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Hello,
With so much talk of a recession you might think thered be no good news stories to report, but surprisingly the Australian economy and property market are not all cause for despair.
In fact our economy is in better shape than most others in the developed world and there is hope the global crisis wont have the same bite here. That we havent gone down the path of our American counterparts has been largely thanks to Australias conservative lending standards, which - as our article 2 outlines - have just become even tougher.
On page three we look at the housing market and the growing opportunities it offers to both first home buyers and investors.
Our last article is a reminder of tax time approaching - have your receipts ready!
Enjoy this newsletter and feel free to pass it on to family and friends.
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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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Economy Scores Top Marks
It's not just swimming and cricket that Australia does well at, it seems our economy scores top marks against the rest of the world.
According to the Reserve Bank, the Australian economy is in "better shape than most" and "will remain one of the better performing economies in the developed world".
Read More >>
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Lending Criteria Tightened
Last year you could take out a home loan without so much as a deposit. This year you need money in the bank and a good credit history at your disposal.
The financial crisis has seen mortgages with Loan-to-Valuation Ratios (LVRs) of 100 per cent withdrawn by banks and building societies across the developed world, with Australia more recently following suit.
Read More >>
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Housing Market Grows
If there's a good news story to come out of the gloom of a recession, it's that Australia's property market may no longer be under the hammer.
Record low interest rates and the First Home buyers boost have done their job in re-energising the market, with strong signs that people are once again confident about buying property.
Read More >>
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Tax Time
With June 30 fast approaching, it pays to start getting your paperwork in order for tax time.
You might dread the prospect of sorting through old bank statements and boxes full of receipts but if you can achieve a decent tax refund then it is time well spent!
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 2010.
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