First Select Finance

𝗡𝗲𝘄 𝘃𝘀 𝘂𝘀𝗲𝗱 𝗺𝗼𝘁𝗼𝗿𝗯𝗶𝗸𝗲 𝗹𝗼𝗮𝗻𝘀 Thinking about saving money on your next ride? Here are the pros and cons of financing a new versus second-hand motorbike. 💡 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲𝘀 𝗼𝗳 𝗻𝗲𝘄 𝗺𝗼𝘁𝗼𝗿𝗯𝗶𝗸𝗲 𝗹𝗼𝗮𝗻𝘀 𝟭. 𝗟𝗼𝘄𝗲𝗿 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗿𝗮𝘁𝗲𝘀: New models often qualify for secured loans with lower rates, reducing monthly repayments and overall costs. 𝟮. 𝗗𝗲𝗮𝗹𝗲𝗿 𝗱𝗶𝘀𝗰𝗼𝘂𝗻𝘁𝘀: Sales events and run-out discounts can make new models more competitive with used bikes. 𝟯. 𝗪𝗮𝗿𝗿𝗮𝗻𝘁𝗶𝗲𝘀: New bikes typically come with manufacturer warranties, reducing maintenance risks in the early years. 𝟰. 𝗧𝗿𝗮𝗱𝗲-𝗶𝗻 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀: Dealers are more likely to accept trade-ins when buying new. 💡 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲𝘀 𝗼𝗳 𝘂𝘀𝗲𝗱 𝗺𝗼𝘁𝗼𝗿𝗯𝗶𝗸𝗲 𝗹𝗼𝗮𝗻𝘀 𝟭. 𝗟𝗼𝘄𝗲𝗿 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝗽𝗿𝗶𝗰𝗲: Used bikes cost less upfront, leading to smaller loan amounts and lower repayments. 𝟮. 𝗪𝗶𝗱𝗲 𝘀𝗲𝗹𝗲𝗰𝘁𝗶𝗼𝗻: A larger variety of models and price points are available in the second-hand market. 𝟯. 𝗤𝘂𝗶𝗰𝗸 𝘁𝘂𝗿𝗻𝗮𝗿𝗼𝘂𝗻𝗱: Using a broker ensures fast loan approvals, especially important for quality used bikes.

𝟲 𝘁𝗶𝗽𝘀 𝗳𝗼𝗿 𝗴𝗿𝗮𝗯𝗯𝗶𝗻𝗴 𝗮 𝗡𝗲𝘄 𝗬𝗲𝗮𝗿 𝗰𝗮𝗿 𝗯𝗮𝗿𝗴𝗮𝗶𝗻 The start of a new year presents one of the best opportunities to secure a bargain on both new and used vehicles. While many people are off on holiday, you can use this opportunity to grab a great deal on a car in 2025. Here’s how to navigate the car-buying process and secure a deal that best suits you. 𝗧𝗮𝗸𝗲 𝗮𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲 𝗼𝗳 𝘆𝗲𝗮𝗿-𝗲𝗻𝗱 𝗰𝗹𝗲𝗮𝗿𝗮𝗻𝗰𝗲 𝘀𝗮𝗹𝗲𝘀 Dealerships are eager to clear their previous year's inventory as the calendar ticks over. This urgency creates many discounting opportunities, with dealers offering significant price reductions, complementary accessories and drive-away pricing. Focus on vehicles with the previous year's plate, as these typically come with the biggest discounts while still being essentially new. 𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝘀𝗲𝗹𝗹𝗲𝗿𝘀 Don’t limit yourself to scouting the dealerships for a bargain. Private sellers who listed their vehicles in the previous year are often more motivated to sell and may be more flexible on price. Check listing dates and use this information during negotiations. When buying privately, consider obtaining a warranty and a roadworthy certificate from your seller, to protect your investment. 𝗘𝘅𝗽𝗹𝗼𝗿𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘃𝗲𝗵𝗶𝗰𝗹𝗲 𝗼𝗽𝘁𝗶𝗼𝗻𝘀 For business owners and ABN holders, the new year offers additional advantages. Purchasing early in the year can provide six months of tax benefits, and various financing options are also available, including no-deposit solutions. 𝗔𝘃𝗼𝗶𝗱 𝗱𝗲𝗮𝗹𝗲𝗿𝘀𝗵𝗶𝗽 𝗳𝗶𝗻𝗮𝗻𝗰𝗲 𝘁𝗿𝗮𝗽𝘀 Be cautious with in-house dealership finance, as these arrangements often come with hidden fees, limited lender options and inflexible terms. They typically require excellent credit scores and may include significant balloon payments. Consider working with a finance broker who can compare your options across multiple lenders and provide more flexible terms. 𝗧𝗶𝗺𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲 The first few weeks of the year are crucial for finding the best deals. Visit dealerships in January or February, specifically asking about run-out models. All vehicle types, from small cars to SUVs and trucks, are typically included in these clearance sales. 𝗦𝗲𝗰𝘂𝗿𝗲 𝗽𝗿𝗲-𝗮𝗽𝗽𝗿𝗼𝘃𝗮𝗹 𝗳𝗶𝗿𝘀𝘁 Getting finance pre-approval before starting your car search gives you a clear budget and a stronger negotiating position. This approach also simplifies the purchase process and helps avoid disappointment from overextending yourself financially.

