Debt Advice and Structuring
Providing debt advice and global private banking solutions.
We Provide Advice, not a simple Comparison
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Keep your costs down through Ongoing Review
Arranging a loan is not a set and forget exercise. Interest rates move, as do your life. It is critical that your loans and facility features are reviewed very 12 to 24 months.
Most people don’t do this, and because of that are paying an average of 4.54% on their home loan, rather than 3.65%, which on a $1m loan over 30 years, will cost them an additional $185,779.
Source: RBA, The Distribution of Mortgage Rates, March 2018, adjusted for July interest rate rises on principle and interest loans.
Contact Us Today for Debt Advice
In less than 10 minutes you can complete our online debt financial questionnaire. With this we can provide advice and products options specifically tailored to you.
Credit Assistance is what an online loan comparison website or mortgage broker does. They record your debt needs and then assist you to select from a number of debt products that may meet your needs. Most credit assistance providers, will help you select from products issued by one of 30 Australian banks or credit unions. In some rare cases, like Cashel House, they have access to more local and international lenders.
Financial Advice is when you document a clients objectives, and then assess the impacts of any changes and decisions regarding investment selection or debt products on ownership structuring, tax planning, asset security and what impact may be caused to current and future cash flows, including retirement cash flows.
When you engage Cashel House to provide you with debt advice and structuring we do both or these things. We are not another mortgage broker or simple online comparison website (but we have the skills and access to the same and more products).
Each families circumstances are unique, so should their debt solution. Please following the Home Loan Quote link to obtain a home loan quote. Please note that this is a standard calculator and that we specialise in customising loans for each circumstances.
Our guides to loan types and features will help you learn about the main options available. There are hundreds of different home loans available, so talk to us today.
Usually between 5% – 30% of the value of a property, which you pay when signing a Contract of Sale. Speak with us to discuss your options for a deposit. You may be able to borrow against the equity in your existing home or an investment property.
Go to our Repayment Calculator for an estimate. As there so many different loan products, some with lower introductory rates, talk to us today about the deals currently available, we’ll find the right loan set-up for you.
Most lenders offer flexible repayment options to suit your pay cycle. Aim for weekly or fortnightly repayments, instead of monthly, as you will make more payments in a year, which will shave dollars and time off your loan.
While the Australian market has certainly reduced in funding appetite for foreign buyers there is still options. Cashel House utilises it’s expertise in both Australian and Singapore to arrange funding. Your Cashel House advisor will assist you navigate this option.
There are a number of fees involved when buying a property. To avoid any surprises, the list below sets out all of the usual costs:
- Stamp Duty— Stamp duty rates vary between state and territory governments and also depend on the value of the property you buy. You may also have to pay stamp duty on the mortgage itself. To find out your total Stamp Duty charge, visit the state revenue office for the applicable state.
- Legal/Conveyancing fees— Generally around $1,000 – $1,500, these fees cover all the legal rigour around your property purchase, including title searches.
- Building Inspection— This should be carried out by a qualified expert, such as a structural engineer, before you purchase the property. Your Contract of Sale should be subject to the building inspection, so if there are any structural problems you have the option to withdraw from the purchase without any significant financial penalties. A building inspection and report can cost up to $1,000, depending on the size of the property. Your conveyancer will usually arrange this inspection and you will usually pay for it as part of their total invoice at settlement (in addition to the conveyancing fees).
- Pest Inspection— Also to be carried out before purchase to ensure the property is free of problems, such as white ants. Your Contract of Sale should be subject to the pest inspection, so if any unwanted crawlies are found you may have the option to withdraw from the purchase without any significant financial penalties. Allow up to $500 depending on the size of the property. Your real estate agent or conveyancer may arrange this inspection and you will usually pay for it as part of their total invoice at settlement (in addition to the conveyancing fees).
- Lender Costs— Most lenders charge establishment fees to help cover the costs of their own valuation as well as administration fees. We will let you know what your lender charges but allow about $600 to $800.
- Moving Costs— Don’t forget to factor in the cost of a removalist if you plan on using one.
- Mortgage Insurance Costs— If you borrow more than 80% of the purchase price of the property, you’ll also need to pay Lender Mortgage Insurance. You may also choose to take out Mortgage Protection Insurance. If you buy a strata title, regular strata fees are payable.
- Ongoing Costs— You will need to include council and water rates along with regular loan repayments. It is important to also take out Building Insurance and Contents Insurance. Your lender will probably require a minimum sum insured for the building to cover the loan, but make sure you actually take out enough building insurance to cover what it would cost if you had to rebuild. Likewise, make sure you have enough contents cover should you need to replace everything if the worst happens.
Asset Ownership and structuring is a critical aspect of buying property. The wrong decision will increase tax liabilities, limit access to borrowing or pose potential risk of loss of assets to creditors should the property be owned by the wrong legal entity, Your Cashel House Financial Advisor working with your Cashel House Credit Advisor will assist with advising on the appropriate structure for you.
Before you buy a home, you should be aware of a range of issues that may affect that property and impose restrictions or obligations on you, if you buy it. The Due Diligence checklist aims to help you identify whether any of these issues will affect you. The questions are a starting point only and you may need to seek professional advice to answer some of them. You can find links to organisations and web pages that can help you learn more, by visiting consumer.vic.gov.au/duediligencechecklist
Contact a Cashel Adviser for more information