Specialist Mortgage, part of the SMATS Group, won the prestigious Finance Broker Business Award WA category in the Mortgage and Finance Association of Australian (MFAA) Excellence Awards.
Specialist Mortgage has been named winner of the Finance Broker Business Award WA in the Mortgage and Finance Association of Australian (MFAA) Excellence Awards 2023.
The award was presented at a glittering event held at Crown Perth on Thursday night (15 June), where Helen Avis, Director of Finance at Specialist Mortgage, was also recognised as a finalist in the Customer Service Award – Individual category.
As the Western Australian state winner, Specialist Mortgage becomes a finalist in the National Awards to be held on 27 July in Melbourne.
The MFAA Excellence awards are considered a pinnacle of prestige and recognition within the mortgage and finance industry. The awards are audited by Hall Chadwick accounting firm and are judged based on excellence and professionalism across all areas of business.
MFAA CEO Anja Pannek commented that the competition was strong this year as she congratulated winners and finalists at the awards ceremony.
“The phenomenal number of nominations for the MFAA Awards this year made a difficult task for our judges, but showed just how vibrant our industry is,” Ms Pannek said.
There are 24 award categories that cover brokers, businesses, lenders and support staff. The qualifying period is 1 January 2022 to 31 December 2022.
All entrants have submitted examples and evidence in earning their place on the winners’ rostrum.
Ms Avis said interest rates had an effect on the market but property transaction activity was still strong.
“The market is still super strong among buyers all over Australia, including investors, expats buying homes for use in the future, and residents buying first or second homes.
“Of course the higher interest rates mean that lending has reduced but also in some cases clients have had an increase in pay, or bonus that can be used to counterbalance that cost increase,” Ms Avis said.
The event’s sponsors included MPA Magazine, as well as ANZ, BOQ, Commonwealth Bank (CBA), Helia, La Trobe Financial, Macquarie Bank, ME Bank, Mortgage Choice, NAB, Prospa, QBE and Teachers Mutual Bank.
While record numbers of mortgagees are refinancing, it’s still a small proportion of overall lenders at a time when significant loan repayment savings can be made, according to MFAA State Excellence Awards nominee, Helen Avis of Specialist Mortgage.
Specialist Mortgage has been shortlisted for two honours in the upcoming MFAA State Excellence Awards.
The organisation is in the running for Best Finance Broker Business Award, while Finance Director Helen Avis, is in contention for the Best Customer Service Award.
Ms Avis, who was the recent recipient of The Advisor’s Better Business Awards for Customer Service Excellence, said the pause in interest rate rises presented borrowers with the breathing space to look for a better deal and to refinance their mortgage.
Ms Avis said that in 2022, Specialist Mortgage saw a 68 per cent leap in the dollar value of loans settled, with a 61 per cent increase in the volume of loans.
With more than 600,000 expatriates returning to Australia since the pandemic, Specialist Mortgage has increased the component of its clientele that comprises repatriated Australians now permanently living in Australia who required finance to purchase homes or are seeking better loan options.
The MFAA State Excellence Awards celebrate brokers, lenders, aggregators and industry professionals at the top of their game who have demonstrated exceptional customer service, professionalism, ethics and growth.
There are 24 awards that are judged based on excellence and professionalism across all areas of the business.
Ms Avis said a testament to their commitment to service was the fact 78 per cent of the company’s business was generated from existing clients and client referrals.
“We are proficient in dealing with those that don’t fit the traditional lending options.
“I communicate with lenders on a policy level and I raise my concerns and those of my clients to bring about meaningful change in lending practices.
“By gaining a stronger insight into how to correctly structure finance packages, we can significantly benefit your overall position.”
Refinancing at record levels for a reason
There are currently record levels of refinancing but this still only represents around 1 per cent of total outstanding housing loans in Australia each month.
Close to $20 billion in property loans were refinanced to new lenders in February – based on Australian Bureau of Statistics lending data – up 23 per cent on the same time last year.
A $500,000 loan taken out at the average rate of 2.98 percent in April 2022 is now paying a 6.48 per cent rate and repayments have gone up by $1,051.
Ms Avis said a renegotiated loan could save mortgagees hundreds of dollars each month.
