Home loans – Timeup Soft http://timeupsoft.com/ Sat, 27 Nov 2021 19:06:59 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://timeupsoft.com/wp-content/uploads/2021/10/icon-12-160x160.png Home loans – Timeup Soft http://timeupsoft.com/ 32 32 Why It’s Time to Rename Not-So-“Special” Banks Home Loans https://timeupsoft.com/why-its-time-to-rename-not-so-special-banks-home-loans/ Fri, 26 Nov 2021 16:00:00 +0000 https://timeupsoft.com/why-its-time-to-rename-not-so-special-banks-home-loans/ Kavinda Herath / Tips “Special” mortgage rates are misnamed. They are nothing special. OPINION: How did we ever allow banks to call their standard home loans “special” and their special higher interest rate home loans “standard”? The answer is, we don’t really pay attention to it because the marketing managers of the banks were working […]]]>
“Special” mortgage rates are misnamed.  They are nothing special.

Kavinda Herath / Tips

“Special” mortgage rates are misnamed. They are nothing special.

OPINION: How did we ever allow banks to call their standard home loans “special” and their special higher interest rate home loans “standard”?

The answer is, we don’t really pay attention to it because the marketing managers of the banks were working with their distorting magic on the English language.

In banking terms, a “special” home loan is given to someone who has more than 20% of the equity in their home. These people are entitled to the lowest mortgage interest rates.

A “standard” home loan is for people whose net worth is less than 20%. They pay more for their loans, about a fifth more.

READ MORE:
* Homeowners underestimate the magnitude of the upcoming mortgage rate hike
* HSBC NZ joins Heartland with ‘special’ fixed mortgage rate of 1.99%
* Coronavirus: Covid-19 words added to Oxford dictionary

Most people with home loans qualify for “special” home loan rates, either because they have had their home for a while or because they managed to get together a 20% down payment (thank you bank mom and dad).

Bank statements (which banks must publish so the public knows what they are doing) make this clear.

Finance and Expenses Committee / Facebook

Reserve Bank Governor Adrian Orr expressed concern in August about the situation recent homebuyers might find themselves in, and since then prices have risen rather than fallen.

Westpac’s “special” rate, charged to people with at least 20% share capital (who also have their salary paid into a Westpac account) is 3.65% for a fixed-rate loan of one. year.

On the other hand, its “standard” rate is 4.25%.

But it’s the reverse world of English transformed by marketing, and only a tiny fraction of Westpac customers pay the “standard” rate.

Of the $ 58 billion in home loans drawn on its group balance sheet at the end of March, just over $ 5 billion had home equity of 20% or less.

It’s the same pattern at ANZ, where just under $ 6 billion out of $ 106 billion in home loans were for loans where the borrower had less than 20% equity at the end of September.

Now the definition of special is something that is “neither ordinary nor usual”.

According to this definition, which is good enough for the Oxford English Dictionary, there is nothing special about “special” mortgage rates from banks.

While this is an abuse of the English language, it is not a violation of the Fair Trading Act, nor is this advertisement currently circulating on a frozen ready meals line that includes the line ridiculous: “Fresh from the freezer”.

Not-so-special “special” prices are everywhere.

Thing

Not-so-special “special” prices are everywhere.

It’s a world in which there is a “special” price for my usual coffee.

My coffee is on “special” every two weeks or so at my local supermarket. That’s when I buy it. I guess other buyers are doing the same. Why would they pay $ 2 more for the bag when it’s not on “special”. This means that the “special” price is the usual price, and therefore not at all special.

The “special” language shift in mortgage lending came after the global financial crisis more than a decade ago.

Banks charged people with small deposits a premium or “low net worth” fee and, in most cases, paid the same, or very similar, interest rate to other borrowers.

This changed as banks were required to hold more capital against riskier loans. Competition for high capital loans has led banks to reduce their rates on the most attractive loans in an attempt to secure more.

At the beginning of the “special” loan rates, they seemed really special and deserved to be highlighted.

But those days are now over and it is time to get back to the original meaning of special, especially as bank after bank lending is limited to people with small deposits.

Special is also a better word for higher interest, low deposit home loans, and their borrowers, for another reason.

In these days of ridiculously high home prices, you have to be special just to get a home loan.

Special in that you have a large income, a large inheritance, or rich relatives, that is.

