Results Home Loans
November 2024 Update
What’s been going on this month?
Stay current with Results Home Loans and any updates in the market
Rate Movements
As of 06 November 2024, RBA has decided to leave rates unchanged, keeping the Cash Rate at 4.35%.
RBA Cash Rate in November 2014 was 2.50%.
Westpac
Peak of 4.35% in November 2023, then dropping to 3.35% by December 2025
NAB
Peak of 4.35% in November 2023, then dropping to 3.10% by June 2026
CBA
Peak of 4.35% in November 2023, then dropping to 3.35% by December 2025
ANZ
Peak of 4.35% in November 2023, then dropping to 3.60% by December 2025
CURRENT INTEREST RATES FOR HOME OWNERS
Based on a $500,000 loan over a 30 year term at 80% LVR with Principal and Interest repayments.
CURRENT INTEREST RATES FOR INVESTORS
Based on a $500,000 loan over a 30 year term at 80% LVR with Interest Only repayments.
Lender Turnaround Times
As at 21/11/2024
Under 24 hrs
2 Days
3 + Days
Industry News
ING to Launch New Green Loan Offering
ING Australia will introduce a Home Energy Helper and Green Upgrade Loan in Dec to help customers improve their homes’ energy efficiency.
Starting in December, ING customers can:
- Access accredited green energy installers for quotes.
- Identify eligible rebates and assess potential savings in energy costs and emissions.
- Apply for a Green Upgrade Loan (available to existing ING home loan customers).
The Green Upgrade Loan offers $5,000–$50,000 at a fixed interest rate of 3.74% p.a. (5.16% p.a. comparison rate). To qualify, customers must meet the following criteria:
- Own a property in NSW, Victoria, or the ACT valued at $2.5 million or less.
- Have at least $150,000 remaining on their ING home loan.
- Maintain an active ING Orange Everyday account in the same name as the home loan.
- Ensure their total loan-to-value ratio (LVR) for the existing home loan and Green Upgrade Loan is 80% or less upon settlement.
With rising interest in green loans, ING joins other lenders, including Westpac and non-banks like Metro and Firstmac, in offering sustainable financing solutions.
We’re now able to off our clients asset & commercial finance with our partner Loan Options.
Other services we can offer your clients
We’re now able to off our clients business loans with Prospa.
New Free Resources Available for our Clients!
At Results Home Loans, we’ve launched a Free Resources section on our website to help clients navigate the complexities of home loans and financial planning. These resources are designed to educate, empower, and support them throughout their journey.
📘 What’s Included?
- Guides on bridging loans, FHOG (First Home Owner Grant), and self-employed income.
- Tips and tools to simplify the lending process.
You can check out the full list of resources here:
👉 Results Home Loans Free Resources
Feel free to share this link with your clients to provide them with valuable insights and tools, all at no cost! If you have any questions or would like to discuss how these resources can benefit your clients, don’t hesitate to reach out.
Client Success Storys:
Stephanie & William
What the Clients Needed:
- Will is a self-employed painter and Stef is a PAYG chef
- Wanted to sell their current home and upsize to a bigger house
- They already found their ideal property which was another unit in their area and was already up for sale
- Had an existing loan with ANZ
- Initially considered a bridging loan to purchase the new property before selling their current home
- 2024 financials were not yet finalised
What We Did:
- Shortlisted lenders that would accept 1 year financials for self-employed clients
- Researched bridging loan options to ensure this would be an option if a longer settlement wasn’t available
- Looked at Deposit Bond options as a second option instead of using cash savings
- Assisted with co-ordinating a simultaneous settlement, aligning the timing of selling their current home with settling on their new home
Result:
Successfully obtained loan with option to revert to Bridging Loan if settlement dates changed.
Simultaneous settlement ultimately took place and the clients were stoked!
Client Feedback:
“Cant recommend nadia and her team enough.
Professional in every aspect, friendly and efficient. Made the whole process so simple while always keeping us up to date though-out the whole process.
Will definitely use Nadia again. If you’re looking for a broker, look no further.W
Emma & Erik
What the Clients Needed:
- We have also helped these clients with their SMSF loan, which settled in August this year
- This time, they wanted to purchase their new owner-occupied home
- They were concerned about Emma’s credit score of 501 and a default (already paid) that was due to be removed in December this year.
What We Did:
- Researched lenders that would accept Emma’s credit score (as most lenders would only accept a minimum credit score of 600)
- Discussed potential lenders with the clients and recommended Bank of Melbourne, who offered significantly lower interest rates compared to other lenders.
Result:
The loan was assessed based on merit and subsequently approved based on our strong commentary to the assessor. This then moved quickly to settlement and the clients are now happily living in their new home!
Client Feedback:
“Just catching up after a hectic week of moving. We couldn’t be happier and are super stoked to finally be in our new home.
Massive thanks to you in particular Nadia, for all the support, information and availability for us during the whole process over the last few months and being a guiding light. We are super appreciative.
Thanks also to all team at C&R who have had a part to play, you guys are amazing and have helped incredibly to make it our dream home a reality.
We would openly recommend C&R and feel free to use our feedback if you require.
Many thanks again and best regards,
Erik & Emma”
Thank You!
The value of a strong network and partnerships is priceless, and your referrals have not only brought us new opportunities but reinforced our confidence in delivering exceptional services.✨ We want to take a moment to express our heartfelt thanks for your amazing support and collaboration. 🤝 Your trust in recommending us to your network means the world, and we're honored to have earned it. 🙏 We deeply appreciate your efforts with every referral, and we're here to return the favor anytime you need. If you ever need assistance or a reliable partner, don't hesitate to reach out! 💬