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  • The Power Of Deposit Bonds « Formula 1 Finance Formula 1 Finance
    is usually around 1 per cent of the deposit price but it s not money for jam as your finances still have to be approved by a lender to ensure you have the funds available to complete the purchase Why use a deposit bond If you have the money to buy property but it s tied up in other investments then a deposit bond will save you the hassle of accessing those funds until you really need them for example You ve just sold your home but the sales funds aren t yet available for the deposit on your next purchase You plan to attend a number of auctions and don t want the hassle of arranging a bank cheque each time You are borrowing 100 of the purchase price of a property using equity in another property and you don t have the cash immediately available to use as a deposit You have your deposit tied up in shares or managed funds and don t want to liquidate immediately You would prefer your deposit to earn interest before settlement You want to buy off the plan and use the time to keep your money earning interest elsewhere How long are they valid for Short term bonds are offered for three and six month periods which are ideal for purchasers buying at auction Long term bonds are issued for periods of twelve through to 48 months for projects that are yet to be built As your mortgage adviser we would be happy to provide you with more detail on deposit bonds and how they might work to your advantage Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of

    Original URL path: http://www.formula1finance.com.au/finance-news/power-deposit-bonds/ (2014-01-04)
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  • Tips for Buying at Auction « Formula 1 Finance Formula 1 Finance
    is worth based on the research you have done of recent sales in the area and the prices of similar properties that are up for sale Set your maximum at an odd number because if two people have the same limit which is more likely to happen on a round number then the first one to get there can buy the property 4 Check your state laws In certain states all bidders are required to be registered a tactic designed to stamp out dummy bidding As the legislation varies from state to state check the laws with your real estate agent or fair trading body 5 Have a solicitor conveyancer go over the sale contract Once the hammer has dropped it is taken that you accept the sale contract in its current form There is no cooling off period when the contract is signed you are committed to buying the property For this reason it pays to have a solicitor conveyancer review the contract and any amendments you wish to make such as the amount of deposit settlement period inclusions need to be agreed by both parties prior to the auction Don t assume fittings fixtures and appliances like the blinds or dishwasher will be included with the house unless they are specifically outlined in the contract 6 Don t scrimp on inspections If you are really serious about this property you should consider having it inspected by a licensed building and pest inspector prior to the auction 7 Be assertive when bidding Bid with confidence because you know that provided you follow the above steps you are as ready as can be Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments

    Original URL path: http://www.formula1finance.com.au/finance-news/tips-for-buying-at-auction/ (2014-01-04)
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  • Negative Gearing for Tax « Formula 1 Finance Formula 1 Finance
    unexpected impacts on your cash flow such as interest rate rises unforeseen repairs in your rental property or a period of vacancy In these situations you need to be in a financially strong enough position to be able to repay the shortfall and continue servicing your home loan You can overcome many of the risks of negative gearing by doing some homework and selecting your investment property with care When you re ready to invest your mortgage adviser can help you find a loan that suits your needs What you can claim on tax As a property investor seeking a tax benefit you should always look for the greatest amount you can claim in expenses on your rental property Keep in mind that the Tax Office takes a close look at rental property claims so it s essential to keep good records of all expenses Expenses for which you may be entitled to an immediate deduction in the income year you incur the expense include advertising for tenants body corporate fees and charges cleaning council rates gardening and lawn mowing insurance building contents public liability interest expenses land tax pest control property agents fees and commissions repairs and maintenance travel undertaken to inspect the property or to collect the rent water charges Expenses that may be claimed over a number of income years borrowing expenses amounts for decline in value of depreciating assets such as carpet furniture and appliances capital works deductions i e certain construction expenditure Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On May 14 2013 Financial goals Home

    Original URL path: http://www.formula1finance.com.au/home-loan-product/negative-gearing-for-tax/ (2014-01-04)
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  • House prices bounce back Formula 1 Finance
    cent over the quarter but are still up by 0 7 per cent over the year Sydney saw an increase of 1 6 per cent in the median house price over the March quarter to 673 681 Two consecutive quarters of record level median house prices have moved Sydney from a recovery period into a solid expansionary phase of house price growth Melbourne was the standout performer in the quarter with house and unit prices rising strongly by 3 6 per cent to 538 922 for houses and 2 6 per cent for units the best performance in Melbourne for three years The national housing market has recorded its best start to a year since the strong market conditions of 2010 Buyer activity is set to increase through the remainder of 2013 driven by growing optimism and record low interest rates that have likely bottomed out However much will depend on the performance of both the national and local economies Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On April 24 2013 Budget Enconomy Finance News Financial goals Home loan product House prices Inflation Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation Interest

