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  • Home loan Interest rates to fall Formula 1 Finance
    The RBA wouldn t be looking beyond one more just yet but the case for at least one cut this year and sooner rather than later is strong If the iron ore price can hold back above 100 a tonne the RBA might well sit on a 3 25 pa cash 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 Finance to be an innovative professional finance broking firm On September 28 2012 Enconomy Finance News Financial goals House prices Inflation 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 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

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  • Refinancing Mistakes to Avoid Formula 1 Finance
    your mortgage broker to know how the criteria varies among different lenders and which lender you will have most success applying to Mistake 3 Not thinking ahead When shopping for a new loan you re probably looking for one that will suit your needs now but what about a few years down the track If you move house or take a career break to raise a family the loan you choose needs to accommodate these life changes Mistake 4 Failure to lock it in If you fail to lock in the new favourable rate of interest on your new loan it may increase by the time your loan gets processed If you wish to lock in a rate we can offer that facility Mistake 5 Not taking costs into account Sometimes the savings you could make by switching loans are outweighed by the expense involved Make sure you know what up front fees you will be charged and conduct a thorough cost benefit analysis before you go ahead Let us know if you need us to do this for you Mistake 6 Poor paperwork Not supplying all the supporting documents when putting in your application can send it back down the bottom of the pile and the waiting game will start over again It s equally important when your loan is approved to review the documents properly before signing for a clear idea of the terms and conditions As your mortgage broker we are experts at guiding borrowers through the paper chase and explaining what s in the fine print Give us a call anytime about helping you successfully navigate the refinancing process 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/refinancing-mistakes-to-avoid/ (2014-01-04)
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  • home loan Archives « Page 3 of 12 « Formula 1 Finance Formula 1 Finance
    on that outlook such as the capex expectations has highlighted the challenge from the mining boom remains The reserve bank would be extremely brave to raise interest rates Read more Back to Top Consumers benefit from lender competition On April 8 2011 Finance News Leave a comment In the last few weeks Australia s lenders have slashed rates increased maximum LVRs and in many cases abolished exit fees ING DIRECT Westpac and ANZ all slashed their fixed rates while the Commonwealth Bank of Australia abolished its exit fees for new customers and NAB launched an Read more Back to Top Housing shortage continues On April 4 2011 Enconomy Financial goals Government banking reform Inflation Interest rate Wealth Leave a comment Economists are calling on the federal government to resolve the growing housing shortage problem The housing starts are expected to drop by 15 per cent in 2011 wiping out a majority of the short lived stimulus driven gains of last year The fate of residential building in 2011 Read more Back to Top Buyer confidence drops but still a good time to buy On March 31 2011 Enconomy Financial goals Inflation Wealth Leave a comment Home buyer confidence has dipped 1 5 per cent since September 2010 according to the Genworth Home buyer Confidence Index This fall despite Australia s relatively strong economic performance was driven by the decreased confidence in the natural disaster affected regions of Queensland and Western Australia coupled with growing Read more Back to Top New home sales still slow On March 30 2011 Enconomy Financial goals Government banking reform House prices Inflation Interest rate Wealth Leave a comment New home sales in February 2011 failed to materially improve on an encouraging start to the year seen in the thin trading month of January The risk was for a weaker result than what we saw for January Nevertheless new home sales are running at volumes considerably Read more Back to Top Lenders battle over fixed interest rates On March 15 2011 Enconomy Home loan product Inflation Interest rate Leave a comment Competition amongst the banks is heating up in the fixed rate arena with ANZ the latest to announce changes to its two year fixed loans Last week ANZ became the third lender in as many days to slash its rates cutting its two year fixed rate by Read more Back to Top NAB predict interest rates to hold On March 10 2011 Enconomy Inflation Interest rate Wealth Leave a comment National Australia Bank has revised its rate forecast for 2011 pushing the first rate rise for the year back to August The NAB forecast on rate rises has been delayed from May to August with the final adjustment to 5 25 per cent in November The risk of an Read more Back to Top Westpac cuts fixed interest rates On March 9 2011 Home loan product Interest rate Wealth Leave a comment The war between Australia s major lenders shows no signs of abating with

