EVERLEND

Are you self employed? Considering a loan but dreading the process? It may not be as enduring as you might think.. Many lenders now focus on company directors' yearly salary as income when approving loans. Which means, you may not need to use company profits or other adjustments. If you have consistently paid yourself for the last 6 months, (and this income suffices to service the loan) the lender will typically require only a letter from your accountant confirming your company’s profitable status. This policy is proving beneficial in helping directors secure the finance they need. For all this and more tune into the latest episode! Simply search EVERLEND wherever you find your podcasts! #everlend #youhavemyinterest #mortgagebroker #financetips #financepodcast

If you run a company, and are wondering how banks will assess your income, let us break down some key components to consider: ➡️ Typically a bank requires 2 financial years of tax returns and financial statements from companies, trusts and individuals to trace the flow of funds. ➡️ Banks will compare these to understand the consistency and nature of income distribution. They often average the profits or distributions made to the individuals over two years. ➡️ Companies must remain profitable independently of the distributions to the trust. ➡️ Any non-recurring income or adjustments, like COVID grants, are also scrutinised to ensure they do not inflate the usual income figures. Now of course, this is a lot to comprehend, so it’s important to work with an accountant, and broker who understands complex structures, to ensure you are setting yourself up for success! Catch the full episode live now. Listen now wherever you find your podcasts! #everlend #youhavemyinterest #mortgagebroker #financepodcast

If you run a company, and are wondering how banks will assess your income, let us break down some key components to consider: ➡️ Typically a bank requires 2 financial years of tax returns and financial statements from companies, trusts and individuals to trace the flow of funds. ➡️ Banks will compare these to understand the consistency and nature of income distribution. They often average the profits or distributions made to the individuals over two years. ➡️ Companies must remain profitable independently of the distributions to the trust. ➡️ Any non-recurring income or adjustments, like COVID grants, are also scrutinised to ensure they do not inflate the usual income figures. Now of course, this is a lot to comprehend, so it’s important to work with an accountant, and broker who understands complex structures, to ensure you are setting yourself up for success! Catch the full episode live now. Listen now wherever you find your podcasts! #everlend #youhavemyinterest #mortgagebroker #financepodcast

Curious about refinancing your mortgage in Aus? Here’s what to expect: The process typically takes 4-6 weeks, but can stretch longer or shorter depending on factors like obtaining the correct paperwork upfront, lender processes and time-frames to issue approval, and how long your outgoing lender takes to release the property. To speed up the process, we recommend: • Being on top of the required paperwork - the quicker you can send this to us, the quicker we can lodge! • Calling your outgoing lender early to obtain the discharge forms so they don't hold you up! Stay patient, stay organised, and get ready to seize better rates and terms. 🏠 #everlend #mortgagebroker #refinance #homeloan

In this episode of #youhavemyinterest Evelyn talks about all things self employed lending. Self employed finance is typically seen as ‘hard’ and can take longer to assess, but Evelyn reveals why this is just a myth, and how critical it is to speak to people who know specifically which lender will assess your income in the most favourable manner. Evelyn also talks about some of the commonly used policies she is seeing work for a number of clients, and the minimum requirements you need to meet if you are self employed. Finally, Evelyn talks about HECS debt reforms for Australians, and Commercial and Industrial Stamp Duty Reforms. You can read the information sheet discussed ⁠here⁠.

How do credit cards impact borrowing capacity?  In the latest episode of #youhavemyinterest Evelyn discusses how lenders assess your borrowing capacity and how credit card limits impact this - regardless of how much “debt” is actually owed on them. Did you know, for every $1000 of credit card limits, the lender will assume you pay $38 in interest (or 3.8%)? What this means is, that’s $38 per month they allocate to your credit card repayments and not your potential home loan repayments. For all of this and more, tune in to the latest episode! Simply search EVERLEND wherever you listen to your podcasts! #everlend #creditcard #managingdebt #mortgagebroker #financetips

In this episode, Evelyn talks about how she assisted a long-term client to sell a current property and purchase their next without using bridging finance. 🏡 Now this structure may not work for everyone, so Evelyn breaks down who would be eligible to finance a purchase this way. She also talks about why loan structure is so important, and why a variable loan with offset facilities was the most suitable option for this client. 🎙️ The new episode is now live! Simply search "EVERLEND" wherever you listen to your podcasts! #everlend #property #realestate #youhavemyinterest #financepodcast #propertypodcast

Ever wondered about the financial snapshot of the average Aussie? 💰 Here’s a peek: On average, annual earnings stand at around $95,000 for men and $78,790 for women (pre-tax). When it comes to savings, the median is around $5,000, which can vary greatly by age and circumstance. The average Australian carries a credit card debt of $3,841, personal debt totalling $17,700, and an average mortgage of $565,881, though this can vary by location! #everlend #savings #finance #mortgagebroker

Keeping a healthy credit score is essential for securing financial opportunities and ensuring your financial well-being. Wondering why its important to have a good credit score? scroll through for some top tips on how to keep yours healthy! Have questions about keeping your credit score healthy? Send us a DM and one of the team will be able to help you out! #everlend #creditscore #financialtips #mortgagebroker #finance

Equity is effectively the difference between your property value, and how much you owe the bank. It can be a fantastic tool to use and tap into when it comes to buying another property or accessing funds for renovations, just to name a few uses! However, do you know how much of this equity the banks allow you to use? It's not 100%! Here's how to calculate your "useable" equity: 1️⃣ Take the current value of your property. 2️⃣ Multiply this by 80% (this is because 80% is generally the loan amount you can borrow up to without paying LMI) 3️⃣ Subtract the value of your current loans. = the amount of usable equity you have in your property! Have any questions regarding your equity? DM us and one of the team will be able to help you out! #everlend #mortgagebroker #equity #interestrates #borrowingtips