Daniel Powell is Strategy Loans' Owner/Director and has been working as a Broker for 16 years. He also gained experience in the Real Estate and Finance industries prior to Brokering. Daniel is fully qualified and holds his own Australian Credit Licence.
We offer specialised and personalised service to each client and have loan product information from over 30 lenders. This enables us to choose a lender and loan structure that best suits a clients finances and lifestyle. We handle all loan types, including complex loans, both residential and commercial. We are a long term client Broker - we give ongoing support and advice to clients over the years of their loan.
Located in the northern suburbs of Brisbane, Strategy Loans predominately services Brisbane and its surrounds, however we have clients from all over Australia and still can assist if interstate.
- Simple or complex loans
- Personalised advice
- Free consultations
- One contact point
- Full explanation of options
- Ongoing reviews and long-term clients
There are many different lenders and loan types to consider when selecting a loan. Sometimes the lowest rate is not the best option long term. Strategy Loans will examine your financial situation, lifestyle, current and future needs to advise you on the best option.
This is the most common loan in Australia. In variable rate loans, also known as a floating interest rate loans, the interest rate fluctuates with a benchmark from the RBA as well as the economy. These loans typically have repayment periods of up to 30 years and can include options like offset and redraw. Extra repayments are allowed any time. As variable loans are subject to rate fluctuations and rate rises, you are also subject to possible increases in repayments and life term of the loan.
Fixed rate loans have a set interest rate for a set period of time, usually 1 to 5 years. You will know exactly what amount your repayments will be for that fixed term. Interest rate fluctuations and rises do not apply during your fixed rate term and it may be easier for some to budget knowing the amount of your repayments. On the flipside, if the variable interest rate falls below the fixed rate, you may miss out on those interest rate savings. Generally you can not make extra repayments and you may be penalised or charged a fee if you do.
Line Of Credit
With Line of Credit loans you can borrow up to a certain limit and draw on any amount within that limit. Your actual loan balance and repayment options are flexible - you can draw on the credit as needed and you can re-pay as little or as much as you want under that limit. Interest calculations will be capitalised and added to the balance of the loan, so if you are comfortable managing your own day to day debt and would like access to large amounts of funds quickly, this loan type may be suitable for you.
First Home or Subsequent Buyer
Entering the market for the first time can be quite daunting. Similarly, if you are selling and buying after a long break, it can be confusing due to the many changes the finance industry has undergone. Strategy Loans helps clients by sorting out what needs to be done in what order, and coordinating your financial requirements. We can advise on the First Home Owners Grant, Stamp Duty, deposit requirements, Government charges and any applicable concessions.
Investment or Commercial
If you are at the stage financially where you would like to consider building wealth and investing, Strategy Loans can look at a maximum borrowing capacity and loan structure that is conducive to the investment option, for example offsets, line of credits, interest only. Often, with the right loan structure, you can set yourself up for further future investment.
Lenders often change the structure and condition of their loan product offering. It is a good idea to keep abreast of market and interest rate changes and if you are not happy with the direction your loan is taking, or you feel there is a loan product better suiting to your needs, consider refinancing to a different lender. Strategy Loans can look at the different lender products available and give you comparison information. Also if you have multiple debts that you feel are difficult to manage, we can look at consolidating these to one loan with one repayment each month.
Frequently Asked Questions
What is the importance of a Credit Check?
Lenders use Comprehensive Credit Reporting (a 'Credit Check') to gather information on your credit history including but not limited to: any loan enquiries, credit cards, current loans and limits, payment history for 2 years, defaults and bankruptcy information. An unfavourable credit check may affect your ability to have your loan approved. We may however be able to explain and provide further information on the negative issues or defaults before the application is submitted.
How much can I borrow?
Internet calculators are a good start, but are also very basic. An in-depth analysis of your financial position is necessary to determine how much you can borrow. Many factors need to considered including your income, expenses, assets, liabilities and the purpose of the funds.
What is LVR and LMI?
LVR or Loan to Value Ratio is simply the amount you are borrowing from a lender expressed as a percentage compared to the security or purchase price. For example, if you are buying a property which has a purchase price of $500,000 and you are borrowing $450,000 to finance it (you have $50,000 deposit), then the LVR would be 90% (with 10% equity). LVR has two main implications: (1) The lower the LVR, sometimes the better the interest rate and the more favourable you are to a lender (2) Generally if LVR is over 80% you will need to pay Lender's Mortgage Insurance (LMI) which is an insurance premium to cover the lender should you default.
How can I demonstrate genuine savings?
1. Personal savings held for a minimum of 3 months or built up from regular income. This must be evidenced in copies of bank statements
2. Term deposit statements or certificates showing funds held
3. Sale of real estate documents with the property title being held in the name of at least one of the borrowers
4. Statement of sale documents from publicly listed shares, bonds or managed funds
Are small lenders as good as the big banks?
Smaller lenders offer some tangible benefits over their larger bank counterparts. They often have lower overheads and operating costs, which allow them to be more flexible and competitive with interest rates, loan benefits and approval timeframes. The larger banks often have shareholders to appease and this may mean profits are sent to the sharemarket rather than lowering rates for clients. On the flipside, the larger banks have longevity, familiarity and more financial security behind them, this might mean less risk to the client. All the lenders on Strategy Loan's panel are regulated by APRA as well as credit laws including the National Consumer Protection Act 2009.
What is Stamp Duty
Stamp Duty is a one off government tax on the purchase of items like real estate and motor vehicles, and in the case of property, it is imposed following the transfer of a title, whether it be for residential, commercial or investment. The amount of Stamp Duty you will pay depends on what Australian State you are making the purchase in, however for Qld, duty is calculated on the market value of the property, generally the more expensive the asset, the higher the tax. The Office of State Revenue manages all aspect and payments of Stamp Duty.
Internal Dispute Resolution
Should you not be satisfied with the service from Strategy Loans, we have an Internal Dispute Resolution process. Please click here to access