Specialist Mortgage assists clients with all aspects of Australian property finance. With offices in Australia, Singapore, Hong Kong and the Middle East they specialise in securing residential mortgages for Australian Expatriates and foreign investors, that are often faced with limited affordable options from Australian and overseas lending providers.
Helen Avis, Director, Specialist Mortgage, has added another accolade to her impressive list of achievements, this time securing the Western Australian customer service award for an individual at The Adviser Better Business Awards.
On a night when the who’s who of Western Australia’s broking industry were rewarded for their achievements at The Adviser Better Business Awards, Finance Director of Specialist Mortgage, Helen Avis, took home the coveted Best Customer Service (Individual) Award.
In presenting the prestigious award, judges praised Ms Avis for “her outstanding submission that demonstrated her innovation, communication, and notable growth rates.”
The Specialist Mortgage team was also named as a finalist in the Best Customer Service (Office) Finalist category, while Ms Avis was a finalist in a second category, Best Residential Broker.
Speaking after her win, Ms Avis said 20 years of experience and an innate understanding of her clients’ needs, financial situations and aspirations was at the core of her success.
Ms Avis, who recently won the national MFAA Residential Finance Broker Award, said she went above and beyond in ensuring her advice delivered the best interest rates and took into account the many variables that go into securing the best financial package for her clients.
She added that 2023 shaped as another busy year, as she helped clients navigate the financial landscape as they confronted a forced shift from low interest fixed rate loans to higher variable rates, or the so-called mortgage cliff.
“A lot of clients are in this situation and we send them reminders that the new loan arrangement is coming and diligently work with them to plan accordingly.”
“It’s another hectic year ahead and we really look forward to helping clients, and that extends to their whole family, to get the best possible deal on their mortgage by benefiting from our experience, knowledge, contacts and commitment,” Ms Avis said.
Established in 1991, Specialist Mortgage provides all types of lending options to Australian property investors.
On the night, 97 finalists who were in the running for 19 awards, including brokers and brokerages, business development managers (BDM), and loan administrators as well as thought leaders and mentors.
The awards, run in partnership by The Advisor and NAB, are in their tenth year.
Winner announcements were featured in The Adviser.
Interest rates being pushed up by rampant inflation are forcing mortgagees and prospective buyers to find new ways of servicing debt.
Borrowers are increasingly turning to refinancing and pairing up with friends and family to overcome the weighty burden of rapidly rising interest rates.
NAB research released Friday (27 January) reveals that 40 per cent of young Australians are considering buying a property with someone other than a romantic partner.
Outside of dropping their price range, buying with another person tops the list of compromises Aussies aged 18 to 29 are prepared to make to get into the market.
Almost a third are willing to buy and rent the property out initially, while 20 per cent say they’re up for moving into a share house.
For those already paying off a mortgage, record numbers are refinancing in the quest for a better deal.
Borrowers refinanced a record $19.5 billion of loans in November, the most recent month for which we have data, according to the Reserve Bank of Australia (RBA).
By way of comparison, that was 20.4% higher than the year before and 88.2% higher than two years before.
Helen Avis, Director of Finance, Specialist Mortgage, said the RBA has hinted that at least one more rate rise is coming as it wrestles with inflation that has taken off, recently hitting 7.3 per cent.
“In December, it said it wanted to ‘return inflation to the 2-3% target range over time’ and would ‘do what is necessary to achieve that outcome’, by which it means increasing the official cash rate yet again.”
“So if it’s been a while since you took out your home loan, now would be a good time to think about refinancing,” Ms Avis said.
Borrowers getting creative
NAB Executive (Home Ownership), Andy Kerr, said younger people are getting creative when it comes to making their property dreams come true.
“Younger Australians aren’t letting meeting a partner or getting married later in life hold them back from owning a home now.
“People are definitely looking at their options and casting the net wider when thinking about who they could buy with,” Mr Kerr said.
“Rentvesting – purchasing in one location and then renting in another – is another trend that is creeping up in popularity.
“Interestingly, our data shows that first home buyers aren’t being deterred from entering the property market, despite the market softening overall and rising cost-of-living.
“Buyers are just thinking outside of the box to make it happen.”
The NAB research also found that the most common compromise (41 per cent) buyers of all ages were willing to make was the amount they’re willing to spend.
