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Monday 8:30am - 5:30pm Tuesday 8:30am - 5:30pm Wednesday 8:30am - 5:30pm Thursday 8:30am - 5:30pm Friday 8:30am - 5:30pm

Elephant Advisory

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Australia
Melbourne, VIC
Elephant Advisory

Elephant Advisory is a leading mortgage broker and accounting firm, specialising in Melbourne.

16/08/2023

The art of negotiation is a crucial skill when refinancing your home loan to a better rate.

To help you potentially save thousands on interest costs, here are five of our best tips for negotiating a better interest rate with your lender:

1. Research the Market: Before negotiating your mortgage rate, thoroughly research the current market and compare your rate with other lenders. Knowledge of market rates gives you leverage during negotiations and will help you secure a better deal.

2. Highlight Financial Strength: Emphasise factors like good credit, steady income, and equity to show you're a reliable borrower. Lenders offer better rates to financially stable clients they can trust.

3. Consider Other Products or Terms: Besides the interest rate, explore additional loan features, like offset accounts, or negotiate terms such as loan length. Flexibility in these areas can benefit your financial situation.

4. Be Willing to Walk Away: Show your seriousness about getting a fair deal by being prepared to walk away if the lender's offer isn't satisfactory. This can force the lender to reconsider and offer a more competitive rate.

5. Improve Loan-to-Value Ratio: Boost your loan-to-value ratio by making extra mortgage repayments to build equity in your home. A lower LVR makes you a more attractive borrower and increases your chances of obtaining a better rate.

08/08/2023

Without the right business structure in place, your small business can face inefficiencies, unnecessary tax costs, and limited scalability. That's why our accounting experts conduct thorough business structure reviews to ensure your structure aligns with your business's needs and goals.

If you're unsure about whether your small business has the best structure in place, don't hesitate to reach out to one of our accounting team today. We can provide valuable insights and guidance that have an immediate impact on the performance of your business.

www.elephantadvisory.com.au/services/accounting/business-structure-review

24/07/2023

Shehan is back to explain how professionals can avoid paying Lender's Mortgage Insurance on their next home loan.

For most borrowers, getting a home loan without a deposit worth less than 20% of the purchase price can come with hefty LMI costs. However, certain professions, such as doctors, lawyers, and accountants, might have the advantage of having LMI waived by lenders as an incentive to attract them as clients.

Watch the full video as Shehan explains how this works and how professionals in these fields can leverage their careers to save thousands of dollars when purchasing property.

www.youtube.com/watch?v=hFEoI48x03g&ab_channel=ElephantAdvisory

20/07/2023

It's time for a Melbourne property market update.

Thanks to the latest figures from CoreLogic, this is how property prices, auctions and the rental market have been performing over the last quarter.

14/07/2023

How well do you understand Lender's Mortgage Insurance?

As Shehan explains, LMI is a contract that protects the risk of the lender, not the borrower. Without understanding the quirks of LMI, you can risk paying additional fees or getting stuck with your lender for a really long time.

Watch the full video here: https://loom.ly/XsmE45o

10/07/2023

Happy b'day, Oz!

Today, we're celebrating another great year with our much-loved accountant. A big happy birthday from all of us in the Elephant family.

That cake doesn't stand a chance!

07/07/2023

With property becoming increasingly unaffordable in Australia, many investors have started looking at units as a way of breaking into the market. However, it's important to recognise the long-term ramifications that this choice will have on the performance of your investment property.

Check out our latest article, where we look at the historical performances of both houses and units and analyse which option is better for investing.

Here's the full article: www.elephantadvisory.com.au/blog/which-is-the-better-investment-houses-or-units

04/07/2023

We're very excited to announce that we won the Marketing Program of the Year award at last week's Australian Accounting Awards!

Over the last 18 months, we've done our best to produce a wide range of informative content for our clients to use, including blogs, videos, podcasts and newsletters. Our goal has been to provide our clients with valuable tools and knowledge on important topics such as money management, tax, home loans and business ownership. We hope you've enjoyed this journey too!

If you haven't checked out any of our free resources yet, you can visit our website or sign up to receive our newsletter using the link below.

http://eepurl.com/dDcH3v

30/06/2023

With interest rates still rising sharply, it's important to stay agile with your home loan and be prepared to refinance and switch lenders if necessary.

Here are five of the best refinancing tips from our mortgage brokers.

1. There are general government and bank fees to be aware of when refinancing. This can be as much as $500 and above (depending on the number of securities and applications), so consider this when refinancing for a minimal rate difference.

2. Getting a lower rate shouldn't be your only consideration when refinancing. Other factors, like changing the home loan term or attaching an offset account, may be better suited to your current financial circumstances.

3. Cross-linking properties can lower your Loan to Value Ratio (LVR), which can, in some cases, mean lower rates (this does come with risks and cons, so consider your options).

4. Adding products to your home loan can come with additional fees. Consider basic loan products with cheaper rates and no frills (and no annual fees) if you do not need the extras.

5. While attractive cashback offers can be appealing, it is important to consider whether lenders without such incentives could potentially save you more in interest costs over a 2-3 year period.

23/06/2023

Building a stable property portfolio has proven to be one of the most successful paths for Australians to create wealth for their family and secure their retirement.

But to reach your desired destination, you need a well-defined map.

That's where our property wealth planning services come in. We'll provide you with a comprehensive roadmap, outlining the necessary steps to finance and grow your portfolio. By closely analysing your financial information, we'll develop a tailored financial blueprint that leads you towards property wealth.

Reach out to our experienced finance team today to find out how a property wealth plan can transform your financial future.

www.elephantadvisory.com.au/services/finance/property-wealth-planning

16/06/2023

A lesson on cash flow forecasting in under 60 seconds.

This week, Oz has shared his best cash flow management tips for new or soon-to-be businesses. Check out the full video below to hear the five cash flow tips that will help secure the survival of your business.

www.youtube.com/watch?v=PYRWICIis-0&ab_channel=ElephantAdvisory

08/06/2023

On Tuesday, the RBA handed down more pain as the cash rate passed 4 per cent for the first time in over a decade. In the same week, CoreLogic reported a 1.2 per cent rise in national housing values during the month of May.

Typically, the behaviour of interest rates and property prices are closely linked together. Low rates encourage consumers to buy into property, while higher rates price many out of the market.

But with this unusual trend emerging in 2023, we wanted to analyse the relationship between interest rates and property, as well as what forces are causing the current surge in the market.

Check out our article here 👉 www.elephantadvisory.com.au/blog/the-impact-of-interest-rates-on-the-property-market

Address

Unit 16 105/111 Ricketts Road, Mount Waverley
Melbourne, VIC
3149

Opening Hours

Monday	8:30am - 5:30pm
Tuesday	8:30am - 5:30pm
Wednesday	8:30am - 5:30pm
Thursday	8:30am - 5:30pm
Friday	8:30am - 5:30pm

Website

http://www.elephantadvisory.com.au/

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