Investment loan Archives

Getting a Home Loan as a Small Business Owner

Posted on May 28, 2020May 28, 2020 by Uniik Finance

Getting a home loan is already difficult enough but getting a home loan as a small business owner is even harder. Lenders like to see regular amounts of money coming in as it makes them feel less at risk. When you run a business for living your income can be anything but steady as its directly tied to the ebbs and flows of your business. However, there are some measures you can take to ensure that your home loan application results in a swift and smooth approval.

Have All Your Documents Ready

Your lender will need to see valid proof of your income from the last two years of financial documents. This can include personal and business tax returns, financial statements and a notice of assessment from the Australian Tax Office. Your lender then uses this to assess how well you will be able to service the loan based on your known taxable income.

Get in Touch with an Accountant

It’s possible you may be underselling how well your business is performing. A good accountant will ensure your financial records are accurate reflections of your business’s performance. Any unseen costs or changes in income can be confirmed with a letter from a qualified accountant to your lender.

Work with a Mortgage Broker

A mortgage broker will help you find the right home loan that suits you and your situation. Importantly, they will also negotiate with a lender for you so that any issues that might be an obstacle for approval will be addressed by the mortgage broker.

While applying for a home loan as a small business owner may be difficult, completing these steps will make the process a little easier.

If you would like to learn more about applying for a home loan as a small business owner, please get in touch with us today.

4 signs it’s time to move neighborhoods

Posted on March 6, 2020March 6, 2020 by Uniik Finance

Moving can be a stressful experience, which is why many Australians avoid doing it as much as possible. However, certain factors can arise that make it a good time to move on to another neighbourhood, including rising housing prices, bad neighbours, expanding your family, or avoiding a long commute.

While making the decision to pack up and move is never easy, consider these four signs that it’s time to move neighbourhoods.

Rising prices

Certain parts of Australia have very high costs of living. For example, in Sydney – one of the most expensive cities to live in globally – a one-bedroom apartment outside of the city centre will likely cost you at least $1,624.22 a month, according to Finder. The same apartment in Melbourne would be somewhere around $1,200.

While these numbers aren’t the highest in the world, they are likely to keep rising. And larger, single-family homes in these areas would likely cost a lot more. If you see your neighbourhood growing, this probably means that housing prices will start to rise. You may want to consider moving to a neighbourhood that will remain steady, so your rent doesn’t skyrocket from one year to the next.

Long commute

Perhaps you’ve got a new job that you love, but it’s much farther away from home, causing you to have hours-long commute. Consider whether or not you will be staying at this job long term, and whether it would add a lot more time to your day to live closer to work.

If you have a family or live with a partner or spouse, consider moving somewhere that is central to both of your jobs or to your children’s school. You don’t want to sacrifice two or more hours per day just commuting. There are likely better options out there.

Bad neighbours

Unfortunately, there are going to be bad neighbours in almost any neighbourhood you choose. But you know it is time to move when these neighbours start causing you stress or making you frustrated.

About a fifth of Australians admits that a recent move was at least in part due to bad neighbours, according to research from ING Direct. Feelings of resentment can easily build up over time, caused by loud music late at night, stomping around in the floor above you, or even more serious offences like theft or verbal abuse.

Expanding your family

It may be time for you to give up your one or two-bedroom apartment downtown and move to a larger space a bit farther from the city centre. Your family may prefer a large outdoor space, an extra bedroom, or peace and quiet over a quick walk downtown.

Consider the needs of your whole family when deciding whether you should move neighbourhoods.

If you are considering a move and would like to know your home loan options, contact our team today.

How You Can Fund Home Renovations

Posted on March 6, 2020March 6, 2020 by Uniik Finance

Making renovations on your home can be both exciting and exhausting. Whether you are adding a spare room or sharpening the look of your kitchen it is rewarding to see the transformation. That is why we have made a list of ways to fund your renovations so you can focus more on the fun stuff.

Refinancing Your Existing Home Loan

In order to acquire the extra funds, you need to be able to renovate your home you could refinance your existing home loan and unlock your equity. If there are no fees associated with refinancing, you could save yourself thousands of dollars by finding a loan with a lower interest rate.

Applying for a Personal Loan

For smaller renovations, a personal loan is a worthwhile choice given how quickly the money is available to be used. Once you are approved, you get a simple lump sum deposited into your account and you can begin your renovations. It is important to keep in mind that interest rates for personal loans can be higher than a traditional home loan and you will need to know the cost of your renovations before you apply.

Applying for a Construction Loan

Another choice to consider is a construction loan, which takes into account the final value of your home after renovation. A construction loan is usually paid in 5 increments, meaning you will receive payment after work has been completed for each stage of the build. This reduces the risk for both you and the lender and ensures you don’t get in large amounts of debt unnecessarily.

All these options are viable ways of funding your renovation and each come with their own advantages.

If you would like to learn more about which renovation loan choice is ideal for you, get in touch with us today.

Hans is the most passionate and dedicated person to his work that I have ever had the wonderful opportunity to meet. He strives above and beyond to achieve the best possible outcome for his clients. He always finds the time to make himself available without hesitation and his bubbly personality and exciting nature will bring a smile to your face

YOLANDA christodoulou

I've had the pleasure of using Uniik Finance for many of my purchases, Hans' is always fantastic. He knows the business very well, he's very thorough and diligent to make sure a successful loan and settlement. Highly recommended.

D Dang

What can I possibly say about Hans And my experience with him!
Extremely competitive ,Professional and efficient
I recently refinanced my home loans where Uniik finance who did all the hard work of finding the best possible loan for my circumstances , when I realised my interest rate had become really uncompetitive due to my old lender not passing through rate cuts and even increasing my rates by small bits here and there over the years. By getting Hans to look into my portfolio and moving me to another loan provider who was able to reduce my rate from well above 6% to just 3.82 %, which adds up to a lot of dollars saved every year. The initial application with with Uniik finance was very easy.
There was no hassle and the time involved was well worth the savings!
Hans has been great to deal with, both through the application and with day to day stuff.Thank you again
Highly recommended.

Mena Abdelmessih