About one in three said they would trade off the size of the land, garden or outdoor space (31 per cent), while about 28 per cent would give up their preferred location.
One in 10 aren’t willing to budge at all on their wish list.
Mr Kerr said regardless of who you were buying with it’s important that you talk about how you’ll jointly save for a deposit, agree on the property and meet ongoing costs.
“As buying a home is the biggest purchase most of us will make, it’s also worth considering getting a solicitor involved for additional comfort,” he said.
In what has been a rewarding and productive 2022 for Helen Avis, the Specialist Mortgage Director has added a finalist shortlisting for the Women in Finance Awards 2022 to her list of accolades.
Helen Avis, Director, Specialist Mortgage, has been shortlisted as a finalist for Mortgage Broker of the Year in the Women in Finance Awards 2022.
The highly anticipated Women in Finance Awards 2022 shines a light on every highly skilled and talented woman propelling the finance industry forward.
Considered the pinnacle of innovation and excellence, the awards program was created to highlight the impressive achievements of top leading women in the sector, recognising them for their remarkable contribution and expertise.
The finalist list, which was announced on Friday, 7 October, features 249 high-achieving professionals across 29 submission-based categories.
The August winner of the prestigious MFAA Residential Finance Broker Award, Helen Avis, said the award was particularly rewarding in such a turbulent time for the property market.
Maja Garaca Djurdjevic, editor of Wealth at Momentum Media, commented: “This year we have been absolutely inundated by submissions and we’re just so excited to see so many of you take time out of your busy schedules to nominate your friends, colleagues, and peers for this coveted accolade.
“As usual, we would like to congratulate all the finalists of the sixth annual Women in Finance Awards and extend our congratulations to everyone who lodged a submission.
“We thank you for the support you’ve shown women in this space — support that is key for growing women’s presence in our financial services sector.”
Expat specialists
Specialist Mortgage is part of the SMATS Group, which provides property and tax services.
Ms Avis said she aims to respond to client enquiries within 24 hours with the aim of booking an initial consult within the first week of an enquiry.
“Often Australian expatriate clients residing overseas seek information on the property market and tax implications,” she said.
“Through SMATS Group, we offer a unique comprehensive service where clients can obtain a free initial consult with a qualified buyer’s agent and tax accountant to assist them in making the best-informed decisions.
“Six out of ten Australian expats had returned home since the onset of the pandemic, with many looking at purchasing a home before their return.
“In an already fiercely competitive property market this has proved to be difficult for expats, not only from a logistical position but also from a financial position, as many expats don’t fit traditional lending options.
Having experienced the trials and tribulations as an expat herself, Ms Avis has established a trusted position within the expatriate community.
She understands securing attractive Australian finance options for expats is not only difficult but often a complicated process while residing overseas.
Helen Avis, winner of the prestigious MFAA Residential Finance Broker Award, said interest rate concerns were beginning to weigh on the minds of clients but business was still strong as buyers remained highly active in the real estate market.
The Mortgage and Finance Association of Australia (MFAA) Awards have named Helen Avis of Specialist Mortgage (part of the SMATS Group of Companies) winner of the national Residential Finance Broker Award.
The winners of the MFAA National Excellence Awards 2022 were recently announced at a glamorous event at The Star in Sydney.
The MFAA National Excellence Awards acknowledge brokers, lenders, aggregators and industry professionals who have demonstrated exceptional customer service, professionalism, ethics, growth and innovation.
Ms Avis said the award was the culmination of more than two decades building a business with her husband, Steve Douglas, Executive Chairman of SMATS Group.
With offices in Australia, Singapore, Hong Kong and the Middle East, Ms Avis and the Specialist Mortgage team specialise in securing mortgages and consolidating loans for Australian expatriates and foreign investors who are often faced with limited affordable options from Australian and overseas lending providers.
“I am honoured to be recognised by my industry peers and named as the winner of this award. I love what I do. Helping people secure their home or investment property gives me so much satisfaction.”
Ms Avis, who won the Western Australian state award, settled a staggering $187 million in loans for 2021, a 67 per cent increase on the previous year with no signs of slowing down.
2022 is looking to be even more successful, off the back of a personal record set in July 2021 settling more than $25 million across 29 deals.