GOLDEN RULES:

  • Don’t let banking language fool you
  • Home ownership remains the basis of household wealth
  • Every hard-working Kiwi should be able to buy a house


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Associates Home Loans Explains How Fintech Changed the Mortgage Industry https://timeupsoft.com/associates-home-loans-explains-how-fintech-changed-the-mortgage-industry/ Wed, 24 Nov 2021 08:31:47 +0000 https://timeupsoft.com/associates-home-loans-explains-how-fintech-changed-the-mortgage-industry/ by Analytics Insight November 24, 2021 Fintech innovation around digital payments reduces costs and widens access for individuals. Have you ever heard of fintech? Maybe not, but many people are familiar with companies like Lending Club and SoFi, two of the top performing fintech financial services. On their own, these two companies have made it […]]]>

by Analytics Insight
November 24, 2021

Fintech innovation around digital payments reduces costs and widens access for individuals.

Have you ever heard of fintech?

Maybe not, but many people are familiar with companies like Lending Club and SoFi, two of the top performing fintech financial services.

On their own, these two companies have made it possible to lower the barrier to entry for obtaining a mortgage by up to 50%. How? ‘Or’ What? By making the process more transparent and giving consumers access to multiple offers at the same time.

This article will discuss how Fintech has changed the mortgage industry.

# 1 Fintech made it easier for people to find the best loan rates and terms

One of the biggest issues people face when applying for a mortgage is how much they qualify for, let alone which banks offer what rates.

What fintech has done (and continues to do) is empowered people to shopping for mortgages by accessing several offers at the same time.

It also makes it easier for people to see what amount they qualify for by organizing the mortgage process into a series of simple questions.

# 2 this increased competition drives down prices and makes mortgages more accessible to everyone

Just as important as knowing what you are entitled to is knowing where the banks are offering their best rates. Fintech has made this possible by allowing people everywhere to compete for each other’s businesses.

This increased competition has meant that banks are not only competing with the local bank, but with lenders across the country and around the world.

And while some argue that this is unfair to local banks, it can also be argued that it is a good thing as it creates competition and drives prices down.

In addition, even those who are self-employed or who have filed for bankruptcy in the past can now qualify and obtain a mortgage loan thanks to loans for self-employed workers and home loans for bad credit.

# 3 Fintech companies are also innovating in other ways by bringing to market new products such as Home Equity Lines of Credit (HELOC) or reverse mortgages, which were not previously available.

Even though fintech has been successful in offering affordable prices to consumers, there are still a number of products that are difficult to access for people without the required credit or documentation.

But fintech has gained ground in new areas, like giving consumers better access to home equity lines of credit (HELOC) and reverse mortgages.

Indeed, both of these loan options have been largely banking products, meaning that they are only available to those who already have good credit or substantial assets.

# 4 Successful startups that have made waves in this space

Some of the most successful startups in the industry include Lending Club, OnDeck capital, and SoFi.

Lending Club was one of the first companies to give consumers access to multiple lenders at once, giving them a competitive edge from the start.

Unlike fintech startups that lend money directly to consumers, OnDeck Capital lends money specifically to small businesses.

SoFi was originally created as a social network for graduate students, but has created mortgages and other types of loans for graduates looking to buy a home.

While Lending Club and OnDeck Capital remain successful businesses today, SoFi has since grown into a traditional banking institution following its IPO in 2015.

Conclusion

Overall, Fintech has had a big impact on the mortgage industry by increasing competition among lenders and giving consumers access to more information about the products available.

Going forward, fintech companies will continue to innovate and create new products that benefit consumers and the financial industry as a whole.

Fintech has even opened up opportunities for entrepreneurs to create new businesses around this industry.

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Analytics Insight is an influential platform dedicated to insights, trends and opinions from the world of data-driven technologies. It monitors the developments, recognition and achievements of artificial intelligence, big data and analytics companies around the world.

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Home loans: A significant percentage of borrowers prefer the online mode to secure their loan: Survey https://timeupsoft.com/home-loans-a-significant-percentage-of-borrowers-prefer-the-online-mode-to-secure-their-loan-survey/ Tue, 16 Nov 2021 10:09:00 +0000 https://timeupsoft.com/home-loans-a-significant-percentage-of-borrowers-prefer-the-online-mode-to-secure-their-loan-survey/ A significant percentage of millennial-led borrowers prefer the online mode to obtain loans over traditional offline channels, indicating an increase in digital penetration during the COVID-19 period, according to a survey. After the second wave of the COVID-19 pandemic, shows a largely positive trend in consumer borrowing and, therefore, reflects a return to normal as […]]]>
A significant percentage of millennial-led borrowers prefer the online mode to obtain loans over traditional offline channels, indicating an increase in digital penetration during the COVID-19 period, according to a survey.

