In this September edition, we’re thrilled to highlight a recent client success story, along with property tips specifically crafted to meet your clients' unique needs. Stay ahead with expert insights that empower you and your clients to make informed financial decisions all year long!
Client case study of the month
Beau and Kobe came to us for help with their first home purchase after facing challenges with their mum's mortgage broker. Initially, we weren’t looking to take business from other brokers, but after assessing their situation, we found that they could borrow $100k more than their current pre-approval due to our deep knowledge of the lender.
The plan was for their mum to gift $100k to help with the purchase, but a miscalculation from her broker meant that the funds were not available. With the deposit already paid and contracts exchanged, they risked losing their deposit.
As solution providers, we pivoted quickly, securing a 100% loan using a family guarantee, moving to a new lender, and even getting their rate matched—all within a week to meet settlement.
Join us for an exclusive MY Professional Power Hour!
Join us for another MY Professional Power Hour in October, where we'll dive into the latest industry insights and foster new business connections. Don't forget, our Microsoft Teams Channel is available for you to chat, share ideas, and invite each other to upcoming events—stay connected and make the most of your network!
Event Details:
Theme: Client Case Studies
Bring a client case study to showcase what you do for your clients. For example, if you are a tech expert who installs software, put it in a case study. We will go around the room and compare what we do, as we get to know each other better!
Date: Wednesday, 16th October
Time: 7:30 am (60 minutes long)
Location: My Finance Agent Sydney - U2 56 O'Riordan Street, Alexandria, NSW 2015
Market insights for your clients
1 in 3 first home buyers using Home Guarantee Scheme
In FY2023-24, one in three first-home buyers used the Australian government's Home Guarantee Scheme. The scheme helped 43,800 buyers, particularly benefiting key workers and regional Australians, with 88% of the available spots filled. Brokers played a significant role, with 78% of participants using brokers for their applications.
The State of the Housing Market: A Deep Dive into the September Quarter Trends
In the September quarter of 2024, housing supply remains tight, with prices rising again due to limited stock. Investor interest is shifting towards apartments as detached housing becomes less affordable, and only a small percentage of Australians are facing mortgage stress as fixed rates end. Market sentiment remains positive, with the majority of Australians expecting property prices to rise in the coming year.
The countdown is on: Here’s how investors should prepare for interest rate cuts
Property investors should prepare for potential interest rate cuts in late 2024 or early 2025. Investors should focus on high-quality, investment-grade properties in prime locations, monitor their cash flow, and consider holding off on refinancing to maximize benefits from the expected rate changes.
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