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Tue, Mar 31st - 3:22AM

Reasons why Refinance Home Loans has Steadily Increased!

The number of people refinancing their home loans has steadily increased over the past few decades. With interest rates at an all time low and with better competitive home loan deals on offer, more customers are looking to refinance their home loan to secure:

• A lower interest rate

• Saving money by reducing your loan repayments

• A more flexible home loan product which offers redraw facilities and an offset account

• A reduction in the time of their home loan

• Access to the equity in their home loan to enable them to renovate their home, buy a new car or even build a swimming pool

Change in Circumstances

Change is inevitable and you may now find your situation has changed to the extent you are now looking at refinancing, as a result of any of the following circumstances:

• You may want to invest in another property

• You have a new baby, or another baby is due

• You may want to consolidate credit card debts and personal loan debts, or

• Your current interest rate is locked-in above the market value

Performing an Annual "Financial Health Check" of your Finances is Important!

Regardless of your situation, it is always advisable to perform an annual "Financial Health Check" on your home loan and personal finances. As you would ask yourself some questions when you are feeling unwell, you should look at your finances in the same way and ask yourself the following questions to ascertain if your finances are in order:

• Is your existing lender/credit provider meeting your needs?

• Should you fix your home loan to create certainty around your monthly repayments?

• Would you prefer a "combination" of both fixed and variable interest rates?

• Does your current home loan product have all the features you need such as, redraw facilities and an offset account?

• Will you save money by refinancing?

• What will be the impact of any costs involved to refinancing home loan?

• Will you now better manage your personal and household budget by refinancing?

So, even if you don't have any specific reasons in mind, it is always worth weighing up your options from time to time. Consider performing a "Financial Health Check" of your personal finances and household budget. The "Financial Health Check" will at least enable you to determine if you have a legitimate reason for refinancing and, if the long-term savings outweigh the short-term costs.

Refinancing can be very beneficial to you if done properly and if done for the right reasons. Remember to work out if you will be better off by switching to another lender/credit provider and if you will save money by switching.

Once you have determined that refinancing is right for your circumstances, you should seek expert advice from a professionally qualified finance broker. The finance broker should have access to interest rate comparisons and should be able to show you the long-term savings and confirm to you if these savings outweigh the short-term costs.

So, don’t just jump on the bandwagon and refinance your home loan. Consider its consequences and take advice of an expert finance broker to make a profitable choice.

Quicker approval and better interest rates can be availed by opting for home mortgage refinance. Solve all your financial troubles by calling on 0424 190 908. Singh Finance will not only help you in managing your current loan effectively, but it will also help your business by providing you with low rate caveat loans.

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Mon, Mar 30th - 6:19AM

Quick Understanding for investing in Commercial Real Estate

As the residential investment property market becomes fierce, many investors are starting to recognise commercial property as a viable investment option. So, don't put all your eggs in one basket and consider diversifying your investment portfolio by investing in commercial property.

What is Commercial Property?

The term commercial property (also referred to as commercial real estate, investment or income property) refers to building or land intended to generate a profit, either from capital gain or rental income.

What Type of Property is included in Commercial Real Estate?

Commercial real estate is classified as property assets that are primarily used for business purposes. Commercial real estate is commonly divided into the following categories:

• Office buildings

• Industrial property

• Retail/Restaurant

• Multifamily housing buildings and

• Farm/Rural land.

In addition to the above, commercial real estate can include any other non-residential properties, such as:

• Medical centres

• Hotels

• Warehouses

• Malls and

• Self-storage developments.

What are the differences between Commercial Property and Residential Property Investments?

When you invest in commercial property, you still expect to rent out your property and receive rental income from a tenant as you do when you purchase a residential property investment. However, the major difference between investing in commercial property compared to residential property is the Rental Agreement. With commercial real estate, the property is usually leased to a business under a detailed contract for a much longer period (e.g. three, five or ten years).

There are some other important differences such as:

• The Tenant is usually called a Lessee;

• Vacancies between tenancies can be longer;

• Goods and Services Tax applies to commercial property (i.e. to the purchase price, rent received and any expenses in relation to the property); and

• Maintenance costs are usually paid for by the Lessee, which means net rental income tends to be higher.

What is an Annual Return on Investment?

The "annual return on investment" is the amount earned on the investment property. The amount earned, is expressed as a percentage, and it is called the property's "yield".

So, if you are considering investing in commercial real estate. You should always ask yourself the following questions:

1. What return on investment will you get from this property?

2. What is the property's yield?

How is the Yield calculated?