After the second wave of the COVID-19 pandemic, shows a largely positive trend in consumer borrowing and, therefore, reflects a return to normal as consumer sentiments are positive and dynamic about the economic recovery, according to one annual “How India Borrows” (HIB) survey conducted by financial firm Home Credit India.

Almost 40% of borrowers have expressed their willingness to switch to digital platforms to take out loans. This is in addition to the 15% of customers who have already opted for online lending instead of traditional offline channels.

While technology has been a key enabler, survey results reveal that, like all digital trends, chatbot familiarity and trust is governed by age – with younger customers in the lead.

The HIB study was conducted in 9 cities including Delhi, Jaipur, Bangalore, Hyderabad, Bhopal, Mumbai, Kolkata, Patna and Ranchi. The main sample size was over 1,200 respondents (Home Credit clients) in the 21-45 age group, with an income of less than Rs 30,000 per month.

There was a sharp decline in borrowing for household current expenditure to 4% in 2021, or 85% last year, showing a shift from need-based borrowing to desire-based borrowing due to the recovery of the economy, says the investigation report.

There was a notable increase in borrowing for business creation or expansion accounting for 28%, followed by small loans or credits for the purchase of durable consumer goods to 26% of total borrowing. he declares.

Other positive reasons were home renovation / new construction (13%), medical emergencies (2%), car loan (9%), marriage (3%), education loan (2 %), investments and return from a previous loan, etc. (1 percent).

The survey identified a more than 50 percent increase in borrowing in 2020, however, borrowing to manage households declined, he said.

The pandemic has also led to the acceleration of digitization, as a growing number of borrowers show a preference for adopting an online lending pathway for future borrowing, thus boosting digital empowerment in financial services. , although the penetration of financial literacy is still ongoing, Home Credit India, Marketing Director Vivek Kumar Sinha said.

With many people experiencing job losses, pay cuts, this has resulted in an increased need for consumers to relaunch businesses this year.

At the regional level, survey results indicate that Bengaluru and Hyderabad have recovered more quickly from the pandemic, with 41% of respondents in Hyderabad having taken out loans for business revival and 42% of respondents in Bengaluru for purchases of durable consumer goods.

While states like Bihar and Jharkhand have the lowest internet population at 24% and 29% respectively, digital literacy in terms of cell phone use in Patna and Ranchi has been recorded at 64% and 65%. respectively, he said.


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Kiwibank will no longer accept pre-approved home loans for buyers with deposits below 20% https://timeupsoft.com/kiwibank-will-no-longer-accept-pre-approved-home-loans-for-buyers-with-deposits-below-20/ Tue, 16 Nov 2021 07:40:43 +0000 https://timeupsoft.com/kiwibank-will-no-longer-accept-pre-approved-home-loans-for-buyers-with-deposits-below-20/ A first-time homebuyer, who asked to remain anonymous, is devastated after finding out that Kiwibank would not approve his mortgage application. “I am really, really disappointed,” he told Newshub. He and his family have been desperately trying to climb the property ladder for a year. “I didn’t expect the rug to be ripped from under […]]]>

A first-time homebuyer, who asked to remain anonymous, is devastated after finding out that Kiwibank would not approve his mortgage application.

“I am really, really disappointed,” he told Newshub.

He and his family have been desperately trying to climb the property ladder for a year.

“I didn’t expect the rug to be ripped from under my feet.”

He is one of many hopeful buyers who may now have nowhere to go for a home loan.

“It destroys the dream of many first-time homebuyers – especially those who scrimp and save to get those 10% or 15% deposits. At the moment, that squeezes them out of the market altogether,” said Grant Patten, consultant. LoanMarket mortgages.

“It has an impact on the people that the government and the Reserve Bank have openly said are trying to help.”

In a statement, Kiwibank told Newshub she was empathetic with first-time homebuyers, but limited by the Reserve Bank. The regulator has reduced the number of risky loans banks are allowed to give to homebuyers with smaller deposits to just 10 percent of their loans.

