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Blackburne Money
Financial Consultant
Today 8:30 am – 8:30 pm
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2/1050 Hay St West Perth WA 6005 Australia
2/1050 Hay StreetAUWestern AustraliaWest Perth6005
+61 8 9429 5721blackburnemoney.com.au
Financial Consultant, Mortgage Broker
Financial Consultant
Mortgage Broker
Loan Agency
Financial Planner
Mortgage Lender
Today 8:30 am – 8:30 pm
Monday 8:30 am – 8:30 pmTuesday 8:30 am – 8:30 pmWednesday 8:30 am – 8:30 pmThursday 8:30 am – 8:30 pmFriday 8:30 am – 8:30 pmSaturday 8:30 am – 5:00 pmSunday Closed
Blackburne Money Pty Ltd has an award winning and dedicated team of expert mortgage brokers ready to assist you with all of your finance needs.  Whether you are purchasing a property personally or in Self Managed Superannuation, refinancing or you simply want to make sure your existing loans are competitive in today’s market, let our team recommend the best options.
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Blackburne Money

General Discussion  - 
 
The big 4 banks are losing market share

Are you with the Big 4 Banks? Or have you recently switched to a new, smaller bank?

According to research from online financial comparison company RateCity it appears that more borrowers are switching to smaller banks and taking away that precious market share from the major banks. - Read more from our blog: http://bit.ly/UU4v0t
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What Makes For A Better Investment, Shares Or Property?

It is a question that is hard to answer and one that many have asked over the last 50 years.
 
The following chart gives an outline of the performance of the two asset classes over the last 10 and 20 year periods to December 2013. - http://goo.gl/YCYl8d
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Blackburne Money

Mortgages & Financing  - 
 
A client is denied and they are clueless as to why

There are many reasons why a mortgage loan could be declined.
One of the benefits of dealing with a broker is the ability to find out which lender is best for them. In the article below  are briefly outlined some of the issues to watch. Things such as your debt to income ratio are key to your approval.
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$1 in $3 lands in Self Managed Super Funds

Recently released information from the Australian Prudential Regulation Authority and government bodies shows the total amount invested in Self Managed Superannuation Funds (SMSF’s) has exceeded $558 billion for the first time.

This accounts for 31% of the total superannuation pie in Australia. The total number of SMSF’s now exceeds 527,000 which more than double the 227,000 active SMSF’s in 2002. Forward estimates by Deloitte suggests the trend towards Australian’s taking control of how their superannuation funds are invested will exceed $2.2 trillion by 2033. With the surge towards SMSF growing exponentially, the Federal Government has recently taken steps to tighten up the auditing process so getting the right advice and structure is more important than ever.
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Blackburne Money

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A guide to home loans

Variable

Variable rate loans often provide additional flexibility and are the most popular type of home loan in Australia. As the name suggests the interest rate is variable and therefore fluctuates with the Reserve Bank of Australia’s movement and the cost of the financial institution sourcing funds to lend. Variable rates are generally broken into two categories by financial institutions: basic and standard.
As the name suggests the basic variable rate only covers the basic home loan features. On these loans you won’t have access to features such as a redraw facility; however this also means the interest rate is generally slightly lower than other loans.
The standard variable rate is traditionally slightly higher than the basic variable, however along with this you receive extra features such as a redraw facility, repayment frequency flexibility, portability and the option to pay in advance.
Variable loans generally require closer monitoring, especially if you overcapitalise and interest rates rise. It is important to make sure that you budget and plan for the future should interest rates rise, to ensure that you are able to meet the required repayments.

Fixed

Fixed rate loans generally have all of the features of a standard variable product; however the interest rate is fixed generally from one to five years. Fixed rate products are great products to help maintain the household budget because the repayments will not change during the fixed period.
However, a fixed rate loan means you could end up paying more if interest rates fall. It is possible to exit the loan agreement if you feel it is right to do so, although lenders will generally charge penalty fees to compensate for any loss in profits they may suffer.

