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About Me

Jennifer Bachir CPA

Current Rating: 4.33 / 5
Finance Broker
Key Finance and Investments
www.keyfinance.net.au
Haymarket, New South Wales
0499 993210
I am an experienced and capable mortgage broker with formal qualifications in Accounting and Finance. I am dedicated to providing my clients with friendly, personal and prompt service.

My Activity

blog post
Are you feeling Hygge yet?
Hygge (pronounced hue-guh) is a Danish word for feeling cosy, charming or special – and it’s being bandied around a lot when it comes to interior design.
According to the latest r ...
blog post
Australians are moving to regional centres in droves
Regional Australian towns have a lot to recommend at the moment. A close-knit community, shorter commutes and greater affordability than what you might find in our capital cities.
The real winners in ...
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Q: What is the process to getting your jewellery insured and what would I need to make a claim? Are there any organisations you can recommend for this coverage?
A: You could add it to your home and contents. To make a claim you would possibly need proof of purchase and or certificates of purchase. Check details of your policy in the PDS, or call up the insurance company, alternatively if you go through a broker ask them these questions.
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Q: I read somewhere that it is possible to ask employers to salary sacrifice things like cars and laptops. Can you explain why that would be beneficial versus purchasing those items the regular way?
A: Basically you are using your income prior to being taxed so you pay less tax on your income because your income effectively reduces after you make those salary sacrifice purchases
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Q: For a first-time buyer's home loan, do all banks in all states require a 10% deposit or is that negotiable?
A: Guarantor loans with some added extras.
- 100% + costs + $50k cash out for FHB.
- Debt consolidation up to 5% of purchase price for all qualified applicants.
- Investment loans accepted
- 3.79% rates apply
- Servicing not required by guarantors.
Call me anytime to discuss
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Q: For a first-time buyer's home loan, do all banks in all states require a 10% deposit or is that negotiable?
A: A deposit is ideal but there are also guarantor loans help first home buyers use the equity in their parents home to purchase property, no deposit required.
Also, don't forget they can be eligible for the first home owners grant.

Contact me for more information.

Kind regards,
Jennifer
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Q: My wife and I are looking at a house & land package as an investment option. Which areas should we be looking at... Brisbane, Sunshine Coast, Melbourne or Adelaide?
A: There are house and land packages in several areas in Sydney and interstate. A good starting point would be to determine whether you want to invest in Sydney or interstate. If you already have investments in Sydney it might be a good idea to take advantage of land tax exemptions you may be eligible for interstate. Also look at the areas with the h&l packages and which have the most potential for capital growth.
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Q: Do you think Kingsgrove is a good area to invest in? Is there growth with the development of units in the area ?
A: Kingsgrove has already experienced quite significant growth, in the past 12 months alone it had experienced abit over 10% with the current median house price at over $1.22M and it seems like it is not slowing down anytime soon.

If you are looking at a specific property let me know if you would like property report, I can provide them at no cost and help you determine how much you can afford to invest.
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Q: Can an employer deduct superannuation payments from commissions?
A: Commission is part of ordinary time earnings so yes.
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Q: I'm about to buy a home, how much should I allow for conveyancing? Are there any other fees I should be aware of?
A: $1500 but I know conveyancers that can do it for $900 contact me if you want a number
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Q: I am a first time buyer. What is the % deposit I should be aiming for to get a decent rate on a mortgage?
A: Aim for 20%. If your parents have equity in their house or cash to gift to you and are willing to help they can contribute to the deposit.
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Q: If I borrow money to purchase shares, is the interest charge tax-deductible?
A: Yes most likely if it's set up correctly
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Q: If I start up my own business - can I qualify for a Research and Development grant from the Government?
A: Quite possibly. If your business is creating a product, solving a problem or creating a new idea you could be eligible for research and development grants !!
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Q: when do i have to pay mortgage insurance?
A: Generally if your loan exceeds 80% of the Purchase price or in the case of refinancing, 80% of the value of the property.

