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Hello,
It has been a while since weve been able to bring you the good news story that interest rates are heading down. Read our lead article to find out why rates are predicted to be cut and what our economists predict will happen in the coming year.
We also cover another important trend the fall in housing prices. In this increasingly strong buyers market, we look at the issues involved with both buying and selling your home.
Our article, "Steps to Home Ownership", walks you through the process of buying a home from start-to-finish for those just entering the home ownership market.
"Renovating to sell" outlines how renovation can be used as an option for increasing the value of your home and maximising its saleable potential.
Lastly we review the topic of interest-only loans and how they can be useful for a variety of applications.
Enjoy this newsletter and feel free to share it with 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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Rates Heading Down
Interest rates could sink as low as 8 per cent within a year. It's the sort of news that just a few months ago would have been inconceivable, yet now economists believe rates will be cut repeatedly until they are at 2006 levels.
A Reuters survey of 20 financial institutions found virtually all expect the Reserve Bank to make between three and six rate cuts over the next year.
The U-turn on interest rates comes as the domestic economy continues to cool, bringing about a reduction in inflation over time and opening the door for interest rate cuts.
Many experts now say that a big rate cut is needed to kick-start economic activity and avoid a further slowdown.
Read More >>
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Steps To Home Ownership
As Australian house prices start to fall, more people are being encouraged into home ownership. The market conditions make the decision to buy a lot easier - now you just need the right house, at the right price with the right finance. Follow these steps and you should be able to achieve all three!
Read More >>
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Renovating To Sell
Renovating your home can put it ahead of the competition in today's buyers' market. The secret to success is to make sure your renovations are realistic, achievable and ultimately add value. Don't fall into the trap of over-capitalising and ending up with a home that costs substantially more than its market price.
Establish a budget and stick to it
Take the time upfront to work out the costs in detail and you are less likely to run out of cash mid-way through the project. Your budget should take into account labour, materials, council fees, design fees and inspection costs, plus include up to 20 per cent as a contingency fund.
Read More >>
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Paying Interest Only
You may have heard of an interest-only loan and wondered if it is as good as it sounds. As its name suggests, an interest-only loan is a type of loan in which you pay only the interest on the principle balance. This doesn't mean you will never pay the principle, it simply means that for a set term - usually 5, 10 or 15 years - you can make interest-only payments.
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 2009.
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