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  • home loan Archives « Page 4 of 12 « Formula 1 Finance Formula 1 Finance
    sales increased by 2 2 per cent while the sale of multi units rose by 5 per cent The modest increase in new home sales in January is encouraging New homes were smashed in Read more Back to Top Westpac chasing larger market share On March 1 2011 Financial goals Home loan product Interest rate Wealth Leave a comment is gearing up to capture new business by increasing its maximum LVR lending Yesterday the major announced it would up the maximum amount it lends to new home loan customers from 90 per cent to 95 per cent LVR plus capitalizing the mortgage insrance to a Read more Back to Top Major Lenders increase loan to value ratio On February 28 2011 Bank Profits Home loan product Interest rate Leave a comment The Commonwealth Bank has become the latest in a long line of lenders to increase its maximum LVR Over the weekend the major announced it would allow all new mortgage customers to borrow up to 95 per cent of the value of a property Previously new customers Read more Back to Top Refinance to a better deal now could be the time On February 25 2011 Financial goals Interest rate Wealth Leave a comment all the Home Loan Lenders now starting to fight between themselves to increase market share and as a Specialist Mortgage Broker I have been able to negotiate some amazing deals for clients recently that are not advertised by any of them So if you are considering reviewing your Read more Back to Top 5 Steps to make 2011 Prosperous On January 18 2011 Budget Financial goals Wealth Leave a comment simple steps could help you make 2011 very prosperous Step one is to get control of your cash The best way to do this is with a budget This will show how much you earn and how much you can afford to spend For more information Read more Back to Top A good year ahead for property investors On January 17 2011 Enconomy House prices Inflation Interest rate Leave a comment should be a strong year for the property market new research has found First National Real Estate polled its 450 agents and found that the vast majority expect 2011 to be a turn around year for property particularly as investor and first home buying activity return to Read more Back to Top Home loan interest rates on hold On December 20 2010 Interest rate Leave a comment suspect home loan interest rates will not go up until at least April 2011 The minutes of the latest Reserve Bank Board meeting are expected to reinforce the message that interest rates will remain on hold for several months I remain of the view that the Read more Back to Top Will interest rates hit 9 5 pa On November 26 2010 Finance News Leave a comment said rates would hit 10 per cent and nobody ever thought they would get that high again While they never

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  • home loan Archives « Page 5 of 12 « Formula 1 Finance Formula 1 Finance
    of Read more Back to Top Property prices expected to surge On October 7 2010 House prices Interest rate Leave a comment available suggests properties in the 500 000 to 700 000 range are expected to face the biggest price hike This is good news for these property owners as this price bracket and above has taken a beating over the last 12 months Not such great news if you Read more Back to Top Fixed rate mortgage demand On October 5 2010 Interest rate Leave a comment repayments I have seen over the last couple of months a growing demand for this loan type and I d say this will continue as we head into an environment of rising variable rates I do find it interesting that it s taken so long for this trend to Read more Back to Top Interest rate hike for October November On September 28 2010 Interest rate Leave a comment way was explicit it was likely that higher interest rates would be required The RBA is clearly driven by its assessment of Asia rather than the need for a more vibrant G7 As a mortgage broker my previous view was that a total increase of 75bps could be expected through 2011 Read more Back to Top Interest rates to rise earlier On September 21 2010 Interest rate Leave a comment leave rates on hold last quarter governor Glenn Stevens has hinted that rates will go up sooner rather than later It appears the global economy will record reasonable growth over the coming year though not as strong as the past year Of course that forecast could Read more Back to Top Home loan rate hike 50 chance by Decemeber On September 13 2010 Finance News Leave a comment We now find that the