Some professions have exemptions up to 95%.
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Q: What's a realistic private sale price for sale on a 2011 Suburu outback with about 70,000ks? Good condition, sunroof, tinted windows.
A: Go to www.redbook.com.au you'll be able to find a pretty accurate value when you put in the exact car model details.
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Q: How much does a standard Statement of Advice from a financial planner normally cost?
A: It depends on the complexity. A standard SOA is approx $1,200 to $1,500
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Q: Can I swap out of a fixed rate mortgage at Bank X and move to Bank Y at the same old fixed rate and therefore have the new bank effectively pay the old bank for the mark-to-market on the fix-rate break costs?
A: Effectively it can work out that way as many lenders are offering cash back incentives to switch to them.

If you want I can look at your current loan break costs vs savings on switching to a lender with a more comparative rate. There are rates as low as 3.69%.

Kind regards
Jennifer
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Q: If selling 50% share in an investment property, how is the capital gains tax calculated?
A: Michael

There are three ways that CGT are calculated and the choice of method is determined according to your situation. And whichever method is used, you will pay CGT on your share (50%).

Generally, a capital gain is the difference between your capital proceeds and the cost base of the CGT asset. The three methods differ in the way in which the cost base is determined which will depend on when you acquired and how long the asset was held for. So to answer your question I would need information.

Goodluck
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Q: I just started my own business and want some some advice of when I need to get an ABN and register for GST
A: If you expect your income to be > $75,000 then you'll need to register or if you are in particular industries registering for gst is mandatory.



Kind regards
Jennifer
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Q: I am keen to use the equity in my home to invest - maybe real estate. Maybe another option. Does anyone have any firm advice on the available options at the moment?
A: Plenty of options, the sky is the limit from this general scenario. Register your details on our website to receive a call back from a financial planner.

Kind regards
Jennifer
www.keyfinance.net.au
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Q: Hi has anyone had any dealings with U- Bank? Good or bad? Im thinking about refinancing my home loan with them for their online rate of 3.74%.
A: Hi
I don't offer loans with U bank but I do know it is an online lender and the loan would be very basic with no frills.

If you do decide to go with them purely based on rate think about the following:

Do you want:
an offset account
a credit card
Ability to make extra repayments
Ability to redraw
Staff members to talk to / customer service
Fees involved
Comparison rate

Rate isn't always the deciding factor of a loan depending on your expectations.

Kind regards
Jennifer
www.keyfinance.net.au
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Q: As a young investor, what bank is the most accessible for a home loan for an investment?
A: Hi there

Hard to say given very little details at hand.

If you know what you can borrow that's a good starting point. I can help you determine your borrowing capacity quite easily however I need further details about you.

Being young I would assume you are at an early stage in your career. Generally if you have a stable job and some savings to put towards a deposit or even parents that can help out with a deposit by cash or equity in their own home it will generally be quite an easy deal with most lenders.

More information can be found on our website, you can also register your details on our website for a call back to discuss your options and borrowing capacity.

Kind regards
Jennifer

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Q: When is a good time to get back into the property market I sold for a great price and am getting a great return for my money.but I am now renting?
A: Whenever you find a good deal or a property you love and can afford.

There is no 'right' time but having cash in the bank is not as valuable as putting it towards an asset. The longer you wait the longer you miss out on possible capital growth and it's very easy to spend any surplus cash you might have which will reduce what you have to put towards your next purchase.

Kind Regards
Jennifer
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Q: How come when borrowing money using the equity in my property to invest in shares the interest rate is different to that of my home loan?
A: It's considered investment which is always a higher rate than home loan rates. This can be fixed by refinancing.

You can register your details on our website for a call back within 24hours.

Kind regards
Jennifer
www.keyfinance.net.au
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Q: What types of facilities are available to borrow money to use for share trading/investing? Do I need to give property equity, or will the shares be sufficient as collateral? What is the cheapest option to ensure the greatest overall result back to me?
A: The most common way is to obtain cash out from your current home loan however there are other options. Hard to discuss without knowing your situation.

Kind regards
Jennifer


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Q: I have been searching the comparison websites for the cheapest home loan rate and found an online lender at 3.63%. Does that mean I can't use a mortgage broker to help me through the loan process ?
A: Great rate but what is the comparison rate? And is rate all you are after ? What about other benefits like an offset account, the ability to make extra repayments, redraw facility, a dedicated broker to talk to, linked credit cards with waived annual fees, the list goes on. If you do choose to go with an online lender, it still doesn't mean you can't use a broker most brokers are accredited with every lender including the online lenders, as such they can help you with the paper work at no extra cost.