Kiwibank is already close to this limit and is probably not the only bank.

“They’ve already cut a lot of their loans as is, other than the live deals, so I would expect that to happen more over the weeks,” Patten said.


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How Splitting Your Mortgage May Lengthen Your Repayments https://timeupsoft.com/how-splitting-your-mortgage-may-lengthen-your-repayments/ Fri, 12 Nov 2021 18:00:00 +0000 https://timeupsoft.com/how-splitting-your-mortgage-may-lengthen-your-repayments/ But she liked the flexibility of being able to keep part of her loan as a variable, and the security of knowing that much of it will stay at the same rate while retaining convenient features, like a compensatory account. A compensatory account is a transaction account linked to a mortgage that allows deposits and […]]]>

But she liked the flexibility of being able to keep part of her loan as a variable, and the security of knowing that much of it will stay at the same rate while retaining convenient features, like a compensatory account.

A compensatory account is a transaction account linked to a mortgage that allows deposits and withdrawals while reducing the amount of interest charged on the mortgage.

It is also possible to make additional payments without penalty and use a withdrawal function to withdraw additional payments.

Lim, who has two sons, Ethan, 16, and Bryan, 14, adds, “I always have money in the account for other purposes when needed.

Variable rates are expected to continue falling as competition for new business remains fierce and lenders have not passed on all of the recent spot rate cuts.

After the RBA cuts of March 19 and November 3, 2020, the majority of banks did not pass anything on to their variable customers.

Meanwhile, fixed rates continue to rise in response to the RBA saying it was abandoning its policy of controlling the yield curve but keeping the spot rate at an all-time high of 0.1%.

Check the fine print

Borrowers should check the fine print of a loan.

A split loan means having two loans – variable and fixed – which could mean paying fees on two loans instead of one, depending on the lender you choose.

A borrower deciding to change loans or providers during the term could also face high breakage fees.

This means that it would not be suitable for a borrower who sells their home before the fixed rate ends.

Phoebe Blamey, director of Clover Financial Solutions, a mortgage broker, says she encourages her clients to hedge their bets against future rate hikes by dividing their fixed rate mortgages, typically 70% fixed and the rest variable. .

“This creates flexibility for any changes in the lifestyle of borrowers, such as a couple with children,” says Blamey.

For the first time in more than two years, the average of the lowest floating rates of the Big Four banks is now lower than the three-year average fixed rate for homeowners paying principal and interest, according to RateCity analysis, who monitors interest rates.

Sally Tindall, Research Director, says: “Over the past year, variable rates have been largely spared by the Big Four banks as they focused on reducing fixed rates. But with a record number of owners now fixed, banks have set their sights on a variable clientele. “

Tindall cautions that lenders have discretion over variable rates.

“Although the Reserve Bank of Australia has insisted that the liquidity rate will not increase next year, banks can always raise these variable rates to the lowest at any time,” she said. declared.

Mortgage brokers claim that many borrowers who ask for fixed rates also pay to lock in the offered fixed rate at the time of application or any time before settlement.

This means that they continue to qualify for the lower rate if there is an increase during the settlement of the property.

The cost of the locks, which typically last around 90 days, vary among lenders, but typically cost around $ 750. Some lenders, such as Tic: Toc, don’t charge borrowers.

A $ 500,000 borrower whose rate increases by about 20 basis points to 2.46% before an application is processed could pay about $ 3,000 more not to lock in the rate, according to the analysis by RateCity.


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Mortgage Questions & Answers: This Lender Makes Home Loans Easy To Understand https://timeupsoft.com/mortgage-questions-answers-this-lender-makes-home-loans-easy-to-understand/ https://timeupsoft.com/mortgage-questions-answers-this-lender-makes-home-loans-easy-to-understand/#respond Thu, 04 Nov 2021 21:16:34 +0000 https://timeupsoft.com/mortgage-questions-answers-this-lender-makes-home-loans-easy-to-understand/ The subject of the mortgage can be very complicated and confusing. That’s why Jeremy Ogea, Branch Executive Vice President and Mortgage Loan Officer, breaks it down and simplifies it. Here are some of the most asked questions we get about home loans with answers from Jeremy. Q: What are closing costs and what do they […]]]>

The subject of the mortgage can be very complicated and confusing. That’s why Jeremy Ogea, Branch Executive Vice President and Mortgage Loan Officer, breaks it down and simplifies it.

