Things are likely to heat up over the next few months – good and bad heat depending upon your ability to react and take advantage of some of the opportunities. And yes, there’s also plenty of interesting news at the moment. Here are some mortgage, property and car stories that are making headlines: – Interest … Continued

If you are new to BIR Finance, we have a monthly newsletter on property and finance – with some insights not everyone gets to see. One welcome piece of news from earlier this month was the Reserve Bank keeping the cash rate on hold. Finally (wait for it….), the mortgage belt can take a break … Continued

There’s so much news around at the moment, it’s hard to know where to look. To make life easier, I’ve collated four important stories about property, finance and cars. – Auction clearance rates rise – Government tightens BNPL rules – New cars in high demand – Big home loan shift taking place Read more below. … Continued

Tired of feeling like your loan is holding you hostage? Well, it’s time to break free and unleash the power of refinancing! Picture this: lower interest rates, reduced monthly payments, and newfound financial freedom. Refinancing your current loan is like hitting the reset button on your financial journey. It’s your ticket to escape the clutches … Continued

If you like keeping up to date with what’s happening with property, finance, cars and the economy, you won’t want to miss this newsletter. Here are four big stories: – Govt plans RBA cash rate reform. – HomeBuilder deadline extended. – Cars to become more efficient. – Inflation continues falling With inflation falling, it’s good … Continued

Hi, Next month’s news cycle is likely to be dominated by the upcoming federal budget. In the meantime, here are four important stories making headlines: – Borrowers in refinancing mood – ATO targeting property investors – Property market rebounds – Banks supporting green consumers. Read more below. But first, our regular updates! This month’s Lender’s … Continued

Hi, March has been one of those months in which the media has been filled with property and finance news. These four stories really stood out: – First home buyer update – Property price surprise – New vehicle sales climb 1.8% – RBA hints at rate relief Read more below. But first…. Some things you … Continued

Hi, As summer comes to an end, the property market tends to kick into gear. There’s a lot of real estate news around right now, including these four big stories: – Building approvals trending down. – Rents rise as vacancies fall. – Real estate price update. – Australia sets a refinancing record. Read more below. … Continued

To cure inflation using monetary policy we have 3 groups of HEAVY LIFTERS (and the rest of us Aussies should be fine). Read on to find out if you are likely to be one of the RBA’s heavy lifters. Some in the media are now (finally) saying that interest rates are a blunt instrument to … Continued

Introduction When you apply for a loan, you often have the opportunity to select a loan with a variable interest rate or one with a fixed interest rate, either in part or in full. A variable interest rate can change over time as determined by the lender. With a Fixed Rate, the rate of interest … Continued

Hi, I hope you and your family had a great Christmas break. Even though it’s early in the year, there’s already some big news around: – Refinancing hits new record – Property listings rise 4.6% – 3 key fixed-rate loan tips Read more below. But first….. 3 things! #1 Our survey results are in! Conveyancer … Continued

Below are some observations as reflected from the data obtained from the RBA for the 12-month period ending 31 August 2020.  Whilst both the absolute numbers and the relationship between rates will change, these observations provide you with useful information when you are shopping for a home loan by explaining some of the macro risk … Continued

The marketplace – The consumer lending marketplace, especially in home loans and residential lending, is vast and perplexing. – Apart from the big 4 retail banks (CBA, Westpac, NAB and ANZ), there are regional banks which operate in each State, credit unions and mutual lenders (which are ‘owned’ by consumers) plus the growing range of … Continued

Hi, Christmas is just around the corner, so if you haven’t done your shopping it might be wise to start now. In the meantime, here are four stories I think you’ll like: – Borrowers pass their ‘rate buffer’ – Govt tackles housing affordability – Australian property earns praise – ABS releases good economic news Read … Continued

At its simplest level, there are 2 types of interest rate products available for the housing loan market in Australia – Variable Interest Rate products Vs Fixed Interest Rate products. But this is just the start!  Many lenders, for example, offer Fixed Rate products with different terms ranging from 1 year all the way through … Continued

