More News
After its May 2012 meeting the Reserve Bank has reduced the official cash rate by 0.50% to 3.75%pa. The reduction reflects a general weakening of the Australian economy and lower than expected inflation figures. The waiting game is now on to see how much of this cut the banks will pass on.
As we celebrate Anzac Day with family and friends we will think of all those who gave their lives in sacrifice for our country and of those who are currently serving both in Australia and overseas.
Interest rates are the hot topic in financial circles at the moment. In the words of RBA Assistant Governor "The only thing which is certain is that uncertainty is likely to persist for some time to come". Although the RBA is leaving rates on hold, some banks are independently raising their rates. We have had many customers ask us whether fixed rates are a good option. For more information give us a call to talk about your individual circumstances and have a look at the following article by clicking here.
The Autumn edition of our Mortgage Magazine is now available and all subscribers should have received their copies in the mail. Read about the RBA's secrets for property investment and What Self Managed Super Funds are telling us about the economy. If you don't get a copy and would like one simply click on the link on the right of this page to subscribe.
Our new competition to win an escape for 2 to Qualia, Hamilton Island starts tomorrow. To enter just make an appointment to see one of our loan consultants or refer a friend to our business. Click on the link above to find out more.
As the banks scramble to protect their profits by putting up their interest rates this month many families will find it harder to manage their finances. It is well known in financial circles that February is the month when bad spending habits come home to roost. A little extra spending or over reliance on credit from Christmas shopping and holidays may be realised this month, and in most cases not budgeted for. This increased consumer debt results in financial stress so early in the New Year.
Not a good start to 2012!
If you are wondering whether you’ll manage your loan repayments and pay off those credit card bills, then I am sorry to say that it is time to get on to that New Year’s Financial Resolution you have probably been avoiding – an honest household budget.
If you have more expenses and debt repayments than income – don’t delay! Take action immediately before your financial situation becomes worse.
We have prepared an article which has some useful information about your options to regain peace of mind with your finances under control. Click here for your free copy.
PS: If your debt levels are concerning you and you think you are observing the first signs of trouble, pick up the phone now before it gets too late. We don't judge. We are here to help.
The Reserve Bank has kept the cash rate unchanged at 4.25%pa following its February 7 meeting. Wtih some banks making a point of now not aligning their rate movements to the Reserve Bank it will be interesting to see if any rate changes occur this month. However, in reality the likelihood of any rate cuts this month is low. Fixed rates are still quite attractive and if you have any questions about switching to a fixed rate give the office a call.
Our competition to win a Smart TV and entertainment package has now closed. Congratulations to the winner M Baylie all the way from Queensland. Keep an eye out for our new competition starting on 1 March to in 3 nights at the Luxurious Qualia Resort on Hamilton Island. More details to follow once everything is finalised!
Our current competition to win a smart TV entertainment package worth almost $10,000 closes on 23rd January 2012. Entering the competition is easy! Simply make an appointment to see one of our loan consultants or refer one of your friends or family to use our services or to receive our magazine before the closing date. The more people you refer the more entries you will receive. If you don't currently receive our quarterly magazine you can subscribe to receive it and we will give you an entry into the competition. Good luck!
We would like to take this opportunity to wish our wonderful customers a very Merry Christmas and Happy New Year. Our office will be closed from 12.00pm 23rd December 2011 reopening at 9.00am 9th January 2012. If you require assistance during this period please email us at loans@shirefirstmortgages.com.au or call 95317503 and we will endeavour to get back to you within 48 hours.
After 12 months of keeping interest rates on hold, the RBA has sent borrowers an early Christmas present by reducing the official cash rate for the second consecutive month. The cash rate has been reduced to 4.25%pa providing borrowers with additional spending power over the busy Christmas season. the Reserve Bank next meets again in February 2012 with further rate cuts tipped.
Not all banks have passed on the full 0.25% cut to the offical cash rate announced by the Reserve Bank following its meeting on 1 November. Is this a sign that the price war between the banks is now coming to an end? To find out if your rate and loan are still competitive contact us today for a no obligation consultation with one of our mortgage advisers.
It is time for the annual Gymea Village Fair this Sunday 30th October. We will have a stand right outside our office with balloons and other giveaways as well as free on the spot Comprehensive RP Data property reports. If you are in the are drop past and say hello. We would love to see you.