𝗛𝗼𝘄 𝘁𝗼 𝗴𝗲𝘁 𝗮 𝗯𝗼𝗮𝘁 𝗹𝗼𝗮𝗻 𝘁𝗵𝗶𝘀 𝘀𝘂𝗺𝗺𝗲𝗿 With summer well and truly here, and perfect boating weather on the horizon, many Aussies are looking at the best way to finance their dream vessel. Securing the right boat loan can save you thousands over the life of the loan. The right loan will also see you out on the water, skipper of your vessel, a lot sooner. 💡 𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝗼𝘂𝗿 𝗸𝗲𝘆 𝘀𝘁𝗲𝗽𝘀 𝘁𝗼 𝗴𝗲𝘁𝘁𝗶𝗻𝗴 𝗼𝗻 𝘆𝗼𝘂𝗿 𝘄𝗮𝘆: 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝘆𝗼𝘂𝗿 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝗼𝗽𝘁𝗶𝗼𝗻𝘀 The boat loan market offers two primary types of loans: secured and unsecured loans. Secured loans use your boat as collateral, and typically offer lower interest rates, making them ideal for newer vessels. Unsecured personal loans don't require collateral, so if you default on your loan, you will still own your boat. But an unsecured loan might have higher rates than a secured loan. You will be able to make an informed decision as to which loan is right for you, based on your circumstances and the type of boat you're purchasing. 𝗠𝗮𝘅𝗶𝗺𝗶𝘀𝗶𝗻𝗴 𝗹𝗼𝗮𝗻 𝘃𝗮𝗹𝘂𝗲 Modern boat loans can include more than just the vessel's purchase price. Consider incorporating additional costs–such as accessories like the boat cover, safety equipment and even your trailer–into your loan package. This approach can help you better manage your overall investment, while maintaining a single monthly payment. 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗲𝘅𝗽𝗲𝗿𝘁𝗶𝘀𝗲 Working with a finance broker gives you access to multiple lenders through a single point of contact. Gaining access to their industry knowledge and relationships can be invaluable in working your way through the loan process. Your broker can quickly compare rates and terms across numerous lenders, saving you time and potentially securing better deals than you might find on your own. 𝗠𝗶𝗻𝗶𝗺𝗶𝘀𝗶𝗻𝗴 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗰𝗼𝘀𝘁𝘀 The key to reducing your loan costs lies in securing the loan product that best suits your unique financial needs. Focus on improving your creditworthiness before applying and consider the timing of your application relative to market conditions. Your finance broker can help identify which lenders are offering the most competitive rates at any given time and compare your options. 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗿𝗲𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 Your repayment strategy can significantly impact the overall cost of your loan. You need to consider factors such as the loan term length, deposit amount, and payment frequency. While longer terms offer lower monthly payments, they result in higher total interest costs. Finding the right balance between affordable monthly payments and total loan cost is vital and something your finance broker can work through with you.

