On Point Finance

Hosting our Quorum business event

What is Quorum? Quorum is a community of leading WA SME business leaders.

If you’d like to learn more or attend our guest, please feel free to make contact 🙏

We are absolutely delighted to announce that On Point Finance has received the award for Sole Operator of the year for Choice Aggregation 2021/2022.

Thank you again to all of our clients, friends, family and loved ones for your continued support, we are extremely grateful to be able to be of service to you 🏡💗🙏

We are absolutely delighted to announce that we are finalists for 2 awards at the Better Business Awards for 2023 being 'Best Boutique Office' for On Point Finance, and 'Best Residential Broker' for our Director Sarah Fallon

A big congratulations and best of luck to all of the finalists, and what an honour to be considered amongst the best in the business 💫🎉

Thank you to our clients, friends, and family who have been a part of my journey so far, we look forward to continue being of service to you

Our Director Sarah Fallon celebrating as a finalist for the Adviser Better Business Awards.

What an honour to be recognised amongst the best in the business and a big congratulations to all of the winners 💫🙏

**INTEREST RATES - IMPORTANT UPDATE**

The Reserve Bank of Australia resolved to raise the nation’s official interest rate for the first time in 11 years by 25 basis points, from 0.1 per cent to 0.35 per cent. The rate rise was announced in response to skyrocketing inflation, which has reached an annual rate of 5.1 per cent and has sent prices climbing at the fastest rate in two decades.

The top 4 Banks (ANZ, CBA, NAB and Westpac) have announced they will be passing on the full rate increase of 0.25% to their customers.

HOW WILL A RATE CHANGE AFFECT MY VARIABLE HOME LOAN?
Based on an owner-occupier paying principal and interest with 25 years remaining on the average variable rate of 2.92% assuming the banks pass the cash rate hike on in full:

- a $500k home loan will increase by $65 per month
- a $750k home loan will increase by $98 per month


FIXED RATES vs VARIABLE – DO I NEED TO CHANGE MY LOAN STRUCTURE?
Not necessarily.

In response to the media around interest rate rises a lot of our clients have been asking us if they should fix SOME of their Home Loan or MORE of their Home Loan (if they already have a portion of their loan fixed).

This is a great question.

Based on a 30 year loan term, the variable rate will generally outperform the fixed rate.

Current Owner Occupied variable interest rates at 80% Loan to Value Ratio (LVR), Principle & Interest are generally sitting at between 2-3% depending on the lender.

In comparison, the current 2 and 3 year fixed rates are currently sitting at between 3.5% to 4.5% depending on the lender (approximate guide only). Given the fixed rate is a forecast of what lenders think will happen, you will notice that they have already factored in the rate increases.

Fixed rates aren’t about ‘winning’ or ‘losing’ in comparison to the variable rate, but rather about creating certainty in repayments and allowing you to budget.

As mentioned, over a 30 year period the variable rate will generally outperform the fixed rate, so the decision to fix is an emotional decision and based around your risk tolerance.

Given variable rates are currently lower than the fixed rate, if fixing now, you are essentially paying a premium on the interest rate, to give yourself certainty against future interest rate rises. Depending on you risk appetite, this may be worthwhile. Alternatively you may consider fixing just a portion of your Home Loan (vs all of your Home Loan) to hedge against the future rate rises.

Also, please keep in mind that majority of the lenders do not allow a 100% offset against a Fixed Rate Home Loan (some exceptions do apply).

IF CONCERNED:
Please feel free to give us a call 0402 531 656 to discuss your current loan. We are here to provide support and guidance where possible.

I am absolutely delighted to announce that On Point Finance has been named a finalist for the ‘Best Independent Office’ at the Better Business Awards for 2022

A big congratulations and best of luck to all of the finalists, and what an honour to be considered amongst the top mortgage broking firms 💫🎉

Our Director Sarah Fallon is delighted to be participating in a panel discussion for Quorum next week - ‘How Did Covid 19 Affect Australian Consumer Behaviour’

If you’d like further details and to attend, please see below link to RSVP or let us know 🙏

Quorum on LinkedIn: #Quorumsme #perthnetworking #perthbusiness Join the Quorum community on a business breakfast Tuesday 13th of July for a panel discussion 'How did COVID 19 Affect Australian Consumer Behaviour?’ ...

Useful tactics that buyers Need to keep in mind when making an offer 🏡

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It is with great pleasure that we announce that we have been shortlisted as a finalist for The Advisor Better Business Awards 2021 - Best Independant Office!

Thank you to all of our valued clients and business partners for your ongoing support🙏

Planning to buy your first home in 2021?

It pays to be financially and mentally prepared. After all, a mortgage is likely to be the biggest debt you’ll take on and the process can be a lengthy one.

To help set yourself on track, you’ll need to understand the ins and outs of buying a home. Set out below are tips on how to start the process and to help you make decisions that work for you, your family and your wallet

6 Actionable Home Loan Tips for First-Home Buyers | REALas Planning to buy a home in 2021? Here are some home loan tips on how to start the process and to help you make decisions that work

I am honoured to have been presented with the Choice Aggregation milestone award, in recognition of having achieved $100 million in home loan sales.

Thank you to everyone who has been a part of my journey so far, as well as my team at .

If you are looking to purchase your next home and would like to discuss your maximum borrowing capacity and overall lending strategy, or would like a review of your existing home loan then please give me a call

Congratulations to all of the winners of the 40under40 Awards 2020. What an honour to be nominated and considered amongst such high caliber, extraordinary business leaders and what a special night ✨✨✨

There are truly no limitations in business or in life, except the limit of your mind. Always go with your passions, never ask if it’s realistic or not.