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Hello,
If ever there was such potential for the property market, its now! With falling interest rates, generous first home owner grants, deposit saver incentives, strong demand coming off the back of a general decline in property values, conditions appear stacked in favour of the buyer.
We begin our newsletter with details of the $14,000 upfront injection the Federal Government has made into the First Home Buyers market. When combined with existing state government grants, it marks a significant increase to a deposit for a first home.
The First Home Buyer Boost is part of a broader economic stimulus strategy, which we cover in the articles 'Spreading Economic Cheer and 'Non Banks Funding Boost.
We follow this up with an article on the pressures of lending money to family and how to protect yourself emotionally and financially.
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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Home Buyers Come First
Starting the New Year in a new home has become a happy reality for many Australians, thanks to the Federal Government's First Home Buyer Boost.
Effective from October 2008, the First Home Owner Grant has now been doubled to $14,000 for first home owners who purchase an established home. For those who build a new home or buy a newly constructed home, there has been a tripling of the existing grant, taking it to a whopping $21,000.
Read More >>
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Spreading Economic Cheer
If a strong economy was on your Christmas wish list, let's hope the recent Federal Government's economic stimulus package does its work.
Designed to provide practical support for pensioners, families and first home buyers, the $10.4 billion package is also expected to boost growth in the domestic economy.
Read More >>
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Non-Banks Funding Boost
A recent government injection of $8 billion into the mortgage market has strengthened the position of non-bank lenders.
For you and I this means improved competition and the promise of more choice in home loan rates and products.
Read More >>
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For Love or Money
Steve Willey had run his own cafe for a number of years when he started having trouble paying the bills.
He asked his parents, Jan and Michael, to sign a mortgage over their family home to provide him with a bank overdraft. Within a year Steve's business had gone under and the bank sold the parent's home to recoup their investment.
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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