𝗕𝗿𝗶𝘀𝗯𝗮𝗻𝗲 𝗮𝗻𝗱 𝗔𝗱𝗲𝗹𝗮𝗶𝗱𝗲 𝘀𝗲𝘁 𝘁𝗼 𝗷𝗼𝗶𝗻 𝘁𝗵𝗲 𝗺𝗶𝗹𝗹𝗶𝗼𝗻-𝗱𝗼𝗹𝗹𝗮𝗿 𝗰𝗹𝘂𝗯 Big things are on the horizon for Brisbane and Adelaide! By the end of 2025, both cities are predicted to join Australia’s exclusive million-dollar median house price club, according to Domain. Despite economic headwinds, these markets have shown resilience with strong demand and undersupply, driving significant price growth. Forecasts for 2025 project house price growth of 5-7% in Brisbane and 7-9% in Adelaide, taking them past the million-dollar mark. Smaller cities like Perth, Adelaide, and Brisbane are no longer in the shadow of Sydney and Melbourne, emerging as standout performers in 2024. Shifting buyer preferences have also reshaped the market, with pools and waterfront properties in high demand, reflecting lifestyle-driven choices. Looking ahead, 2025 is expected to unfold in two phases with a softer start transitioning to a stronger second half as affordability pressures ease and potential rate cuts attract more buyers.

𝗔𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲 𝗽𝗮𝘁𝗵𝘀 𝘁𝗼 𝗵𝗼𝗺𝗲𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗴𝗮𝗶𝗻 𝗺𝗼𝗺𝗲𝗻𝘁𝘂𝗺 Traditional homeownership paths are changing, as Australians increasingly look at new ways to enter the property market, amid rising living costs and affordability challenges. According to Helia's latest Home Buyer Sentiment Report, only 15 per cent of first-home buyers believe they can save a full 20 per cent deposit of a property, leading to increased interest in alternative finance options like lenders mortgage insurance (LMI). The report reveals that 84 per cent of first-home buyers preferred to purchase sooner with a smaller deposit, rather than delay their purchase to save more. Cost of living has overtaken housing prices as the main barrier to homeownership. Greg McAweeney, Chief Commercial Officer at Helia, said LMI has become a popular solution. "LMI allows homebuyers to secure a property with as little as a 5 per cent deposit, eliminating the delay caused by waiting years to save a full 20 per cent," Mr McAweeney said. 𝗖𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝗳𝗮𝗺𝗶𝗹𝘆 𝗱𝘆𝗻𝗮𝗺𝗶𝗰𝘀 While family support remains key for young buyers entering the property market, this approach is evolving. Direct contributions to deposits from parents dropped from 60 per cent in 2023 to 47 per cent in 2024. Instead, families are finding alternative ways to assist, such as helping with ongoing costs and covering LMI fees, the report finds. 𝗟𝗼𝗼𝗸𝗶𝗻𝗴 𝗯𝗲𝘆𝗼𝗻𝗱 𝗺𝗮𝗷𝗼𝗿 𝗰𝗶𝘁𝗶𝗲𝘀 Affordability challenges are pushing buyers to consider interstate purchases, with 40 per cent of first-home buyers now exploring this option. The trend of 'rentvesting'—buying an investment property in a more affordable location while renting elsewhere—is also gaining traction. PropTrack data reveals that a median-income household earning over $112,000 per year can now afford just 14 per cent of homes nationwide, compared to 43 per cent three years ago. 𝗧𝗵𝗲 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗿𝗼𝗹𝗲 𝗼𝗳 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗯𝗿𝗼𝗸𝗲𝗿𝘀 These shifting trends have transformed the role of mortgage brokers. They are no longer just loan facilitators but also offer expert guidance, helping buyers to navigate modern homeownership options. The Helia report shows that 91 per cent of first-home buyers plan to use a mortgage broker for their expertise, time savings, and access to better deals. "Mortgage brokers play a vital role in educating clients about the benefits of LMI as a viable alternative to traditional savings strategies," Mr McAweeney said. "By not offering LMI as an option, mortgage brokers risk missing clients who might otherwise have been able to afford a mortgage with a smaller deposit and LMI," he said.

𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗽𝗿𝗶𝗰𝗲𝘀 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘂𝗽𝘄𝗮𝗿𝗱 Property prices across the country continue to rise, however, the pace of growth is easing. November’s CoreLogic Home Value Index (HVI) edged up 0.1%, marking the 22nd straight month of growth. Perth continues to shine, leading the nation with a 1.1% rise last month and 3% growth over the quarter. Regional markets also remain resilient, outperforming capital cities with a 1.1% quarterly increase, highlighting the ongoing appeal of lifestyle destinations. Even in softer markets like Sydney and Melbourne, elevated stock levels are giving buyers more choice, while affordability challenges are encouraging creative investment strategies. CoreLogic says that with 2025 on the horizon, potential policy changes and a housing supply crunch could create new opportunities for market growth.

𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁'𝘀 ‘H𝗲𝗹𝗽 𝘁𝗼 𝗕𝘂𝘆’ 𝘀𝗰𝗵𝗲𝗺𝗲 𝘀𝗲𝘁 𝘁𝗼 𝗯𝗲𝗴𝗶𝗻 The Australian Federal Government has unveiled its ambitious ‘Help to Buy’ scheme, designed to make homeownership more accessible for low and middle-income Australians through a co-purchasing model. The initiative, set up to support 40,000 buyers over the next four years, aims to address the growing housing affordability crisis. Under the scheme, the government acts as a silent partner in the home purchase, easing the financial load for buyers. The scheme allows eligible Australians to purchase property with the government contributing up to 40 per cent of the purchase price for new homes and 30 per cent for existing properties. Buyers can enter the property market with as little as a 2 per cent deposit, and unlike traditional co-ownership arrangements, no interest is charged on the government’s stake. The government’s stake is repaid when the property is sold or when the buyer is ready to purchase the government’s share outright. For example, a buyer purchasing a $500,000 home with a 40% government contribution would need to borrow just $300,000, substantially reducing their mortgage repayments. This will significantly reduce mortgage burdens, the Government claims. The scheme also includes location-specific price caps to ensure fairness across the country. In New South Wales, for instance, the Help to Buy price cap is $950,000 for homes in capital cities and regional centres, while in Queensland, the cap is $700,000. Eligibility is limited to Australian citizens aged 18 or older who earn less than $90,000 individually or $120,000 combined as a household. Applicants cannot own property in Australia or overseas at the time of applying. While the scheme provides significant support, buyers must also consider that any increase in property value will see the government’s equity share grow accordingly. For example, if the government owns 30 per cent of a property and the home’s value increases by $100,000, the government’s share grows by $30,000. Buyers should also be aware of annual reassessments of their financial capacity and the property’s value, which could affect their eligibility. The Help to Buy scheme will roll out at different times across the country. Buyers in the Northern Territory and the Australian Capital Territory can access it immediately, while other states require legislative changes before it can begin. The government aims to assist 10,000 buyers annually, gradually expanding access to support more Australians.

