Category Archives: Uncategorized

Green Team takes out Record Finance Broker Awards Haul

Last week the Green Team won a record 24 awards in six categories at the annual Queensland finance brokerage awards held by our aggregator Loan Market (Australia’s largest 100% family-owned finance brokerage/aggregator), at the Victoria Park Golf Club.

From our home and investment loan specialists to our franchise and business finance specialists to our diversified commercial finance division and everything in between, together we assisted almost 700 clients to obtain funding last year and can claim one of the highest customer satisfaction ratings in the market!

A full list of our team award winners is as follows:

AWARD – Highest Settlement Volume 2020/21

Chairman’s Club – Top 1% of Finance Brokers (Australia)

Platinum Elite – Top 3% of Finance Brokers (Australia)

Elite Club – Top 4% of Finance Brokers (Australia)

  • Rod Weir – Residential & Business Finance (Cairns)

Premier Club – Top 20% of Finance Brokers (Australia)

  • Mark Anyon – Commercial & Equipment Finance Specialist
  • Karen Donato – Home & Investment Loan Specialist (Cairns)
  • Terri Johnson – Home & Investment Loan Specialist (Rockhampton)
  • Derek Parsons – Business & Franchise Finance Specialist

Personal Bests – Volume of Client Loan Settlements

Career Milestones

A special mention to James Kelder who also scored a finalist berth in the award category of Highest volume of Real Estate Settlements 2020/21. This is for his work in procuring client finance for commercial property developments and acquisitions and is in addition to him joining the Platinum Elite Club in recognition of being in the Top 3% of Finance Brokers in Australia (based on $ client funding settled, number of clients and his customer satisfaction rating). Go James!

Congratulations to the entire team and a big thanks to the customers and colleagues who trust, support, and recommend us year in and year out! Thank you also to the team at Loan Market for all your work behind the scenes and for your dedication to championing the highest of professional standards in our industry.

Social distancing made a team pic a little difficult, but I think the slightly dazed and crazed look of happiness on James Kelder’s dial sums up the team feeling on the night.

 

If you need assistance to secure finance for your home or business, or simply want to see if there is a better deal available to you, a member of our award-winning team can help.


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$25k Government HomeBuilder Grants

In the midst of the craziness that is 2020, there is a silver lining!

Earlier this month, the federal government announced a $700 million housing package for Australians to access $25,000 grants to build a new home or start a major renovation.

What does that mean for you?

As a first home buyer or owner-occupier, understanding what federal grants, incentives and discounts that are available to you can be a nightmare.

We’ve cut through the headlines and jargon and created a snapshot of the HomeBuilder Grant. Please know, the individual states and territories are still finalising grant processes and undoubtedly there will be tweaks. Here’s everything you need to know right now:

What is the HomeBuilder Grant?

● $25,000 grant to build a new home or start a major renovation
● Available to eligible first home buyers and owner-occupiers
● Must be entering into building contract between 4 June 2020 and 31 December 2020
● Construction must be with a licensed builder, and start within 3-months of the contract date

Who’s eligible?

To access HomeBuilder, owner-occupiers must meet the following eligibility criteria:

● you are a natural person (not a company or trust);
● you are aged 18 years or older;
● you are an Australian citizen;
● you meet one of the following two income caps:
○ $125,000 per annum for an individual applicant based on your 2018-19 tax return
or later;
○ or $200,000 per annum for a couple based on both 2018-19 tax returns or later;
● you enter into a building contract between 4 June 2020 and 31 December 2020 to either:
○ build a new home as a principal place of residence, where the property value
does not exceed $750,000; or
○ substantially renovate your existing home as a principal place of residence,
where the renovation contract is between $150,000 and $750,000, and where the
value of your existing property does not exceed $1.5 million;
● construction must commence within three months of the contract date.

What’s considered a ‘renovation’?

If you are thinking about a renovation, to receive HomeBuilder the works must improve the accessibility, safety and liveability of the dwelling.

Additions to the property such as swimming pools, tennis courts, outdoor spas and saunas, sheds or garages aren’t allowed (not connected to the property).

What does a licensed builder mean?

Renovations or building work must be undertaken by a registered or licensed building service ‘contractor’ (depending on the state or territory you live in) and named as a builder on the building licence or permit.

How can I help?

If you’re thinking of a applying for a construction loan, we can discuss how this works and how to proceed.

If you’re a first home buyer there’s lots working in your favour! The HomeBuilder Grant works with the existing grants available (stamp duty concessions, state and territory First Home Buyer Grants, along with the national Commonwealth First Home Loan Deposit Scheme and First Home Super Saver Scheme). It’s worth a conversation so we can run the numbers for you.

 

Case Studies

The Government Treasury has put these case study scenarios together to help us, help you understand what HomeBuilder means.

Case Study #1

First home buyers Emma and Liam decide to purchase a house and land package

Emma and Liam enter into a house and land contract for $550,000 on 25 September 2020. Emma and Liam’s bank applies on the couple’s behalf to the relevant State or Territory revenue office to receive the HomeBuilder $25,000 grant. The revenue office conducts the eligibility checks and reviews the couple’s documentation and confirms that both Emma and Liam are Australian citizens, over the age of 18, have a combined taxable income under $200,000 based on their 2018-19 tax return and the value of the contract is under the $750,000 contract price cap.

