Browse Posts “Media Articles”.
(Australian Broker)
The global credit crisis has had at least one positive spin-off. According to X Inc Finance Brokers, the crisis is driving expatriate Australians home, pushing up interest in property markets nationwide. Loan Market Group CEO Jennifer Nielsen said inquiries for expat home loans had escalated in recent weeks.
"There is strong interest from expatriate Australians, many of them banking and finance professionals, who are looking to return home to escape the credit crunch in places like London and Singapore", Nielsen said."They want to buy property before they come back."
Nielsen expects interest from expats to increase due to the reduction ...
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Categories: Home Loans and Mortgages, Interest Rates, Media Articles, News.
(The Australian)
Bank of Queensland has cut interest rates on its small to medium sized business loans by 0.50 per cent.
"We are keeping a close watch on the volatile international credit markets, with an eye to passing on further relief to both business and retail customers where our overall funding cost permits,'' group executive of business financial services David Marshall said.
The changes are effective from October 29, when the bank will will reduce rates on its business term loans and business lines of credit by 050 per cent and on its business overdrafts and debtor finance by 0.40 ...
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Categories: Banking and Finance, Interest Rates, Media Articles, News.
(AAP)
Expat Australians are poised to set off a fresh wave of buying in property markets nationwide in their bid to flee the global financial crisis, says Australia's leading independent mortgage broker. Jennifer Nielsen, Chief Executive of Loan Market Group, which includes X Inc Finance, said inquiries for home loans from expats had escalated in recent weeks.
Jennifer Nielsen, Chief Executive of Loan Market Group, which includes , said inquiries for from expats had escalated in recent weeks."There is strong interest from expatriate Australians, many of them banking and finance professionals, who are looking to ...
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Categories: Media Articles, Mortgage Brokers, News.
First Home Buyers who buy newly constructed homes will receive an extra boost as their first home buyers grant will triple to $21,000 while first home buyers purchasing existing properties will see their grant double to $14,000.
The move is part of the Rudd government's economic package aimed at kickstarting the economy.
Under the package, the federal government will invest $1.5 in the housing market between September 2008 and October 2009.
The Economic Security Strategy comes just two days after the Federal government announced that it would guarantee savings deposits and bank wholesale borrowings amid fears of a worsening global financial crisis.
"The ...
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Categories: Banking and Finance, Media Articles, Mortgage Tips, News, Real Estate.
In a move that surprised everyone, the Reserve Bank cut interest rates by a massive 1 per cent, making the official cash rate 6 per cent.
The rate cut came as conditions in international financial markets took a significant turn for the worse in September.
In a release after the board meeting, the RBA highlighted that while financing is likely to be difficult around the world for some time ahead, Australia is in a better position given the relative strength of the local banking system.
Despite the Reserve Bank's downward trend, a survey by leading mortgage broker, Loan Market Group, which includes X ...
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Categories: Interest Rates, Media Articles, News.
(Housing Industry Association)
The fall in housing starts for the second consecutive quarter in June highlights the need to the importance of initiatives to boost the supply of affordable housing, such as the launch of the Housing Affordability Fund.
HIA, Australia's biggest residential building association said a 40,000 dwelling shorfall in the 2007/08 FY highlighted the need for housing affordability initiatives.
Australian Bureau of Statistics figures released on September 15, showed total new home starts fell by 3.7 per cent in the June 2008 quarter to a level of 38,348, the lowest in a year.
Detached house starts increased ...
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Categories: Insurance, Media Articles, Mortgage Brokers, News.
(Mortgage Business)
The RBA is unlikely to cut interest rates in October as a result of the US financial sector crisis and global economic uncertainty.
In an interview with Mortgage Business, Fariborz Moshirian, professor of finance at UNSW Australian School of Business, said that recent international events, such as the collapse of Lehman Brothers, were unlikely to impact Australia's economy significantly but would hold chief importance at next month's RBA meeting
"The market has fallen this week but generally speaking it should be able to weather this round of write-offs", he said.
Professor Moshirian said that ...
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Categories: Interest Rates, Media Articles, Mortgage Brokers, News.
(Jennifer Nielsen, CEO, X Inc Finance)
At it's September board meeting today the Reserve Bank cut official rates by one quarter of a percentage point and all major banks and non-bank lenders followed suit.
Amazingly, surveys amongst Loan Market and X Inc brokers say that six out of every 10 mortgage holders in Australia don't actually know what interest rate they are paying. And that means many people are paying more than they need to.
While many people track the news on interest rates, they can't actually tell you if they have the best rate themselves. Instead, they wait to ...
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Categories: Media Articles, Mortgage Brokers, News.
(Lending Central)
While other industries across the country are facing dire skills shortages, the financial services sector has a looming labour surplus to contend with as lenders put off staff in response to the rising cost of funding and liquidity issues.
Jennifer Nielsen, Chief Executive Officer of Loan Market Group, which includes X Inc Finance, said the US sub-prime mortgage crisis had effectively shut down the residential mortgage-backed securities (RMBS) market in Australia.
Many specialist lenders had been forced to either scale back their operations and ration credit, or close their doors altogether, she said.
Ms Nielsen cites that while ...
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Categories: Media Articles, Mortgage Brokers, News.
(The Age)
BANKS are still offering 100% home loans, despite an increasing risk that falling property prices could mean borrowers owe more than their house is worth.
According to Loan Market Group broker Commonwealth Bank, NAB and Westpac will still lend 100% of the purchase price of a property, less about 3% mortgage insurance. St George will lend 100%, including insurance, at a higher rate.
Loan Market Group chief executive Jennifer Nielsen said that while banks continued to offer 100% home loans, she expected that they would strengthen their criteria. "If you were a borderline 'yes' ...
