Author: Eric Burnett

How Does Casual Employment Impact My Loan Application?

Ethical Finance Broker AU Published on March 6, 2025 | 3 min read Casual employment can make loan applications a little more complicated, but it doesn’t mean you’re out of options. Lenders have different policies regarding casual work, so understanding how they assess your situation can help you improve your chances of approval. Lender Concerns About Casual Employment Many lenders are cautious about approving loans for casual workers due to responsible lending guidelines. Their main concerns include: A Common-Sense Approach to Casual Employment While some lenders are strict, others take a common-sense approach and consider: Challenges with Casual Employment in Loan Applications How to to prepare? Short-Term Employment If you’ve only been in a casual job for a few months and don’t have a stable employment history, getting approved by a prime lender can be tough. Lenders prefer applicants with a proven track record of consistent earnings. Minimum Employment Duration Most lenders require at least six months in a casual role to consider your income stable. Some may require 12 months, depending on the nature of the job. The longer you’ve been employed, the better your chances of approval. What Should You Do If You’re Concerned About Your Casual Employment Status? Call for Guidance If you’re worried about how your casual employment will impact your loan application, reach out for advice. I can assess your situation and suggest the best way forward. Is It Worth Investigating Loan Options? Absolutely. Even if casual employment poses challenges, it’s often worth exploring available lenders to find the best possible loan terms. Every case is different, and with the right guidance, you may still qualify for a loan that fits your needs.   Table of Contents Finance CalculatorsConsumer LoansBusiness LoansContact Us 16 Ambrose Street Rockingham, WA, Australia 6168 eric@ethicalfinancebroker.com.au 04 0115 1558 08 9525 3577 Legal Disclaimer, etc. Realistic Brokerage Services Ltd Pty Ltd (ABN 93 712 332 635) trading as Ethical Finance Broker AU and Financebroker.ai, is an Authorised Credit Representative (ACR #552958) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

How To Manage Living Expenses in Loan Applications

Ethical Finance Broker AU Home > How to Manage Living Expenses in Loan Applications Published on January 2, 2025 | 3 min read Applying for a loan involves more than just listing your income—managing and declaring your living expenses is equally important. Understanding how to budget and present your financial details can make a significant difference in your application’s success. How Should I Budget for a Loan Application? To budget effectively, start by reviewing your bank statements to understand your actual spending habits. Use these real figures when filling out your loan application to ensure accuracy. This gives lenders a clearer picture of your financial situation and avoids potential discrepancies. How Should I Handle Mortgage or Rent Payments If My Partner Contributes? If your partner contributes to your mortgage or rent payments, you can usually declare only half of the total payment. Some lenders may request proof of your partner’s income, while others might not. Providing payslips for both parties upfront can give you more options, but it’s not always a requirement. What Income and Expenses Should I Declare? When applying for a loan, you should declare: Lenders will also review your credit file to check for open loans and credit card balances. How Do Lenders Assess Living Expenses? Lenders often use the Household Expenditure Measure (HEM) to calculate your living expenses. This can vary between lenders and is sometimes scaled based on your income. For example: Lenders will consider the higher amount between your declared expenses and their internal HEM figures to assess your application. How Do Credit Card Expenses Affect My Application? Credit cards are treated as an expense based on their limit, not the balance. For example: This approach helps lenders account for potential credit usage. What Happens If My Living Expenses Exceed My Income? If your living expenses exceed your income, it could affect your ability to repay the loan. For instance: Each lender has different criteria: How Can I Ensure My Application Is Accurate? Transparency is key when completing your loan application. Be honest about your financial situation to avoid issues during the assessment process. Using the application form on my website allows me to review your profile and provide more accurate feedback tailored to your situation. Feel free to contact me if you have any questions or need help managing your living expenses and loan application. Table of Contents Finance CalculatorsConsumer LoansBusiness LoansContact Us 16 Ambrose Street Rockingham, WA, Australia 6168 eric@ethicalfinancebroker.com.au 04 0115 1558 08 9525 3577 Legal Disclaimer, etc. Realistic Brokerage Services Ltd Pty Ltd (ABN 93 712 332 635) trading as Ethical Finance Broker AU and Financebroker.ai, is an Authorised Credit Representative (ACR #552958) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

