BLOG

FundSmart Blog

By Priscilla Chandra 03 Aug, 2018

Courtesy of MFAA ( Mortgage an Finance Association of Australia),   here is Deloitte Access Economics report on The Value of Mortgage Broking in Australia.

 Mortgage brokers strengthen the entire Australian mortgage lending industry by fostering competition and therefore supporting all Australian home buyers and investors.

  1. The mortgage broker channel has contributed to a fall in lenders’ net interest margins of more than three percentage points over the past 30 years.
  2. More than 90 per cent of customers are happy with their mortgage broker’s performance.
  3. Mortgage brokers arrange more than half of all home loans each year, and this number continues to grow.
  4. Mortgage brokers, on average, have 13.8 years of industry experience.
  5. Mortgage brokers drive competition by improving access to lenders that are not major banks or their affiliates. The share for these lenders increased from 21.4 per cent in 2013 to 27.9 per cent in just four years.
  6. The average mortgage broker has access to 34 lenders and uses an average of 10 lenders on their panel, bringing more choice to Australian home buyers.
  7. Three in ten mortgages arranged by mortgage brokers are for customers in rural or regional areas, improving access to home lending for rural and regional Australians.
  8. The mortgage broking industry contributes $2.9 billion to the Australian economy each year, supporting more than 27,100 (full-time equivalent) jobs.
  9. Brokers that are sole traders earn an average income after costs and before tax of $86,417.
  10. Brokers depend on strong relationships – more than 70 per cent of mortgage brokers’ business is referred from existing customers 

By Priscilla Chandra 20 Jun, 2018

Did you know FundSmart are experts in Commercial Property Finance?

Many FundSmart customers have discovered the friendly service and expertise FundSmart have offered in assisting with financing home loans. However most of our customers are not aware that FundSmart is also very experienced in Commercial lending finance.

FundSmart is accredited with all the major banks and other specialist commercial lenders, and this enables us to provide very attractive, commercial lending solutions.

If you are self-employed or running your own business FundSmart can help you with…


• Buying Commercial property (office, retail shops or warehouse).
• Refinance Commercial loan.
• Property Development finance.
• Equipment leasing.
• Cashflow or Debtor finance.
• Business purpose finance
• SMSF (Self-Managed Super Fund) – Commercial

 
We would be more than happy to liaise with your accountant and tailor a finance solution appropriate to your circumstances.


By Priscilla Chandra 23 May, 2018

The Banking Royal Commission is bringing to light practices by major banks and some related parties that have been questionable to say the least.  

Fundsmart always has, and always will, do everything to act in our customers best interest. This foundational policy of ours has protected our customers from the questionable banking practices that have been identified by the Royal Commission. 

We are pleased that the changes being introduced will bring more stringent controls and provide better overall consumer protection. It is encouraging that in recent weeks, the Royal Commission has already brought positive changes to bank lending policies. 

Fundsmar t has always exceeded the minimum requirements for Mortgage Brokers and we will continue to adapt to any new changes that are recommend by the Regulators. 

Call us on 1300 78 79 94  to discuss further if you have any question or want to know how it will affect you.  

By Priscilla Chandra 31 Oct, 2017
Most of us have insurance to manage the major financial risks in our lives. Usually these include house and contents insurance to cover for fire and theft; car insurance in case of an accident and life assurance to provide for our loved ones.

Loan Protection Insurance is often overlooked; but it is so important that it is a compulsory requirement of ASIC for Mortgage Brokers to discuss this insurance with clients.

Loan Protection Insurance includes the following benefits:-

Involuntary Unemployment: Pays up to $2,500.00 per month for up to three months.

Critical Illness: Covers life-threatening and other serious medical conditions.

Death and Terminal Illness: Pays a benefit up to $1,000,000.

As your Broker, I understand how hard you have worked to buy your home. Unfortunately, unforeseen life events could impact your ability to meet mortgage repayments. Events such as losing your job involuntarily, medical conditions, inability to work through sickness, accidents or death. It is important to be prepared, and that is where I may be able to help you manage these risks.

FundSmart can arrange a Loan Protection Cover that is appropriate for your circumstances. We can provide a quote to consider. Peace of mind comes from knowing that you can meet your mortgage repayments in the face of these unexpected events. Premium rates are very reasonable and you will be pleasantly surprised at how economical this insurance is.  Please contact us if you have any questions. 

By Priscilla Chandra 28 Sep, 2017

The Mortgage Broking Industry is a relatively new industry and has grown rapidly because of the value provided to consumers who are seeking loan products. ASIC is the government body that constantly reviews financial matters for the protection of consumers. As a result, the Mortgage Broking industry is now fully regulated . FundSmart is proud that we are fully compliant with all regulations and we exceed the requirements for our continuing education and professional development.

 Currently, ASIC’s focus is on Brokers remuneration.

