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  • Lenders offer FHBs helping hand Formula 1 Finance
    Security Guarantee Loans in recent months removing certain restrictions for guarantors to include extended family members The changes now mean a guarantor will no longer have to be a parent sibling or spouse of the borrower for a security guarantee formerly known as a Family Guarantee This change in policy is going to help certain first home buyers with healthy incomes but limited savings enter the property market with help from guarantees who traditionally haven t been allowed to put their support behind a low deposit holder s mortgage Most Guarantee loans are a single loan secured by both properties the property purchased by the first home buyer and guarantors property The benefit of this option is that there is no requirement to make a Lenders Mortgage Insurance payment and that you don t have to demonstrate that a deposit you have was genuinely saved 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 January 24 2013 Financial goals First Home Buyer 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 rate Rental Growth Stamp Duty Technology Wealth January 2014 M T W T F S S Dec 1 2 3 4 5 6

    Original URL path: http://www.formula1finance.com.au/financial-goals/lenders-offer-fhbs-helping-hand/ (2014-01-04)
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  • Credit Rating Uncovered Formula 1 Finance
    years where you may have previously been overdue or missed payments on credit cards or loans This comprehensive credit reporting is expected to significantly improve a lenders ability to predict and prevent credit defaults and make it easier for loan applicants with a favourable credit history to obtain finance As your mortgage broker the additional credit information will give us a better understanding of each of our clients helping us to put you in the right loan first time every time Obtaining a copy of your credit report If you ve ever applied for a credit or loan there will be a report on you with a credit reporting agency You should check your credit report every year to make sure there are no mistakes that could affect your rating Under our existing laws you have the right to find out what s in your credit report and correct any wrong information It won t cost you anything to obtain a copy provided you aren t in a hurry there may be a charge if you need to obtain a copy in less than 10 days You could have a credit report with more than one reporting agency The two main credit reporting agencies in Australia are Veda Advantage and Dun Bradstreet If you live in Tasmania check with the Tasmanian Collection Agency Australia s credit reporting system is being modernised Here s how it will benefit you Organisations have an obligation to show evidence to justify disputed credit listings It will be easier to access and if necessary correct your credit report Credit reporting information cannot be collected about children The complaints process will be simplified complaints can be made directly to the Privacy Commissioner first rather than the organisation Brett Colley 365 Posts Brett has been involved in

    Original URL path: http://www.formula1finance.com.au/finance-news/credit-rating-uncovered/ (2014-01-04)
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  • Going Green « Formula 1 Finance Formula 1 Finance
    the time The Nationwide House Energy Rating Scheme NatHERS assesses the potential thermal comfort of homes on a scale of 1 to 10 stars Well designed homes are now being built above six stars compared to an average of one star for homes that were built twenty years ago When you sell your home you want it to be able to compete with these newer more energy and water efficient homes Green loans The Green Loan Scheme was set up by the Australian Government to encourage households to install products that would help tackle climate change and reduce greenhouse gas emissions A free sustainability assessment was offered as well as interest free green loans and while this scheme has now finished some lenders continue to offer similar style home loans give us a call if you want to know more about this These green or energy efficient mortgages offer a discount or a bigger loan than normally permitted for home owners that make energy efficient improvements or buy a high energy efficient star rated home Greening your home Adding environmentally friendly features like the following will lower your bills and make sure the investment in your home holds its value over time Ceiling insulation Draught proofing of external windows and doors Efficient hot water unit solar gas or heat pump in place of electric unit Rainwater tank and or grey water recycling system Solar panels Native garden Drip irrigation system Blinds and awnings Energy efficient appliances A great free resource is the www nabers gov au website where you can self assess your home s energy efficiency and receive a customised energy action plan 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

    Original URL path: http://www.formula1finance.com.au/house-prices/going-green/ (2014-01-04)
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  • Property taxes send $30bn to government Formula 1 Finance
    with the previous financial year Over the financial year capital city home values fell by 1 4 per cent and transaction volumes for homes were 20 per cent lower than over the previous year Considering that since the end of the 2010 11 financial year property values and transaction volumes have continued to fall I would expect that in order to grow tax revenue state and local governments may be looking to again increase land tax and municipal rates as there is likely to be limited if any growth in stamp duty revenue Property tax is clearly one of the most important sources of revenue for state and local governments and as a result it is likely that these governments will look to make adjustments to grow revenue Most notably we already know that rates have increased over the year and some changes have been made to land tax calculations With the soft market conditions over the financial year to date I expect that state and local governments will begin to look for other ways to compensate the falls in property related taxes Potentially this means higher rates of stamp duty or charging a greater amount of land tax municipal rates 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 20 2012 Budget Enconomy Financial goals Government banking reform House prices 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

