Mortgage: time to lock in your rate? Expert property advice from Chris Bates
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What are the differences between fixed and variable interest rates in 2023?
Property investors often talk about using debt to build wealth. In the share market, that's called gearing. With the BetaShares WealthBuilder range, investors can access moderate gearing into shares, and with the newly launched GG-BL, That means exposure to a diversified portfolio of around 1,300 global companies excluding Australia, all with no loan applications, credit checks, or margin calls. Gearing magnifies both gains and losses, so it's only suitable for investors with a very high tolerance for risk. You can learn more about the WealthBuilder range of ETFs at the BetaShares website. And don't forget to read the PDS and TMD to decide if it's right for you. BetaShares Capital Limited is the issuer.
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You'll find our full disclosure, disclaimer and link to our financial services guide in the show notes.
Hello, I'm Kate Campbell. And I'm Owen Rask. And you're listening to the Australian Finance Podcast.
A podcast where we talk about money, finance, investing, and all that good stuff.
We're helping you invest your time and money better one podcast episode at a time.
Yes, so please subscribe if you like the series. And don't forget you can find us on social media. We're on all the platforms. Kate, where can people go?
You can find us on Instagram and Twitter at Rask Australia. That's R-A-S-K Australia.
And I'm Owen Rask on Twitter or Owen Rask AU on Instagram. Beware the imitators. People like to copy us. Without further ado, let's jump in to today's episode. Hey, Kate, welcome to this episode of the Australian Finance Podcast. It is wonderful to be back, Owen. It is because we're talking property. We're talking mortgages. We're talking probably the most important asset in every listener's lives, which is property with Chris Bates. Chris, welcome to the show, mate.
Okay. Love chatting to you guys. Thanks for the invite.
It's great to have you back, mate. Since we last spoke, you told us off air just a few minutes ago that you were voted number five in Australia as a mortgage broker, which is just outrageous. It's so good, mate. And having used your services before as a client, I can vouch for it. Did you expect it?
Oh, we had a massive year. I mean, that's based on revenue numbers in terms of, well, I guess settlement numbers in terms of loans settled. So we had a big year. We knew we'd be up there. We came 11th last year and, yeah, we climbed a few places to fifth. So a massive effort by our team. And, yeah, we've got a much bigger team, so that helps us to keep on writing more and helping more people, really. That's ultimately what it is. We helped probably... 250, you know, couples and families this year and maybe the year before was like probably around 200 or 180. So, yeah, we'd love to help more people. That's what we're here for and it's been a good year.
Yeah, cool. So we'll put a link in the show notes to Wealthful. And people can visit the website as well. But they can, how does it normally work, Chris? So just real quick, for those people that haven't seen a mortgage broker, maybe they went like Kate and went direct to a bank or something like that. When you see a mortgage broker, what's the first port of call? Do you like call them or do you drop an exact form that you're filling? Like how does it work?
Well, I think you can call them definitely. Sometimes you're going to catch them off guard and they may not have the time to deal with you like then and there.
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Chapters
5 chapters
1
What are the differences between fixed and variable interest rates in 2023?
0:00–6:33
2
How can first-time buyers navigate the mortgage process?
6:33–9:38
3
What should buyers consider when looking for quality properties?
9:38–20:51
4
How do interest rate changes affect borrowing capacity?
20:51–35:12
5
What strategies can first-time buyers use to save for a deposit?
35:12–38:10
Speakers
3 identifiedMore from Australian Finance Podcast
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