LIFT LENDING – MORTGAGE BROKERS
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About us
Lift Lending provides access to the latest and most comprehensive list of products and services to best meet your financial needs. We specialise and are passionate about helping clients achieve their financial goals whether it be for first home buyers, financing or investment. This means taking the time to understand your short and long term goals with your life aspirations to negotiate the right finance options for your needs from the hundreds that are available. We will support you throughout the process and will work with you long after your loan has settled to make sure you are still getting the best value and most suitable loan for your ever changing lifestyle and goals. We have access to platforms and expertise from various groups including Mortgage Australia Group, AFG and our extensive list of industry specialists. If you want to become mortgage free faster and easier and to discuss or review your loan requirements call on the details below. Start saving today!
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How we can help you?
Via our access to a diverse and comprehensive list of products and services
Working out your needs and requirements should not be rocket science How many times has the thought of trying to get a better structure to your financial requirements seem too overburdening? People often tend to leave this or put it in the ‘too hard basket’. Whether you are new to the market, trying to simplify or find a better product or rate, we can provide the assistance that better meets the needs of your portfolio. We can provide access to assistance in determining your serviceability and portfolio needs through our extensive brokerage platform we use. By entering in your specific needs into the tools, we can help narrow down the products and rates that best suit your needs. The platforms we use help minimise the amount of rework when applying for different products through different institutions, saving you time.
Do you have a low deposit?
Have you got only a low deposit or are new to the market? – We can help.
Need to work out your overall loan size and see what is available?
How much can you borrow against your assets and find the best product for your needs. – We can help.
Not sure if you can service a new loan?
Not sure if your income can allow you to service the loan for your needs, whether it is a new house or your portfolio of loans? – We can help.
Meet your needs
We strive to find the products and services that best meet your needs – always.
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Our Team
Sandra
Specialist Mortgage Broker / Partner
Peter
Partner
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Testimonials
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Latest News
News from our social media feed
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Sandra & Peter Erdel - Lift Lending Peakhurst
www.liftlending.com.au Provides mortgage and lending product support to meet personal and investme
Know your rights as a borrower.![]()
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As a borrower, it pays to know your rights - and don't be afraid to exercise them!![]()
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It can all seem a little intimidating when you apply for a loan, and it seems like the lender is putting a lot of conditions on you as the borrower. But what are your rights? Borrowers are heavily protected by state and federal law, and you can expect your lender to keep up their end of the bargain too. You have:![]()
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The right to know what you're in for![]()
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The lender must provide you with a very detailed contract which outlines all of the terms and conditions of your loan in clear language. You should take the time to understand all of your obligations, fees and charges and make sure the loan amount details are all correct.![]()
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The right to know your interest rate![]()
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Your lender is required to communicate interest rate changes to you in advance - either directly, or by putting an advertisement in a major newspaper.![]()
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The right to know your repayment amount![]()
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The lender must provide you with written notice at least 20 days before your interest rate is due to increase.![]()
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The right to a copy of your loan statement![]()
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A loan statement must be provided to you every six months. You have the right to dispute any transactions that you don't feel are correct or justified.![]()
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The right to pay out your loan at any time![]()
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There may be some fees involved, but you do have the right to pay your loan out at any time. Accordingly, you also have the right to know your payout figure, which your lender must provide to you within 7 days of receiving a written request.![]()
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The right to terminate your contract before the funds are drawn down![]()
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You have the right to pull out of the transaction if the funds have not yet been drawn down for settlement to take place.![]()
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The right to get assistance in times of financial hardship![]()
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There is legislation in place to protect you if you experience financially tough times. It's worth investigating the relevant options so that you are ready for the unexpected.![]()
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But, you would remember from childhood that more rights usually equals greater responsibilities. There are a few obligations that you must keep to your lender as well:![]()
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Provide truthful, factual information when you apply.![]()
- Make all of the repayments on the due date.![]()
- Keep the property in good condition and don't make any big alterations without getting permission from your lender.![]()
- Take out insurance for the full replacement value of the buildings/structures and keep the insurance policy paid and current.![]()
- Don't sell, rent, or mortgage the property without your lender's permission.
