Shane, Author at Pearl Financial

All Posts by Shane

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About the Author

Shane specialises in helping Gen Y professionals and business owners make an impact by accumulating more assets, generating more income, and having more time to enjoy life. He has a Master of Applied Finance, an MBA, and a Master of Financial Planning. He is also a terrible golfer.

May 23

First-Home Buyers Have Big Opportunities

By Shane | First Home Buyer

With home prices falling in the Sydney and Melbourne property markets first-home buyers could find some big opportunities, especially if they have their deposits ready now. Throughout this year, most real estate pundits believe property values in the capital cities will stay relatively flat in 2019, even though Domain’s Property Price Forecast(1) has some cities possibly posting modest gains. There’s also less competition for first-home buyers with many would-be investors having left the market after the banks tightened their lending practices and reduced opportunities for short-term capital growth. In this scenario, first-home buyers have an opportunity to buy a property before prices start to rise again.

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Apr 18

Should You Build Or Should You Buy? – know The Costs Involved

By Shane | Costs Involved

Australians looking for a new home have two options – build a new one from scratch or buy a ready-built one. There are a few factors that will affect your final decision such as the time required for constructing a new house versus moving into an existing property as well as the differences in each one’s costs. A mortgage consultant can talk you through all relevant costs for each option. Here’s some background on what each one entails.

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Liverpool Mortgage broker questions
Apr 04

Four Questions to Ask Your Mortgage Broker

By Shane | Fundamentals

The property market is a quagmire, fraught with pitfalls that can render any investment decision a poor one. As a buyer, you have to make sense of the different types of mortgage interest rates and home loans are available and know which one will be most favourable to your current financial situation. It can be a nightmare to make sense of without a qualified and experienced mortgage broker at your side. Asking the right questions will ensure that you find the most suitable mortgage broker in Liverpool for your needs. Use these four questions to help guide your decision.

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APRA Announce Removal of Interest Rate Restrictions
Dec 19

APRA Announces Removal of Interest Rate Restrictions

By Shane | News

In March 2017, the Australian Prudential Regulation Authority (APRA) introduced measures to reduce the amount of interest-only loans in the residential lending market. One of these measures was a benchmark for lenders to keep new interest-only lending below 30% of their total new lending.

On the 19th December 2018, APRA announced that they would be removing this benchmark as they have noted that there has been a noticeable reduction in the amount of new interest-only lending, with the proportion now significantly below the 30% benchmark. Continue reading

Employment Confirmation Letter
Dec 14

Home Loan Employment Confirmation Letter

By Shane | Fundamentals

Since the Royal Commission kicked off in April banks & lenders have really cracked down on documentation requirements for all home loan applications. This means that you may be asked to provide a Letter Of Employment for a mortgage application.

In this blog, I will walk you through all you need to know about home loan employment confirmation letters and I’ll even give you a template.Continue reading

Interest rate decision
Dec 04

December 2018 Interest Rate Decision

By Shane | Interest Rates

On Tuesday 4th December 2018 the RBA decided to leave the official interest rate at 1.5%. This means that the official interest rate will be stable for at least two months since the RBA does not meet in January. Their next meeting will be in February 2019.

Even though the RBA has kept rates on hold, it sometimes does not stop lenders from increasing their rates out-of-cycle. It will be interesting to see how the first few months of 2019 play out.

The RBA state that they see economic conditions improving and that the next interest rate movement is likely to be up.

You can read more about the decision here.

home loan requirements for self employed
Dec 02

Home Loan Requirements For Self Employed

By Shane | Self-Employed

When it comes time to apply for a home loan there is going to be a requirement to provide the lender supporting documentation along with the application. If you’re self-employed, then the requirements may be slightly different. To make sure that you are prepared, let’s take a look at the home loan requirements for self-employed people.

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