Introductory and Honeymoon

Introductory or Honeymoon loans are generally popular for first home buyers, however this doesn’t mean that these are the only people who can access these products. Honeymoon loans give individuals a discounted interest rate for the first six to twelve months depending on the product. After this period expires, the loan generally reverts to the lenders standard variable product.
Although it may be tempting to take out a Honeymoon loan because of it’s reduced interest rate, it is important to watch out for restrictions or exclusions on other aspects of the loan. Many lenders will limit the availability of features (such as redraw facilities, repayments etc.) to offset the lower interest rate. In some cases this can mean less flexibility over the life of the loan.

Interest Only

Interest only loans are particularly popular for investors. The repayments of interest only loans will be lower than an ordinary loan because you only pay the interest charges each month – you aren’t required to pay off the principal.
Some interest only loans are available for owneroccupier clients; however these can be risky because your level of debt will not fall for the life of the loan. Interest only loans should be a short term option (about 5 years at the most). Also, in times when house prices may fall this may mean you have negative equity – you have borrowed more than your house is worth.

Low Doc and No Doc

Low and No Doc loans are increasingly popular in Australia, especially for self employed or contractors. As the name suggests you require less documentation to take out the loan (this is essentially proof of income and other debts etc).
Although it is generally much easier to be found eligible for these loans, it is not always the best way to go. As a result of providing less documentation the bank will generally charge a higher interest rate or additional fees because there is a higher perceived risk with applicants. If possible, in most cases you will be better off with a full doc loan (full documentation – providing the required proof of income etc) because they are a cheaper product in the long run. Although it may be less work to apply for a low or no doc option, the extra work can be worthwhile applying for a full doc loan.

So how do I know which loan to choose?

That is one of the most frequently asked questions and something that needs to be carefully considered before jumping in and signing loan documents. Really, it comes down to what you think is right for you. Speaking to a broker is a really great way to find out what loan is most appropriate for you.
A broker won’t force you to take out a product; they recommend a loan that will suit you based on the information you have given them and take care of all of the paperwork and application requirements. If you specifically would like a certain type of loan a broker is able to compare a wide range of them.
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Blackburne Money

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Happy Birthday to Trust Account Guru – Lisa Berryman

www.blackburnemoney.com.au

#birthday   #cake #party  
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Have them in circles
43 people
Anthony Petersen's profile photo
Andrew Quin's profile photo
The House Crowd's profile photo
Wes A. McKibbon's profile photo
Emily Pratt (Blackburne Property)'s profile photo
Wealth Migrate's profile photo
King David Moving & Storage's profile photo
Lucinda Pattern's profile photo
Luke Skar's profile photo
 
July 2014 state and territory economic performance report

It’s that time again; the quarterly State of the States report has been released by Commsec. The report gives a broad over view of how each state is performing economically using 8 key indicators, two of which are Housing Finance and Population Growth.
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Do you think budget jitters have passed?
Read our latest blog: http://bit.ly/1tqk2VI
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Knowing how to effectively use seller financing in your business can help you get more deals done, faster, for less money!
This epic post explains what seller financing is and how to use it to buy your next real estate deal.
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To Buy or Build?

Many buyers struggling to find the right home are going back to the drawing board and building rather than buying an existing home.
There are obvious benefits to a brand new home: you can build exactly what you want and enjoy shiny new surrounds, with no wear and tear costs for years to come. But there can be downsides to creating your castle.
Haven looks at some of the pros and cons of building versus buying.

The pros of building

You get what you want

The great pleasure of building your own home is choosing what you want for today's lifestyle. If building, you have two options: a project home or a custom-built one.
Project homes offer a suite of designs, usually with options to mix and match or upgrade some features. They are cheaper than custom-built homes because the builder works on an economy of scale for the building materials and products and knows exactly how much money will be made on each design. The other benefit is that you can tour display villages and see exactly what you will get.
A custom, or architect-designed, home will cost more but allows you to create your dream home. Just remember, the higher the quality of your materials and fittings, or the harder they are to source, the higher the cost. Size also matters, with builders working on square meterage.

You can go green

The Nationwide House Energy Rating Scheme requires all new homes to have a minimum energy rating of six stars (one being the lowest and 10 being the highest), which means lower energy and water bills for your household, plus the feel-good factor of helping the environment. Green design includes the home's aspect to make the most of natural cooling and warming, water tanks, energy efficient lighting and better-insulated windows.

