Finance – Connolly Finance

How to Prepare for the Spring Property Season

The busy Spring property season is just around the corner and you know what that means? Whether you’re planning to buy or sell, NOW is the time to start getting organised.

Here’s how:

Tips if you’re planning to BUY this Spring:

Get your finance sorted pronto!

There’s no point starting the property hunt until you know how much you can borrow. Talk to us and we’ll explain your borrowing power.

If you haven’t already done so, it’s also a good idea to get pre-approved for finance now, so that you don’t miss out on your dream home once you find it. For most lenders, pre-approvals last 3-6 months.

Do your research

Whether you’re a first home buyer or you’ve been around the block, it’s important to do your homework.

Narrow down the suburbs you’re interested in and research the market value of your desired property type
Check government websites for projects that may influence the capital growth potential
Consider the zoning and whether upcoming developments could affect supply and demand
Check out recent comparable sales on websites like realestate.com.au
Get to know local real estate agents now, so that they keep you in the loop about new listings during Spring
Ask us for a free suburb report with all the key info you’ll need.

Attend several auctions before you actually bid

Bidding at auction can be extremely daunting, particularly with the knowledge that there’s no cooling off period. You’ll want to feel confident about the process before going in guns blazing.

Over the coming weeks, make time to attend several auctions to get a feel for how they unfold. Even if you’ve bought at auction before, it’s a good idea to suss out the market in advance.

Tips if you’re planning to SELL this Spring:

Declutter

That’s right, it’s time to channel your inner Marie Kondo. You may be thinking, ‘it’s only August, I’ll have time for that later,’ but it’s important not to underestimate how long the decluttering process can take!

Decluttering can make a world of difference to prospective buyers. It allows them to see the space more clearly and imagine themselves living in your home. In simple terms, space sells.

With that in mind, ditch what you don’t need and consider putting the majority of your belongings into storage.

Clean meticulously

Time to give your home a thorough clean. You’ll want your property looking its absolute best for when the inspections begin.

If there are any repairs or maintenance jobs you’ve been putting off over the Winter, now is the time to address them.

Consider renovating

Want to drive up the sales price? Why not renovate this month and add value to your property?

Most experts recommend the top priorities when renovating for profit should be the kitchen and bathroom(s). If you need finance for these kinds of big-ticket renovations, we can help.

However, even making small cosmetic enhancements, like applying a fresh coat of paint or putting up new blinds, could result in a heftier price tag.

Sort out your finance for your next property purchase

Already found your next home? You may need bridging finance to tide you over until settlement is finalised on your old property.

So, what’s on your to-do list this month? Remember, whether you’re buying or selling this Spring, now is the time to start planning and preparing. Speak to us for all your finance needs today!

Chris Connolly
Connolly Wealth Management
Level 1, 441 South Road
Bentleigh VIC 3204
(P) 03 9591 8000
(F) 03 9530 8375
(E) chris@connollywealth.com.au
(W) www.connollywealth.com.au

Disclosure: Christopher Connolly (280099) and Connolly Wealth Management Pty Ltd (333350) are Authorised Representatives of Wealthsure Financial Services Pty Ltd AFSL 326450.

Disclaimer
The information contained in this email and its links/attachments are general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek the appropriate financial advice and read the relevant Product Disclosure Statement or other offer document prior to acquiring any financial products.

Can you refinance a car loan?

02 Jul 2019
E D
Broker, Business, Car, Car Loan, EOFY, Finance
No comment

EOFY has approached and the car sales are on. But buyers beware! It’s easy to get so caught up with grabbing a bargain, that you forget to look for a great deal on your car finance. There’s no need to run the risk of being caught out with the wrong finance choice.

We’re here to help you get fast, competitive finance for your car and other lifestyle purchases, as well as your home and property investment loans. But what if you’ve already been caught out? What if you’ve been stuck with a whopping car finance interest rate for quite a while? The good news is that you can refinance an existing car loan, with our support.

Here’s some of the benefits of talking to us about your car finance.

Lower interest rates

This is one of the most popular reasons why people want to refinance a car loan. Interest rates on car finance can vary widely depending on where you get it. For example, car dealership finance is often a one-size-fits-all package and since their activities are not regulated, they can set their rates higher than the rest of the market if they want. Similarly, there are specialist lenders you may not know about, who often offer better car finance deals than those offered by the big banks.

When someone offers you a car loan, it pays to ask us to see if you could be getting a better deal elsewhere – one that’s tailored to your personal financial circumstances and goals. Our service for a market comparison is free and if we think the deal you are being offered is a good one, we’ll tell you to take it.

More manageable repayments

If your car loan repayments are sky-high and you’re struggling to meet them, you may want to consider refinancing. By changing terms from three years to five for example, your regular repayments will reduce and become more manageable. It’s important to know this may mean you pay a bit more interest overall, but that may be better than suffering financial hardship or selling your car.

