Mortgage Broker and Cash Flow Strategist
- Specialising in Established Residential Investment & Home Loans
Which Lender and Product is in Your Best Interests?
Having a father who was an institutionalised Bank Manager for all of my childhood, I was interested in finance but not in a corporate sense. Instead I became a Mortgage Broker back in October 2005 and created my business Simplify Your Mortgage Pty Ltd in March 2006.
The main reason behind forming the company was to enlighten and empower my clients to overcome, what I feel, is an unfair advantage in the Mortgage Industry.
That being because Banks have created systems that generate massive profits (in the Billions) for Shareholders and CEO’s. The most profitable system created by the Banks is a Residential Mortgage, commonly known as a Residential Home Loan.
Although I work closely with these Banks and products, my goals are clear:
1. To provide you with a fully featured loan product that is simple to understand, easy to use for today and offers flexibility into your future.
2. Empower you with a system that has your money working in your favour, NOT the Bank’s, from day one.
3. Give you a first class service before, during and after settlement that is unmatched by any Bank.
I only work with people who want to be in control of their financial future and are dedicated to their own success. I do NOT sell Credit Cards or junk Mortgage Insurance products, instead I specialise in Investment and Home Loans secured against Residential Property.
By providing this type of specialised service to my clients, encourages your referrals of friends, family and co-workers that forms the foundation of my business.
Top 3 Most Common Loan Products
Basic Loan with Free Redraw, an Offset Loan (sometimes called a Package Loan) and a Fixed Rate Loan (opposite to a Variable Rate Loan).
Basic Loan
A Basic Loan typically comes with a low Interest Rate and has $0 ongoing fees (No Monthly or Annual Fee).
BENEFITS:
'Most' Basic Loans have free Redraw Facility that allows you to access extra repayments that you've made in addition to the required minimum repayments (you can redraw the extra repayments you have made).
Additional repayments paid that remain (not redrawn) in the Loan Account will save interest on a daily basis, reducing your total interest payable over the loan term.
RISKS:
Lender may charge fees for each redraw.
WARNING: Within a Loan Agreement Terms & Conditions, a Loan product that allows Redraw 'may' be subject to the lender's discretion because the funds are being held in a debt facility (a Loan Account). Lenders in the past have removed their customers available funds for Redraw all together, or requested a full loan application before releasing the funds.
Offset Loan
An Offset Loan Links one or multiple Savings Accounts to your Loan Account.
BENEFITS:
Every dollar in your Offset Account/s reduces the monthly loan interest you pay, saving bank interest on a daily basis.
You will only pay interest on the difference between the amount owing under your linked loan account, and the amount in your offset account/s.
Potentially allows you to pay off your loan sooner.
Easy access to the funds if attached to a Debit Card.
Tax planning. If you have received advice from a tax agent, regarding Loan Tax Deductibility and having an Offset Account (note that we are not providing advice in this respect). Using an Offset Account may be beneficial.
Eliminates the risks associated with a Basic Loan Redraw facility because accessing your Offset Account is NOT at the lenders discretion.
If you use your Offset Account exclusively as your Loan Repayment Account, you will easily see the benefits of the reducing interest charges.
If your Offset Account is your Loan Repayment Direct Debit Account (makes the loan repayments), you can change your Loan Repayment frequency into the Offset Account whenever you like without paperwork or potential fees.
RISKS:
Feature may not be available when the loan is on a fixed rate, or it may only be a partial interest rate offset (e.g. 10% Offset instead of 100% Offset).
Ongoing monthly or annual fees may apply.
Your loan account might attract a higher interest rate compared to a Basic Loan.
If your Offset Account does not go up every month and/or you always make sure you maintain a set amount in your Offset and spend the rest, the benefits received will be minimal and if you pay an ongoing fee or being charged a higher interest rate for the feature, you potentially will be paying more loan interest over the loan term.
Having 'easy access' to the funds in your Offset Account through a Debit Card could be detrimental in your ability to save loan interest.
If you deposit all of your wages into your Offset Account and spend money directly from your Offset, may make it difficult for you to budget and/or make it hard to understand how much you are actually saving (reducing debt) at any given time.
Fixed Rate Loan
The rate is fixed for a certain time period and cannot be varied.
BENEFITS:
A fixed rate may be important to you if you wish to avoid the risk of rates increasing during the fixed rate period.
Rate is fixed for a specified term giving certainty of interest and repayments for that term.
Even if the Variable Rate reduces during your Fixed Rate Term, your interest rate may remain lower.
RISKS:
Lose all benefits from subsequent market interest rate reduction during fixed rate period.
If a Fixed Rate Lock fee has not been paid your rate at approval may vary at settlement.
Limited or no ability to make additional repayments when the interest rate is fixed.
May not have the ability to redraw or utilise an offset account to reduce interest.
Expensive break costs during the fixed interest rate period if you repay the loan in full by way of sale or refinance, make additional repayments, vary the loan by switching product or accessing equity (loan increase).
Inability to access capital growth (equity) without incurring break costs that may result in a lost opportunity.
Business References
When you deliver a high quality loan application to a Lender, their Credit Assessors will look favourably on the proposed scenario. This has resulted in a 97% + success rate, from submission to approval.
Frequently Asked Questions
Coming soon...
Answer 1
Answer 2
Answer 3
Contact Us
Address
Parkerville WA 6081, Australia
ABN
85260480255
Operating Hours
Although I am based in Parkerville, Perth WA, I can service clients who live in regional suburbs or even interstate because most, if not all of our communication will be done via email and phone.
All clients have been referred from existing clients, therefore you should have my direct email address and mobile number.
I do not answer unknown numbers, so if you call, please leave a message and I will call you back, or send me a text message first with your name and your referrers name and I will add you to my phonebook list, which means I will answer your call if available.
I typically answer phone calls from Monday to Sunday 9am to 7pm and am available via email at all hours.
I look forward to hearing from you soon...
Thank you.
Nathan
Simplify Your Mortgage Pty Ltd
Australian Credit License Number: 387974
Additional Information... coming soon...