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    TPP333: How to recycle your capital and supercharge your portfolio's growth

    enAugust 01, 2019

    Podcast Summary

    • Understanding the difference between build-to-rent and buy-to-let propertiesRecycling capital in property investment can grow portfolios, but it's crucial to distinguish between true build-to-rent and buy-to-let properties, and a mortgage broker can help facilitate various capital recycling strategies.

      The concept of recycling capital in property investment can help grow portfolios quickly, but it's important to understand that not all "build to rent" properties are created equal. This week on the Property Podcast, Robby was joined by mortgage broker Dave Cookson to discuss strategies for implementing the capital recycling approach. While the news story of the week featured London's first high-end "build to rent" homes, Robby and Dave clarified that these houses, which were just rented out after being built, were not true build-to-rent properties. Instead, they were buy-to-let investments. The discussion then focused on the importance of understanding the various ways to recycle capital in property investment and the role of a mortgage broker in facilitating these strategies. Overall, the episode highlighted the importance of accurate information and clear definitions in the property investment world.

    • Buy multiple properties with limited cash using bridge financingBridge financing allows you to buy and renovate non-habitable properties with limited cash, using deposit from first property to fund second purchase, and refinance once completed to recover initial deposit, building a property portfolio faster

      It's possible to buy multiple properties with limited cash up front by finding non-habitable properties and using bridge financing to get started. This approach, also known as "recycling money," allows you to use the deposit from the first property to fund the purchase and renovation of the second property. Once the work is completed and the property value increases, you can refinance and recover your initial deposit. This process can help you build a property portfolio more quickly than waiting to save enough cash for each purchase. However, it's crucial to find the right property and secure the proper financing to ensure a successful investment.

    • Buying properties below market value and refurbishing for returnsFinding bargain-priced properties for investment can be tough, but refurbishing them with bridging finance can lead to quicker returns. Ensure a 25% margin on each property and remortgage to fund the next purchase.

      Buying properties below market value and doing some refurbishment work can lead to significant returns through property investment. However, finding such properties can be challenging. If you manage to buy a property at a bargain price without needing any work, it may take around 2 years to see an uplift in its value due to the cautiousness of surveyors. But if you're doing some refurbishment work, you can use a bridge to term product to access the funds for the work and start seeing returns sooner. It's important to note that you can remortgage your property within 6 months to fund the next purchase, allowing you to acquire multiple properties in a year. When buying a property with bridging finance, you typically need to put down a 25% deposit, but you may be able to get additional funds to cover the cost of refurbishments. The key is to ensure you have a 25% margin on each property and get all your money back out as quickly as possible to fund the next purchase.

    • Securing Financing for Property RenovationsFind the right property, secure financing, and have a contingency fund for unexpected issues during renovations. Keep detailed records for lenders.

      It is possible to secure 100% financing for property renovation projects in the short-term finance market. With numerous lenders competing for business, there are products available to cover the entire cost of building works, although they may not come cheap. Finding the right property is the most challenging aspect of this business. Utilize property sources, scour auctions, and keep an eye on Rightmove and estate agents' listings. Be quick and persistent, as competition can be fierce. Once you've secured a property and deposit, ensure you have a contingency fund for unexpected issues during the renovation process. Keep receipts, invoices, and photographic evidence of the work to provide evidence of value increase to the lenders. Remember, securing financing and finding the property are crucial steps, but having a contingency plan and solid documentation are equally important.

    • Maximize Your Property Investment SuccessThoroughly research potential properties, calculate rental stress, consult with a mortgage advisor, and secure financing to increase chances of a successful property investment. Be aware of varying lender requirements and potential risks.

      As a property investor, keeping accurate records of costs and thorough research are crucial. You are essentially the project manager, and lenders will want proof that you've done the job correctly and followed through on your plans. When making a purchase, research your area, calculate rental stress, and consult with your mortgage advisor. Leaving money in a property can hinder your next investment. Be aware that different lenders have varying requirements and lending amounts. A successful strategy involves finding the right property, doing all necessary checks, and securing financing. However, potential risks include delays from hiring the wrong builder or contractors, which can lead to financial penalties. Always do your due diligence to minimize these risks.

    • Quality over cost in bridge financingFocus on reliable service, ask for references, conduct surveys, manage time effectively, and communicate clearly for successful bridge financing.

      When it comes to property investment through bridge financing, it's crucial to prioritize quality over cost. Don't focus solely on the lowest price; instead, ensure the service is reliable. Ask for references and previous client testimonials. Always have a survey done beforehand, especially when buying from auctions. Time management is also essential, as you should communicate effectively with your mortgage adviser about your desired speed and exit strategy. By focusing on research, time, and communication, you can successfully navigate the bridge financing process and build a property portfolio faster, despite the additional work and risks involved.

    • Making informed decisions and taking action in property investmentWith the right knowledge, strategy, and support, individuals can make significant progress towards their financial goals and potentially achieve the flexibility and freedom they desire in the property market

      With a clear financial goal and a solid understanding of the property investment strategy and financing options, individuals can make significant progress towards financial freedom and potentially leave jobs they dislike. The finance aspect of property investment is easier than one might think, and there are numerous products available in the short-term finance market to cover the costs of necessary repairs and improvements. However, it's crucial to work with a knowledgeable mortgage broker who understands this strategy and can provide guidance. Steve, a listener of the podcast, shared his own experience of being inspired by the podcast to expand his property portfolio despite recent tax changes. He was able to buy a new property and remortgage another one, enabling him to go full-time into property investment. This is a testament to the life-changing potential of making informed decisions and taking action in the property market. Overall, the key takeaway is that with the right knowledge, strategy, and support, individuals can make significant progress towards their financial goals and potentially achieve the flexibility and freedom they desire.

    • Stay informed and curious during leisure timeDon't let negative headlines or outside noise deter you from exploring opportunities further. Stay informed and curious, even during leisure time, for both entertainment and education.

      It's important not to be swayed by negative headlines or outside noise, and instead, take the time to dig deeper and explore opportunities further. This was highlighted in the story shared about Beisler, who might have given up on his dream based on misinformation. Additionally, the recommendation was given to listen to the audiobook "The Spy and the Traitor" during the summer holidays for a gripping and educational experience. The story of a Cold War spy not only provides entertainment but also teaches valuable historical insights. Overall, the message is to stay informed and curious, even during leisure time.