Going ballistic
Speaking to API Magazine, Ms Avis said this year had been challenging because of the interest rate hike cycle being undertaken by the Reserve Bank of Australia, but the market had heated up again.
“We noticed after the 0.5 per cent rate rise in June, that enquiries appeared to slow down, however I believe, buyers were just being cautious and wanted to see the impact on property prices.
“Since then, our enquiry rate has gone ballistic again, with home buyers and investors locally and overseas wanting to buy.
“Many buyers believe property prices will decrease but our clients report that homes located in highly desirable suburbs are still attracting a lot of interest and competition at auction.
“It will be interesting to see how the rapid interest rises impact buyer activity, days on market and property prices.
“I am also expecting to see more clients looking to purchase as a result of interstate and overseas migration.”
Concerns about interest rates were on clients’ minds and they have voted with their feet when choosing their loan type.
“Up until October last year the majority of our clients secured fixed rate loans, but when fixed rates started going up clients were opting to split loans, now almost all of my clients are selecting variable rate loans.”
Specialist Mortgage Director, Helen Avis, has been named winner of the WA Residential Finance Broker Award at the annual Mortgage and Finance Association of Australia State Excellence Awards.
Specialist Mortgage Director, Helen Avis, has been named winner of the WA Residential Finance Broker Award at the annual Mortgage and Finance Association of Australia (MFAA) State Excellence Awards.
The awards highlight brokers, broker businesses and staff who have demonstrated exceptional customer service, professionalism, ethics, growth and innovation.
Judged by an independent panel of industry specialists, business professionals and experts, the MFAA Excellence Awards are the most rigorous in the Australian mortgage and finance industry.
Specialist Mortgage had also been named a finalist, in the WA Residential Finance Broker Award category.
Ms Avis settled a staggering $187 million in loans for 2021, a 67 per cent increase on the previous year with no signs of slowing down.
2022 is looking to be even more successful, off the back of a personal record set in July 2021 settling more than $25 million across 29 deals.
“I am honoured to have been recognised by my industry peers and to have been selected from all the entrants across WA and named as the winner of this award,” Ms Avis said.
With offices in Australia, Singapore, Hong Kong and the Middle East, Ms Avis and the Specialist Mortgage team specialise in securing mortgages and consolidating loans for Australian expatriates and foreign investors who are often faced with limited affordable options from Australian and overseas lending providers.
Ms Avis said 80 per cent of new business generated is from existing client referrals.
“With more than 600,000 returning expats since the pandemic, we have also helped repatriating Aussies who require finance to purchase a home upon their return to Australia,” Ms Avis said.
Specialist Mortgage communicates with clients personally via phone or video conferencing apps to ensure they are happy with the service they are receiving through their lender, answer any questions they may have, and chat about their future requirements.
“This has resulted in a 90 per cent loan conversion rate and 80 per cent of new business generated from existing client referrals,” Ms Avis said.
Market changing quickly
The property market in which Ms Avis was rewarded has undergone a huge transformation in just the six months that have passed since the judging period closed.
Interest rates are taking off as major capital city markets decline, which is a far cry from the cheap money and buyer urgency that gripped the market in 2021.
Ms Avis said in the last three months there had been a noticeable easing of activity, starting with the lead-up to the election and then after the May and June rate rises.
“There are still buyers but they’re not willing to pay inflated prices, so that bubble has burst but value will come back,” she said.
“In reality some people were just overpaying to secure their property.
“Last weekend I read in the press about an auction in Sydney where the property was being marketed at $2.6m, had a reserve of $2.8m and sold at $3.2m, but in general auction rates have slowed.”
She said she expected at some point in the next 18 months the mortgage rate would be back up to 5 per cent.
“In the 20 years of being in this industry a good rate had a 4 in front of it, so we will return to these levels with inflation rising.
“Most of my clients took advantage of the low rates and fixed their mortgages, so when those end we will need to make sure they are getting the best negotiated rate, as that will be quite a jump in payments.
“It will be interesting to see how the market evolves.”
Nationals await
The MFAA stated that it acknowledged Helen Avis for demonstrating professionalism, integrity, ethical conduct, growth and innovation.
“To be recognised as a finalist speaks volumes of their exceptional practice and professionalism in the mortgage and finance industry,” the MFAA added.
Over the last 20 years the awards have played a key role in lifting the standards of service and professionalism across Australia’s mortgage and finance industry.