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Categories: Media Articles, Mortgage Brokers, News.
(The Sheet)
Despite continuing uncertainty about government attitude to a loosening of the rules governing superannuation fund loans, more banks are preparing to launch loan products for superannuation funds.
Macquarie Bank and Westpac, along with a number of specialist lenders such as Calliva have been offering super fund loan products since early this year. ANZ is close to sign-off on a new loan and St George will have a margin lending product aimed at self-managed super funds by the end of this year.
Macquarie Group has added an equity gearing product alongside its Macquarie ...
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Categories: Media Articles, News. Tags: 100% Home Loans, Investment Loans, lo doc, low doc, low-doc-loans, Property Finance.
(Defence Housing Australia Investor Magazine )
Just as important as finding the right investment property is getting the right finance. Structuring your investment finance correctly will assist you to keep your costs down and manage your risk accordingly, says Jennifer Nielsen of national mortgage broker group, Loan Market.
Many investors aim is to own each property outright after approximately seven years - the average length of the property pricing cycle. This may or may not be you, but it is still true that two areas of your finance structure are important avenues to increasing your chances of ownership ...
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Categories: Investment, Media Articles, News. Tags: Investment Loans, Property Finance.
Sunday Telegraph
The current shortage of affordable housing has created an affordability crisis that has many First Home Buyers struggling to buy their first homes.
This crisis comes despite government initiatives such as the $7000 First Home Owners Grant and the ‘no duty payable' on First Homes' worth up to $500,000.
Despite the current credit crunch, as more and more first home buyers are unable to save for a deposit, No deposit or 100% loans have become increasingly popular; according to Ivan Karamatic, of mortgage ...
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Categories: Media Articles, News. Tags: 100% Home Loans, lo doc, low doc, low-doc-loans.
Loan Mark Group today called for a Federal Government review into the banking sector to closely examine ways of keeping competition alive among lenders as borrowers increasingly struggled to secure finance.
Jennifer Nielsen, Loan Market and X Inc's Chief Executive Officer, said a shortage of liquidity in the Australian financial system in the wake of the global credit crunch was continuing to drive good quality lenders out of the market. As a result, increasing numbers of people were being denied mortgages.
Entire consumer groups such as mature people (reverse mortgages and non-conforming loans) and small businesses (lo-doc ...
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Categories: Media Articles, News. Tags: 100% Home Loans, lo doc, low doc, low-doc-loans.
(Forbes Advocate, Herald Sun)
More than half of Australian homeowners believe they are worse off financially since Kevin Rudd was elected Prime Minister, a new survey shows.
An online survey conducted last month by mortgage brokers Loan Market and X
Inc Finance Group found that 54 per cent of respondents believed things were worse than before Kevin Rudd became Prime Minister last November.
A further 29 per cent said there had been no change in their financial circumstances since the election with only 17 per cent of respondents felt their financial position ...
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Categories: Media Articles, News.
(Australian Broker)
Despite a spike in house repossessions being reported in parts of Sydney and Canberra, mortgage brokers operating in these areas claim they have not seen the `crisis' impact on their businesses.
The outlook in the volatile area of Kellyville, an outer Western Sydney suburb which experienced six houses being repossessed within 10 months, has remained positive for brokers in terms of volume of business.
Speaking to AB about the current climate in the area, one broker from Gattcorp Financial Services, Stephen Gatto, noted that although he had seen fewer new borrowers there was an increase in customers refinancing, the ...
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Categories: Media Articles, News.
(The Australian Jewish News)
X Inc mortgage broker, Grant Rheuben, was one of three finalists nominated for the award of Mortgage Broker of the Year as part of the Mortgage and Finance Association of Australia Excellence Awards. Rheuben who hails from Caulfield said, ‘I have always worked hard to be a true professional for my clients and provide an exceptional level of service".
Held each year to recognize members who demonstrate exceptional practice in their field, the MFAA Excellence Awards are the most prestigious awards in the mortgage and finance industry. There are up to 10,000 members of the industry ...
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Categories: Media Articles, News.
(Courier Mail)
THE number of Australians refinancing their home loans has soared. Chief Executive Officer of mortgage broking group X Inc and Loan Market, Jennifer Nielsen, says refinancing inquiries now account for 80 per cent of its call volumes.
The company's internal records show overall inquiries about finance rose 103 per cent in January and 50 per cent in February.
"A rise in refinancing inquiries of this magnitude suggests the demand for finance is starting to slow as the market has moved into a new phase", she says.
"Potential new borrowers are sitting on the sidelines while they wait out further rises ...
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Categories: Media Articles, News.
(Your Mortgage)
Falling behind on your mortgage payments doesn't have to mean the end of the world - or the end of your home. Depending on your circumstances, there are ways to delay a lender trying to sell the very roof from over your head. Your Mortgage nuts out the best way to avoid losing your home as well as your sanity
While falling behind on your mortgage repayments isn't something to cheer about it is also not something your bury your head in the sand about either.
In fact, home loan default is becoming more common as more Australian mortgage owners ...
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Categories: Media Articles, News.
(Australian Property Investor)
A draft national Bill on finance broking could wipe low doc and no doc loans from the marketplace, broker X Inc Finance and Loan Market says.
THE draft National Finance Broking Bill is modeled on New South Wales Government legislation on behalf of all the states.
the chief executive of X Inc and Loan Market, Jennifer Nielsen, said the Bill required brokers to make "sufficient enquiries" about a borrower's financial position to ensure they can repay the recommended loan.
Nielsen said she supported responsible lending but that the proposed regulations laid too much blame for defaults at the feet ...
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Categories: Media Articles, News. Tags: 100% Home Loans, lo doc, low doc, low-doc-loans.
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