Here are some of the most asked questions we get about home loans with answers from Jeremy.

Q: What are closing costs and what do they include?

A: “Think of closing costs like a pie cut into pieces,” Jeremy says. Each exhibit may contain third party fees, lender fees, and escrows. Here’s a look at what they can include:

  • Third Party Fees: Usually consist of title company fees, ratings, inquiries and credit reports.
  • Lender fees: the costs incurred by a bank to initiate the loan.
  • Commitments: prepaid fees collected at closing. Home insurance, mortgage insurance, property taxes, and HOA fees are all examples of escrow.

Q: How much do I need for a down payment?

A: First-time homebuyers and experienced buyers usually want to know how much to set aside for a down payment.

“A down payment can vary depending on the type of mortgage you’re looking for,” says Jeremy. “There are many down payment options available to a wide variety of borrowers. In general, a smaller down payment can make your purchase more affordable, especially for first-time home buyers. A larger down payment can lower your monthly payment, potentially avoiding mortgage insurance. ”

Jeremy continues, “No matter what type of purchase loan you are considering, it is always a good practice to save and put some funds aside for a down payment.”

Q: Can I use my family’s funds as a down payment?

A: “Usually yes!” said Jeremy. “When it comes to buying a home, borrowers can sometimes not have enough funds for a down payment. Fortunately, there are options for borrowers that may depend on the help of a family member of the donor.

Q: How is my interest rate determined?

A: Mortgage rates are determined by many factors and can fluctuate daily.

Jeremy says, “Each individual’s mortgage rate depends on a number of aspects including loan type, credit rating, loan-to-value ratio, debt-to-income ratio, and other factors. Some borrowers prefer the lowest possible rate, which is available with a surrender rate option. ”

With so many rate options available, it’s always best to talk to your lender about your specific needs, whether you’re making a purchase or refinancing.

Q: What is the first step in a purchase prequalification?

A: Prequalification can help you find your next dream home.

Jeremy says, “One of the first steps in the prequalification process is to talk to your loan officer about your options and what you are looking for. Once the application is received, your loan officer will review it and make sure all the conditions are met to issue a prequalification. ”

Jeremy continues, “This is an exciting opportunity to buy a home. Rest assured, whether you’re a first-time buyer or a seasoned buyer, we’re here to make the process simple, smooth and rewarding. ”

Q: Should I refinance my home?

A: Many homeowners seek to refinance their loans for several reasons.

“One of the main reasons borrowers look to refinance their homes is to reduce their interest rate, which can result in a lower monthly payment,” says Jeremy. “It’s always a good time to get a rate and term quote from a loan officer if you are considering lowering your current payment or loan rate. ”

Another common reason to refinance is to dip into your home equity. Withdrawal refinancing typically allows you to borrow up to 80% of your home’s value for a number of reasons. Depending on your situation, this can be a good option for things like debt consolidation, personal expenses or new home improvements. ”

Do you have more questions about home loans? Get answers by contacting a mortgage lender at Southside Bank.


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Home loans rose 76% to Rs 79,043 crore in March quarter, data shows https://timeupsoft.com/home-loans-rose-76-to-rs-79043-crore-in-march-quarter-data-shows/ Wed, 03 Nov 2021 07:00:00 +0000 https://timeupsoft.com/home-loans-rose-76-to-rs-79043-crore-in-march-quarter-data-shows/ Home loans sanctioned by finance companies, including housing finance companies, rose 76% to Rs 79,043 crore in the quarter ended March 2021, from Rs 44,907 crore in Q4FY20. Home loans also showed an expansion of 21.9% to Rs 23,418 cr versus Rs 19,207 cr at T4FY20. A series of measures taken by state governments, including […]]]>

Home loans sanctioned by finance companies, including housing finance companies, rose 76% to Rs 79,043 crore in the quarter ended March 2021, from Rs 44,907 crore in Q4FY20. Home loans also showed an expansion of 21.9% to Rs 23,418 cr versus Rs 19,207 cr at T4FY20. A series of measures taken by state governments, including reducing stamp duties, has boosted demand for home loans.

Auto loans showed a 28.3% drop in penalties to Rs 8,646 crore in T4FY21, from Rs 12,058 crore in T4FY20. Personal loans fell 27% to Rs 15,401 crore, from Rs 21,095 crore in Q4fY20.

