65 Bellevue Avenue, Denistone NSW 2114P: 02 9114 6663E: info@denfin.com.auW: www.denfin.com.au

DENISTONE FINANCIAL SERVICES PTY LTDWe Listen, We LendMortgage Broking ■ Personal Loans ■ Home Loans ■ Commercial ■ Leasing

Did you know that the banks donot accept some properties assecurity for a home loan? So evenif you get pre-approval, and youdecide to buy a certain propertytype, your loan may be declined.This is because a pre-approval isalways subject to the lenderaccepting the property that youbuy as security. Where you haveconcerns, it is best to check withus before making any offers.

As a general rule the property youbuy must meet these criteria:

Less than 50 m2 internally: Ifyour unit is less than 50 m2excluding balconies and carspaces then some lenders maynot accept it as security for a loan.

Land size under 2 ha: If the landis greater than 2 hectares, somelenders may not accept it assecurity for a home loan. Thisguideline varies significantlybetween lenders, with someaccepting up to 50 ha or more.

Standard title & zoning: If theproperty you are buying is notzoned for residential use or is nottorrens, freehold or strata title (orleasehold in the ACT only) thenplease check with us beforeproceeding. Company title &

stratum title can be accepted bysome lenders if the LVR isreduced.

In a major town or city: If youare buying in a remote area orsmall country town then somelenders will reduce the maximumLVR of your loan.

No rental guarantees / vendorincentives: If the seller is offeringa rental guarantee, a rebate atsettlement or has includedfurniture in the purchase pricethen please check with us beforeproceeding. In many cases, thevaluer may value the property forless than the purchase price.

In a good condition: Banks maynot accept the property if it’s notin good condition. As a generalrule of thumb, if the propertycould not be rented out as it isnow, then it is not in good enoughcondition.

We recommend that once youfind a property you like, you email us with a link to the listingfor the property in Domain orRealestate.com.au. We can theninform you if there appears to be any aspects of the propertythat may be an issue for somelenders.

Not allproperties are okay for a lender!

May / June 2016

Important note: Readers should not rely solely on the content of this newsletter. All endeavours are made to ensure the content is current and accuratehowever, we make no representations or warranties as to the accuracy, reliability, completeness, or currency of the content. Readers should seek theirown independent professional advice before making any decisions based on the information contained herein.

DenistoneFinancialServices Pty Ltd65 Bellevue Avenue,Denistone NSW 2114

P: 02 9114 6663E: info@denfin.com.auW: www.denfin.com.au

Some of our lenders include

Is now a good time torefinance your mortgage?Most experts recommend that you conduct afinancial health check at least every 3 yearsand that you review your home loan at leastonce a year.

But how do you know when it's a good timeto refinance? Is it as soon as you've sourced abetter rate? Is it when your existing mortgageno longer matches your needs? Or is it whenthe cash rate is expected to fall?

For many, the decision of when to refinanceyour mortgage is affected by yourexpectations about your capacity to repay thedebt as well as your job security. Typicallywhen interest rates are low, an individualwith a secure job may feel more comfortablewith the application process to consolidatedebt, possibly at a new lower rate.

On the other hand, if the economy is weakand your perceptions of future job security

are low, you may not feel comfortable aboutdoing it. However, consolidating debt aheadof any period of instability can be a goodmove if your repayments are moremanageable later.

In an environment of falling interest ratesand intense competition between lenders, itmakes good financial sense for borrowers toregularly check if your existing home loanoffers competitive interest rates, chargesminimal fees and value-for-money featuressuited to your lifestyle and needs.

Contact us anytime to discuss the type ofloan that will complement your borrowingneeds. We will be able to review your homeloan finances to help you reach a decisionabout whether now is the right time or ifthere is a need to refinance. As your Broker,we’re here to help you.

Areas to renovate which add value to a propertyRenovating a property in the right way could mean not blowing the budget and finding theright place in the house to renovate is always a good choice.

Appliances Online conducteda national survey and it wasfound that the prime focus ofrenovators are usually thebathrooms but experts saythere still are other placeswhere one can better spendmoney for.

John Winning, chief executiveof Appliances Online said thatif one were to choosebetween renovating a kitchenand a bathroom, the kitchenis always the good place tostart.

Winning shared, “Clean the bathroom and renovate the kitchen. It’s really obvious if youhave an old kitchen.”

Adding on some items to one’s kitchen like soft-closing drawers, self-closing cupboards,classy benchtops, steam ovens and induction cooktops are the features that usually impresspeople and the good news is that prices for these items have dropped recently.

Winning added, “Never go cheap on the rangehood. Everyone tries to save money on it butit’s the most important appliance for the longevity of a kitchen.”

May / June 2016

New Website LaunchedWe’ve not only been workingwith our valued clients, we’vealso been working hard on ournew website.

Check it out:- http://denfin.com.au/

We’d love your feedback.

Call us today to discuss anyfinancial scenario.

Kind regardsThe DFS Team