Belinda Gibson
Google Reviews, the ultimate gift...

Recently, a client went out of their way in their own time and uploaded an exceptionally well thought out and complimentary review of her experience with TM Finance Group. It totally blew us away. …

Belinda Gibson
TMFG's Budget Tips for new homeowners...

Your budget should be based off your take home income, from your base pay–if you receive overtime or allowances try not to include this.

 

Being a homeowner, you'll now have new bills to pay that you’ve never had before. So, in your homeowner budget be sure to consider; internet, gas, electricity, council rates, body corporate fees, building insurance, transport costs (tolls, petrol, car service, rego) and the big one in these hard times…. FOOD!!

Belinda Gibson
Businesses have less than six months to claim ...

The clock is ticking for businesses that want to take advantage of the instant asset write‑off and Small Business Energy Incentive, which expire on 30 June.

Belinda Gibson
Portability; The Magic of Mobility!

TM Finance Group Mortgage Broker, Kylie Donnelly explores and explains Portability…

Belinda Gibson
Property market still growing despite high rates

first home buyers

Home Stories. Stories from the home of TMFG.

Home Stories. Stories from the home of TMFG.

The bank declined my first home loan application. And the house was only $33,000. They were right to though. I was just 19 at the time and really had no record of savings that showed I was ready for the commitment of a mortgage.

As a mortgage broker who’s worked in finance for over 16 years I’m regularly on the other side of the desk from people jumping into the property market for the first time. I still have to occasionally check myself to remember exactly what that felt like.

To save for your first deposit, or take the plunge into renovating or buy an investment property.

And, although those memories are often overridden by my clients’ experiences truth is, you’ll never forget your first.

I decided to go deep into my memory and recall for you all my very own experiences over the years in buying, renovating, or investing in homes in the hope my personal Home Stories inspire you to jump in if you haven’t already. Or for property-owning novices, I hope my stories spark fond (or scary memories) of your own first…and second, and third home stories.

Either way, I welcome you to share with me your stories as I travel down memory lane. Enjoy!

 

Millennials are looking for greener pastures, bigger homes and some home loan guidance, report says.

Millennials are looking for greener pastures, bigger homes and some home loan guidance, report says.

Australian millenials are ready to buy and are on the hunt for larger, suburban properties for their first home purchase, a report commissioned by ING reveals.

ING’s new Millennial Homeownership Report revealed;

·      57% of Australians aged between 22-37 years old are cutting back on indulgent dinners, travel, and even weddings to save for a home deposit.  

·      38% of those surveyed are ready to purchase in the next 3 years.

·      61% are happy to live a little out of the city, in un-established, ‘less cool’ areas

·      88% of millennials want to own a home to give them a sense of security about the future

So what’s stopping them?

At just 24 years of age, Anne has her financial future in the bag.

At just 24 years of age, Anne has her financial future in the bag.

TM PEOPLE

 Anne, new home owner.

One week before her mortgage settled Anne purchased a Chanel handbag. Not willing to divulge how much she spent on it, Anne believes it was a wise investment. And why shouldn’t a 24 year old who’s spent years studying and now has a well-paying, secure fulltime job buy her self a handbag?

First home loan was smooth sailing for this first mate, thanks to TMFG!

First home loan was smooth sailing for this first mate, thanks to TMFG!

Similar to a good sailor, a good investor gets to know the climate, the conditions, and plots their course wisely before embarking on any big venture.

Buying your first home is one of the biggest ventures in most investor’s lives.

Meet Ashley, skilled sailor, and now, with some thanks to TMFG, skilled investor, and home owner.

Guarantor Loans Explained

Guarantor Loans Explained

Saving for a deposit is time consuming and costly to say the least!  Obtaining a 20% deposit is difficult in a rising property market, and can restrict first home buyers.  Lending becomes tighter for loans over 80%, and a Lenders Mortgage Insurance Premium is additionally required.  When adding on stamp duties, government charges and solicitor fees, things can start to add up quickly!

Guarantor loans can offer a solution to this, allowing you to purchase with a lower deposit required.
 

So, what is a guarantor loan?

Your guarantor essentially ‘guarantees’ your home loan by using their property as security.  That is, the bank holds both your property and your guarantor's property as security.  Most commonly, parental guarantees assist in buying first homes.  Say you wanted to purchase a property for $500k, but only had $25k cash savings, your parents could guarantee an additional $75k against their property to reduce your lending value to 80% of the purchase price.

What are the benefits?

  • Lower deposit required
  • Overall loan is 80% or less - so no Lenders Mortgage Insurance is required
  • Interest rate may be lower - as rates with some lenders are tiered for loans above 80%
  • Some lenders allow you to limit the size of the guarantee

Get your future started with TMFG

Speak to one of our consultants today