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About Me

Chris Booth

Current Rating: 4.89 / 5
Mortgage Broker
Sydney, New South Wales
0402 567384
I joined the Announcer Group in January 2010 following an extensive 15 year career in Personal and Corporate banking.

Father of three great kids, and a beautiful and patient wife Kellie, and a fantastic group of friends from here and abroad. I support the Roosters in the NRL and much to the frustration of others (I am an Aussie Citizen) love to see the English Cricket and Rugby team torment the Aussies.

I am responsible for ensuring the Announcer Mortgages have access to the best in consumer and commercial lending products. Qualified Financial Planner and Accredited Mortgage Consultant with the MFAA.

My Activity

Chris Booth from Announcer Group - what drives me

Announcer Group - Dream it, Organise it, Grow it, Protect it, Enjoy it!

How Announcer helps people save money on their home loan

Q: Comment: Come on Australian Home Loan borrowers, we need to reverse these headlines

• 85% of Australian mortgage holders don’t know their home loan rate
• Most Australian home loan customers are paying way more than needed on their mortgage

Let’s be more proactive to find out the interest rate on our home loans and call your lender today to get a better rate. If you’re not sure how simply ask a question or call your mortgage or finance broker to help.

Could one call save you thousands?
A: Too true Paul ...... we are having many proactive conversations right now with @Announcer clients reviewing rates, budgets and restructuring loans to obtain the best rates, reduce interest costs but also working hard to repay the debt in the most economical way!
Top tips...
1. Find out what your rates are.
2. Do a budget.
3. Seek advice.....biased towards using a Mortgage Broker :)

Check out a our little video on the simple things we are doing at HQ!

There is always room to join the @Announcer club, call us to enquire about our membership :) or post your questions on simplyaskit and we will will help!
Have a great weekend!
Thx Paul.
Q: Our offer has been accepted on a new home and we are just waiting on the finance before we exchange. Is there any way the property can be taken off the market so we don’t lose it?
A: Cool ....sounds very stressful :)
LinkedIn with me and we can connect and maybe help each other in the future.
You will find me at - Chris Booth, Announcer
Q: Our offer has been accepted on a new home and we are just waiting on the finance before we exchange. Is there any way the property can be taken off the market so we don’t lose it?
A: Hi Sam,
Thanks for the reply.

My advice is the same as above - you need to speak immediately with your solicitor on this, typically it is 0.25% of the purchase price to hold "subject to finance"then the full deposit due typically 5 days later being full 10%. But again, your solicitor is on point here and should be giving you this advice on your specific purchase requirements.
Kevin makes some good points above - Other things to get done are pest and build inspections, all the normal recommended searches on the property to totally de- risk the property side of the transaction, purchase insurance to protect your new home in the settlement period etc.

There are plenty of things for you to consider in this purchase, but then post, you need to have a review of your personal insurances and estate planning needs - we have all these people in our offices www.announcer.com.au.
Having a team approach, we find gives our clients peace of mind and we do the hard yards for you.

Let me know if we can have a chat and link in together Sam?

This is just the start of an exciting journey for you guys buying a home....good luck! :)
Q: Our offer has been accepted on a new home and we are just waiting on the finance before we exchange. Is there any way the property can be taken off the market so we don’t lose it?
A: Hi Sam M
Yes there is a way to do this.
I would speak to your solicitor or conveyencor first thing and get their advice on the matter.
Once they walk you through the options available and explain the next steps, the solicitor will speak with the vendors and their solicitors to lock in a "subject to finance" arrangement.
If agreed it comes at a much smaller cost than the full deposit and buys you time to get the finance in order, typically 5 days. It formally locks the property into exchange mode and if everything goes well with your finance on the 5th day you pay the balance of your agreed deposit and move forward to settlement. In this "subject to finance" period no other contracts to sell can be entered into.
If finance doesnt work out ....worst case you can walk away and lose the small holding deposit only.
If you are working with a good broker for the finance this is always part of the team approach taken with interacting with the solicitor.
Good luck!!!
Q: We are currently looking at a 4 bedroom home in Engadine for $940,000 and have $150,000 to cover deposit, stamp duty and legal fees. My husband’s income is income is $136,000 and I work permanent part time and earn about $67,000. We have 2 kids under 10….. no other debts and would like to know how much we might be able to borrow, thank you?
A: Hi Anne
If you work on the $ figure from a budget of what you guys are saving per month after accounting for all your after tax income and credit and lifestyle costs, this is the basis on which a bank will look at your affordability.
What is your goal to repay the loan off? 10, 20 or 30 years?
What plans do you have to support the kids in school and high school?
What bonus' do you get?
I have lots of questions 😊
If you want to discuss what the options are in context with your other life and financial goals, we would love to help you at Announcer.
Let me know if you wish to chat.
Q: As the importance of company culture is widely recognised for not only financial success, but also staff retention, job satisfaction, and productivity within the business, I’m wondering, what strategies have others found effective in building and promoting a positive and high-spirited team culture?
A: Hi Camille
Check out the Announcer Group on linkedin and our CEO Andrew Rocks.
We have a culture which promotes health and wellbeing along with a strong team work and hardworking ethos.
The platform of remuneration is scalable and allows performance to reflect the outcome.
I think it as a personal thing and our culture might not be for everyone but I enjoy what we have and have alot of fun at the office.
Good luck
Q: We are looking at a new loan and want to know what the difference is between redraw and offset account. Does interest rate change if we did have the offset?
A: Hi Drew S,

I think the comments above have addressed the usage of offset and redraw and both provide a similar ability to reduce interest costs and repay your home loan quicker.