Register your details on our website for a call back.

Kind regards
Jennifer
www.keyfinance.net.au
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Q: How much of a deposit do I need for a home loan in Sydney for a property around 650k to 700k?
A: Hi Effie

Great question.

It really depends on your situation. Ideally a 20% deposit ($130-140K) would be great so that you don't have to pay Lenders Mortgage Insurance. That's not to say LMI is a bad thing - in some cases paying LMI is the price first home owners pay to enter the property market, which can be worth paying given the potential capital growth some properties achieve (especially in the Sydney market). Note that some professions are entitled to borrow over 80% without paying LMI.

However, you can technically buy a property with as little as 5% deposit. It all depends on your situation.

Don't forget if you are a first home buyer you are eligible for the $10,000 grant towards a new property under $750k.

I hope this helps.

Kind regards
Jennifer Bachir
Key Finance and Investments
www.keyfinance.net.au
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Q: How can I find a suitable financial planner?
A: Make sure your chosen planner is suitably qualified.

We offer complimentary, no obligations consultations for financial planning.

Kind regards
Jennifer Bachir
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Q: I would like to buy my first property in the next few years. Should I aim for a 10 or 20% deposit?
A: You should definitely aim for 20% to avoid LMI (lender mortgage insurance). However, if eligible you may be entitled to an exemption.

Kind regards
Jennifer Bachir
Key Finance and Investments
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Q: Would you recommend sticking with the majors or is it safe to go with a second tier lender? I was stung in the GFC
A: Your choice of lender is based on your needs and situation. Second tier are safe and each lender has different niches.

Kind regards
Jennifer Bachir
Key Finance and Investments
www.keyfinance.net.au
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Q: How can I find out what mortgage insurance will cost for different lending ratios above 80%?
A: Visit my website I have some useful calculators.

www.keyfinance.net.au
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Q: I have a property and need to build on it a house in the future, if i needto borrow money from the bank when the repayment has to start, is it after finishing the construction an what normaly happen do they give the money to me or I gove them the invoice?
A: Sam,

Generally construction loans are used for building on land.

Construction loans are paid as progress payments to the builder.

There would be two parts of the loan one for the land which will settle first then the second part is for the construction which are drawn throughout the projects completion with drawdowns at certain milestones of the construction.

Drawdowns are paid to the builder and your loan increases after every drawdown.
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Q: I am self employed and while my income has been good in the last few months, things were a bit tight before. I am keen to grow the business but have no security available. What options do I have to obtain a loan?
A: Hi Jonathan

For me to provide a comprehensive answer I need more information.

In general lending may be difficult without security, however not necessarily impossible.

There are however ways in which you can identify opportunities to increase efficiency of the business as well as cash flow solutions.

regards
Jennifer
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Q: When you get pre-approval from a lender, how long is this usually valid for?
A: Depends on the lender can be up to 6 months.
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Q: I am 67.. Can I still change from my current lender to another lender and still have 20 years to payback the loan Thanks ?
A: Quick answer is - most likely yes

Lenders will look at exit strategy and ability to service the loan.

Without knowing your situation it's hard to provide a thorough answer.
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Q: I'm currently going through divorce, and need $60,000 for settlement. I'm 57 years old and would like to access my super to pay her out. Can I access my super (she wants cash and not a super transfer) to pay her, if I have a court order?
A: You are able to draw funds from super however the amount depends on what you currently have in super and your situation.
Key Finance and Investments
www.keyfinance.net.au
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Q: Why is it more difficult to attain a personal loan over a credit card?
A: Personal loans are quite easy to get however the loan purpose is limited - eg it can't be for building or investment

We can get personal loans within 24hours !

www.keyfinance.net.au
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Q: We are investigating franchising our business and want to get some advice on which banks are more proactive in lending to franchises?
A: Definitiley a major lender.

Regards
Jennifer Bachir
Key Finance and Investments
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Q: When selling a house what are the costs involved besides real estate and legal?
A: Michael

Costs of selling include the following three categories:

-real estate agent costs
-lender fees
-other selling costs

For more details of costs within these categories, visit my website, I have a selling cost calculator which is very user friendly:

www.keyfinance.net.au/faqs-calculators

Hope that helps.

