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
We have all heard of credit reporting, but have you heard of credit scoring?![]()
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Your credit file is one of your most important financial assets. Safeguarding this file is an important part of the finance application process.![]()
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Your credit file contains![]()
- credit applications![]()
- overdue credit accounts![]()
- payment defaults![]()
- clearouts (as a missing debtor)![]()
- commercial credit information![]()
- public record information.![]()
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You will have a credit score calculated from your credit file.![]()
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Did you know that a score of less than 500 will severely affect your ability to gain finance from many lenders?![]()
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Read our one page guide - "Keeping Score" - to find out more. www.mortgageaustralia.com.au/email/files/keepingscore.pdf
Competition among lenders for home loans remains steep but borrowers may still be missing out on great deals and important information that could save them thousands of dollars.![]()
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1. YOU CAN SET UP A LINE OF CREDIT TO HELP FUND YOUR INVESTMENT PROPERTY![]()
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If you are negative gearing an investment property, you will have a shortfall between your costs and rental earnings. You can fund this gap with a line of credit (LOC) product using equity in your home or another property.![]()
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Say you have a gap of about $500 each month for your investment property, including interest and other costs, such as repairs and rates. You could set up a LOC for $20,000 to fund these expenses for a period of time, which may give you a little more financial breathing room. How long the LOC holds up will depend on interest rate fluctuations and your rental costs.![]()
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Like interest on your primary investment loan, the interest on this LOC is tax deductible, providing its sole use is to cover your investment expenses.![]()
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One caveat: this strategy works providing there is capital growth in your investment property over the same period, otherwise you are eating into your capital gain.![]()
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You also need to have some fiscal discipline and not dip into the LOC for non-investment related expenses, such as holidays.![]()
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While lenders will be able to set this structure up quite easily, they are not likely to offer it up front as part of your investment loan. Talk to your broker and financial advisor about whether this strategy is a smart option for you.![]()
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2. PEOPLE WITH POOR CREDIT RATINGS CAN STILL GET HOME LOANS![]()
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While it's true a poor financial record will probably make it harder for you to land a loan, the doors may not be closed. Lending criteria has tightened in the wake of the global financial crisis but there are still plenty of loans up for grabs for those with a blemished track record or little financial backing.![]()
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Be prepared, however, to pay a higher interest rate than the standard offering. A Mortgage Broker will be able to help you find loans with less stringent criteria, often labelled non-conforming loans, and will help negotiate with the lender on your behalf. ![]()
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You should also do a budget to ensure you are able to make any repayments, lest you end up adding to your woes.![]()
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3. THERE ARE WAYS TO AVOID LENDER'S MORTGAGE INSURANCE IF YOU DON'T HAVE A 20 PER CENT DEPOSIT![]()
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Lender's Mortgage Insurance (LMI) is a one-off payment by the borrower when a loan exceeds 80 per cent of the property's value. It covers the lender's risk if the borrower defaults, but does not cover any loss by the borrower.![]()
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LMI can be a painful hit to the hip pocket, often running to several thousands of dollars, especially after a home buyer has scraped together the minimum deposit.![]()
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One alternative to paying LMI if you have less than a 20 per cent deposit is to secure a guarantor to cover the extra stretch.![]()
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A guarantor is usually a family member who is willing to put forward their property as security. One of the common myths that can scare family off is that the guarantor is then responsible for the entire loan. Not true. They only need to guarantee any amount beyond the 80 per cent loan-to-value ratio (LVR). Although it's a good idea for a guarantor to seek both financial and legal advice before committing.![]()
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The advantage of securing additional funding through a guarantor is that it simply gets tacked onto your loan so you can repay it over time, rather than forking out up front for LMI.![]()
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The key before you make any big decisions about home finance is to have all the facts at your fingertips. Your broker will be able to compare the products and options that are out there and size up which arrangement will work for you and your circumstances.![]()
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4. YOU HAVE FREEDOM OF CHOICE![]()
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Most lenders will pitch one or two loan products to customers. But that's a tiny fraction of the number of loans available in Australia. If you want to get a grasp of the wide variety of products out there, consider a mortgage broker.![]()
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A mortgage broker works for you, not the lender, and can help you tap this vast vein and find the loan that is best suited to your needs.![]()
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Talk to your broker about your financial circumstances and goals so they have as much information as possible to determine the best product solution for you.