    Original URL path: http://www.formula1finance.com.au/house-prices/property-taxes-send-30bn-to-government/ (2014-01-04)
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  • 2011 housing down by almost 10pc Formula 1 Finance
    down by 7 7 per cent when compared to the year before Meanwhile the value of major alterations and additions work done which accounts for around 20 per cent of total renovations activity fell by 2 1 per cent over the quarter The overall value of work done in total over the 2011 calendar year was down by almost 10 per cent Things are just getting worse for both new housing and major alterations and additions activity In the December 2011 quarter seasonally adjusted residential building work done fell for a third consecutive period declining by 1 8 per cent to an annualised level of 44 5 billion The situation is very clear interest rates are too high the short term focus on a return to budget surplus badly timed and housing policy reform 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 19 2012 Budget Enconomy Finance News Government banking reform House prices Inflation Interest rate 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 rate Rental Growth Stamp Duty Technology Wealth January 2014 M T W T F S S Dec 1 2 3 4 5 6 7 8 9 10

    Original URL path: http://www.formula1finance.com.au/finance-news/2011-housing-down-by-almost-10pc/ (2014-01-04)
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  • Housing shortage continues Formula 1 Finance
    in 2011 has been all but sealed by higher interest rates continuing tight credit conditions and a complete lack of progress on policy reform to reduce excessive new housing costs Housing starts have only increased in two of the last ten years This fact delivers a very poor scorecard on new home and rental market affordability which especially hurts aspiring first home buyers and lower income households The housing supply crisis is upon us now and without proper leadership from the federal government it is only going to escalate I believe it was now up to the federal government to not impose any new taxes that have an impact on the cost of new housing However that may fall on deaf ears somehow I think the government should be assisting states to remove stamp duties on new homes and removing planning and development bottlenecks 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 4 2011 Enconomy Financial goals Government banking reform Inflation Interest rate Wealth Leave a comment 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 rate Rental Growth Stamp Duty Technology Wealth January 2014 M T W T F S S Dec 1

    Original URL path: http://www.formula1finance.com.au/interest-rate/housing-shortage-continues/ (2014-01-04)
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  • New home sales still slow Formula 1 Finance
    was for a weaker result than what we saw for January Nevertheless new home sales are running at volumes considerably below those experienced during the stimulus driven run of 2009 and early 2010 while both local government building approvals and new housing loan approvals are trending down once more At the very time when new home conditions need to be continually improving we are faced with compelling evidence of a considerably weaker 2011 compared to last year Interest rates are on hold for now and that is a tick in the box for the housing industry but an upward bias to rates remains in play The onus is on Federal and state governments to reinvigorate the policy reform process to reduce the excessive costs of new housing 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 30 2011 Enconomy Financial goals Government banking reform House prices Inflation Interest rate Wealth Leave a comment 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 rate Rental Growth Stamp Duty Technology Wealth January 2014 M T W T F S S Dec 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

    Original URL path: http://www.formula1finance.com.au/house-prices/new-home-sales-still-slow/ (2014-01-04)
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  • Majors slam proposed govt reforms Formula 1 Finance
    us at Westpac smaller players would struggle to remain competitive A statement that I agree with and it seems the vast majority of those in the industry agree with Ms Kelly s sentiments Exit fees were essential to the competitiveness of smaller lenders and non bank players If the government truly wanted to introduce competition back into the mortgage space they would make Lender s Mortgage Insurance portable I also believe the government needs to abolish stamp duty and the property market would recover quickly The big area where an opportunity was lost was in Lender s Mortgage Insurance Currently those borrowers that take out Lender s Mortgage Insurance often have to pay the fee again when they refinance with another lender This is a huge deterrent to borrowers switching lenders but it is a deterrent that doesn t necessarily have to be in place after all it is an insurance policy to protect the lender so why shouldn t it be transferrable 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 8 2011 Enconomy Government banking reform Interest rate Leave a comment 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 rate Rental Growth

    Original URL path: http://www.formula1finance.com.au/interest-rate/majors-slam-proposed-govt-reforms/ (2014-01-04)
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