As a state winner, Ms Avis is now in the running to win the prestigious national title at the MFAA National Excellence Awards in July.
The Australian Mortgage Awards 2022 (AMAs) will feature 25 categories plus the two main awards – Westpac Australian Broker of the Year and Liberty Australian Brokerage of the Year.
The AMAs are sponsored by Westpac (event partner), Adelaide Bank, Bankwest, BOQ Broker, Commonwealth Bank, Dye & Durham, Equity-One, MFAA, La Trobe Financial, Liberty, FBAA, Mortgage Choice, MSA National, NextGen, OnDeck, Prime Capital and Resimac.
With the Reserve Bank of Australia set to raise rates throughout 2022 and the banks following without hesitation, is it time for homeowners and investors to reshape their bank finance?
The Reserve Bank of Australia (RBA) has lifted its official cash rate by 25 basis points to 0.35 per cent, the first such upward movement since November 2010.
With markets pricing in the virtual certainty of another rise in June to take the cash rate target to at least 0.5 per cent, there is a degree of fear among many home owners and investors who face the prospect of repayments that stretch already-pressured household budgets.
If passed on in full by banks, the rate rise will add more than $65 a month to repayments on a $500,000 mortgage, and double that on a million-dollar loan.
Whatever the outcome for individual property owners or investors, industry leaders suggest there are numerous ways to prepare your mortgage and minimise interest rate rise shockwaves.
Time to refinance?
Now is the perfect time for homeowners and investors to review the interest rates attached to their borrowings.
Zippy Financial Director and Principal Broker Louisa Sanghera said as interest rates rise it will become harder to qualify for a new loan and is all the more reason to refinance.
“A 0.25 per cent difference to an investor not only eats away at their income, but it can make a difference to them being positively or negatively geared, which in turn could cost them in tax,” she said.
According to Two Red Shoes founder and mortgage broker Rebecca Jarrett-Dalton, if you haven’t reduced your rate during the last two years, you should definitely look at refinancing.
“Variable rates are so competitive, why wouldn’t you try and save some interest?” Ms Jarrett-Dalton said.
Mortgage broker at Specialist Mortgage, Carolyn Xaftellis, agreed one of the best reasons to refinance a home loan was to lower the interest rate on an existing loan.
“Refinancing can be a great financial move if it reduces your home loan repayment, shortens the term of your loan, or reduces the amount of interest you pay across the entire loan term.
“On a $500,000 principal and interest loan a drop of 0.5 per cent will save $135 per month,” Ms Xaftellis said.
However, it’s not just the interest rate that will make an impact.
“It’s important to look at initial and ongoing fees and the use of interest reducing facilities such as an offset account,” she said.
“An offset account with an average balance of $25,000 on a 3.19 per cent principal and interest loan will save $797 per year in interest costs, which will reduce the balance of the loan and overall loan term,” she said.
Paying regular attention to changes in lender offerings is also important, suggested Specialist Mortgage’s Senior Finance Executive, Bridget Bowman.
“If your current lender is not prepared to offer a competitive rate, there will be another lender that will.
“This can often result in savings of thousands of dollars over the course of a year, so it’s definitely worth asking the question,” Ms Bowman told API Magazine.
Fixing the problem
The decision whether to fix a rate or go with the variable alternative is, according to Ms Jarrett-Dalton, “crystal ball territory”.
“This one is a very hard one to answer,” Ms Jarrett-Dalton said.
“The standard caveat applies – it depends on your personal needs and circumstances, how long you plan to keep the property, how much extra you can repay, etc, but more than this, if you are fixing a rate right now you are effectively giving yourself a rate increase before the banks do so,” Ms Jarrett-Dalton said.
This is because the offered fixed rates currently are an average of 1 per cent to 2 per cent higher than variable rates.
Borrowers are largely ditching fixed rate home loans. Fixed rate lending is, at 28 percent of new lending in February, way down from a peak of 47 percent in July last year.
“You might still think this is worthwhile if it lets you sleep at night or if you think rates will rise more than this amount during the term you choose.
“For example, two-year fixed rates are hovering on average in the high 3 per cents; do you think variable rates will rise more than one full per cent within the next two years for you to have been better off in your fixed rate from now?”