Renovate or Evacuate? The pros and cons of renovating your home to sell.![]()
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So, you've decided it's time to sell your property. Perhaps your family has grown and everyone needs some space. Or maybe the kids have left the nest and you're ready for less maintenance and more travel.![]()
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You want to get the maximum price for your property with minimum fuss. But how much work should you do to prepare your home for sale?![]()
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If you like to watch a lot of DIY shows, you might have always dreamed of doing your own renovation rescue, and raking in the profits. But how much is too much to spend? Does it really mean a better selling price if you invest your life savings in a new kitchen?![]()
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Before you run down to the hardware store, let's look at the pros and cons...![]()
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Pro - Your property will appeal to people who don't want to renovate - such as families and professional couples.![]()
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Con - Your property will not appeal to buyers looking for a project of their own, and you could alienate these potential buyers.![]()
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Pro - You will add value to the property and take advantage of the profits, rather than leaving someone else to reap the rewards.![]()
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Con - The whole thing could backfire and you could spend loads on renovating without making much on the sale of the property.![]()
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Pro - Renovating could give you a competitive edge when there are similar properties for sale in the area.![]()
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Con - Buyers might not love your purple feature walls as much as you thought they would, and your taste could drive them away.![]()
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Pro - It might be just plain necessary to do some work before you can sell your property, depending on the condition.![]()
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Con - Renovating can be a real pain in the proverbial - are you ready for mess, stress and lots of aching muscles?![]()
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So how do you decide? There's no simple answer here, I'm sorry to disappoint you! If the pros and cons have your head spinning, try speaking with a few real estate agents. They should be able to give you an idea of what work should be done to achieve the price you want.
How to negotiate on price and knock out the competition:![]()
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All's fair in love and war, and the same might be said for negotiating with real estate agents. ![]()
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Whilst you want to get the best possible deal on your purchase, the agent is responsible for getting the best possible price for their client - the vendor.![]()
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Depending on how long you have been looking, you might be tempted to just pay the asking price to free up your Saturday mornings again. ![]()
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But just think - how much sooner could you pay your loan off if you saved tens of thousands on the purchase price?![]()
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If you want to get the best deal on your property purchase, try these 6 tips:![]()
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Focus on positives all around.The best way to negotiate is for every party to feel like they won the game in some way.![]()
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Communicate clearly and develop a rapport with the selling agent. Don't try to pick holes in the property.![]()
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Do your homework. If you want to be able to negotiate on price, you need to have a good idea of what similar properties in the area have sold for in the past couple of months. You should walk through plenty of open houses and keep a close eye on the sold results for your area. (If the selling agent offers to give you a list of sold results, accept politely but do your own research because they will probably choose the highest prices to help in their negotiation with you).![]()
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Don't try to buy outside of your price range. If a property is advertised at $500k to $550k, and your budget is $450k, don't waste your time.You will only destroy your credibility if the right property comes up with that selling agent in the future.![]()
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Try to find out what the vendor's motivation is for selling. If they need a quick sale, or if they require a certain settlement period, this could help you to negotiate a deal that works for everyone.By including something in your offer that sweetens the deal, this could put you ahead of other buyers in the race.![]()
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Timing is everything. Some would advise that it's best to make the selling agent chase you as much as possible. But depending on the area, you might have a win by putting your offer in early. In areas with slow property sales, a vendor might be shocked to receive an offer in the first few days on the market.If you make your offer valid for only a day or two, the vendor will need to decide whether they wait and hope that someone else will come along, or whether they accept your offer for a quick sale.
How to help your children without losing everything...![]()
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When your children were born, you had so many hopes and dreams for their future. You imagined a life filled with happiness and success. From day one, you set about helping them to achieve their goals, everything from learning their first words, to getting a job.![]()
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But for many parents, there comes a time when you might be asked to make a decision that could be of great benefit to your child, and very risky for you.![]()
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Guarantor Loans involve using the equity in your own home in order to secure the loan of a family member. Parents who agree to act as a guarantor for their child, are effectively putting their home up as security, and agreeing to cover any amounts that their child might be unable to pay in the future.![]()
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These sorts of loans are very helpful to first home buyers, because they allow individuals to borrow 100% of the purchase price or more, using the equity in their family member's home as a kind of insurance.![]()
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Unfortunately, many parents don't understand the weight of this decision, and the conditions that they will be agreeing to if they sign the loan. Some parents feel pressured to help out and don't take the time to consider their options.![]()
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If you do want to enter into this sort of arrangement, there are a few things you can do to protect yourself:![]()
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Seek independent legal advice before you agree to anything. It's best to address your concerns with a professional before an offer is made on a property. This will avoid a tricky situation for your child if you decide not to act as guarantor and they're unable to settle.![]()
Educate yourself about your responsibilities as guarantor so that you can make an informed decision.![]()
Meet separately with your mortgage broker or lender so that you can ask plenty of questions without feeling pressured to sign.![]()
Be honest with yourself about whether your child is ready for the responsibility of a mortgage. You know more than the lender does about their financial habits, and it's in your best interests to be a little bit sceptical. After all, you will ultimately be responsible for any amounts that they can't pay, for whatever reason.![]()
Plan for the worst, and work out if you can afford to service the loan if something unexpected happens and your child becomes unable to make their repayments.![]()
Insist on insurance to cover against illness, injury or sudden job loss.![]()
It's also worth considering all of the alternatives before you commit to act as guarantor. Sometimes a monetary gift to cover the deposit is equally helpful, and less risky for everyone involved. After all, you want to be able to enjoy your retirement in style!
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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