If you are Self Employed - here is an easier way to get a home loan.![]()
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If you work for yourself, you know the sense of achievement that can come with building your business from the ground up. ![]()
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Many self-employed people are fantastic with money, and able to juggle a wide variety of demands on their time and their budget. In spite of this, they often find it very difficult to obtain a home loan.![]()
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The unfortunate dilemma facing self-employed borrowers is - how to demonstrate income using traditional means. ![]()
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Accountants will help you find ways to reduce your taxable income when you work for yourself - which is not just acceptable but often essential if your business is to survive in our complex taxation system.![]()
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Depreciating assets such as equipment and vehicles, incorporating as many costs as possible into the business expenses and allocating some payments to a spouse are all ways that businesses try to minimise their tax liabilities.![]()
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But the downside of this strategy is - if you make the income disappear, you can't bring it back again when you try to apply for a home loan. ![]()
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As a result, many self-employed borrowers aren't able to qualify for a traditional loan.![]()
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The solution to this problem is a loan that was created with self-employed borrowers in mind - the Low-Doc loan. ![]()
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Low doc means that there is a low amount of documentation required, compared with other lending methods. Usually you can use your quarterly BAS statements and bank records to help demonstrate your income - which is also useful if you're not up to date with income tax returns.![]()
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This option isn't for everyone though. You will usually pay a higher interest rate for one of these loans because the lenders still view self-employed borrowers as a higher risk.![]()
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Generally you can't borrow more than 80% of the property value - which means that on a purchase price of $400k, you would need a deposit of $80k just to start the conversation. On top of that, you usually have to pay all of the upfront costs associated with purchasing the property, such as stamp duties and legal fees.![]()
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There are some very strict conditions that lenders require when offering Low-Doc loans, but if you have struggled to get a traditional loan due to being self-employed, this could be the solution for you.
Why not consider a whole new range of tenants for your investment property?![]()
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Pets have been long maligned by landlords for their potential to make a mess and cause damage. ![]()
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But with pet ownership in Australia ranking the highest in the world, property investors who turn their backs on our furry friends could be missing out on tenants and dollars.![]()
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Before they dismiss dogs and cats, landlords should consider that 60 per cent of Australians have pets and one third of households rent. Saying "no" to Fido and his feline foes means narrowing the rental funnel. At a time when national vacancy rates are climbing, this could be a costly choice.![]()
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Many landlords are now welcoming pets and reaping rewards. Here are some tips to help you embrace a pro-pet policy.![]()
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Pets don't rent - their owners do.![]()
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Opening the door to pets immediately makes your property more attractive to a wider range of tenants. The key is to consider whether the pets, particularly dogs, are well managed and trained. ![]()
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This can be hard to assess, unless you happen to know your renters, so a little extra leg work is required.![]()
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Arrange to meet the applicant with their pet so you can see the animal for yourself and how it behaves. Reference checks are also crucial and, if you are especially diligent, a chat with the applicant's previous neighbours should give you extra insight into their pet management. ![]()
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Some renters are even developing resumes for their pets, with photos, references and medical history.![]()
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Keep in mind that while you are not allowed to discriminate against rental applicants on the basis of race, gender, marital status etc, applicants cannot claim discrimination if you reject a particular pet.![]()
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Higher yields, longer stays![]()
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So prevalent are anti-pet policies that a researcher at the University of Western Sydney is now investigating the social impacts of these restrictions on renters and the broader community.![]()
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Because it can be so hard for tenants with pets to get a paw in the door, they are often prepared to pay a premium to secure a property. ![]()
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While this does not mean charging more because someone rocks up with a pet, it gives landlords the opportunity to pitch their properties to pet owners and structure their rents accordingly.![]()
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For the same reason, pet-lovers are also likely to stay longer, which means lower turn-over and lower rental costs for landlords. Although data is scant, one 2003 survey in the United States showed renters with pets stayed an average of 46 months, compared to just 18 months for those without.![]()
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Have a pet agreement![]()
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Make sure your rental agreement includes a pet policy that stipulates the pet owner is responsible for:![]()
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Any property damage caused by the pet (inside and out).![]()
Injuries caused to the pet on the property.![]()
The pet's behaviour (including barking).![]()
Regularly cleaning up after the pet.![]()
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Strata permission![]()
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If you own a strata property, such as an apartment, you will also probably have to convince the body corporate to permit pets. ![]()
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If you are on the body corporate you may have more sway in arguing your case. Some body corporates are loosening up, realising many buyers often have pets. Once owner-occupiers pave the way, it's easier for renters with pets to get the nod.