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Review of WLTH Home Loans | Savings.com.au https://timeupsoft.com/review-of-wlth-home-loans-savings-com-au/ https://timeupsoft.com/review-of-wlth-home-loans-savings-com-au/#respond Mon, 01 Nov 2021 06:21:36 +0000 https://timeupsoft.com/review-of-wlth-home-loans-savings-com-au/ WLTH, pronounced “wealth”, calls itself “the natural evolution of money” – find out how this online lender is changing the mortgage market. Relatively new to the crowded Australian home loan scene, WLTH was registered as a business in early 2020 and launched its first home loans in early 2021. It aims to change the lending […]]]>

WLTH, pronounced “wealth”, calls itself “the natural evolution of money” – find out how this online lender is changing the mortgage market.

Relatively new to the crowded Australian home loan scene, WLTH was registered as a business in early 2020 and launched its first home loans in early 2021. It aims to change the lending experience and of payment into a more positive experience.

What home loans does WLTH offer?

For residential real estate, WLTH offers mortgage loans in four key product lines – owner-occupied loans, investment loans, interest-only investment loans and SMSF investment loans. All four product lines carry variable interest rates and are available for new loans and refinancing.

The fees for all product offerings are low, often without administration fees. The maximum that owner-occupiers can borrow is 95% of the value of the property; for investors paying P&I it’s 90%, while for interest only it’s 80%; and for SMSF loans it is 70%.

How did WLTH start?

Drew Haupt2.jpg

The Brisbane-based non-bank lender was founded by brothers Brodie (pictured below) and Drew Haupt (pictured above).

“The idea for WLTH originated at Noosa Surf Club around a bucket of shrimp and beer,” co-founder Drew Haupt told Savings.com.au.

“After eight years in the FinTech space managing an umbrella of financial brands, we returned to the drawing board with the vision of creating a product to solve cash flow issues in competitive home, personal and small business loans.

“To do this, we have undergone years of planning, branding and software development using AI technology to create our products and services. Along with this, we have developed a comprehensive roadmap of future releases to reduce the time and stress attributed to finance.

“Following the success of our official market launch in early 2021, we have been fortunate to establish ourselves in the market by successfully offering commercial and real estate loans to clients across Australia, bringing us closer together more of this goal. “

Brodie-H1.jpg

What are the special WLTH features?

  • Fast digital application and approval: Customers can sign up in minutes, complete an application in 15 minutes, and get approved for a home loan in days, not weeks.

  • ‘E-offset’ account: The electronic offsetting account can be used against the home loan, reducing the amount of interest ultimately paid on variable home loans.

“Our very competitive mortgage rates and our seamless digital experience are what sets us apart from the rest. The result is a simple platform that allows you to track all of your assets and better manage your money, ”said Haupt.

“We are also proud to be a digital lender and believe our products refresh the financial services industry. This includes feature-rich transactional accounts, a powerful payment app, a high-value loyalty system, and an innovative fintech pipeline for Australian consumers and businesses. “

Why choose WLTH over other lenders?

“WLTH’s mission has always been to refresh the financial services industry in Australia while maintaining a strong focus on positive environmental change,” said Haupt.

“An important feature that sets our home loans apart is that they give clients the ability to have a direct impact on our oceans and create a more sustainable world.

“In addition, our loan specialists pay special attention to each client. Loyalty doesn’t necessarily matter a lot at big banks because of the large number of customers involved.

“At WLTH, we believe customer support is important and is our top priority. We are very proud of our team of loan specialists for their expertise and dedication to excelling in the lending industry. “

WLTH’s commitment to beaches and oceans

A program launched in 2021, WLTH has partnered with the global eco-organization “Parley for the Oceans”.

Included in the pledge, WLTH pledged to clean 50 square meters of beaches and coastline for each loan paid.

“Our product is aimed at a new generation of customers motivated by genuine and impactful commitments to environmental responsibility,” said Mr. Haupt.

“For the environmentally conscious, using WLTH not only exposes you to a range of financial products, but also allows you to put your money where your values ​​are.

“Many large banks maintain corporate social responsibility cosmetic policies, which contribute to plastic in the oceans.

“At WLTH, we want to make real change in our environment by committing to cleaning up our environment, with every loan paid. “

WLTH developments and roadmap

“WLTH has had a very successful period since our official market launch, achieving financial growth projections and partnering with brands that align with our mission,” said Haupt.

