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Hello,
I hate to start on a negative note but no doubt you would have heard about the recent increase in interest rates by the banks over the past few weeks. All bank lenders have increased their variable rates by 0.10% p.a. to 0.20% p.a. Of the majors CBA increased their standard variable by 0.10% p.a., ANZ by 0.20% p.a., NAB by 0.12% p.a., Westpac by 0.15% p.a. and St.George by 0.20% p.a. Lets hope the Reserve Bank is kind in February and doesnt increase rates further!
The recent federal election may have split the nations opinion, but it no doubt brought the topic of economics and finance to the dinner table. Few of us can argue about the prosperous state of the economy and our first article outlines what this means for those of us lucky enough to live, work and do business in Australia.
If you own a home and are looking to save on your mortgage, read on further to find out how you can use speed as your secret weapon. Youll also find an article on the First Home Owners Grant that explains which government benefits are available in your state.
Our final article outlines how our role as your mortgage broker can assist you with a much wider range of finance needs than you might realise.
Enjoy this newsletter and feel free to share it with family and friends.
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PO Box 319
Toongabbie NSW 2146| Tel: | 1300 66 12 11 | | Mob: | 0404 037 663 | | Fax: | 02 8214 6592 |
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A Toast to the Economy
There's no better time to be living, working, investing or building a business in Australia. Despite the rise in interest rates, our economy is arguably at a 15-year high and remains on track for continued strong growth. The recent change in government demonstrates that we feel confident enough about the economy to vote in a new team of economic managers.
There's every reason for this confidence: unemployment is at a 32-year low, the currency is strong, and there has been over a decade of consistent 4% plus economic growth.
Read More >>
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Benefits for First Home Owners
The upfront costs of buying a home for the first time might seem a little daunting, but fortunately there are a number of government benefits that will help you reduce these costs. The First Home Owner Grant is the most well-known of these. Since it was introduced by the Federal Government on 1 July 2000, it has helped make home ownership a more affordable dream for many. The grant entitles first home buyers to a one-off payment of $7,000 which may be available at settlement of your purchase. It is applicable Australia-wide, whether you buy or build, and irrespective of your income or assets provided the property is used as your principal place of residence.
Read More >>
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Start Saving on Your Mortgage
Interested in wiping thousands off your mortgage bill and years off your loan? It's an appealing prospect and the good news is that most of us can achieve these savings simply by looking at ways we can pay off our mortgage sooner.
Early repayments, extra repayments and more frequent repayments are all effective ways of lowering your interest bill and reducing the life of your loan subject to the terms and conditions of your loan.
Read More >>
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Benefiting From A Single Point of Contact
A single point of contact for your borrowing needs creates benefits in terms of time, convenience, choice and trust. The role we can play in meeting your borrowing needs is now being extended to a much wider field than before.
Over recent decades independent mortgage brokers and finance businesses such as ours have changed the face of home loan lending in Australia. Twenty years ago independent mortgage businesses were a factor in only a small proportion of all mortgages arranged. Now they play a part in a growing proportion of the market and this shows that brokers have something real to offer.
Read More >>
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Mortgage & Finance Association of Australia
Mortgage World Australia is a full member of the MFAA. As a member we must adhere to an Industry Code of Practice, which requires professionalism, ethical behaviour, transparency and a commitment to you, the borrower.
This helps to ensure that your best interests are at heart whenever we make a finance recommendation.
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News & Specials
- Bankwest have brought back their Rate Tracker Home Loan which offers a 0.90% p.a. discount off the average standard variable rate of the big 4 banks for the first 3 years of the loan. There is also no early repayment penalty on this loan which means you can refinance after 3 years without being charged a hefty exit fees.
- As of Monday 13th July RAMS are offering a FlexiFix product where up to a maximum of 50% of the loan amount can be fixed for 2 years at 4.99% p.a. rolling over to the Smartway Variable rate after 2 years. Variable portion can only be taken as a Smartway Variable loan which currently offers an interest rate of 5.49% p.a.
- St.George are offering a 0.15% p.a. discount off their fixed rate home loans if taken under their Advantage Package. Westpac are offering a 0.20% p.a. discount off their fixed rates under their Premier Advantage Package.
- Although most lenders are no longer offering cheap low doc interest rates RAMS are still very competitive in this market.
- Go into the draw to win $10,000 in Cold Hard Cash by either booking an appointment with us, using our services to take out a home loan or by referring a friend. Competition ends on 31st July 2009.
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Disclaimer: This newsletter is intended to provide general news and information only. Readers should rely on their own enquiries before making any decisions regarding their own interests. Please do not rely on any part of this newsletter as a substitute for specific legal or financial advice. All material is copyright 2009.
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