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
(opens in a new tab)www.liftlending.com.au Provides mortgage and lending product support to meet personal and investme
Know your rights as a borrower.As a borrower, it pays to know your rights - and don't be afraid to exercise them!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:The right to know what you're in forThe 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.The right to know your interest rateYour lender is required to communicate interest rate changes to you in advance - either directly, or by putting an advertisement in a major newspaper.The right to know your repayment amountThe lender must provide you with written notice at least 20 days before your interest rate is due to increase.The right to a copy of your loan statementA 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.The right to pay out your loan at any timeThere 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.The right to terminate your contract before the funds are drawn downYou have the right to pull out of the transaction if the funds have not yet been drawn down for settlement to take place.The right to get assistance in times of financial hardshipThere 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.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: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.
Do you wish that your superannuation was growing as quickly as the value of your home?Did you know that you might be able to use your superannuation to invest in real estate? Many Australians have started very lucrative property portfolios with a single purchase using their superannuation.But how does it work?Here is how to invest in property via a Self Managed Superannuation Fund (SMSF)Step 1 - Set it upThe first step is to set up your Self-Managed Super Fund (SMSF), which will take some time and you will need to consult your Accountant or Financial Planner to get their input.This option doesn't suit everyone so it's vital to make sure that investing in property through SMSF is the best fit for your personal situation.Step 2 - Roll over your existing superIf you need to roll your super over into a SMSF, this could take a month or so. Don't go looking for an investment property to buy until you have your SMSF set up with the funds rolled over.Step 3 - Look into TrustsAsk your Accountant or Financial Planner about setting up a trust before you take out a loan for the investment property.The idea is to set things up so that the loan is only secured against the investment property, rather than throwing your family home into the mix.This way, if something unexpected happens and you can't repay your investment loan, you won't lose your own home too.Step 4 - Know your limitsUsually when you borrow through a SMSF, the maximum loan amount is 80% of the purchase price, and remember that there will also be purchase costs involved, just like any other property transaction.Step 5 - Go shoppingNow for the fun part - looking for a property to purchase.Usually you can choose any sort of residential property to invest in, but make sure you spend plenty of time researching your options, considering the growth that you want to achieve and the sort of tenant you want to attract.Make sure you shop with your ideal tenant in mind. (Don't look for single bedroom apartments near a university if you only want to rent to a retired couple - you might be barking up the wrong tree!)Step 6 - Remember the rulesThere are a couple of rules about investing in residential property through your SMSF.Generally speaking, you and your family members cannot live in the property. So if you thought it would be a good idea to purchase an investment as a home for your daughter, you might need to investigate other options.Secondly, you can maintain the property but you cannot improve it. There could be a few grey areas here (is painting consider improving or maintaining?) but obviously you won't be able to add a second level to the home, or replace the kitchen.
BUYER BEWARE THE BARGAINSLimited cash flow and equity mean many first-time property investors feel the need to chase down a bargain to enter the market. But, like most things in life, you usually get what you pay for, which � in the case of property � can mean unrealised returns or even losses. While there�s nothing wrong with paying less in the hope of making more, investors need to understand when a cheap property is truly a bargain and when they could be selling (or rather buying) themselves short.Here�s our guide to help investors actually get what they bargain for.Always ask �why�:There�s always a reason a property is selling cheap. Your job is to find out why.Some reasons are obvious � the property is on a main road or backs onto a railway line � but others may be less overt. There could be termite damage, rising damp or shifting foundations, which perhaps only a property inspection will reveal. While not irreparable, these can be big-ticket fixes and probably beyond your reach if you have limited funds.Other factors may be even more concealed. For example, a very small property with poorly placed sewer pipes that prevent extensions, a new flight path planned for overhead or a property in a high-risk flood zone. These are variables you can�t control and should probably be avoided.The best way to avoid being sold a lemon is to do your research, not just on the property for sale but on others in the vicinity. What�s the average price for similar properties in the same suburb? And what do they have that yours doesn�t, or vice versa (as in the case of aircraft noise).That�s not to say all cheap properties have sinister secrets. Some are under-priced because the owners need a quick sale or the property is part of a deceased estate. Keep in mind, though, these sorts of genuine bargains tend to get snapped up quick, so have your suburb research on hand to be in a position to pounce.What can and can�t be fixed:Even in the property market there are lemons that can be turned into lemonade. It�s a matter of knowing which lemons are worth squeezing, which means accepting what can and can�t be fixed.What you can fix:- Minor noise (with insulation and double glazing). - Interior design.- Configuration of rooms (turning a study into a bedroom or vice versa).- Storage.- Natural lighting in a house (add a skylight, windows or glass doors).- Under-cover parking for a house (add a car port). - Landscaping.What you can�t fix:Location.- Land zoning and covenants (restrictions on height, building type etc). - Land size.- Traffic.- Infrastructure that imposes on your property (e.g. power poles).- Flight paths.- Aspect (which way the property faces).- Natural lighting in a unit (you won�t be allowed to add windows). - Unit block exterior (although you can try and influence the body corporate).Just because a negative, such as traffic, is beyond your control, the property may still be worth pursuing at the right price. You just need to accept it may be harder to rent and harder to sell, and will probably take longer than desired to increase in value. One of the biggest mistakes investors make when they purchase cheap properties with �unfixables� is to over-capitalise on renovations (see our story in this edition on this very subject). There can be a temptation to compensate on what can�t be fixed by over-investing in what can. If you decide to invest in a bargain that has some obvious drawbacks, do your homework on which renovations will give you the best return on investment.Short-term pain, long-term gain:As with all investments, you need to weigh up your personal finance goals and individual circumstances before settling on a property. For many investors, a bargain buy (even with some of the unfixables) is going to be their best opportunity to gain a foothold in the market. It�s worth considering, though, whether settling for something cheaper is the best strategy in the longer term. A slightly more expensive property in a quality suburb with higher growth potential could be worth the extra stretch up front if the capital gain over time far outstrips a bargain buy elsewhere.Buyers should also be wary of towns or suburbs billed as the �next big thing�. Where there�s a boom, there can also be a bust. Towns built on the back of mining are key examples of property markets that can lure investors with promises of high rental returns. But if the mine dries up or goes belly up due to external factors, you could be left with a property that is worth much less than what you paid with few prospects of tenants.The key to taking a longer term view is patience, and ensuring you are in a financial position to stick to your plan, especially if it means holding onto a property for 10 or more years to realise its growth potential.Get expert advice:Your broker can help you assess your individual circumstances to determine what you can afford. Everyone�s circumstances are unique so it�s important your first investment takes into account your earnings now and into the future, plus any significant lifestyle changes that might affect your ability to service a loan. Are you planning to start a family or travel? Do you have kids in private education? It�s important to weigh up all of these factors when considering your financial future.
Over 55% of Australian borrowers (including 65% of first home buyers) choose to use mortgage brokers to secure their loans. www.afgonline.com.au/broker/keep-competition-alive/
We all know that interest rates are cyclical and that when rates go down they will eventually go up.As a result, lenders have been assessing loan applications on the ability of borrowers to make repayments at interest rates approximately 2% higher than those currently available. While lenders have been assessing your ability to make repayments at a higher interest rate, what is the reality of the fi nancial impact of your regular loan repayments?To make sure you are ready, click here to read my "What goes down, must come up" article. www.mortgageaustralia.com.au/email/files/whatgoesdownmustgoup.pdf
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Credit services provided by Credit Representatives of: Mortgage Australia Group Pty Ltd, Australian Credit Licence 377294
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We are located in Sydney, servicing any clients around Australia