background preloader


Facebook Twitter

Brad Kirwan

I have been helping people with their home and investment finances since 2004. I am based on the Gold Coast but no matter where you are in Australia I can assist you with all your home loan needs.

Another month with no movement in Interest Rates. 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.

Another month with no movement in Interest Rates

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.


Granny Flats – Turn your own home into a Rental Property. 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.

Granny Flats – Turn your own home into 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’. Interest Rates to remain stable – Confidence in property on the rise. 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.

Interest Rates to remain stable – Confidence in property on the rise

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. Markets predict interest rates to remain stable Like this:

A well maintained Investment Property is a must. 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.

A well maintained Investment Property is a must

After all, a properly maintained property will not only ensure that you have contented tenants 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. How do Offset Account Home Loans work? 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.

How do Offset Account Home Loans work?

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.

Fixed or Variable Rates – but why not a Split Rate Loan. 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.

Fixed or Variable Rates – but why not a 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. Variable rates offer greater flexibility, free from the rigid terms associated with fixed loans. Not Sure? Getting your Finances ready – A Home Loan Pre Approval. 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.

Getting your Finances ready – A Home Loan Pre Approval

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. Product Focus – Reverse Mortgage Seniors Equity Release. A reverse mortgage is usually structured as a loan secured with a first mortgage on residential property.

Product Focus – Reverse Mortgage Seniors Equity Release

Unlike a traditional mortgage, no repayments are due until all borrowers permanently vacate the property (hence the term “lifetime mortgage”). This will usually be when all borrowers have passed away, moved into long-term aged care, or the property has been sold, at which point the lender will seek repayment of the funds owing. Funds released via the loan can be taken as a single lump sum, a series of instalments or drawn down under a line of credit facility. The options available vary with each lender. Whilst lenders will accept voluntary repayments, no regular repayments are required.

Self-Employed – a Low Doc Home Loan could be the answer. For many Australians, self employment can allow flexibility and more freedom.

Self-Employed – a Low Doc Home Loan could be the answer

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. A Simple Home Loan Mortgage Reduction Technique.

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 Home Loan Mortgage Reduction Technique

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.

RBA stays on the fence – interest rates remain on hold. 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”.

Taking the stress out of Home Loan applications. 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. Lender Special $1,250 Home Loan Refinance Rebate Extended. One of our panel of over 30 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? Product focus: Refinancing. 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? How do you find the ideal tenants for your rental property? 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. The rise of Apartment living – an Investment Property opportunity. 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. Interest Rates To fix or not to fix – that IS the question. 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%. Home Loan Mortgage Market Update. It’s looking positive for the mortgage market in 2014.

Home loan enquiries reached four-year highs in the fourth quarter of 2013 and they are forecast to continue rising in the near term, according to Veda Insights. All states saw year-on-year growth in terms of volume of mortgage enquiries, according to Veda’s Quarterly Consumer Credit Demand Index, enquiries rose by 15.3 per cent year-on-year, and four states enjoyed double-digit growth: New South Wales with 22.2 per cent, Victoria with 15.2 per cent, and Queensland and Western Australia, both with 11.9 per cent.

9 Tips to set you on the path to Investment Property Success. 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. How to be a fully prepared First Time Home Buyer. Self Employed Home Loan – using add backs to incease your borrowing capacity. SMSF Borrowing – When is a Super Fund allowed to borrow to invest. 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:

Have you Selected your Investment Property Dream Team. 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. RBA sits on the sidelines as Interest Rates remain on hold. 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. Mortgage Broker or Bank Lending Manager – Who would you use? Have we seen the last cuts to Interest Rates – the RBA thinks so. Product Focus – Bad Credit History Home Loans. How to shave years off your Home Loan. A Home Loan Refinance Has Never Been Easier. Choosing the location of your Investment Property. Have you Protected your Family by Insuring your Mortgage Repayments? 3 Simple Steps to Reduce Your Home Loan. Is Now the Right Time to Swap your Mortgage to Fixed Interest Rates? Owning an Investment Property – The Tax Advantages. Product Focus – First Time Home Buyer Home Loans. 5 Tips to increase your Investment Home Loan Borrowing Capacity.

RBA keeps a firm grip on the wheel as interest rates remain on hold. NRAS – The National Rental Affordability Scheme Explained. Are Home Loan borrowers better off now than we were in the 1990s? 2014 Investment Property Success Plan. Should I get my Home Loan from a smaller Lender. Product Focus – Fixed Rate Home Loan. Property Investment – Ocean’s 11 Keys to Investment Property Success. First Time Home Buyers – Should you Build New or Buy Established? It’s Time for a Home Loan Health Check-Up. Borrow smarter and keep your Home Loan one jump ahead of the bank. 2013 Property Market & Home Loan Interest Rates Market Update. Everything you need to know about Mortgages & Loans Blog. Selling Your Investment Property – Choosing the Right Time. Lender Special $1,250 Home Loan Refinance Rebate – Update. 8 Questions you must ask your Investment Property Manager. Quick Fix Home Improvements.

The Secrets of a Home Renovation Reality. What is a Property Buyer’s Agent and what do they do? Home Improvements That Can Pay Off. Should State Governments Abolish Stamp Duty? Hassle free home loan applications – how to properly prepare. Home Loans – Banks vs Non-Bank Lenders. Self Managed Super Fund – The Facts. Mortgage Repayments on the rise. Summer is here, but the RBA stays cool and keeps interest rates on hold. Product Focus – Line of Credit Loan. Are You Keeping an Eye on Your Super Fund? It’s Not How Big Your Mortgage is – Borrowing Smart. What Mortgage suits your Lifestyle? Saving for a Home Loan – it’s all in the Budgeting. On house prices, let’s get real. Choosing the Right Mortgage for you. What are the latest First Home Owner Grant Schemes? What are the pitfalls of an “off the plan” Investment Property?

Lender Special $1,250 Home Loan Refinance Rebate. Gold Coast market update. Property Investment Outside the Inner City. Solar: The ‘No-Brainer’ That Could Take Suburbs Off Grid. Cashed up young blokes tend to stay living at home. Why you Should Pay for a Pre-Purchase Property Inspection? Leave property investors alone. SMSF: How to choose the best properties. Prehensive Credit Reporting - What it Means to You. The Property Buying Season is here. Are You Prepared? Bridging Loans - get your new home before you sell. Low Doc Home Loans - Self-Employed Home Loans & Mortgages. Thinking of refinancing your home or investment loan? Looking to Invest in Property - Finding the Right Suburb. Construction Home Loans & Building Investment Mortgages. Selling your Home - Find the Right Loan for your next Home. A Proactive Landlord is a Property Investment Must! Split & Combination Rate Home Loans - Fixed & Variable. Want to Invest in Property? Find the Right Mortgage Today!

Looking to Invest in Property - Find the Right Mortgage. Looking to Invest in Property - Find the Right Mortgage. Family Pledge Guarantor Home Loans - Borrow 100% and more! Just Purchased a New Home- Make Sure You Are Protected. Get a Home Loan Pre-Approval - Know How Much You Can Borrow! Construction & Renovation Home Loans - Get Approved Today! 100% Offset Account Home Loan - Reduce Your Interest Charges. Professional Package Home Loans offer Discounts on Interest Rates. Family Pledge Guarantor Home Loans - Borrow 100% or more! Basic Home Loan - Low Interest Rate, No Ongoing Fees.