The Symbol of the Cross: Finding the Present Moment

Ethical Finance Broker AU Published on December 19, 2024 | 3 min read Life can feel like a constant tug-of-war—between the weight of the past and the worries of the future. But what if I told you that peace, clarity, and connection to something bigger are always available to you? All you have to do is be here, now.To understand this, let’s reflect on the symbol of the cross, not in a strictly religious sense, but as a universal representation of life, time, and presence. The Horizontal Line: The Human Condition Imagine a simple horizontal line. We often live our lives bouncing between these two ends of the line. Replaying old conversations, rethinking choices, worrying about tomorrow. But neither of these places—past or future—can offer us peace. So where does peace live? The Center: The Present Moment The center of the cross—the place where the horizontal and vertical lines meet—represents the present moment, the Now. Eckhart Tolle calls the present moment the only true reality. Everything outside of it—the past and future—exists only in your mind. Right here, right now, is where life is actually happening. It’s the moment where your breath moves in and out, where the wind touches your skin, where you simply exist. When you allow yourself to be in the Now, you free yourself from the weight of the past and the fear of the future. There’s nothing to overthink or fix, because the present moment is already complete. The Vertical Line: Connection with the Universe Now imagine a vertical line running up and down through the center of the horizontal line. This vertical line symbolizes our connection to something greater—the energy of the universe, life itself. The more time you spend in the present moment, the closer you come to this universal energy. Here, you’re not just a person lost in thoughts; you’re part of something vast, timeless, and eternal. Alan Watts once said, “You are the universe experiencing itself.” In the Now, you can feel that truth. Why It Matters Think about the moments when you feel most alive—when you’re watching the sunset, laughing with friends, or lost in a creative flow. In those moments, you’re not in the past or the future. You’re fully present. And that’s where peace is. Every time you find yourself overthinking or feeling anxious, return to the center. Take a breath. Notice the life around you. This moment—right here, right now—is where everything meets. Living in the Now The cross reminds us of a simple truth: The more time you spend in the present, the clearer your mind becomes. You let go of the clutter, the noise, the endless thoughts. You feel the universe instead of just thinking about it. So, the next time you find yourself lost in the past or worrying about the future, remember: everything you need is already here, in the Now. Breathe, and come back to the center. Drugs and Alcohol To quote Homer Simpson “To alcohol! The cause of, and solution to, all of life’s problems”. The solution he is referring to is that along with other mind altering drugs, it stops the thinking part of the human and that is what gives a temporary happiness. When you become aware of your thoughts, you’ll not need any substances to have a natural happiness Breaking the Cycle: Taking Control of Your Thoughts and Emotions I want to help others to “awaken” to the craziness that the human thought process does. I honestly believe that this should be thought in schools. Other research tells me that over 90% of people aren’t aware that they can live a peaceful life instead of choosing anger or playing the victim card like I did. I strongly believe that if you can be aware/control your thoughts, then life becomes so much better. Thoughts cause emotions, (e.g. anger) emotions cause different chemicals to be released (e.g. adrenaline), that causes different feelings (e.g. tension/ stress) this then creates more emotions and then it snowballs until you find something else to start the same process from again. There are tactics you can use to limit the thoughts and they boil down to simply becoming aware and observing the situation and asking yourself questions like “is this a problem right now” and you’ll find that over 90% of the time, you’ll be giving your energy and thoughts to a situation that you have no control over the outcome. It’s like you’re shining a light on the energy that’s taken control of your mind and this allows you to take back control. It’s like you’re an arsonist and the head of the fire department at the same time. Table of Contents Finance CalculatorsConsumer LoansBusiness LoansContact Us 16 Ambrose Street Rockingham, WA, Australia 6168 eric@ethicalfinancebroker.com.au 04 0115 1558 08 9525 3577 Legal Disclaimer, etc. Realistic Brokerage Services Ltd Pty Ltd (ABN 93 712 332 635) trading as Ethical Finance Broker AU and Financebroker.ai, is an Authorised Credit Representative (ACR #552958) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

How I Saved My Client $11,172—and How You Can Save, Too!

