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What a situation we have ourselves in! We can revert to basic needs analysis, health, food and shelter and hopefully you are all okay in these categories in Australia.
Fortunately, we are still operating under the current restrictions and are eager to help you with any finance goals you have, completely free - no fee. The bank you choose for finance compensates us for the referral.
Economically, all property owners are reaping the rewards with property values increasing by 30% in the past 6 months on the Eastern Seaboard. Low interest rates are the only indicator for this phenomenon. Will this continue?...
My guess is yes, however not at the rate we witnessed in the first 6 months of 2021.
Fixed rates are still available for 5 years under 2.50% p.a.
However, rental yields have reduced and are conservatively at 1.5%. With capital growth the way it is, property investment remains one of the two best investment options. Equities being the other. I wish you and your families all the best and hope everyone is keeping healthy and safe.
- Richard
Interest rates are changing every day. To make sure that you are paying the least interest on your mortgage, it is important to conduct a review of your loans.
At Glynn Finance we offer an obligation free mortgage review to all new and existing customers. Using our panel of over 25 Australian lenders we will compare your current loan/s with the best offers available on the market. We will then provide you with a comprehensive report.
A slightly lower interest rate could save you a lot of money over the life of your loan. Reducing your rate by 0.50% would save you $2,500 in interest every year on a $500,000 mortgage. To get your complimentary rate review started today, visit our Rate My Rate page or contact us today!
In recent months, the demand for responsible mortgage providers has dramatically increased. Many clients will now consider the environmental, social and governance standards of each lender when selecting their preferred product.
Fortunately, this demand has been met with a handful of responsible lenders.
At Glynn Finance, we have accreditation with these banks that aim for fully carbon neutral operations, invest into renewable energy and focus on ethical practices. These lenders provide products that consider more than just the mortgage.
If you are interested in the ethical mortgage alternatives and would like to understand more, contact us today!
| ESG Product | Interest Rate |
|---|---|
| Owner-Occupied, Variable Principal & Interest | 2.29% p.a. |
| Owner-Occupied, 2 Years Fixed Principal & Interest | 2.09% p.a. |
| Investment, Variable Interest Only | 2.89% p.a. |
| Investment, 3 Years Fixed Interest Only | 2.39% p.a. |
Owner-Occupied Loans are undertaken by people who will reside in the premises for 12 twelve months. They can be a basic product with the lowest interest rates available and/or a fully featured product.
Fully featured products offer 100% off-set accounts, multiple loan accounts, credit and debit cards. They can give you the flexibility to split your loan into a portion on a fixed rate and a portion on a variable rate. The fixed rate gives you the security of knowing your repayments for up to 5 years. The variable gives you banking flexibility, interest savings (if rates reduce), and off-set accounts.
For those wanting to take advantage of other features, a 'packaged product' can offer just that. These packages include an Offset Account, the option to open a new Credit Card and other beneficial choices.
To learn more about the options available to you, contact us today!
| Loan Category | Interest Rate |
|---|---|
| Best Variable Basic Product | 1.99% p.a. |
| Best Variable Package Product with Offset Account | 2.29% p.a. |
| 1 Year Fixed | 1.89% p.a. |
| 2 Years Fixed | 1.84% p.a. |
| 3 Years Fixed | 1.89% p.a. |
| 4 Years Fixed | 2.14% p.a. |
| 5 Years Fixed | 2.49% p.a. |
Building wealth through property investment is a great way to achieve your financial goals. By purchasing an investment property, you can generate rental income and capital gains on the property.
Investment loans are available with interest only repayments for 1, 2, 3, 4 or 5 year periods. Selecting the right investment loan will make a big difference to your investment return and your cashflow. Investment loans are available with both interest only and principal and interest repayments.