The next step is to officially become a bank – also known as an Authorized Depository Institution or ADI.

“We’re currently looking at the personal account space on the product front, with plans for a rewards program and a batch payment platform to connect businesses and vendors,” Haupt said.

“We also plan to develop credit card-linked facilities, highly secure corporate payment options and secure ‘buy now, pay later’ invoices.

“Stay tuned.”

How to apply for a WLTH home loan

Applying for a WLTH home loan is a simple five-step process and can take as little as 15 minutes:

1. To lend: Select your loan and enter the basic information

2. About you: Tell WLTH about yourself by entering more details

3. Returned: Link your bank accounts and proof of income

4. Assets: Identify other assets such as stocks, property, etc.

5. Expenses: Break down your expenses, such as bills, transportation, existing loans and debts, and more

To speed up the process, WLTH recommends uploading documents such as payslips and bank statements.


Head image by Luisa Denu on Unsplash

In-text images provided

The entire market was not taken into account in the selection of the above products. Instead, a smaller part of the market has been envisioned, which includes the retail products of at least the Big Four Banks, the Top 10 Client-Owned Institutions, and Australia’s largest non-banks:

Products from some vendors may not be available in all states. To be taken into account, the product and the price must be clearly published on the website of the supplier of the product.

In the interest of full disclosure, Savings.com.au, Performance Drive, and Loans.com.au are part of the Firstmac group of companies. To learn more about how Savings.com.au handles potential conflicts of interest, as well as how we are paid, please click on the links on the website.

*Comparison rate is based on a loan of $ 150,000 over 25 years. Please note that the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as draw charges and cost savings such as fee waivers are not included in the comparison rate but can influence the cost of the loan.


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5 creative ways to ask for real estate references https://timeupsoft.com/5-creative-ways-to-ask-for-real-estate-references/ https://timeupsoft.com/5-creative-ways-to-ask-for-real-estate-references/#respond Fri, 29 Oct 2021 08:35:31 +0000 https://timeupsoft.com/5-creative-ways-to-ask-for-real-estate-references/ Asking for real estate references is often one of the most difficult parts of an agent’s job. Truth be told, it can be awkward to ask to work right away. Still, it’s important to understand that asking for references doesn’t always have to be an uncomfortable conversation. To that end, we have five creative ways […]]]>

Asking for real estate references is often one of the most difficult parts of an agent’s job. Truth be told, it can be awkward to ask to work right away. Still, it’s important to understand that asking for references doesn’t always have to be an uncomfortable conversation.

To that end, we have five creative ways to ask for real estate references. Take a look at it so you can decide which strategies you want to incorporate into your marketing plan.

Real estate references: 5 interesting ideas

1. Host a customer appreciation event.

If you want to make the big guns stand out when asking for referrals, consider hosting a customer appreciation event. In real estate, a customer appreciation event is one that you organize to thank all of your former clients for their business. It can be as simple as inviting your customers to the park for a day of family fun, or as lavish as hosting a golf outing with prizes and giveaways.

Whatever type of event you choose, the crucial part is finding a thematically appropriate way to ask for referrals. Most of the time, agents will give their client a small farewell gift with the request for referral attached. It doesn’t have to be a direct request. You can incorporate a slogan such as “Referrals are the heart of my business.” Call me if you know of anyone looking to buy or sell their home.

2. Give pop-by gifts.

If hosting a full event for your clients to enjoy seems like a bit over your budget, consider delivering pop-by gifts instead. If you are not familiar with the concept, pop-by gifts are small gifts that you can give to your customer. Usually, the freebies have a catchy slogan that advertises your services. In this case, you would want the tagline to specifically ask for real estate references.

That said, pop-bys are a two-pronged marketing strategy. The reason this is called a “pop-by” is that the gift gives you an excuse to drop by your customer’s house unexpectedly. Ideally, they’ll be home when you stop to drop it off, and you can spend a few minutes catching up with them. At the end of the conversation, you can always ask them for a reference as well.

Then, if you have some free time in the evenings or on weekends, consider volunteering at community events. Put simply, while this might not be the most straightforward marketing tactic for real estate referrals, it will allow you to socialize with members of the community that you might not have met otherwise. You can always strike up a conversation in the midst of volunteering and casually mention that you are a real estate agent.

