Unlocking the Potential of Mortgage Refinancing

Posted on 19 October 2023 | by Allan Hall

Are you considering refinancing your mortgage but unsure whether it’s the right move for you?

When it comes to refinancing, it’s not just about securing a better interest rate; it’s a strategic financial decision that can have a significant impact on your financial well-being.

At Allan Hall Finance, we understand the intricacies of the mortgage market and are here to guide you through this journey. Here’s why you should consider reaching out to us when contemplating a mortgage refinance.

1. Interest Rate Matters

One of the most common reasons people explore mortgage refinancing is to secure a better interest rate. If you haven’t reviewed your current rate in the last 6-12 months, there’s a good chance you’re paying more than you should be. A lower interest rate can lead to substantial savings over the life of your loan.

2. Consolidating Debt

High-interest debts, such as credit cards, personal loans, or car loans, can take a toll on your finances. Refinancing your mortgage offers an opportunity to consolidate these high-interest facilities into a single, lower-interest loan. This not only simplifies your financial management but also reduces your overall interest expenses.

3. Adapting to Change

Your financial situation and goals are dynamic. If you’ve had your mortgage for a while, the equity in your property may have increased. Lenders often offer better terms to borrowers with higher equity. It might be the perfect time to tap into that equity for future investments or other financial needs.

4. Consider the Costs

While refinancing can be a great way to save money, it’s important to consider the costs involved. These typically include new lender application fees, valuation fees, discharge fees, break fees (if you’re on a fixed rate), and legal/settlement fees. Our experienced mortgage brokers at Allan Hall Finance can help you assess whether the potential savings outweigh these costs.

At Allan Hall Finance, we’re dedicated to helping you make informed decisions about your finances. We understand that each situation is unique, and the right refinancing strategy should align with your specific needs and goals.

Don’t let the complexities of refinancing hold you back from potentially improving your financial situation. Please reach out to Allan Hall Finance on 02 9981 2300 or [email protected] and let’s explore how refinancing can be a strategic move toward financial freedom.

Small business fees and charges rebate NSW

Posted on 16 June 2022 | by Allan Hall

Claim back up to $3,000 in fees

Apply by 24 June 2022 to ensure you can claim eligible fees and charges before the rebate closes on 30 June 2022.

APPLY ONLINE

If you’re a sole trader, the owner of a small business or a not-for-profit organisation in NSW, you may be eligible for a small business fees and charges rebate of $3,000.

This rebate helps businesses recover from the impacts of COVID-19 and encourages growth by reducing the cost of running a business. Eligible businesses or not-for-profits only need to apply for the rebate once, but can submit multiple claims until the full value of $3,000 is reached.

Funds can be used to offset the costs of eligible NSW and local government fees and charges due and paid from 1 March 2021. These include, but are not limited to:

food authority licences
liquor licences
tradesperson licences
event fees
outdoor seating fees
council rates
road user tolls for business use.

View the full list of eligible fees and charges. This list is updated regularly.

Employing businesses can claim 50% of the cost of COVID-19 rapid antigen tests (RATs) up to the full rebate value of $3,000 to help them assist their workers to test when required.

The rebate cannot be used for fines or penalties, fees and charges that have the key purpose of discouraging behaviours or inducing behaviour changes, Commonwealth government charges, rent on government premises, or taxes. See the guidelines for more information.

Note: If you’ve already registered for the rebate, you do not need to do anything – you will receive an automatic $1,000 increase to your rebate. Businesses newly registering will have a rebate of $3,000.

Eligible businesses and not-for-profit organisations have until 24 June 2022 to apply for the rebate. You can submit claims for eligible fees and charges until 30 June 2022.

Check eligibility and how to apply here »

CONTACT ALLAN HALL

Please be aware that there is a high level of scamming activity around COVID-19 rules and regulations and, in particular, grants and relief. These scams are increasingly sophisticated and many involve impersonation such that they may appear to come from legitimate advisors (such as Allan Hall).

At Allan Hall, we will never request money upfront, deposits, transfers to personal accounts, payments via gift cards or other unexpected or unusual payment methods. If in any doubt, contact us via phone before taking actions that appear to be at the request of Allan Hall.

Cost pressure continues to impact business

Posted on 13 June 2022 | by Allan Hall

Australian Bureau of Statistics survey findings

Over one-third of all businesses expect to increase the price of their goods or services over the next three months by more than usual, a similar result to March 2022, according to data released by the Australian Bureau of Statistics (ABS).

ABS Head of Industry Statistics, John Shepherd, said: “Most of these businesses were finding that increases in the cost of products and services and fuel and / or energy costs were leading factors for planned price increases.”

The survey results also showed nearly half of all businesses have no plans to increase their prices over the next three months.

Of these businesses, nearly half said it was to retain customers and 46% said they had fixed-price contracts in place.

The results also provided information about planned capital expenditure over the next three months. Almost one in five businesses have planned capital expenditure in May 2022, consistent with findings in May 2021.

Nearly half of businesses planning capital expenditure indicated it would be higher than what is usual for this time of year, fewer than a year ago when 59% planned for higher expenditure.

The biggest Influencing factors on whether businesses were planning for capital expenditure were uncertainty about the future state of the economy and supply chain disruptions.

CONTACT ALLAN HALL