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 …

Refinance Your Home Loan or Get a Better Rate?

Gino Farina Refinancing

Refinancing a home loan can potentially save you a lot of money. However, refinancing, or moving your mortgage to another lender, is not always the best option. Sometimes there are many hidden costs to switching, and improving the rate through your current lender can save you both time and money. How Can a Finance Specialist Help You Save Money on …

5 Tips for Getting into the Property Market

Gino Farina Real Estate Market

With house prices high, accumulating enough funds for a deposit can at times seem overwhelming. Though broken down into achievable steps, these tips can help you get into the market and achieve your first property purchase. 1. Set a Clear Goal When setting any goal, it is important to make it achievable. Ensure you start with a realistic budget in …

Self Employed and Thinking of Getting a Mortgage?

Gino Farina Self Employed Leave a Comment

While there are many lenders who will provide mortgages for the self employed, there are a few things you will need to be aware of before starting the process. Paperwork Requirements The evidence of income between employees and self employed people is vastly different. If you are self employed, most lenders will need copies of your tax returns, business activity …

Welcome to 2018, the Year of the Dog

Gino Farina General

Can you believe that another year has passed? If you haven’t yet followed through on any financial resolutions from 2017, let’s try a reset with a few tips to create new habits in 2018: Start with a goal. Whether it’s buying a home, building an investment portfolio, planning for retirement or even going on a holiday with the family, you …