You can be part of a new community

In a world where increasingly few of us know our neighbours, a new home in a new estate can help knit you into a community. New estates are generally located in high-growth areas that attract young families, a plus for those with kids who want to feel part of a neighbourhood. These estates are also carefully planned, often with new parks and purpose-built shopping centres. Some are even large enough to have their own schools, heightening the sense of community for residents.

The cons of building

Time and stress

Building a new home, even if you opt for a project design, requires your input and time. Even the simplest projects can take their toll, especially if couples disagree about certain fixtures, bad weather impacts timelines or the builder gets something wrong.
Busy people might struggle to find enough time to make decisions, liaise with the builder and other contractors and visit the building site. If that's the case, buying an existing home might be a less stressful option.

Locating land

While new homes are generally part of new communities, the trade-off is that the land is often located in outer suburbs, with fewer public transport options and longer commutes.
Finding vacant land in established areas is nigh impossible in some cities, so older homes in poor condition are being snapped up and knocked down. For many, the cost of buying and demolishing a home and building a replacement is prohibitive. If you are looking to settle in an established suburb with ample infrastructure and amenities, buying a home and renovating it to suit your needs may be more affordable and convenient.
http://goo.gl/jYX5EK
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Light up your home

• Lighting is something many of us take for granted. But the lighting plan we use can have a big impact on the way we feel about living and relaxing at home.
• Lighting can make all the difference between a room that feels airy and spacious, and one that seems dark and uninviting. We need to find the right blend between ambience and functionality.

Three types of lighting:

• General lighting – for overall illumination. Basic, ambient lighting is what replaces sunlight in our home.
• Task lighting – for specific tasks such as cooking, reading, hobbies and deskwork.
• Accent lighting – to create visual interest, such as picture lights, recessed lights and spotlights focusing on treasured possessions.

Room-by-room checklist

• Hallway – chandeliers or down lights are great in halls and foyers. Installed with a dimmer they can provide instant sparkle or intimacy, depending on the required mood.
• Family/lounge rooms – the lighting you choose should reflect how you use the room.
• Wall mounted lights or ceiling fixtures are good sources of general light, but for a more relaxed feel you may also want to provide alternative mood lighting in the form of recessed lighting, complemented by reading lamps and lights to the side(s) of a TV screen. Also, pairs of lamps can create an attractive symmetry in the overall design of a room.

http://goo.gl/AB1VzZ
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Top 10 tips to improve your home security

Home burglaries are a fact of life. Every year more than 20,000 homes in Australia are broken into — the majority during the day time when people are at work. That’s the bad news.

Door locks - Have key-operated two-cylinder deadlocks fitted to all external hinged doors. A quality knob-inlock set will have a ‘dead latch’ mechanism to stop burglars using a credit card to open it.
Sliding doors - A favourite point of entry for burglars! Fit key operated locks or patio bolts to all external sliding doors, such as patio/veranda doors.
Windows - An open window, visible from the street, may be the only reason that your home is chosen by a burglar. Ground floor windows are more susceptible for obvious reasons.
Warning stickers - Place highly visible stickers on or near front doors and windows, which indicate an alarm system, dog or membership of neighbourhood watch.
Light timers - Install light timers to switch on automatically if you aren’t home when it gets dark, or have gone away for a few days. The timers should mimic when you would usually switch lights on or off.
Exterior lighting - Exterior lighting is also a good deterrent, provided it is switched on and off as though someone is at home. Make sure the approach to your house, especially any entryway, is brightly lit, controlled by a light timer if necessary — this also makes it safer and more comfortable if you come home after dark.
Motion sensor lights - These are useful to install, especially at the back of a house or apartment. Infra-red motion sensor lights are also easily available and not very expensive.
Alarm systems - There are a wide variety of alarms available — you need to make sure that the one you choose has visible signage and is properly programmed, installed and maintained.
Home safes - Burglars know all the hidey holes to look for keys, valuables and important documents. The price of a good home safe is falling, so setting one up could be a good investment.
Protect your ID - It’s a good idea to take photographs around your house of all your valuables — important proof for an insurance claim if you ever need to make one. This can be kept in a safety deposit box, safe, or with a relative. Receipts for bigger ticket items are also useful to keep for the same reason.
http://goo.gl/J1mRvr
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