The Australian finance market is complex and constantly changing. The clear dominance of the 'Big 4' banks has contributed to a perception that all lenders are the same, but in fact consumers are spoilt for choice.![]()
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There are around 55 banks in Australia, over 100 building societies, mortgage managers and credit unions, plus numerous other non bank lenders.![]()
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When looking for your next home, widen your search and you might find some great lenders out there.![]()
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For more details, check out my "Beyond the Big 4" fact sheet. www.mortgageaustralia.com.au/email/files/beyondthebig4.pdf
Face the future with greater certainty with a fixed rate home loan.![]()
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One in five Australians taking out a home loan is now opting to fix their interest rate, according to a recent AFG Mortgage Index.![]()
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Not only are fixed rates proving popular in the midst of global economic uncertainty, many borrowers are cashing in on unprecedented, increased competition around fixed rate loans. ![]()
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Traditionally, lenders have set fixed rates a smidge above the average variable rate. At the moment, however, many institutions are offering fixed rates below others' variable rates, prompting savvy borrowers to shop around.![]()
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The main benefit of a fixed rate is certainty. Regardless of shifts in the economic sands, your mortgage repayments stay the same, allowing you to budget with more confidence. If official interest rates rise, your mortgage repayments are unaffected. On the flip side, of course, if interest rates drop, you won't benefit.![]()
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With experts wavering on whether local interest rates will go up, down or nowhere over the next 12 months, now could be an opportune time to take advantage of special offers around fixed rates.![]()
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Some lenders, for example, are offering fixed rates at 0.8 per cent lower than the standard variable rate of other institutions. On a $300,000 loan, that equates to a $200 saving in interest each month.![]()
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Fixed rates are generally based on what the economy may do over the next three to four years, while variable rates are more aligned to the current cash rate, set by the Reserve Bank of Australia. At the moment, this is overlaid with the fact lenders are looking to drive movement in the market through competition. ![]()
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Although Australia's economy is deemed very stable against the backdrop of the European debt crises and slow economic recovery in the United States, home owners have been happy to sit on the sidelines to see how it all plays out before making any decisions about buying and selling. ![]()
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As a result, many financial institutions have been trying to entice us back in the game with competitive fixed rates.![]()
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As with all borrowing situations, your decisions should be based on your circumstances and financial goals. However, there are some basic pros and cons that apply to fixed rates that you should consider.![]()
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The biggest benefit of a fixed rate, is knowing exactly what your repayments will be for a set period - usually one to five years. This can be a real advantage if you are considering a career change, starting or expanding a family or have kids moving into private education, because it can ease the stress of budgeting.![]()
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On the downside, fixed rate loans tend to be more restrictive than variable ones. You usually can't make additional payments, plus lenders generally charge high break fees if you want to exit the loan during the fixed period.![]()
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If you want to tap into the benefits of both a fixed and a variable rate, consider splitting your loan so a portion of your debt is exposed to shifts in official rates - up or down - and the rest is locked into a set rate.![]()
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With official interest rates sitting at affordable levels and question marks hanging over which way they will head over the next 12 months, it's worth chatting with your local Mortgage Broker about fixed rates and what the market has to offer. It may be just the move to help you face the future with some certainty.
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Contact
If you would like further information please use the form below
Disclosure
Credit services provided by Credit Representatives of: Mortgage Australia Group Pty Ltd, Australian Credit Licence 377294
Find Us
We are located in Sydney, servicing any clients around Australia