home%20Loan%20could%20be%20the%20answer&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fself-employed-a-low-doc-home-loan-could-be-the-answer%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/#print?share=print) - **Categories:** Loans **Tags:** home loan, interest rates, low doc, low doc home loan, self-employed --- ### [Product Focus - Basic Variable Home Loans](https://www.oceanhomeloans.com.au/product-focus-basic-variable-home-loans/) **Published:** November 17, 2014 **Author:** Brad Kirwan **Content:** Basic variable home loans are stripped down versions of standard variable home loans. They offer certain advantages over standard loans, mainly a lower rate of interest and hence lower monthly payments, an important consideration for many borrowers. Typically, basic variable home loans offer significant savings over the life of the loan, often an interest rate which can be a half per cent lower than standard variable loans. Consequently they remain popular with first home buyers and budget-conscious borrowers. In exchange for the lower interest rate they tend to offer less flexibility and fewer options than other types of home loans. They usually lack portability, meaning you cannot take them with you if you sell your house and buy another one. In some cases, borrowers must pay fees to access additional features standard on other types of loans. Some lenders do not allow extra repayments or redraw facilities on their basic loan product. ## Basic variable home loans, the pros: - Lower interest rates than standard variable loans – typically lower by 0.5% - Lower monthly repayments - If interest rates drop, repayments drop ## Basic variable home loans, the cons: - Lack the flexibility of standard variable loans - Have fewer features - If interest rates rise, repayments rise - Many basic variable loans do not offer offset accounts or a split loan facility - Watch out for monthly account fees and charges Again, it is crucial to shop around. Some lenders do offer more features than others, including redraw facilities, direct salary credits, portability and repayment options. As the features offered can vary considerably between lenders this is an area where we can help you find the best **basic variable home loans** product that meets your exact needs. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-basic-variable-home-loans/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-basic-variable-home-loans/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-basic-variable-home-loans/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-basic-variable-home-loans/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-basic-variable-home-loans/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-basic-variable-home-loans/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20Focus%20-%20Basic%20Variable%20Home%20Loans&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-basic-variable-home-loans%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-basic-variable-home-loans/#print?share=print) - **Categories:** Mortgage **Tags:** basic variable home loans, home loan, mortgage repayments, variable interest rates --- ### [A Simple Home Loan Mortgage Reduction Technique](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/) **Published:** April 2, 2014 **Author:** Brad Kirwan **Content:** With a variety of **mortgage reduction** techniques available, simple, low-risk fortnightly repayments could prove to be a very effective way to help you reach financial freedom sooner Whilst line of credit mortgages can be very effective, it is often only the well-disciplined who will reap the rewards. A simple solution to reach the goal of financial freedom is to make your repayments fortnightly, which most lenders will allow. With fortnightly payments, essentially the concept is very simple. You make a payment every two weeks, there are 26 fortnight’s in a year, therefore annually you make 13 payments rather than the 12 you would make with monthly repayments. ## The benefits of mortgage reduction Fortnightly payments seem remarkably simple, yet could make a profound difference in the overall repayments during the loan term. This method of repayment could help you wipe up to four years off your 25-year loan term, and may help you save thousands of dollars. If you can factor the extra repayment into your budget, you’ll hardly feel the pinch. Unlike other home loan reduction techniques, which involve actively managing your mortgage on a monthly – even daily – basis, the fortnightly payment plan can be set up as a direct debit, so you can simply ‘set and forget’. Whilst other home loan options, such as line of credit mortgages may be effective in mortgage reduction, unless you are a disciplined spender, these may actually be more risky. If you start using your personal savings to buy essentials, the line of credit mortgage loses effectiveness as a method of reducing debt. It’s important to check your chosen lender credits you with 26 payments per year, as opposed to 24 or twice-per-month payments, which are effectively the same as monthly payments. Some lenders also only offer monthly repayments on interest-only loans during the interest-only period, so be sure to check with your lender that your loan facility allows you to make fortnightly repayments without any extra fees or charges. If you are really keen to reduce your mortgage amount, your lender may allow you to set up payments over the minimum repayment, whilst keeping the amount manageable. Be sure to ask what your options are. By using a simple mortgage reduction technique such as fortnightly repayments, not only will you better absorb the impact of interest rate movements, the extra repayments will help reduce the remaining principal balance. Overall, it will reduce the interest you pay and the term of your loan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20A%20Simple%20Home%20Loan%20Mortgage%20Reduction%20Technique&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fa-simple-home-loan-mortgage-reduction-technique%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/a-simple-home-loan-mortgage-reduction-technique/#print?share=print) - **Categories:** Mortgage **Tags:** budget, home loan, interest rates, mortgage reduction, mortgage repayments, variable interest rates --- ### [No deposit home loan? Three ways to invest in property now](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/) **Published:** May 30, 2014 **Author:** Brad Kirwan **Content:** You may find it difficult to get your property portfolio off the ground if you have trouble saving and you are in need of a **no deposit home loan**. But don’t despair; if you’re not able to generate your deposit through cash savings there are still ways to speed up the process of getting into your next property. A lack of cash doesn’t have to keep you out of the property market. There are various options that can enable you to bypass the need to save up tens of thousands of dollars, giving experienced investors and first-time buyers the opportunity to act now by securing a no deposit home loan. ## Get a guarantor A guarantor loan enables an existing Australian homeowner, such as your parents, to provide a limited guarantee for your mortgage. The guarantor uses equity in their own property as security for the borrower who has no deposit. The primary security for the loan is still the borrower’s new property. Lenders offering these loans also put a mortgage over the guarantor’s property, which supports the guarantee. These loans are generally used by people who can afford the loan repayments but have an insufficient deposit. It’s important for guarantors to be aware of significant responsibility and obligations they take on, for the borrower to service their loan. If repayments fall behind, the guarantor’s property could be at risk, so it’s essential all parties are aware of and comfortable with the loan requirements before entering into this kind of arrangement. ## Use existing equity for a no deposit home loan If you’re a homeowner or investor, you could have a deposit under your nose. You could already be sitting on a substantial amount of equity that could negate the need to save a deposit for your next purchase. This is particularly powerful in markets where property prices have grown in recent years. Buyers should remember that you won’t usually be able to borrow the full amount of equity that has been created. Boosting the value of your property can be as simple as making some key aesthetic improvements or renovations, and having a number of lenders appraise the property’s value — some may value it more highly than others. ## Superannuation Some people who consider themselves cash poor may have thousands of dollars stashed away in superannuation – and under the right circumstances this can be unlocked for property investment. Depending on your situation you might be in a position to establish a self-managed super fund (SMSF), which could open up the opportunity to invest into property without having to save for a deposit. If you are considering an SMSF property investment, it is important to seek independent legal and financial advice based on your circumstances. If you set up an SMSF then you can generally borrow up to 80 per cent of the property value and your super fund covers the rest, essentially a no deposit home loan. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20deposit%20home%20loan%3F%20Three%20ways%20to%20invest%20in%20property%20now&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-deposit-home-loan-three-ways-to-invest-in-property-now%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, home loan, investment property, mortgage, no deposit home loan, property investment, property investors, self managed super fund --- ### [Why choose an interest only investment mortgage](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/) **Published:** April 28, 2014 **Author:** Brad Kirwan **Content:** An **interest only investment mortgage** could be the ideal solution for investors looking to maximise their cash flow while boosting the tax efficiency of their investment property. Paying nothing but interest on a mortgage may sound foolish, but it is the preferred loan product for property investors. The property market is currently offering strong returns across the country so it is well worth taking a closer look at your options if you are now considering moving into property investment. Rising rental yields are making property a smart investment choice with tight rental markets seeing rental prices increasing. This combination of long-term capital growth and regular rental income is what makes property such an ideal investment decision today. By choosing an interest only investment mortgage, potential investors can take advantage of these market conditions. ## What are the benefits of an interest only investment mortgage? The most obvious benefit of an interest only loan is the reduction it gives the investor in monthly loan repayments, by only paying interest you are reducing servicing costs by 10 – 15 per cent. There is also the potential to use all available cash to reduce the debt on your own home, paying off your “bad” debt before reducing your good “debt” ## Who is it best suited to? Interest only loans are suitable for both new and experienced investors. If you own your own home you could be able to release the equity that you have built up to secure an investment loan. On the other hand, for new or younger investors, interest only loans represent an opportunity to minimise the monthly repayments, assisting you in getting into the property market with a lower impact on your cash flow, because you only need to pay the interest on the mortgage and are not required to make principal reductions as well, therefore having less impact on your lifestyle, but with the potential over time for your investment to increase in value. ## But don’t forget If the property market falls, paying interest only could leave you without any profit. If you understand the property market you intend to buy in, you can however, help maximise the benefits that an interest only loan can offer. Be sure to discuss your plans with your accountant before committing to an interest only investment mortgage, to make sure that this is the right choice for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Why%20choose%20an%20interest%20only%20investment%20mortgage&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhy-choose-an-interest-only-investment-mortgage%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/#print?share=print) - **Categories:** Investing **Tags:** interest only investment mortgage, interest rates, investment property, investors, mortgage repayments, rental property --- ### [First Time Home Buyers - Should you Build New or Buy Established?](https://www.oceanhomeloans.com.au/first-time-home-buyers-should-you-build-new-or-buy-established/) **Published:** January 17, 2014 **Author:** Brad Kirwan **Content:** As **first time home buyers** there is always that nagging question, should you build new or purchase an established property. Each option has its good points and bad points, as first time buyers you’ll want to keep these front of mind as you make one of the most important financial decisions of your life. ## Pros and Cons of New Homes for First Time Home Buyers There are a number of benefits associated with buying a brand new home for first time buyers, such as the [First Home Owner Grant Scheme](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/ "What are the latest First Home Owner Grant Schemes?"). Purchasing a new home gives **first time home buyers** a blank canvas to work with, allowing you to select a decor of your choice. After the home has been constructed, it’s ready for you to move straight in. You won’t have to wait for settlement of a purchase or for the existing owners to move out as you would with an established home. New homes are can be furnished with premium appliances, brand new materials and come equipped with Home Warranty Insurance, often referred to as Builders Warranty Insurance, to ensure that everything is in working order. New homes are likely to be more energy-efficient as a result of being constructed with the latest materials, saving you money over time. The potential disadvantages of new homes for first time buyers include the fact that they can be more expensive than older homes, which you will pay for in higher monthly mortgage repayments. Many newly constructed homes are built on smaller lot sizes than established homes, due to the increasing cost of land development, which can lead to smaller room sizes and less space to work with for outdoor areas such as gardens, swimming pools and alfresco dining areas. If you see yourself working in a rambling garden, an established home may be a better choice. ## Pros and Cons of Established Homes for First Time Home Buyers Established homes are predominately situated within suburbs or communities that already exist, with all of the necessary infrastructure in place, such as public transport, roads, motorways, shops, schools and sports grounds. This can lead to a greater sense of community. A particular benefit of purchasing a period home for **first time home buyers**, is their character, bedrooms can be larger, they have high ceilings and picture windows. Though, they are unlikely to have fitted wardrobes and the garage would more likely be smaller than that of a new home. When purchasing an established home **first time home buyers** have more negotiating power over the purchase price, resulting in lower mortgage repayments. Gardens will already be established with mature trees and plants. However, older properties do have their risks as well. It’s important to pay for a [pre-purchase property inspection](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/ "Why you Should Pay for a Pre-Purchase Property Inspection?"), to ensure that all major items in the property are in working order, including the plumbing, roofing, wiring, heating and or air conditioning. Maintenance and repairs will be needed and your home may not be as energy-efficient without significant renovation. The decision to buy or to build is not a simple or easy one, each property type comes with its own set of benefits. Ultimately, it will depend on your budget and your chosen property. Consider your personal financial position and long-term goals, source professional advice on your actual borrowing capacity and ability to make your mortgage repayments from your mortgage broker and then carefully make your decision based on all the known facts. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/first-time-home-buyers-should-you-build-new-or-buy-established/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/first-time-home-buyers-should-you-build-new-or-buy-established/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/first-time-home-buyers-should-you-build-new-or-buy-established/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/first-time-home-buyers-should-you-build-new-or-buy-established/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/first-time-home-buyers-should-you-build-new-or-buy-established/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/first-time-home-buyers-should-you-build-new-or-buy-established/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20First%20Time%20Home%20Buyers%20-%20Should%20you%20Build%20New%20or%20Buy%20Established%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffirst-time-home-buyers-should-you-build-new-or-buy-established%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/first-time-home-buyers-should-you-build-new-or-buy-established/#print?share=print) - **Categories:** Property **Tags:** construction, first home buyers, first home owner grant, first time home buyers, home renovation, mortgage, mortgage repayments, pre approval, repayments --- ### [Product Focus – Line of Credit Loan](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/) **Published:** December 2, 2013 **Author:** Brad Kirwan **Content:** If you have built up some equity in your home or investment property, a **line of credit loan** (LOC) may be a great way for you to access that equity. So, what is a line of credit mortgage? It is similar to a normal home loan in that you will need to apply and qualify for the loan in much the same way as any other home loan. The key difference being that the LOC will have a pre-determined credit limit and you can draw down these funds as you need to up to that limit. Most LOC’s are interest only, allowing you to repay the principal as it suits you. ## Line of Credit Loan Example Say your home is currently worth $500,000 and you current mortgage is $100,000. If you were to take out a line of credit loan against your home to purchase an investment property, you may need to borrow an extra $80,000 and for the purposes of this example, you may need an extra $50,000 for renovations, costs of the purchase etc. So we would arrange for a line of credit loan with a pre-approved limit of $230,000 ($100,000 +$80,000 + $50,000). You would immediately be able to draw down all of these funds if needed, but would also be able to keep say the $50,000 to use at a later date for those renovations, without the need to reapply for the loan. ## Line of Credit Loan Repayments It is similar to a huge credit card where the repayments can be made monthly on the outstanding balance of the loan, or, paid out in full. However, unlike a credit card, the interest rates are quite low. You can also team a line of credit loan with a credit card that has an interest free period, as a way of paying off your home loan faster via the offset savings, but this strategy may not suit everyone. You must be quite disciplined, resisting the temptation to overspend. Remember that only additional repayments will really help you to reduce your mortgage at a quicker rate. Like any lending product, a line of credit loan will be of benefit to you only if it suits your requirements. To help you determine if this would be right for you, please give us a call. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Product%20Focus%20%E2%80%93%20Line%20of%20Credit%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fproduct-focus-line-of-credit-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/#print?share=print) - **Categories:** Loans **Tags:** line of credit loan, mortgage, variable interest rates --- ### [Buying a bargain from the bank - mortgagee sales](https://www.oceanhomeloans.com.au/buying-a-bargain-from-the-bank-mortgagee-sales/) **Published:** June 11, 2014 **Author:** Brad Kirwan **Content:** Repossessed properties can be the bargains investors are looking for. Repossessed properties, more commonly known as **mortgagee sales** can present a prime opportunity for people to buy into high-growth markets at a lower price. When a homeowner stops making mortgage payments, the bank or lender has the power to take possession of that property – and they generally want a quick sale to recoup the outstanding monies. The lender will almost always choose to sell at auction in order to keep the process as fair as possible for all parties involved. From the buyer’s perspective, purchasing a repossessed property works in the same way as any other property sale, but there can be some restrictions. ## Some restrictions apply for mortgagee sales In some cases the bank may remove certain rights buyers have under a standard contract, such as the builder’s guarantee. Buyers may also be required to put down a minimum deposit of 10 per cent, and there may be no negotiation on the terms of the sale, either. Investors who want to buy a property at a mortgagee sale may have to do a little groundwork beforehand. One way to identify these properties is to visit one of the websites listing mortgagee sales across Australia. Alternatively, a search for ‘mortgagee sale’ on a property portal is likely to return listings in this category. Another alternative is to talk to a [buyer’s agent](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/ "What is a Property Buyer’s Agent and what do they do?"). Prospective buyers should, however, be aware that some properties offered at mortgagee sales that have been neglected for some time may require renovations. Another downside of distressed sales is that as more people understand the possibilities presented by this type of investment, competition for these properties has become fiercer. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/buying-a-bargain-from-the-bank-mortgagee-sales/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/buying-a-bargain-from-the-bank-mortgagee-sales/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/buying-a-bargain-from-the-bank-mortgagee-sales/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/buying-a-bargain-from-the-bank-mortgagee-sales/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/buying-a-bargain-from-the-bank-mortgagee-sales/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/buying-a-bargain-from-the-bank-mortgagee-sales/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Buying%20a%20bargain%20from%20the%20bank%20-%20mortgagee%20sales&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fbuying-a-bargain-from-the-bank-mortgagee-sales%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/buying-a-bargain-from-the-bank-mortgagee-sales/#print?share=print) - **Categories:** Property **Tags:** auction, mortgagee sales, repossession --- ### [Self Employed Home Loan - using add backs to incease your borrowing capacity](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/) **Published:** March 10, 2014 **Author:** Brad Kirwan **Content:** When applying for a **self employed home loan** your taxable income isn’t the same as the actual income that can be used to assess your capacity to meet your commitments, including the repayments for any new loans, therefore some lenders add back any expenses incurred that reduced your taxable income. *By adding back expenses you can increase your assessable income and your* [*borrowing capacity*](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow – Calculate your borrowing power!") *!* ## Some examples of add backs for a self employed home loan **Depreciation:** Depreciation is a tax deduction, however it is not a day-to-day cash expense. For this reason some lenders add it back to your taxable income but amount of allowance varies depending on the nature of asset being depreciated. Assets with a high turnover may have a reduced amount of depreciation permitted as an add back by the lender. **Additional superannuation:** If you have made lump sum or regular voluntary super contributions in excess of your minimum statute requirements then these extra amounts can be added back in most cases. **Net Profit Before Tax (NPBT):** If you have profits that you have retained in your company then these can be taken into account as well, but only for the period on which the credit assessment is based. If you don’t own the entire company then lenders will assess your share of those retained profits. **One off expenses:** If you had an extraordinary expense then the lender will often add this back. Before applying for a self employed home loan you will need to get a letter from your accountant confirming this was an extraordinary one-off expense. **Interest & lease expenses:** If you have a business loan or investment loan, then it is likely that you have tax deductions for the interest that you have paid. Lenders will add this back as they will assess all commitments that you have separately in their serviceability calculator. **Rental property expenses:** Depreciation on your properties, management fees, repairs and other rental property deductions such as negative gearing are all added back. Rental income is also deducted from your income as lenders assess this separately to your main income. **Company car:** If you have a car that is used by your business and yourself then it is likely that you have deducted many of the expenses associated with this car for tax. Lenders do not add this back, however they often will add back up to $6,000 in gross income to compensate for this if it is the sole vehicle within the family unit. Where a private vehicle is maintained within the family then no allowance will be considered. **Trust distributions:** If you have your business in a discretionary trust and have chosen to distribute income to some of your family members then in most cases this can be added back. Note that many lenders do not accept this add back, or will only do so if you provide a letter from your accountant to confirm that the beneficiaries are not financially dependent on this income. So assessing which add backs can be applied for a self employed home loan and with which lender can be very complicated, this can result in reducing your borrowing capacity, by using the services of an experienced mortgage broker you will ensure that you have maximised your borrowing capacity. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Self%20Employed%20Home%20Loan%20-%20using%20add%20backs%20to%20incease%20your%20borrowing%20capacity&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fself-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/#print?share=print) - **Categories:** Loans **Tags:** borrowing capacity, borrowing capacity calculator, home loan refinance, home loans, self employed home loan --- ### [When and why would I need a relocation home loan](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/) **Published:** August 18, 2014 **Author:** Brad Kirwan **Content:** A **relocation home loan**, sometimes called a bridging loan is used when you need to buy one property before you have sold your current home. So for example your house is on the market, waiting for a keen buyer to snap it up, but it doesn’t quite happen as fast as you’d like. In the meantime, you’ve been checking out the market and there it is, the home you have dreamed about, at the right price and the ideal place. So now what do you do? The good news is that you don’t have to lose any sleep over this, because a relocation loan could come to your rescue, this isn’t a new idea, but thanks to changes in the market and the effects of banking deregulation, these types of mortgages are a much more attractive option than they used to be. In the past, the banks viewed these mortgages as high risk and, consequently, charged very high interest rates to cover those risks. A more competitive market and the introduction of new products have now made the concept a far more viable proposition. A relocation loan is no different to any other loan with respect to fees and charges. It is just like a normal loan with interest only charges until the property is sold and the principal can be repaid in full. In fact, today there are a number of lenders who will charge the standard variable rate of interest for a relocation loan, so it’s worth checking out all the available options before making a decision. ## A relocation home loan explained The bank will evaluate the value of the new property, add that to the cost of your current home (outstanding mortgage) and then estimate the likely sale price of your current home. When they’ve done their sums, they will establish the principal of your mortgage, known as the “ongoing balance”. The banks vary in the time they will allow a relocation home loan to continue, but it may be around 6 months to buy an established home, or 12 months if you are building a home. When you sell your home, the proceeds will go to pay off the relocation loan and any remainder becomes part of the new home loan. The rate will revert to the one you might have previously negotiated, or continue at the lenders standard variable rate. ## Things that must be taken into account Firstly, remember that you are taking on an added financial responsibility – for a period of time you are paying for two loans rather than one. How long can you realistically afford to continue to service them both if there are delays. Secondly, don’t make the classic mistake of over-estimating the value of your current home. If it doesn’t fetch the sum you were hoping for, it will place more stress on your finances. So, be realistic and plan for your estimated costs before you proceed. Also, make sure you know what extra fees are involved – there will be an application fee for the loan and a cost to value the other property. Plus, there’s a mortgage registration fee and stamp duty – about $4 for every $1000 borrowed. ## Conclusions A bridging loan is certainly a viable way to help you to buy and sell without having to rush the sale of your current home or compromise on the purchase of the next one. And, thanks to an ever competitive home loan market, relocation loans are more affordable than ever before. If you do your sums carefully before you start, set realistic timeframes and ensure that you are fully conversant with all the potential costs, a relocation home loan might be the perfect home buying solution for you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20When%20and%20why%20would%20I%20need%20a%20relocation%20home%20loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhen-and-why-would-i-need-a-relocation-home-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/#print?share=print) - **Categories:** Mortgage **Tags:** bridging loan, home loan, mortgage repayments, relocation home loan, relocation loan --- ### [How to get a 95% home loan for a discharged bankrupt](https://www.oceanhomeloans.com.au/how-to-get-a-95-home-loan-for-a-discharged-bankrupt/) **Published:** February 5, 2015 **Author:** Brad Kirwan **Content:** It is a widely held belief, that a **discharged bankrupt** can only apply for a home loan up to 80% of the value of the property, this is totally incorrect, there are lenders who will lend up to 95% of the value of the property, even if you have only been discharged for as little as one day. You will need to be able to fund the cost of the LMI waiver fee, which at a borrowing level of 95% could be approximately 2% of the funds borrowed, this fee is charged in lieu of Lenders Mortgage Insurance, which is unavailable for borrowers who have been declared bankrupt. So you would be wise to consider saving in the region of between 7% to 9% of the purchase price of the property, considering there may be transfer duty to pay as well. Interest rates are an important consideration, they most certainly are not as low as those for people who do not have credit history problems, but the ability to switch to a lower rate is possible once 20% equity has been established in the property, subject to being discharged greater than two years. ## What type of property can a discharged bankrupt buy? As a discharged bankrupt you can buy an established dwelling to live in or as an investment property, newly completed dwellings or vacant land. You will be unable to build until you have enough equity to refinance to a lender who will approve your loan application for a total loan amount of 80% or less of the completed property’s value. You will need to show solid repayment history for any property that you have rented, so renting via a property manager is a must, they will be able to provide the lender with a copy of your rental ledger to confirm that you have paid your rent on time. The same applies for any credit facilities you may still have, or have obtained post bankruptcy, living by the mantra, “on time, every time” will put you in the best position for a home loan approval. In essence, loans of this type are made available to people who have suffered a life changing event and who were unable to meet their financial commitments at that time, for many, these events were beyond their control. Lenders of this type take the opinion that having been in bankruptcy for three years and having re-established yourself via long-term employment and residential status you are sufficiently credit worthy again. So as a discharged bankrupt there are available options to purchase property again, without having to come up with an enormous deposit, speaking with an experienced [mortgage broker](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/ "What a mortgage broker can do for you") who deals regularly with people who have [credit history problems](https://www.oceanhomeloans.com.au/can-i-get-a-home-loan-with-bad-credit-history/ "Can I get a home loan with bad credit history") would be a wise choice. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-get-a-95-home-loan-for-a-discharged-bankrupt/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-get-a-95-home-loan-for-a-discharged-bankrupt/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-get-a-95-home-loan-for-a-discharged-bankrupt/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-get-a-95-home-loan-for-a-discharged-bankrupt/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-get-a-95-home-loan-for-a-discharged-bankrupt/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-get-a-95-home-loan-for-a-discharged-bankrupt/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20get%20a%2095%25%20home%20loan%20for%20a%20discharged%20bankrupt&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-get-a-95-home-loan-for-a-discharged-bankrupt%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-get-a-95-home-loan-for-a-discharged-bankrupt/#print?share=print) - **Categories:** Loans **Tags:** discharged bankrupt, home loan, home loan refinance, investment property, mortgage broker --- ### [Interest Rates Remain on Hold with no Movement in Sight](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-with-no-movement-in-sight/) **Published:** June 6, 2017 **Author:** Brad Kirwan **Content:** “Stable and unwavering.” Not a campaign slogan, although it could be the current motto of the Reserve Bank of Australia’s monthly meetings to discuss the official cash rate. Once again, the board has chosen to keep **interest rates** on hold with no movement on 1.5%pa since August last year. Although officially winter, the Australian economy hasn’t cooled down. It’s not unusual for housing prices and the share market to drop slightly at this time of the year. However, it’s nothing to be concerned about. ## Low Interest Rates bring a Steady Economy The Australian economy, stresses Industry Super economist and former Treasury forecaster Stephen Anthony, is still growing, but slowly. In fact, Australia has just become the country with the longest recession-free run in the modern world – 103 quarters in succession, slipping past The Netherlands, who held the previous record. In fact, the Wall Street Journal has called Australia the “miracle economy” – the US has had two technical recessions and Japan has had six in the same period. While we are in the winter months, it’s a good idea for mortgage holders or investors to sip on a cup of hot tea and consider their current situation and what opportunities [low interest rates](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/) provide. If you are a homeowner thinking of selling in the spring, now is the exact time to look at any improvements that could add value to your property. If you’re not planning on buying or selling, ask yourself – when was the last time we reviewed our interest rates? If it’s been a while, it’s very possible you will be missing out on opportunities. As usual, we are here to help you with any questions you may have about your current or future mortgage. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-with-no-movement-in-sight/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-with-no-movement-in-sight/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-with-no-movement-in-sight/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-with-no-movement-in-sight/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-with-no-movement-in-sight/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-with-no-movement-in-sight/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Interest%20Rates%20Remain%20on%20Hold%20with%20no%20Movement%20in%20Sight&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Finterest-rates-remain-on-hold-with-no-movement-in-sight%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/interest-rates-remain-on-hold-with-no-movement-in-sight/#print?share=print) - **Categories:** Interest Rates **Tags:** home improvements, interest rates, mortgage broker, mortgage repayments --- ### [How an Offset Account Could Cut Years off your Home Loan](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/) **Published:** May 30, 2017 **Author:** Brad Kirwan **Content:** Looking for ways to pay off your mortgage in record time? Whether you’re a seasoned investor or buying your first home, an **offset account** can help you reduce interest payments, save on tax and pay your mortgage off years ahead of schedule, read on to see how it works and how you can reap the benefits. ## What is it? With an offset loan the borrower takes out a home loan and opens a linked savings or transaction account. The balance in the savings account is then ‘offset’ daily against the home loan. ## How an offset account works With an offset loan, instead of receiving interest on your savings account each month, the account balance is offset against your home loan, reducing the amount of interest you pay over the life of the loan. For example, if you have $20,000 in your account and $400,000 owing on your mortgage, the interest on your home loan is calculated on $380,000 instead of $400,000. While your repayments remain the same, you’re paying less interest, which means you will be paying off more of the principal. If you can maintain a significant savings balance you can potentially pay off your mortgage years earlier than with another type of loan. For home owners, another potential benefit is that the Australian Taxation Office does not always consider this type of account to be an interest-earning vehicle, which means you may not have to pay tax on any interest earned on your savings. Seek advice from an accountant or financial planner on the tax implications of this type of account. ## Getting maximum benefit from your loan Because your mortgage interest is calculated daily, many borrowers have their salary paid into this account, immediately reducing the interest payable on the home loan. You can still access the money in your offset account online or with an ATM card, but because every dollar is saving you interest, it makes sense to keep the account balance as high as possible. Another tactic is to use a credit card to cover monthly expenses so you can maintain the maximum amount in your account. At the end of the month, simply pay off your credit card with the money in your account. The danger is if you’re not a disciplined spender you may end up incurring interest charges and cancelling out the savings benefit. ## What you need to know An offset account is identical to any other savings account with a bank card and online access, so you can withdraw your money at any time, in most cases the offset is tax-free (but do consult your tax accountant) Most accounts are offered with variable rate loans, however some lenders offer these accounts on fixed rate loans, too. The upshot? Many borrowers could benefit from having an offset account, particularly if you plan on refinancing or moving home in the near future. It’s worth talking to your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) to find out more about the best option for your circumstances. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20an%20Offset%20Account%20Could%20Cut%20Years%20off%20your%20Home%20Loan&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-an-offset-account-could-cut-years-off-your-home-loan%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-an-offset-account-could-cut-years-off-your-home-loan/#print?share=print) - **Categories:** Mortgage **Tags:** fixed interest rates, home loan, offset account, variable interest rates --- ### [3 ways to be tax smart and how to save on your investment property](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/) **Published:** June 16, 2015 **Author:** Brad Kirwan **Content:** It’s that time of year again! If you have an **investment property** or not, don’t let your tax return get you down, there are lots of clever ways to save money on your tax bill. ## Find an accountant Accountants can have a better understanding of specific tax laws to make sure you get the best return possible. While you may have to pay for an accountant’s time, you can then claim the fees on next year’s tax bill. ## Keep a car log book If you use your car for work, you may be able to claim thousands in deductions. So keep receipts for expenses like petrol and servicing, and keep a log book for just 12 weeks a year. ## Have you worked at home this year? Even if you’re not self-employed, you may be able to claim a proportion of your [home expenses](https://topreveal.com/how-to-make-smart-home-smarter-than-you) if you’re regularly taking extra work home. Claimable expenses may include internet and utilities, and depreciation of any furniture used. This is general information only. It does not consider your personal situation. Please consult your accountant for professional advice on your personal situation or speak to your taxation adviser to see if any of the above tips would be suitable for you. ## Own an investment property? Here’s what you may be able to claim: Great news – there’s a lot you can claim when it comes to your [investment property](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/), but make sure you check with your accountant first. Some expenses may include: - Property management costs - Council rates - Water charges - Mortgage interest - Repairs and maintenance - Pest control - Cleaning fees - Legal fees - Depreciation (and related costs, e.g. getting a depreciation schedule) - Rental property costs (e.g. running advertisements) - Borrowing expenses (for the first five years) - Strata fees - Gardening costs - Insurance When it comes to tax time and the claims you can make on your investment property, there are no short cuts, engaging the services of an expert accountant or tax adviser is essential, over time they will save you far more than their cost to you. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%203%20ways%20to%20be%20tax%20smart%20and%20how%20to%20save%20on%20your%20investment%20property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/#print?share=print) - **Categories:** Property **Tags:** investment property, investors, mortgage broker, rental property --- ### [6 Tips for Wealth Creation](https://www.oceanhomeloans.com.au/6-tips-for-wealth-creation/) **Published:** August 9, 2016 **Author:** Brad Kirwan **Content:**  Whether you dream of being a millionaire or just wish you had more money, there are actions you can take to set you on the path to **wealth creation**, here are the top tips most commonly recommended by experts. ## Be clear about what you want Create a list of goals, things you want to have and dreams you want to realise. Use words and images to create a vision board of these aspirations and position it somewhere you will see every day. ## Get right back up each time Setbacks happen and it may seem like you are never going to reach your wealth creation goals, but it is important to keep plugging away. When things don’t go as planned, look for another way. ## Put enjoyment first If what you are doing to make money is draining and oppressive, it might create financial wealth but it will never create true wealth. Focus on what gives you purpose and don’t forget that true wealth creation incorporates happy relationships, good health and the freedom to make choices. ## Create systems It’s not enough to run a business, you need systems in place that allow your business to run in your absence. Automating parts of your business is one way to free up your time, allowing you to achieve more in the same amount of time. ## Learn wealth creation from the right people It’s no excuse to say that you are not smart enough. Surround yourself with experts and learn from the right people. Work with coaches and mentors, read widely and listen to audios – the more you absorb, the more you realise that wealth is possible for anybody. ## Develop the right mindset The right mindset can fire up your creativity and inspire you when others doubt your ability. Be solution and results focused and don’t be afraid to take calculated risks and do things differently. A positive attitude will help realise that wealth creation is possible provided you set your mind to it. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-tips-for-wealth-creation/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-tips-for-wealth-creation/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-tips-for-wealth-creation/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-tips-for-wealth-creation/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-tips-for-wealth-creation/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-tips-for-wealth-creation/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20Tips%20for%20Wealth%20Creation&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-tips-for-wealth-creation%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-tips-for-wealth-creation/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, mortgage broker, property investing, wealth creation --- ### [Finding a home loan when you’re self-employed](https://www.oceanhomeloans.com.au/finding-a-home-loan-when-youre-self-employed/) **Published:** August 16, 2016 **Author:** Brad Kirwan **Content:**  There are many perks to working for yourself, but when it comes to applying for a **home loan**, it seems being your own boss sends up a red flag to banks and other lenders. Why? A salaried employee has a regular, steady income and is less likely to experience the cash flow volatility of a small business owner, contractor, entrepreneur, tradesperson or freelancer. Yet by being proactive and accessing specialist advice, self-employed applicants can also enjoy a successful and hassle-free road to securing a mortgage. Try these top tips for starters. ## Seek expert advice Trying to navigate the home loan landscape solo may not produce the outcome you desire. There are many experts who can help self-employed people access a mortgage, and a mortgage broker is a good first port of call. They will be able to provide you with an up-to-date overview of which lenders on their panel are most comfortable lending to the self-employed, and also explain what sorts of loan products are available. They can also provide valuable advice around the sort of documentation you will need to have ready before you submit your application. ## Get your affairs in order Many lenders will lend to self-employed borrowers who provide their full business financials. This generally includes your personal and business tax returns for the past two years. If you have these documents on hand – and they reveal a fairly consistent income – applying for a loan should be relatively straightforward. However, the hectic schedule that comes with running your own business means many self-employed borrowers’ tax returns are not up to date. If you have time on your side, consider working with your accountant to lodge your outstanding returns. If you’re in a hurry, you may wish to explore the option of applying for a low doc loan. ## Consider a low doc home loan Low doc loans are offered by a wide range of lenders and, as the name suggests, require less documentation than traditional loans. Many low doc loans only require 12 months of business activity statements instead of full financials, for example. A downside of some low doc loans is that they may only be available at a lower loan to property value ratio (LVR), which means you may need a larger deposit. ## Do your homework Checking your credit history is a good step for anyone applying for a home loan. If you’re self-employed, it’s definitely worth taking the time to make sure your credit history doesn’t include any defaults or errors – these can hold up your loan application if they are not rectified in advance. Taking the time to work out exactly how much you’d like to borrow is also a good idea. That way, you can hit the ground running when you meet with lenders or your mortgage broker. ## Think outside the square It may be possible to apply for a home loan using a Certificate of Income Declaration – a document that verifies your income and is signed by your accountant. It’s wise to consult a [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) before applying for a loan in this way, as he or she can advise which lenders will accept an income declaration. It should be noted, however, that applying for a loan using such a document may mean that the required LVR (the portion of the property value you can borrow) may be lower, so you may need a larger deposit. While it’s a little more complicated for self-employed borrowers, getting a home loan can be easier than you’d imagined with a mortgage broker in your corner. Speak to your broker to find out how a broker could help you secure a mortgage. