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  • First home grant doubles, Qld Formula 1 Finance
    of a boost The property and construction sector is one of the four pillars of the Queensland economy and one the Newman Government is supporting through direct action The Master Builders Association has lobbied on behalf of the sector for changes to the grant and the Government has responded in a constructive way The Government s First Home Owner Construction Grant will help more Queenslanders buy their first home and provide a much needed lift to Queensland s property and construction industry One of the biggest challenges faced by the residential building industry is low consumer confidence and we believe the new look grant will offer first home owners a very real incentive to build a new home and address the rising cost divide between new and established housing In addition to the First Home Owners Grant measures hopefully the government will consider a strong capital works program and a review of existing property holdings and commercial business units This boost will be available from 12 September 2012 onwards This is great news that this is a long term measure that will commence immediately Unlike the Building Boost Grant the new First Home Owners Construction Grant commences immediately ensuring there is no short term drop off in demand while those interested in building wait for the grant to be available 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 11 2012 Enconomy Finance News Financial goals First Home Buyer House prices Inflation Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform

    Original URL path: http://www.formula1finance.com.au/finance-news/first-home-grant-doubles-qld/ (2014-01-04)
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  • Westpac Predict 1% Interest rate cut by end of 2012 Formula 1 Finance
    it suggest actual labour market conditions are deteriorating it also points to a material downturn in discretionary spending and is an additional negative for already soft housing markets where job loss concerns inhibit demand Looking ahead steady rates and a reduced threat of rate rises should continue to allay consumer fears of rate hikes But with rising uncertainty around the global economy and growing signs of weakness in local labour markets I suspect that steady rates on their own will not be enough to restore consumer confidence I continue to expect that the next move from the RBA will be rate cuts starting with 25bps in December Westpac is of the same view however they predict a total reduction of 100bps by Sep 2012 Australian consumers are likely to remain badly out of sorts at least until an easing bias is apparent and most probably until actual rate moves are enacted 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 22 2011 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 T

    Original URL path: http://www.formula1finance.com.au/finance-news/westpac-predict-1-interest-rate-cut-by-end-of-2012/ (2014-01-04)
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  • Interest rate rise back on the agenda Formula 1 Finance
    would be crippling The 0 9 per cent rise in the CPI for the June quarter 2011 should be kept in context with other economic indicators In the current CPI figures there are some clear one off impacts such as the price of fruit which has risen almost 30 per cent due to the natural disasters that occurred earlier this year Australia is clearly experiencing the ongoing effects of the cautious consumer Year on year housing approvals are down retail sales are down and it s now well reported that consumers are committed to rebuilding their savings My view is that the unsettling debt crisis overseas has also undoubtedly played on consumer confidence RBA Governor Glenn Stevens indicated that consumers shouldn t be anticipating any interest rate cut from the central bank Keeping rates on hold would be a sensible strategy for the RBA Even though Westpac enconomist Bill Evans indicated if things continue the way they currently are rates could drop as much as 1 I can t see this happening though 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 28 2011 Finance News 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

    Original URL path: http://www.formula1finance.com.au/finance-news/interest-rate-rise-back-on-the-agenda/ (2014-01-04)
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  • Consumers benefit from lender competition Formula 1 Finance
    rates while the Commonwealth Bank of Australia abolished its exit fees for new customers and NAB launched an aggressive switching campaign The constant changes in policy and pricing by Australia s lenders had understandably confused borrowers A savvy professional mortgage broker would be able to guide you through to enable to the best decision to be made There is lots of noise in the market place around fees getting waived and special deals The sentiment that we are getting is that consumers know there are opportunities out there but they are incredibly confused as to which is the best deal for them Consumers don t know where to go they don t know what is the right deal for them This is where brokers come in Formula 1 Finance is a market leader in this area and welcomes any questions 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 8 2011 Finance News 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

    Original URL path: http://www.formula1finance.com.au/finance-news/consumers-benefit-from-lender-competition/ (2014-01-04)
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  • Major Lenders increase loan to value ratio Formula 1 Finance
    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 were limited to 90 per cent LVR while existing customers could borrow up to 95 per cent In the past month CBA St George and ING Direct increased their maximum loan to value ratio to 95 per cent suggesting high LVR lending is back en vogue The major lenders are all increasing their maximum loan to value ratio I believe this is a direct response to growing competition for a smaller number of borrowers Even though the mortgage insurance premiums above 90 LVR are very expensive this is a very good thing for borrowers with smaller deposits 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 February 28 2011 Bank Profits Home loan product 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 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 17 18 19 20 21

