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Buying a new home is exciting But to make sure you are making the best decision, you need to be sensible and do your homework ahead of putting in your offer. With this in mind, below are five tips to help you secure your dream home, or investment property with confidence:   1. Ensure you know what you are getting yourself into. Take your time with this process; once you have settled on a property, there’s no turning back. It’s essential for you to know what you are buying and to be aware of any issues that may arise. Building reports: a written account of the property's conditions. Building reports can be helpful to negotiate a lower price if there is damage that will need to be fixed. Pest inspections: Thorough visual inspection of the roof void, subfloor, and external buildings and gardens for any pests. Pest inspections are important as they can prevent many expensive damages that may occur after purchase. Strata report: If you are looking to buy an apartment, unit, or townhouse, the strata report covers all the aspects involved in running and maintaining a block of properties and all the common areas that go with them.   2. Scout the neighbourhood. This can be easily done by taking a walk around the area, checking out the local coffee shop, and getting a sense of the community.   3. Make sure you understand what the future holds in the local area. Check with local councils for any new infrastructure impacting your property. Your local council will be able to tell you about the zoning for your property and if there are any new developments planned.   4. Do all costs fit into your budget? Buying a property involves a lot more than just the purchase price. You need to consider the following figures in your budget. Stamp duty Conveyancing fees Mortgage Insurance Building insurance Moving costs Strata fees Ongoing mortgage repayments   5. Find the best home loan value. You can choose with a Fixed or Variable interest rate home loan that will allow you to be comfortable in your property purchase. Fixed Rate A fixed interest rate loan is a loan where the interest rate on the loan remains the same for the life of the loan. Variable Rate A variable interest rate loan is a loan where the interest charged on the outstanding balance fluctuates based on an underlying benchmark or index that periodically changes. Whether you choose to fix your home loan, or prefer a variable option it is really down to personal preference and your financial circumstances.   Our local Lending Specialists can talk you through the right information, to find the right product for you. Talk to us today.

Buying a house is exciting and life changing. It all starts with saving for the deposit. Set a clear goal. Ensure you’re clear on the type of property you’d like to be buy, with a clear idea of what you want. Consider some of the following: Ideal locations and distance to work. The type of home (e.g. stand-alone, townhouse or apartment). The number of bedrooms. Whether you want to buy or build. Be sure to understand what are non-negotiables and those areas you’re willing to compromise. Find your budget. It is a good idea to look at properties in the potential area you want to buy a house in. Once you have found a few properties that you are interested in and have a price-guide in mind, you will need to understand whether you can realistically afford the property. Deposit: A 20% deposit is ideal when purchasing a property. However, you may be able to buy with less. Borrowing: This is the time to talk to the GMCU team to assess your borrowing capacity, understanding how much you can borrow. Repayments: Consider the GMCU Home Loan Repayment Calculator to find out what your repayments could be. Save the deposit Now that you have a good idea of how much you need for a deposit, you can put a savings plan in place. If you are buying a house with someone else, make a savings plan together. Automating your Savings, with set-up transfers allow you to 'set and forget'. You can grow your savings without having to worry about transferring money each pay. Our local Lending Specialists can help you understand how much you’ll need for a deposit, and assist with achieving your savings goals. Talk to us today.

Did you know you can send money from your bank account to an overseas bank account with GMCU’s International Payments Service? You can send money to over 200 countries and territories in over 130 currencies. Benefits: Funds are generally credited within 2-3 business days No surprise overseas bank fees** Cost-effective; you can potentially save money by sending in the beneficiary’s local currency** What you need to send money overseas? You will need to provide your beneficiary's full name and details of the beneficiary’s bank account, including their ^IBAN (International Bank Account Number) if they are in Europe. Our local team are here to help. If you need assistance sending money overseas, we’re a phone call away. **You must provide the beneficiary’s full street address to comply with Australian Government regulations. Include the beneficiary bank’s code (sort code, SWIFT address, or routing number).

The best way to secure your assets is to start early. It can be hard to think too far ahead, however your future-self will thank you. In your 20’s: Learn how to budget so you can stay in control of your money. Start saving for assets, whether a house, car or travel. In your 30’s: Consider having life and contents insurance. Set up an emergency fund. Consider investing in shares or property. Prepare a will. In your 40’s: Consolidate the good habits you have formed, and keep saving. Consider reviewing your superannuation. Start planning what you may need for your retirement. In your 50’s: Consider making those extra mortgage payments to bring it closer and reduce the interest you’re paying each month. In your 60’s: Transition to retirement. Eligible to receive the Age Pension. Take advantage of concessions. Plan to make sure your assets are secured in the future. View all our transaction and savings accounts. Our local team are here to help. If you need assistance, we’re a phone call away.

Knowing how to store your money and personal belongings safely and securely could help you avoid the common travel risks of petty theft, robbery, or ATM tampering. Prep before you leave: Opening a Savings Account with incentives to exchange points for accommodation or flights on your next trip. Having a credit or debit card handy may help add convenience to your trip, as it could eliminate the need for carrying large amounts of hard cash. Before departing, it is a good idea to notify your bank of your plans to travel abroad. Inform them of the dates you’ll be overseas and the specific dates you’ll be in each country if you plan to travel to multiple locations. In the case of emergencies, travel insurance while overseas could be worth the investment. Protect your valuables: Keep your money in multiple places. Do not leave your valuables unattended, and consider keeping your wallet or physical cash in your front pockets wherever possible. Only use reputable ATMs. Our local team are here to help. If you need assistance ahead of planning an overseas trip, we’re a phone call away.

According to the Australian Bureau of Statistics (ABS), over half (55%) of all Australians aged 15 and over were exposed to a scam during 2020-21. At GMCU, we’re committed to keeping you and your money safe online. Which of the below are you doing to keep yourself safe? 1. Download the GMCU App Download the GMCU App and register using your Internet Banking login details. 2. Set up secure logins Set up your 4-9 digit PIN, pattern login, Touch ID (for Touch ID compatible iOS devices), or Face ID (for Face ID compatible devices). 3. Set up alerts Always use secure mail when using the GMCU App. Your mobile device is a way of accessing GMCU Internet Banking, so don’t keep your login information with your mobile device. Contact GMCU immediately if you’ve lost your mobile device or feel someone may know your login details. Ensure you log out of the app when you are finished. You can do this by tapping the padlock icon in the top right-hand corner. 4. Use new and private logins only Always ensure your GMCU App is up to date, consider setting up automatic updates on your phone. 5. Make sure your devices are secure Make sure you have passwords or biometric logins (like fingerprint, or Face ID) to your devices. And don't share passwords to your devices if you can avoid it. 6. Never send your credit card details online Never send your credit card details online, to anyone. 7. If you suspect something is fraudulent - act fast We use an Australian-based service to monitor unusual account activity 24/7. This monitoring helps us to detect and stop fraud quickly. If you receive a message asking you to return a call to us on 1300 705 750, please do so. If you receive an SMS text asking to confirm a transaction, please respond to it. 8. Understand more about scams and fraud Learn more about scams and fraud, and how to spot them (via Scamwatch from the Australian Government). Our local team are here to help. If you have any questions relating to scams or fraud, or perhaps you have concerns, please call us or visit your local branch.