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/finding-a-home-loan-when-youre-self-employed/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/finding-a-home-loan-when-youre-self-employed/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/finding-a-home-loan-when-youre-self-employed/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/finding-a-home-loan-when-youre-self-employed/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/finding-a-home-loan-when-youre-self-employed/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/finding-a-home-loan-when-youre-self-employed/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Finding%20a%20home%20loan%20when%20you%E2%80%99re%20self-employed&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffinding-a-home-loan-when-youre-self-employed%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/finding-a-home-loan-when-youre-self-employed/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, low doc mortgage, mortgage broker, self-employed --- ### [Types of Home Loans 101](https://www.oceanhomeloans.com.au/types-of-home-loans-101/) **Published:** August 23, 2016 **Author:** Brad Kirwan **Content:** There are a range of **home loans** available in Australia, so it can be hard to understand their features and whether they are right for you. This guide explains all you need to know. ## Variable loans Variable loans are loans that are subject to interest rate fluctuations. Whenever your bank increases or decreases interest rates, you will end up either paying more or less for your loan, depending on what the bank has decided to do. A typical owner-occupied mortgage is taken out over 25 or 30 years, although you can reduce the overall term by making higher or more frequent payments. Mortgages are either based on principal (the amount you borrowed from the bank) and interest (the amount you pay back for having borrowed that money) loan repayments, or interest-only repayments (generally available for 1-5 years for owner occupied loans and 1-10 years for investment loans) where none of the principal component of the loan is paid down. ## Fixed-rate loans Fixed loans allow you to lock in a specific interest rate over a set period of time, generally between one and five years. This loan is popular among borrowers who want to ensure their repayments don’t rise. The main risk is that if variable rates fall, you are locked in at a higher rate. The cost of breaking a fixed rate loan contract can be substantial, and there can be financial penalties for making additional payments. ## Split-rate loans You can take out a mortgage with one portion of the loan variable, and the other fixed. In many ways, this offers the best of both worlds and you have the flexibility to repay more on the variable loan and reduce risk through the fixed loan. ## Low-doc home loans Mortgage lenders require you to provide evidence of your ability to meet loan repayments, but this can be a problem for non-salaried workers such as the self-employed. Low-doc loans require less proof-of-income paperwork, but the interest rate levied is often higher than the standard variable rate. ## Professional or packaged loans Some lenders offer mortgages that provide ‘lifetime’ discounted interest rates, fee waivers and linked savings accounts and credit cards. These options are generally offered on high loan amounts. ## Non-genuine savings loans Lenders prefer borrowers to show they have the ability to save funds over time to cover their repayments. If a deposit is accrued quickly due to an inheritance or from other sources, lenders may provide less funding and require lenders mortgage insurance. Lenders mortgage insurance is a one-off insurance payment that covers the bank in case you can’t make your repayments. It is usually required for home loans with a loan-to-value ratio (LVR) over 80%. ## Construction loans These loans allow amounts of finance to be drawn down progressively to cover the various stages of a construction project. Repayments (generally only on interest for the first 12 months, then principal and interest thereafter) are only made on the amount of the loan facility that has been drawn down. However, there are line fees on the undrawn amount, or in most cases on the total facility limit. ## Line-of-credit facilities This is a way of tapping into equity in an existing home and drawing down funds as required for different purposes, such as renovations. Similar to a credit card, repayments are only made on the amount drawn down. Line-of-credit loans are often interest-only for a significant period, but can revert to principal and interest repayments down the track. Most lenders charge extra for line of credit accounts, either through a facility fee, undrawn funds fees and/or a higher interest rate. ## Bridging loans Bridging loans are designed as short-term financing options for borrowers who need funding to buy a new residence before selling their existing home. The interest rates on these loans are higher than the standard variable interest rate. ## SMSF loans The rules around borrowing funds within a self-managed superannuation fund are complex. Borrowings with a SMSF must be undertaken through a [limited recourse borrowing arrangement](https://www.ato.gov.au/Super/Self-managed-super-funds/In-detail/SMSF-resources/SMSF-technical/Limited-recourse-borrowing-arrangements---questions-and-answers/), which limits the recourse of the lender to a single asset. With mortgage lenders offering so many different products, getting professional advice is a must. A mortgage broker will support you with recommendations about what’s best for your personal circumstances. For more information on home loans, talk a [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) today. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/types-of-home-loans-101/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/types-of-home-loans-101/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/types-of-home-loans-101/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/types-of-home-loans-101/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/types-of-home-loans-101/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/types-of-home-loans-101/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Types%20of%20Home%20Loans%20101&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftypes-of-home-loans-101%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/types-of-home-loans-101/#print?share=print) - **Categories:** Mortgage **Tags:** construction, first home buyer, home loan, home loans, mortgage broker --- ### [How to win Home Loan approval](https://www.oceanhomeloans.com.au/how-to-win-home-loan-approval/) **Published:** August 30, 2016 **Author:** Brad Kirwan **Content:** Banks are tightening their lending criteria, which means it has become more important than ever to understand how to boost your chances of getting your **home loan** approved. As your mortgage broker it is our job to monitor the changing environment and understand how this impacts our clients, which is why we have compiled these useful strategies to give you the best chance of securing a home loan. ## Check your credit is squeaky clean Your credit file contains information about your repayment history across a full range of accounts, from credit cards and loans to mobile phones and utilities. Always check your credit file in advance of a home loan application to see how you look on paper and to take steps to fix up discrepancies or pay off debts. ## Fill out the application form correctly It may seem obvious but plenty of application forms are incorrectly or inadequately completed, leading to rejection or processing delays. Not declaring all your debts, for example, may lead to home loan rejection because lenders will find out anyway and penalise you for withholding information. It’s important to give exact and honest answers all the way through the application form, including your address history and spending habits. ## Demonstrate a reliable income You need to be able to demonstrate that you can comfortably service the debt and continue to do so in event of an interest rate rise. This means holding off on any career changes because lenders want to see you have a reliable and consistent income via documentation like payslips, group certificates and tax returns. You will also be asked for proof of genuine savings, which often takes the form of bank statements showing regular contributions over a period of several months. ## Hold off on multiple home loan applications Submitting applications for several different lenders at once will show on your credit report and is frowned upon by potential lenders. Do your research and decide on which lender you are going to go with before you submit an application. ## Save a larger deposit The larger your deposit, the more likely you are to be approved. Although the terms and conditions of each home loan are different, most lenders prefer you not to borrow more than 80% of the value of a property (80% LVR). A larger deposit will also help you avoid paying lenders mortgage insurance (LMI). Contact your [mortgage broker](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/) for more details about how your home loan application can be tailored to the criteria of individual lenders. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-win-home-loan-approval/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-win-home-loan-approval/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-win-home-loan-approval/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-win-home-loan-approval/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-win-home-loan-approval/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-win-home-loan-approval/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20win%20Home%20Loan%20approval&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-win-home-loan-approval%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-win-home-loan-approval/#print?share=print) - **Categories:** Mortgage **Tags:** borrowing capacity, first home buyers, home loan, mortgage repayments --- ### [No Movement on Interest Rates this month](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/) **Published:** September 6, 2016 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia (RBA) has met today to decide its September monetary policy decision in what is governor Glen Stevens’ last rate day. Following the decision to cut **interest rates** to a record low-level of 1.5% in August, members have decided to now keep rates on hold, continuing the spate of good news for mortgage holders and investors alike. This came as no surprise, with none of the 25 economists polled by Bloomberg expecting a rate cut, supporting the RBA’s belief that the most recent interest rate cut hasn’t had time to fully work through the system yet. Meanwhile, Australia’s housing market has shown no sign of slowing down, pushed along by record low interest rates and a lower number of listing. Cities such as Brisbane, Canberra and Adelaide saw their clearance rates rise to above average levels. Sydney was again the stand out with its fourth straight weekend of auction clearance rates above 80 per cent last weekend, and is now enjoying its best run of auction results since July last year. ## Market booming on low Interest Rates Domain senior economist Andrew Wilson said the market had “irresistible momentum”. “You have to start coming up with a new word for boom,” he said, “These clearance rates will work through to higher prices. “But the really noticeable thing was the regional cities. Brisbane saw a clearance rate of 54 per cent when it is usually travelling in the 40s, Canberra hit 82 per cent and Adelaide 74 per cent. “The lower interests rates are really flowing through, money is cheap and there is a consistent level of demand.” This combination of cheap money and a hike in demand for housing is good news for [mortgage holders](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/) and investors alike, and is expected to continue throughout the busy Spring period. If you are thinking of buying or selling, you will no doubt be enjoying interest rates at an all-time low. You can also rest assured that your biggest asset – your home – is still a safe and solid investment. If you are considering any changes in the future, now is a great time to find out your options – as always, we are here to help you any way we can. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20Movement%20on%20Interest%20Rates%20this%20month&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-movement-on-interest-rates-this-month%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, mortgage broker, mortgage repayments, property investment --- ### [10 Tips for Paying off your Home Loan sooner](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/) **Published:** September 13, 2016 **Author:** Brad Kirwan **Content:** Wondering how to pay off your mortgage sooner? We look at some things you could do. Australian **home loan** interest rates remain at historic lows, and the opportunities for paying off a mortgage early are better than ever. Used in conjunction with low rates, here are some extra steps that can speed up loan repayments and reduce your loan balance. ## Make higher repayments One of the easiest ways to quickly reduce the balance of your mortgage is to make larger loan repayments. The minimum repayments required on a loan are calculated on the amount owing and the prevailing home loan interest rate. Repaying more than the minimum can cut the overall term of the loan and save you thousands of dollars in interest. A [mortgage repayments calculator](https://www.oceanhomeloans.com.au/loan-repayment-calculator/) will quickly show what savings can be achieved. Some lenders may charge you an early payment cost for paying your loan in advance. This is particularly the case with fixed-interest loans, so it’s always best to check up-front. These costs can be large. ## Make more frequent repayments Home loans are often structured so that you make monthly repayments. But making fortnightly repayments instead can reduce the term of a loan and save interest. By making fortnightly repayments, you are paying the equivalent of half of your monthly repayment every two weeks. This allows you to make the equivalent of one extra monthly repayment per year. Extra repayments will ensure the loan balance is lower at the time of the month the interest is calculated. ## Use an interest offset account Most lenders allow you to package a mortgage with an interest offset account. An offset account allows you to reduce the amount of interest paid on your loan by offsetting the amount in the (offset) account against your loan balance. Wages and other income can be deposited into your offset account. Note that you don’t earn interest on the funds in the offset account, and that offset is usually only available on variable rate loans. ## Seek out lower rates Although obvious, many borrowers take out a mortgage and then stop following the home loan market. With interest rates constantly changing, it pays to monitor the latest rates. If rates go down, contact your lender or broker and ask if they can reduce the rate on your loan. ## Don’t take the rate cut When a lender reduces the interest rate on its home loans, usually in line with a cut in official interest rates, your first thought may be to reduce your loan repayments accordingly. However, by maintaining your loan repayments, you effectively repay more than the minimum loan repayment. If it’s possible to do so, this will help you cut the term of the loan and save on interest. ## Pay both principal and interest While you can make lower repayments by choosing an interest-only loan, doing so means the principal component of the loan will not be repaid while you are only paying interest. ## Pay home loan fees upfront When initially taking out a mortgage, lenders will often roll the establishment costs and charges into the loan. While this may help the short-term budget, it’s worth paying these costs separately to lower the overall balance of the loan from the start. ## Use your home equity As home prices rise, you build more equity in your property. Redrawing funds from a home loan to pay for renovations and other costs can be a much cheaper source of funds than others. ## Set up a split loan A [split loan](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/), sometimes referred to as a combination loan, enables borrowers to divide their mortgage into both variable and fixed components. By doing this, you can not only make extra payments on the variable component, but also lock in a lower fixed rate. Extra payments can often be made on the fixed loan too, up to a limit specified by the lender. ## Get a financial package You can often lock in a discounted loan rate with a financial package and also find special rates on other products and services. Putting those savings into your mortgage is a great way to get the best of both worlds. With just a few easy steps, borrowers can significantly reduce the length of their mortgage and save thousands of dollars in the process. A mortgage broker can assist you in setting everything up. For more information on how you can pay off your home loan sooner, contact your [mortgage broker](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/). ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%2010%20Tips%20for%20Paying%20off%20your%20Home%20Loan%20sooner&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F10-tips-for-paying-off-your-home-loan-sooner%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, interest rates, offset account, split loan --- ### [Five things to consider when interest rates are low](https://www.oceanhomeloans.com.au/five-things-to-consider-when-interest-rates-are-low/) **Published:** September 27, 2016 **Author:** Brad Kirwan **Content:** Favourable **interest rates** are a borrower’s best friend, but should you lock in a low rate or go with a variable rate? Here are five things to consider. ## How low can interest rates go? With rates at historically low levels and the current outlook suggests there may be further cuts in the medium-term future. If you lock in your rate now, you won’t reap the benefits of later decreases. The question is: how low do you think the rate will go before it starts to climb back up? Timing is crucial if you want to lock it down at its lowest point. ## Balancing the budget How are your budgeting skills? If you want to know your precise repayment obligations for the next one, three or five years, then a fixed rate term can give that to you. Be aware, however, that you may not secure the best rate. Consider this route if certainty is important to you. ## Fixed or flexible? Fixing your interest rate denies you some flexibility. Once you fix a rate, some lenders won’t let you make extra repayments to reduce your principal. If you come into extra money, such as a work bonus or an inheritance, you lose the opportunity to make what could be a sizeable dent in your mortgage. ## Selling points A fixed rate may put you at a disadvantage if you’re looking to sell your property in the foreseeable future. Lenders may charge a break fee if you make changes to your loan or pay it off early, which often happens when borrowers sell. ## Fixed vs variable: It’s about 50/50 According to a study conducted by Canstar, a website that compares loans, the advantage of a variable interest rates versus fixed rate is fairly small over time. Canstar compared an average three-year fixed-rate loan with variable rates over two decades. People who fixed their loan did better for 112 months, while those who chose variable were ahead for 123 months. “That’s pretty close to a 50/50 bet,” remarked Mitchell Watson, research manager for Canstar. Seeing interest rates decrease understandably prompts borrowers to think about fixing their mortgage to a low rate. If you’re weighing up the options, consider the benefits and drawbacks of locking in a low rate versus the flexibility of a variable loan according to your personal circumstances. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/five-things-to-consider-when-interest-rates-are-low/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/five-things-to-consider-when-interest-rates-are-low/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/five-things-to-consider-when-interest-rates-are-low/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/five-things-to-consider-when-interest-rates-are-low/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/five-things-to-consider-when-interest-rates-are-low/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/five-things-to-consider-when-interest-rates-are-low/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Five%20things%20to%20consider%20when%20interest%20rates%20are%20low&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffive-things-to-consider-when-interest-rates-are-low%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/five-things-to-consider-when-interest-rates-are-low/#print?share=print) - **Categories:** Interest Rates **Tags:** fixed interest rates, home loan, interest rates, mortgage repayments, variable interest rates --- ### [Another month with no movement in Interest Rates](https://www.oceanhomeloans.com.au/another-month-with-no-movement-in-interest-rates/) **Published:** October 4, 2016 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia (RBA) has met today to decide its October monetary policy decision in what is governor Phillip Lowe’s first-rate day. Following the decision to cut **interest rates** to a record low-level of 1.5% in August, members have again decided to keep rates on hold, affirming the RBA’s message of stability, and predictability, not radical change. The decision on rates came as no surprise, with a survey of 10 economists by *The Wall Street Journal* showing they all expected there to be no change, including Shane Oliver, head of economics at AMP Capital Markets. “Not enough has changed in Australia since the last rate cut in August to justify any change,” he said. Whilst there has been no dramatic change, the Australian economy continues to perform well, with unemployment rates falling, while GDP growth remains above 3% on a year on year basis, meaning the nation is closing in on a world record for growth without a recession. ## Interest Rates Hold is Good News A hold in interest rates continues to be good news for mortgage owners, who are enjoying all time low rates and a housing market that continues to punch out impressive growth numbers. The Canberra market was the big winner in September with house prices rising 2.4 per cent, beating Melbourne at 2.3 per cent and Sydney at 0.8 per cent. Canberra has also posted the same kind of strong year-on-year house price growth as Melbourne at 9 per cent, while the Sydney market racked up an annual rise of 10.2 per cent and enjoyed a rise in auction clearance rates to 84% over the grand final weekend. Elsewhere, monthly dwelling values rose more than 2 per cent in Adelaide, while dwelling values across the five capital cities were up just under 1 per cent for the month, following a 1.1 per cent rise in August. Ultimately, sustained housing growth coupled with all time low interest rates continues the spate of good news for investors and [home owners](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/) alike, affirming that housing is still a safe and solid investment. Now that it is spring, when the real estate market really hots up, you may also be looking to take advantage of favourable economic conditions. As usual, we are here to help with any questions. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/another-month-with-no-movement-in-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/another-month-with-no-movement-in-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/another-month-with-no-movement-in-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/another-month-with-no-movement-in-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/another-month-with-no-movement-in-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/another-month-with-no-movement-in-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Another%20month%20with%20no%20movement%20in%20Interest%20Rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fanother-month-with-no-movement-in-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/another-month-with-no-movement-in-interest-rates/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, home loan, interest rates, mortgage broker, mortgage repayments --- ### [Is it a good idea to manage your own investment property?](https://www.oceanhomeloans.com.au/is-it-a-good-idea-to-manage-your-own-investment-property/) **Published:** October 18, 2016 **Author:** Brad Kirwan **Content:** There are advantages and disadvantages to managing your own **investment property**, let’s look at why you may want to do it yourself and why you might hire a professional. Buying an investment is a major commitment. A key decision for many investors is whether to manage it themselves or to hire a property manager. ## The pros of managing your investment property **Better oversight**. A property manager will never have the same level of personal attachment to your property as you do. As manager, you’re in a position to keep a close eye on your property, and to quickly attend to any issues. If you’re handy, you can do even do some of the maintenance yourself, to save costs. **Selecting the best tenants.** When charged with finding tenants, a property manager may not always be as selective as you would like them to be. By taking this task on, you can hopefully be more confident that you’ve chosen tenants that fit your needs. **Reducing costs**. Managing your own property can save money because there’s a fee associated with an external manager. It varies, but an average charge would be in the vicinity of 7% of the monthly rental rate. On a rental of $500 per week, this would soak up $35 per week or about $152 per month. Management costs can be written off as a tax deduction, but this doesn’t mean you get the full amount back. ## The cons of managing your investment property **Legal knowledge.** Managing your investment property may seem straightforward, but you need to be fully aware of the laws governing landlords and tenants in your state. This includes all rights and responsibilities, relevant notice periods and dispute resolution processes. Doing things the wrong way can have legal consequences. **Direct contact with tenants**. When you appoint a property manager you create a buffer between you and the tenants. You shouldn’t have to communicate directly with your tenants. When you take on the management role, your tenants will have a direct line of communication to you. You’ll have to handle issues such as unpaid rent, repairs or damage. **It takes time**. Managing your own property may sound easy, but there’s a lot involved. It will take up some of your personal time. Consider whether time or money is more valuable to you; the costs of a property manager may be fully tax deductible, as could other expenses associated with marketing, leasing and general maintenance. The decision of whether you should manage your investment property is likely based on your time, expertise and finances. What’s most important is that you get the right support. A [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you/) can help – contact yours today to find out more. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/is-it-a-good-idea-to-manage-your-own-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/is-it-a-good-idea-to-manage-your-own-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/is-it-a-good-idea-to-manage-your-own-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/is-it-a-good-idea-to-manage-your-own-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/is-it-a-good-idea-to-manage-your-own-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/is-it-a-good-idea-to-manage-your-own-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Is%20it%20a%20good%20idea%20to%20manage%20your%20own%20investment%20property%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fis-it-a-good-idea-to-manage-your-own-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/is-it-a-good-idea-to-manage-your-own-investment-property/#print?share=print) - **Categories:** Investing **Tags:** investment property, mortgage broker, property investing, rental property --- ### [Melbourne Cup interest rates decision - on hold at 1.5%](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/) **Published:** November 1, 2016 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia (RBA) has met today to decide upon the November monetary policy, and although The Melbourne Cup and RBA rate movements have been closely linked in recent years the board has decided to keep **interest rates** at a record low level of 1.5%. To many, the decision today involved weighing up continued weakness in inflation against recent strength in east coast property markets and Australian commodity export prices. “September quarter inflation was low on an underlying basis, but probably not low enough to trigger another cut just yet as it is in line with the RBA’s own expectations,” said AMP Capital chief economist Shane Oliver. “Economic growth in Australia looks reasonable, with the worst of the mining investment slump behind us and a rise in commodity prices is starting to boost national income again.” ## RBA can be patient with Interest Rates “As such, the RBA can afford to be patient in waiting for inflation to head back to target and thereby avoid the risk of adding to financial instability with another rate cut for now.” The decision to hold interest rates at the all time low of 1.5% continues to be good news for mortgage holders, with the property market continuing to deliver strong returns across much of the country during the Spring season. In the past week, Sydney achieved a preliminary auction clearance rate of 84.4%, while Melbourne’s was 78.6%, which has kept the national auction clearance rate above 70%. Prices have been similarly impressive; surging in Sydney by 13.4% so far this year, while Melbourne has recorded an 11.8% increase. Prices in Brisbane and Adelaide also increased by 3.6% and 3.3% over the same period, meaning nationally, the index has risen by 9.1% year to date. Ultimately, sustained housing growth coupled with all time low interest rates continues the spate of good news for investors and home owners alike, affirming that housing is still a safe and solid investment. If you are looking to take advantage of favourable economic conditions, remember your [mortgage broker](https://www.oceanhomeloans.com.au/4-reasons-why-you-should-use-a-mortgage-broker-in-2016/) is always available to help with any questions. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Melbourne%20Cup%20interest%20rates%20decision%20-%20on%20hold%20at%201.5%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fmelbourne-cup-interest-rates-decision-on-hold-at-1-5%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/#print?share=print) - **Categories:** Interest Rates **Tags:** first home buyers, home loan, interest rates, mortgage broker --- ### [Final RBA Meeting of the Year Keeps Interest Rates on Hold](https://www.oceanhomeloans.com.au/final-rba-meeting-of-the-year-keeps-interest-rates-on-hold/) **Published:** December 6, 2016 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia (RBA) has met today for the last time in 2016 to decide its final monetary policy decision of the year. Their meeting has seen the board provide mortgage holders an early present by keeping **interest rates** on hold at a record low level of 1.5%. This was no surprise to experts; all 26 economists polled by Bloomberg prior to the decision indicated they felt the cash rate would again remain on hold in the lead up to the holiday season. ## Low Interest Rates Good News The decision to keep interest rates at the all time low of 1.5% until at least February continues to be good news for the red-hot property market, which continues to deliver strong returns across much of the country. According to new figures released by CoreLogic, over the past month Sydney, Hobart, Adelaide and Darwin all logged monthly gains of 0.8% or higher, with Darwin and Adelaide having a particularly strong month returning growth of 3.7% and 2.9% respectively. “The highest annual growth rate is evident in Sydney and Melbourne where dwelling values are now 13.1% and 11.3% higher respectively, reflecting a steeper upwards trajectory in growth over the second half of the year,” said Tim Lawless, Head of Research at CoreLogic. “The Hobart and Canberra markets have also seen some acceleration in growth rate trends with dwelling values up 8.5%, and 8.4% respectively over the past twelve months. “Nationally, house prices have now risen in year-on-year terms for 4.5 years, leaving the gain over the cycle at 42.2%.” Ultimately, sustained housing growth coupled with all time low interest rates continues the spate of good news for investors and home-owners alike as we move towards the new year. As your [mortgage broker](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/) we are here to help with any questions you may have. In the meantime we would like to wish you the very best of the season. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/final-rba-meeting-of-the-year-keeps-interest-rates-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/final-rba-meeting-of-the-year-keeps-interest-rates-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/final-rba-meeting-of-the-year-keeps-interest-rates-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/final-rba-meeting-of-the-year-keeps-interest-rates-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/final-rba-meeting-of-the-year-keeps-interest-rates-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/final-rba-meeting-of-the-year-keeps-interest-rates-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Final%20RBA%20Meeting%20of%20the%20Year%20Keeps%20Interest%20Rates%20on%20Hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ffinal-rba-meeting-of-the-year-keeps-interest-rates-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/final-rba-meeting-of-the-year-keeps-interest-rates-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** borrowing capacity, interest rates, investment property, mortgage broker, mortgage repayments --- ### [6 Home Loan Features You Need to Know](https://www.oceanhomeloans.com.au/6-home-loan-features-you-need-to-know/) **Published:** January 17, 2017 **Author:** Brad Kirwan **Content:** You wouldn’t buy a car without considering features like parking sensors, cruise control and Bluetooth, just as you wouldn’t choose a **home loan** without taking into account its features. The trick is deciding what will add value, and what you can do without. Some features offer potential savings, while most others provide the certainty of added convenience and flexibility. As your mortgage broker, we can help explain the pros and cons of features like the following. ## Extra repayments – at no extra charge The ability to pay extra on top of the minimum repayment could reduce your loan principal and interest, helping you pay off your home loan quicker. Be sure to check that unlimited extra repayments come at no charge – some loans will cap the amount you can repay or will charge you a fee for paying off the loan early. ## Redraw – two benefits in one Redraw gives you the ability to make additional payments towards your loan, with the added bonus that you can access this cash. This enables you to reduce the amount of interest you pay, with the security of knowing the money can be withdrawn if required. Not all redraw facilities are free, some lenders charge a fee and impose limits on the amount you can withdraw. ## Offset account – reduces loan interest charge This is a transaction account linked to your loan that uses your savings to ‘offset’ your home loan balance. You pay interest on your loan balance minus the amount in that account, which means that every dollar you leave in a 100% offset account reduces interest due. Depending on the type of loan you choose, you might want to consider a full (100%) or partial offset. ## Portability – less hassle when moving house Allows you to take the loan with you when you sell your home and purchase a new one, which means you can avoid costs like break fees (if you have a fixed rate loan) and application fees. ## Split facility – greater home loan choice A split features allows you to allocate a portion of your home loan to a [fixed rate and another portion to a variable rate](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/) – you can usually choose what portion to split. ## Repayment holiday – relief when you need it most The conditions vary from lender to lender, but the general idea of a home loan repayment holiday is to provide a break from repayments. This can help you out of a tight spot but keep in mind that interest will keep accruing on your loan while you’re not making repayments. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-home-loan-features-you-need-to-know/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-home-loan-features-you-need-to-know/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-home-loan-features-you-need-to-know/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-home-loan-features-you-need-to-know/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-home-loan-features-you-need-to-know/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-home-loan-features-you-need-to-know/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20Home%20Loan%20Features%20You%20Need%20to%20Know&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-home-loan-features-you-need-to-know%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-home-loan-features-you-need-to-know/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, mortgage broker, mortgage offset loan, split loans --- ### [Which Self-Employed Home Loan to choose?](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/) **Published:** January 24, 2017 **Author:** Brad Kirwan **Content:** You’re self-employed and you need a home loan. Should you take out a low doc loan or would a traditional loan be a better choice? The answer depends on your individual situation. Both options have pros and cons, just as every lender has different lending policies and some are more open to receiving self-employed home loan applications than others. As your mortgage broker, we know who these lenders are and what criteria and documentation you’ll need to achieve a successful application process. ## If you take the low doc home loan path Know that it is unlikely you will be allowed to borrow more than 80% of the value of the property and you will probably pay Lenders Mortgage Insurance (LMI) if you are borrowing over 60%. You may also be charged a slightly higher interest rate to account for the extra risk that some lenders associate with self-employed borrowers who are not able to show evidence of a stable income. The benefit of a low doc **home loan** is that it is quick and simple because it requires significantly less documentation. Every lender’s policies are different, but many require you to supply a Business Activity Statement (BAS), as this will help assess whether you’re able to afford the loan. Other common document requests include previous bank statements and a letter from your accountant. Since the global financial crisis, the low doc loan paperwork requirements have become more robust but it is still possible to find lenders whose only requirement is for you to sign a certificate that you earn sufficient income to comfortably afford the loan repayments. After two or three years on a low doc loan, you may be allowed to convert to a full doc loan with minimal financial verification. ## If you go for a traditional home loan Most lenders will ask you to provide two years lodged tax returns, BAS statements, bank statements, or even a declaration from your accountant. They are looking for signs of regular repayment because they want to see that your business has a history of maintaining a level of income suitable to their minimum servicing requirements. Some lenders assess self-employed applications by using the average of the last two years’ income, while others use a variance strategy or they take the lower of the last two years taxable income. By planning ahead and discussing your specific needs with your [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/), they can give you an idea of how much you might be able to borrow before the formal application process even begins. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Which%20Self-Employed%20Home%20Loan%20to%20choose%3F&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhich-self-employed-home-loan-to-choose%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, low doc mortgage, mortgage broker, self-employed --- ### [Why Location is Crucial when Buying an Investment Property](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/) **Published:** January 31, 2017 **Author:** Brad Kirwan **Content:** The first thing most of us look at when selecting an **investment property** is its location. If the property itself isn’t quite right, you can always renovate, but it’s not as easy to move a house to a better location. That’s why you should consider the location carefully. Here are some of the most important things to look for. ## Love thy neighbour Before you buy, familiarise yourself with the local community. If possible, visit the neighbourhood during both day and night to get a feel for whether it’s a safe place to live. Are there kids playing outside or security bars on the windows? Are there trampolines in the front yards or the remnants of last night’s party? This will help you determine whether the location is suitable for the type of tenants you want. After all, if you’re looking in an area that attracts university students but you would prefer to rent to a quiet couple, then perhaps this location isn’t right for you. ## Future plans The neighbourhood might look suitable now, but things can change. It’s a good idea to investigate any future plans that could affect the value of your investment property. For example, the local council should be able to tell you if a freeway or large-scale construction is planned. Major works could increase or decrease your property’s value depending on where they’re situated. ## Access to infrastructure To increase your potential rental income, try to buy near desirable infrastructure and facilities. For example, families often pay a premium to live in the catchment area of a quality public school, so it’s worth checking the educational zoning. Access to shops, public transport and the beach are also attractive features for both tenants and prospective future buyers. And while it’s handy to be near the airport, if you’re located right under the flight path it might impact the amount of rental income you receive. ## Bargain investment property pockets Finding a bargain pocket in a good suburb could increase your capital growth potential. By looking at demographic data, such as that collected during the [Census](https://www.abs.gov.au/websitedbs/censushome.nsf/home/data), you may be able to spot trends. Perhaps the neighbourhood has recently been gentrified by young professional couples who are increasing the average income of the area, which is likely to increase the value of the property over time. Bargain pockets may also be found in close proximity to high-growth areas that will benefit your investment in the long-term. Searching for an investment property can be a rewarding experience. By considering the location, not just the address, you can increase your chance of maximising your rental and capital growth potential. If you need help with the purchase of your property, contact your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/). ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Why%20Location%20is%20Crucial%20when%20Buying%20an%20Investment%20Property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fwhy-location-is-crucial-when-buying-an-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/#print?share=print) - **Categories:** Investing **Tags:** interest rates, investment property, mortgage broker, rental property --- ### [The RBA rings in 2017 with no changes to Interest Rates](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/) **Published:** February 7, 2017 **Author:** Brad Kirwan **Content:** New year, new you? Well, certainly not new interest rates – the first Reserve Bank meeting for 2017 saw a resounding ‘hold’, with rates remaining at the record low of 1.5%, as predicted by all 14 economists surveyed. But there’s a lot that can change for motivated mortgage holders. Like consolidating debt. Refinancing your mortgage and rolling other debts into those regular payments may be a great option if you’re looking to make your monthly outgoings more manageable. ## Different types of Interest Rates Chasing new years deals on mortgage is a no-brainer as well. The Australian Securities and Investment Commission (ASIC) says in their ‘Moneysmart’ newsletter that there are different types of **interest rates** available via a huge range of lenders – and even the smallest change can make a huge difference to what you pay over the life of your mortgage. Now is a great time to evaluate your options for your current financial situation and bed it down. As always, your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) is here to help you navigate through the many choices you have and push for the deal that best suits your needs. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20The%20RBA%20rings%20in%202017%20with%20no%20changes%20to%20Interest%20Rates&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fthe-rba-rings-in-2017-with-no-changes-to-interest-rates%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/#print?share=print) - **Categories:** Interest Rates **Tags:** debt consolidation, interest rates, mortgage broker, mortgage repayments, variable interest rates --- ### [6 Winning Strategies for a Property Auction](https://www.oceanhomeloans.com.au/6-winning-strategies-for-a-property-auction/) **Published:** February 21, 2017 **Author:** Brad Kirwan **Content:** A **Property auction** can be very competitive and stressful for most bidders. Here are six smart strategies that could improve your chances of winning. ## Don’t show your hand Revealing your maximum bid limit to the agent before the auction could encourage them to push you a little further. For example, during the auction the agent might indicate you’re close to meeting the vendor’s expectations, to try to persuade you to bid above your limit. It’s in their interest because they’re usually earning a commission based on the sale price. ## Ask if the reserve has been met Bids must reach the vendor’s reserve price before the property is officially ‘on the market’ and then sold to the highest bidder. If the property doesn’t meet the reserve it will be ‘passed in’. The reserve price is usually set on the day of the auction, or the day before. The auctioneer often doesn’t know the reserve until just before the auction begins, and they don’t have to reveal it to bidders – but you can still ask. If you discover the reserve, you can wait to bid until it’s reached. This tactic might even persuade the vendor to lower the reserve during the auction if they’re not getting enough bids. If you’re the highest bidder for a passed-in property, you may be invited to negotiate with the selling agent. Be wary of high-pressure sales tactics here, and remember that cooling-off periods don’t apply to contracts signed on auction day. ## Ask questions (but know the property auction rules) You can talk to the auctioneer during the property auction to find out information that may be helpful in winning. For example, [Consumer Affairs Victoria](https://www.consumer.vic.gov.au/housing-and-accommodation/buying-and-selling-property/buying-property/buying-property-at-auction) says you can ask the auctioneer a ‘reasonable’ number of questions, and you can ask them to identify who has made a bid. You can also ask whether the property is ‘on the market’ yet (has it met the reserve price?). Be visible and within earshot of the auctioneer to avoid miscommunication. Make sure you know the rules, as it’s illegal to disrupt an auction. The auction rules are generally made available at least 30 minutes before the auction, and the auctioneer should also announce the rules before bidding starts. ## Bid like a pro Bid with confidence and state the full price to let your rivals know you’re serious. A confident call of ‘$500,500’ (as opposed to a quiet ‘500’) will remind the room of how much is at stake. You can also try ‘knockout’ bids and offer well above the last bid or the auctioneer’s suggested figure, to intimidate less-confident buyers. If bids are being made quickly you might want to try to slow things down by bidding in smaller increments than the auctioneer suggests. Pre-auction tip: Ask the selling agent how many people have requested property reports. This will give you an idea of the number of serious bidders. ## Employ a professional You can enlist a buyer’s agent (also called a buyer’s advocate) to bid for you. They’ll have no emotional attachment to the property and should only bid what they believe it’s worth (within your limit). They should also have plenty of auction experience and know the tricks of the trade. The [Real Estate Buyer’s Agents Association of Australia](https://rebaa.com.au/buyers-agents/rebaa-member-directory/) offers some tips for choosing a buyer’s agent. You could also ask a friend or family member with auction experience to bid for you. But remember that you’re the one who has to pay, even if they win by exceeding your limit. ## Be prepared to cut your losses Accept property reports and legal fees as sunk costs that are part of the auction process. You’re better off spending a few hundred dollars checking a property than bidding hundreds of thousands without doing the pre-auction groundwork. On auction day, if you hit your limit, walk away to avoid temptation. A property auctions can be challenging, especially when there are emotions involved. Sensible, practical strategies can give you the best chance of being the last person standing – or at least stop you from over-committing – on auction day. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/6-winning-strategies-for-a-property-auction/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/6-winning-strategies-for-a-property-auction/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/6-winning-strategies-for-a-property-auction/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/6-winning-strategies-for-a-property-auction/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/6-winning-strategies-for-a-property-auction/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/6-winning-strategies-for-a-property-auction/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%206%20Winning%20Strategies%20for%20a%20Property%20Auction&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F6-winning-strategies-for-a-property-auction%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/6-winning-strategies-for-a-property-auction/#print?share=print) - **Categories:** Property **Tags:** auction, borrowing capacity, home loan, mortgage broker, property auction --- ### [No surprises as interest rates stay at 1.5%](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-1-5/) **Published:** March 7, 2017 **Author:** Brad Kirwan **Content:** The Reserve Bank of Australia (RBA) has met today, and their decision has seen the board keep **interest rates** on hold at a record low-level of 1.5% for the sixth consecutive meeting. This was no surprise to experts; all 24 economists polled by Bloomberg predicted the decision, one they believe is intended to encourage sustainable growth in the economy whilst achieving the inflation target over time. This sentiment is shared by the Reserve Bank governor Philip Lowe, who in February spoke three times about keeping rates on hold to balance the need to boost inflation while maintaining financial stability. ## Low Interest Rates drive Housing gains The decision to keep interest rates on hold comes in light of another strong month of gains across the Australian housing market. Capital city home values climbed 1.4% in February, taking the annual growth rate to 11.7%, the best since the 12 months to June 2010. According to preliminary data released by CoreLogic, a national clearance rate of 77.8% was recorded last week, with Sydney and Melbourne both documenting preliminary clearance rates of over 80%. The median dwelling price in Sydney and Melbourne rose by 2.6% and 1.5% respectively in February, taking the gains over the past 12 months to 18.4% and 13.1% respectively. On top of that, experts are saying that Australia is now in an ‘economical rebound’, moving back to positive territory in the last three months of 2016. In fact, the Australian economy ranked 13th in the world in 2016 when measured in US dollars, according to International Monetary Fund estimates. Regional economist at SGS Economics and Planning Terry Rawnsley says that the relative size and success of Australia’s regional economies is underappreciated. “Being Australians we sometimes downplay how hard we work, how smart we work, how much money we generate for ourselves,” he said. The continued strength in clearance rates and strong prices, coupled with a resurgent economy and low interest rates suggests that there are still plenty of great opportunities out there for those looking to invest. As always, contact your [mortgage broker](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/) with any questions you may have. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-1-5/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-1-5/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-1-5/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-1-5/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-1-5/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-1-5/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20surprises%20as%20interest%20rates%20stay%20at%201.5%25&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-surprises-as-interest-rates-stay-1-5%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-surprises-as-interest-rates-stay-1-5/#print?share=print) - **Categories:** Interest Rates **Tags:** home loan refinance, interest rates, investment property, mortgage broker, property investors --- ### [How to Pay off your Home Loan Sooner](https://www.oceanhomeloans.com.au/how-to-pay-off-your-home-loan-sooner/) **Published:** March 14, 2017 **Author:** Brad Kirwan **Content:** Are you looking for ways to save on your home loan? Following these simple tips will put you on the path to paying off your loan sooner or if your goal is to purchase an investment property, creating equity from which you can draw on. ## Increase your repayment amounts The simplest way to pay off your home loan sooner is to increase the amount you repay. By repaying more than the minimum you can cut the overall term of the loan and save thousands of dollars in interest. The more you pay off earlier on in your mortgage, the more you’ll save over time. Some products may charge you an early payment fee for paying your loan in advance. These costs can be large, so it’s best to always check beforehand. ## Consider how mortgage features can help Think about how using an offset account or a credit card linked to your **home loan** might help you keep your loan balance low. If you’re looking for ways to keep your interest down, it’s worth investigating what other features your mortgage comes with. ## Take advantage if there are variable rate cuts A lower interest rate will reduce your repayments, but if your lender reduces the interest rate, consider repaying more than the minimum loan repayment amount. This can help you save on future interest payments. Don’t pay the interest-only An interest-only loan might mean you’re able to make lower repayments for the first few years, but this means your repayments will be larger when it comes time to pay off the principal. ## Consider re-financing If you’ve had your mortgage for 12 months or more, re-financing might be able to get you a better deal on your home loan. There may be costs associated with re-financing and it’s important to take this into account. ## Consider a split home loan A split loan allows borrowers to divide their mortgage into both variable and fixed components. You can lock in a low fixed rate on part of your loan, if you only want to limit exposure to the variable rate. ## Explore your options Before you sign on the dotted line, make sure you’ve explored all of your options. It’s worth looking into whether you can get a discounted loan rate with a financial package that includes special rates on other products and services. With just a few easy steps, borrowers can significantly reduce the length of their loan and save thousands of dollars in the process. If you’re interested in paying off your home loan sooner, contact your [mortgage broker](https://www.oceanhomeloans.com.au/6-questions-mortgage-brokers-get-asked/). ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/how-to-pay-off-your-home-loan-sooner/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/how-to-pay-off-your-home-loan-sooner/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/how-to-pay-off-your-home-loan-sooner/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/how-to-pay-off-your-home-loan-sooner/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/how-to-pay-off-your-home-loan-sooner/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/how-to-pay-off-your-home-loan-sooner/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20How%20to%20Pay%20off%20your%20Home%20Loan%20Sooner&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fhow-to-pay-off-your-home-loan-sooner%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/how-to-pay-off-your-home-loan-sooner/#print?share=print) - **Categories:** Mortgage **Tags:** home loan, home loan refinance, mortgage broker, mortgage repayments --- ### [7 Steps to Purchasing an Investment Property](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/) **Published:** March 28, 2017 **Author:** Brad Kirwan **Content:** If you’re interested in purchasing an investment property, it can be hard to know where to start. Here are seven tips to help get the ball rolling: ## Make a plan and stick to it The property itself isn’t the end goal, you’re likely looking to make a profit. Once you know your end goal, create a plan for a realistic time-frame. Remember to review this plan regularly as your situation and the property market changes. ## Research the investment property market Do your research to see what types of properties are easily attracting tenants and what properties are staying on the market for longer periods of time. This will help you choose the right property to purchase. ## Pick your location carefully Location is critical to performance. Consider the proximity of the investment property to the CBD, schools and local shops. It’s also a good idea to find out what the public transport options are. ## Know your budget Always check your financials before deciding to purchase a property. Get [pre-approval](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/) and make sure you have all extra costs available, including conveyancing, inspections and any taxes. ## Think about how you purchase the property When setting up the sale contract for your **investment property** purchase, consider whose name to put the house under. Whether it’s in your own name, through your super or a family trust, it’s important to understand how this investment affects any existing assets. ## Think about what tenants are looking for Look for properties that offer that little something extra, like a second bathroom or a lock-up garage – anything that might appeal to potential tenants looking for a home of their own. ## Ask for expert advice Your [mortgage broker](https://www.oceanhomeloans.com.au/how-a-mortgage-broker-can-help-you-set-your-financial-goals/) can put you in touch with accountants, real estate agents, lawyers and valuers – experts that can help guide you in your decision making. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%207%20Steps%20to%20Purchasing%20an%20Investment%20Property&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2F7-steps-to-purchasing-an-investment-property%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/7-steps-to-purchasing-an-investment-property/#print?share=print) - **Categories:** Investing **Tags:** borrowing capacity, investment property, mortgage broker, property investing --- ### [Steady as she goes - RBA keeps interest rates on hold](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/) **Published:** April 4, 2017 **Author:** Brad Kirwan **Content:** The first few months of 2017 has seen the RBA forming a holding pattern on **interest rates** – the cash rate remains at the record low of 1.5%. While economists speculate about when (and what) the next move will be, most expect there will be no change for quite some time, and there is even speculation that the move could be down and not up. ## No Change in Interest Rates for Some Time This is, of course, is good news for mortgage holders. It’s just not interest rates that’s the good news story about the Australian economy, including a strong gain in the employment rate for the past three months as well as a rise in job vacancies and a lift in the economic growth rate (Australia is the only advanced economy in the work that hasn’t seen a recession in the past 25 years). Businesses are faring well too – the Performance of Manufacturing Index has recently seen the strongest rise since 2002, the Construction Index rose in February and company operating profits rose by 20.1% in the December quarter – a record high. Add to that the recent cuts in business tax and there’s optimism all round. Australian Retailers Association executive director Russell Zimmerman is upbeat about the outlook following the passing of tax cuts for businesses with turnover up to $50 million. “We are confident that the reduction in the company tax rate will benefit hundreds of thousands of small and medium-sized businesses, their employees and the broader Australian community,” Mr Zimmerman said. With interest rates still at an all-time low and the property market hot as ever even with the cooler weather, and you may find yourself considering your next move. As usual, your [mortgage broker](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) is always here to help. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steady%20as%20she%20goes%20-%20RBA%20keeps%20interest%20rates%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fsteady-as-she-goes-rba-keeps-interest-rates-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** home loan, interest rates, investment loan, mortgage broker, mortgage repayments --- ### [No movement as interest rates remain on hold](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/) **Published:** May 2, 2017 **Author:** Brad Kirwan **Content:** There was no movement at the station – the monthly meeting of the Reserve Bank of Australia today produced no surprises, as the Board left the official cash rate on hold at a record low 1.5%. In fact, it’s expected that **interest rates** will most likely remain in a holding pattern for the near future. Although rates remain steady, the confidence levels of Australian business are increasing. The Australian Institute of Company Directors has found that 57% of business directors are anticipating growth – the highest level in 6 years. This has been driven by increased optimism about the Australian, Asian and US economies. ## Lower interest rates driving employment Several world bodies agree, with the IMF and the UN’s Economic and Social Commission for Asia and the Pacific (UNESCAP) taking note of the boom in the Australian economy. This comes off the back of a lower rate of unemployment. The housing market is now settling into the cooler months, which is an ideal time for mortgage holders to consider their options. So if you haven’t reviewed your home loan or your interest rates in several years, now is the perfect time. There is nothing to lose (and much to gain) from reviewing the equity in your house and the terms of your loan. You may find yourself presented with a number of options, including reducing your monthly payments, paying your home off sooner or even looking at the possibility of acquiring an investment property. As always consult your [mortgage broker](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/) for advice. ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20No%20movement%20as%20interest%20rates%20remain%20on%20hold&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Fno-movement-as-interest-rates-remain-on-hold%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/#print?share=print) - **Categories:** Interest Rates **Tags:** interest rates, investment property, mortgage broker, mortgage repayments, variable interest rates --- ## Pages ### [Gold Coast Home Loan Mortgage Brokers](https://www.oceanhomeloans.com.au/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** Ocean Home Loans mortgage brokers have assisted customers throughout the Gold Coast region of Queensland, Australia, since 2004. We also have clients all over Australia, so an Ocean Home Loans Mortgage Broker can assist you no matter where you are located. [](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/ "Complete testimonial by Megan T & Aaron C, Bucasia, QLD")> *Brad’s no nonsense approach really appealed to us and he really allayed our first time buyer fears. Would recommend Brad Kirwan to anyone looking to buy a home. Can’t thank him enough for his help.* Megan T & Aaron C, Bucasia, QLD [](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/ "Complete testimonial by Steve & Sarah K, Surfers Paradise, QLD")> *We have used Brad at Ocean Home Loans as our broker on our last few homes. Can’t recommend him highly enough, highly professional and friendly advice.* Steve & Sarah K, Surfers Paradise, QLD [](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/ "Complete testimonial by Valerio B, South Bank, VIC")> *Brad is the best – He has helped me a lot – always extremely responding, precise and caring. To choose him was the best choice ever. Great Guy and Excellent Professional.* Valerio B, South Bank, VIC [](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/ "Complete testimonial by Tim & Anne W, Kallangur, QLD")> *Brad was a tremendous help during a difficult time. Unlike many in his industry he actually listened . He traveled a considerable distance to consult with us and was very patient with us. He cared about our needs and was factual rather than judgemental. The entire process was thorough and yet simple… [Read more](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/ "Complete testimonial by Tim & Anne W, Kallangur, QLD")* Tim & Anne W, Kallangur, QLD [](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/ "Complete testimonial by Derek U, Loganholme, QLD")> *Buying your first home and obtaining the loan can be a daunting prospect but Brad from Ocean Home Loans made the whole process very streamlined and stress free. I found Brad to be very prompt and knowledgeable in assessing my needs. I can highly recommend Ocean Home Loans and will be using them in a… [Read more](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/ "Complete testimonial by Derek U, Loganholme, QLD")* Derek U, Loganholme, QLD [](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/ "Complete testimonial by Katie & Leigh G, Varsity Lakes, QLD")> *Ocean Home Loans have assisted my husband and I over many years in sourcing the best home loan products for our needs. Brad’s extensive experience in the finance and banking industry make him a real asset when finding the best possible solution tailored to your individual needs. He offers honest, re… [Read more](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/ "Complete testimonial by Katie & Leigh G, Varsity Lakes, QLD")* Katie & Leigh G, Varsity Lakes, QLD [](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/ "Complete testimonial by Trent W & Dayle C, Whittlesea, VIC")> *We chose Brad based on his reviews; and we were not disappointed! Brad goes above and beyond to help you & we would highly recommend him to anyone looking for someone trustworthy & reliable!* Trent W & Dayle C, Whittlesea, VIC [](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/ "Complete testimonial by Dave P, Brendale, QLD")> *Can not speak highly enough of this bloke!! Brad did a great job supporting and guiding me through the entire home loan process. Extremely helpful, prompt responses, the odd hiccup (third parties) was addressed and resolved promptly. Highly recommend Brad!!* Dave P, Brendale, QLD [](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/ "Complete testimonial by Wendy & Jeremy M, Bilinga, QLD")> *Brad was very helpful. We were purchasing our first home so we didn’t know too much but he thoroughly explained all our options and kept us informed the whole time. We definitely be using him again.* Wendy & Jeremy M, Bilinga, QLD [](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/ "Complete testimonial by Amirahmad A, Rutherford, NSW")> *We had great time working with Brad to get our loan organised in NSW. Brad was always there and super responsive and supportive. Definitely recommend him. Thanks Brad* Amirahmad A, Rutherford, NSW [](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/ "Complete testimonial by Ricky S, Booie, QLD")> *I simply rang querying off there was a possibility of ever getting a loan again as I was ex bankrupt. Brad asked me a few simple questions and advised me that this would not be a problem. I am now a proud home owner again. If he can help someone like me he can help everyone. Not only did he assist m… [Read more](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/ "Complete testimonial by Ricky S, Booie, QLD")* Ricky S, Booie, QLD [](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/ "Complete testimonial by Devon Z, Moncrieff, ACT")> *Great broker- excellent knowledge in lending policy, very fast, good service and communication, technology savvy to work with clients across different locations. Would recommend to anyone who needs a homeloan.* Devon Z, Moncrieff, ACT [](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/ "Complete testimonial by Donna & Justin S, Cedar Grove, QLD")> *Brad was fantastic right from our initial phone conversation to our new house settlement I would not hesitate in recommending ocean home loans.* Donna & Justin S, Cedar Grove, QLD [](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/ "Complete testimonial by Chris & Anja B, Carrara, QLD")> *Brad is extremely responsive and always available. He breaks things down so they’re easy to understand.* Chris & Anja B, Carrara, QLD [](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/ "Complete testimonial by Sarah & Ron D, Loganholme, QLD")> *After having lost everything when my husband battled cancer coming out the otherside we had no idea what to expect or where to turn, we found ocean home loans on Google and never looked back, Brad has been amazing often going above and beyond with guidance and advice. He helped us navigate the task … [Read more](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/ "Complete testimonial by Sarah & Ron D, Loganholme, QLD")* Sarah & Ron D, Loganholme, QLD [](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/ "Complete testimonial by Mark & Kim, Upper Coomera, QLD")> *Have been dealing with Brad for several years. He has arranged an owner mortgage and a investment mortgage for me. I was extremely happy with the help and assist given during this process. He is a true professional where nothing seems too hard. Highly recommend for your next mortgage or loan advise.* [Read more](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/ "Complete testimonial by Mark & Kim, Upper Coomera, QLD") Mark & Kim, Upper Coomera, QLD [](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/ "Complete testimonial by Shabu T & Rinsy R, Augustine Heights, QLD")> *Thank you so much for all your help over the past couple of months. Everything was smooth and easy. Appreciate your help through this entire process. We are slowly settling in. 🙂* > > *thanks so much again.* > > *Regards* > > *Rinsy and Shabu* Shabu T & Rinsy R, Augustine Heights, QLD [](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/ "Complete testimonial by Matt & Simmone R, Woodberry, NSW")> *I highly recommend Ocean Home Loans, while other lenders said no, Brad and his team said not a problem. Help was provided right through the entire process.* Matt & Simmone R, Woodberry, NSW [](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/ "Complete testimonial by Deborah B, Broadbeach, QLD")> *Brad was an absolute marvel in finding me a competitive home loan, and went above and beyond to get my mortgage approval through in a tight timescale. I would highly recommend Brad for his conscientiousness, professionalism and transparency throughout the whole process.* Deborah B, Broadbeach, QLD [](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/ "Complete testimonial by Peter H, Whittlesea, VIC")> *Brad was so helpful that it made for a very easy time for me I would highly recommend Ocean Home loans* Peter H, Whittlesea, VIC [](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/ "Complete testimonial by Aileen V, Calamvale, QLD")> *I spoke to and then met Brad about a year ago. I had called a number of specialised lending services but knew that Oceans was the one for me. Brad is extremely knowledgeable and was sensitive to my limited understanding of mortgages. He took the time to explain things to me which was very much appre… [Read more](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/ "Complete testimonial by Aileen V, Calamvale, QLD")* Aileen V, Calamvale, QLD [](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/ "Complete testimonial by Brett M & Eleanor M, Telina, QLD")> *Brad was fantastic to deal with, He set expectations and worked hard on our behalf to secure us a home loan. We will be working with Brad in the future.* Brett M & Eleanor M, Telina, QLD [](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/ "Complete testimonial by Steve & Sarah K, Mudgeeraba, QLD")> *Brad went above and beyond to ensure that we got the home loan we were after. We would highly recommend Ocean home loans to anyone that requires a loan.* Steve & Sarah K, Mudgeeraba, QLD [](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/ "Complete testimonial by Alissa & Jamie B, Nerang, QLD")> *This is the second time we have used Brad and we wont be changing in the future, absolutely amazing. Makes everything so easy for us and has great connections with low interest loans. Definately recommend* Alissa & Jamie B, Nerang, QLD [](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/ "Complete testimonial by Steve W, Chirnside Park, VIC")> *Brad is an industry expert and took time to understand our needs. He was patient with our many queries and really came through for us. Thanks Brad.* Steve W, Chirnside Park, VIC [](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/ "Complete testimonial by Scott & Phoebe W, Mackenzie, QLD")> *Brad at Ocean Home Loans was great. Having your own business can make it more difficulty for finance but he found the right solution for our investment loan. Brad made it easy for us to get the right setup and answered any questions with ease and patience while we house shopped. If you are looking f… [Read more](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/ "Complete testimonial by Scott & Phoebe W, Mackenzie, QLD")* Scott & Phoebe W, Mackenzie, QLD [](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/ "Complete testimonial by Prabu R, Waterloo, NSW")> *I had liaised with several brokers in an attempt to consolidate a lot of unsecured debt I had in the form of credit cards and personal loans. Brad was the only one who was able to fully understand my situation and was able to obtain a suitable option for me to refinance my current home loan and get … [Read more](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/ "Complete testimonial by Prabu R, Waterloo, NSW")* Prabu R, Waterloo, NSW [](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/ "Complete testimonial by Tim W, Spring Hill, QLD")> *Brad has helped me on 2 occasions over 8 yrs and is extremely competent, understanding and ensures the whole process is stress free – I highly recommend him* Tim W, Spring Hill, QLD [](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/ "Complete testimonial by Penne M, Oxenford, QLD")> *Brad was great to work with. Worked in with my hours at work. Kept me in the loop all the way with the banks. Happy to explains thing in layman terms and was very professional in his approach to the whole experience. I would recommend him to anyone that wanted a professional broker to work with and … [Read more](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/ "Complete testimonial by Penne M, Oxenford, QLD")* Penne M, Oxenford, QLD [](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/ "Complete testimonial by Kristy W & Connaire M, Mona Vale, NSW")> *Brad has brokered 3 mortgages for us on 3 properties, and I will definite use his services for any future properties. Trying to navigate banks and work out the best deal for us would have been a complex, if not impossible, task but Brad was able to secure us the best deals each time. His knowledge i… [Read more](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/ "Complete testimonial by Kristy W & Connaire M, Mona Vale, NSW")* Kristy W & Connaire M, Mona Vale, NSW [](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/ "Complete testimonial by Ann W, Bangkok, Thailand")> *The circumstances around applying for an investment loan were complicated given that I’m currently living overseas. Brad was extremely responsive, detailed and organized in his recommendation on how to proceed as well as advising on all documentation required to ensure a successful application. I’ve… [Read more](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/ "Complete testimonial by Ann W, Bangkok, Thailand")* Ann W, Bangkok, Thailand [](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/ "Complete testimonial by Robyn and Bruce B, Cooyal, NSW")> *Hi Brad,* > > *Thank you so much for your help in securing a loan for our new home. I was starting to feel like it wasn’t going to happen for us and will forever be thankful for your help. We love our new place and are once again enjoying life owning our own slice of heaven. Thanks and we would recommend… [Read more](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/ "Complete testimonial by Robyn and Bruce B, Cooyal, NSW")* Robyn and Bruce B, Cooyal, NSW [](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/ "Complete testimonial by Sam & Saul J, Quinns Rocks, WA")> *Brad Kirwan was really helpful and always available when needed even out of working hours.* Sam & Saul J, Quinns Rocks, WA [](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/ "Complete testimonial by Paul and Christina W, Lower Beechmont, QLD")> *I would like to thank Brad of Ocean Home Loans for his persistence and for making the entire process seem quite effortless. From the beginning, until the final payments to the builder Brad was on top of everything . Thanks very much – Paul and Christina W* Paul and Christina W, Lower Beechmont, QLD [](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/ "Complete testimonial by Jessica F & Todd C, Varsity Lakes, QLD")> *We could not recommend Brad enough. This is the 3rd time we have used Ocean home loans and that is testimony to his commitment to get us the best possible solution. This time we purchased a new build and we were thrown lots of challenges. It was great to have Brad in our corner. He was always availa… [Read more](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/ "Complete testimonial by Jessica F & Todd C, Varsity Lakes, QLD")* Jessica F & Todd C, Varsity Lakes, QLD [](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/ "Complete testimonial by Tania & Jason B, Mackay, QLD")> *Highly recommend Brad, so easy to deal with, all questions answered in easy to understand terms, always available for help or last minute questions – fabulous service.* Tania & Jason B, Mackay, QLD [](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/ "Complete testimonial by Josh & Steph W, Maudsland, QLD")> *Brad at Ocean Home Loans went above and beyond in helping us purchase our second property, his advice and expertise was very reassuring, if we had any question or query he would go out of his way to get the answer as soon as he could. I would and will be referring anyone who is looking to purchase a… [Read more](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/ "Complete testimonial by Josh & Steph W, Maudsland, QLD")* Josh & Steph W, Maudsland, QLD [](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/ "Complete testimonial by Michael M & Nadine A, Carrara, QLD")> *Brad is a great broker, always professional and very prompt. We have used his services many times and feel confident referring him to friends and family (which we have done)* Michael M & Nadine A, Carrara, QLD [](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/ "Complete testimonial by Ben S, Benowa, QLD")> *Excellent service. Dealt with Brad Kirwan who was outstanding, never minded the emails or phone calls regarding clarification. Came around after hours to assist. Offered to come into workplace to drop forms off. Even arranged a congratulations gift after everything was settled, great personal touch … [Read more](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/ "Complete testimonial by Ben S, Benowa, QLD")* Ben S, Benowa, QLD [](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/ "Complete testimonial by Amanda & Chris J, Canungra, QLD")> *We first used Brad at Ocean Home Loans 5 years ago. We contacted him again because we remembered how good he was and how helpful he was at the time. We had forgotten how quick and thorough he was though. Brad doesn’t miss a trick or waste any time at all. He knows the right product for his clients… [Read more](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/ "Complete testimonial by Amanda & Chris J, Canungra, QLD")* Amanda & Chris J, Canungra, QLD [](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/ "Complete testimonial by Matt B & Sarah M, Caloundra West, QLD")> *Brad from Ocean Home Loans was very helpful. He always answered my emails and messages quickly. There was never any dramas with the loan application even while I was overseas working* Matt B & Sarah M, Caloundra West, QLD [](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/ "Complete testimonial by Barbara N, Ivanhoe, VIC")> *Brad was extremely professional and helpful. I also found Brad very efficient and knowledgeable. I will use Ocean Home Loans again.* Barbara N, Ivanhoe, VIC [](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/ "Complete testimonial by Karen & Ricky G, Holland Park West, QLD")> *Brad has been tremendous to deal with. He took all the confusion out of the whole process and explained every step clearly. He always made himself available to us and nothing was ever too much trouble. Extremely happy that we found Brad and Ocean Home Loans* Karen & Ricky G, Holland Park West, QLD [](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/ "Complete testimonial by Prabu R, Macquarie Park, NSW")> *This was the second time I used Brad’s services. Brad is without doubt the best mortgage broker professional I have had the pleasure of dealing with. He was always responsive to all my queries and ensured he got the best outcome for me.* > > *The application process was seamless with everything done elec… [Read more](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/ "Complete testimonial by Prabu R, Macquarie Park, NSW")* Prabu R, Macquarie Park, NSW [](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/ "Complete testimonial by Todd C, Varsity Lakes, QLD")> *We where involved in an on the spot multiple offer situation. I called Brad and he guided us through. It was great to have his knowledge and it gave us the confidence in a very un-familiar situation. Going forward he would give us regular updates and coordinated between us and the bank to make every… [Read more](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/ "Complete testimonial by Todd C, Varsity Lakes, QLD")* Todd C, Varsity Lakes, QLD [](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/ "Complete testimonial by Michael & Marion C, Red Cliffs, VIC")> *Ocean Home Loans is Brad Kirwan, and Brad Kirwan is the home loan guru. We originally used OHL’s Brad’s services in late 2015 to take out a home loan on our current home; and we used OHL’s Brad’s skills once again in early 2018 to refinance for a better interest rate home loan; and for the third tim… [Read more](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/ "Complete testimonial by Michael & Marion C, Red Cliffs, VIC")* Michael & Marion C, Red Cliffs, VIC [](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/ "Complete testimonial by Catherine & Derek A, Molendinar, QLD")> *Thank you Brad we found you to be very helpful and friendly, thankyou so much. Derek & Catherine* Catherine & Derek A, Molendinar, QLD [](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/ "Complete testimonial by Emma & Paul D, Highworth, QLD")> *Thank you Brad for your ongoing support and assistance with our home loan, we would highly recommend Brad to anyone who is looking for an expert and highly professional broker who will go above and beyond and guide you through a the home loan process, with a fabulous end result. We cant thank you en… [Read more](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/ "Complete testimonial by Emma & Paul D, Highworth, QLD")* Emma & Paul D, Highworth, QLD [](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/ "Complete testimonial by Daniel B, Wellard, WA")> *I cant thank Brad and the team at Ocean home loans enough. I first spoke to Brad over a year ago after a positive referral from a friend. At first I was hesitant due to the fact I was in Perth and Brad was in QLD. I had just come out of bankruptcy and wasn’t feeling too positive about the prospect o… [Read more](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/ "Complete testimonial by Daniel B, Wellard, WA")* Daniel B, Wellard, WA [](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/ "Complete testimonial by Peter S, Dubai, UAE")> *It is a pleasure to provide this recommendation about Ocean Home Loans. I am an Australian living overseas, seeking help with homes loans is not always straight forward, but working with Brad Kirwan I found that he was motivated, honest, professional and he took the time to work through complex issu… [Read more](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/ "Complete testimonial by Peter S, Dubai, UAE")* Peter S, Dubai, UAE [](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/ "Complete testimonial by Richele & Robert, Gilston, QLD")> *We have been extremely happy with the professional service Brad has offered us throughout the build of our first home. He has always been happy to answer any questions we had, responded to emails promptly and if he didn’t have the answer we needed, he searched for it and responded appropriately. We … [Read more](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/ "Complete testimonial by Richele & Robert, Gilston, QLD")* Richele & Robert, Gilston, QLD [](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/ "Complete testimonial by Radhika M & Hisham Y, Carrara, QLD")> *Brad was very professional and super helpful, he helped my partner and I purchase our first home when we didn’t think we could. He was always available to answer our calls or any questions at any time. Thank You, Brad, we appreciate all your hard work and dedication you went an extra mile for us!! H… [Read more](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/ "Complete testimonial by Radhika M & Hisham Y, Carrara, QLD")* Radhika M & Hisham Y, Carrara, QLD [](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/ "Complete testimonial by Sarah M, New Auckland, QLD")> *I cannot speak highly enough of Brad from Ocean Home Loans! I am an ex bankrupt and tried to talk with a few brokers without much success or ridiculous deposit requirements! Brad helped me every single step of the way and his system is so streamlined and easy to use and understand! Long story short,… [Read more](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/ "Complete testimonial by Sarah M, New Auckland, QLD")* Sarah M, New Auckland, QLD [](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/ "Complete testimonial by Rajendra N, Arundel, QLD")> *Think of every way someone could be helpful in the stressful process of home buying and Brad is one that would provide that. Stay assured he will be with you all the way. Has an amazing way of making concepts simple, without jargon.* *His blogs are a worthy read.* Rajendra N, Arundel, QLD [](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/ "Complete testimonial by Steve & Louise D, Reedy Creek, QLD")> *Brad from Ocean Home Loans has been looking after us for many years, he is very thorough in his work and always goes the extra mile, i would highly recommend Brad to anyone who is looking for a mortgage or refinance.* Steve & Louise D, Reedy Creek, QLD [](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/ "Complete testimonial by Gavin & Jackie D, Forster, NSW")> *Would like to thank Brad for all his time and effort with our Investment Loan Application. Ours wasn’t a straight forward application, but Brad was able to over come my previous issues. Never thought I would own another home/property, or be able to purchase one with my wife but Brad went the extra m… [Read more](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/ "Complete testimonial by Gavin & Jackie D, Forster, NSW")* Gavin & Jackie D, Forster, NSW [](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/ "Complete testimonial by Deon & Danielle, Huntfield Heights, SA")> *For us Brad was the only one willing to take us on out of all the people we tried to contact regarding our circumstances, Brad was very professional, helpful and knew what he was talking about, even though he was in a different state he made everything happen and we we got approved for our home loan… [Read more](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/ "Complete testimonial by Deon & Danielle, Huntfield Heights, SA")* Deon & Danielle, Huntfield Heights, SA [](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/ "Complete testimonial by Simon & Denok E, Sassafras, TAS")> *We thought we had hit a dead end because of my bankruptcy many years ago. It seemed that despite having a flawless credit rating for over 7 years the stigma was hanging on. Brad found the solution and here we are happily living in our new home. I could not praise Brad more highly for his professiona… [Read more](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/ "Complete testimonial by Simon & Denok E, Sassafras, TAS")* Simon & Denok E, Sassafras, TAS [](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/ "Complete testimonial by Paul and Malai B, South Isis, QLD")> *Ocean Home Loans gets 5 stars because of all round excellence. Dealing with Brad has proven to us that really good service still exists. We gave Brad a challenge in that our past financial situation has not been that great. We asked him to help us get a home loan which he did and every step of the p… [Read more](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/ "Complete testimonial by Paul and Malai B, South Isis, QLD")* Paul and Malai B, South Isis, QLD [](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/ "Complete testimonial by Michael & Marion C, Mildura, VIC")> *We would like to thank Brad for all his help. We are so thankful that Brad believed in us and didn’t judge us. Brad’s advise and assistance was and is very valuable. We honestly don’t think we would have never purchased a home again if we hadn’t found Ocean Home Loans. We highly recommend Ocean Home… [Read more](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/ "Complete testimonial by Michael & Marion C, Mildura, VIC")* Michael & Marion C, Mildura, VIC [](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/ "Complete testimonial by Sinead K & Brian G, Mermaid Beach, QLD")> *As first home buyers, Brad provided a fantastic service for us. I highly recommend using Ocean Home Loans!* Sinead K & Brian G, Mermaid Beach, QLD [](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/ "Complete testimonial by Megan M, Southport, QLD")> *Knowledgeable, flexible and a pleasure to deal with. Brad knows his stuff and doesn’t waste your time.* Megan M, Southport, QLD [](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/ "Complete testimonial by Lauren H, Pacific Pines, QLD")> *I can’t thank Brad enough for his service and help that he provided me for my home loan. There was a few hurdles along the way but Brad always promptly advised me of updates and kept me informed. Brad went above and beyond for me and he managed to get me over the line for approval of the loan which … [Read more](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/ "Complete testimonial by Lauren H, Pacific Pines, QLD")* Lauren H, Pacific Pines, QLD [](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/ "Complete testimonial by James R, Burleigh Waters, QLD")> *Brad from Ocean home loans is easily the best in the business when it comes to home loans. I was with someone else in the past but since changing to Brad I won’t go with anyone else. Found me the best rate possible, communication is great and his platform for onboarding is seem less.* James R, Burleigh Waters, QLD [](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/ "Complete testimonial by Kristy W, Brookvale, NSW")> *I have used Brad’s services at Ocean Home Loans for 2 properties and found the process uncomplicated and easy. Brad was always available and walked us through each step, right up to the end and even checked in post settlement to make sure we were OK. I would recommend Brad to all my friends and will… [Read more](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/ "Complete testimonial by Kristy W, Brookvale, NSW")* Kristy W, Brookvale, NSW [](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/ "Complete testimonial by Ashley & Swidle F, Fulham, SA")> *Brad helped us with the mortgage process and everything around it. He provided great friendly service and he was incredibly reliable and honest. As first home buyer, Brad was informative and very patient in explaining what needed to be done at each step and he was very prompt to reply to all my … [Read more](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/ "Complete testimonial by Ashley & Swidle F, Fulham, SA")* Ashley & Swidle F, Fulham, SA [](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/ "Complete testimonial by Rachel & Ricky W, Tamborine Mountain, QLD")> *Brad was great to work with, very understanding of our needs, very accommodating and helpful. Nothing seemed to be too much trouble. I would definitely recommend him to others* Rachel & Ricky W, Tamborine Mountain, QLD [](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/ "Complete testimonial by Kosta M, Cannon Hill, QLD")> *I was recommended Brad from Ocean Home Loans by my mum after a bad experience with a previous broker. From my first phone call, I knew Brad was right for me. His experience in the industry is evident in his quality understanding of the home loans process, and right from the get go told me absolutely… [Read more](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/ "Complete testimonial by Kosta M, Cannon Hill, QLD")* Kosta M, Cannon Hill, QLD [](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/ "Complete testimonial by Tarun G, Kurunjang, VIC")> *Hi my name is tarun. I called Brad from ocean homeloans after I was rejected by other brokers as I was temporary resident and my credit history was bad. Brad understood my case. He guided me properly through the whole process and got my home loan approved. He knew what he was doing and moreover he w… [Read more](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/ "Complete testimonial by Tarun G, Kurunjang, VIC")* Tarun G, Kurunjang, VIC [](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/ "Complete testimonial by Nicola & Matt H, Tanah Merah, QLD")> *We are so blessed & thankful to have had Brad from Ocean Home Loans support us through the whole process of buying our home. Brad really listened to what we wanted, he advised us on the best path forward & then worked his magic behind the scenes & made it all happen with minimal stress for us! Absol… [Read more](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/ "Complete testimonial by Nicola & Matt H, Tanah Merah, QLD")* Nicola & Matt H, Tanah Merah, QLD [](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/ "Complete testimonial by Donna & Justin S, Cedar Grove, QLD")> *We have used Brad on three occasions now and that’s testament to how amazing he is* > > *Always doing the best for us, very helpful, and just great to deal with.* > > Thanks so much Brad ?? Donna & Justin S, Cedar Grove, QLD [](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/ "Complete testimonial by Warwick & Suzanna K, Mudjimba, QLD")> *Brad has been amazing to deal with, professional with clear communication and the best outcome for his clients in mind throughout the loan process. We look forward to recommending Brad to friends and family and working with Brad on our next future purchase.* Warwick & Suzanna K, Mudjimba, QLD [](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/ "Complete testimonial by Tamarah & Chris L, Cedar Grove, QLD")> *My husband and I are extremely happy with the service Brad provided. He explained everything so clearly and helped us through the entire process of buying our dream property. We will definitely be seeking Brads advice and services in the future!!* Tamarah & Chris L, Cedar Grove, QLD [](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/ "Complete testimonial by Michael & Toki B, Two Wells, SA")> *We live in South Australia and found it hard here with brokers. So we contacted Brad from ocean home loans he was very fast and extremely helpful our application was very fast and successful so we know exactly who to use next time.* Michael & Toki B, Two Wells, SA Specialising in all types of home loans, investment loans, SMSF loans, construction loans & first home buyer mortgages, Ocean Home Loans credit advisers have provided mortgage and financial solutions to our customers since 2004. With access to over 600 products and [30 different lenders](https://www.oceanhomeloans.com.au/lenders "Our Lenders"), you can trust an Ocean Home Loans experienced mortgage broker to find the right loan. ## Why are we an Expert Mortgage Broker? We have extensive experience securing home loans and investment loan solutions for many customers with wide and varied financial situations. What sets us apart is our credit knowledge and ability to get your home loan approved even if others have failed; we are experts in not only the easy-to-get approved loans (the ones the banks like to do) but also the loans they feel are in the too-hard basket. [](https://www.oceanhomeloans.com.au/enquire-online) Is your situation a little too hard for the banks? We are experts in obtaining loan approvals for: ## People with unusual employment situations - People who have changed jobs and are now on probation - Contractors, particularly those working in the Mining & IT industries - People who receive part of their income as overtime, commission or bonuses - Casual workers - Agency employees - Short Term Self-Employed ## First Home Buyer Specialists - [Family Guarantor home loans](https://www.oceanhomeloans.com.au/home-loans/family-pledge-guarantor-home-loans/ "Family Pledge Guarantor Home Loans") for first-home buyers looking to borrow 100% plus of the purchase price - 95% home loans for people in a good financial position - Mortgages with no proof of savings required, ideal if your deposit is a gift from a family member ## Home Loan Discounts: - Negotiated interest rate discounts ## Home Loans for Non-Residents - Mortgages for Australians living overseas - [457 visa mortgages](https://www.oceanhomeloans.com.au/home-loans/457-visa-home-loan-for-temporary-australian-residents/ "457 Visa Home Loan for temporary Australian residents") for foreign citizens living in Australia on a working visa - Mortgages for temporary residents living in Australia on a spouse or partner visa ## Purchase / Refinance in a Company or Trust - Company mortgages - Family trust mortgages - [SMSF mortgages](https://www.oceanhomeloans.com.au/home-loans/smsf-home-loans/ "SMSF Home Loans – Have you set up your SMSF & want to invest?") for Self Managed Superannuation Funds ## Poor Credit History Home Loans - Defaults paid & unpaid, Judgements, Writs, Part IX Agreements & Bankruptcy - Tax Debts - Late Payments on existing debts All loan recommendations are based on listening to your needs, which are then analysed using advanced computer software; we then give you a short list of loans to choose from; this includes a comparison of any loans recommended, including the upfront and ongoing fees and the comparison rates. An Ocean Home Loans mortgage broker knows which lender can approve your loan. If you would like to find out more, please call us now at 07 5593 1420 or enquire online, and we will contact you as soon as possible to discuss all your options and secure the best financial solution for your current needs. ### Expect more from Ocean Home Loans [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Internal Disputes Resolution Policy](https://www.oceanhomeloans.com.au/internal-disputes-resolution-policy/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** We aim to provide the very best service for our clients. In the event that you are unhappy regarding any part of our service, our internal dispute resolution process provides that your complaint will be handled efficiently, honestly and fairly. Bradley John Kirwan is authorised as a credit representative (Credit Representative number 399051) to engage in credit activities on behalf of BLSSA Pty Ltd (ACN 117 651 760) (Australian Credit Licence number 391237) who may assist us in the investigation and resolution of your complaint. Should you have a complaint about our services, please contact: Ocean Home Loans Pty Ltd Complaints Officer: NAME: Bradley Kirwan POSITION: Principal Address: 21 Port Jackson Boulevard, Clear Island Waters, QLD, 4226 PHONE: 07 55931 1420 EMAIL: BLSSA Pty Ltd Advice Complaints Officer: POSITION: Complaints Officers ADDRESS: Level 15 360 Elizabeth Street Melbourne, VIC 3000 PHONE: 03 9320 1082 TOLL-FREE: 1800 763 486 EMAIL: [resolutions@BLSSA.com.au]() The Complaints Officers are senior personnel in our organisation and in BLSSA Pty Ltd and have the necessary experience and authority to handle your complaint and make relevant decisions on outcomes. The complaint need not be in writing and may be presented by any reasonable means, for example letter, telephone, email or in person. Please ensure you give us full particulars of your complaint. If you are not satisfied with the response to your complaint, you may contact the Australian Financial Complaints Authority (AFCA) (of which we and BLSSA Pty Ltd are members) on: Online: [www.afca.org.au](https://www.afca.org.au) Email: info@afca.org.au Phone: 1800 931 678 Mail: GPO Box 3 Melbourne VIC 3001 If the complaint is about privacy and the complainant is not satisfied with the outcome of our investigations, the complainant may ask the Office of the Australia Information Commissioner to consider the complaint. The Information Commissioner can be contacted online at https://www.oaic.gov.au/privacy/making-a-privacy-complaint or on 1300 363 992. ### AWARENESS All staff and consultants who deal with (or are likely to deal with) clients, are aware of the names, titles and telephone numbers of our and BLSSA Pty Ltd’s Complaints Officers. Each staff member and consultant is also instructed in how to transfer a client who has a complaint to our Complaints Officer or BLSSA Pty Ltd’s Complaints Officer; and what client details to record if the Complaints Officers are for any reason unavailable (this information will include a minimum of the name, telephone number, and description of the product or transaction to which the complaint relates). We and BLSSA Pty Ltd do not to charge any fee in respect to any complaint. ### TIMELINESS We will provide a written acknowledgement of receipt of the complaint to the client as soon as possible, unless the complaint is otherwise resolved in the meantime. We will ensure that a final response is given to you as soon as possible, but within twenty one (21), thirty (30) or forty five (45) days of receipt of the complaint. If we or BLSSA Pty Ltd are unable to deal with the complaint as it relates to a third party (for example, a lender), we or BLSSA Pty Ltd may ask you to contact the relevant third party. For certain types of complaints, involving “default notices” or urgent disputes such as “applications for hardship”, a final response must be provided within twenty one (21) days. For privacy complaints, we are required to give you a final response within thirty (30) days. Final responses to complaints not involving financial hardship or privacy issues should be received by you within forty five (45) days. If we cannot respond to you within relevant timeframes, we will inform you of the reasons for the delay and of your right to refer the complaint to the Credit and Investments Ombudsman or, in the case of privacy complaints, to the Australian Information Commissioner. We will have provided a final response to you if we: (a) Accept the complaint and, if appropriate, offer redress, or (b) Offer redress without accepting the complaint; or (c) Reject the complaint. **WRITTEN RESPONSE TO A CUSTOMER** We will give you a written response to your complaint and the reasons for reaching a particular decision on the complaint and will adequately address the issues that are raised in your complaint. Where practicable, our response will refer to applicable provisions in legislation, Codes, Standards or Procedures. ### REMEDIES If we accept the complaint and are of the view that it is appropriate to offer redress to you, that redress may be non-financial as well as, or instead of, financial. If we consider that a financial remedy is appropriate then we will provide compensation for any direct loss or damage caused. We will, when determining the appropriate remedy, take into consideration the extent of loss or damage suffered by you, relevant legal principles, EDR scheme rules, the MFAA Code of Practice and other relevant codes of conduct and concepts of fairness and relevant industry best practice. ### DATA COLLECTION We will keep data concerning the complaint in such form and manner as we think fit and will enable analysis according to: (a) Type of complaint; (b) Subject of complaint; (c) Outcome of complaint; (d) Timeliness of response. So that we can identify any systematically recurring problems, we will classify complaints accordingly. Subject to legal constraints including our privacy obligations, we will make available data collected in respect of the complaint upon request to the EDR Scheme, of which we are a member, and the Australian Securities and Investments Commission. ### REVIEW We will review our Internal Dispute Resolution Procedures every three (3) years to ensure that our complaints systems are operating effectively. *This document was reviewed on 01 October 2021* --- ### [About Us - Ocean Home Loans Mortgage Brokers](https://www.oceanhomeloans.com.au/about-us/) **Published:** September 3, 2013 **Author:** Brad Kirwan **Content:** Ocean Home Loans **mortgage brokers** specialize in all types of residential home loans, investment loans & construction loans. We recognise that each client has specific needs with their finance. We strive to meet those unique requirements through our knowledge and expertise gained from many years of experience in the mortgage and finance industry. We are your one-stop shop whatever your situation is, whether you need to refinance your existing home loan, source a new home loan, access the equity in your property for an investment loan or for an SMSF loan to purchase a property for your Self Managed Super Fund, Ocean Home Loans credit advisers are here to help. ## Home loans from over 30 lenders Ocean Home Loans mortgage brokers have access to a panel of [over 30 lenders](https://www.oceanhomeloans.com.au/lenders "Our Lenders") to choose from, giving you the confidence in knowing that whatever your particular circumstance, you can be confident that Ocean Home Loans will get your home loan or investment loan approved, first time, every time. ## We are Mortgage Brokers that don’t charge fees for our services Our services are complimentary for NCCP-regulated residential home and investment loans above $200,000. Ocean Home Loans mortgage brokers don’t charge fees for NCCP-regulated residential loans above $200,000. We are paid a commission by the lender, which is always fully disclosed to you, and this does not affect the type of loan or the interest rate you receive. We will only charge a brokerage fee for short-term loans, SMSF loans and some types of commercial loans. For residential loans under $200,000, we charge a flat fee for our Credit Advice; this will be provided to you before proceeding with an application in our quote document. The loan recommended to you by Ocean Home Loans mortgage brokers is the same loan a bank, building society, non-bank, or credit union would offer you the borrower directly; plus, we have access to lenders that only deal with finance brokers, giving you even greater choice. We get paid by the lender for doing the work that a bank lending officer would otherwise do; you pay the same rate as if you went to the lender directly. However, unlike a bank, we can help you choose from a wide variety of lenders and get the best option for your needs. ## MFAA & AFCA membership Ocean Home Loans mortgage brokers are members of the [MFAA](https://www.mfaa.com.au/ "Mortgage & Finance Association of Australia") & AFCA and are bound to uphold the highest standards with our work. Members must meet strict experience, education, ongoing training and insurance requirements to renew their membership annually. [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Partners](https://www.oceanhomeloans.com.au/partners/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** CompanyContactWeb SiteSJB Quantity Surveyors Radcliff Taylor Lawyers REM Media On Property Bolt Marketing Stroud Homes Ord Minnett BMP AdvisorySteve Blank Corey Radcliff Mike Remmer Ryan McLean Ewan Mackenzie Nathan Dunn Nathan Blair Lloyd Harris[SJB](https://www.sjbqs.com.au) RT Lawyers REM [OnProperty](https://www.onproperty.com.au/) [Bolt](https://www.boltmarketing.com.au/) [Stroud](https://www.stroudhomes.com.au/) [Ords](https://www.ords.com.au/) [BMP](https://www.bmpadvisory.com.au/) --- ### [Connections](https://www.oceanhomeloans.com.au/connections/) **Published:** November 14, 2014 **Author:** Brad Kirwan **Content:** [Web Directory](https://www.sutradirectory.com/) [Directory World](https://www.directoryworld.net/) [Loans Directory](https://www.directoryworld.net/index.php?c=116) [Allthewebsites Directory ](https://www.allthewebsites.org) – A niche web directory offering website promotion and other webmaster resources.  [](https://dir.blogflux.com/cat/investing.html "Investing Blog Directory")  Finance blogs [Search Engine Submission – AddMe](https://www.addme.com/submission/free-submission-start.php) [**FreeWebSubmission.com**](https://www.freewebsubmission.com) The Australian Index [Blog Directory](https://www.Bloghub.com/) Rate oceanhomeloans.com.au  [**SonicRun.com**](https://www.sonicrun.com) Infotiger search engine [Active Search Results](https://www.activesearchresults.com/) [Website Directory Australia](https://directory.com.au/) [Find a Financial Adviser Directory](https://www.financialservicesonline.com.au/directory) [](https://www.auseverything.com.au) [www.rpemery.com](https://www.rpemery.com/) [Slider Search Engine – Free Listing](https://www.slider.com "Full DMOZ Search Engine Free Search Engine Listing") [Blog Flux Directory](https://dir.blogflux.com/) [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [SMSF Home Loans - Have you set up your SMSF & want to invest?](https://www.oceanhomeloans.com.au/home-loans/smsf-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** Are you a Self Managed Super Fund (SMSF) trustee, and do you want to borrow money to invest for your trust? Read on to find out what you need to qualify and how Ocean Home Loans mortgage brokers can assist in getting your SMSF home loan approved. If you haven’t yet set up your SMSF, no problem; please read on to understand what **SMSF Home Loans** are all about. Ocean Home Loans mortgage brokers are experts in SMSF lending for residential and commercial investments. Please call us at 07 5593 1420, and we can discuss your options with you or enquire online. We will contact you as soon as possible. We can also put you in touch with our SMSF partner accountants, lawyers & financial advisers, if needed, who can assist you in the setting up of your SMSF, with the knowledge that your SMSF will be structured correctly to allow borrowing for residential and commercial investment property. ## What are SMSF Home Loans? SMSF home loans are exactly what the name suggests: a loan to your Self Managed Superannuation Fund trustee. The SIS Act generally prohibits the trustee of a regulated superannuation fund, which includes SMSFs, from borrowing money. However, it does allow an SMSF trustee to borrow money to acquire certain kinds of assets, including residential & commercial investment property, provided that certain conditions are met. One of these conditions is that any rights of the lender or other person against the SMSF trustee are limited to the asset acquired with the borrowed money. This is what is often referred to as a “limited recourse” loan. The security custodian trustee will acquire the property using a deposit from the SMSF and the loan. The security custodian will be the legal owner of the property but will hold the property in trust for the SMSF trustee. This trust is called the security trust. The SMSF trustee will have a right to become the legal owner of the property by repaying the SMSF loan in full. *Before your loan can be approved and finalised, you must obtain advice from your financial and legal advisers before taking out an SMSF home loan.* *We recommend you seek independent financial advice before borrowing money to invest via your SMSF. Ocean Home Loans mortgage brokers actively seek to work in conjunction with your professional advisers, such as your accountant, financial adviser or lawyer, to help you obtain the ideal structure for your investment needs.* [](https://www.oceanhomeloans.com.au/enquire-online) ## How much can your SMSF borrow? As a general rule of thumb, a bank will lend up to 80% of a residential property’s value and ask for a guarantee from the trustees; a guarantee may not be required for SMSF home loans below 60% of the property’s value. The benchmarks for commercial property are 70% and 50%, respectively. The bank will assess property quality, credit history and rental income in assessing the need for a guarantee. Note: Lending policies for SMSFs vary between lenders, particularly in how they assess your ability to repay the loan. SMSF mortgages are available as Full Doc or Lo Doc loans. ## Why use a mortgage broker? There is a vast difference in the offerings from the major banks, 2nd tier banks and non-banks for super fund mortgages for residential and commercial investment loans. Ocean Home Loans mortgage brokers are experts in SMSF home loans for residential and commercial investment loans. Please call us on **07 5593 1420** and we can discuss your options with you or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us"), and we will contact you as soon as possible to discuss your options. ## When is an SMSF allowed to borrow money? There are laws restricting the use of SMSFs to borrow money and restricting the recourse of the lender if the trust cannot meet its repayment obligations. A basic outline of the rules a trust must follow to borrow money is as follows: - The borrowing must be used to finance or refinance the acquisition of a “single acquirable asset” (the residential or commercial investment property) that the SMSF trustee is not otherwise prohibited from acquiring by the SIS Act or any other law. The borrowing may also be used to meet expenses incurred in connection with the borrowing or acquisition (such as conveyancing fees, stamp duty, brokerage or loan establishment costs) or in maintaining or repairing the asset. However, the borrowing cannot be used to meet expenses incurred in improving the asset. - The asset is held in trust (the security trust), also known as a bare trust, so the SMSF trustee acquires a beneficial interest in the asset. - The SMSF trustee has a right to acquire legal ownership of the asset by making one or more payments after acquiring the beneficial interest in the asset. - The rights of the lender or any other person against the SMSF trustee in connection with any default on the borrowing are limited to rights relating to the asset. This protects the other assets of the SMSF. This limitation applies to any rights of recovery that the security custodian and any director of the SMSF trustee may have against the SMSF due to their guarantees and the mortgage. - If, under the arrangement, the SMSF trustee has a right relating to the asset (other than the right to acquire legal ownership), the rights of the lender or any other person against the SMSF trustee in connection with or as a result of the SMSF trustee’s exercise of their rights are limited to rights relating to the asset. - The asset is not subject to any charge, including a mortgage, lien or other encumbrance. - Each borrowing arrangement can only be for a “single acquirable asset”. In the case of strata titles or subdivisions, each title is considered a separate asset. [](https://www.oceanhomeloans.com.au/enquire-online) ## Are there any restrictions? There are restrictions on SMSF Home Loans, which prevent some transactions from taking place. For example: - Construction loans are not available. However, the SMSF can pay for renovations out of its own funds but cannot use the borrowed additional funds for this purpose. - Buying a property in your SMSF that you intend to live in (owner-occupied business premises are acceptable). - Selling a residential property to your SMSF that you or a related party owns (commercial property is acceptable). You may also wish to speak to your accountant or financial adviser to determine if your intended transaction complies with lender rules and government regulations. ## Do all banks have SMSF Home Loans? Not all of the major banks have chosen to lend to super funds, placing their own customers in a position of having to source an SMSF Home Loan from another bank or lender or having to seek out a specialist SMSF investment mortgage broker, such as Ocean Home Loans. We know which lenders can help with your residential or commercial property investment. Please call us on **07 5593 1420** to find out which bank or lender would be most suitable for your situation, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us"), and we will contact you as soon as possible to discuss your options. ## How will the loan be structured? The SMSF Home Loan is made out to the trustee of the SMSF in its capacity as a trustee, with the security custodian as the mortgagor. The lender has limited recourse, and if the loan is defaulted, they have no ability to claim the other assets held by the trust. Some lenders require guarantees from the members of the superannuation fund, however, the guarantee is modified to ensure guarantors do not have recourse to the SMSF trustee if there is a default on payment under the guarantee. Other lenders do not require personal guarantees from the superannuation fund members.  ## So, what are the benefits of property investing via SMSF? - Commercial property owned by you can be sold to the SMSF at market rates - Assets in the SMSF are secure as the lender only has recourse on the investment property, plus any additional security provided by the guarantor - The SMSF loan is paid off by using super contributions and rental income - The SMSF is only taxed at the net income after loan interest and expenses are deducted against the rental income - The SMSF is only taxed at a rate of 15% compared to marginal rates if the property was purchased in a personal capacity - Capital gains will only be taxed at a rate of between 0% – 15%. [](https://www.oceanhomeloans.com.au/enquire-online) ## What else should I consider? - The SMSF needs to be established before the security trust (bare trust) and corporate trustee are established. - The security trust (bare trust) and corporate trustee are mere title holders of the property, and all transactions will occur within the SMSF. - The trust deed provided allows for borrowing - The investment strategy of the SMSF should allow for property investment - The SMSF will require sufficient cash flow to service the loan. This can come from rental incomes, investment earnings and member contributions - All transactions incurred must be at arm’s length and at market rates - Do not consider buying a holiday property in your SMSF and then using it ## Applying for an SMSF Mortgage We recommend applying for your SMSF mortgage at least two weeks before you begin looking for a property. As opposed to “normal” lending time frames, it can take the banks several weeks to assess your loan application’s capacity to service and the vetting of the SMSF trust deed by the bank solicitors; by doing so, we can have your SMSF home loan conditionally approved subject only to the satisfactory valuation of the security property, once sourced. There are not many mortgage brokers or bank managers that understand Self Managed Super Funds (SMSF), and even fewer are experts in SMSF mortgage lending. Ocean Home Loans mortgage brokers are experts in SMSF home loans for residential and commercial investment loans. Please call us on **07 5593 1420**, and we can discuss your options with you, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us"), and we will contact you as soon as possible to discuss your options. ***Warning:*** *The content of this page provides **General Advice** about SMSF lending processes, SMSF home loans, lender requirements and our service. It does not take into consideration your specific personal or financial circumstances, needs and objectives and is not a specific recommendation. We recommend you seek independent financial advice before borrowing money to invest via your SMSF.* Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Professional Package Home Loans - What is a Professional Package?](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** **Professional Package Home Loans** are a type of home loan that cater to people who are borrowing a larger amount of money, usually over $250,000. There is an annual fee of $300 to $400 depending upon the lender and in return they will offer substantial interest rate discounts and discounts on a range of additional services such as cheque accounts, insurance and credit cards. Depending on the lender you may also be able to receive discounts on personal loans, margin loans & share market trading. If you are looking to get more than just a home loan from your lender, a Professional Package home loan can offer an excellent way to place several products together and save. ## What are the advantages of Professional Package home loans? Depending on the bank, Professional Package home loans often reduce the standard variable rate (SVR) by 0.5% to 0.9% and the fixed rates by 0.15% to 0.25%. Sometimes further discounts to the interest rates are offered in the case of larger loans over $750,000 or $1,000,000. [](https://www.oceanhomeloans.com.au/enquire-online) These discounts are standard and are offered without negotiation, by using Ocean Home Loans mortgage brokers to negotiate on your behalf, these discounts can be as much as: - Loans over **$250,000:** 1.10% below the SVR. - Loans over **$500,000:** 1.20% below the SVR. - Loans over **$1,000,000** & below **80% LVR:** 1.30% – 1.10% below the SVR. - Loans over **$1,500,000** & below **75% LVR:** 1.40% + below the SVR. - Loans over **$2,500,000:** Discounts are negotiated on a case by case basis. These discounts can also be accompanied by a reduction in a range of fees associated to the loan. The application fee will be waived along with other fees such as switch fees, extra valuation fees and loan split fees. A further cost saving can be found with most Professional Package Home Loans also providing a fee free [100 % offset account](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans"). ## Is a Professional Package suitable for me? A Professional Package home loan is most definitely suitable for you if you: - Are intending to borrow a loan amount greater than $250,000. Most lenders can now offer a discount of 0.5% to 0.9% from their standard variable rate. - Want all your banking in one place and prefer to pay a single fee for all the services you require as opposed to paying fees for each and every service. - Don’t mind changing banks to get the best possible deal. A Professional Package home loan is probably not for you if you: - Need to borrow less than $250,000. - Don’t need a range of bank products. - Don’t want to switch to a new bank. ## Apply for a Professional Package Home Loan Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on Professional Package home loans, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Basic Home Loans - What Makes it Basic?](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** Basic **home loans** are a type of loan that offer less flexibility and in return offer a lower ongoing interest rate, lower or no ongoing fees and often a reduced or nil application fee. The basic home loan has minimal features and normally wouldn’t come with an offset account, repayment holidays, fee free bank account, cheque book or redraw below a certain amount. A simple loan that is easy to use, then the basic home loan would be well suited to you. ## Which lenders have basic home loans? The interest rates, fees & charges that are offered for a basic home loan vary from lender to lender, however most banks & lending institutions offer features of a similar nature for their basic home loans. Some common basic home loan products are: - **CBA –** 3 year special rate saver - **AMP –** Basic home loan - **St George –** Basic home loan - **Suncorp –** Back to basics - **ANZ –** Simplicity plus - **Heritage Bank –** Basic variable - **Macquarie Bank –** Basic variable - **Plus many more…** ## [](https://www.oceanhomeloans.com.au/enquire-online)Is the Interest rate as important? Finding the cheapest basic home loan best suited for you can be difficult, as there are many lenders to choose from. However, there are several things that you need to consider when choosing the right home loan. For loan amounts below $200,000 the fees and charges can be more important than the interest rate, you should check for any hidden fees, particularly those associated with settlement, such as legal and settlement attendance fees, LMI processing fee or Guarantor fee. You should also be on the lookout for any redraw fees that may apply if you want to redraw below the minimum redraw amount or manually redraw at a lender branch. Some lenders offer a nil application fee if you are a first home buyer. We have software that can quickly compare products from [over 30 lenders](https://www.oceanhomeloans.com.au/lenders/ "Our Lenders") to find you the most appropriate loan & the best deal, so please contact us on **07 5593 1420** to talk with a mortgage broker or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## Is a basic home loan suitable for you? Basic home loans do not suit all types of borrowers, specifically they do not as a rule offer the same special interest rate discounts for people borrowing over $200,000, they are most suitable for: - Loan amounts below $200,000: With a basic home loan you can get an interest rate below the standard variable rate even though you don’t meet the banks requirements for a professional package discount. - Don’t need the whole box & dice: Why pay the annual package fee for a professional package loan if you are not going to use all of the features it can offer, such as a credit card. That way with a basic home loan you will only be paying fees for what you need and want. - Keeping it simple: If you find dealing with your money or bank to be too complicated and just want a simple, no fuss solution for your home loan, then more than likely a basic home loan is the loan for you. ## Apply for a basic home loan Need expert advice on basic home loans, then please contact us on **07 5593 1420** to talk with a mortgage broker who can give you that expert advice, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Stamp Duty Calculator - Calculate how much Stamp Duty to Pay](https://www.oceanhomeloans.com.au/stamp-duty-calculator/) **Published:** September 25, 2013 **Author:** Brad Kirwan **Content:** **Stamp Duty** rates apply to the state where the property is located, whether you are going to live in the property, rent it out or if you are a first time buyer, try out our calculator that takes into consideration all of these factors and provides you with the answers you need today. ## How to use this Stamp Duty Calculator **Enter your property details** - Choose the state where the property is - Enter the purchase price of the property - Enter your loan amount **Enter your property type** - Choose between ‘to live in’ if this is to become your home or ‘an investment’ if you are going to rent out the property ### What’s my next option? If you’re actively looking to buy a property soon, it’s a good idea to get a formal home loan pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your home loan repayments and all associated costs. Ocean Home Loans mortgage brokers will be able to help you find a suitable loan from over 600 products and [30 different lenders ](https://www.oceanhomeloans.com.au/lenders "Our Lenders")and get a pre-approval quickly and easily, at no cost to you. If you would like to find out more then please call us now on **07 5593 1420** or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss all your options and secure you the best financial solution for your current needs. If you’re still in the early stages of house hunting and want to do some more research, other than the stamp duty calculator, you might find these other tools useful: [How Much Can I Borrow Calculator](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow Calculator") [Loan Repayments Calculator](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayments Calculator") [Loan Comparison Calculator](https://www.oceanhomeloans.com.au/loan-comparison-calculator/ "Loan Comparison Calculator") Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) **Disclaimer:** Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan. --- ### [Split Rate Loan Calculator - Calculate your Savings](https://www.oceanhomeloans.com.au/split-loan-calculator/) **Published:** September 25, 2013 **Author:** Brad Kirwan **Content:** Need to know how much you could save if you applied for a Split Rate Home Loan or a Combination Rate Home Loan? Try out our Split Rate **Loan Calculator** that allows you to enter any combination of variable and fixed rate portions for your mortgage. ## How to use this Split Rate Loan Calculator **Enter your loan details** - Enter your desired total mortgage amount - Select the percentage of your mortgage you wish to fix - Enter your desired fixed rate - Enter your desired variable rate, for example, a typical variable rate mortgage in the current market might an interest rate of 5.0% to 6.0%. - Choose your loan term, for example, a typical variable rate loan in the current market might have a loan term of 25 to 30 years - Choose whether you want to pay your mortgage Weekly, Fortnightly or Monthly **What’s my next option?** After reviewing your results from the loan calculator it could be worth looking into whether your current mortgage offers you the flexibility you need to meet your financial goals. If not, it might be time to consider your refinancing options. If you’re actively looking to buy a property soon, it’s a good idea to get a formal home loan pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your mortgage repayments and all associated costs. Please call us now on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on split rate home loans & combination rate home loans or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. If you’re looking to purchase but are still in the early stages of house hunting and want to do some more research, try a different loan calculator: [Loan Repayment Calculator](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayment Calculator") [Stamp Duty Calculator](https://www.oceanhomeloans.com.au/stamp-duty-calculator/ "Stamp Duty Calculator") [How Much Can I Borrow Calculator](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow Calculator") Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) **Disclaimer:** Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan. --- ### [Property Selling Costs Calculator](https://www.oceanhomeloans.com.au/property-selling-costs-calculator/) **Published:** September 24, 2017 **Author:** Brad Kirwan **Content:** Need to know what it costs to sell a property? Try out our **Property Selling Costs Calculator** that will allow you to see what your selling costs are. ## How to use this Property Selling Costs Calculator **Enter your property details** - Enter your real estate agent fees and charges - Enter your lender fees - Enter all other costs - Review the calculator results **What’s my next option?** After reviewing the Property Selling Costs Calculator results and you’re actively looking to buy a property soon, it’s a good idea to get a formal home loan pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your home loan repayments and all associated costs. Ocean Home Loans mortgage brokers will be able to help you find a suitable loan from over 600 products and [30 different lenders ](https://www.oceanhomeloans.com.au/lenders "Our Lenders")and get a pre-approval quickly and easily, at no cost to you. If you would like to find out more then please call us now on **07 5593 1420** or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss all your options and secure you the best financial solution for your current needs. If you’re looking to purchase but are still in the early stages of house hunting and want to do some more research, other than the property buying costs calculator, you might find these other tools useful: [Loan Repayment Calculator](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayment Calculator") [Stamp Duty Calculator](https://www.oceanhomeloans.com.au/stamp-duty-calculator/ "Stamp Duty Calculator") [How Much Can I Borrow Calculator](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow Calculator") Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) **Disclaimer:** Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan. --- ### [Property Buying Costs Calculator](https://www.oceanhomeloans.com.au/property-buying-costs-calculator/) **Published:** September 16, 2017 **Author:** Brad Kirwan **Content:** Need to know what the costs of buying a property will be? Try out our **Property Buying Costs Calculator** that allows you to see what the costs of buying a property are. ## How to use this Property Buying Costs Calculator **Enter your property details** - Enter your government fees and charges - Enter your lender fees - Enter all other costs - Review the calculator results **What’s my next option?** After reviewing the Property Buying Costs Calculator results and you’re actively looking to buy a property soon, it’s a good idea to get a formal home loan pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your home loan repayments and all associated costs. Ocean Home Loans mortgage brokers will be able to help you find a suitable loan from over 600 products and [30 different lenders ](https://www.oceanhomeloans.com.au/lenders "Our Lenders")and get a pre-approval quickly and easily, at no cost to you. If you would like to find out more then please call us now on **07 5593 1420** or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss all your options and secure you the best financial solution for your current needs. If you’re looking to purchase but are still in the early stages of house hunting and want to do some more research, other than the property buying costs calculator, you might find these other tools useful: [Loan Repayment Calculator](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayment Calculator") [Stamp Duty Calculator](https://www.oceanhomeloans.com.au/stamp-duty-calculator/ "Stamp Duty Calculator") [How Much Can I Borrow Calculator](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow Calculator") Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) **Disclaimer:** Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan. --- ### [Loan Repayment Calculator - Calculate your Loan Repayment](https://www.oceanhomeloans.com.au/loan-repayment-calculator/) **Published:** September 25, 2013 **Author:** Brad Kirwan **Content:** Need to know how much your weekly, fortnightly or monthly mortgage repayments will be? Try out our **Loan Repayment Calculator** that takes into consideration all of these factors and provides you with the answers you need today. ## How to use this Loan Repayment Calculator **Enter your loan details** - Enter your desired loan amount - Choose your desired loan term, typical loan terms are 25 to 30 years - Choose your interest rate, a typical variable rate loan in the current market might have an interest rate of 5.0% to 6.0% **Enter your preferred loan conditions** - Choose from weekly, fortnightly and monthly mortgage payments - Choose between principal & interest payments or interest only payments ### What’s my next option? If you’re actively looking to buy a property soon and the loan repayments calculated with the loan repayment calculator look good to you, it’s a good idea to get a formal mortgage pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your exact home loan repayments and all associated costs. Ocean Home Loans mortgage brokers will be able to help you find a suitable loan from over 600 products and [30 different lenders ](https://www.oceanhomeloans.com.au/lenders "Our Lenders")and get a pre-approval quickly and easily, at no cost to you. If you would like to find out more then please call us now on **07 5593 1420** or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss all your options and secure you the best financial solution for your current needs. If you’re still in the early stages of house hunting but you want to do some more research, other than the loan repayment calculator, you might find these other tools useful: [How Much Can I Borrow Calculator](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow Calculator") [Stamp Duty Calculator](https://www.oceanhomeloans.com.au/stamp-duty-calculator/ "Stamp Duty Calculator") [Loan Comparison Calculator](https://www.oceanhomeloans.com.au/loan-comparison-calculator/ "Loan Comparison Calculator") Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) **Disclaimer:** Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan. --- ### [Loan Comparison Calculator - Compare Two Loan Scenarios At The Same Time](https://www.oceanhomeloans.com.au/loan-comparison-calculator/) **Published:** September 25, 2013 **Author:** Brad Kirwan **Content:** Need to know what the difference in repayments would be for two home loans with different interest rates? Try out our **Loan Comparison Calculator** that allows you to enter any combination of loan amounts and interest rates and let the comparison calculator show you the difference. ## How to use this Loan Comparison Calculator **Enter your loan details** - Enter your desired mortgage amount - Choose your loan term, for example, a typical variable rate mortgage in the current market might have a loan term of 25 to 30 years - Enter your upfront fees and charges - Enter any ongoing fees - Enter your introductory interest rate, if applicable for loans 1 or 2 or both - Enter the term of the introductory rate - Enter the ongoing rate after the introductory period - Review the calculator results **What’s my next option?** After reviewing the loan comparison calculator results it could be worth looking into whether your current mortgage offers you the flexibility you need to meet your financial goals. If not, it might be time to consider your refinancing options. If you’re actively looking to buy a property soon, it’s a good idea to get a formal home loan pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your mortgage repayments and all associated costs. Ocean Home Loans mortgage brokers will be able to help you find a suitable loan from over 600 products and [30 different lenders ](https://www.oceanhomeloans.com.au/lenders "Our Lenders")and get a pre-approval quickly and easily, at no cost to you. If you would like to find out more then please call us now on **07 5593 1420** or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss all your options and secure you the best financial solution for your current needs. If you’re looking to purchase but are still in the early stages of house hunting and want to do some more research, other than the loan comparison calculator, you might find these other tools useful: [Loan Repayment Calculator](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayment Calculator") [Stamp Duty Calculator](https://www.oceanhomeloans.com.au/stamp-duty-calculator/ "Stamp Duty Calculator") [How Much Can I Borrow Calculator](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow Calculator") Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) **Disclaimer:** Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan. --- ### [How Much Can I Borrow - Calculate your borrowing power!](https://www.oceanhomeloans.com.au/borrowing-capacity/) **Published:** September 25, 2013 **Author:** Brad Kirwan **Content:** Need to know **How Much Can I Borrow,** everyone’s financial situation is unique, there are so many variables in life, try out our how borrowing capacity calculator that takes into consideration all of these factors and provides you with the answers you need today. ## How to use the How Much Can I Borrow Calculator **Enter your loan details** - For example, a typical variable rate loan in the current market might have a loan term of 25 to 30 years, with an interest rate of 5.0% to 6.0%. **Enter your income** - Choose whether this will be a single or joint application - Net income is your salary / wage after tax - Other income is any other regular income you receive, such as rental income from an investment property **Enter your expenses** - Car loan expenses if applicable - Other expenses, include for example personal loans or another home loan you may have - Remember to include your partner’s credit card limit as well, if you’re planning to lodge a joint application ### What’s my next option? If you’re actively looking to buy a property soon, it’s a good idea to get a formal home loan pre-approval, which will provide you with an accurate assessment of your borrowing capacity and confirm your home loan repayments and all associated costs, get an Ocean Home Loans mortgage broker to answer that all important question “how much can I borrow” today. Ocean Home Loans mortgage brokers will be able to help you find a suitable loan from over 600 products and [30 different lenders ](https://www.oceanhomeloans.com.au/lenders "Our Lenders")and get a pre-approval quickly and easily, at no cost to you. If you would like to find out more then please call us now on **07 5593 1420** or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss all your options and secure you the best financial solution for your current needs. If you’re still in the early stages of house hunting and want to do some more research, other than how much can I borrow, you might find these other tools useful: [Loan Repayment Calculator](https://www.oceanhomeloans.com.au/loan-repayment-calculator/ "Loan Repayment Calculator") [Stamp Duty Calculator](https://www.oceanhomeloans.com.au/stamp-duty-calculator/ "Stamp Duty Calculator") [Loan Comparison Calculator](https://www.oceanhomeloans.com.au/loan-comparison-calculator/ "Loan Comparison Calculator") Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) **Disclaimer:** Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as an indication only. They are neither a quote nor a pre-qualification for a home loan. --- ### [Site Map](https://www.oceanhomeloans.com.au/site-map/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** ### Pages - [About Us – Ocean Home Loans Mortgage Brokers](https://www.oceanhomeloans.com.au/about-us/) - [Blog](https://www.oceanhomeloans.com.au/blog/) - [Connections](https://www.oceanhomeloans.com.au/connections/) - [Contact Us](https://www.oceanhomeloans.com.au/contact-us/) - [Disclaimer](https://www.oceanhomeloans.com.au/disclaimer/) - [Enquire Online](https://www.oceanhomeloans.com.au/enquire-online/) - [Gold Coast Home Loan Mortgage Brokers](https://www.oceanhomeloans.com.au/) - [Home Loans](https://www.oceanhomeloans.com.au/home-loans/) - [457 Visa Home Loan for temporary Australian residents](https://www.oceanhomeloans.com.au/home-loans/457-visa-home-loan-for-temporary-australian-residents/) - [Bad Credit Home Loans – What is a Bad Credit Home Loan?](https://www.oceanhomeloans.com.au/home-loans/bad-credit-home-loans/) - [Basic Home Loans – What Makes it Basic?](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/) - [Construction Home Loans – Building your Home or Investment Property](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/) - [Family Pledge Guarantor Home Loans – How to get a No Deposit Home Loan](https://www.oceanhomeloans.com.au/home-loans/family-pledge-guarantor-home-loans/) - [First Home Buyer Home Loans – Which Home Loan Is Right For Me?](https://www.oceanhomeloans.com.au/home-loans/first-home-buyer-home-loans/) - [Fixed Interest Rate Home Loans – Should I Fix my Home Loan?](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/) - [Home Loans for Doctors & Medical Professionals](https://www.oceanhomeloans.com.au/home-loans/home-loans-for-doctors/) - [Investment Home Loans – Maximise Your Borrowing Capacity](https://www.oceanhomeloans.com.au/home-loans/investment-home-loans/) - [Lo Doc Home Loans – Simpler loans for the self-employed](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans/) - [Offset Account Home Loans – Pay Your Loan Off Sooner](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/) - [Professional Package Home Loans – What is a Professional Package?](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/) - [Refinance Home Loans – Which Home Loan Is Right For Me?](https://www.oceanhomeloans.com.au/home-loans/refinance-home-loans/) - [Self Employed Home Loan – What makes you Different?](https://www.oceanhomeloans.com.au/home-loans/self-employed-home-loans/) - [SMSF Home Loans – Have you set up your SMSF & want to invest?](https://www.oceanhomeloans.com.au/home-loans/smsf-home-loans/) - [Split Rate Home Loans & Combination Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/) - [How Much Can I Borrow – Calculate your borrowing power!](https://www.oceanhomeloans.com.au/borrowing-capacity/) - [Internal Disputes Resolution Policy](https://www.oceanhomeloans.com.au/internal-disputes-resolution-policy/) - [Lenders](https://www.oceanhomeloans.com.au/lenders/) - [Loan Comparison Calculator – Compare Two Loan Scenarios At The Same Time](https://www.oceanhomeloans.com.au/loan-comparison-calculator/) - [Loan Repayment Calculator – Calculate your Loan Repayment](https://www.oceanhomeloans.com.au/loan-repayment-calculator/) - [Monthly Budget](https://www.oceanhomeloans.com.au/budget/) - [Mortgage Calculators](https://www.oceanhomeloans.com.au/mortgage-calculators/) - [Partners](https://www.oceanhomeloans.com.au/partners/) - [Privacy Policy](https://www.oceanhomeloans.com.au/privacy/) - [Property Buying Costs Calculator](https://www.oceanhomeloans.com.au/property-buying-costs-calculator/) - [Property Selling Costs Calculator](https://www.oceanhomeloans.com.au/property-selling-costs-calculator/) - [Site Map](https://www.oceanhomeloans.com.au/site-map/) - [Split Rate Loan Calculator – Calculate your Savings](https://www.oceanhomeloans.com.au/split-loan-calculator/) - [Stamp Duty Calculator – Calculate how much Stamp Duty to Pay](https://www.oceanhomeloans.com.au/stamp-duty-calculator/) - [Subscribe to My Blog](https://www.oceanhomeloans.com.au/subscribe-to-my-blog/) - [Testimonials](https://www.oceanhomeloans.com.au/testimonials/) ### Posts - [‘Don’t rock the board’ – RBA keeps interest rates on hold](https://www.oceanhomeloans.com.au/dont-rock-the-board-rba-keeps-interest-rates-on-hold/) - [“No change” say the RBA, as interest rates stay on hold](https://www.oceanhomeloans.com.au/no-change-say-the-rba-as-interest-rates-stay-on-hold/) - [10 Questions to ask your Estate Agent when selling an Investment Property](https://www.oceanhomeloans.com.au/10-questions-to-ask-your-estate-agent-when-selling-an-investment-property/) - [10 Tips for Paying off your Home Loan sooner](https://www.oceanhomeloans.com.au/10-tips-for-paying-off-your-home-loan-sooner/) - [2013 Property Market & Home Loan Interest Rates Market Update](https://www.oceanhomeloans.com.au/2013-property-market-home-loan-interest-rates-market-update/) - [2014 Budget speech overview – the key facts](https://www.oceanhomeloans.com.au/2014-budget-overview-the-key-facts/) - [2014 Investment Property Success Plan](https://www.oceanhomeloans.com.au/2014-investment-property-success-plan/) - [2020 Kicks Off with Interest Rates on Hold](https://www.oceanhomeloans.com.au/2020-kicks-off-with-interest-rates-on-hold/) - [3 Compelling Reasons to Get a pre approval](https://www.oceanhomeloans.com.au/3-compelling-reasons-to-get-a-pre-approval/) - [3 Questions to Ask Before you Refinance your Home Loan](https://www.oceanhomeloans.com.au/3-questions-to-ask-before-you-refinance-your-home-loan/) - [3 Simple Steps to Reduce Your Home Loan](https://www.oceanhomeloans.com.au/3-simple-steps-to-reduce-your-home-loan/) - [3 tips to help you plan your investment property attack](https://www.oceanhomeloans.com.au/3-tips-to-help-you-plan-your-investment-property-attack/) - [3 ways to be tax smart and how to save on your investment property](https://www.oceanhomeloans.com.au/3-ways-to-be-tax-smart-and-how-to-save-on-your-investment-property/) - [3 ways to benefit from the low interest rate environment](https://www.oceanhomeloans.com.au/3-ways-to-benefit-from-the-low-interest-rate-environment/) - 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Do you have an Investment Property Loan?](https://www.oceanhomeloans.com.au/its-almost-tax-time-do-you-have-an-investment-property-loan/) - [It’s Time to Factor in Rises in Home Loan Fixed Interest Rates](https://www.oceanhomeloans.com.au/its-time-to-factor-in-interest-rate-rises/) - [July 2020 RBA – Interest Rates Remain on Hold](https://www.oceanhomeloans.com.au/july-2020-rba-interest-rates-remain-on-hold/) - [June 2020 RBA – Rate Remains at Record Low](https://www.oceanhomeloans.com.au/june-2020-rba-rate-remains-at-record-low/) - [Keeping your credit history clean](https://www.oceanhomeloans.com.au/keeping-your-credit-history-clean/) - [Leave property investors alone](https://www.oceanhomeloans.com.au/leave-property-investors-alone/) - [Lender Special $1,250 Home Loan Refinance Rebate](https://www.oceanhomeloans.com.au/lender-special-home-loan-refinance-rebate/) - [Lender Special $1,250 Home Loan Refinance Rebate – Update](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-update/) - [Lender Special $1,250 Home Loan Refinance Rebate Extended](https://www.oceanhomeloans.com.au/lender-special-1250-home-loan-refinance-rebate-extended/) - [Loan Product Focus – Construction Loan](https://www.oceanhomeloans.com.au/loan-product-focus-construction-loans/) - [Loan Product Focus – Family Pledge Loan](https://www.oceanhomeloans.com.au/loan-product-focus-family-pledge-loan/) - [Look after your investment property and so will your tenants](https://www.oceanhomeloans.com.au/look-after-your-investment-property-and-so-will-your-tenants/) - [Looking for a Home Loan but don’t have a big enough deposit](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/) - [low doc home loans can provide an alternative for the self-employed](https://www.oceanhomeloans.com.au/low-doc-home-loans-can-provide-an-alternative-for-the-self-employed/) - [Make sure you get the right accountant for your investment property](https://www.oceanhomeloans.com.au/make-sure-you-get-the-right-accountant-for-your-investment-property/) - [Melbourne Cup interest rates decision – on hold at 1.5%](https://www.oceanhomeloans.com.au/melbourne-cup-interest-rates-decision-on-hold-at-1-5/) - [Mortgage Broker or Bank Lending Manager – Who would you use?](https://www.oceanhomeloans.com.au/mortgage-broker-or-bank-lending-manager-who-would-you-use/) - [Mortgage Brokers more popular than ever](https://www.oceanhomeloans.com.au/mortgage-brokers-more-popular-than-ever/) - [Mortgage Interest Rates – No Change](https://www.oceanhomeloans.com.au/mortgage-interest-rates-no-change/) - [Mortgage Offset or Home Loan Redraw – what’s best?](https://www.oceanhomeloans.com.au/mortgage-offset-or-home-loan-redraw-whats-best/) - [Mortgage Repayments on the rise](https://www.oceanhomeloans.com.au/mortgage-repayments-on-the-rise/) - [New year same official interest rates](https://www.oceanhomeloans.com.au/new-year-same-official-interest-rates/) - [New year, no changes to interest rates](https://www.oceanhomeloans.com.au/new-year-no-changes-to-interest-rates/) - [No change as RBA holds ground on interest rates](https://www.oceanhomeloans.com.au/no-change-as-rba-holds-ground-on-interest-rates/) - [No change in interest rates](https://www.oceanhomeloans.com.au/no-change-in-interest-rates/) - [No change in interest rates again](https://www.oceanhomeloans.com.au/no-change-in-interest-rates-again/) - [No Change to Interest Rates](https://www.oceanhomeloans.com.au/no-change-to-interest-rates/) - [No Change to Official Interest Rates](https://www.oceanhomeloans.com.au/no-change-to-official-interest-rates/) - [No deposit home loan? Three ways to invest in property now](https://www.oceanhomeloans.com.au/no-deposit-home-loan-three-ways-to-invest-in-property-now/) - [No move on Interest Rates again](https://www.oceanhomeloans.com.au/no-move-on-interest-rates-again/) - [No movement as interest rates remain on hold](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-remain-on-hold/) - [No Movement as Interest Rates Stay on Hold at 1.75%](https://www.oceanhomeloans.com.au/no-movement-as-interest-rates-stay-on-hold-at-1-75/) - [No movement as RBA keeps interest rates on hold](https://www.oceanhomeloans.com.au/no-movement-as-rba-keeps-interest-rates-on-hold/) - [No Movement in Interest Rates](https://www.oceanhomeloans.com.au/no-movement-in-interest-rates/) - [No Movement on Interest Rates this month](https://www.oceanhomeloans.com.au/no-movement-on-interest-rates-this-month/) - [No punting on interest rates – RBA sits tight.](https://www.oceanhomeloans.com.au/no-punting-on-interest-rates-rba-sits-tight/) - 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[Product Focus – Combination Loan or Split Loan](https://www.oceanhomeloans.com.au/product-focus-combination-or-split-loan/) - [Product Focus – Line of Credit Loan](https://www.oceanhomeloans.com.au/product-focus-line-of-credit-loan/) - [Professional Package Home Loans offer Discounts on Interest Rates](https://www.oceanhomeloans.com.au/professional-package-home-loans-offer-discounts-on-interest-rates/) - [Property Investing Outside the Inner City](https://www.oceanhomeloans.com.au/property-investing-outside-the-inner-city/) - [Property Investment – Ocean’s 11 Keys to Investment Property Success](https://www.oceanhomeloans.com.au/property-investment-oceans-11-keys-to-investment-property-success/) - [Property Investment – Cashflow or Capital Growth?](https://www.oceanhomeloans.com.au/property-investment-cashflow-or-capital-growth/) - [Property investors – Don’t overlook the depreciation schedule](https://www.oceanhomeloans.com.au/property-investors-dont-overlook-the-depreciation-schedule/) - [Property market underpins the Australian economy](https://www.oceanhomeloans.com.au/property-market-underpins-the-australian-economy/) - [Property or Shares – where should you invest?](https://www.oceanhomeloans.com.au/property-or-shares-where-should-you-invest/) - [Purchasing an investment property using current equity](https://www.oceanhomeloans.com.au/purchasing-an-investment-property-using-current-equity/) - [Put your credit card debt on Ice](https://www.oceanhomeloans.com.au/put-your-credit-card-debt-on-ice/) - [Quick Fix Home Improvements](https://www.oceanhomeloans.com.au/quick-fix-home-improvements/) - [Rates on Hold – Hot Investment Property Market](https://www.oceanhomeloans.com.au/rates-on-hold-hot-investment-property-market/) - [Rates on Hold – Is it time for a Home Loan Refinance](https://www.oceanhomeloans.com.au/rates-on-hold-is-it-time-for-a-home-loan-refinance/) - [Rates on Hold, But Help on the Way for First Home Buyers](https://www.oceanhomeloans.com.au/rates-on-hold-but-help-on-the-way-for-first-home-buyers/) - [RBA Announcement as Expected – interest rates remain at 1.50%](https://www.oceanhomeloans.com.au/rba-announcement-as-expected-interest-rates-remain-at-1-50/) - [RBA Cuts Interest Rates Again](https://www.oceanhomeloans.com.au/rba-cuts-interest-rates-again/) - [RBA hails 2016 in with no change to interest rates](https://www.oceanhomeloans.com.au/rba-hails-2016-in-with-no-change-to-interest-rates/) - [RBA holds interest rates in October](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-in-october/) - [RBA holds interest rates steady at 1.5%pa](https://www.oceanhomeloans.com.au/rba-holds-interest-rates-steady-at-1-5pa/) - [RBA Interest Rates remain at 1.5%pa](https://www.oceanhomeloans.com.au/rba-interest-rates-remain-at-1-5pa/) - [RBA keeps a firm grip on the wheel as interest rates remain on hold.](https://www.oceanhomeloans.com.au/rba-keeps-a-firm-grip-on-the-wheel-as-interest-rates-remain-on-hold/) - [RBA keeps Interest Rates on hold at record low](https://www.oceanhomeloans.com.au/rba-keeps-interest-rates-on-hold-at-record-low/) - [RBA leaves Interest Rates on hold](https://www.oceanhomeloans.com.au/rba-leaves-interest-rates-on-hold/) - [RBA sees out 2017 with no Change to Official Interest Rates](https://www.oceanhomeloans.com.au/rba-sees-out-2017-with-no-change-to-official-interest-rates/) - [RBA signs off 2018 with no change to Interest Rates](https://www.oceanhomeloans.com.au/rba-signs-off-2018-with-no-change-to-interest-rates/) - [RBA sits on the sidelines as Interest Rates remain on hold](https://www.oceanhomeloans.com.au/rba-sits-on-the-sidelines-as-interest-rates-remain-on-hold/) - [RBA stays on the fence – interest rates remain on hold](https://www.oceanhomeloans.com.au/rba-stays-on-the-fence-interest-rates-remain-on-hold/) - [RBA Still on Hold – Interest Rates Remain at 1.5%](https://www.oceanhomeloans.com.au/rba-still-on-hold-interest-rates-remain-at-1-5/) - [RBA to hold interest rates tight until 2015](https://www.oceanhomeloans.com.au/rba-to-hold-interest-rates-tight-until-2015/) - [Rental Return or Capital Growth – What is your Investment Property Strategy](https://www.oceanhomeloans.com.au/rental-return-or-capital-growth-what-is-your-investment-property-strategy/) - [Reserve Bank – no move on Interest Rates](https://www.oceanhomeloans.com.au/reserve-bank-no-move-on-interest-rates/) - [Royal Commission yet to affect Interest Rates](https://www.oceanhomeloans.com.au/royal-commission-yet-to-affect-interest-rates/) - [Saving for a Home Loan – it’s all in the Budgeting](https://www.oceanhomeloans.com.au/saving-for-a-home-loan-its-all-in-the-budgeting/) - [Saving for your future financial freedom starts today](https://www.oceanhomeloans.com.au/saving-for-your-future-financial-freedom-starts-today/) - [Self Employed Home Loan – using add backs to incease your borrowing capacity](https://www.oceanhomeloans.com.au/self-employed-home-loan-using-add-backs-to-incease-your-borrowing-capacity/) - [Self Managed Super Fund – The Facts](https://www.oceanhomeloans.com.au/self-managed-super-fund-the-facts/) - [Self-Employed – a Low Doc Home Loan could be the answer](https://www.oceanhomeloans.com.au/self-employed-a-low-doc-home-loan-could-be-the-answer/) - [Selling