Key Finance and Investments
www.keyfinance.net.au

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Q: I've been told I can use a deposit bond instead of cashing in some investments to buy a property, is that possible?
A: It certainly is.
If you want to know more please don't hesitate to contact me.

Kind regards
Jennifer Bachir
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Q: How do I pick the best homeloan for me? What do I need to be looking out for?
A: Hi Pru

That's a broad question but nonetheless very relevant!

There are many options for homeloans the main criteria to decide on include the following:

- Interest rate: do you want to have fixed rate or variable or split
-Offset account 100% or partial or none
-Redraw facility
-Flexibility to make extra repayments
-Interest only vs Principle and interest – likely to be P/I on a home loan

Having a broker to guide you through this process will not cost you anything and will help clarify your needs and expectations which will help us source the most suitable product for you.

Kind Regards,
Jennifer Bachir
Key Finance and Investments
www.keyfinance.net.au
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Q: What are the advantages of a self managed superannuation fund and is it easy to do?
A: Emma

Advantages are:

Control
You have complete control over the fund's investments, however, you must develop and maintain an appropriate investment objective and strategy.

Flexibility
Control of your fund means you're able to invest in a range of assets incluidng bank deposits, direct property, shares, managed funds and pooled investment trusts. You're also able to switch or modify those investments as you see fit.

Control Over Design and Operation
As members are generally the trustees of the fund, you have a degree of control over the rules of the fund and how it operates. For example, the fund can run both accumulation and pension phases. Specific rules about the payment of benefits can also be introduced, for example, restricting when a child can commute a pension.

The Fund Can Go on After Your Death
The fund can provide benefits to you, your spouse and even your children. This means that the fund can continue after your death which can allow for many estate planning benefits.

Cost Savings
Generally, the cost of managing a self-managed superannuation fund does not increase as your super investment grows. So the greater the account balance, the more cost effective the SMSF is. Also, SMSF's do not have the same prudential regulation and do not have to be licensed.

Tax Concessions
The fund can provide tax concessions such as the deferral of lump sum tax in the pension phase. There are also opportunities to use credits from franked dividends to reduce the 15% tax rate.

Advantages for Small Business
Typically many small business owners are able to utilise super rules which permit SMSF's to invest in business real property either directly or through non geared unit trusts or warrant trusts and lease back the property to a related party.

Setting up can be easy if you appoint the right professional help. It needs to be structured correctly to ensure eligibility for tax concessions, receive contributions and easy to administer.

Kind regards
Jennifer Bachir
Key Finance and Investments
www.keyfinance.net.au


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Q: I'm looking at buying a new car, but I'm not sure if I should finance it or save to buy a cheaper second hand one. Is it worth getting a personal loan for?
A: Hi Saxon

Buying a brand new car definitely has the benefit of capped servicing and warranty, however cars can be personal so it's all about your choice of make model and how much you want to spend. If you have your eye on a pricey car but want to budget your spend a car loan can be quite useful and I can help you structure the loan to ensure monthly repayments suit your affordability.

Do keep in mind that depending on what you do for work you can claim deductions for car expenses and even more so if self employed.

On a separate note, I have access to a dealership network which can potentially give you a discount of up to $8,000 on your car purchase.


Kind regards
Jennifer Bachir
Key Finance and Investments
www.keyfinance.net.au
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Q: 4 months ago we purchased an existing home, which we want to do some work to. When is the earliest we can request a refinance with our Bank?
A: Nathan there should not be any problem refinancing anytime however you will need a broker to determine if there is any value in refinancing given some exit fees you may have to pay.

But quite a few lenders are offering cash back offers of $1500 for refinancing. Keep in mind other lenders want your business so most of the time they can give you a better deal and as a broker we can further negotiate on your behalf!

Hope that helps.

Jennifer
www.keyfinance.net.au

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Q: We are looking to buy a new home to live - can you provide some advice as to how we should go about it as we will need to sell our existing home - should we sell before we buy?
A: Hi Matt

You don't necessarily have to sell your current home first. Using a bridging loan or deposit guarantee you can certainly put a deposit on your dream home prior to selling your existing home, and you can do this without spending any money prior to settling on the sale of your home.

There are eligibility criteria to use these products which I am happy to discuss.

Kind regards
Jennifer