Source expert help from your local mortgage broker prior to making an offer on any property; your Loan Market mortgage broker has access to every major bank and secure lender in Australia, and can assist you to find an appropriate home loan.
A new report released by The Council of Australian Government’s Reform Council (COAG) has revealed that Brisbane has the nation’s least affordable homes after Perth, with nine out of 10 people paying house prices that don’t match their incomes.
The report says only 9.8 per cent of Brisbane houses are affordable, second to Perth, which has only 5.5 per cent home affordability.
Also according to the report, in Brisbane "the typical home price was the same as Sydney" but there was not as much variety in the property market and "income levels were much lower than in Sydney".
It says the typical house ...
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Categories: Finance News. Tags: Borrowers, Borrowing Capacity, Brisbane, how much you can borrow.
February 15, 2009,
Ultimate guide to home loans gives lifeline to borrowers
Consumers who are drowning in the quagmire of home loan information and figures have a new lifeline in the form of a new home finance book.
"The current economic climate has added to the stresses and complexities of shopping for a home loan," said Ms Jennifer Nielsen, editor of new book The Ultimate Guide to Home Finance.
The good news is that with the increased first home buyers grant people are putting their toes back in the water and the demand for mortgages is on the rise.
Australian Bureau of Statistics last ...
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Categories: Finance News, Media Articles. Tags: Borrowers, First Home Buyers, Home Loans, Mortgage Brokers, Mortgages.
January 28, 2009
More borrowers to face mortgage stress
The number of Australian borrowers under mortgage stress is likely to increase as the threat of rising unemployment figures forces borrowers to reprioritise their expenditure or refinance to avoid forced foreclosure.
The Fujitsu Consulting monthly Stress-O-Meter has found that the number of borrowers who will be forced to refinance to meet their mortgage repayments or reprioritise expenditure will rise by 46 per cent to 929,000 by July.
Mortgage holders under severe mortgage stress – behind in loan repayments, trying to sell or being foreclosed - will increase 87 per cent to 302,000 by ...
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Categories: Finance News. Tags: Borrowers, Mortgage, Mortgage Stress, Refinance.
December 24, 2008
Although Scott Hallam, loan manager with Loan Market Home Finance, has 20 years' experience
in the finance industry, he has only been broking for six. Prior to that, he had spent fifteen years sharpening his sword at the Commonwealth Bank.
In 2007, he placed 99th overall on the list and in 2008, he had improved 51 places to finish 48th.
In getting there, Hallam spent the year focusing his efforts on providing his customers with an unparalleled service. His clients, as far as he is concerned, are the best referral source. "There's no better referral than one from a satisfied client," ...
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Categories: Finance News, Media Articles. Tags: Borrowers, First Home Buyer, Mortgage Broker.
December 18, 2008
The days of going cap in hand to the bank manager for a loan and gratefully accepting his first offer are over.
Even now the lending criteria have tightened; borrowers and mortgage brokers negotiate with lenders every day.
There’s nothing to stop customers from being proactive about their home mortgage rate, says Jennifer Nielsen, chief executive officer of Loan Market Group.
“Don’t sit around and wait to be told what to pay. Make sure you’re getting the best deal possible from today."
Borrowers looking for a better rate often believe their only option is to switch lenders. Nielsen advises that this can ...
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Categories: Finance News, Media Articles. Tags: Borrowers, Home Loan, Interest Rates.
December 18, 2008
Mortgage brokers are confident that more interest rate cuts and better deals are on the way, the latest Mortgage Business’ straw poll says.
Of the 643 respondents who participated in the poll 82 per cent said now was not a good time for borrowers to lock in a fixed rate loan.
Just 14 per cent said it was a good time while four per cent were unsure.
With interest rates at their lowest level in eight years mortgage broker Loan Market has experienced an increase in enquiries from borrowers eager to find a way out of their fixed rate loan contracts.
Jennifer Nielsen, ...
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Categories: Finance News. Tags: Borrowers, Fixed Rate, Interest Rates, Mortgage, Mortgage Brokers.
More than 100,000 Australian mortgage holders are missing the benefits of falling interest rates after locking into fixed rates of more than 8% over the past 12 months, according to Australia’s largest independent mortgage broker.
Figures from the Australian Bureau of Statistics show fixed rates of two years or longer were taken out on 126,054 dwellings in the 12 months to August, 2008.
Some of the major banks this month announced cuts in their fixed rate products by as much as 1.6 per cent.
But Jennifer Nielsen, Chief Executive of Loan Market Group, said most mortgage holders should continue to steer ...
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Categories: Finance News. Tags: Borrowers, Fixed Rates, Variable Rates.