Your Investment Property – Choosing the Right Time](https://www.oceanhomeloans.com.au/selling-your-investment-property-choosing-the-right-time/) - [Should I get a home loan or continue paying rent – the debate](https://www.oceanhomeloans.com.au/should-i-get-a-home-loan-or-continue-paying-rent-the-debate/) - [Should I get my Home Loan from a smaller Lender](https://www.oceanhomeloans.com.au/should-i-get-my-home-loan-from-a-smaller-lender/) - [Should State Governments Abolish Stamp Duty?](https://www.oceanhomeloans.com.au/should-state-governments-abolish-stamp-duty/) - [Should you renovate or demolish and do a full construction](https://www.oceanhomeloans.com.au/should-you-renovate-or-demolish-and-do-a-full-construction/) - [SMSF Borrowing – When is a Super Fund allowed to borrow to invest](https://www.oceanhomeloans.com.au/smsf-borrowing-when-is-a-self-mananged-superannuation-fund-allowed-to-borrow-to-invest/) - [SMSF: How to choose the best properties](https://www.oceanhomeloans.com.au/smsf-how-to-choose-the-best-properties/) - [Solar: The ‘No-Brainer’ That Could Take Suburbs Off Grid](https://www.oceanhomeloans.com.au/solar-the-no-brainer-that-could-take-suburbs-off-grid/) - [Split rate home loan – the best of variable and fixed interest rates](https://www.oceanhomeloans.com.au/split-rate-home-loan-the-best-of-variable-and-fixed-interest-rates/) - [Splitting your home loan choices](https://www.oceanhomeloans.com.au/splitting-your-home-loan-choices/) - [Spring arrives – Interest Rates on Hold](https://www.oceanhomeloans.com.au/spring-arrives-interest-rates-on-hold/) - [Spring clean your finances with a home loan health check](https://www.oceanhomeloans.com.au/spring-clean-your-finances-with-a-home-loan-health-check/) - [Spring investment property form guide – our 5 top picks](https://www.oceanhomeloans.com.au/spring-investment-property-form-guide-our-5-top-picks/) - [Steady as she goes – RBA keeps interest rates on hold](https://www.oceanhomeloans.com.au/steady-as-she-goes-rba-keeps-interest-rates-on-hold/) - [Steady as she goes – interest rates remain at 1.50%](https://www.oceanhomeloans.com.au/steady-as-she-goes-interest-rates-remain-at-1-50/) - [Steady as she goes for both property investors and home owners](https://www.oceanhomeloans.com.au/steady-as-she-goes-for-both-property-investors-and-home-owners/) - [Steady inflation contributes to steady interest rates](https://www.oceanhomeloans.com.au/steady-inflation-contributes-to-steady-interest-rates/) - [Steady, steady – Interest Rates remain at 1.50%.](https://www.oceanhomeloans.com.au/steady-steady-interest-rates-remain-at-1-50/) - [Studies show that Investing in Property makes Money](https://www.oceanhomeloans.com.au/studies-show-that-investing-in-property-makes-money/) - [Summer is here, but the RBA stays cool and keeps interest rates on hold](https://www.oceanhomeloans.com.au/summer-is-here-but-the-rba-stays-cool-and-keeps-interest-rates-on-hold/) - [Taking the stress out of Home Loan applications](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-home-loan-applications/) - [Taking the stress out of the first home buyer experience](https://www.oceanhomeloans.com.au/taking-the-stress-out-of-the-first-home-buyer-experience/) - [The 2014/2015 property market in review](https://www.oceanhomeloans.com.au/the-20142015-property-market-in-review/) - [The 2015 Budget – what’s in it for you?](https://www.oceanhomeloans.com.au/the-2015-budget-whats-in-it-for-you/) - [The 4 musts of protecting your investment property portfolio](https://www.oceanhomeloans.com.au/the-4-musts-of-protecting-your-investment-property-portfolio/) - [The 6 steps to becoming a property investor](https://www.oceanhomeloans.com.au/the-6-steps-to-becoming-a-property-investor/) - [The 7 key components of a low doc home loan for the self-employed](https://www.oceanhomeloans.com.au/the-7-key-components-of-a-low-doc-home-loan-for-the-self-employed/) - [The 8 steps to buying an investment property](https://www.oceanhomeloans.com.au/the-8-steps-to-buying-an-investment-property/) - [The benefits of Interest in Advance for property investors](https://www.oceanhomeloans.com.au/the-benefits-of-interest-in-advance-for-property-investors/) - [The best time for a home loan refinance is when interest rates are low](https://www.oceanhomeloans.com.au/the-best-time-for-a-home-loan-refinance-is-when-interest-rates-are-low/) - [The Federal Budget – what it means for you](https://www.oceanhomeloans.com.au/the-federal-budget-what-it-means-for-you/) - [The future of the Interest only loan](https://www.oceanhomeloans.com.au/the-future-of-the-interest-only-loan/) - [The investment property market is hot – don’t get left in the shade](https://www.oceanhomeloans.com.au/the-investment-property-market-is-hot-dont-get-left-in-the-shade/) - [The Property Investment Growth Suburbs – How to Find Them (Before the Boom)](https://www.oceanhomeloans.com.au/property-investment-growth-suburbs-how-to-find-them/) - [The RBA rings in 2017 with no changes to Interest Rates](https://www.oceanhomeloans.com.au/the-rba-rings-in-2017-with-no-changes-to-interest-rates/) - [The rise of Apartment living – an Investment Property opportunity](https://www.oceanhomeloans.com.au/the-rise-of-apartment-living-an-investment-property-opportunity/) - [The Secrets of a Home Renovation Reality](https://www.oceanhomeloans.com.au/the-secrets-of-a-home-renovation-reality/) - [The simple mistakes to avoid when starting out in property investment](https://www.oceanhomeloans.com.au/the-simple-mistakes-to-aviod-when-starting-out-in-property-investment/) - [The Ultimate Guide to Home Loan Pre-Approval](https://www.oceanhomeloans.com.au/the-ultimate-guide-to-home-loan-pre-approval/) - [There’s never been a better opportunity to pay your home loan off sooner](https://www.oceanhomeloans.com.au/theres-never-been-a-better-opportunity-to-pay-your-home-loan-off-sooner/) - [Thinking of buying an investment property as a holiday home?](https://www.oceanhomeloans.com.au/thinking-of-buying-an-investment-property-as-a-holiday-home/) - [Tips & Tricks – To Sell Your Property Quickly](https://www.oceanhomeloans.com.au/tips-tricks-to-sell-your-property-quickly/) - [Types of Home Loans 101](https://www.oceanhomeloans.com.au/types-of-home-loans-101/) - [What a mortgage broker can do for you](https://www.oceanhomeloans.com.au/what-a-mortgage-broker-can-do-for-you/) - [What are the latest First Home Owner Grant Schemes?](https://www.oceanhomeloans.com.au/what-are-the-latest-first-home-owner-grant-schemes/) - [What are the pitfalls of an “off the plan” Investment Property?](https://www.oceanhomeloans.com.au/what-are-the-pitfalls-of-an-off-the-plan-investment-property/) - [What do the lending changes mean for your investment property portfolio?](https://www.oceanhomeloans.com.au/what-do-the-lending-changes-mean-for-your-investment-property-portfolio/) - [What does a mortgage broker do and 8 reasons why you should use one](https://www.oceanhomeloans.com.au/what-does-a-mortgage-broker-do-an-8-reasons-why-you-should-use-one/) - [What home loan should I choose?](https://www.oceanhomeloans.com.au/what-home-loan-should-i-choose/) - [What is a 100% Mortgage Offset Loan Account?](https://www.oceanhomeloans.com.au/what-is-a-100-mortgage-offset-account-2/) - [What is a Property Buyer’s Agent and what do they do?](https://www.oceanhomeloans.com.au/what-is-a-property-buyers-agent-and-what-do-they-do/) - [What is home loan portability?](https://www.oceanhomeloans.com.au/what-is-home-loan-portability/) - [What is the Right Home Loan for Renovations](https://www.oceanhomeloans.com.au/what-is-the-right-home-loan-for-renovations/) - [What Mortgage suits your Lifestyle?](https://www.oceanhomeloans.com.au/what-mortgage-suits-your-lifestyle/) - [What to be aware of when buying an Off the Plan Investment Property](https://www.oceanhomeloans.com.au/what-to-be-aware-of-when-buying-an-off-the-plan-investment-property/) - [What to Consider when Buying a Second Property](https://www.oceanhomeloans.com.au/what-to-consider-when-buying-a-second-property/) - [What were the major indicators for the economy in 2014](https://www.oceanhomeloans.com.au/what-were-the-major-indicators-for-the-economy-in-2014/) - [What you Need to Know about Home Loan Refinancing](https://www.oceanhomeloans.com.au/what-you-need-to-know-about-home-loan-refinancing/) - [What’s Hot in Property](https://www.oceanhomeloans.com.au/whats-hot-in-property/) - [When and why would I need a relocation home loan](https://www.oceanhomeloans.com.au/when-and-why-would-i-need-a-relocation-home-loan/) - [Which Self-Employed Home Loan to choose?](https://www.oceanhomeloans.com.au/which-self-employed-home-loan-to-choose/) - [Why choose an interest only investment mortgage](https://www.oceanhomeloans.com.au/why-choose-an-interest-only-investment-mortgage/) - [Why Location is Crucial when Buying an Investment Property](https://www.oceanhomeloans.com.au/why-location-is-crucial-when-buying-an-investment-property/) - [Why you should be thinking of a home loan refinance](https://www.oceanhomeloans.com.au/why-you-should-be-thinking-of-a-home-loan-refinance/) - [Why you Should Pay for a Pre-Purchase Property Inspection?](https://www.oceanhomeloans.com.au/should-i-pay-for-a-pre-purchase-property-inspection/) - [Winter 2014 Home Loan & Mortgage Market Update](https://www.oceanhomeloans.com.au/winter-2014-home-loan-mortgage-market-update/) - [With rates so low, now is the time to look at a mortgage refinance](https://www.oceanhomeloans.com.au/with-rates-so-low-now-is-the-time-to-look-at-a-mortgage-refinance/) - [Would a home loan refinance improve your financial position](https://www.oceanhomeloans.com.au/would-a-home-loan-refinance-improve-your-financial-position/) [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Privacy Policy](https://www.oceanhomeloans.com.au/privacy/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** ## Respecting your privacy We respect your personal information, and this Privacy Policy explains how we handle it. The policy covers Ocean Home Loans Pty Ltd. This Policy also includes our credit reporting policy, that is, it covers additional information on how we manage your personal information collected in connection with a credit application, or a credit facility. We refer to this credit-related information below as **credit information**. If you are in a country that is a member of the European Economic Area (EEA), the EU General Data Protection Regulation 2016/679 (‘**GDPR’**) governs the way we collect, use, hold, process and disclose your personal information. Under the GDPR, we are a data controller. We make decisions on how and why your personal information is processed. ## What personal information do we collect and hold? ### General information The types of information that we collect and hold about you could include: - ID information such as your name, postal or email address, telephone numbers, and date of birth; - other contact details such as social media handles; - financial details such as your tax file number; and - other information we think is necessary. ### When the law authorises or requires us to collect information We may collect information about you because we are required or authorised by law to collect it. There are laws which require us to collect personal information. For example, we require personal information to verify your identity under Australian Anti-Money Laundering law. ### What do we collect via your website activity? If you’re an internet customer of ours, we monitor your use of internet services to ensure we can verify you and can receive information from us, and to identify ways we can improve our services for you. If you start but don’t submit an on-line application, we can contact you using any of the contact details you’ve supplied to offer help completing it. The information in applications will be kept temporarily then destroyed if the application is not completed. We also know that some customers like to engage with us through social media channels. We may collect information about you when you interact with us through these channels. However, for all confidential matters, we’ll ensure we interact with you via a secure forum. To improve our services and products, we sometimes collect de-identified information from web users. That information could include IP addresses or geographical information to ensure your use of our web applications is secure. ## How do we collect your personal information? ### How we collect and hold your information Unless it’s unreasonable or impracticable, we will try to collect personal information directly from you (referred to as ‘solicited information’). For this reason, it’s important that you help us to do this and keep your contact details up-to-date. There are a number of ways in which we may seek information from you. We might collect your information when you fill out a form with us, when you’ve given us a call or used our website. We also find using electronic means, such as email or SMS, a convenient way to communicate with you and to verify your details . ### How we collect your information from other sources Sometimes, we will collect information about you from other sources as the Privacy Act 1988 permits. We will do this only if it’s reasonably necessary to do so, for example, where: - we collect information from third parties about the loan or lease made available to you arising out of the services we provide you; - we can’t get hold of you and we rely on public information (for example, from public registers or social media) or made available by third parties) to update your contact details; or - we exchange information with your legal or financial advisers or other representatives. ### What if you don’t want to provide us with your personal information? If you don’t provide your information to us, it may not be possible: - for us to give you the credit assistance you seek from us; - to assist in finding a loan or lease relevant to your circumstances; - verify your identity or protect against fraud; or - to let you know about other products or services that might be suitable for your financial needs. ### How we collect and hold your credit information We will collect your credit information in the course of you answering the enquiries we make of you relating to the credit assistance you seek from us. In addition to what we say above about collecting information from other sources, other main sources for collecting credit information are: - your co-loan applicants or co-borrowers; - your guarantors/proposed guarantors; - your employer, accountant, real estate agent or other referees; - your agents and other representatives like the person who referred your business to us, your solicitors, conveyancers and settlement agents; - organisations that help us to process credit applications; - organisations that check the security you are offering such as valuers; - bodies that issue identification documents to help us check your identity; and - our service providers involved in helping us to process any application you make for credit through us. ### What do we do when we get information we didn’t ask for? Sometimes, people share information with us we haven’t sought out (referred to as **‘unsolicited information’**). Where we receive unsolicited personal information about you, we will check whether that information is reasonably necessary for our functions or activities. If it is, we’ll handle this information the same way we do with other information we seek from you. If not, we’ll ensure we do the right thing and destroy or de-identify it. ### When will we notify you that we have received your information? When we receive personal information from you directly, we’ll take reasonable steps to notify you how and why we collected your information, who we may disclose it to and outline how you can access it, seek correction of it or make a complaint. Sometimes we collect your personal information from third parties. You may not be aware that we have done so. If we collect information that can be used to identify you, we will take reasonable steps to notify you of that collection. ### How do we take care of your personal information? We store information in different ways, including in paper and electronic form. The security of your personal information is important to us and we take reasonable steps to protect it from misuse, interference and loss, and from unauthorised access, modification or disclosure. Some of the ways we do this are: - document storage security policies; - security measures for access to our systems; and - only giving access to personal information to a person who is verified to be able to receive that information We may store personal information physically or electronically with third party data storage providers. Where we do this, we use contractual arrangements to ensure those providers take appropriate measures to protect that information and restrict the uses to which they can put that information. ### What happens when we no longer need your information? We’ll only keep your information for as long as we require it for our purposes. We may be required to keep some of your information for certain periods of time under law. When we no longer require your information, we’ll ensure that your information is destroyed or de-identified. ## How we use your personal information ### What are the main reasons we collect, hold and use your information? Collecting your personal information allows us to provide you with the products and services you’ve asked for. This means we can use your information to: - give you credit assistance; - give you information about loan products or related services including help, guidance and advice; - consider whether you are eligible for a loan or lease or any related service you requested including identifying or verifying you or your authority to act on behalf of a customer; - assist you to prepare an application for a lease or a loan; - administer services we provide, for example, to answer requests or deal with complaints; and - administer payments we receive, or any payments we make, relating to your loan or lease. ### Can we use your information for marketing our products and services? We may use or disclose your personal information to let you know about other products or services we or a third party make available and that may be of interest to you. We will always let you know that you can opt out from receiving marketing offers. With your consent, we may disclose your personal information to third parties for the purpose of connecting you with other businesses or customers. You can ask us not to do this at any time. We won’t sell your personal information to any organisation. **Yes, You Can Opt-Out** You can let us know at any time if you no longer wish to receive direct marketing offers from us. We will process your request as soon as practicable. ### What are the other ways we use your information? We’ve just told you some of the main reasons why we collect your information, so here’s some more insight into the ways we use your personal information including: - telling you about other products or services we make available and that may be of interest to you, unless you tell us not to; - identifying opportunities to improve our service to you and improving our service to you; - allowing us to run our business efficiently and perform general administrative tasks; - preventing any fraud or crime or any suspected fraud or crime; - as required by law, regulation or codes binding us; and - any purpose to which you have consented. **What are the grounds which we will deal with your personal information under the GDPR?** Under the GDPR, we must have a legal ground in order to process your personal information. The legal grounds that we may rely on are:Performance of our contract with you; - Compliance with a legal obligation; - Where you have provided your consent; and - For our legitimate interests: our main legitimate interests for processing your personal information are: fraud, security, due diligence, business operations and direct marketing. ## How long do you keep your information? We are required to keep some of your information for certain periods of time under law, such as the Corporations Act, the Anti-Money Laundering & Counter-Terrorism Financing Act, and the Financial Transaction Reports Act for example. We are required to keep your information for 7 years from the closure of accounts, or otherwise as required for our business operations or by applicable laws. We may need to retain certain personal information after we cease providing you with products or services to enforce our terms, for fraud prevention, to identify, issue or resolve legal claims and/or for proper record keeping. ## Who do we share your personal information with? To make sure we can meet your specific needs and for the purposes described in ‘How we use your personal information’, we sometimes need to share your personal information with others. We may share your information with other organisations for any purposes for which we use your information. ### Sharing Your Information We may use and share your information with other organisations for any purpose described above. ### Sharing with your representatives and referees We may share your information with: - your representative or any person acting on your behalf (for example, lawyers, settlement agents, accountants or real estate agents); and - your referees, like your employer, to confirm details about you ### Sharing with third parties We may share your information with third parties in relation to services we provide to you. Those third parties may include: - the mortgage aggregator through whom we may submit loan or lease applications to lenders or lessors on the mortgage aggregator’s panel; - the Australian Credit Licence holder that authorises us to engage in credit activities; - referrers that referred your business to us; - valuers; - lenders, lessors, lender’s mortgage insurers and other loan or lease intermediaries; - organisations, like fraud reporting agencies, that may identify, investigate and/or prevent fraud, suspected fraud, crimes, suspected crimes, or other misconduct; - government or regulatory bodies (including ASIC and the Australian Taxation Office) as required or authorised by law. In some instances, these bodies may share the information with relevant foreign authorities; - guarantors and prospective guarantors of your loan or lease; - service providers, agents, contractors and advisers that assist us to conduct our business for purposes including, without limitation, storing or analysing information; - any organisation that wishes to take an interest in our business or assets; and - any third party to which you consent to us sharing your information. ### Sharing outside of Australia We may use overseas organisations to help conduct our business. As a result, we may need to share some of your information (including credit information) with such organisations outside Australia. The countries in which those organisations are located are: N/A We may store your information in cloud or other types of networked or electronic storage. As electronic or networked storage can be accessed from various countries via an internet connection, it’s not always practicable to know in which country your information may be held. If your information is stored in this way, disclosures may occur in countries other than those listed. Overseas organisations may be required to disclose information we share with them under a foreign law. In those instances, we will not be responsible for that disclosure. Where we transfer your information from the EEA’ to a recipient outside the EEA we will ensure that an adequate level of protection is in place to protect your personal information such as putting in place contractual protections to ensure the security of your information. ## How do you access your personal information? ### How you can generally access your information We‘ll always give you access to your personal information unless there are certain legal reasons why we can’t. You can ask us in writing to access your personal information that we hold. In some cases we may be able to deal with your request over the phone. We will give you access to your information in the form you want it where it’s reasonable and practical. We may charge you a small fee to cover our costs when giving you access, but we’ll always check with you first. We’re not always required to give you access to your personal information. Some of the situations where we don’t have to give you access include when: - we believe there is a threat to life or public safety; - there is an unreasonable impact on other individuals; - the request is frivolous; - the information wouldn’t be ordinarily accessible because of legal proceedings; - it would prejudice negotiations with you; - it would be unlawful; - it would jeopardise taking action against serious misconduct by you; - it would be likely to harm the activities of an enforcement body (e.g. the police); or - it would harm the confidentiality of our commercial information. If we can’t provide your information in the way you’ve requested, we will tell you why in writing. If you have concerns, you can complain. See ‘Contact Us’. ## How do you correct your personal information? ### How we correct your information Contact us if you think there is something wrong with the information we hold about you and we’ll try to correct it if it’s: - inaccurate; - out of date; - incomplete; - irrelevant; or - misleading. If you are worried that we have given incorrect information to others, you can ask us to tell them about the correction. We’ll try and help where we can – if we can’t, then we’ll let you know in writing. ### What additional things do we have to do to correct your credit information? If you ask us to correct credit information, we will help you with this in the following way. ### Helping you manage corrections Whether we made the mistake or someone else made it, we are required to help you ask for the information to be corrected. So we can do this, we might need to talk to others. However, the most efficient way for you to make a correction request is to send it to the organisation which made the mistake. ### Where we correct information If we’re able to correct the information, we’ll let you know within five business days of deciding to do this. We’ll also let the relevant third parties know as well as any others you tell us about. If there are any instances where we can’t do this, then we’ll let you know in writing. ### Where we can’t correct information If we’re unable to correct your information, we’ll explain why in writing within five business days of making this decision. If you have any concerns, you can access our external dispute resolution scheme or make a complaint to the Office of the Australian Information Commissioner. ### Time frame for correcting information If we agree to correct your information, we’ll do so within 30 days from when you asked us, or a longer period that’s been agreed by you. If we can’t make corrections within a 30 day time frame or the agreed time frame, we must: - let you know about the delay, the reasons for it and when we expect to resolve the matter; - ask you to agree in writing to give us more time; and - let you know you can complain to our external dispute resolution scheme or the Office of the Australian Information Commissioner. ## How do you make a complaint? ### How do you generally make a complaint? If you have a complaint about how we handle your personal information, we want to hear from you. You are always welcome to contact us. You can contact us by using the details below - Online: [www.oceanhomeloans.com.au/contact-us](https://www.oceanhomeloans.com.au/contact-us/) - Phone: 07 5593 1420 - Email: info@oceanhomeloans.com.au - Fax: 07 5593 1460 - Mail: 21 Port Jackson Boulevard, Clear Island Waters, Qld, 4226 - Person: Bradley John Kirwan We are committed to resolving your complaint and doing the right thing by our customers. Most complaints are resolved quickly, and you should hear from us within five business days. ### Need more help? If you still feel your issue hasn’t been resolved to your satisfaction, then you can raise your concern with the Office of the Australian Information Commissioner: - Online: [www.oaic.gov.au/privacy](https://www.oaic.gov.au/about-us/corporate-information/key-documents/privacy-policy-summary) - Phone: 1300 363 992 - Email: enquiries@oaic.gov.au - Fax: +61 2 9284 9666 - Mail: GPO Box 5218 Sydney NSW 2001 or GPO Box 2999 Canberra ACT 2601 If you are located in the EEA, you can contact the relevant data protection authority (for example in the place you reside or where you believe we breached your rights). For example, the Office of the UK Information Commissioner: Office of the UK Information Commissioner - Online: [www.ico.gov.uk](https://ico.org.uk/) - Phone: 0303 123 1113 - Live chat: https://ico.org.uk/global/contact-us/live-chat What additional things do we have to do to manage your complaints about credit information? If your complaint relates to how we handled your access and correction requests You may take your complaint directly to our external dispute resolution scheme or the Office of the Australian Information Commissioner. You are not required to let us try to fix it first. ### For all other complaints relating to credit information If you make a complaint about things (other than an access request or correction request) in relation to your credit information, we will let you know how we will deal with it within seven days. ### Ask for more time if we can’t fix things in 30 days If we can’t fix things within 30 days, we’ll let you know why and how long we think it will take. We will also ask you for an extension of time to fix the matter. If you have any concerns, you may complain to our external dispute resolution scheme or the Office of the Australian Information Commissioner. ### Letting you know about our decision We’ll let you know about our decision within 30 days or any longer agreed time frame. If you have any concerns, you may complain to our external dispute resolution scheme or the Office of the Australian Information Commissioner. ## Your Rights under GDPR If you reside in the EEA, you can also: - object to the processing or your personal information or ask us to delete, or restrict or stop using your personal information. There may be circumstances where we are required to, or entitled to retain or continue using your information. - withdraw your consent to our processing of your information. We may continue to process our information if we have another legitimate ground to do so. - ask us to send an electronic copy of your personal information, including to another organisation. You can contact us if you wish to exercise these rights. See ‘Contact Us’ for more information If we refuse any request you make in relation to these rights, we will write to you to explain why and how you can make a complaint about our decision. ## Contact Us We care about your privacy. Please contact us if you have any questions or comments about our privacy policies and procedures. We welcome your feedback. You can contact us by using the details below: - Online: [www.oceanhomeloans.com.au/contact-us](https://www.oceanhomeloans.com.au/contact-us/) - Phone: 07 5593 1420 - Email: info@oceanhomeloans.com.au - Fax: 07 5593 1460 - Mail: 21 Port Jackson Boulevard, Clear Island Waters, Qld, 4226 - Person: Bradley John Kirwan What if you want to interact with us anonymously or use a pseudonym? If you have general enquiry type questions, you can choose to do this anonymously or use a pseudonym. We might not always be able to interact with you this way, however, as we are often governed by regulations that require us to know who we’re dealing with. In general, we won’t be able to deal with you anonymously or where you are using a pseudonym when: - it is impracticable; or - we are required or authorised by law or a court/tribunal order to deal with you personally. ### What do we do with government-related identifiers? In certain circumstances we may be required to collect government-related identifiers such as your tax file number. We will not use or disclose this information unless we are authorised by law. ### Changes to this Privacy Policy This Policy may change. We will let you know of any changes to this Policy by posting a notification on our website, correspondence via post or e-mail or you may contact us for a copy of the most up to date policy at any time/ or specify other method. However we’ll never ask you for your security details in this way – if you are ever unsure, just contact us --- ### [Bad Credit Home Loans - What is a Bad Credit Home Loan?](https://www.oceanhomeloans.com.au/home-loans/bad-credit-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** **Bad Credit Home Loans** also known as non-conforming loans, credit impaired loans or specialist loans, are mortgage loans for borrowers who may have unique financial circumstances which mean they are unlikely to meet or conform to the rules of traditional home loan lenders. Bad Credit Home Loans are generally for borrowers who may have: - An adverse credit history - Existing home loan arrears - Credit card or personal loan arrears or defaults - Too many debts and are finding it difficult to consolidate - Been declined by another lender ## What is considered to be bad credit? There are many different types of bad or impaired credit. The main types are: - **Mortgage arrears:** Missed payments on your home loan. The more the number of missed payments you have had in the last 6 months then the more wary lenders will be. Generally, banks will not refinance your home loan if you have missed just one repayment! - **Bad credit history:** Adverse listings such as defaults, bankruptcy, judgments, court writs or too many credit enquiries on your Veda Advantage credit file can make your application doubtful. - **Lender credit history:** Your past credit history with the lender you are applying for. Lenders have a very long-term memory for the customers they have had problems with in the past. - **Unpaid bills or tax:** Outstanding bills such as council rates, late tax bills or arrangements with the [ATO](https://www.ato.gov.au/) to pay overdue tax bills, are a type of bad credit history that may not initially show up on your credit file but may be visible on the supporting documents you need to provide. - **Over committed:** If you have too many debts for your income or your total assets are less than your total liabilities then the major banks may assess you as being insolvent or beyond help. ## I have bad credit but exactly what does it mean? Lenders are wary of those who do not pay their defaults or those who keep having ongoing credit problems. Your bad credit history will place you in one or more of the following categories: - **Small paid default:** If you have a small default for less than $500 and it has been paid more than six months ago then we can help you borrow up to 95% of the property value for a purchase and 90% for a refinance. - **More than one small paid default:** If you have less than $1,000 in paid defaults from financial institutions (e.g. banks) and less than $500 in paid defaults from non-financial institutions (e.g. phone companies) then you can borrow up to 95% of the property value for a purchase and 90% for a refinance. - **Moderate paid defaults:** If you have up to $3,000 in paid defaults we can help you borrow up to 80% of the property value with a prime lender and up to 95% of the property value for a purchase and 90% for a refinance. - **Large paid defaults:** Larger paid defaults from $3,000 to $500,000 can be considered on a case by case basis if you have a very good explanation which is backed up with strong evidence. We can arrange finance up to 95% of the property value for a purchase and 90% for a refinance. - **Unpaid defaults:** If you have any unpaid defaults then you can only borrow 90% of the property value, this is with a specialist lender. You will be required to pay the defaults before the loan is approved for purchases or from the loan for refinances. - **Judgements / court writs:** If you have any judgements / court writs then you can borrow 95% of the property value for a purchase and 90% for a refinance, this is again, with a specialist lender. - **Part IX agreement:** You can refinance your current mortgage to pay out your agreement. You must be in the agreement for a minimum of 12 months and your repayments for the agreement & existing home loan must be perfect. - **Bankruptcy:** You must be discharged, then you can borrow 95% of the property value, this is again, with a specialist lender. [](https://www.oceanhomeloans.com.au/enquire-online) Bad credit home loans are generally for people who have had unfortunate events such as a divorce, loss of job, injury or business failure which has resulted in adverse entries on their credit file, in most cases there is a compelling reason as to why you have defaulted. Ocean Home Loans mortgage brokers are experts in bad credit home loans, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get you approved for a bad credit home loan, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## How do specialist lenders work? Specialist lenders are far more flexible than the major banks. The interest rates that are offered reflect the risk to the lender. Therefore, the higher the risk that your loan presents to the lender then the higher the interest rate you will be charged. Specialist lenders will assess your bad credit home loan application on a case by case basis and listen to your explanation as to how you arrived in this situation and why you need debt relief. These lenders can often rapidly approve bad credit home loans to meet deadlines from your creditors. - Generally if you are borrowing below 80% of the property value then you can get a cheaper interest rate - For those looking to borrow over 80% or have had severely impaired credit histories, then the rate will be higher ## Are there Low Doc Bad Credit Home Loans? bad credit home loan lenders are flexible with self-employed borrowers who need a **Low Doc Home Loan** because they cannot prove their income using financials and tax returns. In some cases, they can help start-up businesses for people who have an ABN that has been active or GST registered for less than 2 years. They can accept Low Doc Home Loans with an unpaid default, mortgage arrears, judgement and even discharged bankruptcy. Usually, you will sign an income declaration or provide an accountants letter to prove your income. **Note**: You can usually only borrow up to 60% of the property value. In stronger cases, 80% may be considered. This is likely with a specialist lender at a higher interest rate. Ocean Home Loans mortgage brokers are experts in bad credit home loans, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get your approved for a bad credit home loan, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## What are the benefits of debt consolidation? By rolling all of your debts into one easy repayment each month it will be easier to manage your repayments and it will reduce your overall repayments. This will prevent further damage to your credit history and you can stop your bank from repossessing your home. Now, you have a “way out” instead of fighting to keep your head above water.[](https://www.oceanhomeloans.com.au/enquire-online) ## What is a possible drawback of debt consolidation? A possible drawback of debt consolidation is that you may have to pay a higher interest rate on your home loan, however overall your repayments will usually be lower. If you do get into financial trouble again in the future then a specialist lender would normally take legal action against you faster than a bank would. We strongly recommend that you do all you can to make your mortgage repayments on time, every time. ## Solution focused lending The idea of home loans for people with bad credit is to be a short to medium term fix, not a long-term solution such as a second mortgage. It is often much cheaper to pay a higher interest rate for a few years than it is to sell your home and then buy a new one later. The cost of selling then buying is often more than 8% of the property value. We always set up Bad Credit Home Loans with the intent of refinancing back to a prime lender in around 2 to 3 years’ time, when your credit history is clear again, to help you make a fresh start and allow you to keep your home. You can have a 25 or 30 year loan term that way you are never forced to refinance in a particular time frame, which prevents people from being caught out if their personal situation changes. Ocean Home Loans mortgage brokers strongly believe in the principles of responsible lending, our aim is to provide you with the solution to enable you to overcome a distressing financial situation if possible and place you on the path to financial security. You will need to repay your bad debts; clean up your credit file and then once you have a proven track record of repayments on your mortgage with no arrears you can refinance to a better interest rate. Contact Ocean Home Loans today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can help your financial recovery, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options for bad credit home loans. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Investment Home Loans - Maximise Your Borrowing Capacity](https://www.oceanhomeloans.com.au/home-loans/investment-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** When it comes to making a property investment, finding the right investment home loan is essential and maximizing your borrowing capacity is extremely important. Whether you are a first-time property investor or are looking to build on your existing portfolio, you will want to make sure you remain organised and find the right financial products to suit your needs. This is where Ocean Home Loans mortgage brokers can provide valuable support. In addition to helping you find the best investment mortgage to suit your needs, we can also help you through every step of the organisation process, from managing your loan structuring, as well as cash flow. ## Finding you the Right Investment Home Loans There are a huge range of investment property home loans to choose from, which is why advice from an expert is crucial. Your investment mortgage options are manyfold, and with so many options, it can be difficult to know where to start. Investment home loans borrowers can choose from a wide selection of home loan types, such as: - [Basic Home Loans](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans") - [Professional Package Home Loans](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/) - [Fixed Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans") - [Self Employed Home Loans](https://www.oceanhomeloans.com.au/home-loans/self-employed-home-loans/ "Self Employed Home Loans") - [Low Doc Home Loans](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans "Low Doc Home Loans") - [Combination or Split Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans") - [100% Offset Account Home Loans](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") - [Construction Home Loans](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/ "Construction Home Loans") This is where Ocean Home Loans mortgage brokers can help. Ocean Home Loans mortgage brokers can take the hassle out of your **investment home loans** search, finding the products that suit your needs and save you hours of reading and research time. [](https://www.oceanhomeloans.com.au/enquire-online) Speaking to an Ocean Home Loans mortgage brokers can help you identify the issues that are most important to you. By helping you identify your individual investment home loan priorities, as well as the investment mortgage that is most suited to your individual circumstances, Ocean Home Loans mortgage brokers can help you find the ideal loan for your needs. Ocean Home Loans mortgage brokers are experts in investment home loans. Please call us on **07 5593 1420** and we can discuss your options with you, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your needs and requirements. ## What can you use the loan for? All worthwhile investment purposes are acceptable, an investment mortgage can be used to invest in property, shares, managed funds, options or business. The interest rate on a residentially secured investment home loan is cheaper than a margin loan, by using your home or investment property as security you can avoid margin calls and save on interest. Some banks have restrictive policies with regards to the amount of cash they will release, this may limit your share market investing, so please talk to us on **07 5593 1420** to find out which lenders can help with your investment mortgage, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. As long as you are aware of the risks associated with your investment opportunities, we can help you apply for an investment home loan for any worthwhile purpose. *We recommend that you seek independent financial advice before borrowing to invest. **Ocean Home Loans Mortgage Brokers** actively seek to work in conjunction with your professional advisers, such as your accountant, financial adviser or lawyer, to help you obtain the ideal structure for your investment needs.* If you think that an investment home loan is appropriate for you then please call us now on **07 5593 1420** or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## What type of property is acceptable? Not every type of property is acceptable to the banks. As a general rule your property should meet the below criteria: - Be a standard unit, house, townhouse or land and construction - Be greater than 50 square metres living area - Be in a good condition - Be located in a high demand location (major city or town with more than 10,000 people) [](https://www.oceanhomeloans.com.au/enquire-online) ## Increasing your Borrowing Capacity All banks treat an investment home loan assessment differently, some of the most common differences are: - **Negative gearing:** Not all lenders utilise negative gearing benefits when assessing your borrowing capacity. Only if your portfolio is positively geared would you consider one of these lenders, Ocean Home Loans mortgage brokers know which lenders utilise the benefits of negative gearing. - **Rental income:** Depending on the bank, you will be able to use between 75% and 100% of the rental income in their servicing assessment, Ocean Home Loans mortgage brokers know which lenders use the full 100% of rental income. - **Borrowing Capacity:** It is possible to increase your maximum loan amount with several banks by choosing a fixed rate investment home loan of 3 years or greater, Ocean Home Loans mortgage brokers know which lenders assess your application differently for fixed rate investment mortgages of 3 years or greater. - **Extra income:** All banks differ in the way that they assess overtime, bonuses, commission, allowances, trust distributions, dividends & self-employed income. Ocean Home Loans mortgage brokers know which lenders to use to maximise the assessment of any extra income. ## Apply for an Investment Home Loan today! The right investment home loan really depends on your particular financial goals. There are many different borrowing options and strategies available. Talk to us today and find the best deal out there that suits your situation. Ocean Home Loans mortgage brokers know which lender can maximise your borrowing capacity and approve your loan application, if you would like to find out what your maximum loan amount is for an investment home loan from a range of different lenders then please call us now on **07 5593 1420** to discuss your options or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [First Home Buyer Home Loans - Which Home Loan Is Right For Me?](https://www.oceanhomeloans.com.au/home-loans/first-home-buyer-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** ****With so many different home loans on the market, finding a loan that is suitable for you as a **first home buyer** is not as simple as it used to be, there are a range of loans available to you that may save you money, provide you with greater flexibility and peace of mind. Ocean Home Loans mortgage brokers use their expertise and experience in the home loan market coupled with a unique computer software program to enable them to compare hundreds of loans in a matter of minutes. We then provide you with a short list of loans that are both competitive and suitable – simplifying the loan selection process. As a first time buyer you can choose from a wide selection of home loan types, such as: - [Basic Home Loans](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans") - [Professional Package Home Loans](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans") - [Fixed Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans") - [Family Pledge / Guarantor Support Home Loans](https://www.oceanhomeloans.com.au/home-loans/family-pledge-guarantor-home-loans/ "Family Pledge Guarantor Home Loans") - [Self Employed Home Loans](https://www.oceanhomeloans.com.au/home-loans/self-employed-home-loans/ "Self Employed Home Loans") - [Low Doc Home Loans](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans/ "Low Doc Home Loans") - [Combination or Split Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans") - [100% Offset Account Home Loans](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") - [Construction Home Loans](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/ "Construction Home Loans") ## How Much Do I Need To Save For A Deposit? The amount you need as a deposit will depend on the type of loan and the lender you select. Generally as a first home buyer you will require a minimum of 5% of the property value. ## What if I Don’t Have a Deposit? Don’t have a deposit, we are expert mortgage brokers in [Family Pledge Guarantor](https://www.oceanhomeloans.com.au/home-loans/family-pledge-guarantor-home-loans/ "Family Pledge Guarantor Home Loans") supported loans and will help you find the most suitable loan for a first home buyer as well as discuss various options with you to protect the guarantor. Please call us on **07 5593 1420** to discuss if this type of loan is appropriate for you and which type of guarantee is required to get your loan approved, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## How Much Can I Borrow? How much you can borrow, also known as your borrowing capacity, will depend on how much of a deposit you have, your current income and what expense commitments you have. It will also vary from lender to lender. [](https://www.oceanhomeloans.com.au/enquire-online) ## Am I Eligible For The First Home Owners Grant? This one-off grant is available in certain states for the first home buyer intending to live in the home they are buying. Basically, you are eligible if you are an Australian citizen or a permanent resident who is buying or building your first home in Australia and intend to occupy it as your principal place of residence within 12 months of settlement. Note that if you are purchasing the property in conjunction with others, they must also meet the same criteria for the first home buyer grant to be available. Ocean Home Loans mortgage brokers can help you access any available grants each state is offering. ## What Will My Repayments Be? It is one thing to work out how much you can borrow, but you need to know if you can afford the repayments. Ocean Home Loans mortgage brokers will fully analyse your monthly income & expenditure to ensure you can comfortably meet your proposed borrowing commitments. Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on first home buyer home loans, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## How Much Do I Need To Set Aside For Stamp Duty as a First Home Buyer? Stamp duty is a tax levied on the purchase of a property. It is calculated according to the purchase price of the property and the state or territory the property is situated in. In most states the first home buyer generally doesn’t have to pay stamp duty. ## What Other Expenses Will I Need To Pay? As a rough guide, you should budget for between 1-2% of the purchase price, in addition to your deposit, to cover fees and charges. The balance may include; - Building and pest reports - Valuation fees - Lenders mortgage insurance (LMI) - Solicitors fees - Insurances - Utility connection fees? Phone / gas / electricity - Council and water rates - Removalist costs Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on first home buyer home loans, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Family Pledge Guarantor Home Loans - How to get a No Deposit Home Loan](https://www.oceanhomeloans.com.au/home-loans/family-pledge-guarantor-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** **Family pledge guarantor home loans** are now one of the only ways to borrow the full purchase price of a home, true No-deposit mortgages are no longer available, however with the help of a guarantor you can borrow over 100% of the purchase price which will allow you to buy a home and pay for purchasing costs such as conveyancing & registration fees. There are many differences between the guarantor supported loans offered by the banks & lenders, Ocean Home Loans mortgage brokers are experts in family pledge & guarantor mortgages. Please call us on **07 5593 1420** so we can find the most suitable loan for your particular situation, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## How much can I Borrow? Most lenders will cap the loan amount at 100% of the purchase price for Family Pledge Guarantor Home Loans or will require that you have saved a small deposit. Some of our lenders are happy to consider lending 105% of the purchase price, which allows you to buy a property and pay for the purchase costs without any savings whatsoever. Do you qualify for a mortgage to buy a home with no deposit? Please call Ocean Home Loans mortgage brokers on **07 5593 1420** to find out how we can help you, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## What are the benefits of Family Pledge Guarantor Home Loans? All banks consider borrowings of more than 80% of the value of a property to be a higher risk than below 80%, they strongly believe that they will lose money if you fail to make your repayments. Because of this they charge you a fee known as Lenders Mortgage Insurance (LMI), this protects the banks from making a financial loss. The fee for Lenders Mortgage Insurance (LMI) can be quite substantial, therefore by utilising the benefits of Family Pledge Guarantor Home Loans you can borrow the full purchase price plus costs and not have to pay the Lenders Mortgage Insurance (LMI) fee. Our mortgage brokers are experts in Family Pledge Guarantor mortgages, so please call us on **07 5593 1420** and we can discuss your options with you, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. [](https://www.oceanhomeloans.com.au/enquire-online) ## What types of guarantees are there? - **Security guarantee:** With this type of guarantee the guarantor uses real estate that they own as additional security for your loan. If the guarantor already has a loan on their property, then in most cases the bank can take a second mortgage as security. This type of guarantee is most often used when first home buyers are buying a home, have an excellent income, but no deposit. - **Family guarantee:** This is the name given for when the guarantor is directly related to the borrowers. Grandparents, siblings and other family members as guarantors can be considered on a case by case basis. - **Limited guarantee:** A limited guarantee is where only part of the loan is guaranteed by the guarantor. This is most often used with security guarantors so as to reduce the potential liability secured on the guarantor’s property. Guarantees can be either be limited or unlimited, depending on both the guarantor’s wishes and the lender’s requirements. ## You need to talk to an expert Family pledge guarantor home loans are by nature more complex to negotiate than non-guaranteed mortgages. Using an expert mortgage broker to help structure the correct loan for you is imperative. Lenders have more stringent requirements in place for loan approvals, especially for family pledge guarantor home loans, and an expert mortgage broker will understand which banks will work with guarantor loans. Similarly, the terms and conditions vary from lender to lender, and not all banks will allow limited guarantees. This puts the guarantor at much higher risk than they may be comfortable with, jeopardizing the entire process. Ocean Home Loans mortgage brokers can assist with guidelines to help get the guarantee removed more quickly, via additional payments to accelerate the loan or by refinancing into a different home loan once sufficient equity has been built up in the property. Finally, Ocean Home Loans mortgage brokers can advise on the correct insurances to be obtained to limit the risk to your guarantor, increasing the likelihood that the loan will be approved. Please call us on **07 5593 1420** so we can find the most suitable loan for your particular situation, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. [](https://www.oceanhomeloans.com.au/enquire-online) ## Can anyone be a guarantor? Most banks will only allow parental guarantees, i.e. a guarantee from the borrower’s parents. Some lenders can consider guarantees from immediate family members such as siblings, grandparents, spouses, de facto partners or adult children. This is because banks want to make sure that the guarantor has a strong relationship with you. ## How much is the guarantee limited to? In all cases Ocean Home Loans mortgage brokers will look to use only those banks that offer a limited guarantee secured on the guarantor’s property. This means your guarantor is not liable for the entire amount of the loan, only a portion of it. The size of the limited guarantee can be calculated as follows: *Size of the limited guarantee = (Loan amount / 0.8) – value of the property the borrower is buying.* For example if you are buying a property for $250,000 and are borrowing $262,500 to cover your expenses such as conveyancing & registration fees then the calculation would be: *Guarantee Amount = ($262,500/0.8) – $250,000* *Guarantee Amount = $328,125 – $250,000 = $78,125* How do lenders work out if your guarantor has enough equity in their property? The total debt secured on the guarantors property, for example their current home loan plus the new limited guarantee, must be less than 80% of the value of their property. For example, if your guarantor had a home loan with $125,000 owing and they needed to give a limited guarantee of $78,125 then the total debt secured on their property would be $193,750. Their home must be worth $254,000 or more for the guarantor loan to be approved. ## Can I get a 100% Construction Loan? Yes, it is possible to borrow 100% of the land and construction costs if you have a guarantor. You need to be aware that in most cases you will need to have both the land & construction contracts in place first, most lenders do not allow increases to family pledge guarantor mortgages, so purchasing and settling the land first could mean that when you obtain your fixed price building contract the lender will not be able to advance any further funds. Our mortgage brokers are experts in Family Pledge Guarantor supported [Construction Home Loans](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/), so please call us on **07 5593 1420** if you are thinking of using a guarantor for your construction loan, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. [](https://www.oceanhomeloans.com.au/enquire-online) ## **When can I remove the guarantee?** The typical buyer will be able to remove the guarantee in 2 to 5 years after purchase, though your experience may be different. Property appreciation and extra repayments will help to dramatically speed up the time required to reduce the mortgage, however below 80% is preferred as this negates the requirement to pay Lender Mortgage Insurance (LMI) As part our ongoing service to you Ocean Home Loans mortgage brokers will always be available to assist with the necessary documentation to have the guarantee removed. ## Get legal and financial advice before becoming a guarantor Guaranteeing somebody else’s loan is a major commitment, so seeking advice from the appropriate professionals such as your solicitor & or accountant before deciding to proceed is of the utmost importance. ## Apply for Family Pledge Guarantor Home Loan with a guarantor’s support Our mortgage brokers are experts in family pledge guarantor home loans and will help you find the most suitable loan as well as discuss various options with you to protect you & your guarantor. Please call us on **07 5593 1420** to discuss if this type of loan is appropriate for you and which type of guarantee is required to get your loan approved, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Home Loans for Doctors & Medical Professionals](https://www.oceanhomeloans.com.au/home-loans/home-loans-for-doctors/) **Published:** May 20, 2018 **Author:** Brad Kirwan **Content:** Home Loans for Doctors are specialised home loans for doctors & medical professionals that offer a range of attractive discounts, including waived fees, lower interest rates, higher loan-to-value ratios (LVRs) and the ability to avoid lenders’ mortgage insurance (LMI) payments. ## Some of the advantages of Home Loans for Doctors - No LMI on mortgages up to 90% of the property value and more in some cases, lenders will usually charge Lenders Mortgage Insurance (LMI) if you don’t have a 20% deposit. As a medical professional you can have this waived for loans up to 90% of the total property value. - Discounted interest rates. if you are borrowing less than 90% of the property value, you can get a loan with discounted interest rates that are not available to the average home buyer. - Higher borrowing amounts, subject to affordability, medical professionals can obtain higher loan amounts on a single security, in some cases up to $4.5 Million. - No genuine savings required, there is no requirement for you to evidence that your funds to complete have been held in a bank account for 3 or more months. - Under certain circumstances you may be eligible to borrow the full 100% of the purchase price of the property, this is subject to very special conditions and is not available for all doctors. - If purchasing medical equipment for your practice, this can normally be done at the full cost of the equipment, with no further security required. - Newly arrived in Australia and on a temporary visa, such as a class [457 visa](https://www.oceanhomeloans.com.au/home-loans/457-visa-home-loan-for-temporary-australian-residents/), not a problem, you can also take advantage of the **home loans for doctors** benefits, however you are still subject to the rules set down by the Foreign Investment Review Board, so you still need to seek FIRB approval and you will also be liable for any Additional Foreign Acquirer Duty that may apply, this varies from state to state. [](https://www.oceanhomeloans.com.au/enquire-online) ## How do you qualify? Very simply, to qualify, you must be working in one of the eligible professions and be a member of one of the eligible associations to take advantage of the home loans for doctors benefits. ### The following is a list of acceptable Medical Professionals: - Academic Pharmacist - Anaesthetist - Anesthesiologist - Animal chiropractor - Cardio Thoracic Surgeon - Cardiologist - Cardiothoracic Surgeon - Chiropractor - Clinical Pharmacologist - Clinical Pharmacy Specialist - Community Pharmacist - Compounding Pharmacist - Consultant Pharmacist - Cosmetic Surgeon - Dental Specialist - Dentist - Dermatologist - Doctor - Drug Information Pharmacist - Ear and Throat Surgeon - Emergency Doctor - Emergency Medicine Specialist - Emergency Surgeon - Endocrinologist - Epidemiologist - Gastro Intestinal Surgeon - Gastroenterologist - General Practitioner (GP) - General Surgeon - GP Registrar - Gynaecologist - Haematologist - Heart Doctor - Heart Surgeon - Hepatologist - Herpetologist - Home Health Pharmacist - Hospital Pharmacist - Hospital-employed doctors - House Medical Officer - Immunologist - Industrial Pharmacist - Informatics Pharmacist - Intern doctor (internship) - Junior Medical Officer - Kinesiologist - Locum Pharmacist - Managed Care Pharmacist - Maxillofacial Surgeon - Medical Administrator - Medical Practitioner - Medical Registrar - Military Pharmacist - Nephrologist - Neurologist - Neurophysiologist - Neurosurgeon - Nuclear Pharmacist - Obstetrician - Oncologist - Oncology Pharmacist - Ophthalmologist - Optometrist - Oral and Maxillofacial Surgeon - Oral Surgeon - Orthodontists - Orthopaedic Registrar - Orthopaedic Surgeon - Otolaryngologist - Paediatric Surgeon - Paediatrician - Pathologist - Pharmacist - Pharmacist Clinical Pathologist - Pharmacist Clinical Toxicologist - Pharmacist prescriber - Physician - Physiotherapist - Plastic Surgeon - Psychiatrist - Radiation Oncologist - Radiologist - Reconstructive Surgeon - Regulatory-Affairs Pharmacist - Resident doctor (residency) - Resident Medical Officer - Respiratory Surgeon - Respiratory/Thoracic Surgeon - Rheumatologist - Specialist Physician - Sports chiropractor - Surgeon - Surgical Registrar - Thoracic Surgeon - Urologist - Vascular Surgeon - Veterinarian - Veterinary Pharmacist ### The following is a list of acceptable associations of which you must be a member: - Australasian College for Emergency Medicine (ACEM) - Australasian College of Cosmetic Surgery (ACCS) - Australasian College of Dermatologists (ACD) - Australian Association of Practice Managers - Australian College of Rural and Remote Medicine (ACRRM) - Australian Dental Association (ADA) - Australian Dental Council (ADC) - Australian Medical Association (AMA) - Australian Medical Council (AMC) - Australian Veterinary Association - Australian Veterinary Business Association - College of Intensive Care Medicine of Australia and New Zealand (CICM) - Medical Practitioners Board of Australia - Optometrists Association Australia - Royal Australasian College of Dental Surgeons (RACDS) - Royal Australasian College of Medical Administrators (RACMA) - Royal Australasian College of Physicians (RACP) - Royal Australasian College of Surgeons (RACS) - Royal Australian and New Zealand College of Obstetricians and Gynaecologists (RANZCOG) - Royal Australian and New Zealand College of Ophthalmologists (RANZCO) - Royal Australian and New Zealand College of Psychiatrists (RANZCP) - Royal College of Pathologists of Australasia (RCPA) - The Australia and New Zealand College of Anaesthetists (ANZCA) - The Royal Australian and New Zealand College of Radiologists (RANZCR) - The Royal Australian College of General Practitioners (RACGP) - Urological Society of Australia and New Zealand (USANZ) ## Apply for a Medical Professional Home Loan Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on Medical Professional home loans for doctors, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Fixed Interest Rate Home Loans - Should I Fix my Home Loan?](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** **Fixed interest rate home loans** are home loans that lock in the interest rate of your home loan so that your repayments don’t change for the period selected. Typically a fixed rate home loan is for a period of between 1 and 5 years. When the fixed rate period expires you can choose to re-fix again, roll-over to the lenders Standard Variable Rate for the remainder of the loan term or refinance to another lender for a better rate. This is one of the most difficult decisions home loan borrowers are faced with. If you are in this situation, it is important for you to educate yourself on what fixing your home loan means for your future repayments, of course, everyone wants to save as much as they can on their home loan. The choice is ultimately yours. ## What are the benefits of Fixed Interest Rate Home Loans? Fixed interest rate home loans offer financial stability, they provide you with the security of knowing exactly what your repayments will be for a given period of time, giving you peace of mind and the ability to budget. A fixed rate home loan can be advantageous if variable interest rates rise. [](https://www.oceanhomeloans.com.au/enquire-online) ## Knowing when to Fix Choosing the right loan is a great start, but what is the point if you lock yourself in when interest rates are high only to see the reserve bank cut interest rates? By fixing when interest rates are low you will protect yourself from potential financial market volatility. Most people however fix when rates are high, fearing that they could go even higher, not out of a rational decision to look at the overall term of the loan and what rates are likely to average over that entire period. Remember 3 or 5 years is a very long time! ## Why not to Fix Fixed interest rates can have high exit fees called “economic break costs” or do not allow you to make large additional repayments, when you fix your home loan you are entering into a contract with the lender, if you break the contract you will have to pay the bank any loss that they incur, this amount could be considerable, depending on the size of your loan, the term remaining of the fixed rate and the difference between interest rates when you took out the loan and the current interest rates. **DO NOT** fix your rate if you are planning to: - Sell your property - Make a large lump sum repayment - Refinance your home loan Applying for a **[Combination or Split Rate Home Loan](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans")** may help if you are planning to make extra repayments, however this will not help if you are selling or **refinancing** as you would still incur large exit fees. ## Can I make extra repayments? Yes you can, but be aware that there are restrictions placed on the amount of extra repayments you can make and each lender’s criteria is different. For example: - **ANZ**: $5,000 per annum - **CBA:** $10,000 per annum - **NAB:** $20,000 during the term of the fixed rate So the difference between **CBA** & **NAB** over a 5 year fixed rate could be $30,000 in allowable extra repayments. Of course, there are many more lenders, but all but one or two have restrictions of a similar nature. Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on fixing your home or investment loans, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. [](https://www.oceanhomeloans.com.au/enquire-online) ## Find the cheapest Fixed Interest Rate Home Loans Our mortgage brokers have specialised software that can quickly find and compare the cheapest fixed interest rate home loans. Whatever your reason, Ocean Home Loans mortgage brokers can help you save on interest, improve your cash flow and tailor a product to suit your current needs, so contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. *Please keep in mind that if you fix your home loan and then interest rates drop, you cannot switch back to a variable rate without paying a large exit fee.* ## What else should I Consider? The interest rate that applies to fixed interest rate home loans is the rate that applies on the day that the bank applies the changes to your existing loan or the day that the loan is advanced, if refinancing or settled if purchasing. Great news if rates go down but hardly what you were looking for if rates go up. By paying a fixed interest rate lock in fee you can secure the rate that applies on the day of your application. This fee ranges from $395 to $695 to 0.15% of the loan amount, by doing this you are protected from rate rises. Rate lock is generally available for a maximum of 90 days (depending on the lender). Ocean Home Loans mortgage brokers have access to several lenders that lock the rate in at application for free. ## Get the right Fixed Interest Rate Home Loans advice We recommend that you should always keep your financial goals and priorities in mind when making a decision on your home loan and seek independent financial advice before applying for a fixed interest rate. Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on fixing your home or investment loans, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Self Employed Home Loan - What makes you Different?](https://www.oceanhomeloans.com.au/home-loans/self-employed-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** Well, fundamentally you’re not, unfortunately the banks think you are and they can make it hard for you to obtain a **Self Employed** Home Loan, whether you are a sole trader, company, partnership or trust. They require signed tax returns, notices of assessment and letters from your accountant and if you don’t have the latest two years available it can make applying for a self employed home loan incredibly difficult. But not all banks have the same requirements for self-employed applicants looking for a self-employed home loan. Self-Employed borrowers can choose from a wide selection of home loan types, such as: - [Basic Home Loans](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans") - [Professional Package Home Loans](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans") - [Fixed Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans") - [Low Doc Home Loans](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans "Low Doc Home Loans") - [Combination or Split Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans") - [100% Offset Account Home Loans](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") - [Construction Home Loans](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/ "Construction Home Loans") ## How long must I be Self-Employed? The vast majority of lenders require you to be self-employed for a minimum of two years, however some can consider people who have been self-employed for only one year! ## What if I’ve been self-employed for one to two years? We do have a lender on our panel who will accept people who have been self-employed for between one and two years, your business will need to be very similar if not exactly the same line of work you performed before you became self-employed and you will have to provide one year’s financials for the new business. For example, you were previously full-time employed as an electrician and you have now started your own electrical contracting business, as long as you have been operating at least one year. If you have been self-employed for greater than one year, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get you approved for a self-employed home loan or self-employed [investment loan](https://www.oceanhomeloans.com.au/home-loans/investment-home-loans/ "Investment Home Loans"), or [enquire online](https://www.oceanhomeloans.com.au/ "Contact Us") and we will contact you as soon as possible to discuss your options. [](https://www.oceanhomeloans.com.au/enquire-online) ## So how is my income calculated? If you were a permanent employee a bank would look at your most recent pay slips and know what you future income will be, for the self-employed when applying for a self-employed home loan most lenders will look at your previous 2 years of tax returns, profit & loss statements and balance sheets to assess what your income was and how stable your business will be in the future. Banks like stability, if your income has varied greatly over the past 2 years they want to know why. For example: - Only use the lower-income figure for the last two years - Only use the most recent year’s income - Use the average of the two years income - If there has been a large increase in income from the previous year to the most recent year’s income only allow 120% of the lowest year’s income - Allow or disallow certain expenses to be added back to the income on your tax returns All of the above can have a significant impact on your borrowing capacity. Most importantly, all lenders interpret your tax returns differently. ## What is an “add back”? Your taxable income isn’t the same as your actual income that can be used to assess your capacity to meet your commitments, including the repayments for any new loans. Therefore some lenders add back any expenses incurred that reduced your taxable income. *By adding back expenses you can increase your assessable income and your* [*borrowing capacity*](https://www.oceanhomeloans.com.au/borrowing-capacity/ "How Much Can I Borrow – Calculate your borrowing power!") *!* Some examples of add backs are: - **Depreciation:** Depreciation is a tax deduction, however it is not a day-to-day cash expense. For this reason some lenders add it back to your taxable income but amount of allowance varies depending on nature of asset being depreciated. Assets with a high turnover may have a reduced amount of depreciation permitted as an add back by the lender. - **Additional superannuation:** If you have made lump sum or regular voluntary super contributions in excess of your minimum statute requirements then these extra amounts can be added back in most cases. - **Net Profit Before Tax (NPBT):** If you have profits that you have retained in your company then these can be taken into account as well, but only for the period on which the credit assessment is based. If you don’t own the entire company then lenders will assess your share of those retained profits. - **One off expenses:** If you had an extraordinary expense then the lender will often add this back. An Accountant’s letter confirming this will be required. - **Interest & lease expenses:** If you have a business loan or investment loan, then it is likely that you have tax deductions for the interest that you have paid. Lenders will add this back as they will assess all commitments that you have separately in their serviceability calculator. - **Rental property expenses:** Depreciation on your properties, management fees, repairs and other rental property deductions such as negative gearing are all added back. Rental income is also deducted from your income as lenders assess this separately to your main income. - **Company car:** If you have a car that is used by your business and yourself then it is likely that you have deducted many of the expenses associated with this car for tax. Lenders do not add this back, however they often will add back up to $6,000 in gross income to compensate for this if it is the sole vehicle within the family unit. Where a private vehicle is maintained within the family then no allowance will be considered. - **Trust distributions:** If you have your business in a discretionary trust and have chosen to distribute income to some of your family members then in most cases this can be added back. Note that many lenders do not accept this add back, or will only do so if you provide a letter from your accountant to confirm that the beneficiaries are not financially dependent on this income**.** [](https://www.oceanhomeloans.com.au/enquire-online) Assessing which add backs can be applied and with which lender can be very complicated, this can result in reducing your borrowing capacity. Ocean Home Loans mortgage brokers are experts in analysing self-employed financials, so If you have been self-employed for greater than two years and have your financials up to date, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get you approved for a self-employed home loan or self-employed [investment loan](https://www.oceanhomeloans.com.au/home-loans/investment-home-loans/ "Investment Home Loans"), or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## What documents do I have to provide? Again, all banks & lenders have their own individual requirements, but any or all of the following could be required: - Signed Tax returns - Accountant prepared Profit & Loss statement & Balance Sheet - Tax assessment notices - Business Activity Statements (BAS) - Australian Taxation Office (ATO) tax portal printout - Business bank account statements for the previous three to six months showing your turnover ## What if my financials aren’t up to date? Most lenders these days will allow you to not submit tax returns or financials if you sign a declaration confirming your income, the lender will then assess your self-employed home loan using the declared income. They may also require Business Activity Statements (BAS), Business bank account statements or a letter from your accountant confirming your income This can also depend on whether you are borrowing less or greater than 60% LVR of the property’s value. Generally, the lower the LVR the less documents required by the lender. You will have to pay for Lenders Mortgage Insurance (LMI) as a one-off fee when the loan is set up for loans over 60% LVR of the property value. For more information see our [low doc home loans](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans "Low Doc Home Loans") page, Ocean Home Loans mortgage brokers will help you find a great lender & competitive Self Employed Home Loan package. Speak to us today on **07 5593 1420.** ## Ready to Apply for a Self Employed Home Loan? Ocean Home Loans mortgage brokers are experts in analysing self-employed financials, so If you have been self-employed for greater than two years and have your financials up to date, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get you approved for a self-employed home loan or self-employed [investment loan](https://www.oceanhomeloans.com.au/home-loans/investment-home-loans/ "Investment Home Loans"), or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Lo Doc Home Loans - Simpler loans for the self-employed](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** **Lo Doc Home Loans** are a simpler mortgage finance solution for self-employed people who have income and assets, but are unable to provide the required financial statements or tax returns at the time of application, and are usually approved on the basis of the applicant self-declaring the income derived from their business (known as a low doc declaration or self-certification of income). Lo Doc simply implies that the lender requires less financial documentation (such as tax returns or financial statements) than what would be required when lending under a normal full doc loan scenario. ## What documents do I need to provide for a Lo Doc Home Loan? Each lender has their own requirements and will accept different document types to prove your income. The main documents that can be used to verify your income are: - 12 month’s BAS statements showing a high turnover - An accountant’s letter verifying your income - 6 to 12 months Business bank statements showing a high turnover All lenders require some form of documentation, under the NCCP Act they are required to have some kind of income verification before they can approve your mortgage. Ocean Home Loans mortgage brokers are experts in Low doc home loans, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get you approved for a Lo doc home loan or low doc investment loan, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. [](https://www.oceanhomeloans.com.au/enquire-online) ## How do lenders assess a Lo Doc Home Loans? Most lenders look for the following key attributes on your lo doc home loan application to determine your eligibility for the loan sought. These key points are outlined below. - **Self-Employed History:** Your ABN must be registered for a minimum of 12 months and if you are declaring an income greater $75,000 you will also need to be registered for Goods and Services Tax (GST). Some lenders will not accept an application unless you are GST registered, irrespective of your declared income. The longer your ABN and GST registration the better, it demonstrates longevity and consistency as a self-employed business owner. - **Credit History:** Lenders look particularly closely at your credit file and the repayment history of your debts, as they cannot fully verify your income. The major banks are far less forgiving of any problems with your credit history. We do have options if you have a [bad credit history](https://www.oceanhomeloans.com.au/home-loans/bad-credit-home-loans/ "Bad Credit Home Loans") with some of our specialist lenders. - **Equity Contribution:** A minimum deposit of 20% is required for a purchase or 20% equity for a refinance. We do have access to both 85% & 90% lo doc home loans, but beware, the higher the percentage of your property value that you are borrowing, the higher your interest rates and fees will be. - **Net Asset Position:** Your net asset position is the total value of your assets minus your current liabilities. The higher this figure the better. - ****Conduct on Existing Credit:**** When you apply for a lo doc home loan or lo doc investment home loan you may be asked to provide a recent statement on any existing mortgages held and any unsecured debts such as credit cards and personal loans. This is to demonstrate that you are making the obligated payments on these debts and that they are being managed within your credit limits. For refinance transactions it is a standard requirement that you provide 6 months statements for your existing mortgage(s) to be refinanced and generally 3 months statements for any other debts you wish to consolidate (or pay out) from the proceeds of the loan. - **Security Location:** Lenders consider lo doc home loans to be a higher risk, hence the restriction to 80% of the property value, in the main. By also restricting the security location to what they consider to be lower risk locations reduces the lenders overall risk. We know which locations are acceptable to the lenders, so it would be wise to check with us first. - **Equity Release:** Or ‘cash out’ as it is often referred to. This is where an applicant is seeking to refinance an existing debt and obtain further funds for personal or investment purposes. Some lenders limit or require evidence for the purpose of the cash out when applying for a low doc home loan. Ocean Home Loans mortgage brokers are experts in lo doc home loans, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get you approved for a lo doc home loan or lo doc investment home loan, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. [](https://www.oceanhomeloans.com.au/enquire-online) ## Is there anything I should watch out for? Low doc home loans are a higher risk to financial institutions, therefore they place greater restrictions on this type of loan. Below is a list of potential issues to look out for: - **Higher interest rates**: This will mainly depend on the lender and what sort of verification or supporting documentation you are able to provide. Some of our lenders offer the same low rates as they do for full documentation home loans. - **Higher deposit**: 20% of the purchase price is normally required by lenders. - **LMI**: Mortgage insurance is sometimes a compulsory requirement. LMI is applicable only if you borrow over 60% LVR (60% of the property value). Don’t get caught out by these potential restrictions, Ocean Home Loans mortgage brokers are experts in low doc home loans, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get you approved for a low doc home loan or low doc investment home loan, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## Which loan features are available? You can get almost all of the normal home loan features with your lo doc home loan: - Interest only - Extra repayments - [100% offset](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") - Line of credit - [Fixed interest rates](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans") - [Split loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans") (multiple loan accounts) - [Construction](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/ "Construction Home Loans") The following are generally not available with a lo doc home loan: third party guarantees (e.g. parents guaranteeing your loan), introductory interest rates, repayment breaks, and in some instances, security substitution. In most cases, you would need to lodge a new application so that the lender’s credit department could review your situation at the time that a repayment break or new security property was required. ## Apply for a Low Do Home Loan today! Which lender has the lowest interest rates? Which has the lowest LMI premium? Which lenders do you qualify with? Ocean Home Loans mortgage brokers are experts in lo doc home loans, speak to us today on **07 5593 1420** to find out how Ocean Home Loans mortgage brokers can get you approved for a lo doc home loan or lo doc investment home loan, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Construction Home Loans - Building your Home or Investment Property](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/) **Published:** September 13, 2013 **Author:** Brad Kirwan **Content:** Building your own home can be an exciting time for you, but to the inexperienced it can seem somewhat daunting, Ocean Home Loans mortgage brokers are experts in **construction home loans** and will be able to provide you with invaluable support not only during the loan application process, but also ensuring that your fixed price building contract meets the requirements of all our panel lenders. ## What to expect with Construction Home Loans Every lender processes a construction home loan in their own unique way, with a normal loan, submitting the loan application and having it approved in a timely manner is much simpler. Construction Home Loans are far more time-consuming to assess and get approved, simply by the fact there are more parties involved, such as solicitors, conveyancer’s, valuers, builders, council officers etc. plus an enormous amount of paperwork. Ocean Home Loans mortgage brokers are experts in construction home loans and it is our job as your mortgage broker to liaise with all the different parties involved, to not only get your loan approved, but to ensure that if there are any issues, they are corrected as they arise, and where possible, prevent them from occurring in the first place. ## What documentation will I require? In addition to the standard items required for a loan application, to obtain approval for a construction home loan you will also need to provide the following: - Copy of Fixed Price Building Contract - Copy of Council Approved Plans & Builders Specifications Before the first payment is made to the Builder, you will need to provide the following: - Copy of Builders All Risk Insurance - Copy of Owners Warranty Certificate - Authority signed by you authorising payment to be made to the builder, commonly referred to as a “Drawdown Request” This process is repeated for all stages of the construction When requesting the final payment once construction has been completed, you will need to provide the following:- - Occupancy Permit – provided by the builder - Building Insurance over the property in your name [](https://www.oceanhomeloans.com.au/enquire-online) Ocean Home Loans mortgage brokers have software that can quickly compare construction home loans from [over 30 lenders](https://www.oceanhomeloans.com.au/lenders/ "Our Lenders") to find you the most appropriate Construction Home Loan & the best deal, so please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## How is interest calculated during the construction phase? Until the first progress payment is made, there is no interest charged on your loan. Charges commence from the first progress payment that is made to your builder. Payments are usually calculated on a variable, interest-only basis on the amount drawn down. On completion of the project, Ocean Home Loans mortgage brokers will have ensured that your loan type will convert to a loan that is most suitable to your needs and personal situation. Home builders can choose from a wide selection of home loan types after completion, such as: - [Basic Home Loans](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans") - [Professional Package Home Loans](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans") - [Fixed Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans") - [Family Pledge Guarantor Support Home Loans](https://www.oceanhomeloans.com.au/home-loans/family-pledge-guarantor-home-loans/ "Family Pledge Guarantor Home Loans") - [Self Employed Home Loans](https://www.oceanhomeloans.com.au/home-loans/self-employed-home-loans/ "Self Employed Home Loans") - [Low Doc Home Loans](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans/ "Low Doc Home Loans") - [Combination or Split Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans") - [100% Offset Account Home Loans](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") ## First Home Owners Grant The First Home Owners Grant (FHOG) is paid to the lender by the government when the first drawdown is made to the builder. This means that many people who are borrowing a high percentage of the property value, may have enough funds to complete the project, but may not have enough funds to settle on the purchase of the land. Ocean Home Loans mortgage brokers have access to several lenders who will advance the building grant early to allow for the construction to proceed. Each state & territory has their own incentives for both first home buyers and those building homes. We recommend that you contact your state government to confirm the incentives that you may be eligible for. Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on first home buyer Construction Home Loans, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## Buying the land first? If you are buying the land, you may want to consider splitting the loan into a land loan and construction home loan, which means that they will be advanced at different times. If this is not done, you will need to put all of your required funds in at the time the land settles. It is also quite common to have your land loan approved and a conditional approval provided for your construction home loan, subject to the provision of a fixed price building contract. This allows you to settle the land and then look for a builder that suits your requirements. It also provides you with a pre-approved final build price based on your deposit, land price and the borrowing capacity assessment done by the lender. Ocean Home Loans mortgage brokers are experts in construction home loans, so please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Split Rate Home Loans & Combination Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** **Split Rate Home Loans**, sometimes referred to as **Combination Rate Home Loans** or blended loans, allow borrowers to split their home loan into partly fixed and variable portions. This provides borrowers with the flexibility of a variable mortgage product and added certainty of a fixed rate loan. Split & Combination Home Loans are a combination of up to 2 smaller, separate loan accounts together forming one home or investment loan. You can nominate a portion of your home or investment loan to be fixed and the remainder as a variable loan, just choose the proportion that works for you. With split rate home loans & combination rate home loans, the fixed portion of your home loan is protected from increases in interest rates for the fixed period, see [Fixed Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans"). You can still make additional payments and benefit from [interest offset](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") if available, on the variable portion of the loan, which may help you to pay that portion off faster. ## How do Split Rate Home Loans & Combination Rate Home Loans work? - You choose how much of the combination loan you want to split between fixed and variable - The fixed portion gives you certainty over your repayments, protecting you from interest rate fluctuations - The variable portion gives you access to a range of flexible features such as the ability to make extra repayments so you can pay off your home loan sooner, as well as redraw which lets you access overpaid funds to finance future goals - Even better, add a [100% Offset Account](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") to the variable portion Try our [Split Rate Home Loan Calculator](https://www.oceanhomeloans.com.au/split-loan-calculator/ "Split Rate Combination Home Loan Calculator") to see how much money a combination or split rate home loans could save you! [](https://www.oceanhomeloans.com.au/enquire-online) ## Will this cost more in fees? Not necessarily, all the major lenders vary on the fees and charges they apply to differing loan account types, generally, split & combination home loans with a major lender will be set up as part of a lender [Professional Package](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans"). However, many of the 2nd tier banks, building societies and non-bank lenders offer very competitive pricing and no ongoing fees for split & combination rate home loans, In fact we have one particular lender who offers split & combination rate mortgages, who also offers a discount to the fixed portion if it is 50% or less of the total loan amount and no account keeping fees. Please call us now on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on split rate home loans & combination rate home loans or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## What else should I Consider? The interest rate that will apply to fixed rate portion of your home loan will be the rate that applies on the day that the bank applies the changes to your existing loan or the day that the loan is advanced, if refinancing or settled if purchasing. Great news if rates go down but hardly what you were looking for if rates go up. By paying a fixed rate lock in fee, see [Fixed Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans"), you can secure the rate that applies on the day of your application. This fee ranges from $395 to $695 to 0.15% of the loan amount, by doing this you are protected from rate rises. Rate lock is generally available for a maximum of 90 days (depending on the lender). Ocean Home Loans mortgage brokers have access to several lenders that lock the rate in at application for free. ## Apply for a Split Rate Home Loan or Combination Rate Home Loan If you think that split rate home loans & combination rate home loans are appropriate for you then please call us now on **07 5593 1420** or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Offset Account Home Loans - Pay Your Loan Off Sooner](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** **Offset Account Home Loans** are very similar to all-in-one loans, rather than putting all your salary and other income into your loan, it goes into a transaction account that is directly linked to your home loan. Any balance in the offset account is ‘offset’ against your home loan. This reduces the amount of interest you have to repay, making your money work harder for you. So long as your home loan interest rate is higher than your savings account interest rate, you’re generally better off using an offset account, and not earning the interest. That’s because you’re saving more money by paying less interest on your home loan, compared to the interest you’d be earning on your high interest savings account. Don’t forget that you’d probably have to pay tax on any interest that you earned in a savings account too. But because this type of account doesn’t earn any interest, you won’t pay this tax by using an offset transaction account. ## Offset Account Home Loans calculation If you had a home loan of $250,000 and you had an Offset Account with $50,000 in it then the bank would only charge you interest as if you owed them $200,000. So how does this compare to putting your money in a savings account? If your home loan was at an interest rate of 5% p.a. and the savings accounts with the banks were at 3.5% p.a. then instead of earning $1,750 p.a. on your $50,000, by putting it in an offset account you would save $2,500 in interest. Not just are you $750 ahead in this example, if you consider that the ATO would tax you on the $1,750 interest you earn from the savings account you actually end up even further ahead by choosing an offset transaction account home loan. [](https://www.oceanhomeloans.com.au/enquire-online) ## Which Lenders offer Offset Home Loan Accounts? We’ve listed some of the loans offered by our lenders that have offset accounts: - **Bankwest:** Complete home loan, rewards credit card and offset accounts in one flexible package - **CBA:** MAV Standard variable rate / Standard variable rate / 12 month discounted variable rate / MAV 12 month discounted variable rate - **St George:** Advantage Home Loan package standard variable rate / Standard variable rate home loan - **Suncorp:** Standard variable Home Package Plus - **ANZ:** Breakfree standard variable, Professional benefits standard variable / Standard variable rate loan - **NAB:** Choice Package - **AMP:** Professional Package & Basic Loans with offset accounts are available - **Adelaide Bank:** Variable Smartfit & any Smartfix - **Westpac:** Variable, Fixed & Line of Credit Home Loan - **Citibank:** Standard variable offset mortgage - **ING:** Orange Advantage home loan - **Plus many more** There are a lot to choose from, so which one is right for you? Some offset accounts are not fully transactional and some lenders allow multiple accounts with one loan. Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on offset transaction account mortgages or offset transaction account investment mortgages, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## How do Offset Account Home Loans work? An offset account is a linked transaction account that has the usual ATM, EFTPOS, Phone Banking, Internet Banking and cheque book access, by depositing all your income into the offset transaction account the amount of interest that you pay for your home loan will be decreased. Usually home loan interest is calculated daily, based on the balance of your home loan each day. At the end of each month the lender will total up the interest from each day in that month (and charge it all at once). This means that every dollar you have in your offset account saves you interest every day that it’s there. And, whenever you need to access your money it is always available to you in the usual ways, such as an ATM or online. By doing the following you can ensure you are getting the most out of your offset transaction account home loan: - Have your salary deposited into your offset account so that the amount of interest you pay will be less - If you have a credit card, make your day to day purchases with the card and pay the card in full on the due date, thereby retaining as much of your cash as possible in the offset transaction account for as long as possible - Ensure that you have sufficient funds in the offset transaction account to make your home loan and credit card repayments - You can redraw from your home loan account to your offset transaction account if needed - If you don’t have a credit card or prefer to only use a credit card for one off purchases use your account for transactions with your debit card including ATM, EFTPOS, internet banking, cheque book and BPAY - Make your Home Loan repayments from the offset transaction account [](https://www.oceanhomeloans.com.au/enquire-online) ## Offset Account Fixed Rate Loan There are several lenders available if you want a fixed rate home loan and an offset transaction account. Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on fixed rate offset transaction account mortgages or fixed rate offset transaction account investment mortgages, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## Offset Transaction Account Investment Loan Offset accounts are generally considered more tax effective than a redraw facility, especially for investment loans, by maintaining surplus cash in an offset transaction account, it can be drawn out at any time, for any purpose, without affecting the tax-deductibility of the investment loan it was offset against. Alternatively, if you were to redraw funds that had been deposited into an investment loan account, and those funds were for personal use, you have effectively “contaminated” the loan account through mixed use of funds, and it can be quite difficult and costly to track the private/investment use of funds from the loan. For this reason, offset transaction accounts are generally recommended over loan redraw facilities for investment loans. ## Do Basic Loans come with an Offset Account? Generally no, mostly offset account mortgages are set up as part of a lender [Professional Package](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans"). The major banks interest rates tend not to be competitive for home loans below $250,000, whilst their interest rate for a [Basic Home Loan](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans") is. So, if you are borrowing less than $250,000 and taking out a Professional Package home loan with a major bank to get an offset account home loan, it might not provide the savings you would be looking for, due to the annual package fee. However, some of the 2nd tier banks, building societies and non-bank lenders offer very competitive [Basic Home Loans](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans") with an offset transaction account. Ideal if you don’t want to pay ongoing fees and have a smaller loan amount. ## Apply for a loan with an Offset Account Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on offset transaction account mortgages or offset transaction account investment mortgages, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ***Warning:*** *The content of this page provides **General Advice** about offset account investment loans & redraws. It does not take into consideration your specific personal or financial circumstances, needs and objectives and is not a specific recommendation. We recommend that you seek independent financial advice about the tax benefits of an offset account & the implications of redraws from investment loans.* Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [457 Visa Home Loan for temporary Australian residents](https://www.oceanhomeloans.com.au/home-loans/457-visa-home-loan-for-temporary-australian-residents/) **Published:** November 5, 2014 **Author:** Brad Kirwan **Content:** Many temporary residents are led to believe that a **457 visa home loan** is only available for up to 80% of the value of the property, this is totally incorrect, there are a range of lenders who will lend up to 95% of the value of the property. You do not need to be married to, or in a de facto relationship with, an Australian citizen or permanent resident. You will need to be able to fund the cost of [Lenders Mortgage Insurance (LMI)](https://www.oceanhomeloans.com.au/looking-for-a-home-loan-but-dont-have-a-big-enough-deposit/ "Looking for a Home Loan but don’t have a big enough deposit") which at a borrowing level of 95% could be approximately 3% of the funds borrowed, in addition to this you are not entitled to any exemptions to transfer duty or government fees and charges, nor are you eligible for any First Home Owner grants or incentives. So you would be wise to consider saving in the region of between 11% to 13% of the purchase price of the property before applying for a 457 visa home loan. ## [](https://www.oceanhomeloans.com.au/enquire-online) ## What type of property can you purchase? Temporary residents holding a 457 visa can buy one established dwelling only to live in (see below) and they may buy new dwellings, or vacant land to build new dwellings, because these latter purchases increase the available housing stock in Australia. You must apply with the [Foreign Investment Review Board](https://www.firb.gov.au "FIRB") for permission to buy, this can only be done when you have found a suitable property and the permission is granted solely for that property, as your permission is for a specific property you should take legal advice on the content of your purchase contract from your lawyer or conveyancer. A temporary resident is a person who is residing in Australia and: - holds a temporary residency visa which permits them to stay in Australia for a continuous period of more than 12 months (regardless of how long remains on the visa);or - has submitted an application for permanent residency and holds a bridging visa which permits them to stay in Australia until that application has been finalised **Established (Second-Hand) Dwellings** Temporary residents need to apply if they wish to buy an established dwelling. Temporary residents may acquire one established dwelling only and it must be used as their residence (home) in Australia. Such proposals normally meet with no foreign investment objections subject to conditions (such as, that the temporary resident sells the property when it ceases to be their residence). Temporary residents are not permitted to buy established dwellings as investment properties. **New Dwellings** A ‘new dwelling’ is a dwelling which is being purchased directly from the developer and has not been previously occupied for more than 12 months in total. Temporary residents need to apply to buy new dwellings in Australia. Such proposals are normally approved without conditions. **Vacant Land** Temporary residents need to apply to buy vacant land for residential development. These applications are normally approved subject to conditions (such as, that ongoing construction begins within 24 months). If you obtain permanent residency then any restrictions applied by the Foreign Investment Revue Board are no longer valid. ## **Apply for a 457 visa home loan** Need expert advice on a 457 visa home loan, then please contact us on **07 5593 1420** to talk with a mortgage broker who can give you that expert advice, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Refinance Home Loans - Which Home Loan Is Right For Me?](https://www.oceanhomeloans.com.au/home-loans/refinance-home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** With so many different **refinance home loans** on the market, finding the mortgage that is suitable for you is not as simple as it used to be. Home loans have become far more sophisticated in recent years, many mortgages have standard features like [offset accounts](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans"), [account splitting](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans"), fee free credit cards & free transactional bank accounts. These features can provide you with more flexibility when managing your mortgage loan. It’s worth looking into whether your current mortgage offers you the flexibility you need to meet your financial goals. If not, it might be time to consider your refinance options. If you want to refinance your current mortgage or investment mortgage there are a range of loan types available to you that may save you money, provide you with greater flexibility and peace of mind. Refinancers can choose from a wide selection of loan types, such as: - [Basic Home Loans](https://www.oceanhomeloans.com.au/home-loans/basic-home-loans/ "Basic Home Loans") - [Professional Package Home Loans](https://www.oceanhomeloans.com.au/home-loans/professional-package-home-loans/ "Professional Package Home Loans") - [Fixed Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/fixed-interest-rate-home-loans/ "Fixed Rate Home Loans") - [Self Employed Home Loans](https://www.oceanhomeloans.com.au/home-loans/self-employed-home-loans/ "Self Employed Home Loans") - [Low Doc Home Loans](https://www.oceanhomeloans.com.au/home-loans/lo-doc-home-loans "Low Doc Home Loans") - [Combination or Split Rate Home Loans](https://www.oceanhomeloans.com.au/home-loans/split-and-combination-rate-home-loans/ "Split Rate Combination Home Loans") - [100% Offset Account Home Loans](https://www.oceanhomeloans.com.au/home-loans/100-offset-account-home-loans/ "100% Offset Account Home Loans") - [Construction Home Loans](https://www.oceanhomeloans.com.au/home-loans/construction-home-loans/ "Construction Home Loans") [](https://www.oceanhomeloans.com.au/enquire-online) ## Refinance Home Loans – why should I? There are a variety of reasons why you might want to refinance your home or investment mortgage: - You’re paying an unreasonably high interest rate - You’re paying outrageous fees - You’re frustrated by inadequate service - Your loan doesn’t give you the features you need - You’re paying for features you don’t use - Your financial circumstances have changed - You want to consolidate all of your debts Whatever your reason, Ocean Home Loans mortgage brokers can help you save on interest, improve your cash flow and tailor a product to suit your current needs, so contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. ## Refinance Home Loans – What about the costs? There are certainly costs involved in refinancing your mortgage, however when refinancing you are often incurring these costs to gain a greater benefit. Common costs incurred may be; - Application fee - Property Valuation fee - Mortgage Insurance (depending on how much you are borrowing) - Solicitor documents and services fees - Government fees and charges - Title insurance - Discharge fee - Penalty payment Ocean Home Loans mortgage brokers will compare refinance home loans from [over 30 lenders](https://www.oceanhomeloans.com.au/lenders/ "Our Lenders") Australia wide. We’ll identify the right refinance mortgage product for you by assessing interest rates, fees, loan structures, terms and conditions, as well as additional features such as internet banking, discounted credit cards and insurance products. ## Apply for a Refinance Mortgage Please contact us on **07 5593 1420** to talk with an Ocean Home Loans mortgage broker who can give you expert advice on refinance mortgage loans or investment home loans, or [enquire online](https://www.oceanhomeloans.com.au/enquire-online "Contact Us") and we will contact you as soon as possible to discuss your options. Expect more from Ocean Home Loans… [](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Testimonials](https://www.oceanhomeloans.com.au/testimonials/) **Published:** September 3, 2013 **Author:** Brad Kirwan **Content:** [](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/ "Complete testimonial by James R, Burleigh Waters, QLD")> *Brad from Ocean home loans is easily the best in the business when it comes to home loans. I was wit… [Read more](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/ "Complete testimonial by James R, Burleigh Waters, QLD")* James R, Burleigh Waters, QLD [](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/ "Complete testimonial by Sarah M, New Auckland, QLD")> *I cannot speak highly enough of Brad from Ocean Home Loans! I am an ex bankrupt and tried to talk wi… [Read more](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/ "Complete testimonial by Sarah M, New Auckland, QLD")* Sarah M, New Auckland, QLD [](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/ "Complete testimonial by Donna & Justin S, Cedar Grove, QLD")> *We have used Brad on three occasions now and that’s testament to how amazing he is* > > *Always doing the … [Read more](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/ "Complete testimonial by Donna & Justin S, Cedar Grove, QLD")* Donna & Justin S, Cedar Grove, QLD [](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/ "Complete testimonial by Tim W, Spring Hill, QLD")> *Brad has helped me on 2 occasions over 8 yrs and is extremely competent, understanding and ensures t… [Read more](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/ "Complete testimonial by Tim W, Spring Hill, QLD")* Tim W, Spring Hill, QLD [](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/ "Complete testimonial by Brett M & Eleanor M, Telina, QLD")> *Brad was fantastic to deal with, He set expectations and worked hard on our behalf to secure us a ho… [Read more](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/ "Complete testimonial by Brett M & Eleanor M, Telina, QLD")* Brett M & Eleanor M, Telina, QLD [](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/ "Complete testimonial by Nicola & Matt H, Tanah Merah, QLD")> *We are so blessed & thankful to have had Brad from Ocean Home Loans support us through the whole pr… [Read more](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/ "Complete testimonial by Nicola & Matt H, Tanah Merah, QLD")* Nicola & Matt H, Tanah Merah, QLD [](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/ "Complete testimonial by Jessica F & Todd C, Varsity Lakes, QLD")> *We could not recommend Brad enough. This is the 3rd time we have used Ocean home loans and that is … [Read more](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/ "Complete testimonial by Jessica F & Todd C, Varsity Lakes, QLD")* Jessica F & Todd C, Varsity Lakes, QLD [](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/ "Complete testimonial by Sarah & Ron D, Loganholme, QLD")> *After having lost everything when my husband battled cancer coming out the otherside we had no idea… [Read more](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/ "Complete testimonial by Sarah & Ron D, Loganholme, QLD")* Sarah & Ron D, Loganholme, QLD [](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/ "Complete testimonial by Paul and Malai B, South Isis, QLD")> *Ocean Home Loans gets 5 stars because of all round excellence. Dealing with Brad has proven to us th… [Read more](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/ "Complete testimonial by Paul and Malai B, South Isis, QLD")* Paul and Malai B, South Isis, QLD [](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/ "Complete testimonial by Alissa & Jamie B, Nerang, QLD")> *This is the second time we have used Brad and we wont be changing in the future, absolutely amazing.… [Read more](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/ "Complete testimonial by Alissa & Jamie B, Nerang, QLD")* Alissa & Jamie B, Nerang, QLD [](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/ "Complete testimonial by Lauren H, Pacific Pines, QLD")> *I can’t thank Brad enough for his service and help that he provided me for my home loan. There was a… [Read more](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/ "Complete testimonial by Lauren H, Pacific Pines, QLD")* Lauren H, Pacific Pines, QLD [](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/ "Complete testimonial by Tamarah & Chris L, Cedar Grove, QLD")> *My husband and I are extremely happy with the service Brad provided. He explained everything so clea… [Read more](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/ "Complete testimonial by Tamarah & Chris L, Cedar Grove, QLD")* Tamarah & Chris L, Cedar Grove, QLD [](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/ "Complete testimonial by Daniel B, Wellard, WA")> *I cant thank Brad and the team at Ocean home loans enough. I first spoke to Brad over a year ago af… [Read more](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/ "Complete testimonial by Daniel B, Wellard, WA")* Daniel B, Wellard, WA [](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/ "Complete testimonial by Dave P, Brendale, QLD")> *Can not speak highly enough of this bloke!! Brad did a great job supporting and guiding me through t… [Read more](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/ "Complete testimonial by Dave P, Brendale, QLD")* Dave P, Brendale, QLD [](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/ "Complete testimonial by Prabu R, Macquarie Park, NSW")> *This was the second time I used Brad’s services. Brad is without doubt the best mortgage broker pro… [Read more](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/ "Complete testimonial by Prabu R, Macquarie Park, NSW")* Prabu R, Macquarie Park, NSW [](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/ "Complete testimonial by Megan T & Aaron C, Bucasia, QLD")> *Brad’s no nonsense approach really appealed to us and he really allayed our first time buyer fear… [Read more](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/ "Complete testimonial by Megan T & Aaron C, Bucasia, QLD")* Megan T & Aaron C, Bucasia, QLD [](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/ "Complete testimonial by Ricky S, Booie, QLD")> *I simply rang querying off there was a possibility of ever getting a loan again as I was ex bankrup… [Read more](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/ "Complete testimonial by Ricky S, Booie, QLD")* Ricky S, Booie, QLD [](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/ "Complete testimonial by Kosta M, Cannon Hill, QLD")> *I was recommended Brad from Ocean Home Loans by my mum after a bad experience with a previous broke… [Read more](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/ "Complete testimonial by Kosta M, Cannon Hill, QLD")* Kosta M, Cannon Hill, QLD [](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/ "Complete testimonial by Trent W & Dayle C, Whittlesea, VIC")> *We chose Brad based on his reviews; and we were not disappointed! Brad goes above and beyond to help… [Read more](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/ "Complete testimonial by Trent W & Dayle C, Whittlesea, VIC")* Trent W & Dayle C, Whittlesea, VIC [](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/ "Complete testimonial by Deborah B, Broadbeach, QLD")> *Brad was an absolute marvel in finding me a competitive home loan, and went above and beyond to get… [Read more](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/ "Complete testimonial by Deborah B, Broadbeach, QLD")* Deborah B, Broadbeach, QLD [](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/ "Complete testimonial by Michael & Marion C, Red Cliffs, VIC")> *Ocean Home Loans is Brad Kirwan, and Brad Kirwan is the home loan guru. We originally used OHL’s Br… [Read more](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/ "Complete testimonial by Michael & Marion C, Red Cliffs, VIC")* Michael & Marion C, Red Cliffs, VIC [](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/ "Complete testimonial by Emma & Paul D, Highworth, QLD")> *Thank you Brad for your ongoing support and assistance with our home loan, we would highly recommen… [Read more](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/ "Complete testimonial by Emma & Paul D, Highworth, QLD")* Emma & Paul D, Highworth, QLD [](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/ "Complete testimonial by Aileen V, Calamvale, QLD")> *I spoke to and then met Brad about a year ago. I had called a number of specialised lending service… [Read more](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/ "Complete testimonial by Aileen V, Calamvale, QLD")* Aileen V, Calamvale, QLD [](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/ "Complete testimonial by Amirahmad A, Rutherford, NSW")> *We had great time working with Brad to get our loan organised in NSW. Brad was always there and sup… [Read more](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/ "Complete testimonial by Amirahmad A, Rutherford, NSW")* Amirahmad A, Rutherford, NSW [](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/ "Complete testimonial by Devon Z, Moncrieff, ACT")> *Great broker- excellent knowledge in lending policy, very fast, good service and communication, tec… [Read more](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/ "Complete testimonial by Devon Z, Moncrieff, ACT")* Devon Z, Moncrieff, ACT [](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/ "Complete testimonial by Shabu T & Rinsy R, Augustine Heights, QLD")> *Thank you so much for all your help over the past couple of months. Everything was smooth and easy.* … [Read more](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/ "Complete testimonial by Shabu T & Rinsy R, Augustine Heights, QLD") Shabu T & Rinsy R, Augustine Heights, QLD [](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/ "Complete testimonial by Steve W, Chirnside Park, VIC")> *Brad is an industry expert and took time to understand our needs. He was patient with our many qu… [Read more](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/ "Complete testimonial by Steve W, Chirnside Park, VIC")* Steve W, Chirnside Park, VIC [](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/ "Complete testimonial by Kristy W & Connaire M, Mona Vale, NSW")> *Brad has brokered 3 mortgages for us on 3 properties, and I will definite use his services for any … [Read more](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/ "Complete testimonial by Kristy W & Connaire M, Mona Vale, NSW")* Kristy W & Connaire M, Mona Vale, NSW [](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/ "Complete testimonial by Michael M & Nadine A, Carrara, QLD")> *Brad is a great broker, always professional and very prompt. We have used his services many times a… [Read more](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/ "Complete testimonial by Michael M & Nadine A, Carrara, QLD")* Michael M & Nadine A, Carrara, QLD [](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/ "Complete testimonial by Rajendra N, Arundel, QLD")> *Think of every way someone could be helpful in the stressful process of home buying and Brad is one… [Read more](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/ "Complete testimonial by Rajendra N, Arundel, QLD")* Rajendra N, Arundel, QLD [](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/ "Complete testimonial by Tim & Anne W, Kallangur, QLD")> *Brad was a tremendous help during a difficult time. Unlike many in his industry he actually listene… [Read more](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/ "Complete testimonial by Tim & Anne W, Kallangur, QLD")* Tim & Anne W, Kallangur, QLD [](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/ "Complete testimonial by Ashley & Swidle F, Fulham, SA")> *Brad helped us with the mortgage process and everything around it. He provided great friendly ser… [Read more](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/ "Complete testimonial by Ashley & Swidle F, Fulham, SA")* Ashley & Swidle F, Fulham, SA [](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/ "Complete testimonial by Steve & Louise D, Reedy Creek, QLD")> *Brad from Ocean Home Loans has been looking after us for many years, he is very thorough in his wor… [Read more](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/ "Complete testimonial by Steve & Louise D, Reedy Creek, QLD")* Steve & Louise D, Reedy Creek, QLD [](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/ "Complete testimonial by Warwick & Suzanna K, Mudjimba, QLD")> *Brad has been amazing to deal with, professional with clear communication and the best outcome for … [Read more](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/ "Complete testimonial by Warwick & Suzanna K, Mudjimba, QLD")* Warwick & Suzanna K, Mudjimba, QLD [](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/ "Complete testimonial by Steve & Sarah K, Surfers Paradise, QLD")> *We have used Brad at Ocean Home Loans as our broker on our last few homes. Can’t recommend him high… [Read more](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/ "Complete testimonial by Steve & Sarah K, Surfers Paradise, QLD")* Steve & Sarah K, Surfers Paradise, QLD [](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/ "Complete testimonial by Radhika M & Hisham Y, Carrara, QLD")> *Brad was very professional and super helpful, he helped my partner and I purchase our first home wh… [Read more](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/ "Complete testimonial by Radhika M & Hisham Y, Carrara, QLD")* Radhika M & Hisham Y, Carrara, QLD [](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/ "Complete testimonial by Paul and Christina W, Lower Beechmont, QLD")> *I would like to thank Brad of Ocean Home Loans for his persistence and for making the entire proces… [Read more](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/ "Complete testimonial by Paul and Christina W, Lower Beechmont, QLD")* Paul and Christina W, Lower Beechmont, QLD [](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/ "Complete testimonial by Karen & Ricky G, Holland Park West, QLD")> *Brad has been tremendous to deal with. He took all the confusion out of the whole process and expla… [Read more](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/ "Complete testimonial by Karen & Ricky G, Holland Park West, QLD")* Karen & Ricky G, Holland Park West, QLD [](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/ "Complete testimonial by Sinead K & Brian G, Mermaid Beach, QLD")> *As first home buyers, Brad provided a fantastic service for us. I highly recommend using Ocean Home… [Read more](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/ "Complete testimonial by Sinead K & Brian G, Mermaid Beach, QLD")* Sinead K & Brian G, Mermaid Beach, QLD [](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/ "Complete testimonial by Chris & Anja B, Carrara, QLD")> *Brad is extremely responsive and always available. He breaks things down so they’re easy to understa… [Read more](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/ "Complete testimonial by Chris & Anja B, Carrara, QLD")* Chris & Anja B, Carrara, QLD [](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/ "Complete testimonial by Michael & Toki B, Two Wells, SA")> *We live in South Australia and found it hard here with brokers. So we contacted Brad from ocean hom… [Read more](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/ "Complete testimonial by Michael & Toki B, Two Wells, SA")* Michael & Toki B, Two Wells, SA [](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/ "Complete testimonial by Scott & Phoebe W, Mackenzie, QLD")> *Brad at Ocean Home Loans was great. Having your own business can make it more difficulty for financ… [Read more](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/ "Complete testimonial by Scott & Phoebe W, Mackenzie, QLD")* Scott & Phoebe W, Mackenzie, QLD [](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/ "Complete testimonial by Gavin & Jackie D, Forster, NSW")> *Would like to thank Brad for all his time and effort with our Investment Loan Application. Ours was… [Read more](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/ "Complete testimonial by Gavin & Jackie D, Forster, NSW")* Gavin & Jackie D, Forster, NSW [](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/ "Complete testimonial by Amanda & Chris J, Canungra, QLD")> *We first used Brad at Ocean Home Loans 5 years ago. We contacted him again because we remembered ho… [Read more](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/ "Complete testimonial by Amanda & Chris J, Canungra, QLD")* Amanda & Chris J, Canungra, QLD [](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/ "Complete testimonial by Todd C, Varsity Lakes, QLD")> *We where involved in an on the spot multiple offer situation. I called Brad and he guided us throug… [Read more](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/ "Complete testimonial by Todd C, Varsity Lakes, QLD")* Todd C, Varsity Lakes, QLD [](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/ "Complete testimonial by Peter H, Whittlesea, VIC")> *Brad was so helpful that it made for a very easy time for me I would highly recommend Ocean Home lo… [Read more](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/ "Complete testimonial by Peter H, Whittlesea, VIC")* Peter H, Whittlesea, VIC [](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/ "Complete testimonial by Sam & Saul J, Quinns Rocks, WA")> *Brad Kirwan was really helpful and always available when needed even out of working hours.* Sam & Saul J, Quinns Rocks, WA [](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/ "Complete testimonial by Penne M, Oxenford, QLD")> *Brad was great to work with. Worked in with my hours at work. Kept me in the loop all the way with … [Read more](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/ "Complete testimonial by Penne M, Oxenford, QLD")* Penne M, Oxenford, QLD [](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/ "Complete testimonial by Simon & Denok E, Sassafras, TAS")> *We thought we had hit a dead end because of my bankruptcy many years ago. It seemed that despite ha… [Read more](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/ "Complete testimonial by Simon & Denok E, Sassafras, TAS")* Simon & Denok E, Sassafras, TAS [](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/ "Complete testimonial by Matt & Simmone R, Woodberry, NSW")> *I highly recommend Ocean Home Loans, while other lenders said no, Brad and his team said not a prob… [Read more](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/ "Complete testimonial by Matt & Simmone R, Woodberry, NSW")* Matt & Simmone R, Woodberry, NSW [](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/ "Complete testimonial by Robyn and Bruce B, Cooyal, NSW")> *Hi Brad,* > > *Thank you so much for your help in securing a loan for our new home. I was starting to fee… [Read more](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/ "Complete testimonial by Robyn and Bruce B, Cooyal, NSW")* Robyn and Bruce B, Cooyal, NSW [](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/ "Complete testimonial by Barbara N, Ivanhoe, VIC")> *Brad was extremely professional and helpful. I also found Brad very efficient and knowledgeable. I … [Read more](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/ "Complete testimonial by Barbara N, Ivanhoe, VIC")* Barbara N, Ivanhoe, VIC [](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/ "Complete testimonial by Megan M, Southport, QLD")> *Knowledgeable, flexible and a pleasure to deal with. Brad knows his stuff and doesn’t waste your ti… [Read more](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/ "Complete testimonial by Megan M, Southport, QLD")* Megan M, Southport, QLD [](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/ "Complete testimonial by Kristy W, Brookvale, NSW")> *I have used Brad’s services at Ocean Home Loans for 2 properties and found the process uncomplicate… [Read more](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/ "Complete testimonial by Kristy W, Brookvale, NSW")* Kristy W, Brookvale, NSW [](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/ "Complete testimonial by Donna & Justin S, Cedar Grove, QLD")> *Brad was fantastic right from our initial phone conversation to our new house settlement I would no… [Read more](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/ "Complete testimonial by Donna & Justin S, Cedar Grove, QLD")* Donna & Justin S, Cedar Grove, QLD [](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/ "Complete testimonial by Prabu R, Waterloo, NSW")> *I had liaised with several brokers in an attempt to consolidate a lot of unsecured debt I had in th… [Read more](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/ "Complete testimonial by Prabu R, Waterloo, NSW")* Prabu R, Waterloo, NSW [](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/ "Complete testimonial by Derek U, Loganholme, QLD")> *Buying your first home and obtaining the loan can be a daunting prospect but Brad from Ocean Home L… [Read more](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/ "Complete testimonial by Derek U, Loganholme, QLD")* Derek U, Loganholme, QLD [](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/ "Complete testimonial by Ann W, Bangkok, Thailand")> *The circumstances around applying for an investment loan were complicated given that I’m currently … [Read more](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/ "Complete testimonial by Ann W, Bangkok, Thailand")* Ann W, Bangkok, Thailand [](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/ "Complete testimonial by Tarun G, Kurunjang, VIC")> *Hi my name is tarun. I called Brad from ocean homeloans after I was rejected by other brokers as I … [Read more](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/ "Complete testimonial by Tarun G, Kurunjang, VIC")* Tarun G, Kurunjang, VIC [](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/ "Complete testimonial by Katie & Leigh G, Varsity Lakes, QLD")> *Ocean Home Loans have assisted my husband and I over many years in sourcing the best home loan prod… [Read more](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/ "Complete testimonial by Katie & Leigh G, Varsity Lakes, QLD")* Katie & Leigh G, Varsity Lakes, QLD [](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/ "Complete testimonial by Tania & Jason B, Mackay, QLD")> *Highly recommend Brad, so easy to deal with, all questions answered in easy to understand terms, al… [Read more](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/ "Complete testimonial by Tania & Jason B, Mackay, QLD")* Tania & Jason B, Mackay, QLD [](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/ "Complete testimonial by Michael & Marion C, Mildura, VIC")> *We would like to thank Brad for all his help. We are so thankful that Brad believed in us and didn’… [Read more](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/ "Complete testimonial by Michael & Marion C, Mildura, VIC")* Michael & Marion C, Mildura, VIC [](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/ "Complete testimonial by Josh & Steph W, Maudsland, QLD")> *Brad at Ocean Home Loans went above and beyond in helping us purchase our second property, his advi… [Read more](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/ "Complete testimonial by Josh & Steph W, Maudsland, QLD")* Josh & Steph W, Maudsland, QLD [](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/ "Complete testimonial by Matt B & Sarah M, Caloundra West, QLD")> *Brad from Ocean Home Loans was very helpful. He always answered my emails and messages quickly. The… [Read more](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/ "Complete testimonial by Matt B & Sarah M, Caloundra West, QLD")* Matt B & Sarah M, Caloundra West, QLD [](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/ "Complete testimonial by Wendy & Jeremy M, Bilinga, QLD")> *Brad was very helpful. We were purchasing our first home so we didn’t know too much but he thorough… [Read more](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/ "Complete testimonial by Wendy & Jeremy M, Bilinga, QLD")* Wendy & Jeremy M, Bilinga, QLD [](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/ "Complete testimonial by Peter S, Dubai, UAE")> *It is a pleasure to provide this recommendation about Ocean Home Loans. I am an Australian living o… [Read more](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/ "Complete testimonial by Peter S, Dubai, UAE")* Peter S, Dubai, UAE [](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/ "Complete testimonial by Valerio B, South Bank, VIC")> *Brad is the best – He has helped me a lot – always extremely responding, precise and caring. To cho… [Read more](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/ "Complete testimonial by Valerio B, South Bank, VIC")* Valerio B, South Bank, VIC [](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/ "Complete testimonial by Rachel & Ricky W, Tamborine Mountain, QLD")> *Brad was great to work with, very understanding of our needs, very accommodating and helpful. Nothi… [Read more](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/ "Complete testimonial by Rachel & Ricky W, Tamborine Mountain, QLD")* Rachel & Ricky W, Tamborine Mountain, QLD [](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/ "Complete testimonial by Deon & Danielle, Huntfield Heights, SA")> *For us Brad was the only one willing to take us on out of all the people we tried to contact regard… [Read more](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/ "Complete testimonial by Deon & Danielle, Huntfield Heights, SA")* Deon & Danielle, Huntfield Heights, SA [](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/ "Complete testimonial by Richele & Robert, Gilston, QLD")> *We have been extremely happy with the professional service Brad has offered us throughout the build… [Read more](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/ "Complete testimonial by Richele & Robert, Gilston, QLD")* Richele & Robert, Gilston, QLD [](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/ "Complete testimonial by Ben S, Benowa, QLD")> *Excellent service. Dealt with Brad Kirwan who was outstanding, never minded the emails or phone cal… [Read more](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/ "Complete testimonial by Ben S, Benowa, QLD")* Ben S, Benowa, QLD [](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/ "Complete testimonial by Catherine & Derek A, Molendinar, QLD")> *Thank you Brad we found you to be very helpful and friendly, thankyou so much. Derek & Catherine* > > … [Read more](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/ "Complete testimonial by Catherine & Derek A, Molendinar, QLD") Catherine & Derek A, Molendinar, QLD [](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/ "Complete testimonial by Steve & Sarah K, Mudgeeraba, QLD")> *Brad went above and beyond to ensure that we got the home loan we were after. We would highly recom… [Read more](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/ "Complete testimonial by Steve & Sarah K, Mudgeeraba, QLD")* Steve & Sarah K, Mudgeeraba, QLD > *In this day and age where customer service is lacking, we were so grateful for the prompt and profe… [Read more](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/ "Complete testimonial by Vicki & Andrew B, Cedar Vale, QLD")* Vicki & Andrew B, Cedar Vale, QLD > *A few years ago Brad helped us secure our loan for a build. 4 years on, we still call on Brad for a… [Read more](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/ "Complete testimonial by Yaan, Bonogin, QLD")* Yaan, Bonogin, QLD [](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/ "Complete testimonial by Mark & Kim, Upper Coomera, QLD")> *Have been dealing with Brad for several years. He has arranged an owner mortgage and a investment m… [Read more](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/ "Complete testimonial by Mark & Kim, Upper Coomera, QLD")* Mark & Kim, Upper Coomera, QLD > *Just thought I would let you know that we finally moved into our beautiful new home on the weekend.… [Read more](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/ "Complete testimonial by Anna C, Brighton, QLD")* Anna C, Brighton, QLD > *Brad, thank you again for all your help and patience, we really do appreciate it.* Shannon & Kirrilly, Bracken Ridge, QLD > *We would like to thank Brad for his hard work, he did ALL our running around for us and we would no… [Read more](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/ "Complete testimonial by Chris & Amanda, Gold Coast, QLD")* Chris & Amanda, Gold Coast, QLD > *I located Brad Kirwan of Ocean Loans on the Internet, as his webpage was professional and he was lo… [Read more](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/ "Complete testimonial by Paul & Pamela, Varsity Lakes, QLD")* Paul & Pamela, Varsity Lakes, QLD > *Brad, Thanks for your continued support, it is greatly appreciated.* Leigh & Katie G, Nerang, QLD --- ### [Contact Us](https://www.oceanhomeloans.com.au/contact-us/) **Published:** September 3, 2013 **Author:** Brad Kirwan **Content:** [](https://www.oceanhomeloans.com.au/enquire-online) Ph: (07) 5593 1420 Fax: (07) 5593 1460 Mob: 0419 022 206 Email: Web: Skype: brad.kirwan Brad Kirwan is a credit representative (CRN 399051) of BLSSA Pty Ltd (Australian Credit Licence No. 391237) *We receive services to support the broking services we give you. We receive mortgage aggregation services from FAST \[and compliance services from BLSSA Pty Ltd\]. Sometimes they collect personal information about customers to manage customer enquiries or complaints, commission payments or file reviews. If you want to find out how they manage your personal information, please click on the link below: [https://www.fastgroup.com.au/privacy](https://cl.s6.exct.net/?qs=ece650e5f03ea574b803be075e2f99d7fc2ea0d492c75d4754c2e429134f26dd99dbcd6eed209adbd99539b5847cf898e771714e557faeb52ea24938e2612e94) If you have any questions about this, please do not hesitate to contact me.* --- ### [Enquire Online](https://www.oceanhomeloans.com.au/enquire-online/) **Published:** October 4, 2013 **Author:** Brad Kirwan **Content:**  First Name\* Last Name\* Email Address\* Contact Phone\* Loan Amount\* Post Code\* Tell us about your situation\* Δ --- ### [Subscribe to My Blog](https://www.oceanhomeloans.com.au/subscribe-to-my-blog/) **Published:** March 18, 2014 **Author:** Brad Kirwan **Content:** **Error:** Contact form not found. --- ### [Mortgage Calculators](https://www.oceanhomeloans.com.au/mortgage-calculators/) **Published:** September 3, 2013 **Author:** Brad Kirwan **Content:** Mortgage Calculators --- ### [Disclaimer](https://www.oceanhomeloans.com.au/disclaimer/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** The financial industry is a dynamic industry – continually evolving and changing. The material on this website is intended only to provide a summary and general overview on matters of interest. This website and the information contained within it, is subject to continuous change and although we attempt to ensure the content is correct and current we do not guarantee its currency nor correctness due to delays, errors and omissions which may occur. To the maximum extent permitted by law, Ocean Home Loans takes no responsibility whatsoever to you or anyone else for any loss or damage suffered as a result of or in connection with the use of this website or any of its content. This includes, but is not limited to, the transmission of any computer viruses and any subsequent constructive loss which may occur. We recommend that prior to downloading any files, photos or articles, an appropriate virus check should be conducted. 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[](https://www.oceanhomeloans.com.au/enquire-online) --- ### [Home Loans](https://www.oceanhomeloans.com.au/home-loans/) **Published:** September 2, 2013 **Author:** Brad Kirwan **Content:** [](https://www.oceanhomeloans.com.au/enquire-online) --- ## Testimonials ### [James R, Burleigh Waters, QLD](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/) **Published:** November 14, 2023 **Author:** Brad Kirwan **Content:** *Brad from Ocean home loans is easily the best in the business when it comes to home loans. I was with someone else in the past but since changing to Brad I won’t go with anyone else. Found me the best rate possible, communication is great and his platform for onboarding is seem less.* James R, Burleigh Waters, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20James%20R%2C%20Burleigh%20Waters%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fjames-r-burleigh-waters-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/james-r-burleigh-waters-qld/#print?share=print) - **Categories:** Mortgage --- ### [Sarah M, New Auckland, QLD](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/) **Published:** March 21, 2023 **Author:** Brad Kirwan **Content:** *I cannot speak highly enough of Brad from Ocean Home Loans! I am an ex bankrupt and tried to talk with a few brokers without much success or ridiculous deposit requirements! Brad helped me every single step of the way and his system is so streamlined and easy to use and understand! Long story short, WE GOT OUR HOME LOAN!!! My kids and I now have our own forever home and I am so thankful I found Brad!* Sarah M, New Auckland, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Sarah%20M%2C%20New%20Auckland%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsarah-m-new-auckland-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/sarah-m-new-auckland-qld/#print?share=print) - **Categories:** Mortgage --- ### [Donna & Justin S, Cedar Grove, QLD](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/) **Published:** February 1, 2023 **Author:** Brad Kirwan **Content:** *We have used Brad on three occasions now and that’s testament to how amazing he is* *Always doing the best for us, very helpful, and just great to deal with.* Thanks so much Brad ?? Donna & Justin S, Cedar Grove, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Donna%20%26%20Justin%20S%2C%20Cedar%20Grove%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fdonna-justin-s-cedar-grove-qld-2%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld-2/#print?share=print) - **Categories:** Mortgage --- ### [Tim W, Spring Hill, QLD](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/) **Published:** February 1, 2023 **Author:** Brad Kirwan **Content:** *Brad has helped me on 2 occasions over 8 yrs and is extremely competent, understanding and ensures the whole process is stress free – I highly recommend him* Tim W, Spring Hill, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Tim%20W%2C%20Spring%20Hill%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Ftim-w-spring-hill-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/tim-w-spring-hill-qld/#print?share=print) - **Categories:** Mortgage --- ### [Brett M & Eleanor M, Telina, QLD](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/) **Published:** January 9, 2023 **Author:** Brad Kirwan **Content:** *Brad was fantastic to deal with, He set expectations and worked hard on our behalf to secure us a home loan. We will be working with Brad in the future.* Brett M & Eleanor M, Telina, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Brett%20M%20%26%20Eleanor%20M%2C%20Telina%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fbrett-m-eleanor-m-telina-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/brett-m-eleanor-m-telina-qld/#print?share=print) - **Categories:** Mortgage --- ### [Nicola & Matt H, Tanah Merah, QLD](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/) **Published:** December 21, 2022 **Author:** Brad Kirwan **Content:** *We are so blessed & thankful to have had Brad from Ocean Home Loans support us through the whole process of buying our home. Brad really listened to what we wanted, he advised us on the best path forward & then worked his magic behind the scenes & made it all happen with minimal stress for us! Absolutely amazing! We highly recommend Brad to anyone buying a home! Thanks again Brad!!* Nicola & Matt H, Tanah Merah, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Nicola%20%26%20Matt%20H%2C%20Tanah%20Merah%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fnicola-matt-h-tanah-merah-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/nicola-matt-h-tanah-merah-qld/#print?share=print) - **Categories:** Mortgage --- ### [Jessica F & Todd C, Varsity Lakes, QLD](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/) **Published:** October 14, 2022 **Author:** Brad Kirwan **Content:** *We could not recommend Brad enough. This is the 3rd time we have used Ocean home loans and that is testimony to his commitment to get us the best possible solution. This time we purchased a new build and we were thrown lots of challenges. It was great to have Brad in our corner. He was always available and with his experience he always had a solution to get us through.* Jessica F & Todd C, Varsity Lakes, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Jessica%20F%20%26%20Todd%20C%2C%20Varsity%20Lakes%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fjessica-f-todd-c-varsity-lakes-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/jessica-f-todd-c-varsity-lakes-qld/#print?share=print) - **Categories:** Mortgage --- ### [Sarah & Ron D, Loganholme, QLD](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/) **Published:** September 9, 2022 **Author:** Brad Kirwan **Content:** *After having lost everything when my husband battled cancer coming out the otherside we had no idea what to expect or where to turn, we found ocean home loans on Google and never looked back, Brad has been amazing often going above and beyond with guidance and advice. He helped us navigate the task of buying a home months before we were even ready to purchase. I highly recommend this broker. Sending our thanks to Brad.* Sarah & Ron D, Loganholme, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Sarah%20%26%20Ron%20D%2C%20Loganholme%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsarah-ron-d-loganholme-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/sarah-ron-d-loganholme-qld/#print?share=print) - **Categories:** Mortgage --- ### [Paul and Malai B, South Isis, QLD](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/) **Published:** June 2, 2022 **Author:** Brad Kirwan **Content:** *Ocean Home Loans gets 5 stars because of all round excellence. Dealing with Brad has proven to us that really good service still exists. We gave Brad a challenge in that our past financial situation has not been that great. We asked him to help us get a home loan which he did and every step of the process was very professional. The online forms and processes are easy to follow and well laid out. We could call him anytime with a question and he always had the answer. We will deal with Brad again if we need finance for anything and 100% recommend his services to everyone. On top of all that Brad is a really nice guy and it has been a pleasure doing business with him. We can’t thank you enough Brad.* Paul and Malai B, South Isis, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Paul%20and%20Malai%20B%2C%20South%20Isis%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fpaul-and-malai-b-south-isis-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/paul-and-malai-b-south-isis-qld/#print?share=print) - **Categories:** Mortgage --- ### [Alissa & Jamie B, Nerang, QLD](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/) **Published:** April 26, 2022 **Author:** Brad Kirwan **Content:** *This is the second time we have used Brad and we wont be changing in the future, absolutely amazing. Makes everything so easy for us and has great connections with low interest loans. Definately recommend* Alissa & Jamie B, Nerang, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Alissa%20%26%20Jamie%20B%2C%20Nerang%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Falissa-jamie-b-nerang-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/alissa-jamie-b-nerang-qld/#print?share=print) - **Categories:** Mortgage --- ### [Lauren H, Pacific Pines, QLD](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/) **Published:** April 20, 2022 **Author:** Brad Kirwan **Content:** *I can’t thank Brad enough for his service and help that he provided me for my home loan. There was a few hurdles along the way but Brad always promptly advised me of updates and kept me informed. Brad went above and beyond for me and he managed to get me over the line for approval of the loan which I am extremely thankful for. I will definitely be referring my friends and family to Brad and will be using his services in the future!* Lauren H, Pacific Pines, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Lauren%20H%2C%20Pacific%20Pines%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Flauren-h-pacific-pines-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/lauren-h-pacific-pines-qld/#print?share=print) - **Categories:** Mortgage --- ### [Tamarah & Chris L, Cedar Grove, QLD](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/) **Published:** April 19, 2022 **Author:** Brad Kirwan **Content:** *My husband and I are extremely happy with the service Brad provided. He explained everything so clearly and helped us through the entire process of buying our dream property. We will definitely be seeking Brads advice and services in the future!!* Tamarah & Chris L, Cedar Grove, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Tamarah%20%26%20Chris%20L%2C%20Cedar%20Grove%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Ftamarah-chris-l-cedar-grove-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/tamarah-chris-l-cedar-grove-qld/#print?share=print) - **Categories:** Mortgage --- ### [Daniel B, Wellard, WA](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/) **Published:** February 16, 2022 **Author:** Brad Kirwan **Content:** *I cant thank Brad and the team at Ocean home loans enough. I first spoke to Brad over a year ago after a positive referral from a friend. At first I was hesitant due to the fact I was in Perth and Brad was in QLD. I had just come out of bankruptcy and wasn’t feeling too positive about the prospect of getting another loan. Brad formulated an 18 month plan to me which was impressive due to the fact a pay day was so far away. Cutting a long story short my loan was approved after following Brads advice and my interest rate was as low as someone with a good credit rating. The online information and application submission tool was a god send and minimised the paper work required. Brads knowledge of the WA housing market was also second to none. I cant recommend Ocean Home Loans highly enough and I’m eternally thankful for their level of professionalism and service.* Daniel B, Wellard, WA ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Daniel%20B%2C%20Wellard%2C%20WA&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fdaniel-b-wellard-wa%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/daniel-b-wellard-wa/#print?share=print) - **Categories:** Mortgage --- ### [Dave P, Brendale, QLD](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/) **Published:** February 7, 2022 **Author:** Brad Kirwan **Content:** *Can not speak highly enough of this bloke!! Brad did a great job supporting and guiding me through the entire home loan process. Extremely helpful, prompt responses, the odd hiccup (third parties) was addressed and resolved promptly. Highly recommend Brad!!* Dave P, Brendale, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Dave%20P%2C%20Brendale%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fdave-p-brendale-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/dave-p-brendale-qld/#print?share=print) - **Categories:** Mortgage --- ### [Prabu R, Macquarie Park, NSW](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/) **Published:** January 24, 2022 **Author:** Brad Kirwan **Content:** *This was the second time I used Brad’s services. Brad is without doubt the best mortgage broker professional I have had the pleasure of dealing with. He was always responsive to all my queries and ensured he got the best outcome for me.* *The application process was seamless with everything done electronically. “Too hard” is not in his vocabulary as he always found a creative way to ensure there was always options for me.* Prabu R, Macquarie Park, NSW ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Prabu%20R%2C%20Macquarie%20Park%2C%20NSW&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fprabu-r-macquarie-park-nsw%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/prabu-r-macquarie-park-nsw/#print?share=print) - **Categories:** Mortgage --- ### [Megan T & Aaron C, Bucasia, QLD](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/) **Published:** December 16, 2021 **Author:** Brad Kirwan **Content:** *Brad’s no nonsense approach really appealed to us and he really allayed our first time buyer fears. Would recommend Brad Kirwan to anyone looking to buy a home. Can’t thank him enough for his help.* Megan T & Aaron C, Bucasia, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Megan%20T%20%26%20Aaron%20C%2C%20Bucasia%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmegan-t-aaron-c-bucasia-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/megan-t-aaron-c-bucasia-qld/#print?share=print) - **Categories:** Mortgage --- ### [Ricky S, Booie, QLD](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/) **Published:** December 15, 2021 **Author:** Brad Kirwan **Content:** *I simply rang querying off there was a possibility of ever getting a loan again as I was ex bankrupt. Brad asked me a few simple questions and advised me that this would not be a problem. I am now a proud home owner again. If he can help someone like me he can help everyone. Not only did he assist me in my dream, but also a very competitive rate. All I can say Brad is a very knowledgeable professional in his industry, and was an absolute pleasure to deal with, 100 out of 100 from me.