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Empty nesters and people approaching retirement with big homes and mortgages are downsizing to sustain their current lifestyle, says leading mortgage broker Loan Market.
Loan Market Chief Operating Officer Dean Rushton said there had been enquiries nationwide from mortgage holders who were selling up to reduce their debt.
“By selling up and buying a smaller and less expensive property they can then reduce their mortgages and create a comfort zone for themselves and in some cases help their children to purchase a property,” he said.
Mr Rushton said the majority of downsizers are of retirement age but many don’t have the ...
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Categories: Finance News. Tags: downsizing, Loan Market, Reserve Bank of Australia.
Loan Market Hornsby mortgage broker, Bob Staley, offers clients across Sydney a personal and flexible home loan service that caters to your eprsonal circumstances.
"My mission is to become your personal financial assistant by providing you with a range of loan options that will enable you to make the right choice," says Bob.
Bob has extensive experience across a range of home loan types including residential home loans, business and commercial lending, equity finance mortgages (EFMs) and investment loans. He is also a qualified reverse mortgage consultant.
"It's really about getting the best deal for my clients, so I ensure I am knowledgeable ...
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Categories: Mortgage Brokers. Tags: Beecroft, Bob Staley, Business and Commercial Loans, Home Loans, Hornsby, Investment Loans, Mortgage Broker, Residential Loans, Reverse Mortgage.
02 June
Reverse Mortgages, introduced in Australia earlier this decade, are predominantly being used to maintain and improve current properties, according to a survey by the Royal Bank of Scotland (RBS) and Deloitte.
The survey shows 32 per cent of retirees taking out a reverse mortgage use the funds to finance property renovation.
Paying off existing debt and supplementing retirement income were other common uses of reverse mortgage funds.
The average reverse mortgage is around $60,000.
Anyone considering securing a reverse mortgage should consult with a mortgage broker or financial planner, in conjunction ...
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Categories: Finance News. Tags: Debt, Income, Mortgage Broker, Property Renovation, Retirement, Reverse Mortgage, Reverse Mortgages.
12 May
Reverse mortgages have come into the market only really in about the past 4-5 years. Over that time, Australians have borrowed billions of dollars against the equity in their property, to help fund retirement, cover medical expenses or to pay for essential property maintenance.
Although reverse mortgages have become more mainstream, they can still be a tricky area both legally and financially to navigate. The assistance of professionals such as a mortgage broker accredited in reverse mortgages, an accountant or financial planner, and a solicitor are essential.
I can assist you to determine the pros and cons ...
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Categories: Mortgage Brokers. Tags: Catherine Yap, First Home Buyer, Foreign Investor, Investor, Low Doc Loan, Mortgage Broker, Reverse Mortgage, Self Employed, Small Business, Sunnybank.
7 May
A recent survey by Reverse Mortgage body, SEQUAL, in conjunction with Deloitte, has shown that over half of borrowers looking for a reverse mortgage choose to use the service of a mortgage broker of financial planner.
This is up nearly 35 per cent on 2004 figures.
The survey highlights the preference of reverse mortgage borrowers to have a tailored solution to their requirements, rather than an 'off-the-shelf' option available direct from banks and lenders.
About 37,500 people have taken advantage of the equity in their property via a reverse mortgage, to a total value of around $2.5 billion.
Although ...
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Categories: Finance News. Tags: Equity, Mortgage Broker, Reverse Mortgage, Sequal.
February 15, 2009,
Ultimate guide to home loans gives lifeline to borrowers
Consumers who are drowning in the quagmire of home loan information and figures have a new lifeline in the form of a new home finance book.
"The current economic climate has added to the stresses and complexities of shopping for a home loan," said Ms Jennifer Nielsen, editor of new book The Ultimate Guide to Home Finance.
The good news is that with the increased first home buyers grant people are putting their toes back in the water and the demand for mortgages is on the rise.
Australian Bureau of Statistics last ...
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Categories: Finance News, Media Articles. Tags: Borrowers, First Home Buyers, Home Loans, Mortgage Brokers, Mortgages.
Australia’s largest independent mortgage broker, Loan Market Group, has launched a new book offering a practical guide through the complexities of obtaining property finance.
Loan Market Group said The Ultimate Guide To Home Finance was designed to help everyone from first home buyers to investors.
“Deciding to obtain a home loan is one of the most important financial decisions that you can make,” Mr Kolenda said.
“It has become even more complex in the current economic climate.
“Interest rates are at 40 year lows and home loans are cheaper than ever but there are many products to choose from and much ...
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Categories: Finance News, Press Release. Tags: Finance, Home Loans, Mortgage Brokers, Ray White.
Over the course of my 20 year career in the finance industry, I have had extensive experience with a broad range of clients and loan types including first home buyers, low and no deposit loans, family pledge loans, shared equity loans, bridging loans, relocation loans, self employed borrowers, low doc loans, construction loans, vacant land loans, rural property and acreage finance, seniors equity release, debt restructure and consolidation, and non-resident property finance.
First home buyers
First home buyers in Western Sydney have a unique position in that the area is a great entry point into the property market. ...
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Categories: Mortgage Brokers. Tags: First Home Buyers, Investment Loans, Mortgage Broker Penrith, Mortgage Broker Western Sydney, Reverse Mortgages, Tony Inglis.
Buying or refinancing a property requires you to get the right loan with all required features and structuring your loan. The home loan process does not stop there, you have to ensure that you purchase the right property (particularly with investment purchase) and have the legal issues dealt with (conveyancing). That’s why I provide you with the service, knowledge and professional referrals to ensure the entire process proceeds smoothly. I endeavour to understand and identify your needs, and take your lifestyle, circumstances and priorities into account.
First Home Buyers
Most first home buyers that I have dealt with find ...
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Categories: Mortgage Brokers. Tags: Act, Canberra, Loan, Mortgage Broker.
I have been in the finance industry, working specifically in residential lending, since 2002, and have experience sourcing both standard and non-conforming home loans. Throughout my career I have discovered that there are genuine people out there who are struggling to make repayments as life has given them a curve ball; perhaps through an illness, or even loss of income or business.
Through no real fault of their own, global financial conditions have also been putting a strain on household finances. Despite tightening credit criteria, there are still options out there for non-conforming borrowers.
Non-conforming home loans
A specialist in non-conforming home loans, ...
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Categories: Mortgage Brokers. Tags: Adelaide, Adrian Rivish, Burnside, Home Loan, Mortgage Broker, Non-conforming Home Loans, Reverse Mortgage.