Following its October 2011 meeting, the Reserve Bank of Australia has left the official cash rate on hold at 4.75%pa. This comes as no great shock to those repaying debt at a variable or split interest rate. Uncertainty in world economies along with increases in our unemployment levels and poor household growth has suppported this decision making.
We strongly recommend that with today's economic uncertainty it is important to focus on your finances. Take the time to set a budget and start planning for the future. Whether it be for an investment property, renovations or new car, having a plan is essential. Take some time to budget by using our free budget planner and calculator found in our online calculators. If you need some more information or help please contact us. It's our job to ensure borrowing and planning for your new home or refinance is as stress free as possible.
New market research from CoreData has revealed that Australian mortgage brokers are more engaged with customers than banks or credit unions.The survey saw mystery shoppers visiting mortgage brokers, banks and credit unions, scoring them over a range of criteria - and brokers came out on top. The Market Research Company reported that Brokers put extra effort into knowing their customers and performing for them. In addition, Brokers' income is linked to completing the loan, so they have the fastest speed-to-market for borrowers.
What more reason do you need to call Shire First Mortgages today instead of going directly to your bank?
At its meeting on 6.9.11 the Reserve Bank has left the cash rate unchanged at 4.75%. Variable interest rates will therefore remain at around 7.00%pa with fixed rates looking incresingly attractive at around 6.4% for a 3 year fixed rate. Contact the office if you would like to know more about variable or fixed rates.
The NSW State Government has just announced it will restrict stamp duty concessions for first home buyers purchasing a home under $600,000 to off the plan and newly constructed properties effective from 1st January 2012. On a purchase of $500,000 this will mean an increase of around $17,000 in stamp duty costs for first home buyers purchasing established homes. To avoid the increase first home buyers looking at existing homes will need to enter into a contract to purchase prior to 1/1/2012.
Most of the banks have significantly reduced their fixed rate loans over the past 24 hours. On average a 3 year fixed rate is now somewhere between 6.6%pa and 6.7%pa. If you would like to know more about locking in some or all of your loan give us a call today.
As predicted by 50% of economists, the Reserve Bank has left the official cash rate on hold at 4.75%pa at its meeting in August 2011.
Unfortunately all good things come to an end and our Daydream Island Spa Holiday competition closes today at 5.00pm. The winner will be drawn on Tuesday 26th July at 12.00pm. Good luck to all who entered.
Did you know that only slightly more than 20% of Australians invest in property outside their family home? Many more would like to but feel it is out of their reach, or they are just too scared to have debt.
But is it out of your reach? And is having debt a bad thing?
We have found that it's not only high income earners who successfully invest. In fact, we have clients on modest incomes that have a clear goal to get ahead, carefully manage their money and build an investment portfolio.
Do you have what it takes regardless of your income?
Read the attached article and call, email or facebook the office if you would like us to send you more informative articles on property investment.
At its meeting today the RBA left the official cash rate unchanged at 4.75%pa. With retail spending down and inflation below the RBA target this decision does not come as a big surprise but offers relief for all mortgage holders. Most economists now concede that it is unlikely rates will rise in the near future.
The Senate today passed the government's legislation to ban all mortgage exit fees from 1 July. The vote was tied but passed with the support of the Greens and Senator Fielding. Whilst the ban will in principle make it easier for borrowers to switch lenders it could result in decreased competition within the industry which will lead to increases in borrower costs overall.
After a hard week's work battling with the banks even the most dedicated mortgage brokers and their PA need to let their hair down!
Leading Mortgage Insurance company Genworth has released its International Mortgage Trends Report for 2011. One of the key findings was that almost 50% of all Australian Mortgage holders pay more than the minimum mortgage payment. This is a great way to help pay off your loan sooner and create equity in your home. For a full copy of the report contact our office and we will email one to you.
Following its monthly neeting the Reserve Bank has decided to leave the cash rate on hold at 4.75% per annum. This is good news for home owners and investors alike.
Shire First Mortgages has just been shortlisted for the Australian Broking Awards as Boutique Operator of the Year 2011.
Interest rates are tipped to increase by as much as 0.5% before the end of 2011 with a 0.25% rate rlse likely in June or July 2011.