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  • home loan Archives « Page 10 of 12 « Formula 1 Finance Formula 1 Finance
    dropped the interest rate on its basic variable home loan by 22 basis points to 6 27 per cent and cut the rate on its introductory variable mortgage by 45 basis points to 5 94 per cent The introductory variable home loan rate applies for only one Read more Back to Top Real estate group records 20pc growth On March 19 2010 Finance News Leave a comment four home loan interest rate rises in five Reserve Bank board meetings the property market continues to post strong results with Ray White recording a 20 per cent boost in sales during February The real estate group achieved total commercial and residential sales of 2 310 billion Read more Back to Top Home Loan Rates rise as economy moves to gradual recovery RBA On March 17 2010 Finance News Leave a comment Reserve Bank lifted the official cash rate in March in a bid to move gradually toward normal levels minutes of the meeting released yesterday revealed In October 2009 the RBA board members had decided to implement a process of moving the level of home loan interest Read more Back to Top RBA data still points to May home loan rate hike On March 15 2010 Finance News Leave a comment This week s data releases have painted an interesting picture for the near term outlook for monetary policy We still expect the RBA to raise the cash rate by 25bp s in May but there are historical precedents to show that the Bank may be a little unnerved by Read more Back to Top Home Loan borrowers feel pain of rate rises On March 11 2010 Finance News Leave a comment seems that the four rate rises in six months are starting to have an impact on potential home buyers Data from the Australian Bureau of Statistics ABS showed home loan approvals dropped in January the fourth consecutive decline Home loan approvals plummeted by 7 9 per cent Read more Back to Top CBA cuts investment loan LVRs On March 9 2010 Finance News Leave a comment for CBA told The Adviser that the tighter standards which will take effect from Saturday 20 March will only affect new investment loans Owner occupied home loans will be in no way affected by these changes the spokesperson said According to the spokesperson the changes are Read more Back to Top Australia ranked 4th in property price growth On March 8 2010 Finance News Leave a comment Ten countries have recorded two negative years The biggest price decline took place in Latvia down 50 2 per cent last year after a fall of 36 9 per cent in 2008 But while house price growth continues to be bullish heading into 2010 some economists are worried Read more Back to Top Property activity surges supply plummets On March 4 2010 Finance News Leave a comment in results in Victoria last month According to the real estate group statewide sales figures for February totalled in excess

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  • home loan Archives « Page 12 of 12 « Formula 1 Finance Formula 1 Finance
    victory Mr Richardson said many consumers had lost faith in the majors over the last few months and so they would be looking to slash interest rates in order to rebuild borrower confidence But it s important to act first Mr Read more Back to Top Smaller home lenders take off On January 27 2010 Finance News Leave a comment The move suggests there has been a further thawing in funding markets particularly for issues of mortgage backed securities raising hopes that competition is returning slowly as the big banks tighten their grip on lending Liberty Financial previously regarded as a specialist lender to borrowers that found it Read more Back to Top Rams Reduce Maximum Lending Ratio On January 19 2010 Finance News Leave a comment has followed Westpac Bank in reducing its maximum loan to value ratio LVR to 85 of the security properties value Interesting to note Rams is owned by Westpac I wonder how long until St George follow as it is also owned by Westpac Tough times ahead for Read more Back to Top Westpac increases fixed rates On January 13 2010 Finance News Leave a comment Financial Review yesterday that the new liquidity rules could have serious unintended consequences on funding availability ANZ treasurer Rick Moscati agreed and said that under APRA s current proposals lending growth may have to slow and the cost of funding lending would increase significantly Since April last Read more Back to Top Banks warn of higher funding costs On January 12 2010 Finance News Leave a comment 140 billion of funding requirements Under the new regulations imposed by the Australian Prudential Regulation Authority APRA the banks would be forced to have a certain amount of liquidity available to them ANZ treasurer Rick Moscati said that under APRA s

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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

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