The Difference Between a Credit Score and Credit Report

Gino Farina General

If you’ve applied for or used credit, then you are likely to have a credit report and a credit score, referred to as your credit profile. It’s a way for Australian credit providers, such as banks and credit card companies, to help work out how likely it is you’ll be able to repay a loan. Your credit report and score …

5 Things to Know Before Buying Your First Home

Gino Farina First Home Buyers

Buying a house is one of the biggest achievements and scariest things you’ll ever do. It can also be a very exciting time, however there are a few things you need to consider before you take the homeowner plunge. 1. Buy a House You Can Afford Don’t fall into the trap of borrowing more than you can afford to buy …

Federal Budget Overview

Gino Farina Money

On 2 April 2019, the Government handed down the 2019-20 Federal Budget. The focus of the Budget is for a stronger economy and securing a better future. The changes proposed in this year’s Budget are minimal in number compared to prior years, and largely positive, which is no surprise in an election year. Changes include updates to personal taxation thresholds …

Buying or Selling? Review the March Property Clock

Gino Farina Real Estate Market

If you’re looking to buy or sell, the Herron Todd White (HTW) Residential Property Report is a great reference tool. Their property clock is a good visual representation of the state of the property market and its cycles. The March national property clocks for houses and units are included below, along with detail on how it works and to best …

Current Issues Faced by Small Business Accessing Finance

Gino Farina Self Employed

Many small businesses looking to grow find it hard to access finance. Lenders say that they are keen to lend to small businesses, but that unsecured finance involves more risk. This article outlines some initiatives that could help to improve access to finance for small businesses. Issues with Obtaining Finance as a Small Business The proportion of small businesses that …

Property Investors Hit Hard by Falling Prices and Tighter Credit

Gino Farina Property Investors

Investors are big players in Australia’s property market, representing about 42 per cent of total mortgage demand. In the days of the property boom, they reigned supreme with their superior purchasing power. They had willing banks and favourable tax laws working for them, increasing property prices and capital gains. However, the banks’ tighter lending policies in the wake of the …

Summary of the Key Findings of the Banking Royal Commission Final Report

Gino Farina Home Loans

This month, the findings of the damning final report from the Banking Royal Commission into the financial services industry were handed down. High Court justice and royal commissioner Kenneth Hayne unveiled 76 recommendations for key aspects of the banking, superannuation, financial advice, and the rural lending industries. While the final report totals 530 pages, a quick summary of the recommendations …

Be Aware of Major Changes to How Living Expenses Impact Borrowing

Gino Farina Home Loans

In response to regulator intervention and the influence of the Royal Commission findings, the past few months have seen big changes when it comes to borrowing. The regulator now expects banks and other lending institutions to conduct a detailed assessment of the spending habits and living expenses for anyone looking to change their lending or enter a new borrowing arrangement. …

How to Improve the Performance of Your Superannuation

Gino Farina Money

Have you checked the performance of your super lately? Is all your super combined into the one fund? Do you even know where to start? In light of recent industry changes, now is a great time to look into your super and make sure it’s performing for you. Superannuation in the Current Climate In recent months, workers have reacted to …

New Year’s Financial Tips

Gino Farina Money

There are a few key ways you can take control of your finances to achieve your money goals in 2019. Tip 1: Set Your Money Goals for the Year What are your money goals for this year? You need to make them specific, achievable and give yourself a timeframe to achieve them. Once you have your goals, you need to …