Browse Posts “Press Releases”.
(Jennifer Nielsen)
Mortgage broking group Loan Market said it was vital that home owners in Sydney's south-western suburbs prepare a plan to cope with rising interest rates and the spiralling cost of living.
Loan Market Chairman Sam White said the results of a recent study on mortgage delinquency by international ratings agency Fitch were cause for serious concern, pointing to a widening gap between the well-off and mortgage battlers. The study found New South Wales had the seven suburbs under most mortgage stress in Australia, with six located in south-western Sydney.
According to the survey, the suburb most in arrears was ...
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Categories: News, Press Releases.
Expatriate Australians returning home due to the global financial storm are driving up interest in property markets nationwide, according to 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.
"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", Ms Nielsen said.
"They want to buy property before they come back. We now have three in-house brokers dedicated to ...
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Categories: Interest Rates, News, Press Releases, Real Estate.
The Reserve Bank of Australia answered a cry for help from struggling homeowners in need of a substantial cut in their home mortgage rates, a survey has found.
An online poll conducted by leading mortgage broker Loan Market Group, which includes X Inc Finance, found 66 per cent of respondents believed last month's quarter percentage point reduction by the RBA made no difference to them financially.
Loan Market Group Chief Executive Jennifer Nielsen said the survey results showed homeowners were in dire need of significant relief after suffering through 12 official rate increases in six years, including four since August, ...
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Categories: Interest Rates, News, Press Releases.
Most Australians are prepared to allow lenders to access their entire credit history in order to get a better deal for a home loan, a new survey has found.
An online poll conducted during August by leading mortgage broker Loan Market Group, which includes X Inc Finance, found 72 per cent of respondents said they supported positive credit reporting.
Under positive credit reporting, lenders can scrutinise an applicant's full credit history.
While almost three-quarters of those surveyed supported positive credit reporting, 19 per cent were unsure about allowing access to so much of their financial details and nine ...
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Categories: Mortgage Brokers, News, Press Releases.
Australians are finding it more difficult to obtain housing finance as home lenders battle to deal with the global economic slowdown, a new survey has found.
An online poll in June conducted by Loan Market Group's X Inc Finance, Australia's fastest growing mortgage broker, found 60 per cent of respondents felt they were finding it harder to get a home loan in the wake of the credit crunch.
Of those surveyed, 32 per cent said they considered themselves a "safe bet" for lenders but were unable to obtain finance.
Another 28 per cent said previous finance issues meant lenders "won't ...
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Categories: News, Press Releases. Tags: 100% Home Loans, lo doc, low doc, low-doc-loans.
Superannuation property investment is now available in Australia. Self Managed Super Funds (SMSF) often want to gear their real estate investments in order to diversify risk and increase the yield on their investment, but many funds do not have sufficient money to purchase real estate outright. The Superannuation Industry Supervision Act (SIS ACT) was amended in September 2007 to allow super funds to borrow and charge their assets so long as a special structure is used
What are the Features of the Self Managed Super Fund (SMSF) Leveraged Property Investment? You can now choose any kind of property including residential, ...
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Categories: Mortgage Brokers, News, Press Releases. Tags: Investment Loans, Property Finance.
First Home Buyer deposit schemes are the first of their kind in Australia and are offered through the federal government. It is a fantastic scheme that offers deposit saving support for first home buyers called First Home Saver Accounts and is designed to assist Australians aged 18 and over to save for their first home. First Home Saver Accounts provides a simple, tax effective way for Australians to save a deposit for their first home through a combination of a Government contribution and low taxes.
In summary, here is how it works. The Government will pay a contribution on up ...
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Categories: News, Press Releases. Tags: Investment Loans, Property Finance.
The majority of Australians hold little fear of limited-documentation mortgages in the wake of the collapse of the US subprime loan market, according to a survey by X Inc Finance and Loan Market, Australia's fastest growing mortgage broking group.
The group's February online poll found that the recent problems in the US higher-risk loan market had not overly damaged demand in Australia, with almost 63 per cent of respondents to the survey claiming low-documentation and no-documentation loans were appropriate in the right circumstances.
"The results suggest borrowers in Australia have quite a mature understanding of limited-documentation loans and haven't ...
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Categories: News, Press Releases. Tags: 100% Home Loans, lo doc, low doc, low-doc-loans.
Banks and other big lenders which raise standard home loan rates in excess of this week's official increase of 25 basis points are effectively doing the Reserve Bank of Australia's job for it by further slowing the economy, according to X Inc Finance and Loan Market, Australia's fastest growing mortgage broking group.
Jennifer Nielsen, X Inc and Loan Market Chief Executive, said higher than mandated increases in interest rates by the banks amounted to another incentive for consumers to cut spending. This week the Reserve Bank raised the official cash rate for the twelfth consecutive occasion, a quarter ...
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Categories: News, Press Releases.
Recent rises in official interest rates have sapped demand for new credit in the early part of 2008 with refinancing now the primary concern for borrowers, according to X Inc Finance and Loan Market, Australia's fastest growing mortgage broking group.
Jennifer Nielsen, X Inc and Loan Market Chief Executive, said the company's internal records showed that overall inquiries about finance had increased sharply following the Federal election in November, rising 11.6% per cent month-on-month in December, 102.9% per cent in January and 49.9% per cent in February.
However, refinancing inquiries now accounted for 80 per cent of call ...
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Categories: News, Press Releases.
X Inc Finance, Australia's fastest growing mortgage broker, today called on the new Federal Government to lead a national overhaul of regulations governing home loan lending to ensure all parties involved in the industry meet minimum professional standards.
