TMFG, Awardee for Excellence in Diversity!

For 21 years, the Australian Mortgage Awards have been honouring the best in the business across the nation. Set to be an in person event for the first time since 2019, this year’s event will feature 25 categories plus the two major awards – Westpac Australian Broker of the Year and Liberty Australian Brokerage of the Year.

And guess what, team?

TM Finance Group have been announced as an awardee for excellence in Diversification!

This is an event we have won in 2017, for the very same category and we are super proud to have been included in this prestigious list again!

Diversification is a category close to hearts. As a boutique firm, it takes hard work to stay atop the myriad pathways for lending. It could be easy for us to specialise in just one area of mortgage broking and cruise a long, but why, when we can make certain we service all our clients as best we can in all areas of their financial journey, not just their home loan.

TM Finance Group have a depth of knowledge any many areas of finance and we will continue to maintain our excellent service to complement these skills. Because, after all, what you want, baby we want to get it!

Thanks again for the incredible support from all of you too.

Have something diverse you need finance for? Get in touch!

5 pragmatic ways to cope with the rate rise rollercoaster

As you know, interest rates are rising. The Reserve Bank has already made two increases to the cash rate, with more almost certain to follow. As a result, home loan rates will also rise.

So, what should you do in response?

1. Don’t panic.

Your lender wouldn’t have approved your mortgage unless it was convinced you could cope with a series of rate rises. So unless your financial position has deteriorated since then, you should be able to cope with higher repayments.

2. Get ahead of any problems.

If you think you might struggle to keep making your repayments, contact your lender now to discuss your options. It’s important you make contact before you miss a repayment, not after, because the more warning you give your lender, the more flexible they’re likely to be.

3. Budget for rate rises.

Assume your mortgage rate will rise by 2 percentage points. Calculate what your new monthly repayment would be and start paying it now. You can put the extra money into an offset account, a redraw facility or a special savings account.

4. Improve your savings rate.

Look for ways to increase your income and reduce your expenses.

5. Switch to a better loan.

The home loan market is intensely competitive, which is why lenders often charge new borrowers lower interest rates than loyal customers. So you could make big savings by refinancing to a lender offering a comparable loan at a lower rate.