SERVICES

For most First Time Homeowners, the budget is tight and knowing which way to turn can be confusing.  Arranging the correct mortgage is vital to ensure you are on the right path, from day one.  That is what we do. We meet with you and take you through the process of property purchase, explain how mortgages actually work, we search to see if you fit any of the government incentive schemes and we check to see if you qualify for any of the government grants which in most cases can save you thousands of dollars in set up costs. We calculate your borrowing capacity; your weekly repayments and we help you arrive at an overall budget that you can purchase at. 

Investment property purchase has become incredibly popular in recent times, especially to assist with retirement. This is because people realize they need to diversify from the conventional investments such as Super and equity-based investments, and they want more of a tangible investment, one they can see, touch and feel. Investment lending is structured in such a way that it allows you to maximize your benefits through tax deductions, but more importantly enables you, the investor, to benefit from the property market directly.  Depending on whether your investment strategy is for capital growth or long-term income, the mortgage can be arranged to accommodate either, all with a view to maximizing your return on investment over the term. 

Naturally, we all want to help our children move forward in life, regardless of their age, because we always want them to prosper and grow and one of the ways to do this is by helping them purchase property.  However, this sometimes conflicts with our own agenda as the older we get the more of our cash savings we need to retain, to help us as we approach retirement.  So, it’s a dilemma.  In addition to this there is also the question of parents gifting funds to children before they’ve entered into, or just come out of relationships and the complexities surrounding those funds in the event of separation.  In all these scenarios Guarantor lending helps to straighten out some of these challenges.  Guarantor lending enables the parents to assist their children with property purchase whilst at the same time ensuring the parents funds remain with them.  Guarantor lending is also an excellent way to ensure both children and their partners start their property purchase on an equal footing.  In addition to these benefits the other advantage to guarantor lending is that it reduces the purchasing costs as it mitigates lenders mortgage insurance.  A win-win.

Within mortgage products most banks will commonly offer: Fixed rates and variable rates.

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The variable rate loan offers more features and flexibility than the basic fixed rate loan, so the rate is usually slightly higher. Fixed rate loans are set at a fixed rate for a specified period – usually one to five years. This gives you the advantage of knowing how much your repayments will be, allowing you to organise your finances without the risk of rising interest rates. However, this advantage is offset by the possibility of not benefiting from a reduction in rates.

A bridging loan may be necessary to cover the financial gap when buying one property before your existing one is sold. This finance is secured against the existing property (utilising equity) and the new property being purchased. Usually, bridging loans are short term (normally 6 months) to allow for the sale of the original property and more expensive than other types of loans. There are alternative ways to finance a change from one home to another, so please talk with us to discuss your options.

Need finance for another large purchase besides your home? You can also ask us to access competitive finance options for private cars and recreational vehicles, commercial vehicles, plant and equipment for your business and other kinds of small business loans for a variety of purposes. These finance options may include personal loans, car loans, a variety of leases, commercial leasing options, chattel mortgages and more.

In recent years it has become popular to purchase property within a Self-Managed Super Fund (SMSF). This provides you with certain tax advantages, however the super fund needs to comply with certain criteria laid down by lenders that have an appetite for this market.  As every case is taken on it’s own merits, call us to discuss this option in more detail, where we can explain lenders’ appetites and the criteria they set.

We realise that running your own business comes with a whole host of other factors you need to think about.  With the way income flows through a business it can also be more difficult to end up with figures that will provide the right level of borrowing capacity under a normal calculation.  That’s why we specialize in assisting with self-employed lending and help them purchase property.  We have an acute understanding of how your income is calculated as a self-employed individual, we also have an acute understanding of how to present to the banks and which lenders have an appetite to assist.  

It is a well-known fact that in most businesses these days, it’s the existing customers who pay for the great deals new customers are offered.  As an existing customer of any business, we don’t think that system could be any more offensive. Existing customers bring reliability, loyalty and consistency to any business.  In the Banking sector it is no different, as existing customers are always “floated” into interest rates that are only available to existing customers, because they are generally higher than those offered to the banks new customers.  At Square Peg, we do not believe in maintaining the set and forget attitude towards our mortgage.  The banks love set and forget because it generates them more revenue.  So once we know what the offering is from your existing lender, we compare that to the market and if it’s not competitive, I our philosophy is to make a new customer to another bank, therefore providing you with access to market leading rates, competitive products with the aim of reducing the interest you pay and reducing the term of your mortgage.  Talk to us today about comparing your current arrangements with the market, you will be surprised at the savings you can make.  

Commercial Lending comes with a whole different set of criteria than Personal Residential Lending. 

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In the commercial sector lenders will have criteria that requires them to run frequent reviews on your business, the value of the property and your financial circumstances, with their being a potential cost where variations have occurred.  So it’s important for us to seek lending that takes a more relaxed approach to you as a client and the situation you come with.  As commercial lending is bespoke to your requirements and circumstances, call us to discuss in more detail, where we can outline the difference in lenders and their appetites.