Mitch Woods’ Post

10 Applications Lodged Last Week—Here’s How We Pulled It Off! Ten loan applications in one week used to mean late nights and weekend work. But not with Romelyn J. on our team! Her admin magic kept us running smoothly. Here’s where we placed our loans: ANZ x4: 3 Investment Refinances — 2-year fixed interest only rate at 5.79% + $2,000 cashback 1 Owner-Occupier Refinance — 2-year fixed P&I at 5.49% + $2,000 cashback CBA: 1 Investment Refinance + Cash Out — Higher valuation, taking advantage of director’s wages policy Westpac x2: 2 Investment Refinances — No LMI under 90% for doctors, refinancing from 3rd tier Macquarie: Refinance + Cash Out — Approved using accountant-prepared interim financials Bank of Melbourne: Investment Purchase — Clients preferred to stay with their current bank ME Bank: Refinance Investment P&I — Low 2-year fixed at 5.69%

Did you know...💡 That Westpac has a 'Lease Doc' offering, specifically designed for customers buying or refinancing commercial investment properties. Under this offering we do not require full evidence of personal income and debts: instead, we review the rental income and the strength of the tenant when assessing the loan! (This means less paperwork & forms for you!) The Brisi property market will continue to heat up leading into the 2032 Olympics - reach out to me and we can chat about your property investment gameplan📋 #Westpac #SME #businessbanking #Commercialpropertyinvestment #Brisbaneproperty

John Durie discusses the displacement of bank funding by private credit. This trend continues to allow investors to access attractive risk-adjusted returns. The operative phrase being 𝙧𝙞𝙨𝙠-𝙖𝙙𝙟𝙪𝙨𝙩𝙚𝙙. While returns can be high, investors must understand the underlying risk. Illustratively 10% p.a. is attractive as a headline return. However: - From a senior ranking & collateralised loan portfolio = 🥇risk-reward - From a high LVR related party loan = 🥉 risk-reward ------------------------------------------------------------------------ Rixon Capital manages a boutique asset-backed strategy focused on 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗽𝗿𝗲𝘀𝗲𝗿𝘃𝗮𝘁𝗶𝗼𝗻 and 𝗺𝗼𝗻𝘁𝗵𝗹𝘆 𝗶𝗻𝗰𝗼𝗺𝗲 that requires all lending to be first ranking, senior secured, and real asset collateralised (e.g. equipment, receivables). #privatecredit #privatedebt #privatewealth #investoreducation #SMSF #ausbiz #smsf The Australian Capital Brief Financial Standard Financial Advice Association Australia (FAAA) ausbiz Blair Murphy | Dallin Howes | Luke Howes | Shrikaanth B, CFA | Hessan Shah | Alan Butterfield | Justin Roberts

Lloyds Banking Group PLC (LSE:LLOY) profits declined in the fourth quarter of 2023 as it made a £450 million provision to cover potential costs of a motor finance probe, but the dividend was hiked 15% and a £2 billion share buyback is planned after a strong year.  The UK’s largest lender reported underlying pre-tax profits of £1.75 billion for the final quarter of the year, down 14% from the third quarter but in line with City estimates. With the provision made to cover the potential impact of the recently announced Financial Conduct Authority review into motor finance commission arrangements, total provisions were £675 million in the year, while impairments of £308 million were much lower than the £1.5 billion a year ago. More at #Proactive #ProactiveInvestors http://ow.ly/IRu1105jngO

🤔 Should you sit tight? Or buy a property now? 🤔⁣ ⁣ Great news! Some of our biggest banks - including NAB and Westpac - are expecting interest rates to fall later this year. 📉⁣ ⁣ So … should you buy your first home or an investment property now? Or hold out a little longer? 🙃⁣ ⁣ Sure, a drop in rates could boost your borrowing power. 💪⁣ ⁣ The catch is that lower rates could potentially stimulate home buying activity, possibly driving home prices higher. 📈⁣ ⁣ That’s why the saying goes: 'the ideal time to buy is when you’re ready to do so'. 🙌⁣ ⁣ And how do you know when you're ready to buy a home? 🏡⁣ ⁣ Well, one way is to come speak to us to find out how much you could borrow. 👇⁣ ⁣ To find out more, contact Twelve Grains Capital on: ☎ – 1800 807 620 💻 – projects@twelvegrainscapital.com #twelvegrainscapital #buildbetterbusiness #bespoke #specialistlending #privatelending #smeloans #commercialloans #refinance #homeloans #assetfinance #property #sydneyproperty #sydneyrealestate #australianbusiness #australianrealestate

Last chance to register for our Property "Unlocked" (Part 2) CPD webinar tomorrow with Aviva's Andrew Turner and John Macdonald DipPFS Cert CII (MP, ER). You'll learn: - What practical steps from a property perspective you can take to support your customers - Aviva’s property lending criteria, different property types, and the impacts these can have on valuations. Don't miss it 👉 https://lnkd.in/eW6-A7JG

That depends on who you ask: appraisers or lenders. AMCs have existed since the late 1960s, and in 2024, there are 332 AMCs in the U.S. According to www.housingwire.com, “Appraisers feel AMCs put pressure on the market by taking an increasing cut of appraisal fees, and AMCs have a tendency to select appraisers who are willing to work for relatively low fees.” In our opinion, the appraisal function is better managed by financial institutions when it is completed in-house. A couple of thoughts: - Keep a list of appraisers that the board has approved of directors. - When adding a new appraiser to the list, ask for appraisal samples and complete a comprehensive review. - Know your appraisers and their areas of expertise. By knowing what an appraisal firm does best, the financial institution can be assured of a quality appraisal by a qualified appraiser.  #BankAdvisors #Banking #Appraisals #Bankers #MidwestBankers #IllinoisBankers www.BankAdvisorsLtd.com

Lloyds Banking Group has reported an uptick in annual profits on the back of higher interest rates while setting aside £450m for an FCA motor finance probe. The group also announced it was planning an up to £2bn share buyback, which together with a 1.84p per share final dividend would see £3.8bn returned to shareholders. Britain’s largest domestic banking group – which owns Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows – posted a pretax profit of £7.5bn for 2023, up 57 per cent from £4.8bn in 2022 and an all-time high for the lender. Analysts had expected a figure of £7.4bn. The bank’s net interest income rose to £13.8bn in 2023, from £13.2bn in 2022. However, its net interest margin narrowed by 0.1 per cent to 2.98 per cent between the third and fourth quarters as the group faced pressure to offer savers better deals and interest rates have likely peaked. Read the full story here ⬇️ https://lnkd.in/e9-hbytj #banking #bank #lloyds #interestrates #annualreport #cityam

Hear from Nicola Haigh, Head of UK Real Estate & Housing at Lloyds Bank Business & Commercial highlighting the many challenges facing SME housing developers today and how Lloyds Bank are helping the sector by providing more flexible finance options. Watch the video now: https://lnkd.in/eFeEP4PM #PropertyWeek #InConversationWith #LloydsBank #finance

James Weir's article in The Australian Financial Review on the attractions & risks of private credit is timely given growing investor interest. A takeaway was the need to understand the risk underpinning attractive returns. 𝗗𝗲𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗽𝗿𝗲𝘀𝘀𝘂𝗿𝗲 "...𝘪𝘵𝘴 𝘱𝘰𝘱𝘶𝘭𝘢𝘳𝘪𝘵𝘺 𝘩𝘢𝘴 𝘥𝘳𝘢𝘸𝘯 𝘢 𝘭𝘰𝘵 𝘰𝘧 𝘯𝘦𝘸 𝘰𝘱𝘦𝘳𝘢𝘵𝘰𝘳𝘴, 𝘴𝘰𝘮𝘦 𝘰𝘧 𝘸𝘩𝘪𝘤𝘩 𝘢𝘳𝘦 𝘶𝘯𝘥𝘦𝘳 𝘱𝘳𝘦𝘴𝘴𝘶𝘳𝘦 𝘵𝘰 𝘨𝘦𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴’ 𝘮𝘰𝘯𝘦𝘺 𝘵𝘰 𝘸𝘰𝘳𝘬 𝘴𝘰 𝘢𝘳𝘦 𝘯𝘰𝘵 𝘢𝘴 𝘧𝘶𝘴𝘴𝘺 𝘢𝘣𝘰𝘶𝘵 𝘸𝘩𝘰 𝘵𝘩𝘦𝘺 𝘭𝘦𝘯𝘥 𝘵𝘰." 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 "𝘛𝘩𝘦 𝘰𝘵𝘩𝘦𝘳 𝘢𝘵𝘵𝘳𝘢𝘤𝘵𝘪𝘰𝘯 𝘪𝘴 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘺." 🛑 Beware attractive headline returns without meaningful risk disclosures #privatecredit  #privatedebt #smefinance #privatecapital #income #privatewealth #investoreducation #SMSF #ausbiz Steward Wealth Financial Standard ausbiz Capital Brief Financial Advice Association Australia (FAAA) Blair Murphy | Luke Howes | Dallin Howes | Patrick Prasad William | Shrikaanth B, CFA | Hessan Shah | Alan Butterfield | Justin Roberts