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    Transcript

    00:00:00 - 00:00:05
    Welcome to the Dream Home movement. This's your weekly dose of home
    00:00:05 - 00:00:11
    and property inspiration. Bring you clever tips and advice from the very best
    00:00:11 - 00:00:20
    experts. And really like Renno storeys with your host, Joe Violeta. Welcome
    00:00:20 - 00:00:23
    back to the Dream Home Movement. You're here with me, your host job,
    00:00:23 - 00:00:29
    Violet. And tonight we are talking about repurpose ing materials for your
    00:00:29 - 00:00:35
    renovation and for home improvements. So to help me of that topic, I have
    00:00:35 - 00:00:41
    Anne and her husband, Shane, from salvage merchants in the studio. Now
    00:00:41 - 00:00:45
    their business specialises in renovating and making over space is using
    00:00:45 - 00:00:50
    salvaged and repurpose materials. They offer a solution beginning from design
    00:00:50 - 00:00:54
    right through to implementation and everything in between. They're
    00:00:54 - 00:00:59
    completely hands on from beginning to end, and they don't mind getting their
    00:00:59 - 00:01:06
    hands dirty to truly crypt create beautiful, sustainable spaces for their client.
    00:01:06 - 00:01:12
    Welcome to the studio. It's lovely to have you here, and I think what we might
    00:01:12 - 00:01:16
    start off where before we get stuck into the nitty gritty because we're going to
    00:01:16 - 00:01:20
    look at what sort of materials you can use when you're repurpose ing for
    00:01:20 - 00:01:24
    renovation. Home improvement. We're going toe. I'm going to pick anyone
    00:01:24 - 00:01:33
    Shane's brains for tips that you can use and also look at mistakes that people
    00:01:33 - 00:01:37
    make when they're using repurposed materials. We're going to look at all that
    00:01:37 - 00:01:42
    stuff is loads of value in this episode. But before we get started, what led you
    00:01:42 - 00:01:47
    to create a business that uses repurpose ing for renovation and home
    00:01:47 - 00:01:53
    improvement? So why salvage merchants? Joe, we didn't really have a plan,
    00:01:53 - 00:01:58
    to be honest almost two years ago, we were both feeling pretty dissatisfied
    00:01:58 - 00:02:05
    with the 9 to 5 grind, and we just had a desire Teo work together. We've got
    00:02:05 - 00:02:10
    what we consider a pretty unique combined skill set, and we work really well
    00:02:10 - 00:02:15
    as a team. And so this was something we wanted to have a go it. We weren't
    00:02:15 - 00:02:18
    exactly sure what salvage merchants would look like, and it has certainly
    00:02:18 - 00:02:26
    changed in the two short years we've been going. But at the rial heart of our
    00:02:26 - 00:02:31
    business was a passion to churn a little more gently on this earth and which we
    00:02:31 - 00:02:37
    are doing in our home life. But doing it our business life as well. I absolutely
    00:02:37 - 00:02:42
    love that, and there does seem to be a riel movement at the moment towards
    00:02:42 - 00:02:48
    more sustainable living and particularly it comes to crew creating homes with
    00:02:48 - 00:02:53
    here on the peninsula. There's definitely a move towards using more
    00:02:53 - 00:02:58
    environmentally friendly materials. Ram Jeff Walls, for example. So I love
    00:02:58 - 00:03:04
    that. That's one of the inspirations behind your business. So what kind of
    00:03:04 - 00:03:12
    materials do you repurpose anything from furniture? Anything from building
    00:03:12 - 00:03:18
    materials, doors, windows. There is so much out there to be used, and I see it
    00:03:18 - 00:03:22
    every day because we look for it and it sze everywhere and everyone's
    00:03:22 - 00:03:30
    backyard or so one of the main basis off our business is to reuse repurpose. So
    00:03:30 - 00:03:33
    find something that you've already got or something that already exists instead
    00:03:33 - 00:03:38
    of going out and buying the new all the time. So we work around sourcing
    00:03:38 - 00:03:43
    materials. That would be, as I said, furniture from antique shops, vintage
    00:03:43 - 00:03:48
    shops, anything that takes your fancy, and you, Khun with the styles, he says
    00:03:48 - 00:03:51
    you can mix all that up so we look for that and we also looked for building
    00:03:51 - 00:03:54
    materials from wrecking yards, houses getting knocked down, a ll the time we
    00:03:54 - 00:03:59
    see them beautiful houses knocked down and then something a big box built
    00:03:59 - 00:04:03
    back up there and nothing reused, and it's quite sad to see it all go to waste.
    00:04:03 - 00:04:07
    So anything from anything from furniture at the end of the smallest piece,
    00:04:07 - 00:04:12
    right up to a whole house full of full of gear that we use, that's it. Basically.
    00:04:12 - 00:04:19
    Wow. So it Khun Bay furniture. It could be building materials like tiles.
    00:04:19 - 00:04:22
    Would trials are hard won. Yeah, and it's one of the hard ones to get up. But
    00:04:22 - 00:04:28
    timber flooring, skirting boards, doors, windows A ll, that sort of thing. Yes,
    00:04:28 - 00:04:32
    yes, they're pretty much anything. Get out of the house without breaking it is
    00:04:32 - 00:04:38
    reusable. Wow, that's amazing. And I greet is really sad. You do see a lot of
    00:04:38 - 00:04:44
    beautiful mid century homes, older homes, beautiful with sometimes a
    00:04:44 - 00:04:50
    beautiful art Deco features and they just ripped down on. We put four town
    00:04:50 - 00:04:55
    houses on top of where they, which is fine, like, you know, I totally get that.
    00:04:55 - 00:05:01
    We want to develop affordable housing and invest in property and all that sort
    00:05:01 - 00:05:06
    of stuff. But it is sad if that's right down and then nothing is. It's just gone
    00:05:06 - 00:05:13
    completely. Yes, so do you have any tips for people who would like to use
    00:05:13 - 00:05:18
    repurpose and up cycled materials in their homes that they want to do a bit of d
    00:05:18 - 00:05:24
    I y Yeah, look, I think for a lot of us, we all think everything's too hard, and
    00:05:24 - 00:05:28
    so there's a lot of procrastination and nothing happened. So my advice, really,
    00:05:28 - 00:05:32
    just like our business is, Just have a go. You know, there's so much to be
    00:05:32 - 00:05:37
    learned out there. We're so fortunate with the Internet, with Pinterest YouTube
    00:05:37 - 00:05:44
    all those avenues available, asked to us tto learn and to explore different uses S
    00:05:44 - 00:05:49
    O if you've got something that you love and you cherish but sitting in a carbon
    00:05:49 - 00:05:53
    , it's not being used. Just jump on Pinterest, jump on some of those online
    00:05:53 - 00:05:58
    sites and have a look for some ideas and you'll find tutorials. You find all sorts
    00:05:58 - 00:06:05
    of things. Teo learn how how to do things. But yeah, I guess my main advice
    00:06:05 - 00:06:10
    is just have a go. Just give it a crack. What have you got to lose? And
    00:06:10 - 00:06:21
    Pinterest is a great source of inspiration. It's also Rabbit Hole. You can get E
    00:06:21 - 00:06:26
    and I can actually track my life through my boards. You know, 10 years ago it
    00:06:26 - 00:06:34
    was wedding staff and then it's like baby staff. And now it's like cleaning stuff
    00:06:34 - 00:06:44
    , eyes happening to my life. Thea Pinterest is great. Ah, lot of because I get a
    00:06:44 - 00:06:50
    lot of real life. You know, people on the show is just ordinary people that have
    00:06:50 - 00:06:59
    done their own renovations and love them like YouTube. U e. But I really love
    00:06:59 - 00:07:05
    that. Just give it a go. Give it a go. You offer a service where you create
    00:07:05 - 00:07:09
    among your other services. You offer a service where you create bespoke
    00:07:09 - 00:07:16
    pieces for your clients. What does that process involve? So, Joe, usually
    00:07:16 - 00:07:22
    what happens is a client will come to us either with an idea or potentially a
    00:07:22 - 00:07:29
    problem that they need solving and to give you an example way really
    00:07:29 - 00:07:34
    encourage our customers to reuse things they've got. And we have beautiful
    00:07:34 - 00:07:37
    customer that we've done quite a few pieces for. And she had her
    00:07:37 - 00:07:44
    grandmother's vintage mix up bench mix up and she'd seen Shane had made a
    00:07:44 - 00:07:50
    similar lamp out of an old mixer in store. We used to have a little retail store,
    00:07:50 - 00:07:54
    which we no longer Joe on DH. She came one day and she said, Look, I've
    00:07:54 - 00:08:00
    got this in the cupboard and I don't use it But I love it and it has great sentiment
    00:08:00 - 00:08:03
    And I said, What? You let us turn it into a lamp on DH? She was just thrilled
    00:08:03 - 00:08:09
    . It just is incredible to see how people feel and the connexion that they have.
    00:08:09 - 00:08:14
    Teo really simple pieces. They don't have to be expensive, but they create true
    00:08:14 - 00:08:18
    meaning. And that's really what we're about. ATT. The moment chains
    00:08:18 - 00:08:24
    building a beautiful outdoor table for some clients who were doing it a big
    00:08:24 - 00:08:29
    outdoor renovation for and they haven't existing table. But they don't love it
    00:08:29 - 00:08:34
    and said, What can we use and way happen? Tohave instructs, um, old
    00:08:34 - 00:08:42
    timber palate pieces. Once of a better word, they were packing pieces of
    00:08:42 - 00:08:46
    packing timbered. These we've little pieces of hacking timber and Shane's
    00:08:46 - 00:08:51
    laminate them all together and made this incredible table on bench seats,
    00:08:51 - 00:08:55
    which they haven't seen yet. So, George, if you're listening, just stand by
    00:08:55 - 00:08:59
    because it was really exciting. Further it, it's just it's beautiful and, you know
    00:08:59 - 00:09:03
    , these are pieces of timber picked up off the side of a road actually by another
    00:09:03 - 00:09:07
    customer of ours who saw them and couldn't let them go to waste loaded them
    00:09:07 - 00:09:10
    up in is you brought them down to us and he said, Hey, guys, could you we
    00:09:10 - 00:09:14
    use them We said, Well, not now, but we will and we have. And that's
    00:09:14 - 00:09:20
    fantastic. Well, so that they would have ended up in landfill. Correct. And
    00:09:20 - 00:09:27
    now can we just go back to the mix up? Hold on What? The mix. It became a
    00:09:27 - 00:09:36
    lamb mixture like a MENSA and then e a nick so that you make cakes. We do
    00:09:36 - 00:09:41
    that, um, insight still into elect. You know, the ones that used to be, oh,
    00:09:41 - 00:09:45
    handled. It's great looking pieces, but no one knows what they're doing
    00:09:45 - 00:09:51
    because it's all electric these days. So turned into a lamp so you could have
    00:09:51 - 00:09:56
    something at home that has great sentimental value. But there's no riel
    00:09:56 - 00:10:03
    everyday use for it. You'd like to be able to see it or use it or borrow, and you
    00:10:03 - 00:10:07
    could go. We could got come to you and just say, this is what I've got what
    00:10:07 - 00:10:14
    can what do you believe that one of the favourite lance that chains made was a
    00:10:14 - 00:10:19
    old silver tea set. So the coffee part in the Sugar Bowl and Crema and hey
    00:10:19 - 00:10:24
    stepped it all up into a beautiful, beautiful lamp. And you know that that was
    00:10:24 - 00:10:27
    something that belonged to somebody that was sitting in a cupboard not being
    00:10:27 - 00:10:34
    used. And now it's enjoyed every day. I love that. That is so very clever. Are
    00:10:34 - 00:10:40
    there any other very special bespoke pieces that you've created for a client that
    00:10:40 - 00:10:47
    really stand out for year? Look, the ultimate is a complete cottage. So we
    00:10:47 - 00:10:53
    were very fortunate, really Early in our business, Tio have been contacted by
    00:10:53 - 00:10:59
    some some people that we knew through through other connexions and they
    00:10:59 - 00:11:02
    asked us for some input into little cottage. They have down here on the
    00:11:02 - 00:11:08
