News & Articles — Page 4 of 15 — Aqua Wealth
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News & Articles

Some home loan approvals can be processed in days, others take weeks. Why the delay? Don’t be tempted to blame your mortgage broker because rarely they are the ones causing the hold-up. Usually it is either a delay by the lender or incomplete client paperwork that causes the blowout. Some lenders fund loans faster than others, and an increase in the number of loans can slow down a lender's usual processing time. The time of year also has a part to play – expect delays the closer you get to Christmas, as well as around Easter and the end of the financial year. You can help move along the mortgage approval process by pulling together the necessary documents before you apply for a loan. Missing documents and inconsistent information on the paperwork are common reasons for delays. The more complex the loan, the longer...

Scientists and futurists are often asked to predict what life will be like in 2020. Now that this milestone year is not far away, let’s take a look at some of the predictions that supposedly await us just around the corner. Domestic Bliss No more cleaning, dusting or ironing, these tasks will be done by domestic robots. Androids are predicted to be the must-have item of the 2020s and people will be able to purchase them through Amazon-type vendors and customise them according to their needs. Cure for Cancer Cancer immunology is seen as a breakthrough in cancer research that will radically change the way cancer is treated. Rather than killing cancer cells directly with chemo or radiotherapy, treatments will promote the body’s natural immune control over the disease. Hands free texting Phones will provide the option of texting based solely on thought power. Eye-tracking technology...

Styling your home for sale is not a new concept but it has grown in popularity as anecdotal evidence suggests it can help your property sell faster and for a better price. Displaying a property’s full potential with property styling (also known as property staging) can be as simple as removing or adding a few decorative pieces or as extensive as refurnishing the entire home. Here’s 5 reasons why many real estate agents recommend it. Makes a great first impression It’s often said that a buyer makes a decision about whether they like a property in the first 30 seconds, so property styling can create this ‘wow’ factor. Introducing the right combination of colours and textures, furniture, art and soft furnishings can bring out the best in a property, making small rooms appear more spacious and cold spaces feel warm.       2. Brings...

The importance of a knowledgeable mortgage broker has come sharply into focus following the recent banking system changes to investment lending. Many panicked borrowers have turned to mortgage brokers like us, for guidance in the months since the Australian Prudential Regulatory Authority (APRA) directed the major banks to place limits on investment lending and hold more funds in capital reserves. With each bank responding individually to the directive, the changes in policy and pricing have varied wildly from one lender to the next. There has been confusion among borrowers and concern about how current and future investment lending is affected. Do the APRA changes affect you? If you fall into any of the below categories, you may well be affected by some of the changes. First time investor who had planned on getting into the market with a high loan to value ratio using mortgage...

More Australians are looking to take out loans to purchase property, a trend that began well before the traditional influx of borrowers for the start of spring. Mortgage applications have been rising steadily for 12 months and peaked at 12.5 per cent in the June quarter, according to the latest Veda Quarterly Consumer Credit Demand Index. New South Wales and the ACT experienced the largest growth in mortgage applications at 21 per cent and 19.5 per cent respectively. This was followed by Victoria at 13.3 per cent, Queensland at 11.7 per cent and South Australia at 8.1 per cent. The two interest rate cuts by the Reserve Bank in the June quarter are believed to be behind the strong mortgage pickup. Some of the growth can also be explained by consumers switching between providers as the low interest rate environment has encouraged many...

Australians rank moving house second only to divorce and bereavement on the scale of life crises. Broken and misplaced possessions, incompetent removalists, chaos and exhaustion are a few of the negative images we have come to associate with moving house. Fortunately most of these nightmares can be avoided by anticipating problems and becoming organised well before moving day. The first step is deciding how you prefer to approach the job of packing and moving your possessions. If you decide to economise and do the move yourself, check what your home contents insurance covers you for. For bulky or fragile items your safest option is usually to hire a removalist but make sure the organisation you choose is a member of the Australian Furniture Removalists Association (AFRA). The AFRA Code of Conduct ensures members provide paperwork for quotations, insurance, contracts and inventories. The contract should clearly...

It’s not as easy as it once was to apply for an interest-only loan. Over the last couple of months lending for this type of investment loan has been tightened in an effort to slow the pace of record growth in investment home loans. Lenders are under pressure by government regulatory bodies to make it less attractive to take out interest-only loans, a strategy which is hoped will protect investors and achieve sustainable growth in the home loan market. Lenders have responded to the crack-down in different ways. Some now ask for larger deposits for investor loans or have scrapped discounts they previously offered. Others have begun to price loans with principal and interest repayments cheaper than interest only loans. Still others now offer better discounts on owner occupied loans or allow investors to borrow less than owner occupiers. Which way to turn? As these...

If you’re running a small business, now is the time to think big. The Federal Government’s focus on small business in the May budget was designed to encourage small business growth through tax cuts as well as measures to reduce red tape, promote more start-ups and hire more employees. Many business owners will be taking advantage of the opportunity to receive an immediate tax deduction on every asset they purchase valued up to $20,000. Cars, utes, tables, chairs, printers, photocopiers, tools, TVs, sound and security systems, computers, tablets and smartphones are just some of the assets that can be deducted until the end of June 2017. Short on capital? Try Leasing While these tax deductions are great news for many small businesses, what about those who don’t have the capital available to purchase assets? If you are a small business in this situation, leasing may...

Mortgage brokers are now responsible for writing over half of Australia’s home loans and are valued for their choice, expertise and convenience, according to a new survey commissioned by the Mortgage and Finance Association of Australia (MFAA). From a 49.9 per cent share of the market in the March 2014 quarter, total new home lending to mortgage brokers increased to 51.9 per cent in the March 2015 quarter. Over this time there was a $44.2 billion increase in mortgage lending across Australia and brokers were responsible for 71 per cent of this increase, Australian Bureau of Statistics data reveals. Brokers were also found to be proficient at matching the product to the customer’s needs. In fact 30.2 per cent of broker initiated home loans went to smaller lenders, demonstrating that brokers offer consumers real choice and have access to a wider range of mortgage...

Women aged over 45 are nearly twice as likely to be disabled from sickness as men, new research has shown. Produced by the Financial Services Council (FSC) and KPMG Australia, the research looked at the likelihood of disability insurance claims across a range of client demographics. In particular, the report found that 45 year old females are 94% more likely to make a claim due to sickness than their male counterparts, but 22% less likely to make a claim due to accident than males in white collar occupations. Other key findings from the research include: A person who has held a policy for 10 years or more is 50% more likely to make a claim than a person who has held a policy for less than 1 year Male white collar smokers are 50% more likely to claim due to sickness than male white...