About us
With a dedication to personalised service and expert advice, we are here to guide you every step of the way.
Welcome to Erba Finance
Welcome to Erba Finance, your trusted partner in growing your wealth or growing your family’s wealth, serving clients Australia-wide without geographical limitations. Our commitment to exceptional service and swift transaction times is the cornerstone of our business. We are passionate about helping families expand their wealth, providing them with the freedom to make choices and the opportunity to retire earlier than they might have thought possible.
At Erba Finance, we believe that knowledge of finance is the secret to acquiring more property and achieving financial freedom. Our goal is to demystify the world of finance and offer our clients a smooth and seamless experience as they navigate their investment journey.
Our Director, Wendy Yeung, brings a wealth of knowledge from her 25-year tenure as a property investor. As a former teacher, Wendy witnessed firsthand the pressure her colleagues faced, reducing their hours to manage the overwhelming workload, thereby enduring a pay cut just to continue in their cherished roles. An Expert Level teacher’s salary stood at $100,000, at the time, yet the strain was palpable.
Wendy’s strategy was straightforward yet effective: investing in cash flow positive properties that not only sustain themselves but also generate a rental income of $20,000 per annum, effectively substituting a day’s wage. Her vision was clear – with five such properties, one could replace a full-time income, allowing inflation and time to work their magic.
We understand that professionals. At Erba Finance, we specialise in guiding you to maximise the potential of leveraging the bank’s money to create boundless wealth.
Our services are particularly tailored to support medicos, lawyers, and teachers, enabling them to secure between 90 – 95% LVR without the burden of LMI, and all at competitive rates.
Furthermore, we are exploring innovative ways to integrate educational content seamlessly on our website. Our vision is to create a suite of dedicated educational content our clients can access to help our clients.
Let Erba Finance be the key to unlocking your financial potential and guiding you towards a prosperous future.
Wendy Yeung
Mortgage Broker - Director - Erba Finance
I felt really stuck as a teacher because I didn’t enjoy where I was working. When it became too much for me to handle a full-time job, I was able to rely on the money I made from my rental properties. This income allowed me to leave my job for the sake of my mental health when I couldn’t take it anymore.
I often speak with other teachers who desperately want to leave their jobs but feel they can’t. They’re trapped. Some reduce their hours, accepting lower pay, to look after their mental well-being.
I’ve always had a passion for property and used to visit houses in my free time. I discovered that understanding finances was crucial to buying more properties, and now I want to make it easier for my clients to do the same.
For many years, I balanced teaching with property investment. I noticed that having enough money gave parents the chance to spend more time with their kids and afford things that eased family stress. Parents had options, and so did their children. Lots of teachers wanted to leave the profession but had families to support and mortgages to pay.
Coming from a migrant background and having only the essentials growing up, with the memory of an employee stealing from our family business, education is very important in our Asian culture. We don’t question whether our kids will go to university; we ask which one they’ll attend, what they’ll study, and how we’ll support them.
Our featured customer reviews
Erba Finance is committed to delivering outstanding service that exceeds your expectations, guaranteeing that every client experiences unparalleled customer support.
Words can't describe how appreciative I am right now.
“Words can’t describe how appreciative I am right now, thank you so much for the continued dedication to find the best loan for our refinancing needs… As a business owner its sometimes challenging to get things across the line with your assistance it happened and we are now able to complete our long overdue renovations.”
Leanne T
She fought for me when I struggle standing up for myself. She was determined, kind and encouraging.
My House buying experience as a neurodivergent person:
“I wanted to buy my grandparents’ house, due to sentimental reasons.
I booked an appointment to see a broker in person, Wendy Yeung. Wendy was very helpful answering my questions and helped me understand some of the terminology. She was very supportive and encouraging especially this being my first experience buying a house.
Settlement was still a few months off due to family sorting through the house and belongings. So, in the meantime, Wendy encouraging me to keep working as much as I could and continue to save.
