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Keep up to date with expert advice and information from Bernie Lewis Home Loans

Genuine Savings Explained

The way you save is more important than ever before. If you’re borrowing above 80% of a purchase price genuine savings is key; you may have to prove you have ‘genuinely’ saved 5% over a set period of time.

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Your Home Loan Application and Household Expenditure Measure (HEM)

Household Expenditure Measure (HEM) is a measurement tool used by lenders to approximate living expenses. This tool helps to determine your available income which may be used to calculate how you can repay a home loan. HEM is a figure that represents the average dollar amount that households spend each year. There are different HEM categories and your mortgage broker and lender will match you to a corresponding HEM category.

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What money skills Australians wish they had learnt in school?

According to research results from Finder, many Australians wish they were taught more about money in school. A nationally represented survey revealed almost half of Australians (46%) wished they’d learnt how to invest during their time at school, while 44% wish they’d learnt how to manage their money.

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Is refinancing your home loan on your to do list?

Before you consider refinancing your current home loan, it is important to check that the benefits of refinancing outweigh the costs. Accessing the equity in your home frees up cash that could be used to renovate, re-invest, buy a new car, consolidate debt or pay for unexpected expenses. To help you make an informed decision about refinancing your home loan, there are some important factors to consider.

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Celebrating International Women’s Day

To celebrate growing numbers of women making it to the top, we thought we’d highlight some inspirational women within Bernie Lewis Home Loans who are out there smashing goals and breaking glass ceilings in the mortgage industry.

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Why you should consider engaging a mortgage broker to assist you

You should consider engaging a mortgage broker if you want access to home loans that aren’t readily available to you. If you do not have impeccable credit, if you have a unique borrowing situation like owning your own business, or if you aren’t finding mortgages that will work for you, then a broker might be able to get you access to loans that will be beneficial to you. Many individuals prefer to work with a mortgage broker regardless of their situation.

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mortgage market update December 2022

Is Australia’s newfound love for regional areas a fleeting thing?

The COVID-19 pandemic is disrupting the way we live our lives but, no, there is not a mass exodus from Australia’s capital cities. For some, pandemic-related disruptions might have just heightened their dissatisfaction with where they live. For others, working from home might have provided them with the opportunity to consider alternative living arrangements. However, right now, given the data it is unlikely that COVID-19 is driving a major shift away from capital cities or city lifestyles.

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Fallen in love?

Buying a house is a roller-coaster of a journey and if you don’t think it through properly, it can cost you a lot more than anticipated. Don’t get caught ‘off guard’ and make sure seek advice from one of our experienced mortgage brokers who can help you find your one true love.

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Are you ready for a rise in interest rates?

Leading economists and market data are now suggesting we could see the RBA raise rates as soon as June, with a succession of increases over the ensuing twelve month period. Are you ready for a potential increase in your monthly home loan repayments?

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Beware The Great Resignation If you Want To Buy A Home

In recent months there has been much talk in the media of the post pandemic ‘Great Resignation’ that is anticipated to sweep through the country. After months of lockdowns, work from home and social isolation in many parts of the country, people have had time to think and reassess their career aspirations and current working arrangements.

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The Regional Rise

As we see an increase in more South Australians working from home, research shows a spike in regional living. This shift shows South Australians seeking a more affordable location and a different lifestyle.

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