No point in saving, best you can do is invest a lot wisely otherwise inflation will eat at your savings!
@MortgageBrokerAustralia Жыл бұрын
Thanks for sharing Johnny
@yoenyoen31212 жыл бұрын
I have a question that looks complicated maybe someone can help me out, my partner has owned with his brother before but I have never lived in that property, only my partners live there and I and partners rent another unit in CBD so now I want to go buy a unit for my own name. Do couples(me) lose first-time buyer status if one partner bought in past Australia?
@MortgageBrokerAustralia2 жыл бұрын
Thanks Yoen, great question and can check eligibility here: www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/qld-first-home-grant/apply-first-home-grant/first-home-check-eligibility
@yoenyoen31212 жыл бұрын
@@MortgageBrokerAustralia problem I don't find that answer i still confious should apply first home buyer or no because that property i buy in my own name and my boyfriend will live with me but he already have home with he brother and they live in there
@user-kn6mg8hg9d2 жыл бұрын
CONTACT Uncle Tobian🔝🔝 is the best when it comes to credit repair, Loan repair, Bankruptcy, inquiries/collections and so many more... He helped me boost my score to 850 and also clear off my hard inquiries. Contact him and see for your self. His contact is situated above'' name tag ''up.🔝🔝
@crystalclearsky212 жыл бұрын
Hi there! Your partner already has a first home( doesnt matter he shared it with his bro) if you want first home buyers statue, it has to be under your name or with someone never own home before. Hope it helps.
@ramratansinghi86612 жыл бұрын
Hey Guys, how can I Connect with you for Foreign Buyer Home Loan for an Apartment Unit in GC?
@MortgageBrokerAustralia2 жыл бұрын
Thanks for watching Ram, unfortunately this would be something we'd struggle to assist with.
@user-kn6mg8hg9d2 жыл бұрын
CONTACT Uncle Tobian🔝🔝 is the best when it comes to credit repair, Loan repair, Bankruptcy, inquiries/collections and so many more... He helped me boost my score to 850 and also clear off my hard inquiries. Contact him and see for your self. His contact is situated above'' name tag ''up.🔝🔝
@Mic1000t Жыл бұрын
Is there a point to pay f/n payments when you already have an offset account that's already reducing it on a daily basis? So regardless if you pay f/n or you have the money in the offset account you are reducing the interest. Can someone help me please ?
@MortgageBrokerAustralia Жыл бұрын
Hi FuLLiTurk. It sounds like you're asking whether there is a benefit to making fortnightly (f/n) mortgage repayments when you already have an offset account that is reducing your interest payments. It's a good question, and the answer largely depends on your personal financial circumstances and the specifics of your loan agreement. However, I can provide a general response based on common Australian mortgage practices. Firstly, an offset account works by offsetting the amount of money you owe on your home loan with the money in your savings account. For example, if you owe $400,000 on your mortgage and have $100,000 in your offset account, you'll only pay interest on $300,000. The benefit is that you're effectively reducing the amount of interest you pay. Now, let's consider making fortnightly repayments. If your mortgage allows for fortnightly repayments, you actually end up paying more off your mortgage each year than if you were making monthly repayments. This is because there are 26 fortnights in a year, so you're effectively making an extra month's payment every year (compared to 12 monthly payments). This can help you pay off your loan faster. So, is there a point to making fortnightly payments even if you have an offset account? Here are a few considerations: Paying Down Principal: Even though an offset account can reduce your interest, it doesn't reduce your principal. Making regular payments (especially more frequent ones like fortnightly) helps you reduce the principal faster. Savings Discipline: Regular repayments may also provide a structured way to ensure you are consistently putting money towards your mortgage. It can be a good discipline tool if you find it challenging to save money in your offset account. Flexibility: Money in an offset account can be accessed at any time. If you have a tendency to dip into savings, this could end up being a disadvantage. Regular payments directly onto the mortgage aren't accessible once paid. Interest Savings: With fortnightly payments, the principal decreases more rapidly, which means the interest calculated (even if you have an offset account) will be less over the life of the loan. So, while having an offset account does indeed reduce the amount of interest you pay, making fortnightly payments can complement this strategy by helping to pay down the principal more quickly. As always, you should consult with a mortgage broker (like ourselves: www.huntergalloway.com.au/contact/) to discuss the specifics of your situation. They can help you decide the best strategy based on your personal financial goals and circumstances.
@Mic1000t Жыл бұрын
@MortgageBrokerAustralia Thank you for your response and i understand about being more disipline and putting more money away. I guess it will be more beneficial to pay double the repayment once off instead of spreading that extra repayment across 26 f/n's which will save you more interest, correct me of i am wrong...? But it totally make sence to set it up as f/n or half monthly for the extra repayments and forces you to be more responsible woth expenses. It all adds up.