She went above and beyond for me. She picked me up and drove me to the police station to get a declaration signed. She printed out the paperwork again when I made a mistake. She kept me accountable by checking in with me. She had documents dropped at my workplace for me to sign when we were on time limit.
She kept being supportive and looking for more solutions when problems kept rising with the house.
She would explain things in different ways to help me understand, and sometimes even repeatedly explain the same thing to me. She never got mad or frustrated, she was just so supportive and helpful.
She fought for me when I struggle standing up for myself. She was determined, kind and encouraging.
I am glad I met her; she truly is an inspiration and I’m glad I had her in my corner.
Settlement got delayed due to lender being restrictive. But Wendy continues to look for other options.
I don’t know what a bad broker is, but I do know what a good one is; Someone who fights for you, is upfront with you about reality and continue to work with you for a solution. Wendy fits that perfectly.”
Antonio Anspach
Common questions and answers
In addition to offering competitive rates, we pride ourselves on being available to help with whatever questions you have throughout the life of your loan. We don’t discriminate against first-time buyers or experienced investors – no matter who you are, we’re committed to being there when you need.
What does a broker do?
A broker is a finance professional who will work with you one-on-one to discuss your borrowing goals and help you determine how much money you can qualify for. They typically provide a more personalised level of service than you would receive from a lender and also have access to loans from multiple lenders, so they can find the best loan terms for your unique situation.
Extensive Market Knowledge with a strong understanding of the lending landscape
We maintain deep relationships with various lenders, often gaining access to deals and products that may not be available elsewhere.
Comprehensive Financial PlanningOur focus extends beyond securing a loan. We analyze your entire financial situation to offer strategic advice and structure your loan to align with your long-term goals, potentially saving you significant amounts over the life of your mortgage.Ongoing Support and EngagementThe relationship doesn’t end at settlement. We routinely review your loan and proactively reach out when better options arise, ensuring your mortgage continues to serve you effectively over time.
Innovative Problem-Solving
Challenges are viewed as opportunities. Our expertise allows us to devise creative solutions for complex situations that might be overlooked by others in the industry. We help to make your loan process as smooth as possible, including working with your solicitor, accountant and agent to make sure things go smoothly and quickly for you. We have picked up experts in their field and can recommend professionals that can help you achieve your goals.
Client Education and Empowerment
We prioritize empowering our clients by breaking down complex financial concepts into clear, understandable terms. This approach helps you make informed decisions about your financial future. No question is a silly question. We take the time to help you until you understand.
Strong Advocacy
When faced with obstacles, we actively advocate on your behalf. Our established relationships and industry knowledge enable us to navigate challenges effectively, often achieving favorable outcomes. Sometimes we go beyond the normal calling. Recently our team – helped a client connect to an expert that negotiated with the Council and previous bank on their behalf saving them more than $100k – asked the right questions of a client’s accountant and helped the client save over $100k with their ATO debt. – smoothed the communication and helped reassure the agent that the client has no problem with their borrowing and were waiting on some simple documentation to finalise their loan when the agent started believing the clients had insincere intentions. – advocated for the client when the lender started having doubts about the ability of the client.
Streamlined Processes and Transparency
Respecting your time is essential. We work diligently to streamline the entire process, anticipating potential issues and keeping you informed every step of the way.
By partnering with a broker committed to these principles, you gain more than just assistance with a loan; you receive a dedicated ally focused on helping you achieve your financial aspirations now and in the future. With a blend of market expertise, personalized strategy, and consistent support, we aim to enhance your experience throughout the mortgage journey.
How can a broker help me?
Strategic Partnerships with Banks
Banks view us brokers as strategic partners who bring them clients that suit their products. It’s a win-win situation – banks can either pay their employees or pay us. We package everything up for them according to their specifications, streamlining the process. Bank employees, like us brokers, earn about $140k – $200k per annum based on bonuses and commissions.
