What we do
Service philosophy
We specialise in educating and supporting clients on their path to securing a financial future. We bring a genuine passion to our industry and always seek to guide clients on their property journey.
Unlike many lenders and indeed mortgage brokers, our goal is not to simply find a loan and move on. We seek to secure the perfect loan for our client’s long-term needs, plus be available to them as an experienced partner throughout the process and beyond.
We always strive to create long-term relationships with our clients.
First Home Buyers Property Investors Refinancing Solutions Upgrade / Downsize Property ReportWhat we do
1. Helping first home buyers
At Golden Eggs Home Loans, we specialise in first home buyers who come to us with a range of mixed emotions and a long list of questions!
First and foremost, we’ll sit with you to understand your key drivers and motivations and what you’re realistically able to achieve.
Then, through a range of information gathering and explanation, we can determine the best outcome for your needs.
The process will include:
- Explaining the step-by-step process for buying a home
- Based on the information gathered, what type of loan is best suited to your needs
- Helping you understand, based on the loan amount, how much they will need to save or have available
- How much you can afford to borrow and repay based on current incomes and lender serviceability requirements
- Establishing what extra costs are involved including stamp duty, mortgage insurance, pest and building inspections, legal / conveyancing fees and moving costs
- Determining if you may be eligible for the First Home Owners Grant
- Determining if it makes sense to approach a guarantor and how to reduce the risks for both parties and we ALWAYS meet with guarantors to explain their risks directly to them face to face, arranging separate appointments where necessary.
Through this process of careful and detailed enquiry, we will be able to determine the very best loan outcomes for our first home buyers.
2. Supporting property investors
Golden Eggs Home Loans specialises in loans for investment properties. We can help you work out the cash flow cost of an investment property after taking into account rental income and all other costs and benefits.
With property investment it is also important to ensure that your current goals are, as much as possible, compatible with your future goals. For example, you may be looking at an investment property as a step toward buying your own home in the future.
To begin, there are some key variables to consider before we can start to build the right structure for your investment loan.
Are you:
- Renting because it’s too expensive to buy where you want to live?
- Buying your first home but want to own an investment property some day?
- Wanting to upgrade to a bigger home and would like to keep your current property as an investment?
- A home-owner and want to secure your financial future by investing in real estate?
- Wanting to add to your investment property portfolio?
We will discuss the potential you have to become a property investor. In many cases, our clients are not sure of what they want until some of the possibilities or ideas they have are brought to life! We will always seek to inform and educate on what might be possible in securing the perfect property. We will also go through the advantages and risks of each scenario to help you make an informed decision and structure your finances to reduce both your risks and your stress!
We all know Australians love property and investing in real estate is a financial strategy used by many of us.
Some key benefits include ongoing returns in the form of regular rental income, increases in the value of property over time (capital growth) and possible tax advantages. If you have existing equity in your home, you may be in a position to use that equity as a deposit for an investment property.
With an investment property, rental income helps to cover a large portion of loan repayments and property expenses. If an investment property is positively geared, that is, the income exceeds the costs of owning the property, you will have positive net cash flow.
In a negatively geared situation, any extra costs you have to cover, can reduce the tax you pay on your employment income. Ideally over time, the value of the property goes up, building a strong asset for your financial security.
It is always important to remember that property investment, as with any investment, carries some risk so proper education, planning and due diligence are paramount. We cannot give tax advice but can recommend tax experts that we work closely with.
Let us help you become a confident property investor!
3. Finding refinancing solutions
Refinancing is replacing a loan you already have with another loan and usually, with another lender.
Typically a loan is refinanced to:
- Move to a better interest rate
- Move away from a current lender
- Switch between fixed and variable rates
- Secure additional functionality – for example, an offset account
- Access equity in the property for renovations or other investments
- Consolidate other debts such as paying out credit cards
When considering refinancing, it is important to ensure that you will be in a better position with the new loan.
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As part of our service, we will explain all the costs and benefits of the refinance to ensure you understand the changes and the new set up will be worthwhile.
This is essential as we often see that even if your repayments decrease through refinancing, it doesn’t automatically mean you will save overall. For example, if you take out the new (refinanced) loan for a full 30 year term, you are adding years to your mortgage and will likely end up paying more over that time.
As your professional mortgage partner, we will ensure you understand how to manage your new loan and secure the full benefits from it. When planned and executed correctly, a refinance should have the potential to save tens of thousands of dollars over the term of the loan.
We always strive to build long-term relationships with our clients with regular reviews to ensure your loan continues to be a good fit with your evolving circumstances and goals.
As our clients build equity and assets over time, we continue to provide guidance and support in consultation with other professionals to help secure their financial future.
Let us help you in the refinancing process.
4. Helping upgraders or downsizers
Family growing and need a bigger home? Are you an ‘empty nester’ and need to downsize?
Whether you are one of these or simply keen to make a change, the management and timing of both selling and buying is all-important.
Let’s look at some options and scenarios and how we can help:
Selling before buying the new home
Selling before you buy means you can avoid having two mortgages at once. In this instance, you pay out your old home loan once sold and have surplus funds available to put as a deposit toward your new home. This means you know exactly what you need for the new transaction.
While this is a straightforward method, there may be the downside you could need a temporary place to live until you settle in your new home. It may not be an issue if you have alternate accommodation (say with family) or can rent somewhere. Alternatively, you may set a long settlement period on the sale of your home to give you time to find a new home and then seek to arrange simultaneous settlement of both the sale and purchase of properties.
Let us help you with this process.
Buying the new home before selling your existing one
If you have found a new home but haven’t sold your old one yet, it is possible to have two mortgages at the same time. One way to do this is with a ‘bridging loan’ which allows you to finance the purchase of the new property before you sell the old one.
There are, however, some challenges.
Bridging loans can have multiple conditions. There are time limits with penalties if you exceed the time. The financial, burden of carrying two mortgages if you can’t selling your existing home or selling it for less than expected.
Another option is a deposit bond that allows you to cover the deposit on a new home when you don’t have immediate access to the required funds. However, you still need to sell your home before you settle on the new one otherwise you may not have the money to complete the purchase.
When buying before selling, timing becomes crucial. In addition, you need to be sure you can afford the mortgages on both properties during the transition.
We have the expertise to advise and ensure you understand the risks and costs.
Keeping your existing home as an investment property
A final alternative may be to keep your old home and convert it to an investment property. We can work with you to determine the cost of holding both properties and help you evaluate whether this is a viable option for you.
As investment property specialists, this is a key area we talk about with our clients when we first meet. If keeping your current property when upgrading in the future is a possibility, we will discuss how to set up your loan from the very beginning so that it provides the most flexibility no matter what you end up doing.
With our expertise, and taking into account advice from your other professional advisers (accountant, solicitor, financial planner), we can assist you to get set you up with this solution so it is tax-effective, flexible and helps you to manage cash flow.
If you have given this idea consideration, let us help.
Free property report
For prospective clients (CONFIRM) we offer a free property report (normally $39.95) for the address of your choice. The report contains a property description, estimated value, sales history, location highlights, recent comparable sales, and suburb sales history and capital growth data.
For our existing clients, we offer this as an ongoing service. We can also provide clients with suburb profiles and property market updates for the nation on a monthly basis (helpful for investors researching multiple markets).
These reports are from RP Data, a global company and the leading provider of property information and analytics in Australia. Using public and proprietary information, they electronically value every single property in Australia every week. Their data is used by real estate agents, developers, investors, multi-national corporations and financial institutions, including the Reserve Bank of Australia.