Out and About November 2020

Darwin Home Loan, Darwin Mortgage Broker

I am writing this from Numbulwar out on the gulf. An amazing spot, yes I went fishing and yes I caught a fish.

In the lead up to Christmas lenders are calling for last drinks on home purchases that want to settle before Christmas.

Settle before Christmas?

This year we have seen very slow loan approvals, settlements that have been drawn out due to getting payout details arranged amongst other issues.

To speed up the process there are few tips:

  • Look for the lenders with the shorter loan approval times such as Macquarie, ING, Virgin, Choice, Pepper or Firstmac
  • Talk to your broker and get all your paperwork in order before you go to market
  • For settlement look for vendors with realistic expectations
  • Discuss with your Conveyancer and Broker what a reasonable settlement date will be
  • Don't delay in providing any additional paperwork required

Rates go sub 2%

Since the November Melbourne Cup Day Reserve Bank interest rate cut, lenders are offering interest rates under 2%. An example is the AMP 2-year and 3-year Owner Occupied fixed rate of 1.97%. Variable rates have stubbornly stayed around the >2.4% at the bargain end of the market.

First Home Buyer and not purchased a home in two years

The stamp duty extensions for First Home Buyers and those who have not purchased a home in the Territory in the last two years have been extended out to mid 2021. This will allow more time for raising a deposit and is good news.

If you are wondering want the current grants and refunds are I have written up a page here: How much can I save?

$500 Cash back

Finally, more good news. We are giving a $500 cash card to any settled home loan before July 2020. So if you are considering a home loan and would like some free, no obligation advice please don't hesitate to call on 0447 499 794.

Regards

Nick

 

 

Get the right home loan at a great rate.

3.01%
Comparison Rate*
Owner Occupied
3 Year Fixed
Principle and Interest

Interest Rates

Use: Owner Occupied
Interest Rates Repayment: Principle and Interest
Interest Rate Comparison Rate Use Loan Type Repayment Product Lender
1.97% 3.01% Owner Occupied 3 Year Fixed Principle and Interest Pro Pack 3 Year Fixed Owner Occupied AMP
1.97% 3.10% Owner Occupied 2 Year Fixed Principle and Interest Pro Pack 2 Year Fixed Owner Occupied AMP
2.19% 2.78% Owner Occupied 1 Year Fixed Principle and Interest Fixed 1 Year Orange Advantage Combo <=80% $500,000 - $1,000,000 ING
2.69% 2.69% Owner Occupied Variable Principle and Interest Ultra Special $20,000 - $850,000 70% - 80% Mortgage Mart Australia
Use: Investment
Interest Rates Repayment: Interest Only
Interest Rate Comparison Rate Use Loan Type Repayment Product Lender
2.79% 2.81% Investment 3 Year Fixed Interest Only SmartSaver 3 Year Fixed Investment Interest Only Adelaide Bank

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Nick Kirlew Darwin Mortgage Broker

Arafura Finance Brokers is an Authorised Representative (No. 420372) of BLSSA Pty Ltd, ABN 69 117 651 760. Australian Credit License Number 391237.
Nicholas Kirlew is a credit representative (399996) of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237)
Find us on Facebook: Arafura Finance Brokers
Contact Nick Kirlew on 0447 499 794.
Darwin, Refinance, Home Loans, First Home Buyer, Mortgage Brokers.
2/6 Montoro Court Larrakeyah NT 0820

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