Comprehensive Market Knowledge
Let’s face it – we don’t know what we don’t know, right? With so many lenders out there, how can you possibly know what each bank offers? This is where our expertise comes in handy. My company does a soft touch check and looks at all available lenders to choose one that’s suitable for your specific needs.
Protecting Your Credit Score
When you go from bank to bank, each inquiry is officially logged, which can reduce your credit rating. With us, it’s just one inquiry versus potentially 10 or more. This approach protects your credit score while still giving you access to a wide range of options.
Unbiased Advice and Better Options
Banks are there to sell their own products, not everyone else’s. They’re not obliged to tell you that another bank has a faster turnaround time when you need to make an offer quickly. They won’t mention if there’s a better product with more features or a better interest rate from one of the other 50 lenders. As brokers, we have access to a vast array of products and can find the best fit for your unique situation.
Education and Long-term Partnership
Unlike bank employees who are there to sell products and process as many applications as possible, we see our clients as lifelong partners. Your success is our success. We’re interested in educating you on the best structure for your goals and providing ongoing support as your needs change over time.
Time and Money Savings
While you might spend months deciding and looking around, I could have refinanced you out of your 8.34% loan using the tools available to me to find you the best deal of 5.99% variable or 5.59% fixed. Just imagine how much you could save on your loan!By choosing to work with a broker like me, you’re getting personalized service, expert guidance, access to a wide range of products, and potentially significant savings. We handle all the paperwork, negotiations, and communications with lenders, saving you time and effort. Our goal is to build a long-term relationship, helping you optimize your mortgage throughout the life of the loan.So, why settle for a single bank’s offerings when you can have an expert worki
How much can I borrow?
While our borrowing calculator can give you a decent idea of how much money you may be able to take out, for a more precise assessment, please get in touch with our team. We can then go through your options with you and chat about your circumstances in further detail.
Should I go for a fixed or variable rate?
Just as the name suggests, variable-rate home loans have interest rates that change over time. They are often more flexible than other types of loans, with features like redraw facility and extra payment options. However, they do not have fixed repayment amounts.
On the other hand, fixed-rate home loans come with predictable monthly repayments – you will know exactly how much you need to pay each month for the entire duration of the loan term. These kinds of loans might not be as flexible in terms of features but offer borrowers peace of mind when budgeting repayments.
In choosing which type of loan is right for you, it’s good to weigh up what’s most important to you – whether that’s flexibility or certainty around your monthly repayments.
Which lenders do you work with?
Because we are connected to a mortgage aggregator, we have the privilege of being able to source loan options from over 50 different lenders. This means that we can help you find multiple suitable options for you and your specific situation.
What is serviceability?
SERVICEABILITY
The income from your rent will be taken into account.
Most banks will shave off some. The % shaving will depend on the bank. This is often 10% to 20% shaving. So if you get $500 rent per week, a shaving of 10% will mean the lender will assume your rent is 450pw as income. This is to cover potential loss of income from having an IP.
Costs can also be taken into account, but some banks will not take any more off after shaving.
For the same investor, some banks will lend more than others. The difference in serviceability can be hundreds of thousands.
Serviceability can depend on many things, not just the amount of spare cash you have.
Serviceability can include
1. What job you hold,
2. What appetite for the bank has for at the time
3. Property type,
4. Location
5. Job you have.
6. Full time, part time, casual
7. How long you have been at this job.
8. Whether you are an essential worker or not
9. How the bank defines essential workers
10. Whether your income includes bonuses, penalty rates, allowances, commissions, overtime – regular or not….
How do we help flippers?
Flippers and developers deliberately buy the property to add value and then sell it within a quick turnaround time and then go again.
Some will do 1 or 2 projects per year, others will do 10 – 20 per year.
For renovators, this might take between 3 – 6 months before they pay all the money back.
