Loanscope

There's only two things certain in life - death & taxes. And stamp duty is one of those hefty taxes Australians pay. But what if there were ways you could reduce this tax? Lucky for you there is. We explain all in our latest blog. So pour a tea or coffee and gift yourself five minutes of learning... It could just save you 1000s. https://lnkd.in/gCX3BfaQ

What salary do you need to purchase the home of your dreams? Research from money.com.au reveals if you want to buy a million dollar property with 20% deposit, you’ll need a household income of $165,000 pretax. We’ve taken it one step further and crunched the numbers for you on other property prices because hey, not everyone wants to buy a million dollar property. But how much do you need to be earning to secure your next property? Got your sights on securing your first home at $600k with a 5% deposit?  You’ll need to be earning a household income of $125 pretax. Maybe you’ve seen a property that’s around $750k for your first home with a 5% deposit. Then a household income of 145k pretax is required. (Note the jump between a 600k and 750k home) Now, what if it’s not your first home? The numbers will vary. Let’s take a look.  For a $600k property with a 10% deposit, you’ll need to have a household income of $115k minimum. And a $750k property with a 10% deposit will require a minimum household income of $145k.  There are so many variants and considerations and the calculations above assume no credit cards or liabilities. Want to know how we crunched these numbers? Reach out and give us a call, we’d be happy to talk you through it. You can also check out our affordability calculator here. https://lnkd.in/g93BF_KW

CoreLogic’s latest report shows construction costs are still on the rise, with a 1% jump in the September quarter—the biggest increase since late 2022. Over the past year, costs have surged by 3.2%, raising the question: how will this impact the government’s ambitious goal of delivering 1.2 million new homes by mid-2029? With materials costs stabilising but labour shortages and supply chain issues still creating roadblocks, builders are left wondering if these rising costs will continue to squeeze profit margins. https://lnkd.in/getbVwEi

Can Build to Rent (BTR) help solve our housing crisis? With more than 8,000 BTR apartments under construction in Australia and another 13,000 approved for development, BTR is a growing trend here in Australia. But will BTR continue to grow? And will it solve our housing crisis? Ben Burston, Chief Economist at Knight Frankly says it won't solve it but it'll certainly "take the pressure off." If we look to other countries ahead of us, we can learn a lot. In the UK, BTR provides more stability for renters providing long term leases, but it hasn't brought down the rental prices. Over in the US, entire suburban neighbourhoods have been developed under BTR. It has taken off and is extremely popular among millenials who can't afford the fixed 7% rate. In Hong Kong, it's mostly luxury apartments at a premium rate and is not so popular with a large proportion of the population preferring home ownership, a desire which is backed by the Government. So, back in Australia, what do we think about this growing trend? Is it here to stay? And what are the benefits? We'd love to hear your thoughts. You can read the full article from ABC below. https://lnkd.in/g4z7EgDf

If customer service is as important to you as securing a good interest rate, the difference between a mortgage broker and a bank couldn't be clearer. Discover more about the customer service we offer at Loanscope in our new video featuring Harrison Handley, where he highlights the extra services we provide to all our clients.

LMI waivers are a hidden gems for legal professionals. We recently helped a client save thousands by securing a 90% LVR waiver – a benefit she didn’t even know she qualified for! LMI Waivers are not widely advertised and can easily be missed. Don't let opportunities pass you by. At Loanscope, it's our job to stay on top of all the options available and ensure our clients are informed. Explore how legal professionals can benefit from LMI waivers in our new blog:  #MortgageBroker #LMIWaiver #Lawyers #HomeLoans #Propert https://lnkd.in/gYp27iJh

Legal professionals can save thousands by taking advantage of Lenders Mortgage Insurance (LMI) waivers. As a lawyer, your career path and earning potential make you a low-risk borrower. Many lenders offer LMI waivers, which means you could borrow up to 90% of your property's value without paying LMI. On a $1M home, that’s over $20K in savings! Whether you are looking to enter the property market or expand your portfolio, there are many benefits you can tap into to get a head start.  Intrigued to find out more? Read the full blog here. https://lnkd.in/gYp27iJh

71% of home buyers still feel that now is a good time to buy... Despite the rise in cost of living. How can this be? A recent report by Helia and CoreData Group reveals people are motivated to buy before prices increase further. And a whopping 91% of first time home buyers seek expert guidance from mortgage brokers. If you're looking to buy and would like impartial advice and support to navigate this challenging market, contact us today: https://lnkd.in/eBT3N3E5

71% of home buyers still feel that now is a good time to buy... Despite the rise in cost of living. How can this be? A recent report by Helia and CoreData Group reveals people are motivated to buy before prices increase further. And a whopping 91% of first time home buyers seek expert guidance from mortgage brokers. If you're looking to buy and would like impartial advice and support to navigate this challenging market, contact us today: https://lnkd.in/eBT3N3E5

High interest rates. Inflation. Soaring house prices... It's tough out there for first time home buyers. Throw in assessment rates at 3% added onto the current 6.08% rates, and aspiring property owners dreams are becoming just that, dreams. NAB has called for a lower serviceability buffer for first time borrowers, stating they're willing to work with the government and regulators to assess the viability of this. If a lower serviceability buffer is implemented, first time home buyers would be eligible to borrow more. With this current market, isn't it about time we helped them get a foot on the property ladder rather than blocking them? We think so. Are you a first time home buyer struggling? What's the biggest challenge for you right now?