Ethical Finance Broker AU Home > How I Saved My Client $11,172 – and How You Can Save, Too! Published on December 12, 2024 | 3 min read Every now and then, I encounter a story that reinforces why I do what I do. This is one of those stories. My client was in the market for a car—a sleek, 4-year-old BMW X5 that she found through a private seller. To finance the purchase, she applied for a loan through a large finance broker linked to the car’s advertisement. When the contract came back, the interest rate was set at 12.24%. It seemed high, but like many people, she thought it might be standard for used car loans. Luckily, she remembered seeing an advertised rate of 8.24%, so she decided to dig deeper. screenshot of the other broker’s rate That’s when she found my website. The Power of the Right Tools My client entered a few details about the car, answered three quick questions about her profile, and clicked “calculate.” Within moments, she was looking at a rate of 7.99%—lower than both the advertised rate and the broker’s offer. screenshot of the result Intrigued, she completed the application process, and within 24 hours, her loan was approved at the 7.99% rate, with the same repayments as the initial online quote. The story doesn’t end there. Out of curiosity, she shared a screenshot of the original loan offer from the other broker. When I compared the numbers, the savings she achieved by choosing my service were over $11,172. Why the Difference? Here’s the frustrating part: the other broker could have offered the same deal. Instead, it seems their priority was commission, not fairness. This is a common issue in the industry. Larger finance brokers often work with higher margins to cover overhead costs or reward introducers with hefty commissions. Unfortunately, this leaves customers paying far more than necessary. Why My Calculator is Different My website features a loan calculator unlike anything else in Australia. It searches through thousands of data points to find the best rates for each client and their unique profile. By automating this process, I save time as a broker and can focus on delivering value to my clients. Here’s what you get when you deal with me: – Instant Quotes: Enter your details and get repayment figures instantly—no need to provide your contact details.– Fairness and Transparency: I treat every client the same, offering the best possible rates regardless of their borrowing amount or how they found me. – Ethical Business Practices: My rates reflect what’s fair, not what maximizes profit. I believe in karma and couldn’t justify charging one person significantly more than another for doing the same amount of work. – Your best interest first: I openly discuss all your options because I am the first to admit that I am not always the most cost effective way How I Keep Costs Low Unlike large networks with high operating costs, I’ve designed my business to focus on efficiency. The calculator does the heavy lifting, narrowing down the best lenders for each scenario. This allows me to save time and pass the savings directly to my clients. The calculator even shows what repayments would look like if I charged full retail fees—so you can see exactly how much you’re saving. It’s About More Than Just Numbers For me, this is about more than running a successful business. It’s about helping people and treating everyone equally. That’s a principle I hold close, both personally and professionally. I know that the way I work isn’t the norm in this industry, but it’s a choice I’m proud of. When I see stories like this client saving $11,172, it reminds me why I started this journey. Ready to Save? If you’re in the market for a loan—whether it’s for a car, boat, or any other purchase—give my calculator a try. It’s fast, transparent, and won’t flood you with calls or texts.  If you hear of anyone looking for finance, let them know about this calculator, I‘m sure they will be grateful How do I save? It is simple, if you are looking for a loan with personal use, click here or if you want a loan for a business item, click here and you will see the deal you will get if your profile matches the lenders that you have selected. Table of Contents

