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Is your loved one in an aged care? Then you must read this.

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#Pensioner #AgedCare #Retiree #ReverseMortgage #Mortgage #HomeLoan
 
Heartland’s Aged Care Loan is similar to a reverse mortgage, except it has been designed specifically for those residing in aged care. As a result, unlike a standard reverse mortgage which has no term, this loan has a five year term.
The LVR determines how much Heartland is able to lend to customers, based on the value of the property used as security for the loan and the age of the youngest borrower. The table below shows the new maximum amounts that apply depending on the age of the youngest borrower.
pensioner LVR
The loan is typically used to fund aged care costs such as a Refundable Accommodation Deposit (RAD) or Daily Accommodation Payments (DAP), but can also fund other costs such as home renovations.
 
We have years of experience in aged care and finance, call Madhu on 0425 341 086 to help your loved one. Email us at loans@financeandmortgage.com.au for more details. Share your thoughts on Facebook.

Savings Tips

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Most people carry a lot of debt and very little savings. The goal is just the opposite: You should save 15% of your pretax income via super contribution, and an additional 20%–25% of your after tax income. #savings#investment#coffee#homeloan#budget The key is to make a budget and stick to it.

I have a always lived on a strict budget 50% of my after tax income goes to my mandatory household bills: Mortgage, car payment, utilities, etc. I then try to save on the things I buy consistently like petrol, groceries, household stuff, and major purchases and investing that money.

For example, by not spending $10 a day for lunch or overpriced coffees you’ll save $200 a month. At the end of 12 months, you’ll have $2,400. If you save an additional $50 every month, you’ll end up with $3,000. Big deal right? Not impressed? Imagine you are a making a higher level of income, and multiple your savings amount by 10 to $2,500 a month. That’s a $70,000 difference! Imagine that. That can be the deposit on your new home.

Call me on 0425 341 086 to discuss your investments and home loan. Read similar articles on Facebook.

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A valuation report is a professional and legal assessment of the value of your property prepared for many different purposes. #Mortgage #Valuation #homebuyer #homeloan

Here are the most common reasons:

  1. Mortgage/refinancing
  2. Before-You- Sell: price/reserve setting
  3. Before-You- Buy: to ensure you buy good value
  4. Insurance replacement cost
  5. Divorce or business dissolution
  6. Capital gains tax calculations
  7. Stamp duty calculations when transferring property ownership
  8. Estate/probate proceedings
  9. Rental determination
  10. Portfolio reviews
  11. Current or retrospective market value

Read more on different values for the same home and other posts on LinkedIn.

Money-Personality

 

 

 

 

Do you constantly overspend? You personality might be controlling your purse…

Did you know that each letter of your Myers-Briggs type could affect your finance?  #Investment #Personality #introvert #extrovert #Planning#shopping

Extroversion vs. Introversion
The E-I preference pair deals with the way people source their energy. Extroverts may be prone to overspending on social activities like annual getaways with friends or work happy hours. Introverts on the other hand, may spend too much time alone pondering a big money decision, arming themselves with loads of information but not seeking potentially useful outside input.

Sensing vs. Intuition
The two middle letters that make up your MBTI personality type shed light on (1) how you absorb information and (2) how you make decisions or come to conclusions. Sensing is about taking in information in a very specific, step-by-step, sequential way. People who show a preference for Intuition prefer the big-picture information. People with extroversion and sensing preferences might not consider what’s coming around the corner so it’s important that they consider how their present decisions could affect long-term goals.

Thinking vs. Feeling
Thinking people make a pros-and-cons list. Those with a feeling approach, however, give weight to how their choices will affect those close to them.

Judging vs. Perceiving
The J-P preference pair captures the way you organize your world. People who fall under the judging could be a bit too hasty when it comes to making money moves because they just want to experience the “joy of closure. Perceiving people they tend to drag their feet because they desire casualness and flexibility. Which means that they may wait too long to make those important financial decisions.

Read more on Facebook or LinkedIn.

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