🏠 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗯𝗿𝗼𝗸𝗲𝗿𝘀 𝘁𝗵𝗿𝗶𝘃𝗲 𝗮𝘀 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝗵𝗮𝗿𝗲 𝗿𝗲𝗮𝗰𝗵𝗲𝘀 𝗻𝗲𝘄 𝗵𝗲𝗶𝗴𝗵𝘁𝘀 🏦 The mortgage broking industry continues to thrive, now handling a record 74.6% of home loans, despite interest rates sitting at decade-high levels. According to the MFAA, brokers are writing more than seven out of ten loans, with refinancing driving much of the growth. Using a mortgage broker lets you compare options easily, offering a smarter alternative to dealing directly with lenders. ✅ 𝗔𝗰𝗰𝗲𝘀𝘀 𝘁𝗼 𝗺𝗼𝗿𝗲 𝗼𝗽𝘁𝗶𝗼𝗻𝘀 Brokers access a broad range of lenders—from major banks to specialists—offering hundreds of loan products tailored to your financial needs. Unlike going directly to a single bank, working with a broker ensures you’re not limited to the products of just one institution. ✅ 𝗘𝘅𝗽𝗲𝗿𝘁 𝗴𝘂𝗶𝗱𝗮𝗻𝗰𝗲 Navigating home loans alone can be overwhelming, especially for first-time buyers. Brokers provide personalized advice, breaking down terms and conditions to help you make informed decisions. ✅ 𝗧𝗶𝗺𝗲-𝘀𝗮𝘃𝗶𝗻𝗴 𝗰𝗼𝗻𝘃𝗲𝗻𝗶𝗲𝗻𝗰𝗲 From comparing loans to managing applications, brokers handle the heavy lifting, ensuring a smoother and quicker process. ✅ 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝗱𝘂𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝗲𝗻𝘁𝗶𝗿𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 A mortgage broker is with you every step of the way, offering post-settlement support, helping keep your loan competitive, and guiding future investments for long-term financial success.

𝗨𝘀𝗲 𝘁𝗵𝗲 𝗵𝗼𝗹𝗶𝗱𝗮𝘆 𝘀𝗲𝗮𝘀𝗼𝗻 𝘁𝗼 𝗳𝗶𝗻𝗱 𝘆𝗼𝘂𝗿 𝗱𝗿𝗲𝗮𝗺 𝗵𝗼𝗺𝗲 ✨ 🎄 The holiday season is a time of celebration and relaxation, but it can also be an excellent opportunity for house hunting. While most people are busy with festive preparations and school holidays, the property market often goes quiet. 💡 One major benefit of house hunting during the holidays is reduced competition. With fewer buyers actively searching, you have a better chance of finding the perfect property without the pressure of an active market. 💡 On top of that, sellers who list their homes during December are often motivated to make a quick sale, making it an ideal time for buyers to negotiate better terms. 🔎 The slower pace also gives you the chance to thoroughly explore the market, attend inspections, and take the time to look through properties without feeling rushed. ✨ If purchasing a home is on your list of goals for the new year, now is the perfect time to start looking. 🎊🏡

𝗠𝗮𝗻𝗮𝗴𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗵𝗼𝗹𝗶𝗱𝗮𝘆 𝘀𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝘄𝗵𝗶𝗹𝗲 𝘀𝗮𝘃𝗶𝗻𝗴 𝗳𝗼𝗿 𝗮 𝗵𝗼𝗺𝗲 𝗱𝗲𝗽𝗼𝘀𝗶𝘁 🎄 The festive season is full of joy, but it can challenge your home deposit savings. With smart planning and disciplined spending, you can celebrate without sidetracking your property goals. 💡 Stay on track this Christmas with these simple strategies to keep your savings momentum strong. 𝗪𝗮𝘁𝗰𝗵 𝗼𝘂𝘁 𝗳𝗼𝗿 𝗰𝗿𝗲𝗱𝗶𝘁 𝗰𝗮𝗿𝗱𝘀 💳 Credit cards can impact your home-buying journey more than you think. Impulse spending during the holidays can hurt your savings. Lenders view credit limits as potential debt, reducing your borrowing power. Recent spending history is closely reviewed during loan applications. 𝗧𝗶𝗽: Consider ditching unnecessary credit cards and sticking to cash or debit cards to stay in control and boost your lender appeal. 𝗖𝗿𝗲𝗮𝘁𝗲 𝗮 𝗯𝘂𝗱𝗴𝗲𝘁 📊 Budgeting made simple Set up multiple debit cards for essentials, discretionary spending, and bills. Transfer weekly amounts and keep your home deposit savings separate. This clear strategy helps you stay on track and avoid holiday overspending. 𝗦𝘁𝗮𝘆 𝗱𝗲𝗯𝘁-𝗳𝗿𝗲𝗲 🎄 Holiday spending happens, but don’t let it derail your property goals! Avoid taking on new debt and stay on top of existing repayments. Small, regular payments can boost your borrowing capacity. Hold off on big holiday splurges until after securing your first home. Focus on the long-term goals.