Redrawing from Your Home Loan: Pros, Cons, and Key Considerations

Ethical Finance Broker AU Quote Enquire Now Published on November 22, 2024 | 3 min read If you’re looking for ways to make the most of your home loan, a redraw facility can be a great option. But is it the right choice for your financial situation? In this blog, we’ll break down the pros, cons, and key considerations to help you decide if redrawing from your home loan is the best option for you. What Is a Redraw Facility? A redraw facility allows you to access extra repayments you’ve made on your home loan. This can be a flexible and cost-effective way to fund expenses like renovations, debt consolidation, or even purchasing a new car. However, there are several factors to weigh before withdrawing funds. Pros of Redrawing from Your Home Loan Lower Interest CostsBy keeping extra funds in your loan account, you reduce the loan balance and the interest payable. Accessing these funds when needed is a significant advantage. Flexibility in Accessing FundsRedrawing provides access to funds without the need for additional loan approvals, making it convenient for emergencies or planned expenses. Potential Cost Savings Compared to New LoansInstead of applying for a personal loan or car loan at higher interest rates, you can use the redraw facility, which typically offers a much lower interest rate.   Cons of Redrawing from Your Home Loan Impact on Loan TermsRedrawing funds increases your outstanding balance, potentially extending the duration of your loan and overall interest costs. Restricted Access in Some CasesSome lenders impose restrictions on redraw amounts or limit the frequency of withdrawals. Be sure to check your loan agreement. Fees and ConditionsCertain redraw facilities come with fees or conditions, such as minimum redraw amounts or penalties for early redraws.   Key Considerations Before Redrawing Understand Your Lender’s PoliciesDifferent lenders have varying redraw terms. For example, some allow unlimited redraws, while others impose strict caps. Make sure you know the rules before proceeding. Long-Term Financial GoalsThink about your broader financial strategy. Redrawing might solve a short-term cash flow problem, but it could also affect your ability to pay off your home loan sooner. Purpose of the RedrawUse redraw funds wisely. For example, redrawing to fund an appreciating asset like a home renovation can be beneficial, while using it for depreciating assets like cars or vacations may have a long-term cost.   Redrawing vs. Offset Accounts: Which Is Better? For some borrowers, an offset account may provide greater flexibility and financial benefits than a redraw facility. Here’s a quick comparison: Feature Redraw Facility Offset Account Access to Extra Funds Requires a formal request Immediate access Reduces Loan Balance Yes Yes Linked to Loan Account Yes No Potential Tax Benefits Limited Possible If you’re not sure which option is best, consult with a financial adviser or mortgage broker.   FAQs About Redrawing from Your Home Loan How does redrawing affect my mortgage?Redrawing increases your loan balance, which can extend the repayment term or increase monthly repayments. Can I use a redraw facility to buy a car?Yes, many borrowers use redraw funds for large purchases like cars. However, ensure the redraw cost doesn’t outweigh the potential benefits of taking a separate car loan. Is there a limit to how much I can redraw?The limit depends on how much you’ve paid in extra repayments. Some lenders also impose caps or minimum redraw amounts.   When Is Redrawing a Good Idea? You Need Funds for a Strategic Investment: Using redraw funds for renovations or starting a business could be beneficial. You’re Avoiding High-Interest Loans: Redrawing can be cheaper than taking a personal or payday loan. You’re Comfortable with Longer Loan Terms: If the redraw extends your mortgage, make sure it aligns with your financial goals.   Conclusion Redrawing from your home loan can be a smart financial move, but it’s not a one-size-fits-all solution. Always consider your lender’s terms, financial goals, and long-term implications before accessing redraw funds. If you’re unsure whether a redraw facility is right for you, contact us at Ethical Finance Broker AU for tailored advice. We’re here to help you make informed financial decisions that save you money in the long run.   Table of Contents Finance CalculatorsConsumer LoansBusiness LoansContact Us 16 Ambrose Street Rockingham, WA, Australia 6168 eric@ethicalfinancebroker.com.au 04 0115 1558 08 9525 3577 Legal Disclaimer, etc. Realistic Brokerage Services Ltd Pty Ltd (ABN 93 712 332 635) trading as Ethical Finance Broker AU and Financebroker.ai, is an Authorised Credit Representative (ACR #552958) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

