LIFT LENDING – MORTGAGE BROKERS
01
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!
02
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.
03
Our Team
Sandra
Specialist Mortgage Broker / Partner
Peter
Partner
04
Testimonials
05
Latest News
News from our social media feed
Page likes: 39
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
Switching home loans could help pay down your mortgage sooner, providing you are refinancing for the right reasons and understand what�s involved. Here�s our guide to refinancing to help you make the right move when the time comes.Know the costs:Paying 0.5 per cent less per annum on a $250,000 principal-and-interest mortgage could save you around $23,000 over the life of a 25-year loan. That�s a sizeable chunk of change back in your pocket over the long term, but there are usually up-front costs associated with switching loans, especially if moving to a new lender.Know the costs of exiting your current mortgage loan before switching. Depending on the type of variable rate loan you have, the lender may apply fees if you choose to bow out. If you are on a fixed rate loan, a cost will usually apply when paid ahead of the agreed timeframe.You should also factor in any set-up costs for your new loan, which can be several hundred dollars, and any ongoing account fees.Only once you have factored in all of the associated costs will you be able to assess whether you gain financially by refinancing, and that�s where we can help you make the right decision.Compare products and service:A lower interest rate is a great reason to switch but it shouldn�t be the only deciding factor. Make sure the new loan is flexible enough to meet your needs and help you get ahead as quickly as possible. Some benefits to consider:Can you make fortnightly repayments? You could pay off your loan quicker making payments every two weeks instead of monthly.Can you make lump sum payments? Any extra repayments above and beyond your regular schedule will shave dollars and time off your loan.Does the new loan offer a redraw facility? It�s great to stash extra cash in your mortgage to pay it down quicker but if you think you may need it back at some point, make sure your new loan lets you access those excess funds.To fix or not to fix? We�re still enjoying low interest rates on the back of the historic lows the Reserve Bank of Australia cash rate is at, but make sure with any change you consider you have some wriggle room for if rates do rise. Make sure you�re future�proofing at every turn.What features are important to you and think about the ones you could do without. Why pay for the bells and whistles attached to a loan if you don�t use them? Different features when it comes to technology, service and availability rank differently for everyone, so figure out what�s important to you and we�ll help you match it with the right product and the right lender.Working with us to sharpen the pencil. Just one of the benefits of having us on side when it comes to your finance is our ability to work with the right lenders on the right price when it comes to things like your rate and your ongoing fees.Switch to save:Many borrowers refinance to consolidate debts, bundling credit card balances, personal loans or car payments into their mortgage, which usually carries a much lower interest rate. The benefit is lower minimum payments on your debts overall, which can be a benefit for cash flow. But that doesn�t mean you are saving on your home loan. Try to make the most of the lower rate to knock down the total debt quicker so you are not simply adding to the duration of your mortgage. And make sure you cancel any credit cards once you have transferred the balances into your mortgage so you are not tempted to rack up more debt.Direct your debits:If you switch to a new loan, make sure you also switch any direct payments and debits. It�s easy to lose track of what�s being paid, and how and when. Run through the most recent three months of statements for your original loan to identify any direct payments, and notify the biller as soon as possible so you don�t jeopardise your credit rating. You should also give your employer your new account details if your wages are paid directly into your mortgage.Check your borrowing power:One of the biggest oversights borrowers can make when shopping for the right home loan deal is their current financial situation. Has it changed since you took out your original loan? If the answer is yes, and it�s not for the better, you may find your borrowing power has shrunk, which could limit your refinancing options.You may have: started a family and no longer have two full-time incomes; switched careers and now earn less; started your own business, creating a less regular income stream; accumulated other debt, such as credit cards or car finance; or eroded your credit rating through late payments. Any of these factors can impact your borrowing credentials, and may give you fewer bargaining chips than when you took out your original loan.Do a thorough assessment of your total income, expenses, outstanding debts and credit rating so you understand your true financial position before shopping around.Talk to your broker:Take the time and stress out of shopping for a new loan by letting us as your mortgage broker handle it for you. We have access to multiple lenders with multiple products, allowing us to cast a wider net than you probably can on your own to find a home loan deal that suits your needs and circumstances. Brokers can also often gain access to lenders who are happy to take on self-employed borrowers, or those who don�t advertise heavily to consumers, but still offer competitive home loans. The benefits of having us onside are numerous; and the reason that now more than 52 per cent of Australian borrowers use a mortgage broker to arrange their finance.