    Original URL path: http://www.formula1finance.com.au/interest-rate/major-lenders-increase-loan-to-value-ratio/ (2014-01-04)
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  • CBA cuts investment loan LVRs « Formula 1 Finance Formula 1 Finance
    home loans will be in no way affected by these changes the spokesperson said According to the spokesperson the changes are part of CBA s responsible lending strategy CBA s head of retail banking Ross McEwan told The Herald Sun that the changes followed a comprehensive risk assessment of the bank s 270 billion home loan book The risk assessment showed that these were areas we needed to tighten in terms of credit quality he said We view this as about improving the credit quality of the book rather than an effort to haul in home lending CBA s announcement follows Westpac s decision earlier this year to drop its top LVRs for new home loan business from 97 per cent to 87 per cent A spokesperson for the major told The Adviser back in January that Westpac s decision to reduce its maximum LVR for new customers was consistent with its strategic focus on building stronger relationships with its pre existing customers Source The 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 9 2010 Finance News 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

    Original URL path: http://www.formula1finance.com.au/finance-news/cba-cuts-investment-loan-lvrs/ (2014-01-04)
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  • The Reserve Bank has signalled more home loan interest rate rises are on the way after it yesterday lifted the cash rate to 4 per cent... « Formula 1 Finance Formula 1 Finance
    3 151 86 71 11 500 000 3 502 06 79 01 Announcing the decision RBA governor Glenn Stevens said lending rates were still below average The board judges that with growth likely to be close to trend and inflation close to target over the coming year it is appropriate for interest rates to be closer to average he said in a statement Today s decision is a further step in that process The RBA lifted the official cash rate three times last year in October November and December It did not meet in January and held off raising rates last month but a string of strong Australian economic data convinced the bank to tighten its monetary policy sooner rather than later Housing woes Housing Industry Association senior economist Ben Phillips says dwelling construction could take a hit as rates go up worsening the housing shortage The concern the industry has is that the RBA might be hiking rates a little too hastily Mr Phillips said We d certainly caution against going a little too quickly on the interest rate button over the course of this year If interest rates are hiked too high and too quickly that will spook potential buyers from the market particularly in the first home buyer end of the market who are probably very sensitive to the interest rates On the investor side which is an area where we haven t seen any recovery yet there s also concern that that will also be spooked by higher interest rates Economy improving Treasurer Wayne Swan says while the rate rise will be hard for homeowners with mortgages it is a sign the economy is improving The economy is recovering and rate rises are an inevitable consequence of a recovering economy that is outperforming the rest of the world he said I think it s important to understand that rates are still at 1970s lows Although for someone with a mortgage it s tough stumping up an extra 50 a month But the Opposition s treasury spokesman Joe Hockey says the Government is spending too much money and forcing the Reserve Bank to act The Reserve Bank is increasing interest rates faster and higher than any other comparable country in the world he said Kevin Rudd is responsible for this interest rate increase Kevin Rudd is responsible for the pain Australian families are going to have to go through Consecutive hikes unlikely JP Morgan interest rate strategist Sally Auld says it is unlikely the RBA will approve a string of consecutive rate hikes like it did last year Essentially what they re in the process of doing is just returning rates to long term average levels she said They quite like the concept of a neutral policy setting and they re a little bit away from that where they are at the moment So I think the idea is there will be more rate rises to come over the course of 2010 Fourteen out of 19 economists

    Original URL path: http://www.formula1finance.com.au/finance-news/the-reserve-bank-has-signalled-more-home-loan-interest-rate-rises-are-on-the-way-after-it-yesterday-lifted-the-cash-rate-to-4-per-cent/ (2014-01-04)
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  • Residential Construction Outlook Low rates and stimulus to boost construction « Formula 1 Finance Formula 1 Finance
    of the past year It will follow a particularly weak outcome for residential construction in 2008 9 of 131k new dwellings That is significantly below CBA s estimate of underlying housing demand based on population growth of 185k Population growth is running at 443k or 2 1 pa in annual terms driven by high levels of net migration Population growth driven by net migration is assumed to remain high The after effects of the 50 year low in mortgage rates and the First Home Owner Boost should see new housing construction rebound strongly over the next few years We expect dwelling commencements to be around the 160k level in 2009 10 rising to 184k in 2010 11 First home buyer activity is seen as the initial driver of the pickup in construction activity Since the introduction of the boosted first home buyers grant and cuts to interest rates the number of first home buyers has nearly doubled Rising house prices are rebuilding wealth and supporting consumer confidence and should add to the construction surge as some owners of existing homes decide to build new dwellings Public sector dwelling construction is also rising strongly with funding from the Federal Government State construction activity levels could remain divergent over the next few years Victoria has been performing strongly despite higher mortgage rates NSW construction has been sliding for the past 5 years but should stabilise and rise gradually in 2010 Source Commonwealth Bank Research 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 6 2010 Finance News Leave a comment Leave a Reply

    Original URL path: http://www.formula1finance.com.au/finance-news/residential-construction-outlook-low-rates-and-stimulus-to-boost-construction/ (2014-01-04)
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