Refinance an Existing Loan: How It Works and What to Expect

Quote Enquire Now Can I Refinance My Loan Through You? Yes, refinancing your current loan with my help is possible. Keep in mind that setup and exit fees might affect overall costs. Even with a lower interest rate, the value of refinancing depends on how much you’ve already paid and the loan amount. What Information Do I Need to Assess Your Options? To see if refinancing will be cost-effective, I’ll need three key details: With this information, I’ll determine if a new loan can benefit you. Can You Help Me Lower My Monthly Repayments? If your goal is to lower monthly payments, I can explore refinancing scenarios to align with your needs. Share your priorities, and I’ll help identify the most suitable plan. How to Begin Your Refinancing Journey Once you provide the necessary details, I’ll evaluate refinancing options and share recommendations. Reach out for assistance if you have questions or need clarity on any aspect. Table of Contents Transparency at Every Step No hidden fees or surprises. Our finance calculator delivers accurate quotes, ensuring you get honest, reliable results every time. 25+ Years of Experience With over 25 years in the industry. I guarantee that you’ll receive tailored finance solutions that meet your specific needs. Personalized Service I believe in personal connections. You’ll receive one-on-one guidance to find the best finance options for your unique situation. Legal Disclaimer, etc. Realistic Brokerage Services Ltd Pty Ltd (ABN 93 712 332 635) trading as Ethical Finance Broker, is an Authorised Credit Representative (ACR #552958) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803. Facebook-f Twitter

Exploring Business Loan Options: What’s Right for Your Business?

Ethical Finance Broker AU Quote Enquire Now Published on November 1, 2024 | 3 min read When considering business financing, understanding business loan options is essential. Here’s a guide to the best loan options for businesses. Traditional Business Loans Traditional business loans offer lump-sum financing with longer repayment terms and fixed or variable interest rates. These loans are ideal for well-established businesses aiming for significant growth, renovations, or real estate investments, though they often require strong financial records and collateral.   Short-Term Business Loans Short-term business loans provide quick funds for immediate needs with repayments typically within 3–18 months. This option is ideal for temporary cash flow issues, seasonal inventory, or urgent expenses, often coming with higher interest rates due to shorter terms.Your loan might also depend on your repayment schedule. Some lenders may offer a weekly or monthly repayment while others take repayments out daily. If you’re not sure how much you can borrow, you can try our free loan calculator to review your options. Business Lines of Credit A business line of credit is a revolving credit source that lets businesses withdraw funds as needed, paying interest only on the borrowed amount. It’s particularly useful for managing fluctuating cash flow and unforeseen expenses.   Revolving Credit Option Revolving credit allows businesses to draw and repay funds repeatedly, which is beneficial for managing fluctuating cash needs. Equipment Financing Equipment finance allows businesses to finance essential machinery, vehicles, or technology, with options to lease or purchase. This option often enables tax-deductible benefits, as the equipment itself is used as collateral. Invoice Financing Invoice financing allows businesses to borrow against unpaid invoices, offering immediate cash flow to cover operational costs while waiting for customer payments. This option benefits businesses dealing with slow-paying clients by reducing payment delays. Merchant Cash Advances Merchant cash advances provide funds based on anticipated future sales, which are repaid through daily credit card transaction percentages. This is useful for businesses with strong card sales, though rates are higher due to fast repayment requirements.  Secured vs. Unsecured Loans Secured loans require collateral, often offering lower interest rates, while unsecured loans do not require collateral but come with higher rates and stricter requirements.   Table of Contents Legal Disclaimer, etc. Realistic Brokerage Services Ltd Pty Ltd (ABN 93 712 332 635) trading as Ethical Finance Broker, is an Authorised Credit Representative (ACR #552958) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803. Facebook-f Twitter Legal Disclaimer, etc. Realistic Brokerage Services Ltd Pty Ltd (ABN 93 712 332 635) trading as Ethical Finance Broker AU and Financebroker.ai, is an Authorised Credit Representative (ACR #552958) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.