Choosing the right type of loan is the first step.The first step in getting a low cost loan is choosing the right type of loan.There are various types of home loans, all offering different rates and features:- Honeymoon and Intro Rate loans- Basic or "No Frills" loans- Standard Variable rate loans (usually good to avoid these in my opinion)- Fixed Rate loans- Equity and Line of Credit Loans- Offset Home Loans- Professional and Discount Home Loan packages- Bridging LoansFor more details read my guide to "Choosing the right loan". www.mortgageaustralia.com.au/email/files/choosingtherightloan.pdf
Have you considered a second residence on your property?Home owners looking to invest in a rental property without taking on significant debt are finding a solution in their own backyard. The granny flat is regaining popularity as a solution to tight rental markets, an ageing population and metropolitan land shortages, thanks to more relaxed legislation in some parts of Australia.Whether it's actually for granny, an adult child or an unrelated tenant, a second residence on your existing property can bring benefits, if you do your homework.Not just a room for rentDifferent states have different rules but generally granny flats:Can be built only on residential blocks 450 square metres or larger that are not strata title, subdivided or community title property.Must be owned by the same person(s) as the main dwelling.Can have no more than 60-70 square metres of living space (patios, verandas or carports can be additional).Can be attached to the primary dwelling or freestanding.Must have a separate entrance (even if attached to the main house).Regulations regarding construction and occupancy differ between states and territories, so do your homework before finalising plans. Planning rules can also vary among councils.Managing upHaving the grandparents close by has all sorts of family advantages, providing everyone gets along! One of the biggest perks, apart from having built-in baby- sitters, can be lightening the financial load for both the senior and junior parties.Often parents agree to cover the cost of building a granny flat as an affordable alternative for their retirement, while their child can benefit from increased value to their property and possibly a rental income further down the track.But don't assume a granny flat will instantly add value above and beyond its cost. Often the value is derived from the opportunity for an extra income to help pay down the mortgage on the primary residence faster. It will depend on the housing market in your area as to whether a second residence adds to the overall value of your property - another reason to do your homework.It's also important you get legal advice for your circumstances so if someone dies or has to go into care, or the younger family decides to sell, the financial implications are clear for everyone involved.Still in the nestA granny flat can be a win-win for parents whose adult children are still attached to the family home and all of its convenience. The separate residence gives both parties privacy, while the younger generation can get a taste of independent living and save on rent. Parents may have to set some clear boundaries with this option because, although the kids are at arm's length, they are still under your nose and may still need to abide by your house rules.Investing close to homeTaking the plunge into investment property can be daunting for home owners. With a granny flat, you can dip a toe without hefty debt and be positively geared from the get-go. For an investment of around $120,000 in a capital city, you are likely to reap $220-$330 a week in rent.Talk to local real estate agents to gauge the local rental market. Granny flats (either attached or detached) often appeal to single women who appreciate the extra security of someone else living on site or young people studying from out-of-town or overseas, especially if your residence comes fully furnished. You should also research whether a one or two-bedroom residence would be more rentable in your neighbourhood.Tax implicationsCapital gains tax (CGT) doesn't apply to your main residence, no matter how much it appreciates in value from when you buy to when you sell. You can even rent it out for six years, CGT-free, providing you don't claim another property as your main residence for that same period.However, the CGT exemption may no longer apply for part of your property when you add a granny flat, which means you may have to pay CGT when you sell up. The rules can be complex and a little blurry, and hinge around how the granny flat is used, so make sure you get independent, professional tax advice to fully understand the tax implications for your situation.Need extra money to fund the build?Talk to your broker if you are considering creating a second residence. It might be a good opportunity to review your home loan and find a deal to better suit your circumstances.
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.
06
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