For developers, their projects can be as quick as 6 months to 3 years.
These loans don’t need to have serviceability. Most fees and the interest are capitalised. This means you pay it back when you sell. The interest rate will surprise you. Over a 6-month term, the interest works out to be less than a traditional loan and less expensive than using money partners even after interest is calculated.
Some of the upfront fees include a commitment fee, admin fee and valuation fees. The total upfront fees can be as little as $1625 in total for a 600k purchase.
If you are a flipper/renovator or developer, contact us for a quick phone call to understand how we can help you with your chunk deals.
Example 1Jack has renovated several homes. He recently left his job to find another, and his wife is on maternity leave. Jack wants to flip a house while he is still looking for his next job.
They don’t have the serviceability to borrow. They don’t have much equity to redraw, but they do have a bunch of enthusiastic friends who have renovated several homes each. Jack has 50k of his own and will be coordinating all the works. His friends are happy to chip in a total of 300k.
We were able to help Jack with the purchase of a $600,000 property to renovate and flip.
What is equity and how can it be used?
There are many different ways to use equity.
We are helping someone with getting a second mortgage to do renovations and sell in 6 months. 2 young sisters who bought an investment years ago. No serviceability for both of them.
We helped a lovely, retired gentleman use his PPR to use as security to renovate an investment. No serviceability needed.
We are helping a lovely older couple buy a property for subdivision using the equity from his daughter’s IP which he bought for her a few years ago. No serviceability.
We helped a very honest gentleman who got into trouble with over 250k in tax and council debts and could not pay his mortgage which was twice what he was earning to fix his bad credit and allowed him to reset his credit so that he can refinance to a better deal. No serviceability needed and no need to pay anything in 6 months to give him a reprieve.
When you are a boomer, it is even better. You can do a mortgage with no serviceability to pay for a downsizer, a holiday home, car, renovations on your PPR. NOTHING TO PAY and you will never owe more than the value of your home so you will never be a burden to your children.
It sounds like magic and unreal, but I help people with these every day.
What is a money Partner?
To put simply, money partners usually provide the money for the flip with 10%+pa return while someone else sources the deal and looks after the renovations.
Our flipping clients use money partners all the time to help them pay for things like the deposit, stamps and reno costs. It’s a creative way of sourcing funds and not having to go to banks to get a loan so flippers can do their thing full time.
It’s a great way to be involved and make money but don’t need to get your hands dirty. Also a really good way to make more than what the banks give you in your savings account.
What does it mean by”if the deal stacks up”?
This means the deal will make a profit. The flipper will make sure that the deal stacks up by putting figures into a feasibility calculator, usually in a spreadsheet.
Everyone has their own idea of how much they want to make. Some are happy with 50k per deal, others want to make 10% to 25% per deal.
Welcome to contact us. Happy to answer your questions.
Tips for Flippers.
Buy well to increase profits
- This does not mean not paying the other person a fair price. We are all here to do business but not at the expense of someone else’s pain and therefore our karma to repay them back in the future
- This means having the skills to identify the potential uplift you could bring to the property by choosing the right property and choosing the right location.
Tell your money partner how much or little you are putting into your deal. Guarantor means any other assets you have are open to be recoverable for the debt plus outstanding interest you owe..
- Make sure you get your numbers right first so you don’t have difficulties later.
- Lenders will allow you some time to refinance but it will cost you the penalty interest.
How to ensure your money partner funds arrives on time for the flip
- Send a small amount to your money partner well before your big transfer. The first transfer always takes time.
- Copy and paste the bank accounts. People have made mistakes in putting in the wrong account. Great if the account doesn’t exist and it bounces back. If the bank account does exist but belongs to someone else, what might they do with that money?? Banks will not take liability for your mistake.
Tips for a higher borrowing capacity and building a portfolio.
Rent vesting
You get income from investing, even if you share a house and get rent from friends while you live there, banks don’t limit what that income is.