Jennifer Nielsen, X Inc Chief Executive Officer, said the regulation of the home loan industry varied between the states and a national approach was needed to make participants more accountable and transparent. She called for the introduction of a national licensing system to cover all of the industry.
"One idea that I strongly believe in is making lenders and aggregators more responsible for ...
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Categories: News, Press Releases.
Recent addition to the financial services industry, X Inc Mortgage Broker Peter Behrendt has been nominated for the Achievement Award at the 2008 Mortgage and Finance Association of Australia's (MFAA) Excellence Awards.
The Achievement award is for up and coming brokers who have less than four year writing experience (as at 29 February 2008). Being the only peer or self nominated awards in the mortgage industry, the MFAA Awards are judged by an independent panel of experts, setting the industry benchmark. Judging is based on five key behaviours - their professionalism, integrity, ethical conduct, innovation and role-model value.
Thrilled ...
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Categories: News, Press Releases.
The finalists in the 2008 Mortgage and Finance Association of Australia's (MFAA) Excellence Awards have been announced and X Inc Mortgage Broker, Grant Rheuben a local resident of Caulfield with an office in Port Melbourne is one of the finalists competing to take home the title of Mortgage Broker of the Year.
The Excellence Awards are for MFAA members who display exceptional practice in mortgage and finance industry. The Awards encourage members of the industry to constantly improve and strive for excellence.
The MFAA Awards are peer or self nominated and are the only mortgage industry awards judged by ...
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Categories: News, Press Releases.
(Jennifer Nielsen)
X Inc Finance, Australia's fastest growing mortgage broker, today warned that low documentation- and no documentation loans would be effectively stamped out under proposed new regulations to govern the finance broking industry.
Jennifer Nielsen, X Inc Finance Chief Executive, said proposals in the draft National Finance Broking Bill, modelled by the New South Wales Government on behalf of all states, would deprive thousands of borrowers of a legitimate and responsible form of finance.
The Bill requires brokers to make "sufficient enquiries" about a borrower's financial position to ensure they can repay the recommended loan. Ms Nielsen said that she supported ...
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Categories: News, Press Releases. Tags: 100% Home Loans, lo doc, low doc, low-doc-loans.
In January 2008, for the first time, the five major banks raised their standard variable home loan rates over and above the Reserve Bank shifts. As a guide, standard variable rates among the major five lenders are now: ANZ 8.77% - CBA 8.67% - Westpac 8.72% - NAB 8.69% - St George 8.77%. More than ever, we encourage you to think about money as a commodity and compare your home loan options.
You can call Bob Staley from X Inc Finance who can advise you on which products might best suit you. Contact him on 02 9871 4465, 0410 ...
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Categories: News, Press Releases. Tags: Mortgage Brokers.
(Vicki O'Callaghan)
As current interest rates and property prices increase, many aspiring home owners are feeling that purchasing a home is becoming out of reach. An Equity Finance Mortgage (EFM) is a home loan product that can help to reduce the upfront and ongoing costs of purchasing a new property.
An EFM works in conjunction with a traditional home loan. The EFM allows you to borrow up to 20% of the value of the property without the requirement of making any regular repayments on this component. Repayment of the EFM is required when you eventually sell your property.
As no ...
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Categories: News, Press Releases.
(Jennifer Nielsen)
SYDNEY - Rising interest rates and all-time high petrol prices have failed to deter prospective borrowers, with home loan inquiries in January keeping pace with volumes a year ago following a record December, according to X Inc Finance, Australia's fastest growing mortgage broker.
Jennifer Nielsen, X Inc Finance Chief Executive, said inquiries were up 50% in December over November while January looks set to exceed December by another 30%.
"December inquiries surged with people getting back into the market after delaying buying decisions during the Federal election campaign", Ms Nielsen said. "Beyond that, inquiries typically surge in ...
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Categories: News, Press Releases.
(Jennifer Nielsen)
SYDNEY - X Inc Finance, Australia's fastest growing mortgage broker, today advised borrowers to carefully evaluate any decision to switch home loan providers following recent rises in variable interest rates on mortgages by Australia's major lenders.
Jennifer Nielsen, Chief Executive of X Inc Finance, said that while she welcomed any move to make the mortgage market more competitive, borrowers needed to fully appreciate the expenses involved in shifting their mortgage. She responded cautiously to comments by Federal Treasurer Wayne Swan that the Government would investigate ways of making it easier for borrowers to switch lenders.
"It's important for borrowers ...
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Categories: News, Press Releases.
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8.50%* 5 Year Double Honeymoon Home Loan (Variable)
Economy Home Loans 5 Year honeymoon will suit anyone looking for a flexible home loan at a lower interest rate. And the best news is that at the end of five years, the interest rate drops an extra 0.1%* off the final rate to ...
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Categories: Mortgage Brokers, News, Press Releases. Tags: Investment Loans, Property Finance.
Mortgage broking group Loan Market said it was vital that home owners in Sydney's south-western suburbs prepare a plan to cope with rising interest rates and the spiralling cost of living.
Loan Market Chairman Sam White said the results of a recent study on mortgage delinquency by international ratings agency Fitch were cause for serious concern, pointing to a widening gap between the well-off and mortgage battlers. The study found New South Wales had the seven suburbs under most mortgage stress in Australia, with six located in south-western Sydney.
According to the survey, the suburb most in arrears was Guildford, with ...
read more...
Categories: News, Press Releases.
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