As the couple are both first home buyers, Emma and Liam may also be entitled to their State’s First Home Owner Grant and stamp duty concessions as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.

Case Study #2

Owner-occupier Cassidy decides to substantially renovate her home

Cassidy enters into a contract to substantially renovate her home on 31 December 2020, with renovations valued at $400,000. The value of her home is $900,000 (this includes the value of the house and the land). Cassidy pays the builder $10,000 to commence renovation of her home on 2 February 2021. Cassidy then applies directly to her State or Territory revenue office to receive the $25,000 HomeBuilder grant.

The revenue office conducts the eligibility checks and confirms that Cassidy owns the property, is an Australian citizen over the age of 18 and, has a taxable income under $125,000 based on her 2019-20 tax return. The revenue office also confirms the value of the renovations is between $150,000 and $750,000, and the value of her home is less than $1.5 million and Cassidy has made the first progress payment on the renovations. The revenue office approves the application.

As Cassidy already owns her own home, she is not eligible for the First Home Owner Grant, the First Home Loan Deposit Scheme or the First Home Super Saver Scheme.

Case Study #3
First home buyer Rebecca decides to purchase an off-the-plan apartment

First home buyer Rebecca enters into a contract to purchase an off-the-plan apartment valued at $550,000 on 6 October 2020. Rebecca’s bank applies on her behalf to the relevant State or Territory revenue office to receive the HomeBuilder $25,000 grant. The revenue office conducts the eligibility checks and reviews Rebecca’s application documentation. The revenue office confirms that Rebecca is an Australian citizen, over the age of 18, has a taxable income under $125,000 based on her 2018-19 tax return and the value of the off-the-plan apartment is under the $750,000 contract price cap.

As Rebecca is a first home buyer, she may also be entitled to their State’s First Home Owner Grant and stamp duty concessions as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme.

Case Study #4
Owner occupiers Jacqui and Henry decide to knock down and rebuild their existing home

Jacqui and Henry enter into a building contract to knockdown and rebuild their existing home on 24 August 2020, with the knockdown and rebuild contract valued at $400,000. The value of the property is $800,000 (including the current value of the dwelling and land).

The couple pay the builder $15,000 to commence the knockdown and rebuild on 14 September. Jacqui and Henry’s bank applies on the couple’s behalf to the relevant State or Territory revenue office to receive the HomeBuilder $25,000 grant.

The revenue office conducts the eligibility checks and confirms that the couple own the property, are Australian citizens, over the age of 18, have a combined taxable income under $200,000 based on their 2018-19 tax return, and the value of their existing home and land pre-renovation is less than $1.5 million. The building contract is also within the HomeBuilder renovations price range (between $150,000 and $750,000) and the couple have made the first progress payment on the renovations. The revenue office approves the application.

As Jacqui and Henry already own their own home, they are not eligible for the First Home Owner Grant, the First Home Loan Deposit Scheme or the First Home Super Saver Scheme.

Case Study #5
Owner-occupiers Carla and Andrew decide to build a new home on a vacant block

Carla and Andrew decide to build a new home on a vacant block of land that they already own. The value of the vacant block is $400,000 and the building contract that Carla and Andrew sign is for $300,000. Carla and Andrew enter into the building contract on 4 July 2020 and make the first progress payment when construction commences on 2 August 2020.

The State that Carla and Andrew live in signs the HomeBuilder National Partnership Agreement on 23 August 2020 and starts to receive HomeBuilder applications through the revenue office on 27 August.

Carla and Andrew apply for HomeBuilder via the relevant revenue office which conducts the eligibility checks and confirms that both Carla and Andrew are Australian citizens, over the age of 18, have a taxable income under $200,000 based on their 2018-19 tax returns, the value of the property (house and land) is less than $750,000, the contract was signed on or after 4 June 2020 and before 31 December 2020, and they have made the first progress payment. The revenue office approves the application.

As Carla and Andrew are not first home buyers, they are not eligible for the First Home Owner Grant, the First Home Loan Deposit Scheme or the First Home Super Saver Scheme.

If you want to understand what this means for you, or how I can help you, make the call.

For more information, check out the frequently asked questions fact sheet for HomeBuilder – click here.

$14 billion in lost super – is it yours?

Did you know that more than $14 billion dollars is sitting in over 5 million lost super accounts?*

If you have had different jobs with different employers over your working career, you will probably have superannuation accounts in several funds. Do you know where all of your super is?

Whether you have multiple super accounts or lost super sitting waiting for you to collect, there are several reasons why now could be a great time to speak with one of our Financial Advisers to sleuth out your super and help you save for a more comfortable retirement. 

Lost Billions
Superannuation held in inactive accounts with balances less than $4,000 is transferred into the federal government’s consolidated revenue account. You could have money sitting in a government account rather than your own.