Yield calculations are worked out by dividing the annual rental income on the property by how much the property costs to buy. For example:

Gross Yield = annual rental income (weekly rental income x 52) / property value x 100

This is best illustrated by using the following example:

• Assuming you buy a commercial property for $950,000; and

• Rent the property out for $2,000 per week ($104,000 annually).

Your Gross Yield will be 10.9%. It will be calculated in the following way:

($104,000/ $950,000) x 100

If you want to invest in a commercial property, you need to keep in mind all the information mentioned in this investors’ guide. You can seek help and guidance from Singh Finance’s team of professionally qualified and expert finance brokers that specialises in obtaining cheap commercial real estate loan.

The team will not only help you in finding the best commercial property loan but they will also be useful in fulfilling your finance needs. Contact the firm on 0424 190 908 if you are looking for any type of loan such as unsecured debt consolidation loans or quick development finance for builders.

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Sat, Mar 28th - 12:38AM

Short-Term Business Loans are the Perfect Solution for when your Business Needs Urgent Cash

You may be like most small to medium-sized business owners who often need urgent working capital or cash flow. If you find your business doesn't qualify for a traditional business loan from a traditional financing institution, you might still be able to obtain finance in the form of a short-term business loan.

What are Short-Term Business Loans?

Short-term business loans will provide your business with a suitable funding alternative to traditional business loans provided by traditional financing institutions. Here is a list of reasons why short-term business loans can benefit you:

• You will be able to meet you urgent needs for financing, without requiring you to make a long-term debt commitment; and

• You can choose a maturity date of one year or less.

Short-Term Business Loan Purposes

Here is a list of reasons how the loan package can help your business:

• Short term business loan for working capital can help you to cover any temporary deficiencies. So, you can meet your payrolls and expenses;

• They enable you to meet any immediate and urgent expenses, particularly if your business is seasonal in nature;

• They enable you to create and manage start-up businesses and pay for any start-up business costs;

• They enable you to take advantage of any business growth opportunities and when you have to move quickly; and

• They enable you to look at any acquisition or expansion opportunities that can arise suddenly, and you need to respond immediately and provide immediate cash.

Traditional Business Loans may not always be the Best Solution for you!

Here is a list of common frustrations that many small to medium-sized business owners have when looking at traditional business loans:

• They are often made for as long as ten years;

• They often require mountains of documentation and financial statements;

• They have a rather long waiting period before you receive an approval;

• They can take weeks or even months before funding is received; and

• They have a rather high decline rate for small businesses.

So, short-term loan for small business is ideal for business owners who have recently started a business, want a smaller loan term or don’t want to get involved in a huge documentation process.

Taking help of Experts

Ensuring you have the right finance structure in place is vital for you. So, you should seek expert and specialist advice from a business finance expert who has adequate knowledge of the credit policies and the standard requirements for obtaining short-term business loans. You should also seek independent taxation and accounting advice regarding the treatment of depreciation and any tax advantages that may be available to you.

Truly, short-term business loans are a very efficient and cost-effective source of urgent finance. So, next time your business faces cash crisis, do not worry. Simply contact a finance broker who will help you in obtaining the loan package of your choice.

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Sat, Mar 28th - 12:37AM

How to obtain Medico Loans for buying Property?

I am a General Practitioner. Is it possible for me to obtain a loan to buy a converted residential house to use as my practice premises?

Dr Alex (General Practitioner)

Hi Dr Alex,

It is a very interesting question asked by many medical professionals, medicos and doctors. To attract medical professionals and to fight competition, specialist lenders/credit providers have developed an amazing loan package called "medico loan" (also known as "medico pack" and “loan for doctors”). The loan package can help you in buying a converted residential house to use as your practice premises.

If you are a medical professional like Dr Alex, you can also take advantage of the medico loans and start your practice. Before you apply for medico loans, you must know everything about it so that you make a wise decision. So, let’s start.