    Mornington Peninsula on their property and we're looking at ways Teo utilise
    00:11:08 - 00:11:12
    that space and I don't think either of us. We're quite sure what we're going to
    00:11:12 - 00:11:16
    do. And we put together some ideas and basically they turned around and said
    00:11:16 - 00:11:22
    , Yes, Tio, what we propose, which was back in that day, a Pinterest board
    00:11:22 - 00:11:28
    and with great faith and trust in us. These incredible people literally and
    00:11:28 - 00:11:34
    figuratively handed us the keys to their property and said, Do what you like
    00:11:34 - 00:11:40
    and we delivered them. And Airbnb business full off completely bespoke
    00:11:40 - 00:11:44
    pieces. So speaking about Lance being made, they've got a beautiful little old
    00:11:44 - 00:11:51
    bell in the on sweet that's made from a light Sorry, that's made from a bell.
    00:11:51 - 00:11:57
    The vanity sink in the bathroom is an old jam, copper posh on DH. Pretty
    00:11:57 - 00:12:02
    much everything in that cottage was either secondhand or actually belonged to
    00:12:02 - 00:12:08
    the clients and had been repurposed or part from mattresses and linen, which
    00:12:08 - 00:12:15
    we really don't go second hand on fair. Everything else was created by us, so
    00:12:15 - 00:12:21
    it's a complete bespoke solution for them, and we're just so incredibly proud of
    00:12:21 - 00:12:26
    it. And so, you know, thrilled that somebody would have that trust Eunice
    00:12:26 - 00:12:32
    Teo build a business for them like that. Have I seen photos of that little Jack
    00:12:32 - 00:12:40
    cottage? So if you're listening to the live show head on over Teo, either goatee
    00:12:40 - 00:12:46
    instagram and go to either the Dream Home Movement page, the latest couple
    00:12:46 - 00:12:54
    of posts the Jack Cottage or go to is it salvage merchants. Yet on Instagram,
    00:12:54 - 00:13:00
    and I'm pretty sure that was one of your most recent posts as well was the Jack
    00:13:00 - 00:13:05
    If you go on overto ira, go to both instagram accounts and have a look and you
    00:13:05 - 00:13:11
    you will see just how gorgeous this piece of I think it's like livable artwork. To
    00:13:11 - 00:13:15
    be honest with you, I was really quite stunned. You may have noticed I went a
    00:13:15 - 00:13:21
    little bit over the top with Instagram storeys that cottage this week. It's
    00:13:21 - 00:13:25
    gorgeous and people can stay. There certainly can, eh? So what, They just
    00:13:25 - 00:13:31
    look up Jack Cottage Instagram. It's Jack Underscore Cottage and got the most
    00:13:31 - 00:13:36
    beautiful garden surrounds Just down in Somerville on DH. It's a really
    00:13:36 - 00:13:40
    beautiful place to start. Hell over. There we go. You just get your clients a
    00:13:40 - 00:13:51
    little Ah, that sounds amazing. And to be given creative licence is amazing On
    00:13:51 - 00:13:56
    the topic off Airbnb Tze and bed and breakfasts and that sort of thing the
    00:13:56 - 00:14:02
    peninsula is brimming with holiday rentals. I just stayed in a gorgeous one in
    00:14:02 - 00:14:07
    German or a couple of weeks ago, but there's just so many Airbnb. He's on the
    00:14:07 - 00:14:13
    peninsula, and I was doing a bit of research for this episode, and I noticed that
    00:14:13 - 00:14:19
    you've got a service called the Elevate BNB service, which I think would be
    00:14:19 - 00:14:24
    perfect for the peninsula. All these Airbnb he's on the peninsula. So can you
    00:14:24 - 00:14:30
    tell us about that that service? What? What does it involve? Sure, So it's a
    00:14:30 - 00:14:35
    service that we provide. And Jack Cottage was really eye opening for us and
    00:14:35 - 00:14:41
    was footing the door to the short term rental market. And we just absolutely
    00:14:41 - 00:14:48
    love it and very keen to provide experiences for people and help people that
    00:14:48 - 00:14:54
    already have event. These short term rentals really elevate their experience
    00:14:54 - 00:14:58
    because there are some horror storeys out. There s o the service that we offer
    00:14:58 - 00:15:05
    provides. It's going to have a look at the property and really looking at every
    00:15:05 - 00:15:09
    aspect of the property, from online presence, social media presence,
    00:15:09 - 00:15:17
    photography and imagery of the cottage pricing structure right through
    00:15:17 - 00:15:25
    everything to do with with house manuals, all sorts of tips and tricks that we
    00:15:25 - 00:15:29
    know. We've spent a lot of time on a lot of energy and researching thiss field.
    00:15:29 - 00:15:35
    So we go and we then compare this property with other comparable listings in
    00:15:35 - 00:15:40
    the immediate area. So if it's a two bedroom sleep, small people, we would
    00:15:40 - 00:15:44
    We would present a really comprehensive report of recommendations based on
    00:15:44 - 00:15:48
    comparable process properties where where we feel your property could sit
    00:15:48 - 00:15:52
    pricing wise. And you know what? Your occupancy should be sitting out,
    00:15:52 - 00:15:56
    what sort of returns you should be getting. And from there we provide a really
    00:15:56 - 00:16:00
    detailed list of recommendations of what we could do to really get you up to
    00:16:00 - 00:16:05
    that stage. Because, as I'm sure you're an Airbnb user, I'm sure you've looked
    00:16:05 - 00:16:10
    at lots of properties online, looked at an image, and I never stayed there. Yeah
    00:16:10 - 00:16:17
    , and imagery really is the first thing, and it's an easy thing to solve. And so
    00:16:17 - 00:16:22
    we help clients right through every step of that process through the having, as
    00:16:22 - 00:16:27
    we say, having the pantry stopped ready to go. So that's what we offer. We
    00:16:27 - 00:16:31
    provide a report. We come down, we have a look. We provide a report, and
    00:16:31 - 00:16:35
    then you can choose which recommendations you like to pursue from there.
    00:16:35 - 00:16:42
    Wow, that's like a four consultancy services. Well, that's amazing. And so
    00:16:42 - 00:16:47
    needed because the competition is fierce on the peninsula. Yes, a lot of people
    00:16:47 - 00:16:53
    like to holiday here, but there are a lot of being based to compete with. But I
    00:16:53 - 00:17:00
    still think you can make great money if you've got the right product. And yet
    00:17:00 - 00:17:06
    imagery is just so important, isn't it? Absolutely. It's gotto feel like you're
    00:17:06 - 00:17:11
    having a break from reality. You know, you're providing an experienced, you
    00:17:11 - 00:17:15
    get experience. It's not. You're not just doing in somebody's home, you know
    00:17:15 - 00:17:19
    you are or rental or whatever. It's an experience. That's what people want.
    00:17:19 - 00:17:22
    And that's what they should be demanding for the money that they're spending
    00:17:22 - 00:17:27
    something out of the ordinary, something different and unique and spoke on
    00:17:27 - 00:17:31
    DH. That's what we help our clients create. And then they choose the
    00:17:31 - 00:17:36
    recommendation, and then you go and we do and then do it all case. It's
    00:17:36 - 00:17:41
    consultancy, and then it's the actual implementation that's correct, so they can
    00:17:41 - 00:17:45
    take on board a ll the ideas and tips that we give them and do it themselves if
    00:17:45 - 00:17:49
    they work. Ideally, we like to get in there and, you know, get it looking,
    00:17:49 - 00:17:54
    looking good online style, A little bit, you know, with a reasonably low
    00:17:54 - 00:17:59
    budget actually just boost the sales, boost the accommodation and that's what
    00:17:59 - 00:18:03
    it's all about. You wantto you want your business to go online and be
    00:18:03 - 00:18:09
    successful. But if you haven't got a ll these little boxes ticked. It's really hard.
    00:18:09 - 00:18:13
    A CZ, you said with with all the other ones around. It's just so hard to get into
    00:18:13 - 00:18:20
    the market. And the competition's pretty and you're styling is on point as well.
    00:18:20 - 00:18:26
    Who's in charge of the styling? E. Try really? D'oh! And I'll put something
    00:18:26 - 00:18:29
    on or move something. Sure, she'll look at it and I go, What do you think?
    00:18:29 - 00:18:34
    And she just gives me this little look and I go, It's no good. So I just leave that
    00:18:34 - 00:18:38
    to her most of the time. You know, right from when I get up in the morning
    00:18:38 - 00:18:42
    and I'll set up the pillows on the bed and all that sort of thing and ensure
    00:18:42 - 00:18:46
    passing. Just look at it and I just still haven't got It just happened. So that's a
    00:18:46 - 00:18:50
    no on the duo are put things together. I screw things together and now things
    00:18:50 - 00:18:54
    and paint things and and she does to you. We both get into the into the tools
    00:18:54 - 00:19:02
    and all that sort of thing. But stylist Shane you and I like birds of a feather
    00:19:02 - 00:19:07
    soon because I just don't know what looks good with what? That's why I think
    00:19:07 - 00:19:10
    that's why I started this show so I could make friends. Have lots of stylists like
    00:19:10 - 00:19:16
    send them photos of my housing. Is this right with you on? And he says, I
    00:19:16 - 00:19:20
    want this make this like the last year she said to me, I want a Christmas tree
    00:19:20 - 00:19:24
    made out of fence pickets like, you know, the old style. Oh, cool. And she
    00:19:24 - 00:19:29
    said, He's the pickets and Christmas Trail. Okay, sat down and come back
    00:19:29 - 00:19:32
    and see. What do you think of this? You know, you're not too bad, but
    00:19:32 - 00:19:36
    changes and change that took it away again. Come back. What do you think?
    00:19:36 - 00:19:40
    I think that's really close. But you just need this and then it'll come together.
    00:19:40 - 00:19:46
    So I'm on the tools, but she's got putting himself down a lot. He has an
    00:19:46 - 00:19:50
    incredible creative. Yeah, that is honestly the real reason why we wanted to do
    00:19:50 - 00:19:55
    something together. He's got He may not know how to fluff a pillow or use
    00:19:55 - 00:20:01
    your room. That's so he does have a really great creative eye on. So
    00:20:01 - 00:20:06
    everything we do really is a combined effort way bounce ideas off off each
    00:20:06 - 00:20:11
    other all the time, and I just I just want to add about that elevates service, You
    00:20:11 - 00:20:16
    know, what I really want to say is at the heart of that whole service is the ethos
    00:20:16 - 00:20:21
    of our business, and it is reused. And so we don't come in and go and get rid
    00:20:21 - 00:20:26
    of every piece of furniture. That's just not who, Where about where about
    00:20:26 - 00:20:29
    what else have you got? What have you got hiding in the garage that I can use
    00:20:29 - 00:20:34
    ? What can I say? You know, throw a lick of paint on to completely transform
    00:20:34 - 00:20:40
    that. So it's very much of the core of everything we do is our reuse repurpose
    00:20:40 - 00:20:44
    philosophy. I love that, and I just love how complimentary you are of each
    00:20:44 - 00:20:54
    other as well. I wish everyone could see in the studio that is like smiling. But
    00:20:54 - 00:20:59
    I do really appreciate the fact that you can transform and Airbnb or a home, for
    00:20:59 - 00:21:04
    example, and use stuff that you already have. We don't realise what treasures?
    00:21:04 - 00:21:08
    We've got it. You can buy it anymore. You just can't find all this stuff. You
    00:21:08 - 00:21:12
    can go into your stores so the name but and you could get a piece of furniture.
    00:21:12 - 00:21:17
    But if you go put that piece of furniture out on the front lawn and it rains on it,
    00:21:17 - 00:21:22
    it's gone. You know where some of the old stuff is just so good. And it's
    00:21:22 - 00:21:26
    coming back in, and we are. There is a turn. There's a really big shift, I think
    00:21:26 - 00:21:30
    . And we're right at the start of it because, you know, the planets all going Tio
    00:21:30 - 00:21:35
    , you know, and we're all going to get in and work out ways of doing it. And
    00:21:35 - 00:21:40
