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Hello,
Summer has arrived and it is a time when many of us are thinking about installing a pool or extending the family home.
To achieve these goals your options are to sell your current home, and buy elsewhere, or to renovate your existing home. We discuss the pros and cons of each method in this edition. The issue of whether or not to fix your interest rate is also covered given the current speculation on interest rate movements. If you are interested in evaluating your options, we look forward to recommending the most suitable finance available to you.
If you decide to buy a property you may be purchasing via the auction process. This can be a great way to purchase but also a little daunting for those who have not experienced it before. To ensure that you can bid with confidence, please read our tips in this issue and contact us so we can organise your finance prior to auction day.
If you have friends or family members who are buying a property, and may find this newsletter of interest, please forward it to them as we would be happy to assist them with our professional advice.
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PO Box 741
Rozelle NSW 2039| Tel: | 1300 885 559 | | Mob: | 0405 534 344 | | Fax: | 1300 885 559 |
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Renovate or Sell/Buy
If your present home is where you want to be, meaning it is a great neighbourhood, amenities are just right, transport is handy and the family and kids love the school and friends, but you need more room, you have a tough decision to make.
Read More >>
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Minimise Interest Rise Exposure
Variable or fixed: Which is best for you?
For most of this year commentators have been saying there is likely to be another rate rise by Christmas. A few months ago they were predicting this as if it were an absolute certainty. Just recently however many have changed their tone and are now saying that the Reserve Bank may leave interest rates on hold or even drop them.
In the current uncertainty about the future direction of rates, it may be worthwhile for you to review if your existing loan is the best one to minimise your exposure.
Read More >>
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Auctions - The finance musts!
From time to time we are asked how people can make sure that finance will be available if they make a successful bid at an auction.
When the hammer goes down on the final bid at an auction, the offer is final and there is no cooling off period. This contrasts with the situation where you purchase a property 'through the Real Estate Agent's window' because the offer in this type of purchase can be made 'subject to finance' and it also includes a cooling off period (except in WA). In an auction you cannot afford to bid more at than you can borrow. It is good to attend an auction in the security that you know your borrowing limits.
Read More >>
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Sub Prime crisis - Is it likely in Australia?
RBA concludes a low risk of sub prime meltdown in AustraliaThe subject of the sub prime credit crisis in the United States is coming up regularly on the evening news and some television reporters are implying terrible flow-on effects in Australia. Many home owners and property investors are wondering how the sub prime crisis may affect their financial arrangements.
Read More >>
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Mortgage & Finance Association of Australia
Sydney Mortgage Practice is a member of the MFAA, the peak governing industry body. All members are bound by a strict code of ethics to ensure the highest levels of service, integrity and professionalism.
John Kinross is an Accredited Mortgage Consultant of the MFAA. This means that he has proven qualifications, experience and expertise in the mortgage industry.
MFAA number is 10977.
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About Us
Sydney Mortgage Practice has developed relationships with over 30 lending institutions in Australia. Our experience in liaising and negotiating with these wide range of lenders makes the process of securing property finance easy for you. The broad range of lenders on our panel enables us to satisfy (just about) all mortgage scenarios we encounter.
Sydney Mortgage Practice manages the whole process of obtaining funding from a lender on your behalf - from application through to the settlement of your loan.
We are committed to sourcing the most competitive loan from our panel lenders to suit each client's circumstances.
We aim to achieve the highest levels of customer satisfaction and to build long term relationships with our clients.
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Disclaimer: This newsletter is intended to provide general news and information only. Readers should rely on their own enquiries before making any decisions regarding their own interests. Please do not rely on any part of this newsletter as a substitute for specific legal or financial advice. All material is copyright 2007.
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