Paperwork and Fees
More than one fund means you receive multiple annual reports and statements. Apart from being a nuisance, the big danger is that your super will be eroded every year by fees.

Investment Strategy
Choosing the right investments for your situation is critical to maximising your retirement nest egg. What funds are your missing super investing in? Combining them and having a solid strategy can make a significant difference to your retirement lifestyle.

Find Your Own Super
The myGov Website will have the ability to help you find lost super. You will need to have setup access to myGov to enable you to search for lost accounts.

How we can help
One of our qualified Financial Advisers can help – find your lost super, consolidate your funds, discuss your investment options and provide you with guidance to achieve the retirement lifestyle we all work so hard for.

So contact us today to set up an appointment, phone 07 3899 2866.

Retirement: Pension VS Superannuation

Retirement often boils down to two options. The first is to rely on the Age Pension. The second is to get advice early, save diligently, build a significant nest egg, and run your own retirement.

 

The Pension Option
 
The Self-Funded Alternative
Age Pensions vary dependent upon whether you are single or a couple, your income, assets and some other circumstances.

You might qualify for a full Age Pension of $34,252 per annum#. This is close to the amount determined to be sufficient for the “modest retirement” of a 65-year-old couple while being able to afford basic activities*.

The income test also allows couples to earn supplementary income of a combined $7,592 per year and still receive a full pension. That total of $41,844 pa leaves them over $17,000 short of being able to afford a “comfortable” lifestyle*.

  A self-funded retirement can mean fewer cash flow stresses and worries, allowing you to enjoy the retirement you worked so many years for.

Freed from the modest lifestyle the Age Pension brings, this option also removes the need to watch every dollar and to report any changes in your circumstances to Centrelink.

Self-funded retirees are insulated from the impacts of any future changes to the Age Pension.

 

Start early and plan well

No matter what you can afford to invest, the key is to start retirement planning as early as possible. Pensions and superannuation are complex areas, so it is essential to obtain detailed and personalised advice from one of our qualified financial advisers.
 

Our dedicated Financial Planners can assist you to plan and better manage your retirement, no matter your situation or life stage. Find out how you can improve your retirement options today, call us on 07 3899 2866.

 

Daniel Green Ends Year Named Top Business Broker 2014

Green Finance Group Founder and Director, Daniel Green, was last week named in The Adviser Magazine’s Top 10 Business Broker Awards, ranked number two in the poll for Australia’s hardest working business and commercial finance brokers.

The honour caps of a busy year for Daniel and the team at Green Finance Group who have only recently returned from Astute Financial Management’s conference in Fiji where they were nominated for a record eight industry awards and secured three winning trophies for Commercial Broker of the Year, Champion Member of the Year and Financial Adviser of the Year (Insurance) for Danielle Ryley of Green Wealth and Insurance.

See the full article here: Broking Beyond Home Loans

Green Finance Group will be closed over the Christmas period from 12 noon on Wednesday 24th December and re-open on Monday 12th January 2015. 

We wish all our clients a laid back holiday season and all the best for a fantastic year in 2015.

 

GFG Team Nominated for EIGHT Industry Awards

The team at Green Finance Group has been nominated for a record-breaking eight mortgage industry awards at the Astute Financial Management Recognising Excellence Awards being held in December.

The team have finalist berths in the following award categories:

New Member of the Year Award – Jamie Giles
Commercial Broker of the Year – Jamie Giles & Daniel Green
Financial Adviser of the Year Insurance Award – Danielle Ryley (Green Wealth and Insurance)
Business Leadership Award – Daniel Green
Business Operator of the Year Award – Daniel Green
Business Diversification Award – Green Finance Group 
Champion Group Award – Green Finance Group 

Over 300 fellow industry professionals from the mortgage, banking and finance, financial planning and insurance industries will attend the final presentation.

These awards are really a testimony to some great teamwork and are a brilliant way to finish a big year and I wish Jamie and Danielle all the best in bringing home their individual trophies. Go Green!

Homeowners win as RBA Holds Rates at 2.50%

The Reserve Bank of Australia has held the cash rate at 2.50% for the 15th consecutive month at today’s meeting making all mortgage holders a winner this Melbourne Cup.

The announcement of ‘no change’ was no surprise to most in the industry with the majority of commentators predicting they’re now unlikely to rise again until mid 2015.

That’s great news for homebuyers, investors and business owners alike with historically low interest rates available from most major banks and lenders on a range of fixed and variable loan products. 

As we head into the silly season and the diary becomes full of end-of-year celebrations I encourage you, while you have a spare moment, to take some time out to review your financial situation – is your home or business loan more than three years old? Would you like to save money on your repayments? Are you considering a move, an upgrade or would you like to invest in property? Do you need to consolidate your debts before summer spending hits? With rates sitting below 5.00% in some instances, now is a good time to consider your options.

Whether it is time to lock in a low fixed rate on your loan, or perhaps refinance to a better deal banks are keen for business with some lenders even offering to cover up to $40k in switching costs for small business lenders.

Whatever your plans, one of our professional Finance Consultants can help. Contact the team at Green Finance Group on 07 3899 2866 to book your no-obligation review.