For more information regarding our investment loans, contact us today!
| Investment Product | Interest Rate |
|---|---|
| Variable, IO | 2.39% p.a. |
| 2 Years Fixed, IO | 2.39% p.a. |
| 3 Years Fixed, IO | 2.39% p.a. |
| 4 Years Fixed, IO | 2.64% p.a. |
| 5 Years Fixed, IO | 2.78% p.a. |
Fixed Rates are a great option for home buyers and investors. They offer the chance to fix your interest rate for 1, 2, 3, 4 or 5 years. Should interest rates go up in the near future, your loan repayments will not be impacted.
Not only does this give you the certainty of repayments moving forward, but fixed interest rates can be lower than some variable rate alternatives.
Fixed interest rates are available for both owner-occupied and investment loans. Please visit the Owner Occupied/Investment Loan sections of this newsletter to learn more about the competitive fixed interest rates on offer.
For more information regarding our fixed interest rate products, contact us today!
The interest rate on your mortgage is typically lower than the interest rate on your other debts such as personal loans, business loans, vehicle finance, tax debt and credit cards. That's why debt consolidation is a great way to reduce your overall interest expense on those unsecured high interest debts.
At Glynn Finance, we know that consolidating debt into is a smart, money-saving strategy. We have helped many customers consolidate their debts and free up their cashflow and we can help you too. This is generally achieved by taking a first registered mortgage over residential property.
To assess your options and discuss debt consolidation further, contact us today!
Vehicle finance is a great way to purchase a vehicle without incurring the large upfront payment. At Glynn Finance we offer various car finance structures including Novated Lease, Standard Lease, Commercial Loan and Commercial Hire purchase.
Aside from spreading the cost of the vehicle purchase, car finance is also tax deductible if the car is used for business purposes. This can help you save come tax time.
We have a wide range of vehicle finance lenders on our panel. If you would like to discuss vehicle finance or get an application ready, contact us today!
| Product Type | Interest Rate |
|---|---|
| Cars and Light Commercial Vehicles | From 4.19% p.a. |
| New Plant and Equipment | From 4.69% p.a. |
Glynn Finance clients have greatly improved their wealth through refinancing their existing mortgage or accessing finance for investment purposes. In scenario 1, we look at how a simple mortgage refinance can drastically change your financial position.
Scenario 1: Refinancing to obtain a lower interest rate.
| Property Value | $1,500,000 |
| Existing Mortgage Debt | $500,000 |
| Rate and Repayment Type | Variable, Principal and Interest |
| Existing Interest Rate | 3.20% p.a. |
Many individuals will have an interest rate between 3% and 3.50% p.a. on their home mortgage. However, owner-occupied rates are currently available from 2.19% p.a. (Variable, P&I product). In this scenario, refinancing your mortgage reduces your interest rate by 1.01% p.a.:
| NEW Interest Rate | 2.19% p.a. |
| NEW Mortgage Repayments | $1,896/month, $22,752/year |
| TOTAL INTEREST SAVINGS | $421/month, $5,050/year |
Once the refinance is complete, this client is saving $5,050 in interest charges per year and now has access to more disposable income.
In scenario 2, we look at how the client above can access available equity in their home to generate fantastic cashflow through investment.
Scenario 2: Equity Release of $500,000 from property for investment purposes.
| Existing Mortgage Debt | $500,000 |
| Equity Release Amount | $500,000 |
| NEW Mortgage Debt | $1,000,000 |
| Rate and Repayment Type | Variable, Interest Only |
| NEW Interest Rate | 2.39% p.a. |
| Repayments on $500k Equity Release | $996/month, $11,952/year |
In this scenario, the loan has been increased by $500,000. Although this increases the repayments on the mortgage, investing these funds will generate a positive return, as shown below.
| NEW Funds Invested | $500,000 |
| Yield on Investment | 8.00% |
| Return on Investment | $3,333/month, $39,996/year |
| Net Return on Equity Release | $28,044/year |
After taking out the available equity from their home, the client has re-invested these funds into a well-performing investment fund. This has generated nearly $40,000 in cashflow each year. After considering the additional repayments being made on the mortgage, the equity release is generating a net return of $28,044 per year.