Mortgage Choice and Smartline National Sales Director David Zammit said ultra-low fixed interest rates are now a thing of the past.
“To put things into perspective, the lowest fixed rate on the Mortgage Choice panel of lenders today is 2.69 per cent p.a. and the lowest variable rate offered by a lender on our panel is 1.89 per cent,” he said.
“Borrowers are responding – Mortgage Choice home loan submission data showed that in March, 20 per cent of loans had a fixed component (80 per cent variable) compared to March last year when 39 per cent of loans had a fixed component (62 per cent variable).
“That said, RBA rate rises will push up the cost of variable interest rates.
“Those borrowers looking for certainty will still favour fixing their rate so they know their maximum repayments for that period of time,” he said.
Making mortgage calculations
The quickest way to assess how a rate rise will impact a homeowner or investor is to use their lender’s online repayment calculator, says Specialist Mortgage’s Bridget Bowman.
“This allows customers to determine how much a percentage rate rise will impact them in terms of dollars.”
Ms Jarrett-Dalton said there is much that goes into a loan assessment, so it’s not as simple as only using a calculator.
“But if you’re going to, avoid the borrowing capacity calculators as these are very rough only – and stick to a simple loan comparison or simple maths; your current loan balance, multiplied by the potential interest rate saving, then divide this by 12 if you’d like a monthly figure,” she said.
After entering the loan amount and interest rate, Ms Sanghera recommends increasing the interest rate in the calculator by 0.25 per cent increments to see how their mortgage could potentially rise.
“I would recommend doing this up to, say, an interest rate of five or six per cent.
“If you are worried you cannot manage the potential repayments, then you should go and speak to your broker, who can restructure the debt to reduce repayments, or they could look to fix the interest rate on your home loan,” she said.
“We are already seeing our clients paying under the asking price and sales agents advertising “price adjusted” so prices are already slowing down,” Ms Sanghera said.
Ms Jarrett-Dalton has also witnessed hesitancy from property owners.
“People are factoring in price drops.
“If they aren’t yet in the market, they are also hopeful and waiting for a bargain.
“This is in itself a little bit self-fulfilling.
“Definitely as rates rise and it’s a little harder and dearer to borrow, this will have an impact but the biggest factor still seems to remain supply versus demand and this is without inward migration.”
While affordability is also a key concern, Carolyn Xaftellis suggested the cost of borrowing is likely to remain well below long-term averages.
“There will be continued housing demand for an extended period of time,” she said.
“Other factors to consider are trends in labour markets, demographic patterns, supply levels and affordability, which will all play a key role in how housing markets perform in different parts of the county.”
Optimistically, REINSW CEO Tim McKibbin’s overview is that in the current environment an interest rate rise is unlikely to result in too many mortgagors being pushed into difficulty.
“Through APRA, banks are already required to build into a finance facility the capacity for a mortgagor to absorb additional costs to service the debt,” he said.
A rate rise is also likely to create competition between banks.
“The competition between banks to win your business is going to be intense, so use your broker to make sure you get the best deal,” David Zammit said.
Undeterred by property prices in Melbourne and Sydney coming off the boil or the threat of higher interest rates, expatriate Australians are continuing to snap up prestige properties.
Undeterred by property prices in Melbourne and Sydney coming off the boil or the threat of higher interest rates, expatriate Australians are continuing to snap up properties priced considerably higher than median city values.
Helen Avis, the SMATS Group Director of Finance, said the expatriates that had recently returned to Australia were moving from rentals into their own properties and could afford prestige real estate in highly sought-after areas.
“The $2 million to $4 million bracket has been very active as expats plan their eventual return and want to buy the future home, or move from their temporary rentals having recently returned,” Ms Avis said.
The recently-name finalist in the national Better Business Awards, in Best Residential Broker category, said she had also seen a lot of buyers targeting regional areas, holiday locations and the holiday home market.
“There’s very little investor or expatriate interest in CBD city apartments – that market has dried up – but there is still a lot of demand for luxury apartments as well as houses in the higher-priced suburbs.”
The first quarter of the year has seen Australian dwelling values rise by 2.4 per cent, less than half the pace of the same period last year.
But expatriates seeking a home rather than an investment can afford to pay the premiums that two years of rapid price growth has delivered and are not phased at the prospect of higher interest rates.