    it'll happen. It's all goingto have tto happen where we all have to actually think
    00:21:40 - 00:21:44
    about what we're actually doing day to day. Yeah, yeah, we do. Yeah, And it
    00:21:44 - 00:21:50
    is I feel like that shift is happening. I d'oh, it's very slow yet, and we're really
    00:21:50 - 00:21:56
    at the start of it. But for a long time, I didn't make a lot of changes and we
    00:21:56 - 00:22:00
    didn't as a family make a lot of changes because we all feel so overwhelmed by
    00:22:00 - 00:22:04
    how much we should be doing. And then we just made a decision as a family,
    00:22:04 - 00:22:09
    you know, progression over perfection, progression over perfection every day
    00:22:09 - 00:22:15
    . You know, if I'm better than I was six months ago, Better than I was child
    00:22:15 - 00:22:20
    months ago. We all still got a long way to go. But we've just got to try. Yeah,
    00:22:20 - 00:22:26
    I love that message. I did have Andrea from roving refills Frankston in the
    00:22:26 - 00:22:31
    studio a few months ago. She and she has a blood caught on wasteful Andrea.
    00:22:31 - 00:22:37
    And she has that same message that we get too caught up with trying to be
    00:22:37 - 00:22:42
    perfect when it comes to sustainability and reducing waste that then people just
    00:22:42 - 00:22:48
    do that. Then they become paralysed and do nothing but small changes. They
    00:22:48 - 00:22:53
    do actually add up, and they are quite significant. Don't worry. Andrew is not
    00:22:53 - 00:23:05
    . She's not perfect. No one. Every day we're still changing. We're still
    00:23:05 - 00:23:08
    becoming aware of what we're doing, and we still may. We can change that
    00:23:08 - 00:23:13
    now and, you know, and what a lover. And she'll go out and forget to take the
    00:23:13 - 00:23:16
    shopping bags with their and she'll come home with a plastic shopping where
    00:23:16 - 00:23:20
    get again and you know, you just come on and you know, the younger
    00:23:20 - 00:23:25
    generation of you got to save themselves a cz well, but yeah, and we do. We
    00:23:25 - 00:23:28
    keep making those mistakes, and sometimes you have to. You can't bring
    00:23:28 - 00:23:34
    them 20. Apple's a bag. That's fair enough. You just gotto practise it. I think
    00:23:34 - 00:23:38
    we're all gonna practise, and we'll get there eventually. What are some of the
    00:23:38 - 00:23:42
    mistakes that people make when they are using repurposed materials in in their
    00:23:42 - 00:23:46
    home? And how can they avoid those mistakes? I think one of the biggest
    00:23:46 - 00:23:51
    ones is people think it's going to be cheaper, which is not always going to be a
    00:23:51 - 00:23:58
    it. Generally it is. But if you're going to go out and buy a sticker timber from
    00:23:58 - 00:24:02
    Bunning's, it's quick. It's easy. It's reasonably cheap, and it really is. But it's
    00:24:02 - 00:24:06
    not about saving money for us. It's more about saving the earth at the end of
    00:24:06 - 00:24:11
    the day, so don't make that mistake. You think it's going to be cheaper because
    00:24:11 - 00:24:14
    quite often you'll go out and buy a piece and have to bring it back and modify it
    00:24:14 - 00:24:19
    and change it or sand it back or painted or whatever it is S O that's that's the
    00:24:19 - 00:24:26
    first thing it's never, never, never, always cheap. So that's one of the other
    00:24:26 - 00:24:31
    thing would be If it's out of your depth, just don't do it way. Can't do
    00:24:31 - 00:24:34
    everything. We can't do everything but have a go. If it's something that is
    00:24:34 - 00:24:38
    qualified tradesman like Electrician's or plumber and all that sort of thing,
    00:24:38 - 00:24:42
    they're the things that don't like to touch. I do a little bit of election electrical
    00:24:42 - 00:24:48
    work, but it's all well within my scope of skills and always get it checked by
    00:24:48 - 00:24:51
    an electrician's anyway. So I'll get it tested and tag in the light special with my
    00:24:51 - 00:24:58
    lamps and things like that s o that sze another thing have ago. But, you know,
    00:24:58 - 00:25:03
    make sure you're not well, you know, out of your depth on I think the third
    00:25:03 - 00:25:08
    more third thing, I think, was if you really need it done, if the biggest mistake
    00:25:08 - 00:25:16
    is if you haven't called us, that's a really I think that's a thing call and we'll get
    00:25:16 - 00:25:21
    it sorted for you. You know, the D I Y things is massive. Now it's you see it
    00:25:21 - 00:25:25
    on TV. Everywhere people are getting in, getting their hands dirty and having
    00:25:25 - 00:25:31
    go and it sze really a big achievement when you do something yourself and
    00:25:31 - 00:25:35
    there's plenty of help that out there A said YouTube. Get on there, you learn
    00:25:35 - 00:25:39
    how to do anything. I taught myself how to play the piano off YouTube, you
    00:25:39 - 00:25:43
    know, all rose sorts of things. And the other day I was out there learning how
    00:25:43 - 00:25:47
    to fix my car. There's something broke on it, and I fixed it. You know, it's I
    00:25:47 - 00:25:53
    didn't have to send it off and pay top dollar to get it fixed. So there's things
    00:25:53 - 00:25:58
    like that. So I have a go at it on DH. Enjoy what you do, Teo. That's what it
    00:25:58 - 00:26:02
    comes down to us. We really enjoy fixing things, and I'm Mr fix it. I just love
    00:26:02 - 00:26:05
    getting in there and getting something sold in solving problems for people. I
    00:26:05 - 00:26:11
    love that. So the biggest mistakes. Number one, not having an understanding
    00:26:11 - 00:26:15
    of your budget. When you when you embark on these projects, it just just cost
    00:26:15 - 00:26:24
    it up. So you understand how much it's going to cost and number two is trying
    00:26:24 - 00:26:27
    to do things that are actually out of your depth, and that's a message that we
    00:26:27 - 00:26:32
    share a lot on the show is that day. I was great, but there are certain things that
    00:26:32 - 00:26:37
    you actually need a qualified trades person. And also, I think, something that
    00:26:37 - 00:26:43
    I see when I watch shame, work, a cz his apprentice. But I would quite often
    00:26:43 - 00:26:47
    say to him, are We're just, you know, we just need to pop that door on there.
    00:26:47 - 00:26:50
    Or I think sometimes people underestimate that, particularly when you're
    00:26:50 - 00:26:55
    working with salvage materials. You're starting with something that perhaps
    00:26:55 - 00:26:59
    not the correct size to go in that area. It's it's not the correct think nurse. The
    00:26:59 - 00:27:04
    hinges air in a different spot. All those sorts of things that you think way have
    00:27:04 - 00:27:08
    a bit of a joke amongst ourselves. He always says, Yeah, I'll just put it in. It's
    00:27:08 - 00:27:16
    just four screws, darling e like No, it's not, is it? And Weigh replaced a door
    00:27:16 - 00:27:23
    for a client recently in her home, and it was a full day's work because we
    00:27:23 - 00:27:28
    bought a second hand or for her, and the whole jam had to be modified and
    00:27:28 - 00:27:32
    that's fine. That's exactly what we love doing. But I think people sometimes
    00:27:32 - 00:27:37
    under Estrada, underestimate how much time and effort is involved in using
    00:27:37 - 00:27:40
    salvage materials. Which brings us to mistake number three, which is not
    00:27:40 - 00:27:47
    calling. So before we get to our signature questions, let's just tell people how
    00:27:47 - 00:27:51
    they can fix mistake number three, which is how would they get in contact
    00:27:51 - 00:27:56
    with you so you can jump on? All our socials are at salvage merchants on
    00:27:56 - 00:28:00
    Facebook and Instagram, or you can find us on our website salvage merchants
    00:28:00 - 00:28:03
    dot com dot you. We're just based in Maadi, Alex. So we're just up the road
    00:28:03 - 00:28:06
    from the peninsula and we do a lot of work down this way, and we always
    00:28:06 - 00:28:11
    enjoy hopping on Peninsula linked to come down here for the day. So, yeah,
    00:28:11 - 00:28:15
    just give us a call. We'd love to chat when love to visit people's homes. We'd
    00:28:15 - 00:28:19
    love to see how people live and listen to their ideas and their concepts, and we
    00:28:19 - 00:28:24
    just really enjoy working. Their business attracts the most incredible people,
    00:28:24 - 00:28:29
    and we're really fortunate in that way really like minded people. So, Richard
    00:28:29 - 00:28:33
    Yeah, the results are stunning. Do make sure that you pop on over and cheque
    00:28:33 - 00:28:39
    out those socials and the website. All right, signature questions. What is your
    00:28:39 - 00:28:44
    favourite? Thiss question was made for you. Thiss question was made for you
    00:28:44 - 00:28:48
    . What is your favourite interior design or architectural style from a bygone era
    00:28:48 - 00:28:56
    ? Well, I'd have to say as owners are very owners are. What's a CZ?
    00:28:56 - 00:29:02
    Custodians of 150 year old church would have to say. It's a Victorian era. We
    00:29:02 - 00:29:07
    have very fortunate to have a beautiful little church out past Bella Rat that
    00:29:07 - 00:29:16
    we're currently renovating to be an Airbnb for people and just that era off. It
    00:29:16 - 00:29:21
    was a really tough time in Australia, the gold rush, and we look at our little
    00:29:21 - 00:29:28
    church that is five metres high, the roof at the lowest points, five minutes high
    00:29:28 - 00:29:35
    , and this was all built by men from ladders with hand tools. And so just I
    00:29:35 - 00:29:41
    guess for me it's the appreciation off that the love and the dedication and the
    00:29:41 - 00:29:46
    care that went into buildings of that time and they are beautiful and detailed,
    00:29:46 - 00:29:51
    and it was done by hand. And that's just incredible to may. So with all that
    00:29:51 - 00:29:56
    preserving that it is incredible, isn't it? You know, we need to preserve those
    00:29:56 - 00:30:01
    sorts of buildings and that history we cannot lose that it's so important. What
    00:30:01 - 00:30:08
    does the phrase dream home mean to you? Oh, he's looking at May E May.
    00:30:08 - 00:30:13
    Well, certainly a dream. Hofer may. It's not for walls, and it never has been.
    00:30:13 - 00:30:19
    I've lived in beautiful homes. I've lived in plane, home, small homes and my
    00:30:19 - 00:30:27
    dream home is the people within a on the people that I cherish. And the items
    00:30:27 - 00:30:31
    within that means something to me that have value. Having said that, though,
    00:30:31 - 00:30:34
    Joe I have it. I have got a bit of a Pinterest board going because we have a
    00:30:34 - 00:30:39
    mutual prince Pinterest, love and Shay and I worked very hard on our Pinterest
    00:30:39 - 00:30:42
    board for our dream home property that, you know in the future will look
    00:30:42 - 00:30:48
    something like a rambling country estate with workshops being held and
    00:30:48 - 00:30:52
    community gatherings. And that's what our plan for our dream home is. But
    00:30:52 - 00:30:58
    you know, right now we live in a factory and it's unreal, and it contains
    00:30:58 - 00:31:04
    everyone that I love. That's my dream Home contains everyone that I love. I
    00:31:04 - 00:31:14
    can't wait to see your rambling one well again. If you want to find any in
    00:31:14 - 00:31:20
    Shane, you Khun, go to salvage merchants on Instagram and Facebook or all
    00:31:20 - 00:31:26
    the W's salvage merchants dot com dot a. You got that right. Great. Thank
    00:31:26 - 00:31:31
    you so much for coming in to the studio that was so informative, super
    00:31:31 - 00:31:36
    valuable and really inspiring. Thank you, Joe. It's been a real pleasure to be
    00:31:36 - 00:31:42
    here, and we just love being able to get a message out to people. Thanks for
    00:31:42 - 00:31:46
    joining us on the Dream home movement. Be sure to come over and say hi on
    00:31:46 - 00:31:51
    Facebook and Instagram. I hope that your dream home projects are going well
    00:31:51 - 00:31:54
    and I look forward to chatting with you again next week.