@MortgageBrokerAustralia Жыл бұрын
Thanks Mic. You are correct in thinking that making a lump sum repayment can be more beneficial than spreading the extra repayment across multiple installments. When you make a double repayment once off, you reduce the principal amount (the original loan amount) faster, which in turn reduces the total amount of interest you will pay over the life of the loan. This can result in significant interest savings. On the other hand, making regular extra repayments, either on a fortnightly or monthly basis, can also be advantageous. By making more frequent repayments, you effectively reduce the outstanding balance of the loan more quickly, which reduces the interest charged on the remaining balance. This can also lead to interest savings over time. Ultimately, the best approach depends on your individual financial situation and goals. Both options have their advantages. If you have a lump sum available and want to minimize the overall interest paid, making a double repayment once off can be a smart choice. However, if you prefer a more disciplined approach to managing your finances and want to make regular additional repayments, setting up fortnightly or monthly payments can help you stay on track and pay off your loan sooner.
@fouzia1996 Жыл бұрын
@@MortgageBrokerAustralia❤
@akilaliyanage Жыл бұрын
Saving in a completely different bank? Not sure if this is wise advice
@chuckmaddison2924 Жыл бұрын
Old saying, "Don't put all your eggs in one basket. Banks fail. Otherwise different accounts, Savings , every day, utilities.
@rcast37632 жыл бұрын
Paid in 5 years!? Clickbait 😒 More like save 5 years 🤣
@MortgageBrokerAustralia2 жыл бұрын
Thanks for watching
@Peter-uf1hd5 ай бұрын
Seriously you start a video about the super wealthy and they go broke it's nothing to do with a mortgage
@marie-louiseleroux8282 жыл бұрын
Am thinking of getting into crypto investment crypto is indeed the future
@allisonmoore57122 жыл бұрын
I have been thinking of the same thing but I will love to work with a broker or Expert..
@thomassterne5992 жыл бұрын
Yeah me too, I think that's the best so we can learn more from the experts•
@greysonyhk28262 жыл бұрын
After I came across Mr Dave Javens trading platform my financial life has totally changed. right now try him out guess his a good option...
@charlesthomas27352 жыл бұрын
Wow!!! Really you know him too? well his well known in UK and his strategies are really good and well secured...
@abubakar_Abson2 жыл бұрын
Personally as a first time coin investor, I started trading with Dave Javens With $700now my portfolio is worth $1,120 within the space of coin future it risling Day by day with the Time🤷....
@PaulVermeer2 жыл бұрын
What a load of rubbish. Rent, groceries, health insurance, dental, medical, gym membership, power needs to be paid first. For most people that does not leave 40% to put away for savings. This type of advice is just such a lot of rubbish.
@kenichi11322 жыл бұрын
No its not. Problem is people get greedy in their first homes and go too much on a loan. I went a very cheap house I coukd very easily. I will be debt free in under 7 years of mortgage. Because I make far more than the repayments. Not because I earn heaps but because I live conservatively and make sacrifices. People always say rubbish are those that get offended by people judging their budgeting and spending habits and won't take advice or learn how to budget from an expert.
@MortgageBrokerAustralia2 жыл бұрын
Thanks for watching
@agnosticpatriot9 ай бұрын
@@kenichi1132Sadly, im having a rubbish wife who fd my life pushing me to buy a 1m house. Now suffering lost of 80% of my salary. Also it's a h&l package. When i talk about financial issues she tells me to sell the house. Most porbably i will divorce her in the next two years after selling this house and become jobless.😂
@kenichi11329 ай бұрын
@@agnosticpatriot selling the house is exactly what you need to do to get yourself in order. Get rid of debt. Then yes. Divorce her only after you spent all the money you make off the house or put it where she can't touch it, like a trusted family member. I'm sorry you feel trapped. But as men we can achieve so much when we are single in such a short space of time with nobody to hold us back from working. Your far better off building your fortune and then get a girl once you hold the money and never ever marry again. If you don't have children to her make sure you don't have any. It will screw up your life even more and no child wants a broken home or a dad who is miserable.
@Peter-uf1hd5 ай бұрын
Instead of expecting the payroll department to manage your finances, take responsibly yourself. We all use internet banking set up your own transfers if you cant manage your finances don't expect the payroll department to step in because your so bad at managing your money - Really your videos are shiteeeee advise when it comes to just get the payroll department to split your pay do you know how much is involved in this behind the scenes when staff frackkk things up with incorrect details - of course you don't do you even care? noooooooo