Another important consideration when determining the offset over redraw, is this loan I am guessing is for your home? If a goal is to buy a new home in the future and then make this current home an investment property, then an offset is a great way to maintain the limit and same balance on your current loan and focus on increasing your savings in the offset.

Once you do upgrade your home you now can use all the money in your offset to reduce your non deductible debt. Your old home debt is now deductible and you have maximised its performance here.

This is a great conversation to have with Announcer where you can have the deal team being Financial Adviser, Accountant, Lawyer, Property Adviser ....and me to ensure we set the correct platform today to achieve the best future financial outcomes.

Happy to have a chat.

Chris Booth
02 9251 5558
Q: There's so many brokers. Do they all have access to the same bank deals? And when I get my loan, will my broker proactively identify when I should refinance - or do I need to do this investigation myself every year?
A: Hi Daniel O

Just a quick note about the review process and relationship between a broker and the client.

Firstly the review process, at Announcer we run an ongoing project called Gemma. This is a simple call to the clients current lender on an annual basis to see if they can offer any better interest rates. This is a challenging market where we have seen a big change in pricing, this year alone we have saved our Announcer clients over $500,000 in interest costs!

Well worth just the proactive call and our clients love it when we save them money!

Secondly, we annually provide feedback to our clients on their lending affordability and equity position which provides a platform for the face to face annual review.

Happy to chat further about team Announcer and the great things we do for our clients!


Have a great weekend.

02 9251 5558
Q: We are looking to buy a new home and would prefer to buy before we put our own home on the market. Is that possible, can you still obtain bridging loans and what are the issues we need to be considering before we start looking?
A: hi Frances

The guys have made great points on the availability of bridging finance above.
2 considerations to add.
Firstly the loans are split in 2 being the bridge component or part which is to be repaid post sale of your home.
The other part the is your retained loan.
When doing the numbers to calculate these two loans the banks assign some risk buffer in incase you are unable to sell your home at the current estimated price. Typically a 10% buffer.
So this will mean you need good equity available in your current home to do a bridge loan. A lender may go above 80% loan to value of the properties but this is expensive as the bank will request lenders mortgage insurance.
Secondly, affordability needs to be demonstrated on the higher risk buffered post sale loan.
My thoughts are if you have a good deal team together to look at finance, agent for sale, solicitor, many of my clients can buy with a long dated settlement and secure a sale of their home under a normal contract to avoid bridging finance.

Happy to introduce my team.

Q: When we got our home loan early this year the rate was 4.22% and since then the RBA has cut rates twice but when I looked at our rate online it is showing 4.02%. Should we have received more than 0.2% rate drop?
A: I forgot to mention, one of the great things about using a broker.
At Announcer, all of our clients get a review of their lending annually in our Project Gemma program.
We review the clients current rates, compare these to the market, make that call to the lender to provide a better rate or if the opportunity to move makes good financial sense, we recommend and support the process of a move.
This can be difficult to stay on top of so get professionals working for you Tom!
Q: When we got our home loan early this year the rate was 4.22% and since then the RBA has cut rates twice but when I looked at our rate online it is showing 4.02%. Should we have received more than 0.2% rate drop?
A: Good question Tom,
This is one many people will be asking.
On one hand you are right, the RBA has reduced their cash rate this year and in the old days this would have likely been passed on by the banks.
Today, the banks have very complicated ways in which they get money in to lend out to it's customers. The cost of this money is getting a bit more expensive. For example an average 1 year term deposit rate is 3% as banks fight for customers savings.
So the banks are unwilling and not obligated to pass on the rate cuts to its home loan product rates. That being said I bet they will go up quicker😆.
Having said all this the 4.02% rate is not a bad rate!
The great thing is it is now easier than the old days to move your loan to another cheaper lender. Obviously, there is alot to consider here and before you jump for a great rate, it's a good idea to speak with a broker and fully consider your options.
Great rates below 4% are still available to good customers.
Sometimes, just a good old fashioned annoyed call to your current lender may get you a lower rate, no harm in asking, but be prepared with some competitor rates you can use in these negotiations.
If you need help call me Tom.
Chris Booth
Announcer Mortgages
Q: Trying buy a unit in St Kilda but finding it difficult to obtain finance as it's 41 square metres. Is 50 squares always the minimum - any advice of which banks might help?
A: This is a property specific question and the review of the contract and floor plan is important. Another consideration is the amount you wish to borrow against the property.
There are lenders who I believe would consider accepting this property up tp 90% assuming affordability is met by the bank policy.
Happy to get more details from you and get to work in the research of your options.