    Is it harder to get a home loan now with Carl Violeta

    Is it harder to get a home loan now with Carl Violeta
    With COVID-19 restrictions and tightened lender criteria, some people are reporting that it may be more tricky to secure a home loan. But is that true, or is it just our perception?

    In this episode we look at :

    • Whether COVID-19 restrictions have made it harder to secure a home loan
    • Whether banks are being stricter when they assess home loan applications
    • How long it's taking banks to assess and process loan applications
    • What types of home loans and mortgages are harder to get approved
    • How to make it easier for the bank to assess and process your home loan application

    Follow the Dream Home Movement

    Follow Carl and Jo Violeta

    Guest bio

    Carl’s an award-winning Mortgage Broker and the Founder of Violeta Finance.

    Carl believes that every family should have a fair opportunity to achieve their homeownership and finance dreams. He can help you buy your next home or save money by refinancing. Carl specialises in helping first time investors buy their first investment property and securing finance for small business owners.

    When he’s not helping people find the right loan for their circumstances, Carl loves hanging out with his wife and two kids, watching his beloved Chicago Bulls play, and heading out to the golf course.



    Transcript

    *This transcript is automated, so may not be 100% accurate*

    00:00:00 - 00:00:05
    In this special bonus episode of the Dream Home Movement, we look at

    00:00:05 - 00:00:11
    whether or not it's harder to get a home loan now. With COVID-19 restrictions

    00:00:11 - 00:00:18
    and tightened lending criteria, some people are reporting that it may be more

    00:00:18 - 00:00:23
    tricky to get a home loan. But is that true, or is it just our perception?

    00:00:23 - 00:00:28
    To answer that question. I've invited a special guest and experienced Mortgage

    00:00:28 - 00:00:33
    Broker Carl Violeta, he also happens to be my husband onto the show.

    00:00:33 - 00:00:38
    Welcome to the Dream Home Movement. This is your weekly dose of home

    00:00:38 - 00:00:43
    and property inspiration, bringing you clever tips and advice from the very

    00:00:43 - 00:00:49
    best experts. And real life like Renno stories with your host, Jo Violeta.

    00:00:49 - 00:00:54
    Thank you for tuning in to this special bonus episode of the Dream Home

    00:00:54 - 00:00:58
    Movement. Now if we haven't met before. Hello, My name's Jo Violeta, and I

    00:00:58 - 00:01:04
    co-own a successful award winning mortgage brokerage with my husband carl.

    00:01:04 - 00:01:09
    It is Violeta Finance, and this episode is brought to you by Violeta

    00:01:09 - 00:01:14
    Finance. If you need help securing a home loan, refinancing your Mortgage or

    00:01:14 - 00:01:21
    organising a loan for your investment property. We would love to help

    00:01:21 - 00:01:27
    you. Now just to let you know who we are still in the midst of the COVID-19

    00:01:27 - 00:01:32
    restrictions here in Melbourne and that means that we are working from

    00:01:32 - 00:01:37
    home in very close quarters. So if you hear any background noises on this

    00:01:37 - 00:01:43
    episode, maybe kids doing crafts or playing or some typing or something like

    00:01:43 - 00:01:49
    that, it is because we are all working from home and also because of the COVID-19

    00:01:49 - 00:01:53
    restrictions. I don't have access to the usual recording equipment that I

    00:01:53 - 00:01:58
    would use for the podcast. I can't go to the radio station. I can't get into the

    00:01:58 - 00:02:05
    office to access my hi-tech equipment. So Carl and I huddled over a desk and a

    00:02:05 - 00:02:11
    microphone at home together, trying to record this episode for you.

    00:02:11 - 00:02:15
    Welcome to the show, Carl. It's lovely to have you back on. I haven't had you

    00:02:15 - 00:02:20
    on the show for a while. It has been a little while, and thanks for having me.

    00:02:20 - 00:02:26
    So today we are answering the question. Is it harder to get a home loan right

    00:02:26 - 00:02:32
    now? So let's first of all, look at it from the perspective of COVID-19. So

    00:02:32 - 00:02:37
    we're recording this episode on September 30th. We live in Melbourne in

    00:02:37 - 00:02:45
    Australia, so we are right in the still in the midst of COVID-19 restrictions.

    00:02:45 - 00:02:50
    Have covert COVID-19 restrictions made it harder for people to secure a home loan?

    00:02:50 - 00:02:58
    If a client has been affected by COVID, yes, it has been challenging to get

    00:02:58 - 00:03:05
    loans approved for them. But for other clients that the only effect of COVID

    00:03:05 - 00:03:13
    has been of a personal nature and not a financial nature then no that hasn't

    00:03:13 - 00:03:18
    really been any stoppage of the flow of finance for those types of customers.