Hi, Supply chains are still not back to normal, so it might be wise to start ordering your Christmas presents now. In the meantime, here are four big property and finance stories: – Property buyer breakdown – Regional scheme goes live – Home loan landscape changing – Buyers value energy efficiency Read more below.   … Continued

Introduction Commonwealth legislation requires that for every home, car or personal loan advertised, a comparison rate has to be quoted. But lenders also have to include a warning about the accuracy of the comparison rate. Comparison rates were originally introduced as part of the Uniform Consumer Credit Code in 1994. The UCCC has since been … Continued

Introduction When you apply for a loan, you will often have to choose between Principal & Interest (Principal & Interest) payments and Interest Only  repayments.  As the name suggests, with Principal & Interest payments, you are paying your lender the interest cost for the month plus a portion of the principal you have borrowed. Over … Continued

Interest – what is it? Interest rates reflect the price of money.  The interest rate ‘price’ factors in a large number of variables including the lenders’ competitive environment and their need to be profitable. Unlike most transactions with a supplier, your financial umbilical cord with a lender lasts a very long time – often up … Continued

Hi, We’ve made it to spring! As the season changes, so does the property and lending landscape. Here are four stories making headlines right now:  – Rentals being snapped up – Houses v units – Prices surge for new land – Savings rates above 3% p.a.   Read more below.   But first…. The results … Continued

We are often asked “Why should I refinance my loan?” If you ask the Australian Consumer & Competition Commission (ACCC), the answer is clear: Most borrowers are paying far higher amounts to their lenders than the best rates currently available in the market. And, the major banks are probably the biggest offenders as their ‘carded … Continued

Michael Royal, our Senior Finance Specialist, is a member of BNI Powerhouse which is based in Altona VIC 3018.  Below is a list of members in his BNI chapter. These are business owners Michael has developed a deeper relationship with and he has either used them himself or others he knows have used them and … Continued

Hi, Just a friendly reminder that if you do your own taxes, you need to lodge your tax return by October 31. In the meantime, here are four stories about property, finance… and taxes: – Some fixed loans getting cheaper – Why banks will have to go green – New property listings rise 6.5% – … Continued

Seven out of ten borrowers use a broker.  So, if you are reading this, there is a 70% chance you are already using a broker.  (Tick that box!) As the proportion of borrowers using a broker has increased over the past 20 years, it is fair to surmise that brokers are doing something which local … Continued

  Michael Royal, our Senior Finance Specialist, is a member of BNI Powerhouse which is based in Altona VIC 3018. BNI – some background and context BNI is a worldwide referral network for business owners who are looking to grow their business.   There are over 288,000 members across the globe and many of the members … Continued

In other articles, we have shown that brokers now process more loans than the Big 4 Banks – about 6 out of 10 borrowers now use a broker and 1 in 4 borrowers who are with a Big 4 Bank are looking to change. When shopping for a loan, here are 6 common issues borrowers … Continued

Author: Michael Royal Finance Specialist M: 0411 190 474 E: michael.royal@bir.net.au   The finance markets are always changing.  Lenders are regularly updating their products and providing new points of difference to help them compete and gain market share. Plus, the number of lenders has never been more diverse.  Whilst the High Street lenders (the Big … Continued

As a broker, we have seen it all.  So, let’s open your eyes up to some things which you probably know but may not have thought about too deeply.  (I mean, when it comes to borrowing, it can be hard to get enthusiastic). Whilst we love the big banks when they offer our customers the … Continued

1. All borrowers’ circumstances are not the same In today’s fluid world, nearly all borrowers have different histories of work, credit experience, income, households, expenses – and the list goes on. For this reason, the advertised ‘low rates’ being advertised by a lender might only apply to a small percentage of the borrower market: for … Continued

What is private lending, who are these lenders and who are their clients? Adapted from an article written in The Adviser https://www.theadviser.com.au/lender/42889-breaking-the-mould   But first, some background Private lenders…. The term might conjure up all sorts of images!  In an industry which has historically been dominated by the Big 4 banks, there is increasing pressure … Continued