    Original URL path: http://www.formula1finance.com.au/finance-news/house-prices-bounce-back/ (2014-01-04)
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  • Self Managed Super: a growing trend « Formula 1 Finance Formula 1 Finance
    a SMSF is that is puts you in the driving seat and allows you to do something pro active about your financial future As the trustee of the fund within the boundaries of the law you have the flexibility to decide how your funds are invested and how the fund is to operate Unlike the ups and downs of the share market property investment provides the security of yielding positive returns for investors especially if it is a long term investment Better tax management is another attraction as investing in an SMSF has numerous tax advantages There is also the ability to pool funds with up to four members which means family members can pool their savings to buy a property that would otherwise be beyond their reach Data from the Australian Taxation Office shows that more than 3 000 SMSFs are set up every month and that the sector is growing at a rate of 10 a year In the four years to 30 June 2012 the SMSF sector grew by 109 billion which makes it the strongest growing sector of the superannuation industry The statistics show that SMSFs have truly positioned themselves as one of the most popular forms of superannuation savings If you are tempted to join this growing trend speak to us today about how we can help you set up your own SMSF View Other Articles In March Newsletter Buyers Make A Comeback The Right Time Financial Management Theory Practice Your Trusted Adviser Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On March 1 2013 Finance News

    Original URL path: http://www.formula1finance.com.au/finance-news/self-managed-super-a-growing-trend/ (2014-01-04)
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  • Fix or not? Formula 1 Finance
    tight budget because it allows you to know exactly how much each repayment will be On the downside many fixed loans charge for extra repayments and early payout break fees Seek advice before you sign the contract on how the break fees are calculated in case you have to sell or refinance within the set term The more rates fall the higher the break cost because the re financer has to compensate themselves for the loss of re lending the money at a lower rate The ups and downs of variables Variable loans have more features and greater flexibility than fixed loans but as the rate fluctuates according to various market conditions they can be risky if you ve overcapitalised on your loan If your variable rate falls you may be making lower repayments than if you had fixed your rate but if the variable rate rises your monthly repayments increase When choosing a variable it s important to plan for the possibility of rate rises and be able to adjust your budget accordingly Other options Split rate and capped loans are hybrids between fixed and variable loans Split rate loans allow you to divide your loan between fixed and variable interest rates which gives you a foot in both camps Capped loans are often offered as honeymoon or introductory loans and under this type of loan the interest rate is fixed for the capped period During this period the interest rate cannot go higher but it may go lower if the lender s standard variable interest rate falls below the capped rate Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1

    Original URL path: http://www.formula1finance.com.au/finance-news/fix-or-not-2/ (2014-01-04)
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  • Buying cheaper than renting: RP Data Formula 1 Finance
    across the state In Tasmania there are 34 areas 16 are within Greater Hobart while the remainder are in the regional areas The ACT recorded just one suburb located in Canberra Western Australia has 48 places where mortgage repayments are lower than rental costs eight of these are in Perth with the remainder mostly located in the state s resource driven areas Finally the Northern Territory is now showing 18 suburbs seven are in Darwin up from two in the November report while the remaining 11 are in the regional areas According to RP Data s national research director Tim Lawless the Australian housing market experienced one of its toughest years ever during 2011 and throughout much of 2012 Capital city home values fell by 3 8 per cent throughout 2011 and have followed it up with a further 0 1 per cent fall over the first 11 months of 2012 If the weakness persists throughout December it will be the first time in a long time that capital city home values have fallen over successive years indicating very different market conditions to those which most home owners have become accustomed to With capital city dwelling values 5 5 per cent lower than when they peaked and discounted variable mortgage rates 150 basis points below their 2011 peak coupled with fixed mortgage rates 225 basis points lower we may see consumers returning to the property market as they realise that residential property may not cost them that much more to own than rent In some suburbs it may actually be cheaper than renting especially where we are seeing evidence of tight rental markets resulting in rental increases and lower home values For many buyers now may be a good time to either re enter the market or buy their first

    Original URL path: http://www.formula1finance.com.au/finance-news/buying-cheaper-than-renting-rp-data/ (2014-01-04)
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  • Fixed rate cycle tipped to turn Formula 1 Finance
    about as low as they are going to go In addition to that some of the fixed rates on the market are 30 to 40 basis points below the average standard variable rates offered by Australia s banks which means even if the cash rate falls again forcing variable rates lower there is still quite a buffer I think now is the time to fix part or all of the mortgage Fixed rates are really competitive and customers need to take advantage of them In the last week alone 16 of Australia s lenders cut their fixed rates by an average of 13 basis points Many 3yr fixed rates are below 6 pa Sinking global interest rates triggered by continuing worries about the outlook for the world s economy have lowered the costs Australian banks pay for fixed rate loans But while Australia s lenders continue to cut the interest on their fixed rate products recent data shows the popularity of this type of loan is waning Enquiries for fixed interest rate mortgages have flat lined since the Reserve Bank of Australia lowered the official cash rate to 3 5 per cent Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On July 25 2012 Enconomy Finance News Financial goals Home loan product House prices Interest rate Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New

    Original URL path: http://www.formula1finance.com.au/finance-news/fixed-rate-cycle-tipped-to-turn/ (2014-01-04)
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