    00:03:18 - 00:03:26
    Customers were working in the retail setting in sort of hospitality in the airline

    00:03:26 - 00:03:31
    industry then. Yet those those types of employment and those types of

    00:03:31 - 00:03:36
    customers would find it a bit challenging to try and secure finance. What about

    00:03:36 - 00:03:42
    the way lenders are assessing applications, especially expenses? What I've

    00:03:42 - 00:03:48
    heard is that lenders are going through applications with a fine-tooth comb now

    00:03:48 - 00:03:55
    Have you found that to be the case? It depends on the bank that you

    00:03:55 - 00:04:02
    suggest to the clients. There are banks that will go through bank statements to

    00:04:02 - 00:04:11
    verify living expenses as well as salary credits. But not all banks do do that,

    00:04:11 - 00:04:16
    eh? So, yeah, it really just depends on which path you take the customer in

    00:04:16 - 00:04:22
    relation to bank statements being forensically investigated. And is it just

    00:04:22 - 00:04:25
    the bank statements that they're going through and scrutinising are they

    00:04:25 - 00:04:32
    scrutinising other documents, other evidence or information asking for a lot of

    00:04:32 - 00:04:38
    additional documents, proof, evidence, that sort of thing? For sure, you know

    00:04:38 - 00:04:46
    , with COVID it has definitely added a layer of requirements for all banks, I

    00:04:46 - 00:04:52
    would say, particularly when a borrower self employed, they're now wanting

    00:04:52 - 00:04:58
    to see extra documentations. They just want to make sure that you know the

    00:04:58 - 00:05:05
    borrower's income is online or inline, I should say, than what their

    00:05:05 - 00:05:11
    income tax is suggesting it to be and that they haven't really had too

    00:05:11 - 00:05:16
    much of an impact with with COVID, particularly here in Melbourne, where

    00:05:16 - 00:05:20
    we've been the hardest hit. Yes. Oh, so to answer your question, yes, there

    00:05:20 - 00:05:25
    are a lot more documentations that need to be provided, particularly for self

    00:05:25 - 00:05:30
    employed customers. Okay, so banks are still lending money. If your income

    00:05:30 - 00:05:36
    hasn't been affected by COVID-19 restrictions, you still should be able to

    00:05:36 - 00:05:40
    borrow money. It shouldn't be any harder to borrow money, but the process

    00:05:40 - 00:05:47
    might be more involved, I suppose. It's just a little bit different to what many

    00:05:47 - 00:05:52
    customers might be accustomed to when they applied for finance pre-COVID.

    00:05:52 - 00:05:58
    And yeah, just if you know, if you're in a position to borrow money and

    00:05:58 - 00:06:03
    you know that you can borrow money, then you really got nothing to fear before

    00:06:03 - 00:06:08
    you place an application and if you're going through a broker then a broker's

    00:06:08 - 00:06:14
    going to tell you whether they can get the loan approved or not anyway. So all

    00:06:14 - 00:06:20
    I would say to customers is that you know, don't don't sort of fear the process,

    00:06:20 - 00:06:25
    provided that you know, your employment has been stable, your business

    00:06:25 - 00:06:31
    hasn't been affected and that, you know, you've got sort of strong, strong

    00:06:31 - 00:06:39
    finances going into the application. Okay, good. What about timelines? So is it

    00:06:39 - 00:06:43
    taking longer to get home loans approved? Should people allow a little bit

    00:06:43 - 00:06:49
    more of a time buffer when they're looking to apply for a home loan? I have

    00:06:49 - 00:06:54
    heard that some banks assessment and processing times are a bit longer than

    00:06:54 - 00:06:59
    usual. What's been your experience with that? Yeah, many customers are

    00:06:59 - 00:07:06
    looking to refinance at the moment and, many banks are offering cashback

    00:07:06 - 00:07:14
    offers. So banks that are offering cashbacks their lead times in processing

    00:07:14 - 00:07:21
    loans is not as desirable as other banks that are not offering cashback offers at

    00:07:21 - 00:07:26
    the moment. So again you know a good broker is going to be able to be

    00:07:26 - 00:07:32
    across that with lead times. If you know if your finances pressing, then

    00:07:32 - 00:07:37
    definitely avoid certain banks because you're not going to get the loan processed

    00:07:37 - 00:07:43
    in a timely manner. But if you're after, you know, the cash as part of

    00:07:43 - 00:07:47
    the refinance, let's say then, if you're happy to wait, then you know the

    00:07:47 - 00:07:52
    processing time is what it is. If you're purchasing a property, then definitely

    00:07:52 - 00:07:57
    steer clear of those lenders that are offering cashbacks at the moment,

    00:07:57 - 00:08:01
    particularly when your finances subject to... When your purchase, I should

    00:08:01 - 00:08:07
    say, subject to finance clause, there's nothing worse where a customer has

    00:08:07 - 00:08:12
    been placed with the lender, not knowing that the lead times are not going to

    00:08:12 - 00:08:17
    be able to meet their obligations on the contract when they're buying a house.

    00:08:17 - 00:08:23
    Okay, so a few things. I wanna clarify their cap by cashback that banks

    00:08:23 - 00:08:27
    offering, like a cashback offer. If you get a home loan with them or you

    00:08:27 - 00:08:33
    refinance with them, they'll say, we'll give you, like, $2000 or something

    00:08:33 - 00:08:43
    like that. So a cashback promotion relates to customers who are new to the

    00:08:43 - 00:08:53
    bank and that are refinancing. Okay. The cashback amount does vary it

    00:08:53 - 00:08:58
    varies depending on their loan size, and it also varies on the type of

    00:08:58 - 00:09:06
    bank that you're using. Okay, All right. And also again, apologies

    00:09:06 - 00:09:11
    for the background noises. We are working from home, and we've got little.

    00:09:11 - 00:09:16
    Marcus is trying extremely hard to be quiet. He's doing a wonderful job, isn't

    00:09:16 - 00:09:24
    it? He's a good boy. Just another thing that I wanted to clarify. So when

    00:09:24 - 00:09:28
    you're talking about putting in an offer when you put in an offer for a

    00:09:28 - 00:09:33
    property, if you haven't got a pre-approval on your finance yet, you can put in a

    00:09:33 - 00:09:38
    finance, clause, can't you? Yes, you can. And so you might say it's two

    00:09:38 - 00:09:42
    weeks or three weeks. We usually recommend three weeks, but If you have

    00:09:42 - 00:09:46
    been placed in the lender who's got really long processing times, that could

    00:09:46 - 00:09:51
    jeopardise your offer. So that's yet correct. Yes, you need to be aware of that.

    00:09:51 - 00:09:57
    What are there certain types of mortgages and home loans that are harder to

    00:09:57 - 00:10:01
    get approved? And not just speaking about COVID times, but just in general.

    00:10:01 - 00:10:04
    Are there certain types of mortgages and home loans that had just more

    00:10:04 - 00:10:09
    involved? You know, more workers involved or more paperwork is involved

    00:10:09 - 00:10:13
    there, there it more complex or tricky. A home loan application becomes

    00:10:13 - 00:10:21
    harder when you're asking for for their lending policy to be flexible

    00:10:21 - 00:10:26
    we call that in the industry when you're asking for an exception, that can

    00:10:26 - 00:10:33
    complicate lending assessment. And there could be a good chance that the

    00:10:33 - 00:10:38
    assessor, whoever's picked up the file, may not grant you those

    00:10:38 - 00:10:44
    exceptions. Complicated lending can make the process a little bit more

    00:10:44 - 00:10:50
    complex when, um, a borrower's a trust for an example. There's a lot more

    00:10:50 - 00:10:55
    paperwork that's involved with that kind of loans. There's a lot of

    00:10:55 - 00:11:00
    documentations that needs to be collected from the client to give to the bank.

    00:11:00 - 00:11:09
    Particularly it can complicate the assessment when the details of the

    00:11:09 - 00:11:13
    borrowing entity, in this case, being a trust like this example that I'm

    00:11:13 - 00:11:17
    using, you know, it's a lot of having to go back to the accountant getting that

    00:11:17 - 00:11:21
    issue fixed up. Then coming back to the client to get the documents signed

    00:11:21 - 00:11:27
    and giving it to the lender. So you know, it's just added layers. To simplify and

    00:11:27 - 00:11:32
    summarise loans can get difficult when you're asking for an exception from a

    00:11:32 - 00:11:38
    lender. What is an exception from a lender? So, for example, let's say that a

    00:11:38 - 00:11:42
    self employed customer is wanting to borrow money, and they've only been

    00:11:42 - 00:11:48
    self-employed for 12 months. But the lending criteria for the bank is that

    00:11:48 - 00:11:52
    you know the business needs to be established for two years. You know, that's

    00:11:52 - 00:11:58
    that's an exception, you know because it's outside policy. Another example

    00:11:58 - 00:12:05
    would bay if our customer's needing to use like overtime. And the

    00:12:05 - 00:12:11
    know, broker's place, the client with the lender that has a stringent policy

    00:12:11 - 00:12:14
    around. They're not accepting overtime at the moment because of COVID-19

    00:12:14 - 00:12:19
    for an example. You know that's asking for trouble. You know, you don't

    00:12:19 - 00:12:23
    want to muck around with those types of requests, best to just find

    00:12:23 - 00:12:27
    a lender. That's going to be able to work with the incomes that's being

    00:12:27 - 00:12:33
    presented rather than trying to jam jamming the deal with the lender

    00:12:33 - 00:12:37
    that it might be offering the best price. Or, you know, Quiet wants to deal

    00:12:37 - 00:12:42
    with would deal with that particular lender. I like that. Avoid trying to jam the

    00:12:42 - 00:12:48
    deal we make that it will have been turned into a tweet. Don't jam the deal.

    00:12:48 - 00:12:52
    Last questions. I know you've got to get back to work, and we've probably

    00:12:52 - 00:12:57
    only got another good two minutes out of Marcus being about to sit quietly

    00:12:57 - 00:13:03
    and watch his record a podcast. How can we make it easier for banks to assess

    00:13:03 - 00:13:08
    and process our loans? What can we do to make the assessor's jobs easier?

