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  • Westpac chasing larger market share Formula 1 Finance
    the mortgage insrance to a toal LVR of 97 The major s announcement comes just one day after CBA said it would increase its maximum LVR lending to 95 per cent for all new customers Last month Westpac announced rate cuts of up to 80 basis points off one of its products But while competition between the majors is heating up there may not be enough borrowers to warrant the current mortgage war While it is clear that there are lot of players out there lending aggressively the question is is there going to be the demand from the consumer side I have found that that housing stock is down and consumers are not necessarily out there looking for mortgages at the moment All mortgage brokers and lenders are saying their volumes are down This is good news for anyone looking for a home or investement loan 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 2011 Financial goals Home loan product 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

    Original URL path: http://www.formula1finance.com.au/interest-rate/westpac-chasing-larger-market-share/ (2014-01-04)
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  • ANZ hike interest rates Formula 1 Finance
    above the RBA s 25 basis point cash rate hike but just shy of CBA s 0 45 per cent rate increase The bank s variable interest rate has now risen to 7 8 per cent The Australian banks know they have the market share which is shown in their arrogance towards its customers The scrapping of exit fees is worth very little to the consumers as the bank will make much more from the additional interest charges With ANZ now making the decision to move on rates the industry now waits with baited breath to see what both NAB and Westpac will do There are plenty of indications to suggest NAB will be the next to move My guess is both the NAB and Westpac will increase their rates so the big four have the a very similar variable 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 November 11 2010 Finance News 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

    Original URL path: http://www.formula1finance.com.au/finance-news/anz-hike-interest-rates/ (2014-01-04)
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  • Low Doc Loans Formula 1 Finance
    accountant s letter in support of their income declaration rather than the current 12 months BAS statements that are usually required another strong indication that low doc lending is alive and well in the Australian market In addition the non bank lender is also re launching its popular Specialist Lending LoDoc product which allows for a maximum LVR of 85 per cent includes the purpose of refinance and permits unlimited cash out to 65 per cent LVR and up to 25 per cent cash out to 80 per cent LVR with substantiation It appears that with the increase in home loan interest rates the with the margins returning the non bank lenders are trying to regain some lost market share Resimac s latest product change follows a spate of recent low doc product enhancements by other wholesale lenders Last month both Advantedge and Adelaide Bank announced changes to their low doc product policies 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 October 19 2010 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

    Original URL path: http://www.formula1finance.com.au/interest-rate/low-doc-loans-making-a-comeback/ (2014-01-04)
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  • The Big 4 Banks still dominate « Formula 1 Finance Formula 1 Finance
    the big four account for over 85 per cent of all mortgages Westpac continues to edge out CBA with the majors recording a market share of 27 34 per cent and 25 54 per cent respectively ANZ has the smallest market share of the big four accounting for just 15 11 per cent However NAB is not far in front with a market share of 15 23 per cent Similarly credit union and building society housing loans outstanding also grew by 10 per cent to 50 billion for the year Mortgage managers building societies and credit unions are struggling to compete with their high cost of funds When the next interest rate rise comes I suspect you will see the banks being more competitive to maintain their market share 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 2 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 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 22 23 24

    Original URL path: http://www.formula1finance.com.au/finance-news/the-big-4-banks-still-dominate/ (2014-01-04)
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  • ANZ boosts home loan market share « Formula 1 Finance Formula 1 Finance
    1 54 billion While Westpac and CBA still accounted for more than 56 per cent of market growth during the month their combined dominance slipped from 70 per cent recorded at the same time last year NAB also enjoyed a strong growth month boosting its home loan lending by 1 31 billion 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 April 6 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 Duty Technology Wealth January 2014 M T W T F S

    Original URL path: http://www.formula1finance.com.au/finance-news/anz-boosts-home-loan-market-share/ (2014-01-04)
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  • RBA Leaves Rate Unchanged Formula 1 Finance
    In Australia growth in domestic demand ran at its fastest for four years in 2011 driven by private spending Nonetheless the balance of recent information suggests that output growth was somewhat below trend over the year There are differences in performance between sectors and considerable structural change is occurring Labour market conditions softened during 2011 though the rate of unemployment has been little changed for some time Interest rates for borrowers remain close to their medium term average Credit growth remains modest Housing prices have shown some signs of stabilising recently after having declined for most of 2011 but generally the housing market remains soft The exchange rate has remained high over recent months even though the terms of trade have declined somewhat In underlying terms inflation was around 2½ per cent in 2011 CPI inflation was higher than that but will fall over the next quarter or two It is currently expected that inflation will be in the 2 3 per cent range over the coming one to two years This forecast abstracts from the effects of the carbon price and also embodies an assumption that productivity growth in the economy increases somewhat as a result of the structural change now occurring At its next meeting the Board will have the opportunity to reassess the outlook for inflation taking into account not only data on demand and output but also forthcoming information on prices The Board eased monetary policy late in 2011 Since then its judgement has been that with growth expected to be close to trend inflation close to target and lending rates close to average the setting of monetary policy was appropriate The Board s view was also that were demand conditions to weaken materially the inflation outlook would provide scope for easier monetary policy At today

    Original URL path: http://www.formula1finance.com.au/interest-rate/rba-leaves-rate-unchanged/ (2014-01-04)
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  • Domestic outlook = Interest rate cut Formula 1 Finance
    and the 2 4 GDP figures suggest that the US economy has entered a significant economic slowdown As a result I was struck by the disparate growth outlook for both countries Clearly the minutes of the latest meeting reveal the RBA ha belatedly moderated its view on the outlook for the domestic economy I believe this more conservative view is consistent with the reality of the two speed economy D espite a strong mining sector which is supported by robust commodity prices and a pipeline of capital expenditure investment the rest of the domestic economy particularly retail sales due to consumer conservation and high savings rates remains very weak I continue to believe the Eastern Seaboard remains in a recession This view is now gaining momentum with a major bank predicting that the RBA s next policy move will be a cut in interest rates Others will come to this view over the next few months 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 August 4 2011 Enconomy Finance News Financial goals 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

    Original URL path: http://www.formula1finance.com.au/finance-news/domestic-outlook-interest-rate-cut/ (2014-01-04)
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  • RBA SOFTENS ITS OUTLOOK Formula 1 Finance
    The supply chain disruptions from the Japanese earthquake and the dampening effects of high commodity prices on income and spending in major countries have both contributed to the slowing The banking and sovereign debt problems in Europe have also added to uncertainty and volatility in financial markets over recent months The key question is whether this more moderate pace of growth will continue Commodity prices have generally softened of late though they remain at very high levels Despite the challenging international environment the central scenario for the world economy envisaged by most forecasters remains one of growth at or above average over the next couple of years A number of countries have tightened monetary policy but overall global financial conditions remain accommodative and underlying rates of inflation have tended to move higher This is good news for the average mum and dad borrowers 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 5 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

    Original URL path: http://www.formula1finance.com.au/finance-news/rba-softens-its-outlook/ (2014-01-04)
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