Access different features

Refinancing has the potential to get you better features on your car loan. For example, you may be interested in a loan with a redraw facility. It lets you make extra repayments to reduce the interest you pay, but still access those funds if needed. Different lenders offer different packages, so ask us to shop around and find one that’s suitable for your needs.

Finance the balloon payment

You can get a car lease or loan that gives you the option to make lower repayments and pay a balloon payment at the end of the loan term. If you need help with that, we can potentially arrange a refinance that lets you pay off the balloon payment, instead of having to come up with a lump sum.

To ensure your loan suits your current situation

Life happens and things may have changed since you originally took out your car loan. For example, you may have started your own business and you now use your vehicle primarily for business purposes. If that’s the case, we can potentially do a refinance so that you can take advantage of any tax breaks available. We’ll even work with your accountant to help you maximise any tax benefits if necessary.

Why choose us?

You can rely on us to put your interests first. We offer tailored finance solutions for both new and second-hand vehicles and have access to a large panel of lending specialists, including some you may not be able to access through other outlets. We’re also happy to check any car finance you’ve been offered, just so you can be sure you’re getting a good deal. So, don’t wait to speak to us about your car finance, call us for a chat today.

Disclosure: Christopher Connolly (280099) and Connolly Wealth Management Pty Ltd (333350) are Authorised Representatives of Wealthsure Financial Services Pty Ltd AFSL 326450.

In this article we have not taken into account any particular person’s objectives, financial situation or needs. You should, before acting on this information, consider the appropriateness of this information having regard to your personal objectives, financial situation or needs. We recommend you obtain financial advice specific to your situation before making any financial investment or insurance decision

Why your broker is your friend for life.

25 Jun 2019
E D
Broker, Business, Business owner, Finance, Finance Broker, Home Loan
No comment

How you use your income and available credit can make a huge difference to your lifestyle, so it’s very important to get it right. That means getting reliable, ongoing advice and support from a professional credit adviser you know and trust.

Your mortgage and finance broker can help you with all your big purchases, throughout every stage of your life – from your first home, to an investment property, or even a new car or funding for your small business. Here are some of the benefits of maintaining a long-term relationship with your broker.

Deal with one person who understands you.

When you first meet with us, we take the time to understand your personal financial situation and your goals for the future. That not only means we work with you to help you make a good decision about a loan for what you need right now. It also means we work with you to ensure the decision you make is a good one for your financial future.

Whenever you need to make a big purchase or an important decision about a loan moving forward, your broker will be ready to help. We’ll keep all your paperwork on file and ensure we understand your goals, and that will save you a lot of time and hassle.

By contrast, when you go direct to a bank to get that first loan, they are only concerned about that one loan – not with what happens next. So, every time you need assistance with a new loan, you’re forced to start the whole process from scratch with someone new – which can be very frustrating and time consuming.

Maximise your income and available credit.

If you don’t have the benefit of advice from a trusted professional, how do you know you’re using your income and borrowing power to its full advantage? The last thing you want to do is waste money or miss out on opportunities to secure the home and lifestyle you really want for you and your family.

A long-term relationship with your broker gives you support to maximise your income and improve your financial situation as you progress through your life stages. This knowledge and positive support will help you to achieve the lifestyle you want and make realistic plans to use your income and borrowing power wisely to support your lifestyle in the future.

We’ll even work together with your financial planner, accountant or other professional advisors to help you achieve your financial goals and we won’t charge you for our time.

Support to achieve financial independence.

Banks tend to be strictly transactional. They just provide the service you ask for and you usually only hear from them again when they’ve got another product they want to sell.

By contrast, your broker is here to protect your interests. You can expect to hear from us regularly with any important information that is relevant to you, when the opportunity arises to save money, or to support you in taking the next step in your wealth building journey.

Manage your loans and stay on top of your financial situation.

As you progress through the different stages of your life, your financial situation will change. A common example is when you and your partner have a child and your income temporarily reduces from two salaries to one.

We will always be on hand to help you manage life stage changes and issues. A bank will not necessarily support you personally, which can be worrisome.

Call us for a chat today.

If you’re looking to buy your first home, purchase your next one, invest in property or refinance your home loan just let us know. We can even help with competitive car loans if you want to take advantage of the fantastic EOFY car sales that are on right now. We love helping you with your lifestyle purchases, as well as achieve your home ownership and wealth building goals, so please get in touch today.

Chris Connolly
Connolly Wealth Management
Level 1, 441 South Road
Bentleigh VIC 3204
(P) 03 9591 8000
(F) 03 9530 8375
(E) chris@connollywealth.com.au
(W) www.connollywealth.com.au

Disclosure: Christopher Connolly (280099) and Connolly Wealth Management Pty Ltd (333350) are Authorised Representatives of Wealthsure Financial Services Pty Ltd AFSL 326450.