Interesting times
The big four bank economists are forecasting official cash rate hikes could begin between June and September.
Not waiting for the Reserve Bank of Australia, Australia’s third and fourth largest banks, NAB and ANZ, on Friday (1 April) hiked fixed rates by up to 0.40 percentage points.
“We have seen all banks raise fixed rates so many times in the last six months and I expect the RBA will raise rates from June,” Ms Avis said.
Helen Avis, finalist in the Better Business Awards
“I don’t think they want to raise them and then continue to raise them regularly, so it should be a slow progression, but the market is expecting interest rates to rise.
“All borrowers are assessed at 3 per cent over the benchmark rate, so it shouldn’t put stress on people’s ability to maintain their loans.
“With the borders just opening back up, we should have a two-year backlog of intended migrants, expats and international students start to push up the rental market as well as CBD sales.
“The intended migrants will likely rent to start off with, but most will likely want to buy, so demand will again be strengthened.”
Ms Avis said SMATS Group’s aussieproperty.com had clients looking at all states’ markets but Queensland was generating the most interest.
Sydney, Melbourne, Perth and the West Australian southwest were also on the radar of returning expatriates, she said.
The Better Business Awards seek to champion the leading players of the broking industry in each state and territory of Australia.
Reaching the finalists stage is regarded as an incredible achievement across the Australian broking industry, showcasing the depth of dedication and commitment each individual and team brings to advancing the industry.
Ms Avis said she was humbled to be recognised and proud to be named as a finalist. Winners are announced at a ceremony on 19 May.
Specialist Mortgage finance director Helen Avis has been recognised in this year’s MPA Top 100 list, as one of the Top Mortgage brokers writing the highest value of loans in FY21; further adding to a long history of achievements and awards in the Australian finance industry.
Ms Avis settled a staggering $153 million in loans for FY21, a 67% increase on the previous year with no signs of slowing down. Signing 249 loans to rank in the Top 25, considerable momentum started to gather steam around September 2019. 2022 is looking to be even more successful, off the back of a personal record set in July 2021 settling more than $25 million across 29 deals.
“Over the past 12 months the market has become hugely competitive and experienced a meteoric rise in housing values. Unprecedented low-interest rates have not only attracted homebuyers but also resulted in property investors returning to the market along with high levels of refinancing.”
“A lot more buyers were acting and buying property than they were previously, whether as owner-occupiers, future owner-occupiers or as investors,”
“The sheer volume of people, the speed of the market and price points have been phenomenal. Economists are predicting a slowdown in the property market however I’m not seeing any signs of it yet.” Ms Avis added.
More than 600,000 Australians have returned home from international cities since the onset of COVID-19. The appeal of Australia being a safe haven has seen a demand for family homes gain momentum particularly in Queensland, Melbourne and Sydney.
Having experienced the trials and tribulations as an expat herself, Ms Avis has established a trusted position within the expatriate community and understands securing attractive Australian finance options for expats is not only difficult but often a complicated process whilst residing overseas.
‘The last 12 months was not without challenges, with banks taking extended times to process applications throughout the pandemic,’
“For expats we have limited lenders with attractive terms and often longer processing times. The market is fiercely competitive, in some circumstances, buyers have had to make a choice between securing the lowest rate or the quickest loan processing time.”
Setting herself apart from other brokers as a specialist in expatriate finance with her extensive experience and knowledge of expat financial package terms and conditions, Ms Avis’ ability to successfully communicate to banks to get finance approved quickly makes her a leader in the field.
“I am very optimistic for the next few years,”
“We are likely to see more expats returning, more interstate moving, migrants finally moving to Australia, and international students coming back will help the rental market in the cities of Melbourne and Sydney.
“One positive taken away is the importance of being compassionate to clients, especially those who have faced job uncertainty and financial distress or have experienced delays in getting loan documents signed and notarised through lockdown restrictions.”
Having a career spanning more than three decades, Ms Avis has built a reputation on her tenacity to respond promptly and professionally and working tirelessly to secure the best financial packages for her clients.
The lessons learnt through the pandemic are ones Ms Avis says will carry the Specialist Mortgage team in good stead for the future, understanding there is no substitute for hard work and looking forward to continued growth in 2022.
