Home Loan News

March 27, 2017

First Home Buyer Before and After 1st July 2017

With the Vic Government Announces for First Home buyers do not need to buy stamp duty up to $600,000 below is two attached Funds position Example for $400k house   “Tens of thousands of first home buyers will no longer have to pay stamp duty on properties worth up to $600,000 under an Andrews government plan to make housing more affordable. Long-awaited reforms to be unveiled on Sunday will give new homeowners savings of up to $15,000 by exempting them from stamp duty on new and existing properties, in a bid to help more Victorians to break into the expensive housing market.” Source For a $400k Property as an example First Home Buyer Before 1st July 2017.pdf $39,000 or $39k is needed to settle on a, established property, assuming you fit into a few criteria for  3 lenders left that do 97% Loans for Owner Occupied.   First Home Buyer […]
December 23, 2016

Difference Between a Dedicated Finance Broker and Branch Manager or other Finance Broker

Difference Between a Dedicated Finance Broker and whoever. when settlement is near or close to Christmas. Case: Off the Plan – Preapproved with best Discount off Home Loan Int – 9 Business days Settlement. B-Day for Business Day B-Day 1: Action Immediately after notice from client when property is titled 4 pm Order Valuation B-Day 3rd: Valuation Done, straight off to Bank. Called, Christmas time 10 B-Days for assessment. Get BDM to escalate to 2½ B-Days. 6th B-day: Formal Approval. Escalate again to email mortgage docs. Arrived @ 8.10pm, Print out documents 8.30pm, Quality Check and travel time and meet client @ 10 pm sign docs. 7th B-Day: Hand delivers Mortgage docs @10.30am to Bank. Meanwhile Keep updating status with client and Client’s Solicitor. and provide emotional support to the client. 9th B-Day: Settled Difference? For Urgent deals certainly made some difference. One thing for sure you cannot make an […]
July 24, 2015

Australian Broking Awards Broker IQ Partnering The Adviser Finalist – Victor Foo

In the News, Victor Foo Your Finance Broker doing an On stage Quiz after 2 rounds of elimination. http://www.theadviser.com.au/breaking-news/32621-broker-iq-finalists-revealed   ” Those final six will now compete on stage at the Australian Broking Awards next Friday, 31 July for the chance to win $5,000 cash and be crowned Australia’s brightest broker. Going head-to-head in this year’s final are Duncan Johnston, Paul Bevan, Jayden Vecchio, Simon Vinnicombe, Victor Foo and Rick Moffitt.   Clive Kirkpatrick, St.George’s general manager of mortgage broking, said that the response to Broker IQ had far exceeded his original expectations.”   “This year’s competition has been one of the most challenging and closest we’ve seen. I’m looking forward to seeing our final six compete on the night. Best of luck to all of them!”   That’s right that Victor Foo is ME! Top 6 in Australia,      and Number 1 in Victoria. As all the others […]