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Demystifying Property Finance

Demystifying Property Finance

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In this episode of Property, Straight Up, host Mel Dennis from Domain & Co sits down with Nathan Murphy, mortgage broker at Blue Rock, to demystify property finance from understanding what you can actually borrow, to structuring your lending for long-term growth.Nathan brings nearly two decades of industry context from Blue Rock, a Melbourne-based multi-disciplinary firm covering accounting, financial advice, legal services, and mortgage broking, giving clients a rare one-stop-shop advantage.WHAT WE COVER:How much can you borrow right now?Interest rates rising from 0.10% to 4.35% and elevated living costs have significantly reduced borrowing capacity. Banks also apply a 3% buffer on top of current rates, meaning a 6% rate is assessed at 9%. And even if you live frugally, the bank's Household Expenditure Measure, based on income, household size, and dependants may assume much higher spending than your reality. The biggest finance mistakes buyers makeImpulse buying without a current pre-approval is the number one mistake Nathan sees. Approvals from 6–12 months ago may no longer reflect what you can actually borrow. Waiting until you're under contract or unconditional to start the finance process can leave you paying higher rates through non-conforming lenders. What a pre-approval actually doesA pre-approval means the bank has assessed your income, liabilities, living costs, and credit profile everything except the property itself. It gives you real confidence to search the market, and is especially critical if you're planning to bid at auction (where there's no finance clause to fall back on). Structuring your loan for the futureEven first home buyers should think about debt structure from day one. Fixed vs. variable, principal-and-interest vs. interest-only, and ownership structure all have implications especially if the property may become an investment down the track. This is where having a team of advisors (accountant, financial advisor, mortgage broker) working together is invaluable. Red flags that could derail your finance- No credit profile (having zero debt history can actually be a problem with some lenders)- Missed repayments on any debt, including AfterPay and buy-now-pay-later products- The property type itself rural locations and small apartments don't meet all lenders' criteria Nathan's one piece of adviceGet prepared before you start looking. See a mortgage broker (it costs you nothing brokers are paid by lenders), understand your borrowing capacity, get pre-approved, and build your team of advisors early. Preparation is the single biggest thing that separates a smooth purchase from a stressful one. CONNECT WITH NATHAN MURPHY @ BLUEROCK Nathan Murphy0477 000 506 | nathan.murphy@thebluerock.com.auWe're for business owners and people with ambitious goals. Our team of business and wealth experts all work together to get the best outcomes for clients. We know that business can be tough and that life gets busy, which is why we act as advisors, not just accountants, and bring together lawyers, finance brokers, digital specialists, insurance brokers, financial planners and grant consultants. Everyone you need on your team to make your life easier. https://www.bluerock.com.au/ ABOUT DOMAIN & CO Buying or selling a home is one of the biggest decisions of your life.Often the biggest financial decision you’ll ever make.Bigger than anything else you’ll sign your name to.And the people meant to help you make ithave started to look a lot like the people you didn’t trust in the first place. The polished ones in the sharp suits.The corporate machines who never learn your name.Or worst of all. No one. Just you and a portal and a hunch. We’ve spent thirty years on both sides of property.The buy and the sell. The boom and the bust.The houses that grew. The ones that didn’t.The agents you’d want in your corner.The ones you wouldn’t. We’ve walked the same families through five, six transactions across decades.First home. Family home. Forever home. The next chapter after that. So we don’t pitch. We don’t perform. We don’t take work we don’t believe in.We just tell you what we’d do, if it were us in your position. For property, told straight.We’re your property people. https://domainandco.com.au/ Timestamps: 0:00 Introduction & guest background1:04 About Blue Rock2:21 How much can you borrow right now?4:35 Biggest mistakes buyers make6:07 The 3% interest rate buffer explained6:36 What is a pre-approval and why does it matter?8:04 Buying at auction without pre-approval9:02 Structuring your loan for future growth11:05 Fixed vs variable in the current market12:11 First home buyers vs investors13:11 Red flags that could block your finance15:25 Steps to take in the next 3–6 months17:16 Check your credit score it's free17:59 Nathan's one piece of advice
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