When you take this route, make sure you volunteer for a cause that is personally close to your heart. Not only will this be more intrinsically fulfilling, but if you are committed to the cause, you will be more likely to go above and beyond as a volunteer, which will help solidify your reputation in the community.

4. Attend a trade show.

Consider attending a trade show. In this case, you might want to be one of the vendors or sponsors. It is important that you can distribute promotional items or other marketing materials with your brand on it. Not to mention your business cards, which will display your contact details in plain view. Although, truth be told, the more items you can display with your contact details, the better.

In this case, the type of fair you choose to attend is critical. Ideally, you will want to choose something that is adjacent to real estate. For example, a home and garden lounge would be a great choice, as would anything related to vacations or vacation rentals.

5. Cross-promote with another professional in the industry.

Finally, you may want to consider cross-promoting with another professional in the industry, such as a lender or real estate lawyer. Here it is very important to know the laws and regulations of the RESPA. The Real Estate Settlement Procedures Act (RESPA) is a piece of legislation that governs how information is distributed to homebuyers during the buying process. However, it also regulates illegal practices on the part of industry professionals and contains strict guidelines regarding referrals.

Still, as long as you follow the law, it’s perfectly okay to get real estate references from another professional in the industry. You may be able to come to an agreement by mutually marketing services in your marketing materials, such as email drip campaigns or newsletters.


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Climate change could make home loans more expensive https://timeupsoft.com/climate-change-could-make-home-loans-more-expensive/ https://timeupsoft.com/climate-change-could-make-home-loans-more-expensive/#respond Thu, 28 Oct 2021 06:39:00 +0000 https://timeupsoft.com/climate-change-could-make-home-loans-more-expensive/ “For many banks, part of creditworthiness is whether the loan collateral is insurable. “ More generally, since domestic banks depend on foreign debt and capital, international investors could raise the price of financing for countries and institutions that do not take climate change seriously. “Increasingly, investors around the world are paying more attention and prioritizing […]]]>

“For many banks, part of creditworthiness is whether the loan collateral is insurable. “

More generally, since domestic banks depend on foreign debt and capital, international investors could raise the price of financing for countries and institutions that do not take climate change seriously.

“Increasingly, investors around the world are paying more attention and prioritizing climate risk considerations when examining the credibility of those to whom they lend,” said Byres.

“There is a broader concern to ensure that the Australian financial system as a whole continues to have good access, as it does today, to debt and equity financing.”

ANZ chief executive Shayne Elliott agreed that in the longer term, home loans could be affected by climate change, just as people in areas prone to floods, fires and cyclones were already paying premiums. higher insurance.

“If Australia is, for some reason, seen as less attractive or riskier when it comes to climate change, and therefore we have to pay more to get that money, then yes, it will benefit everyone who borrows. “

“This is not our base scenario, but it is theoretically possible.”

The country’s five largest banks are currently undertaking a climate vulnerability assessment with APRA and the Reserve Bank of Australia, to determine how the financial system will be impacted by different potential climate scenarios.

Treasurer Josh Frydenberg warned in September that unless Australia adopts a net zero emissions target for 2050, capital market sanctions will increase borrowing costs, affecting everything from home and business loans to major investments in infrastructure.

RBA research found that there is a small portion of housing in areas most prone to extreme weather conditions that could experience price declines that could eventually lead to credit losses, but overall losses for the financial system are likely to be manageable.

RBA Deputy Governor Guy Debelle told the Senate committee that climate change presents risks and opportunities for Australia’s economy and businesses.

European sustainable finance rules could affect investments in Australia, he said, depending on international political negotiations.

Dr Debelle said most bank loans mature in less than five years, so lenders’ exposure to physical risk seemed manageable.

“There have been very significant impacts on the insurance industry,” said Dr. Debelle.

“A bank lends against collateral and for a bank to lose a lot on that loan, the value of that collateral has to really drop dramatically.”

“Given the size of banks’ mortgage portfolios and the diversity across the country, this mitigates the impact. “

APRA’s Mr Byres said there was “no hard evidence” at this point that mortgage prices were being affected by climate change.

“I would say the risk at this point is a potential concern, rather than a current concern, but it’s a real concern.”

APRA Vice President for Insurance Helen Rowell said if climate change were not mitigated, insurance costs would likely rise further due to the likelihood of more frequent and extreme weather incidents.

“There are different impacts for different geographic regions, different houses and constructions,” she said.


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