    00:13:08 - 00:13:14
    Provide the requested documentations as requested by the lender, particularly

    00:13:14 - 00:13:21
    with home loan refinancing. I find that customers can sometimes not

    00:13:21 - 00:13:26
    provide the correct documentation where they're taking a screenshot of their

    00:13:26 - 00:13:29
    home loan statement, but it doesn't have their names on it. You know, stuff

    00:13:29 - 00:13:35
    like that on. Many customers don't have access to computers or do everything

    00:13:35 - 00:13:39
    by phone and stuff like that. So well, especially now we've COVID-19 I mean,

    00:13:39 - 00:13:43
    how are we supposed to get out and get access

    00:13:43 - 00:13:50
    to a computer and a printer and a scanner and that sort of stuff. So provide

    00:13:50 - 00:13:56
    the right documentation to the broker. The broker should be very well versed

    00:13:56 - 00:14:03
    in what's required from from the lender. Make sure that whatever the

    00:14:03 - 00:14:07
    brokers asking, you you kind of give the right information back that way.

    00:14:07 - 00:14:10
    You know, you're not having to go back and forth back and forth all the time.

    00:14:10 - 00:14:20
    Sometimes it's unavoidable. But that would be one of my tips for trying to get a

    00:14:20 - 00:14:25
    loan application sort of done right the first time. That's a great tip. And I

    00:14:25 - 00:14:31
    would add to that, Do make sure that you use and you work with an

    00:14:31 - 00:14:36
    experienced mortgage broker because they know the lender policy inside and

    00:14:36 - 00:14:41
    out. And they will know how to package and present your home loan

    00:14:41 - 00:14:47
    application in the best possible way for that lender. And finally, don't jam the

    00:14:47 - 00:14:51
    deal. Thanks so much for coming onto the show that was really

    00:14:51 - 00:14:58
    informative. Thank you. Thanks for having me. And if you like this and if

    00:14:58 - 00:15:05
    you like this, give my mummy a five star review. I hope you do. Thanks

    00:15:05 - 00:15:09
    for joining us on the Dream Home movement. Be sure to come over and say hi

    00:15:09 - 00:15:14
    on Facebook and Instagram. I hope that your dream home projects are going

    00:15:14 - 00:15:17
    well, and I look forward to chatting with you again next week.

    How to Choose Beautiful Furniture for Your Home, That Lasts with Sarah Jane Curtis

    How to Choose Beautiful Furniture for Your Home, That Lasts with Sarah Jane Curtis

    Staging Your Home for Sale/How to Choose Beautiful Furniture/Styling Kids Bedrooms/ Biggest Interior Design MISTAKES to avoid/The Mornington Peninsula Aesthetic/Property Flipping/Money Mistakes


    Want the best hacks for choosing divine furniture?...

    Sarah Jane Curtis of Seaglass Styling tells us how with plenty of styling tips to make your home look fabulous!

    Sarah Jane Curtis is a local Mornington Peninsula styling and home staging genius!


    Styling has been a passion of hers for many years. What started as a small opportunity I turned her dream into a job – Seaglass Styling.


    Sarah Jane frequently travels overseas to source quality furniture and homewares which in turn gives her a story to tell about every piece that gets placed in a home.


    Finance Segment – Jo interviewed a group of mums about the money advice they would give their younger selves. Read the full article in Peninsula Kids Magazine


    Market Watch – Tara explores why some people lose money when they try to ‘flip’ a home. She shares her strategies to prevent losing money and to ensure your flip is profitable.


    **This episode of the Dream Home Movement was recorded live at the RPPFM studios**


    Follow the Dream Home Movement

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    Join the conversation in the Building Dreams. Mornington Peninsula Facebook Group


    Follow Jo Violeta

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    Web

    Chat about the super sexy topic of…finance in the Mumma’s Corner – Everything Money Group on Facebook


    Follow Sarah Jane Curtis

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    How to create a style board with Claudia Brdar of The Renovate Avenue

    How to create a style board with Claudia Brdar of The Renovate Avenue
    Claudia Brdar from The Renovate Avenue takes us through what a style board is, why you need one to inspire and plan your home styling project and how to create one.

    This episode is part of a very special DIY renovation series.
    Claudia from @therenovateavenue and Founder of the DIY Renovation Academy will join us once a month on the show to take you through EVERYTHING you need to know to DIY your reno.⠀
    This is like a little sneak peek into her super popular DIY Renovation Academy course.⠀
    This series is exclusively for Dream Home Movement listeners.

    Listen to Claudia's episode on How to choose a design style for your home

    How to contact Jo and Carl from Violeta Finance
    info@violetafinance.com.au
    03 9775 0532
    www.violetafinance.com.au

    Follow Claudia and The Renovate Avenue

    Follow the Dream Home Movement

    Follow Carl and Jo Violeta

    Guest bio

    Claudia and her husband Pete have renovated small properties right through to large scale projects. Several years ago they bought a run-down 1960's weatherboard house (purchased for $460K) and ended up completing a major renovation ($75K), creating a beautiful sought after home ... on a tight budget! They set the suburb record for a property price of $1.035 million (2017)!
    They're currently renovating a 1960's brick house to sell.
    Both Pete and Claudia have a real hands-on DIY approach when it comes to renovating, focusing on achieving that ‘WOW’ factor ... thinking bigger, outside-the-box, and never afraid to take a risk.

    Claudia created The Renovate Avenue to share her knowledge, and inspire others to climb the property market via the renovation avenue, building a financially stable future to retire earlier (and do what you love).

    The 25k HomeBuilder Grant explained

    The 25k HomeBuilder Grant explained
    The $25k HomeBuilder grant is part of the government's COVID-19 stimulus package. It will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate their existing home. Quick clarification: During the podcast I got my words muddled and said 'sustainably' renovate rather than 'substantially' renovate, the correct word in this context is definitely 'substantially'.

    In this episode we go through:

    What the HomeBuilder Grant is
    Who it's for and who it's not for
    How and where to apply for it
    Where to find details on the grant for your state or territory
    Whether the grant be used with other grants, schemes and initiatives
    Whether the grant can be used towards your deposit

    Go to the episode web page for details of where to apply for the HomeBuilder Grant.

    Follow the Dream Home Movement

    Follow Carl and Jo Violeta

    Guest bio

    Jo Violeta is the host of the Dream Home Movement podcast and runs the awards winning mortgage brokerage Violeta Finance with her husband Carl. Think of Jo as your property finance translator. She explains complex finance concepts in a way that's easy to understand and accessible, so you can be feel confident and empowered.

    Here's a list of the relevant state and territory bodies and their preferred contact details:

    Australian Capital Territory
    ACT Revenue Office

    New South Wales
    New South Wales Revenue Office
    Home.Builder@revenue.nsw.gov.au
    1300 130 624.

    Northern Territory
    Northern Territory’s Revenue Office

    Queensland
    Queensland Office of State Revenue (OSR)
    HomeBuilderGrant@treasury.qld.gov.au
    1300 300 734.

    South Australia
    South Australian Revenue Office

    Tasmania
    State Revenue Office of Tasmania

    Victoria
    State Revenue Office Victoria

    Western Australia
    Western Australia Revenue Office

    Transcript

    Please note: This is an automated transcript, so it won't be perfect.

    00:00:00 - 00:00:05
    have you heard of the $25,000 homebuilder Grant? Well, if you have, you've
    00:00:05 - 00:00:09
    probably got questions about it. And if you've got questions about it promising
    00:00:09 - 00:00:16
    , you, you are not alone. Carl and I have received so many questions about the
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    homebuilder Grant recently. So I thought, Hey, let's do an episode about it.
    00:00:20 - 00:00:28
    I'm going to explain what it is, who it's for, who It's not for how to apply for it
    00:00:28 - 00:00:32
    and also answer some of the commonly asked questions about the grant. Now,
    00:00:32 - 00:00:39
    if we haven't met before Hello, I'm Joe Via letter. I own a an award winning
    00:00:39 - 00:00:43
    mortgage brokerage with my husband, Carl. We help families and small
    00:00:43 - 00:00:49
    businesses achieved their finance and property dreams by helping them secure
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    a fair deal on their home loans. Their property investment loans, their
    00:00:53 - 00:00:58
    commercial property finance and also save money on their mortgage
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    repayments through refinancing and access funds for their home renovations.
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    You confined us all over the Internet at Violet of finance. It's just got one t in it
    00:01:09 - 00:01:13
    , and we love to hang out on Facebook and Instagram. So please do come
    00:01:13 - 00:01:20
    along and say hi to us. They're all right Let's get stuck into the $25,000
    00:01:20 - 00:01:25
    homebuilder Grant. Welcome to the Dream Home Movement. This's your
    00:01:25 - 00:01:31
    weekly dose of home and property inspiration. Bring you clever tips and
    00:01:31 - 00:01:37
    advice from the very best experts and really like Renno storeys with your host.
    00:01:37 - 00:01:46
    Joe Violeta Thie $25,000 Homebuilder Grant is a $688 million scheme that's
    00:01:46 - 00:01:52
    part of the Australian government's covert 19 stimulus package. Now I know
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    that I have lots of listeners all over Australia, but I also have plenty off
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    international listeners for the dream home movement as well. And so I'm sorry
    00:02:01 - 00:02:08
    to my international listeners, but this is a new Australian government grant.
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    But you're very welcome to continue listening to the episode. And also we've
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    got plenty off really valuable, really fun episodes coming up that applied Tio.
    00:02:20 - 00:02:26
    You will apply to you no matter where you live, so I hope you will tune in to
    00:02:26 - 00:02:31
    those. Okay, So back to the home builder Grant. What is it? Well, it's
    00:02:31 - 00:02:41
    designed to provide a $25,000 grant to build a new home or sustainably
    00:02:41 - 00:02:47
    renovate your existing home. There are no caps on the number of grants
    00:02:47 - 00:02:54
    available. So in Australia, we've got the first home loan deposit scheme, for
    00:02:54 - 00:02:59
    example, which is the first home buyers. And there's a cap on that, which is
    00:02:59 - 00:03:05
    there's only 10,000 places available per financial year. There's no cap on the
    00:03:05 - 00:03:12
    number of grants For the homebuilder grant, however, there is a time limit,
    00:03:12 - 00:03:20
    and there's some flexibility built into the time limit as faras the timeliness
    00:03:20 - 00:03:26
    between contracts being signed that has just been built into the scheme recently
    00:03:26 - 00:03:31
    since it was first introduced. S O. If you're going to look at applying for the
    00:03:31 - 00:03:36
    scheme, you'll need Teo. Contact your relevant state authority and I'll go
    00:03:36 - 00:03:39
    through who you're relevant. State authorities are state or territory. Authorities
    00:03:39 - 00:03:46
    are later on in the episode, but basically without getting into the final finer
    00:03:46 - 00:03:51
    detail, the time limit is that the contract for the build or renovation must be
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    signed between the Fourth of June 2020 and the 31st of December 2020. So
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    this if you're listening to this episode in real time, it's being published on
    00:04:04 - 00:04:11
    Thursday morning, August 27th, 2020. So you've still got time, Tio, get
    00:04:11 - 00:04:18
    organiz DH and This is the bit where there's been a few little tweaks. So
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    originally they were saying that construction must commence within three
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    months off the contract date. I think there might be a bit of discretion in there,
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    a bit of flexibility. So again, you need to cheque with your relevant state or
    00:04:33 - 00:04:37
    territory authority. And I'll tell you what those are later on in the episode of
    00:04:37 - 00:04:45
    Also Got All those details in this show notes as well. So who is eligible for the
    00:04:45 - 00:04:52
    $25,000 homebuilder Grant? Well, first of all, it's for owner occupiers. So
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    you need Teo, the property that you're renovating or you're building you need
    00:04:57 - 00:05:04
    It needs to be for you to live in. Yeah, okay. On DH there. It's also available
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    to first home buyers, which is great, but also, you don't have to be a first
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    Homebuyer to access the grant s o. A lot of thie grants and schemes that are
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    available around property in Australia are really targeted to first home buyers.
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    But this has opened up Teo. Everyone, regardless of whether your first home
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    by our or you currently own a property, we have owned a property in the past.
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    Okay, so you also need to be now this is going to sound a little bit funny. You
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    need to be a natural person, so that doesn't mean you only I don't know. Eat
    00:05:44 - 00:05:52
    organic food and don't colour your hair. What it means is that you can't be a
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    company or a trust, so the you need to apply as a person and you need to be 18
    00:06:01 - 00:06:08
    years or years old or older and an Australian citizen. Now there's also a limit
    00:06:08 - 00:06:14
    on how much you can end. So if you're an individual, not in a couple, then
    00:06:14 - 00:06:24
    you need to have earned $125,000 or less per annum per year or $200,000 or
    00:06:24 - 00:06:32
    less for a couple combined. And the income will be based on your 2018 2019
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    tax return or later. So if you done your 2019 2020 tax return, then it will be
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    based on that. So who is the grant? Not for Well, I mentioned before that it's
    00:06:47 - 00:06:54
    for owner occupiers, so it's not for owner builders, and I know that's really sad
    00:06:54 - 00:06:58
    news for a lot of our listeners. because a lot of our listeners are owner builders
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    or interested in becoming becoming becoming owner builders. And it's not for
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    investment properties only either. It's for owner occupiers. Now, if you are
    00:07:12 - 00:07:16
    wanting Teo, access the grant for a new build. So you wanting to build a
    00:07:16 - 00:07:24
    property, build a house, then the property value, including land, needs to be
    00:07:24 - 00:07:32
    under $750,000. What can exceed $750,000 which some people may feel like
    00:07:32 - 00:07:37
    you know, is not that much, especially considering it's including land. But in
    00:07:37 - 00:07:41
    you know, I live in Melbourne and in many of the out of suburbs you can get
    00:07:41 - 00:07:47
    house and land packages for $750,000 or under. Now, if you want to access it
    00:07:47 - 00:07:52
    for a renovation, the renovation contract needs to be between
    00:07:52 - 00:08:01
    $150,000.750,000 dollars, and the value of your existing property must not
    00:08:01 - 00:08:09
    exceed $1.5 million. And also, I'm going to read this okay, and then I'll
    00:08:09 - 00:08:13
    explain what it means. This is from the original documentation official
    00:08:13 - 00:08:19
    documentation from Treasury about the homebuilder grant, and that is that the
    00:08:19 - 00:08:25
    renovation works must be to improve the accessibility, safety and livability off
    00:08:25 - 00:08:30
    the dwellings. You'd need toe unpack of your builder. Exactly whether or not
    00:08:30 - 00:08:34
    that applies to the renovation works that you're thinking off. But some
    00:08:34 - 00:08:41
    examples off what it can't before are things like swimming pools, tennis courts
    00:08:41 - 00:08:50
    , outdoors bars, saunas and sheds or garages that are not connected to the
    00:08:50 - 00:08:55
    property. All right, so you think that you might perhaps be eligible for the
    00:08:55 - 00:09:00
    homebuilder grant, and you've got a new build or a renovation plan?
    00:09:00 - 00:09:06
    Awesome. So now how do you apply for it? And how do you get some Mohr
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    deeper detail? Well, you need Teo go through your relevant state or territory
    00:09:14 - 00:09:18
    body will probably thinking, Well, what's that? What does that even mean?
    00:09:18 - 00:09:24
    We'll go through the list off places that you need to go to get information and in
    00:09:24 - 00:09:31
    the show notes. I'll have the details so it might be email address or phone
    00:09:31 - 00:09:36
    number or website, whatever that your particular state or territory wants to
    00:09:36 - 00:09:42
    provide, like how they want youto contact them. So we've got the revenue
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    office. That's for the Australian Capital Territory. New South Wales Revenue
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    Office, Northern Territories Revenue Office, Queensland Office Off State
    00:09:50 - 00:09:56
    Revenue, South Australian Review New offer. State Revenue Office off
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    Tasmania State Revenue Office Victoria and finally, Western Australia
    00:10:01 - 00:10:07
    Revenue Office. Those are the places that you need to go to Teo, get more
    00:10:07 - 00:10:18
    detail and also to apply. Already, let's get stuck into some off those commonly
    00:10:18 - 00:10:23
    asked questions. So one of the most commonly asked questions comes from
    00:10:23 - 00:10:30
    first home buyers, and it is. Will this be paid in addition to the first
    00:10:30 - 00:10:35
    homeowners grant and the first home loan deposit scheme? If, of course, you
    00:10:35 - 00:10:42
    are eligible for those and yes, it will be okay, so that's good news. Now, if
    00:10:42 - 00:10:46
    you're not sure what the first homeowners grant ears and what the first
    00:10:46 - 00:10:52
    homeland deposit scheme is, you can head over Teo website, violeta finance
    00:10:52 - 00:10:56
    dot com dot ua. And we've got blogged posts with the details of those on there
    00:10:56 - 00:11:02
    , and I'll pop links to those blawg articles in the show notes as well. And then
    00:11:02 - 00:11:09
    the other question that is quite common. And, gosh, I just I was sort of
    00:11:09 - 00:11:13
    tossing up. We're not even to raise this because I don't really have an answer
    00:11:13 - 00:11:18
    for it. but I'm going to do it. Okay, So the other question that's quite common
    00:11:18 - 00:11:26
    is, can you use the $25,000 homebuilder grant towards your deposit? And the
    00:11:26 - 00:11:37
    answer is, we're still waiting for lenders to finalise their They're lending policy
    00:11:37 - 00:11:45
    around homebuilder Grant, so there's no kind of big blanket Answer yes or no
    00:11:45 - 00:11:54
    answer. It really depends on the individual lenders and bank banks lending
    00:11:54 - 00:12:02
    policy. So what you want to do, in that case is speak to your mortgage broker
    00:12:02 - 00:12:09
    and just create your deposit strategy with them based on your individual
    00:12:09 - 00:12:14
    circumstances. WHO which bank you're going toe. Apply floor based on your
    00:12:14 - 00:12:19
    needs and your goals and your you know whether or not you're meet their
    00:12:19 - 00:12:26
    servicing criteria. So I can't give you a definitive answer on the podcast. And
    00:12:26 - 00:12:30
    I'm sorry about that. I would love to be able to, but yet it's a discussion to
    00:12:30 - 00:12:36
    have with your mortgage broker. And, hey, if you don't already have a
    00:12:36 - 00:12:40
    mortgage broker, I happen to know a really good one. He's backing this Carlin
    00:12:40 - 00:12:46
    . You're very welcome to contact him. So yes, call my husband my partner in
    00:12:46 - 00:12:52
    violent of finance and eye contact details in this show notes as well. So that is
    00:12:52 - 00:12:58
    thie $25,000 homebuilder Grant. I hope that was helpful. Thank you so much
    00:12:58 - 00:13:04
    for tuning in next week. Next Thursday, we have Sam's been at back on the
    00:13:04 - 00:13:08
    show. He was on the show a few months ago, and he is going to talk to us
    00:13:08 - 00:13:14
    about what a buyer's advocate does and why you should consider working with
    00:13:14 - 00:13:18
    the buyers Advocate for your next property purchase. And we've got plenty
    00:13:18 - 00:13:23
    more exciting shows coming up for Siri's for So I'm looking forward to those,
    00:13:23 - 00:13:28
    and I'm looking forward to chatting with you again soon. Thanks for joining us
    00:13:28 - 00:13:32
    on the Dream Home movement. Be sure to come over and say hi on Facebook
    00:13:32 - 00:13:37
    and Instagram. I hope that your dream home projects are going well, and I
    00:13:37 - 00:13:39
    look forward to chatting with you again next week.