By Priscilla Chandra 25 Aug, 2017

 

Australians value Mortgage Broker Service

Australians have been quick to recognise the value of using mortgage brokers to source their loans and Australia now leads the world in this industry . At the conference, it was revealed that close to 60% of borrowers in Australia, compared to 35% in Canada use a mortgage broker to arrange their finance.

In Australia, there are;

  • more than 50 deposit-taking institutions including banks and credit unions.
  • more than 3,000 home and investment loan products being offered.

With these comes fierce competition from lenders to attract new customers. This has created differentiation, bonus offers, honeymoon rates, freebies and other inducements. To make wise financial decisions when choosing a loan, you need to weigh interest rates, terms, conditions, fees; fixed versus variable rates and repayments on Interest-only versus Principal & Interest.


Choosing a loan or investment product is daunting! In fact, the finance industry is so complex, most Australians do not have the time, experience or expertise to conduct the necessary research.


The Australian Mortgage Broking Industry is highly regulated, which protects you, and has well earned its great reputation in assisting their borrowers to select loan products best suited to their circumstances. Banks in Australia also recognise that Mortgage Brokers add value to bank customers and have invested money and many resources to support this fast-growing channel.
This is where FundSmart come in as professionals and experts to assist you .


We work full time in this sector of the financial market and that gives us an up-to-the minute overview of the industry, including new loan products and emerging trends.


What does FundSmart do for you as your Mortgage Broker?

It is our belief and business model that our success comes from providing the best service to our clients. We pledge to only recommend a financial product that provides the best possible solution for your circumstance.


We are qualified mortgage brokers, accredited with all major banks and many other financial institutions. As your Mortgage Broker, we will;

  1. Assess your financial affairs.
  2. Help you determine the type of home or investment loan that is right for you.
  3. Help you select a loan with features that benefit you , at the lowest possible rate.
  4. Do all the leg work! (this includes approaching the lender, assist you to collect ALL necessary documentation, communicating with lender on your behalf and submitting application).
  5. We work closely with your Solicitors and or Conveyancers.
  6. Save you time and energy; which is guaranteed.
  7. As Brokers, we don't compete with banks. We help you find one of their loan/investment products that will match your needs.

By Priscilla Chandra 30 Nov, 2015
Dear Friends,

Big banks may be increasing their mortgage interest rates, but that's no reason for their mortgage customers to meekly accept higher repayments. Did you know that while the big banks have raised their variable rates, a number of their competitors have actually been dropping their rates?

Interest rates are low and cannot credibly fall much further, and the fees for refinancing a home loan early are lower than ever, thanks to Government regulation.

For these reasons, it is now an excellent time for homeowners to refinance, and possibly to fix a portion of their loan at the same time. IF you do it now you might just give yourself a Christmas present – adding thousands of dollars to you in savings... but unfortunately if you wait until after the New Year's Eve fireworks are over you may miss out.

Fixed rates loans:
With the official cash rate at 2 per cent, interest rates can't fall much further. This means there is much to gain and very little to lose by fixing a portion. If it goes up, you've made the right call; if it goes down, it won't be by much.

For a very limited time the 3 Year Fixed rate is at 3.94%.
And the Variable rate is as low as 3.99%. You will need to act quickly to take advantage of these offers. Because these are very special offers therefore at FundSmart we believe you will need to act quickly to take advantage of these offers. Of course you could do a combination of both Variable and Fixed rate loan. Ask us how so we can help you choose the BEST option for YOUR situation.

Switching a mortgage can be daunting process for many people but we can help with the legwork in finding a suitable mortgage product for you. The most satisfying part of our work is identifying loan products that provide our clients more money in their pocket.

Consolidating higher interest rate debts like credit card, personal loans or even an existing business debt is a really smart way to save funds by using the same lower interest rate loan product for ALL your debts. We have been successful in helping improve financial situations for many customers by doing this and it would be a privilege to see how we could help you as well.

All you need do to take advantages of these ideas just call us on 1300 78 79 94. You are under no obligation, and we guarantee to only offer the services that will benefit you.

Why not share this blog post to your families, friends or work colleagues and help them to save money too.

Regards
Priscilla Chandra.

By Priscilla Chandra 29 Jun, 2015
We are delighted to share with you the Winter 2015 edition of the Australian Housing Market Report.

Understanding the market is key to making smart property decisions. Whether you are buying a first home, upgrading, investing or even downsizing, the report offers information that is simple to use and understand.

This report is produced by CoreLogic RP Data, the largest provider of property information and analytics in Australia and New Zealand, the report contains both information about what has happened in the housing market in a 12 month period (up to April 2015) and also expectations of where house prices may be headed over the short-term. It includes:

National and state performance data
City and regional data
Growth rates for the strongest performing suburbs
We hope that you and you will find it a valuable resource.

Click HERE to download the Report.

Right now the interest rates are historic low and it is a good to let us help you take advantage and save.

Kind regards
Priscilla Chandra
Show More

Share by: