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
How many ways can you buy a swimming pool?Question: How many ways can you buy a swimming pool?Answer: At least 8 different ways that I can think of.And not all of those ways may be suitable for everyone - here is my list.Not everyone wants a swimming pool either. But perhaps a new car, maybe a boat, a motorbike or a decent holiday? A caravan or a new garage? An aeroplane even?Doesn't really matter what it is, but if you need to spend a serious amount of money, it may be worth looking at some of the things you can do with your home loan to facilitate your new purchase. You see, 6 of those 8 different ways I mentioned actually involve your home loan, so it's probably worth a look first, just to make sure.That's where I can help. It doesn't cost anything to check out what would work for you, and then you can actually make an informed choice.The least I can do is point you in the right direction and the privacy act ensures our conversation is entirely confidential.What do you think?Contact me and we'll see where you stand. www.mortgageaustralia.com.au/email/files/8waystobuythatpool.pdf
How to get a loan when it all seems hopeless?Jason was 28 when he decided to start looking for his first home. A builder by trade - he had been working for the same employer for over 8 years and he had substantial savings - enough to pay a 10% deposit and cover stamp duties. He usually paid the phone bills on time, and his credit card was barely ever used.In spite of all this, Jason was unable to get a loan through traditional lenders. The reason - a mistake from the past.Against the advice of his parents, he decided to help a previous girlfriend get car finance. She was only working a couple of days a week on a casual basis, and the finance company wouldn't approve her loan. Always the nice guy, Jason offered to put the car in his own name - and trusted his girlfriend to keep the repayments on track.When the relationship broke down a couple of years later, he was shocked to learn that no repayments had been made on the car for several months. To make matters worse, the news came from a grumpy middle-aged man who arrived early one morning trying to repossess the car.A few years on, Jason was growing increasingly frustrated in his search for a home loan. Finally, he found a Mortgage Broker who suggested a 'Non-conforming' loan. Although the interest rate wasn't brilliant, Jason was finally able to get his foot in the door. The lender also offered to review the loan conditions after 12 months, if all of the repayments were made on schedule.With the help of a non-conforming loan, Jason was able to realise his dream of home ownership, despite having a bad credit record.Non-conforming loans are designed for people who don't conform to the traditional criteria used by lenders to assess a loan. Some borrowers have a bad credit history, and others might be struggling to get approved because they just changed jobs. Sometimes, even people who have previously been declared bankrupt can still be approved for a non-conforming loan.Importantly, there is a big difference between 'Non-Conforming Loans' and 'Low-doc Loans'. While non-conforming loans are designed for people who have an imperfect credit history, low-doc loans are designed for the self-employed. Low-doc loans are often quite strict - borrowers usually need to have a 20% deposit, and a very healthy credit history to get approved.Lenders usually charge a much higher interest rate for non-conforming loans. The good news is, many lenders will agree to review your rate after a set amount of time, providing that you meet all of your repayments.Whilst it's never a good idea to take out a home loan if you can't afford to repay it, non-conforming loans can be very helpful when your financial position is good now - but your past credit mistakes continue to haunt you.
"With fewer first buyers taking out home loans than a decade ago, one might have concerns for the future of the Great Australian Dream.Just because you can�t afford what or where you want to buy first up, doesn�t mean you should forego property altogether. The longer you leave getting into the market, the harder it may become. Property prices may increase beyond your reach or the cost of living in general may climb, making it harder to save for a deposit.While you may not be able to afford your dream home now, you can still take steps to help you afford it in the future.Be prepared to compromiseWhile location remains the main mantra when it comes to property, many buyers may have to compromise on where they stake their first claim.Rather than honing in on houses, consider an apartment, or even older units, which often have bigger floorplans and greater scope for renovating and redecorating.If scoping inner-city or even middle-ring suburbs, set your sights on outer suburbs with greater affordability. You may have to commute further if you work in a CBD, and it may take longer to get to the beach on a hot summer�s day, but living on the urban edge can have lifestyle advantages.You can escape quicker for a tree change, with many outer suburbs bordering bushland or national parks.Amenities and infrastructure, such as shopping centres and hospitals, are often newer on the city fringe.Your area is likely to be full of other first-home buyers, which often include young couples and young families, bringing energy and a greater sense of community to a neighbourhood.Buying in newer, outer suburbs also means newer houses or apartments, which usually means fewer maintenance and repair costs, and more contemporary building materials, d�cor and landscaping.You may find that once you are in the market and have paid down some of your first mortgage, you are in a stronger financial position to revisit your original desired location.Make a moveIt�s a bold idea � and certainly not for everyone � but is the quest for your first property an opportunity to live in a totally new city or region?Apparently around one in three of us was prepared to pack up and move interstate to improve our financial lot in 2012, if the ING DIRECT Financial Wellbeing Index of that year was anything to go by.The reality is around 300,000 to 350,000 Australians move interstate each year4, according to the latest available data from the Australian Bureau of Statistics. While many may move for family or work reasons, first home buyers looking for more affordable digs could also be part of this migration.Before you call the removalists consider:Financial security � can you secure employment before you make the move?Lifestyle � what local hobbies, amenities and attractions will help you have a fulfilling personal life?Family � if you have a partner and/or kids, will they be happy in the new location?On the flipside, relocating to a new state, city or town is a potentially exciting opportunity to experience new people and places, and pocket some savings along the way.Become a rent-investorThere�s no rule that says you have to live in your first property. Many first home buyers are challenging convention by rent-investing � renting where they want to live and buying an investment property in a more affordable location.The objective for these renters is to buy where they can afford to get a foothold on the property ladder. That could be another suburb in the same city or a town in an entirely different state.As with any investment, the key is to choose a property on financial merit, not emotion. Are you looking for capital gain over time or high rental yields right away?The investment property can be positively geared, where the rent exceeds the cost of the mortgage and upkeep to give you a profit, or negatively geared, where the rental income is less than the cost of owning and managing the property, creating a tax deduction.Seek legal and financial advice so you are well informed about how renting and taking on an investment property impacts your finances and tax obligations.Maximise incentivesVarious grants and stamp duty concessions are offered in each state and territory to give first home buyers a leg up. As at February 2017, here�s a snapshot of what�s available and where, do bear in mind that things could change, so double check before you commit.For more information, visit www.firsthome.gov.au" www.firsthome.gov.au
Top 12 Tips for Paying Your Home Loan Sooner.We all know the most common ones: Pay off quicklyPay fortnightly instead of monthlyMake payments at a higher interest rate amountConsolidate your debtsAbandon minor luxuriesSwitch to a new loan or lender with a more suitable rate and package.What about some others that we often don't think about? 7. Use your offset account to your advantageInstead of putting your spare cash into an interest bearing account where you earn very little interest and pay tax on the interest you earn, transfer any spare money you have into your offset account. The additional cash works to offset the interest you are paying on your home loan. 8. Split your loanIf you are the type of borrower who worries about interest rates increasing but you don't want to be tied down by a fixed loan, a good compromise is a split loan. Split loans allow you to fix part of your home loan and set the balance of the loan with the variable rate of interest.Essentially this allows you more flexibility knowing part of your loan is safely fixed and won't move. If interest rates don't go up (or if they rise only slightly or slowly) then you have the flexibility of the variable portion of your loan and can pay that component off more quickly. 9. Use your equityIf you have made good progress by paying down your home loan, many lenders will allow you to use a portion of this equity for investment. Providing you can service the new debt, it is the most common strategy for wealth creation used in Australia. As long as you are being advised and guided by a reputable credit adviser or financial planner, this type of investment is usually a safe strategy to start planning your financial future. 10. Refinance and invest the differenceWhen you are fortunate enough to refinance and reduce your monthly repayments, rather than increasing your lifestyle or even paying down your mortgage, it is sometimes wise to invest the difference. We recommend you seek counsel and advice from a qualified finance specialist, like ourselves, before trying to figure it out yourself. Don't waste the opportunity by making mistakes. 11. Don't be afraid of alternate lenders with cheaper ratesThere are many second tier lenders who provide excellent products and rates competitive to the BIG 4. As the competition for business is at its all-time high, it makes lending a very interesting sector to be working in. With a strong property market and low interest rates, there are plenty of opportunities being provided by alternate lenders willing to take on traditional lenders with low fees and very competitive products.12. Don't set and forgetThere is always the temptation to let your mortgage roll along, make your repayments as they fall due and think as little about it as possible. This attitude could be your biggest mistake. It is important to keep yourself up to date with the property and finance market. We encourage all of our clients to have an annual review with us to ensure we have you in the best financial situation available at the current time. Rates change, new products are introduced and changes in the finance market itself may allow you to seize an opportunity or negotiate a better deal. Stay informed and ahead of the game by reading our updates and committing to regular finance reviews.
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.1. YOU CAN SET UP A LINE OF CREDIT TO HELP FUND YOUR INVESTMENT PROPERTYIf 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.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.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.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.You also need to have some fiscal discipline and not dip into the LOC for non-investment related expenses, such as holidays.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.2. PEOPLE WITH POOR CREDIT RATINGS CAN STILL GET HOME LOANSWhile 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.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. You should also do a budget to ensure you are able to make any repayments, lest you end up adding to your woes.3. THERE ARE WAYS TO AVOID LENDER'S MORTGAGE INSURANCE IF YOU DON'T HAVE A 20 PER CENT DEPOSITLender'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.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.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.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.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.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.4. YOU HAVE FREEDOM OF CHOICEMost 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.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.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.
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Disclosure
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