Does Your Mortgage Rate Start with a Three?

Gino Farina Refinancing

With such a wide range of mortgage products available today, it can be overwhelming trying to work out the pros and cons, and if the mortgage you have is the best option for you. In the current home loan environment, the general rule of thumb is that the rate should start with a three. However, if it doesn’t and you’re …

The Current Property Market and National Housing Outlook

Gino Farina Property Updates

National Dwelling Values Fall by Half a Percent in October According to the CoreLogic Home Value Index results for October 2018, tighter credit conditions and lower dwelling values across Australia have contributed to slower housing activity, with the annual decline across the nation at 3.5%, and the home value index reporting a 0.5% fall in dwelling values nationally in October. …

Reverse Mortgages

Gino Farina Other Loans

What is a Reverse Mortgage? Reverse mortgages let pensioners and retirees from the age of 60 convert the equity in their property into cash. No income is required to qualify but credit providers are required by the law to lend money responsibly, so not everyone will be able to access this type of loan. Although interest is charged as with …

What Are Buyer’s Agents and How Can They Help You?

Gino Farina Services

What is a Buyer’s Agent? A buyer’s agent is a licenced real estate professional that specialises in searching, locating, evaluating and negotiating the purchase of a property on behalf of a prospective home buyer. In a real estate transaction, a real estate agent works for the vendor and a buyer’s agent represents the interests of the buyer. Benefits of Engaging …

My Financial Health

Gino Farina Money

This month, I have launched the first element of the My Financial Health Program, a secure online portal where you can store all of your personal finances and manage them either at home or on the go. The Wealth Portal uses the latest technology and bank level security to provide a platform where you can organise and analyse your finances, …

Buy Your First Home with the First Home Super Saver Scheme

Gino Farina First Home Buyers

The First Home Super Saver Scheme First homebuyers across Australia have a new way to get into the property market with the First Home Super Saver (FHSS) Scheme. Introduced on July 1 2017, the First Home Super Saver (FHSS) Scheme lets homebuyers access money from their superannuation fund to help them secure their first home. How it works is that …

Be Aware of Changes to Self-Managed Super Fund Loans

Gino Farina SMSF Lending

What is a Self-Managed Super Fund? A Self-Managed Super Fund (SMSF) is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself. Set up costs and annual running expenses can be high, so it’s most cost-effective if you have a larger superannuation balance. A common reason for starting a SMSF is greater access to a …

Current Interest Rate Moves and How They Affect You

Gino Farina Interest rates

Banks Increase Rates, RBA Keeps Cash Rate at 1.5 Percent At it’s October meeting, the Reserve Bank of Australia (RBA) kept the cash rate at a record low of 1.5 percent, extending its record period of policy inaction beyond two years. Even though the RBA is not expected to raise official interest rates in the near future, both smaller and …

Comprehensive Credit Reporting and What It Means for You

Gino Farina Money

From July 1 2018, Comprehensive Credit Reporting (CCR) was introduced, making it mandatory for the big four banks to share information with regards to your credit report, benefiting both lenders and consumers. Lenders will be able to see a more accurate picture of your ability to make repayments and manage your credit, while consumers’ can have a more active influence …

Tips for Taking Out a Home Loan in the Current Lending Environment

Gino Farina Home Loans

In the current home loan lending environment, the duration of loan approvals for some borrowers has increased significantly as lenders increase their restrictions and scrutiny on applications as a result of APRA and the Banking Royal Commission. This has made it harder than ever for some to get finance. Before you look to purchase a home, ensure you use an …