Formal Finance

🏡 Could multi-gen living help you onto the property ladder? 🏡⁣
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Searches for “dual-occupancy” homes have skyrocketed 385% in the past year, according to PropTrack data. 📈⁣
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Searches for “dual-living” are up 100%. 📊⁣
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And interest in granny flats has jumped 30%. 🏠⁣
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DM us to find out how you and your family can team up for an affordable home. 👇⁣
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To find out more, DM us or contact Formal Finance on:

☎️ – 0409 383 838
💻 – [email protected]

🗞📰 𝗛𝗼𝘄 𝘁𝗼 𝗮𝘃𝗼𝗶𝗱 𝘁𝗵𝗶𝘀 𝗰𝗼𝗺𝗺𝗼𝗻 𝗵𝗼𝗺𝗲 𝗯𝘂𝘆𝗲𝗿 𝘁𝗿𝗮𝗽 📰🗞⁣⁣⁣⁣⁣⁣⁣
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Waiting for home prices to ‘bottom out’ before buying may seem like a smart strategy but it could work against you. Here are the risks of holding out and hoping for lower prices. ⚖️⁣⁣⁣
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https://formalfinance.com.au/knowledge-centre/f/how-to-avoid-this-common-home-buyer-trap

🏡 How much do you really need to buy a first home? 🏡⁣
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Long gone are the days when you needed to save up a full 20% deposit (plus extra for other expenses!).⁣
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These days, you could need a deposit of just 5%, or even 2% if you’re a single parent, to buy a first home. 💰⁣
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For a $700,000 first home, a 5% deposit is $35,000.⁣
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Better yet, you may also be eligible for stamp duty exemptions/concessions or first home buyer grants.⁣
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Don’t forget to factor in other upfront expenses though. ⚠️⁣
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Legal fees, home insurance, stamp duty, and furniture removalists can all add up. 📦⁣
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Need help crunching the numbers and figuring out how much you could borrow? That's our specialty. 👇⁣
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To find out more, DM us or contact Formal Finance on:

☎️ – 0409 383 838
💻 – [email protected]

🔁 A record number of Australians just refinanced their home loan 🔁⁣
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Looks like Australia is in the midst of a refinancing frenzy. ⁣
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The ABS says over 640,000 homeowners refinanced their home loan last year. ⁣
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That’s 73 loans refinanced every hour. ⏱️⁣
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Goes to show Aussie home owners are keeping their eyes on the ball when it comes to getting value out of their home loan. ⁣
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It’s also a cue to check in with us to see if your old loan still suits your needs. ⁣
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We’ll let you know if you could potentially save with a lower rate or improved loan features. 👇⁣
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To find out more, DM us or contact Formal Finance on:

☎️ – 0409 383 838
💻 – [email protected]

🗞📰 𝗚𝗿𝗲𝗮𝘁 𝗻𝗲𝘄𝘀 𝗳𝗼𝗿 𝗯𝘂𝘆𝗲𝗿𝘀: 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗹𝗶𝘀𝘁𝗶𝗻𝗴𝘀 𝘀𝗽𝗶𝗸𝗲, 𝗙𝗢𝗠𝗢 𝗱𝗶𝗮𝗹𝘀 𝗱𝗼𝘄𝗻 📰🗞⁣⁣⁣⁣⁣⁣⁣⁣
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Things are looking up for homebuyers. New listings are on the rise, and that can mean more choice and less FOMO pressure for buyers. Here’s how the shift in today’s market could benefit your homebuying plans. 🏡⁣⁣⁣⁣
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https://formalfinance.com.au/knowledge-centre/f/great-news-for-buyers-property-listings-spike-fomo-dials-down

🚩 Red flag habits that could hinder your home loan application 🚩⁣
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(Not so) fun fact: Lenders assess a borrower’s ‘character’ as part of a home loan application. ⁣
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It’s all about how responsibly you manage money and debts. 💳⁣
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Turns out 7 in 10 Aussies have red flag spending habits that could hurt their character check. ⁣
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Key red flags include spending on lottery tickets or scratchies, smokes or vapes, and even alcohol. ⁣
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Banks may comb through three months of bank statements to check out your spending habits. 🔍⁣
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What they’re looking for are spending patterns that could potentially derail your ability to make repayments. ⁣
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Talk to us for tips on getting your home loan application across the line. 👇⁣
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To find out more, DM us or contact Formal Finance on:

☎️ – 0409 383 838
💻 – [email protected]

📱 Gen Zs urged to skip influencer advice 📱⁣
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Here’s a worrying finding. ⁣
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Money watchdog, ASIC, says two-thirds of Gen Zs (18–28) are turning to social media for financial information and help. ⁣
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Trouble is, that ‘help’ isn’t always high quality or trustworthy. 😬⁣
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And ‘advice’ from influencers isn’t based on personal needs. ⁣
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Let’s not even get started on social media being a hunting ground for scammers. 🕵️‍♂️⁣
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Buying a home is one of life’s most important financial steps - which makes getting tailored support pivotal.⁣
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And that's what we can offer. 🤝⁣
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Contact us to explore some home loan options that have been researched and matched for your needs. 👇⁣
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To find out more, DM us or contact Formal Finance on:

☎️ – 0409 383 838
💻 – [email protected]

🗞📰 𝗟𝗲𝗻𝗱𝗲𝗿𝘀 𝗰𝘂𝘁 𝗿𝗮𝘁𝗲𝘀 𝗮𝘀 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝗼𝗻 𝗵𝗲𝗮𝘁𝘀 𝘂𝗽 📰🗞⁣⁣⁣⁣⁣⁣⁣⁣
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The RBA may have kept rates on hold in June, but a growing number of lenders have cut their home loan interest rates. This could be your sign to review your current loan. 🏡⁣⁣⁣⁣
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https://formalfinance.com.au/knowledge-centre/f/lenders-cut-rates-as-competition-heats-up

☕ 5% Deposit Scheme helps 300,000+ first home buyers ☕⁣
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Forget years of living on instant coffee and baked beans! You may not need a 20% deposit to buy your first home. ⁣
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The 5% Deposit Scheme has helped over 300,000 first home buyers get into the market with just a 5% deposit. 🏡⁣
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And because your loan is guaranteed by the government, you don’t pay lenders mortgage insurance. ⁣
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There are no waitlists. ⏳⁣
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No income limits. 💼⁣
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No place limits. 📍⁣
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And you’re free to buy an established home or build a new place. 🏗️⁣
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Talk to us about the 5% Deposit Scheme. It could be the helping hand that brings forward your home-buying plans. 👇⁣
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To find out more, DM us or contact Formal Finance on:

☎️ – 0409 383 838
💻 – [email protected]

😬 First home buyer regrets to avoid 😬⁣
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Here are the top regrets of first home buyers have about their mortgage, according to a survey by Money.com.au.⁣
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Paying too much in loan fees was the number one mistake. 💸⁣
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That’s followed by not having a loan with a competitive interest rate. 📉⁣
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Money.com.au found many first-time home buyers just apply for a loan with the first lender they come across. ⁣
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It’s only later they realise they have a loan that doesn’t suit their long-term needs. ⁣
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Skip the potential regrets. 🚫⁣
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Talk to us about a home loan that matches your needs, backed by a competitive rate. 👇⁣
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To find out more, DM us or contact Formal Finance on:

☎️ – 0409 383 838
💻 – [email protected]