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Hello,
Welcome to the September issue of Interest.
Spring has arrived and for the majority of people focus has turned once again to the property market. With the family home or investment property being the major asset for most Australian families, its little wonder we take such a keen interest in all things which influence property. Whether its the continuing upward trend in property prices or potential rising interest rates, there is no shortage of information in the media to satisfy our interest. So, are rates going to rise? Yes. Rises are likely to be both Reserve Bank driven as well as initiated by the lenders outside Reserve Bank direction. How high will they go? Nobody knows. However, my feeling is perhaps not as high as a lot of media commentary is predicting. Im always happy to talk interest rates, so give me a call if you would like to discuss rates in more detail at any time.
Now is also the time to literally "get your house in order". I am often asked by clients what I consider to be the best thing to do with any extra cash or savings they have put away. Should it be used to pay down your home loan or better left to earn interest in a term deposit. With few exceptions my standard response is to pay down your home loan wherever possible. If your loan allows, you should look to take advantage of a home loan redraw facility to help reduce your overall loan, with the added benefit of redrawing any excess payments accumulated if ever its needed.
I like to think the value of having your own finance broker is not just about helping you select the right finance product, its also about providing service and reliability - something you no longer receive when dealing with the large lending institutions. For me the real enjoyment of running my own business is the long term relationships Ive developed over the years with my clients. I genuinely enjoy hearing from my clients, so if you have a question at any time just give me a call on 9955 0090 or drop me an email. Im confident in saying that there is no longer anyone within a bank that would still be around over any significant period of time to give you the same level of service and savings.
Enjoy this newsletter and feel free to share it with family and friends.
Regards
Duncan
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Level 7, 44 Miller Street
North Sydney NSW 2060| Tel: | (02) 9955 0090 | | Fax: | (02) 9955 4021 |
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First Home Buyers Deadline
No one likes to miss a bargain so be quick to take advantage of the First Home Buyers Boost before time runs out. The first of next month (1 October 2009) will see a significant reduction in the boost, down from $21,000 to $14,000 for the purchase of a new home and down from $14,000 to $10,500 for the purchase of an existing home.
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Rainy Day Savings
Under your bed, in a bank account or on your home loan, it's always handy to have a stash of cash for that rainy day. A cash buffer gives you the security of having money on hand if your personal finances take a turn for the worse. A hike in interest rates, job change, car troubles or even health issues can leave you strapped for funds if you don't have savings to fall back on.
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Confidence is Back
Australia's economic health has been given the all-clear with news that we've missed a recession, housing prices are on the up, the Aussie dollar is gaining strength and consumer confidence is edging upward.
The Reserve Bank of Australia (RBA) has upgraded its economic forecast and now expects stronger growth this year and next, making Australia the only OECD country to grow in 2009. All this spells good news for the housing market, where prices across all capital cities have been steadily rising.
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Service Counts
Service and reliability are never words you are likely to find associated with a bank, but to a mortgage broker these are the attributes that make us tick and are an essential part of the way we do business. We're not just talking here about 'service with a smile', but the kind of good old-fashioned service that you might have forgotten even existed - the kind that makes you feel like a valued customer, not just a number at the end of a queue.
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Mortgage & Finance Association of Australia
We are members of the MFAA, the peak industry body. All members are bound by a strict code of ethics to ensure the highest levels of service, integrity and professionalism.
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About Us
PAX Mortgages was established in 2002 by Duncan Johnston. Duncan has spent his entire career in the banking and finance industry, having spent 12 years at the Commonwealth Bank working with all aspects of consumer and commercial lending solutions. Duncan's last role at the Commonwealth Bank was as a Senior Relationship Executive where he managed a portfolio of private clients requiring lending facilities of up to $20 million.
No two loans are the same. Duncan's experience gives him the capability to offer you the best advice and tailor a mortgage solution for your individual needs.
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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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