The Purpose

Amedico loan has many purposes. However, you should keep in mind that refinancing of working capital, equipment finance and all other business related purposes are excluded from the loan package. In addition to buying a converted residential house to use as your practice premises, you can also use a medico loan to:

• Purchase residential properties (owner-occupied and investment property purchase)

• Refinance existing home loan

• Consolidate your debts, or

• Obtain cash out (Equity Release)

Special Discounts and Benefits

Medico home loans have been specifically developed to offer doctors with a number of special deals and discounts. Here are a few of the special discount deals and benefits provided to medical practitioners:

• Confirmation and validation of 5% genuine savings is not required

• A maximum Loan-to-Value Ratio (LVR) of 90% may be approved without Lenders Mortgage Insurance (LMI)

• Discounted interest rates

• Easier loan approval - even for the typical "hard loan proposals"

• Discounts on Lenders Mortgage Insurance (LMI) premium or even no LMI

• No Set Up cost or Application costs

• No valuation

• Special interest rate for family members, and

• Easier cash out (Equity Release policy)

Eligibility Criteria

Here is a brief list of medical professions who can choose a medico loan pack and get all the special discount deals and benefits:

• Doctor of Medicine

• Surgeon

• Hospital - Employed Doctors (Intern, Resident, Registrar, Staff Specialist)

• Dentist

• Chiropractor

• General Practitioner

• Optometrist

• Radiologist

• Veterinary Practitioner

• Physiotherapist, and more

Income Documents and Employment Verification Requirements

Income documents are standard, and you only have to provide copies of the most recent tax return for both, established self-employed medical professionals and PAYG medical professionals. And, you only have to provide copies of the following employment documents:

• Your University degree or qualification, or

• Your Registration with the Medical Practitioners Board of Australia or equivalent body

Tuly, lenders/credit providers have made loans simpler for medical professionals by providing medico loans. So, don’t worry about obtaining a loan package for establishing a private practice.

Singh Finance is a reputed Australian brokerage firm. It will help you in obtaining home loans for doctors. Don’t worry if you do not have all the loan documents ready. You can obtain low doc home loans easily. Call on 0424 190 908 or enquire online today.

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Fri, Mar 27th - 4:28AM

Need Information on No Deposit (Low Deposit) Home Loans

Since the global financial crisis mainstream lenders/credit providers have made numerous changes to their lending criteria, and it is now not easy to get a 100 per cent-plus home loan deal. However, there are some specialised lenders/credit providers who have recognised the difficulty that many aspiring home owners experience when searching for home loans and so, have introduced no deposit (also called low deposit) home loans, said Mr Singh of Singh Finance.

Mortgage/Home Loan Products available

Here is a list of no deposit (low deposit) mortgage home loan products for you to consider that will:

• Allow you to borrow up to 96% of the purchase price

• Allow you to capitalise the Lenders Mortgage Insurance (LMI) on top of your loan amount, which can bring the total (LVR) to 97 per cent or 98 per cent

• Allow you to borrow a maximum (LVR) of 100 per cent including LMI costs

• Allow a maximum (LVR) of 120 per cent with LMI capitalised. But a "guarantor" is required, and

• Even recognise 12 months continuous rental payments made by you as part of your genuine savings requirements

It is important to remember that the risk to the specialised lender/credit provider is greater for no deposit (low deposit) home loans. And so, you will pay a "premium" interest rate for the privilege, usually about 2% higher than the current market rate.

Application Assessment Process

When assessing your eligibility for a zero savings home finance or low deposit home loan, the specialised lender/credit providers will adopt a stringent assessment process. They will be looking closely at your capacity to repay the home loan. To work out what assessment criteria applies to you; speak to an expert finance broker. Here, are a few tips to help you:

• Ensure you can demonstrate a strong stable income

• Try to show at least some genuine savings or show your 12 months continuous rental payment statements, and

• Ensure your personal debts (credit cards and personal debts) are under control before committing to a no deposit (low deposit) home loan

Seek Expert Advice

As with any aspiring home owner, buying your first home at any stage of life can be an overwhelming process. Not to mention knowing which specialised lender/credit provider is willing and able to assist you can be daunting. So, having an expert finance broker on your side will save you lots of time and heartache.

So, before you think it is too difficult to get a home loan, don’t despair. The key to finding the right home loan lies in employing the services of an expert and professionally qualified finance broker, who specialises in all home loan products and finance solutions, said Mr Singh.

He said, you need to sit down with the best finance broker who will be able to explain that there are a number of specialised lenders/credit providers offering high "Loan-to-Value Ratio" (LVR) home loans that will allow you with no savings behind you to take on a mortgage home loan debt.

So, don’t worry if you want to obtain a no deposit (low deposit) home loan. Contact a professionally qualified finance broker to help you.

Singh Finance is a reputed finance brokerage firm in Australia that employs a team of expert and professionally qualified finance brokers. The team will leave no stone unturned in obtaining a no deposit home loan for you. It will even help you find quick bad credit commercial loans for your business. Call on 0424 190 908 today.

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