Author: Michael Royal, Finance Specialist, BIR Solutions www.bir.net.au March 2022   How do you turn a large fortune into a small fortune? Get a reno! 🤣🤣🤣 So, you have run out of space or you just need to spruce things up.  You have a chat with your architect and you see the estimated cost and … Continued

This is a great time to be a property investor, with the national vacancy rate falling to a 16-year low. SQM Research has reported that the vacancy rate (the share of untenanted rental properties) in January was a very low 1.3%, down from a moderate 2.0% the year before. Melbourne, Sydney, and Brisbane, which have … Continued

Getting a loan for your next property purchase or refinance is already a big enough issue, without the hassle of a poor credit report. Whilst there are lenders who will lend without referencing a credit report, and there are lenders who will lend to you even if you have a low credit score, the reality … Continued

Less than 1 percent of investors ever succeed in building a substantial property portfolio. Here are 17 truths to help you avoid becoming a statistic. Today, I’m not holding back. I’m going to tell you some brutal truths about property investing. You’ll learn some of the things that can go wrong, you’ll learn about the … Continued

Before we start…. For further content, please visit https://www.bir.net.au/blog/ And, if you would like a Free Property Report, you can order yours here: https://www.bir.net.au/report-request. You can obtain a report for a particular property, suburb or region in Australia, so you can make informed property decisions. Plus, our suburb reports now provide a comparison report of up to 5 … Continued

Background James Spenceley co-founded wholesale telecommunications provider Vocus in 2007, and since then the company has exceeded his expectations, turning over profit every year, with 2008-09 revenue of $5.2 million. The company was listed on last year s SmartCompany Start Up Awards. But the biggest improvement occurred only this year, when investment firm Investec bought … Continued

Let’s face it, getting a loan from a financier is not fun.  No-one goes out of their way just to get a loan.  Instead, we would all much rather focus on our dreams and our goals. Finance is just the means to achieve our dreams and goals. Plus, getting a loan is time consuming and … Continued

Robert Full’s TED video shows amazing close-ups of nature’s feet – that in itself is pretty inspiring for you to take a creative look at your business and your business strategies. But this video really shines when you look closely: you will see that what you see is not all that is there. In fact, … Continued

Did you know….. Over 55% of home and investment property loans are completed using a broker (Dec 2019 Qtr per The Advisor) rather than the customer negotiating directly with a financier?  But….. This percentage slips to around 25% of businesses who use a broker for arranging their business finance (and anecdotally, a lot of this … Continued

We all know assets are good and liabilities are bad, right? So when it comes to assets, the more the merrier would seem to be a logical conclusion to reach. Think bigger better car, a bigger better office, a bigger better inventory racking system. Well, like most things which are good for us, too much … Continued

Importance and ranking of Price, Quality and Service As with most things we purchase, we are governed by the three aspects of Price, Quality and Service – or the PQS Matrix as we have called it. As with most things we purchase, when you talk to people about borrowing money, their top of mind consideration … Continued

Where we are now Over 6 in 10 home loan borrowers now use a broker (but only 2 out of 10 businesses – and this will change rapidly now that businesses are getting access to a lot of borrowing options which were not previously available to them). And, a recent survey showed that 1 in … Continued

Reprint of an article in www.smartcompany.com.au  July 2010 by Patrick Stafford Whilst not a recent article, it nicely explains a lot of the issues expanding business face. Background James Spenceley co-founded wholesale telecommunications provider Vocus in 2007, and since then the  company has exceeded his expectations, turning over profit every year, with 2008-09 revenue of … Continued

In other articles, we have shown that brokers now process more loans than the Big 4 Banks – about 6 out of 10 borrowers now use a broker and 1 in 4 borrowers who are with a Big 4 Bank are looking to change. When shopping for a loan, here are 6 common issues borrowers … Continued

Are you a winner in this year’s budget? BIR has the answer! The 2021-22 budget has now been released. There’s a lot of talk and I want to help break down the key initiatives targeting home ownership which could help you get into the property market sooner.   Family Home Guarantee  This is a newly … Continued