* Ricky S, Booie, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Ricky%20S%2C%20Booie%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fricky-s-booie-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/ricky-s-booie-qld/#print?share=print) - **Categories:** Mortgage --- ### [Kosta M, Cannon Hill, QLD](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/) **Published:** December 7, 2021 **Author:** Brad Kirwan **Content:** *I was recommended Brad from Ocean Home Loans by my mum after a bad experience with a previous broker. From my first phone call, I knew Brad was right for me. His experience in the industry is evident in his quality understanding of the home loans process, and right from the get go told me absolutely everything I needed to do. As it was my first time purchasing a home, I had what felt like endless questions for Brad. He was so understanding and always took the time to thoroughly explain something to me and reassure me if I had any doubts or worries. Brad was upfront and honest throughout the entire process which was so comforting to have when dealing with the stress of going through this for the first time. There were many times I had called Brad while super anxious about something I had heard, or read online, and he always put my concerns at bay and assured me that everything is being handled. Brad was so attentive to my needs, and constantly followed up with the other parties to make sure things were rolling and we could meet the tight deadline of my contract. In the end I am happily living in my first property which I can happily say is almost all thanks to Brad. I wouldn’t have been able to get through the buying process without having him by my side. I strongly recommend Brad and ocean home loans to anyone looking to purchase a property.* Kosta M, Cannon Hill, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Kosta%20M%2C%20Cannon%20Hill%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fkosta-m-cannon-hill-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/kosta-m-cannon-hill-qld/#print?share=print) - --- ### [Trent W & Dayle C, Whittlesea, VIC](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/) **Published:** October 28, 2021 **Author:** Brad Kirwan **Content:** *We chose Brad based on his reviews; and we were not disappointed! Brad goes above and beyond to help you & we would highly recommend him to anyone looking for someone trustworthy & reliable!* Trent W & Dayle C, Whittlesea, VIC ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Trent%20W%20%26%20Dayle%20C%2C%20Whittlesea%2C%20VIC&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Ftrent-w-dayle-c-whittlesea-vic%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/trent-w-dayle-c-whittlesea-vic/#print?share=print) - **Categories:** Mortgage --- ### [Deborah B, Broadbeach, QLD](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/) **Published:** October 8, 2021 **Author:** Brad Kirwan **Content:** *Brad was an absolute marvel in finding me a competitive home loan, and went above and beyond to get my mortgage approval through in a tight timescale. I would highly recommend Brad for his conscientiousness, professionalism and transparency throughout the whole process.* Deborah B, Broadbeach, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Deborah%20B%2C%20Broadbeach%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fdeborah-b-broadbeach-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/deborah-b-broadbeach-qld/#print?share=print) - **Categories:** Mortgage --- ### [Michael & Marion C, Red Cliffs, VIC](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/) **Published:** September 21, 2021 **Author:** Brad Kirwan **Content:** *Ocean Home Loans is Brad Kirwan, and Brad Kirwan is the home loan guru. We originally used OHL’s Brad’s services in late 2015 to take out a home loan on our current home; and we used OHL’s Brad’s skills once again in early 2018 to refinance for a better interest rate home loan; and for the third time in August/September of 2021 to refinance and to obtain a lower interest rate. My wife and have always been impressed with the level of Brad’s customer service, professionalism and non-judgemental approach when obtaining all that he needs to know from the client to help get the loan approved. Brad is amazing to work with and we are so blessed to have found Brad all those years ago. Thank you Brad, we really appreciate everything. Regards, Michael and Marion.* Michael & Marion C, Red Cliffs, VIC ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Michael%20%26%20Marion%20C%2C%20Red%20Cliffs%2C%20VIC&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmichael-marion-c-red-cliffs-vic%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-red-cliffs-vic/#print?share=print) - **Categories:** Mortgage --- ### [Emma & Paul D, Highworth, QLD](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/) **Published:** September 3, 2021 **Author:** Brad Kirwan **Content:** *Thank you Brad for your ongoing support and assistance with our home loan, we would highly recommend Brad to anyone who is looking for an expert and highly professional broker who will go above and beyond and guide you through a the home loan process, with a fabulous end result. We cant thank you enough Brad!, Cheers Em, Paul and Charlie 🙂* Emma & Paul D, Highworth, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Emma%20%26%20Paul%20D%2C%20Highworth%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Femma-paul-d-highworth-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/emma-paul-d-highworth-qld/#print?share=print) - **Categories:** Mortgage --- ### [Aileen V, Calamvale, QLD](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/) **Published:** August 17, 2021 **Author:** Brad Kirwan **Content:** *I spoke to and then met Brad about a year ago. I had called a number of specialised lending services but knew that Oceans was the one for me. Brad is extremely knowledgeable and was sensitive to my limited understanding of mortgages. He took the time to explain things to me which was very much appreciated. He also went out of his way to ensure that the finance was honoured after unexpected and lengthy settlement delays. This showed me that I wasn’t just another loan applicant but a person who was relying on this purchase to start a new life and have an asset. I have full intentions of using Oceans again very soon and have recommended them to others.* Aileen V, Calamvale, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Aileen%20V%2C%20Calamvale%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Faileen-a-calamvale-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/aileen-a-calamvale-qld/#print?share=print) - **Categories:** Mortgage --- ### [Amirahmad A, Rutherford, NSW](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/) **Published:** February 4, 2021 **Author:** Brad Kirwan **Content:** *We had great time working with Brad to get our loan organised in NSW. Brad was always there and super responsive and supportive. Definitely recommend him. Thanks Brad* Amirahmad A, Rutherford, NSW ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Amirahmad%20A%2C%20Rutherford%2C%20NSW&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Famirahmad-a-rutherford-nsw%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/amirahmad-a-rutherford-nsw/#print?share=print) - **Categories:** Mortgage --- ### [Devon Z, Moncrieff, ACT](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/) **Published:** December 21, 2020 **Author:** Brad Kirwan **Content:** *Great broker- excellent knowledge in lending policy, very fast, good service and communication, technology savvy to work with clients across different locations. Would recommend to anyone who needs a homeloan.* Devon Z, Moncrieff, ACT ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Devon%20Z%2C%20Moncrieff%2C%20ACT&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fdevon-z-moncrieff-act%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/devon-z-moncrieff-act/#print?share=print) - **Categories:** Mortgage --- ### [Shabu T & Rinsy R, Augustine Heights, QLD](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/) **Published:** August 31, 2020 **Author:** Brad Kirwan **Content:** *Thank you so much for all your help over the past couple of months. Everything was smooth and easy. Appreciate your help through this entire process. We are slowly settling in. 🙂* *thanks so much again.* *Regards* *Rinsy and Shabu* Shabu T & Rinsy R, Augustine Heights, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Shabu%20T%20%26%20Rinsy%20R%2C%20Augustine%20Heights%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fshabu-t-rinsy-r-augustine-heights-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/shabu-t-rinsy-r-augustine-heights-qld/#print?share=print) - **Categories:** Mortgage --- ### [Steve W, Chirnside Park, VIC](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/) **Published:** July 29, 2020 **Author:** Brad Kirwan **Content:** *Brad is an industry expert and took time to understand our needs. He was patient with our many queries and really came through for us. Thanks Brad.* Steve W, Chirnside Park, VIC ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steve%20W%2C%20Chirnside%20Park%2C%20VIC&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsteve-w-chirnside-park-vic%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/steve-w-chirnside-park-vic/#print?share=print) - **Categories:** Mortgage --- ### [Michael M & Nadine A, Carrara, QLD](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/) **Published:** July 28, 2020 **Author:** Brad Kirwan **Content:** *Brad is a great broker, always professional and very prompt. We have used his services many times and feel confident referring him to friends and family (which we have done)* Michael M & Nadine A, Carrara, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Michael%20M%20%26%20Nadine%20A%2C%20Carrara%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmichael-m-nadine-a-carrara-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/michael-m-nadine-a-carrara-qld/#print?share=print) - **Categories:** Mortgage --- ### [Robyn and Bruce B, Cooyal, NSW](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/) **Published:** April 27, 2017 **Author:** Brad Kirwan **Content:** *Hi Brad,* *Thank you so much for your help in securing a loan for our new home. I was starting to feel like it wasn’t going to happen for us and will forever be thankful for your help. We love our new place and are once again enjoying life owning our own slice of heaven. Thanks and we would recommend you to anyone.* *Robyn and Bruce B* Robyn and Bruce B, Cooyal, NSW ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Robyn%20and%20Bruce%20B%2C%20Cooyal%2C%20NSW&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Frobyn-and-bruce-b-cooyal-nsw%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/robyn-and-bruce-b-cooyal-nsw/#print?share=print) - **Categories:** Mortgage --- ### [Kristy W & Connaire M, Mona Vale, NSW](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/) **Published:** July 27, 2020 **Author:** Brad Kirwan **Content:** *Brad has brokered 3 mortgages for us on 3 properties, and I will definite use his services for any future properties. Trying to navigate banks and work out the best deal for us would have been a complex, if not impossible, task but Brad was able to secure us the best deals each time. His knowledge is invaluable and his service to his customers first class. Highly recommend Ocean Home Loans.* Kristy W & Connaire M, Mona Vale, NSW ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Kristy%20W%20%26%20Connaire%20M%2C%20Mona%20Vale%2C%20NSW&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fkristy-w-connaire-m-mona-vale-nsw%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/kristy-w-connaire-m-mona-vale-nsw/#print?share=print) - **Categories:** Mortgage --- ### [Steve & Sarah K, Surfers Paradise, QLD](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/) **Published:** July 21, 2020 **Author:** Brad Kirwan **Content:** *We have used Brad at Ocean Home Loans as our broker on our last few homes. Can’t recommend him highly enough, highly professional and friendly advice.* Steve & Sarah K, Surfers Paradise, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steve%20%26%20Sarah%20K%2C%20Surfers%20Paradise%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsteve-sarah-k-surfers-paradise-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-surfers-paradise-qld/#print?share=print) - **Categories:** Mortgage --- ### [Rajendra N, Arundel, QLD](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/) **Published:** July 24, 2020 **Author:** Brad Kirwan **Content:** *Think of every way someone could be helpful in the stressful process of home buying and Brad is one that would provide that. Stay assured he will be with you all the way. Has an amazing way of making concepts simple, without jargon.* *His blogs are a worthy read.* Rajendra N, Arundel, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Rajendra%20N%2C%20Arundel%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Frajendra-n-arundel-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/rajendra-n-arundel-qld/#print?share=print) - **Categories:** Mortgage --- ### [Tim & Anne W, Kallangur, QLD](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/) **Published:** July 23, 2020 **Author:** Brad Kirwan **Content:** *Brad was a tremendous help during a difficult time. Unlike many in his industry he actually listened . He traveled a considerable distance to consult with us and was very patient with us. He cared about our needs and was factual rather than judgemental. The entire process was thorough and yet simple. I would highly recommend Brads services.* Tim & Anne W, Kallangur, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Tim%20%26%20Anne%20W%2C%20Kallangur%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Ftim-anne-w-kallangur-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/tim-anne-w-kallangur-qld/#print?share=print) - **Categories:** Mortgage --- ### [Ashley & Swidle F, Fulham, SA](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/) **Published:** July 22, 2020 **Author:** Brad Kirwan **Content:** *Brad helped us with the mortgage process and everything around it. He provided great friendly service and he was incredibly reliable and honest. As first home buyer, Brad was informative and very patient in explaining what needed to be done at each step and he was very prompt to reply to all my queries. Although there were hurdles due to COVID job loss, etc, he was willing to take on the challenge and come up with a solution. He advised us to loan products with the best interest rate in the market for our situation and save us a lot of money on LMI. Thanks for all you help, I would highly recommend Oceans Home Loans.* Ashley & Swidle F, Fulham, SA ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Ashley%20%26%20Swidle%20F%2C%20Fulham%2C%20SA&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fashley-swidle-f-fulham-sa%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/ashley-swidle-f-fulham-sa/#print?share=print) - **Categories:** Mortgage --- ### [Steve & Louise D, Reedy Creek, QLD](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/) **Published:** July 21, 2020 **Author:** Brad Kirwan **Content:** *Brad from Ocean Home Loans has been looking after us for many years, he is very thorough in his work and always goes the extra mile, i would highly recommend Brad to anyone who is looking for a mortgage or refinance.* Steve & Louise D, Reedy Creek, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steve%20%26%20Louise%20D%2C%20Reedy%20Creek%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsteve-louise-d-reedy-creek-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/steve-louise-d-reedy-creek-qld/#print?share=print) - **Categories:** Mortgage --- ### [Warwick & Suzanna K, Mudjimba, QLD](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/) **Published:** July 20, 2020 **Author:** Brad Kirwan **Content:** *Brad has been amazing to deal with, professional with clear communication and the best outcome for his clients in mind throughout the loan process. We look forward to recommending Brad to friends and family and working with Brad on our next future purchase.* Warwick & Suzanna K, Mudjimba, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Warwick%20%26%20Suzanna%20K%2C%20Mudjimba%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fwarwick-suzanna-k-mudjimba-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/warwick-suzanna-k-mudjimba-qld/#print?share=print) - **Categories:** Mortgage --- ### [Sinead K & Brian G, Mermaid Beach, QLD](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/) **Published:** July 29, 2019 **Author:** Brad Kirwan **Content:** *As first home buyers, Brad provided a fantastic service for us. I highly recommend using Ocean Home Loans!* Sinead K & Brian G, Mermaid Beach, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Sinead%20K%20%26%20Brian%20G%2C%20Mermaid%20Beach%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsinead-k-brian-g-mermaid-beach-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/sinead-k-brian-g-mermaid-beach-qld/#print?share=print) - **Categories:** Mortgage --- ### [Radhika M & Hisham Y, Carrara, QLD](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/) **Published:** November 6, 2019 **Author:** Brad Kirwan **Content:** *Brad was very professional and super helpful, he helped my partner and I purchase our first home when we didn’t think we could. He was always available to answer our calls or any questions at any time. Thank You, Brad, we appreciate all your hard work and dedication you went an extra mile for us!! Highly recommend his services.* Radhika M & Hisham Y, Carrara, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Radhika%20M%20%26%20Hisham%20Y%2C%20Carrara%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fradhika-m-hisham-y-carrara-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/radhika-m-hisham-y-carrara-qld/#print?share=print) - **Categories:** Mortgage --- ### [Paul and Christina W, Lower Beechmont, QLD](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/) **Published:** August 19, 2019 **Author:** Brad Kirwan **Content:** *I would like to thank Brad of Ocean Home Loans for his persistence and for making the entire process seem quite effortless. From the beginning, until the final payments to the builder Brad was on top of everything . Thanks very much – Paul and Christina W* Paul and Christina W, Lower Beechmont, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Paul%20and%20Christina%20W%2C%20Lower%20Beechmont%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fpaul-and-christina-w-lower-beechmont-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/paul-and-christina-w-lower-beechmont-qld/#print?share=print) - **Categories:** Mortgage --- ### [Karen & Ricky G, Holland Park West, QLD](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/) **Published:** August 7, 2019 **Author:** Brad Kirwan **Content:** *Brad has been tremendous to deal with. He took all the confusion out of the whole process and explained every step clearly. He always made himself available to us and nothing was ever too much trouble. Extremely happy that we found Brad and Ocean Home Loans* Karen & Ricky G, Holland Park West, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Karen%20%26%20Ricky%20G%2C%20Holland%20Park%20West%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fkaren-ricky-g-holland-park-west-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/karen-ricky-g-holland-park-west-qld/#print?share=print) - **Categories:** Mortgage --- ### [Chris & Anja B, Carrara, QLD](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/) **Published:** April 23, 2019 **Author:** Brad Kirwan **Content:** *Brad is extremely responsive and always available. He breaks things down so they’re easy to understand.* Chris & Anja B, Carrara, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Chris%20%26%20Anja%20B%2C%20Carrara%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fchris-anja-b-carrara-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/chris-anja-b-carrara-qld/#print?share=print) - **Categories:** Mortgage --- ### [Michael & Toki B, Two Wells, SA](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/) **Published:** April 17, 2019 **Author:** Brad Kirwan **Content:** *We live in South Australia and found it hard here with brokers. So we contacted Brad from ocean home loans he was very fast and extremely helpful our application was very fast and successful so we know exactly who to use next time.* Michael & Toki B, Two Wells, SA ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Michael%20%26%20Toki%20B%2C%20Two%20Wells%2C%20SA&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmichael-toki-b-two-wells-sa%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/michael-toki-b-two-wells-sa/#print?share=print) - **Categories:** Mortgage --- ### [Scott & Phoebe W, Mackenzie, QLD](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/) **Published:** April 11, 2019 **Author:** Brad Kirwan **Content:** *Brad at Ocean Home Loans was great. Having your own business can make it more difficulty for finance but he found the right solution for our investment loan. Brad made it easy for us to get the right setup and answered any questions with ease and patience while we house shopped. If you are looking for a broker who goes the extra mile then we recommend Brad. Regards Scott and Phoebe.* Scott & Phoebe W, Mackenzie, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Scott%20%26%20Phoebe%20W%2C%20Mackenzie%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fscott-phoebe-w-mackenzie-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/scott-phoebe-w-mackenzie-qld/#print?share=print) - **Categories:** Mortgage --- ### [Mark & Kim, Upper Coomera, QLD](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** *Have been dealing with Brad for several years. He has arranged an owner mortgage and a investment mortgage for me. I was extremely happy with the help and assist given during this process. He is a true professional where nothing seems too hard. Highly recommend for your next mortgage or loan advise.* Mark & Kim, Upper Coomera, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Mark%20%26%20Kim%2C%20Upper%20Coomera%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmark-kim-upper-coomera-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/mark-kim-upper-coomera-qld/#print?share=print) - **Categories:** Mortgage --- ### [Steve & Sarah K, Mudgeeraba, QLD](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/) **Published:** June 17, 2014 **Author:** Brad Kirwan **Content:** *Brad went above and beyond to ensure that we got the home loan we were after. We would highly recommend Ocean home loans to anyone that requires a loan.* Steve & Sarah K, Mudgeeraba, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Steve%20%26%20Sarah%20K%2C%20Mudgeeraba%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsteve-sarah-k-mudgeeraba%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/steve-sarah-k-mudgeeraba/#print?share=print) - **Categories:** Mortgage --- ### [Gavin & Jackie D, Forster, NSW](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/) **Published:** April 5, 2018 **Author:** Brad Kirwan **Content:** *Would like to thank Brad for all his time and effort with our Investment Loan Application. Ours wasn’t a straight forward application, but Brad was able to over come my previous issues. Never thought I would own another home/property, or be able to purchase one with my wife but Brad went the extra mile to ensure that this was actually a reality. Easy to talk to, always keeps you informed on where the loan application process is up to. Highly recommended to use Brad and his services.* Gavin & Jackie D, Forster, NSW ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Gavin%20%26%20Jackie%20D%2C%20Forster%2C%20NSW&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fgavin-jackie-d-forster-nsw%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/gavin-jackie-d-forster-nsw/#print?share=print) - **Categories:** Mortgage --- ### [Amanda & Chris J, Canungra, QLD](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/) **Published:** March 8, 2018 **Author:** Brad Kirwan **Content:** *We first used Brad at Ocean Home Loans 5 years ago. We contacted him again because we remembered how good he was and how helpful he was at the time. We had forgotten how quick and thorough he was though. Brad doesn’t miss a trick or waste any time at all. He knows the right product for his clients and is in constant contact every step of the way and kept us updated the whole way through so we always knew exactly what was happening and when. We will never think of using anyone else again in the future with Brad’s high level of service. Amanda & Chris Scenic Rim Area* Amanda & Chris J, Canungra, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Amanda%20%26%20Chris%20J%2C%20Canungra%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Famanda-chris-j-canungra-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/amanda-chris-j-canungra-qld/#print?share=print) - **Categories:** Mortgage --- ### [Todd C, Varsity Lakes, QLD](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/) **Published:** February 9, 2018 **Author:** Brad Kirwan **Content:** *We where involved in an on the spot multiple offer situation. I called Brad and he guided us through. It was great to have his knowledge and it gave us the confidence in a very un-familiar situation. Going forward he would give us regular updates and coordinated between us and the bank to make everything very stress free. I have recommended his services to my friends and colleagues* Todd C, Varsity Lakes, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Todd%20C%2C%20Varsity%20Lakes%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Ftodd-c-varsity-lakes-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/todd-c-varsity-lakes-qld/#print?share=print) - **Categories:** Mortgage --- ### [Peter H, Whittlesea, VIC](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/) **Published:** October 23, 2017 **Author:** Brad Kirwan **Content:** *Brad was so helpful that it made for a very easy time for me I would highly recommend Ocean Home loans* Peter H, Whittlesea, VIC ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Peter%20H%2C%20Whittlesea%2C%20VIC&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fpeter-h-whittlesea-vic%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/peter-h-whittlesea-vic/#print?share=print) - **Categories:** Mortgage --- ### [Sam & Saul J, Quinns Rocks, WA](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/) **Published:** October 17, 2017 **Author:** Brad Kirwan **Content:** *Brad Kirwan was really helpful and always available when needed even out of working hours.* Sam & Saul J, Quinns Rocks, WA ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Sam%20%26%20Saul%20J%2C%20Quinns%20Rocks%2C%20WA&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsam-saul-j-quinns-rocks-wa%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/sam-saul-j-quinns-rocks-wa/#print?share=print) - **Categories:** Mortgage --- ### [Penne M, Oxenford, QLD](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/) **Published:** July 3, 2017 **Author:** Brad Kirwan **Content:** *Brad was great to work with. Worked in with my hours at work. Kept me in the loop all the way with the banks. Happy to explains thing in layman terms and was very professional in his approach to the whole experience. I would recommend him to anyone that wanted a professional broker to work with and get the right result.* Penne M, Oxenford, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Penne%20M%2C%20Oxenford%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fpenne-m-oxenford-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/penne-m-oxenford-qld/#print?share=print) - **Categories:** Mortgage --- ### [Simon & Denok E, Sassafras, TAS](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/) **Published:** May 23, 2017 **Author:** Brad Kirwan **Content:** *We thought we had hit a dead end because of my bankruptcy many years ago. It seemed that despite having a flawless credit rating for over 7 years the stigma was hanging on. Brad found the solution and here we are happily living in our new home. I could not praise Brad more highly for his professionalism!* Simon & Denok E, Sassafras, TAS ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Simon%20%26%20Denok%20E%2C%20Sassafras%2C%20TAS&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fsimon-denok-e-sassafras-tas%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/simon-denok-e-sassafras-tas/#print?share=print) - **Categories:** Mortgage --- ### [Matt & Simmone R, Woodberry, NSW](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/) **Published:** May 3, 2017 **Author:** Brad Kirwan **Content:** *I highly recommend Ocean Home Loans, while other lenders said no, Brad and his team said not a problem. Help was provided right through the entire process.* Matt & Simmone R, Woodberry, NSW ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Matt%20%26%20Simmone%20R%2C%20Woodberry%2C%20NSW&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmatt-simmone-r-woodberry-nsw%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/matt-simmone-r-woodberry-nsw/#print?share=print) - **Categories:** Mortgage --- ### [Barbara N, Ivanhoe, VIC](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/) **Published:** April 6, 2017 **Author:** Brad Kirwan **Content:** *Brad was extremely professional and helpful. I also found Brad very efficient and knowledgeable. I will use Ocean Home Loans again.* Barbara N, Ivanhoe, VIC ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Barbara%20N%2C%20Ivanhoe%2C%20VIC&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fbarbara-n-ivanhoe-vic%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/barbara-n-ivanhoe-vic/#print?share=print) - **Categories:** Mortgage --- ### [Megan M, Southport, QLD](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/) **Published:** February 2, 2017 **Author:** Brad Kirwan **Content:** *Knowledgeable, flexible and a pleasure to deal with. Brad knows his stuff and doesn’t waste your time.* Megan M, Southport, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Megan%20M%2C%20Southport%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmegan-m-southport-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/megan-m-southport-qld/#print?share=print) - **Categories:** Mortgage --- ### [Kristy W, Brookvale, NSW](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/) **Published:** November 29, 2016 **Author:** Brad Kirwan **Content:** *I have used Brad’s services at Ocean Home Loans for 2 properties and found the process uncomplicated and easy. Brad was always available and walked us through each step, right up to the end and even checked in post settlement to make sure we were OK. I would recommend Brad to all my friends and will use his services again in the future.* Kristy W, Brookvale, NSW ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Kristy%20W%2C%20Brookvale%2C%20NSW&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fkristy-w-brookvale-nsw%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/kristy-w-brookvale-nsw/#print?share=print) - **Categories:** Mortgage --- ### [Donna & Justin S, Cedar Grove, QLD](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/) **Published:** October 7, 2016 **Author:** Brad Kirwan **Content:** *Brad was fantastic right from our initial phone conversation to our new house settlement I would not hesitate in recommending ocean home loans.* Donna & Justin S, Cedar Grove, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Donna%20%26%20Justin%20S%2C%20Cedar%20Grove%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fdonna-justin-s-cedar-grove-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/donna-justin-s-cedar-grove-qld/#print?share=print) - **Categories:** Mortgage --- ### [Prabu R, Waterloo, NSW](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/) **Published:** September 12, 2016 **Author:** Brad Kirwan **Content:** *I had liaised with several brokers in an attempt to consolidate a lot of unsecured debt I had in the form of credit cards and personal loans. Brad was the only one who was able to fully understand my situation and was able to obtain a suitable option for me to refinance my current home loan and get it across the line.* Prabu R, Waterloo, NSW ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Prabu%20R%2C%20Waterloo%2C%20NSW&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fprabu-r-waterloo-nsw%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/prabu-r-waterloo-nsw/#print?share=print) - **Categories:** Mortgage --- ### [Derek U, Loganholme, QLD](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/) **Published:** September 9, 2016 **Author:** Brad Kirwan **Content:** *Buying your first home and obtaining the loan can be a daunting prospect but Brad from Ocean Home Loans made the whole process very streamlined and stress free. I found Brad to be very prompt and knowledgeable in assessing my needs. I can highly recommend Ocean Home Loans and will be using them in any future property purchases when the time arises. Derek Uren.* Derek U, Loganholme, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Derek%20U%2C%20Loganholme%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fderek-u-loganholme-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/derek-u-loganholme-qld/#print?share=print) - **Categories:** Mortgage --- ### [Ann W, Bangkok, Thailand](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/) **Published:** June 24, 2016 **Author:** Brad Kirwan **Content:** *The circumstances around applying for an investment loan were complicated given that I’m currently living overseas. Brad was extremely responsive, detailed and organized in his recommendation on how to proceed as well as advising on all documentation required to ensure a successful application. I’ve already referred him to friends and will use him again for future real estate investments.* Ann W, Bangkok, Thailand ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Ann%20W%2C%20Bangkok%2C%20Thailand&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fann-w-bangkok-thailand%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/ann-w-bangkok-thailand/#print?share=print) - **Categories:** Mortgage --- ### [Tarun G, Kurunjang, VIC](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/) **Published:** April 21, 2016 **Author:** Brad Kirwan **Content:** *Hi my name is tarun. I called Brad from ocean homeloans after I was rejected by other brokers as I was temporary resident and my credit history was bad. Brad understood my case. He guided me properly through the whole process and got my home loan approved. He knew what he was doing and moreover he was responding to my emails which I was sending* Tarun G, Kurunjang, VIC ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Tarun%20G%2C%20Kurunjang%2C%20VIC&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Ftarun-g-kurunjang-vic%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/tarun-g-kurunjang-vic/#print?share=print) - **Categories:** Mortgage --- ### [Josh & Steph W, Maudsland, QLD](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/) **Published:** January 5, 2016 **Author:** Brad Kirwan **Content:** *Brad at Ocean Home Loans went above and beyond in helping us purchase our second property, his advice and expertise was very reassuring, if we had any question or query he would go out of his way to get the answer as soon as he could. I would and will be referring anyone who is looking to purchase a property in an instant.* *Regards Josh Woods* Josh & Steph W, Maudsland, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Josh%20%26%20Steph%20W%2C%20Maudsland%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fjosh-steph-w-maudsland-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/josh-steph-w-maudsland-qld/#print?share=print) - **Categories:** Mortgage --- ### [Catherine & Derek A, Molendinar, QLD](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/) **Published:** June 17, 2014 **Author:** Brad Kirwan **Content:** *Thank you Brad we found you to be very helpful and friendly, thankyou so much. Derek & Catherine* Catherine & Derek A, Molendinar, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Catherine%20%26%20Derek%20A%2C%20Molendinar%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fcatherine-derek-a-molendinar%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/catherine-derek-a-molendinar/#print?share=print) - **Categories:** Mortgage --- ### [Ben S, Benowa, QLD](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/) **Published:** July 18, 2014 **Author:** Brad Kirwan **Content:** *Excellent service. Dealt with Brad Kirwan who was outstanding, never minded the emails or phone calls regarding clarification. Came around after hours to assist. Offered to come into workplace to drop forms off. Even arranged a congratulations gift after everything was settled, great personal touch that was never expected! Outstanding to work with and have already reccommended Brad to a work colleague. Thanks. Ben.* Ben S, Benowa, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Ben%20S%2C%20Benowa%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fben-s-benowa-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/ben-s-benowa-qld/#print?share=print) - **Categories:** Mortgage --- ### [Richele & Robert, Gilston, QLD](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/) **Published:** October 16, 2014 **Author:** Brad Kirwan **Content:** *We have been extremely happy with the professional service Brad has offered us throughout the build of our first home. He has always been happy to answer any questions we had, responded to emails promptly and if he didn’t have the answer we needed, he searched for it and responded appropriately. We have already referred Brad to our friends and would not hesitate to recommend him again and again!* Richele & Robert, Gilston, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Richele%20%26%20Robert%2C%20Gilston%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Frichele-robert-gilston%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/richele-robert-gilston/#print?share=print) - **Categories:** Mortgage --- ### [Deon & Danielle, Huntfield Heights, SA](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/) **Published:** October 16, 2014 **Author:** Brad Kirwan **Content:** *For us Brad was the only one willing to take us on out of all the people we tried to contact regarding our circumstances, Brad was very professional, helpful and knew what he was talking about, even though he was in a different state he made everything happen and we we got approved for our home loan. Thanks Deon* Deon & Danielle, Huntfield Heights, SA ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Deon%20%26%20Danielle%2C%20Huntfield%20Heights%2C%20SA&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fdeon-danielle-huntfield-heights-sa%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/deon-danielle-huntfield-heights-sa/#print?share=print) - **Categories:** Mortgage --- ### [Rachel & Ricky W, Tamborine Mountain, QLD](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/) **Published:** March 24, 2015 **Author:** Brad Kirwan **Content:** *Brad was great to work with, very understanding of our needs, very accommodating and helpful. Nothing seemed to be too much trouble. I would definitely recommend him to others* Rachel & Ricky W, Tamborine Mountain, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Rachel%20%26%20Ricky%20W%2C%20Tamborine%20Mountain%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Frachel-ricky-w-tamborine-mountain%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/rachel-ricky-w-tamborine-mountain/#print?share=print) - **Categories:** Mortgage --- ### [Katie & Leigh G, Varsity Lakes, QLD](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/) **Published:** March 10, 2016 **Author:** Brad Kirwan **Content:** *Ocean Home Loans have assisted my husband and I over many years in sourcing the best home loan products for our needs. Brad’s extensive experience in the finance and banking industry make him a real asset when finding the best possible solution tailored to your individual needs. He offers honest, reliable advice and has never steered us wrong, I would highly recommend Ocean Home Loans.* Katie & Leigh G, Varsity Lakes, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Katie%20%26%20Leigh%20G%2C%20Varsity%20Lakes%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fkatie-leigh-g-varsity-lakes-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/katie-leigh-g-varsity-lakes-qld/#print?share=print) - **Categories:** Mortgage --- ### [Tania & Jason B, Mackay, QLD](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/) **Published:** February 4, 2016 **Author:** Brad Kirwan **Content:** *Highly recommend Brad, so easy to deal with, all questions answered in easy to understand terms, always available for help or last minute questions – fabulous service.* Tania & Jason B, Mackay, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Tania%20%26%20Jason%20B%2C%20Mackay%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Ftania-jason-b-mackay-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/tania-jason-b-mackay-qld/#print?share=print) - **Categories:** Loans --- ### [Michael & Marion C, Mildura, VIC](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/) **Published:** January 18, 2016 **Author:** Brad Kirwan **Content:** *We would like to thank Brad for all his help. We are so thankful that Brad believed in us and didn’t judge us. Brad’s advise and assistance was and is very valuable. We honestly don’t think we would have never purchased a home again if we hadn’t found Ocean Home Loans. We highly recommend Ocean Home Loans to anyone. Brad steered us to successfully getting approved for a home loan. He guided us through the complete pre approval and contract to ensure we did everything correctly. Thank you Brad, gratefully appreciated.* Michael & Marion C, Mildura, VIC ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Michael%20%26%20Marion%20C%2C%20Mildura%2C%20VIC&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmichael-marion-c-mildura-vic%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/michael-marion-c-mildura-vic/#print?share=print) - **Categories:** Mortgage --- ### [Valerio B, South Bank, VIC](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/) **Published:** May 7, 2015 **Author:** Brad Kirwan **Content:** *Brad is the best – He has helped me a lot – always extremely responding, precise and caring. To choose him was the best choice ever. Great Guy and Excellent Professional.* Valerio B, South Bank, VIC ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Valerio%20B%2C%20South%20Bank%2C%20VIC&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fvalerio-b-south-bank-vic%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/valerio-b-south-bank-vic/#print?share=print) - **Categories:** Mortgage --- ### [Matt B & Sarah M, Caloundra West, QLD](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/) **Published:** October 2, 2015 **Author:** Brad Kirwan **Content:** *Brad from Ocean Home Loans was very helpful. He always answered my emails and messages quickly. There was never any dramas with the loan application even while I was overseas working* Matt B & Sarah M, Caloundra West, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Matt%20B%20%26%20Sarah%20M%2C%20Caloundra%20West%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fmatt-b-sarah-m-caloundra-west-qld%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/matt-b-sarah-m-caloundra-west-qld/#print?share=print) - **Categories:** Mortgage --- ### [Leigh & Katie G, Nerang, QLD](https://www.oceanhomeloans.com.au/testimonial/leigh-katie-g-nerang/) **Published:** September 3, 2013 **Author:** Brad Kirwan **Content:** *Brad, Thanks for your continued support, it is greatly appreciated.* Leigh & Katie G, Nerang, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/leigh-katie-g-nerang/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/leigh-katie-g-nerang/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/leigh-katie-g-nerang/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/leigh-katie-g-nerang/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/leigh-katie-g-nerang/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/leigh-katie-g-nerang/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Leigh%20%26%20Katie%20G%2C%20Nerang%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fleigh-katie-g-nerang%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/leigh-katie-g-nerang/#print?share=print) - **Categories:** Mortgage --- ### [Paul & Pamela, Varsity Lakes, QLD](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/) **Published:** September 3, 2013 **Author:** Brad Kirwan **Content:** *I located Brad Kirwan of Ocean Loans on the Internet, as his webpage was professional and he was local to our vicinity. Brad I found to very professional, friendly and positive in obtaining the home loan that suited our needs. He took great care in ensuring our conveyance went smoothly, and took way the hassle of dealing with separate loan providers, and ensured we obtained the impartial advice required to purchase our first home in Australia.* Paul & Pamela, Varsity Lakes, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Paul%20%26%20Pamela%2C%20Varsity%20Lakes%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fpaul-pamela-varsity-lakes%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/paul-pamela-varsity-lakes/#print?share=print) - **Categories:** Mortgage --- ### [Chris & Amanda, Gold Coast, QLD](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** *We would like to thank Brad for his hard work, he did ALL our running around for us and we would not be where we are today without him. He explained everything to us and made sure we understood everything before we moved forward. He is very clear and and great at explaining the way Government Grants and Legislation works. We were not the usual customer, originating from overseas with foreign business and property Brad took us on when other big name banks would not even speak to us. We are so happy with his service and will be going to Ocean Home Loans in the future.* Chris & Amanda, Gold Coast, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Chris%20%26%20Amanda%2C%20Gold%20Coast%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fchris-amanda-gold-coast%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/chris-amanda-gold-coast/#print?share=print) - **Categories:** Mortgage --- ### [Shannon & Kirrilly, Bracken Ridge, QLD](https://www.oceanhomeloans.com.au/testimonial/shannon-kirrilly-bracken-ridge/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** *Brad, thank you again for all your help and patience, we really do appreciate it.* Shannon & Kirrilly, Bracken Ridge, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/shannon-kirrilly-bracken-ridge/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/shannon-kirrilly-bracken-ridge/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/shannon-kirrilly-bracken-ridge/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/shannon-kirrilly-bracken-ridge/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/shannon-kirrilly-bracken-ridge/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/shannon-kirrilly-bracken-ridge/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Shannon%20%26%20Kirrilly%2C%20Bracken%20Ridge%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fshannon-kirrilly-bracken-ridge%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/shannon-kirrilly-bracken-ridge/#print?share=print) - **Categories:** Mortgage --- ### [Anna C, Brighton, QLD](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** *Just thought I would let you know that we finally moved into our beautiful new home on the weekend. We are still renovating around us but it’s definitely worth it. Thank you for all your hard work in finding us the perfect loan* Anna C, Brighton, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Anna%20C%2C%20Brighton%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fanna-c-brighton%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/anna-c-brighton/#print?share=print) - **Categories:** Mortgage --- ### [Yaan, Bonogin, QLD](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/) **Published:** September 5, 2013 **Author:** Brad Kirwan **Content:** *A few years ago Brad helped us secure our loan for a build. 4 years on, we still call on Brad for all our loan needs. Always available to discuss any questions we may have, always ready to assist us in getting the best package for our needs. I couldn’t recommend Brad any higher and we look forward to dealing with him in the future.* Yaan, Bonogin, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Yaan%2C%20Bonogin%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fyaan-bonogin%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/yaan-bonogin/#print?share=print) - **Categories:** Mortgage --- ### [Vicki & Andrew B, Cedar Vale, QLD](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/) **Published:** May 21, 2014 **Author:** Brad Kirwan **Content:** *In this day and age where customer service is lacking, we were so grateful for the prompt and professional service provided by Brad of Ocean Home Loans. Nothing was too much trouble, Brad travelled over an hour to meet with us and always answered any queries promptly, often after hours. We can’t speak highly enough of Brad’s service, attention to detail and obvious knowledge of lending products. As a result we recently settled into our new home and will happily recommend Brad to anyone looking to purchase a home or refinance. Thanks Brad, we really appreciate everything you did for us.* Vicki & Andrew B, Cedar Vale, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Vicki%20%26%20Andrew%20B%2C%20Cedar%20Vale%2C%20QLD&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fvicki-andrew-b-cedar-vale%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/vicki-andrew-b-cedar-vale/#print?share=print) - **Categories:** Mortgage --- ### [Peter S, Dubai, UAE](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/) **Published:** May 20, 2015 **Author:** Brad Kirwan **Content:** *It is a pleasure to provide this recommendation about Ocean Home Loans. I am an Australian living overseas, seeking help with homes loans is not always straight forward, but working with Brad Kirwan I found that he was motivated, honest, professional and he took the time to work through complex issues and provide the best solution. Brad’s perseverance and professional guidance was greatly appreciated and will not be forgotten.* Peter S, Dubai, UAE ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/?share=reddit) - [ Email a link to a friend (Opens in new window) Email](mailto:?subject=%5BShared%20Post%5D%20Peter%20S%2C%20Dubai%2C%20UAE&body=https%3A%2F%2Fwww.oceanhomeloans.com.au%2Ftestimonial%2Fpeter-s-dubai-uae%2F&share=email) - [ Print (Opens in new window) Print](https://www.oceanhomeloans.com.au/testimonial/peter-s-dubai-uae/#print?share=print) - **Categories:** Mortgage --- ### [Wendy & Jeremy M, Bilinga, QLD](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/) **Published:** October 1, 2015 **Author:** Brad Kirwan **Content:** *Brad was very helpful. We were purchasing our first home so we didn’t know too much but he thoroughly explained all our options and kept us informed the whole time. We definitely be using him again.* Wendy & Jeremy M, Bilinga, QLD ### Share this: - [ Share on Facebook (Opens in new window) Facebook](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/?share=facebook) - [ Share on X (Opens in new window) X](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/?share=twitter) - [ Share on LinkedIn (Opens in new window) LinkedIn](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/?share=linkedin) - [ Share on Tumblr (Opens in new window) Tumblr](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/?share=tumblr) - [ Share on Pinterest (Opens in new window) Pinterest](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/?share=pinterest) - [ Share on Reddit (Opens in new window) Reddit](https://www.oceanhomeloans.com.au/testimonial/wendy-jeremy-m-bilinga-qld/?share=reddit) - [ Email a link to a friend (Opens in new window) 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