National Australia Bank (NAB) yesterday became the first of the big banks to offer an exit fee-free home loan.

The Clear Banking Home Loan, which takes NAB’s standard variable interest rate, has no monthly service fees and no early exit or bank discharge fees.

• The only applicable cost is a $600 application fee.
• The loan is available on loans from $80,000, with a maximum LVR of 95 per cent.

A No Exit fee loan? Are you kidding me, where are they going with this one? Sure sounds good to me.

www.loanmarket.com.au – try the Loan Market Finance Brokers for more information and to compare with other industry standards.

St George burnt by credit dragon and cuts forecast: The global credit crisis and sharemarket turmoil have forced St George Bank to cut its earnings forecast for the rest of this financial year from 10% to as low as 8%, after first-half core profit growth slowed to 6%.

 Oh dear, poor st george bank. does that mean their variable interest rates will rise 2 times every month on personal loans??? OF COURSE it does.

St George, don’t your directors buy newspapers and milk and bread and have families to feed as well?

quote: ‘the amount of distributable profit to shareholders by 10% to just $514 million’ – IS that all? read more about this event >>

What will your broker do about it? Will you refinance? Will you rent? What will you do?

Mortgage stress could grip 1m Aussies – The traditional definition of mortgage stress, where someone spends a third of their income on home loan repayments, is being challenged. A debt researcher says the current understanding of mortgage stress is outdated and that up to a million Australians, out of a possible six million mortgagors, could be struggling to pay off their home loan by next year due to decade-high interest rates. The author of a new report analysing mortgage stress, predicts 900,000 consumers will have to change their spending habits by September to cope with higher home loan rates.

report on mortgage stress from the age

The gap between supply and demand for housing is set to continue for some time, according to the latest report card on the residential building industry.

Commenting this week on the release of the March 2008 quarter HIA National Outlook publication, HIA Chief Economist Harley Dale said that the national new home building cycle was unlikely to turn up until 2009/10.

Most Australians consider property to be a safe investment, according to a recent study by ASIC into Australian consumers’ understanding of investments and their levels of financial literacy.

A survey of 1,200 Australian investors and several focus groups found that investors tend to believe that property investments are inherently safe, women are more likely to be at risk of under-investment and men are more likely to be attracted to risky investments.

First Home Saver Accounts -
Making The Australian Dream A Reality And Fighting Inflation

Federal Cabinet today formally approved the establishment of First Home Savers Accounts to help first home buyers save for their first home and help fight inflation.

Cabinet also formally approved a consultation schedule – beginning this week – to assist with the detailed design features of the Accounts.

First Home Saver Accounts are the first of their kind in Australia, and from 1 July 2008 will ensure a couple each earning average incomes and saving for their first home, putting aside 10 per cent of their incomes, will be able to save a deposit of more than $85,000 after five years of disciplined savings.

This is up to $14,000 more than they would have saved otherwise, depending on returns.

The First Home Saver Accounts signed off by Federal Cabinet today have been considerably strengthened since their first announcement during the election campaign.

Improvements include:

• Boosting assistance for low income earners through the provision of a minimum 15 per cent Government contribution on after tax contributions of up to $5,000; and
• Delivering a streamlined up-front Government contribution directly into accounts rather than through a more complex system of salary sacrificing.

luxury in the wilderness

Mullumbimby – It’s easy to forget what real nature is like – pristine, lush rainforest with fast running crystal clear streams. There are not many places left with teaming wildlife and picture perfect vistas of waterfalls, cascading rainforest, palms and ferns. Wouldn’t it be ideal to live in the wilderness but still be a short distance from all modern amenities and lifestyle choices?

Such a place exists and it is only a short distance, a hidden valley in the hinterland, from the vibrancy of happening Byron Bay – the first place to sea the Pacific sun on the east coast of Australia . In this special valley, exists a beautifully envisioned, immaculately executed home. The main house sits on its own landscaped ridge surrounded by 70 acres of untouched rainforest. Nearby are the separate guest quarters with the attached yoga and gym room. The pool area includes a sauna and meditation pavilion and a swimming pool fed by crystal clear mountain springs.

visit this mullummbimby luxury property for sale >>

the rainforest

To live in the middle of a primary rainforest is not something to taken lightly. It’s beauty, majesty and timelessness is to be savored every day. It is not possible to capture it on film or explain in words. Rainforests have evolved over millions of years to turn into the complex ecosystems that they are today. Many people feel that the coolness and all the negative ions from the flowing water improve sleep and relaxation. In the 1950s, 15% of the earth surface was covered by rainforest and today it is less than 2%. In Byron shire, 85% of its rain forest is in the Upper Wilson’s Creek/ Huonbrook area.

This house is in the midst of the rainforest near the end of a box valley.

this property is for sale >>

Dramatically Increase Your Investment Property Portfolio With Australia’s Foremost Multiple Property Specialists…

The principal of Investor Finance Solutions is John Chapman.

The team at Investor Finance Solutions are Multiple Property Specialists. They provide investment mortgage broking services to large and small investors in QLD, NSW, VIC, SA and WA. They can assist you to dramatically increase your investment portfolio through the analysis, structuring and correct financial placement of your investment properties.

Investor Finance Solutions can provide you with a tailor made Property Portfolio Review, which is a personalised property investment plan outlining the steps involved to reach your individual investment and lifestyle goals. The team at Investor Finance Solutions are investors themselves and therefore practice what they preach. Whether your goal is to own 2 properties, 30 properties, or to unlock equity to trade the Stock Market, speak to the team at Investor Finance Solutions to find out how they can help you.

Investor Finance Solutions is a full member of the Mortgage Industry Association of Australia (MIAA), the body providing industry development and self-regulation for mortgage industry participants and operates according to the MIAA’s high ethical standards of business practice.

New Home Laons
Extra (5.30 pm weekend on Nine) By Belinda Burrows
After weeks of speculation, last week it happened. Interest rates rose a quarter of a percent. And now mortgage holders are weighing up the cost of yet another interest rate rise. “Probably any change in interest rates is a good time for people to re-evaluate,” says Phil Burke from Australian Financial Services. A new mortgage product is the Five Year Double Honeymoon home laon which is available through mortgage brokers X Inc. It guarantees a lower variable interest rate for five years. At the moment for loans under three hundred thousand it’s 7 point two five percent, for loans over three hundred thousand its 7 point one five per cent. “So the rate’s slightly higher than the typical honeymoon rate but it’s lower than just about every other rate home laon you can get in the market,” says Jennifer Nielsen from X Inc.

So if the belt can’t be tightened any further, it may be worth looking at refinancing.
X Inc Mortgage Brokers offer a Five Year Double Honeymoon Home Laon.
For more information pls ring 139462 or log on to http://www.xinc.net.au

WEALTH MANAGEMENT
Save money, save water: X Inc
Thursday, 08 Feb 2007 12:17PM
Financialstandard.com.au

As interest in climate change and the long-running drought gather pace, mortgage aggregator X Inc Finance has joined the green campaign through a $500 Watercare rebate. X Inc is giving a $500 rebate per successful mortgage application to buy water saving devices, an initiative partly borne out of the group’s experience when visiting clients in their homes. “There are a lot of parallels in terms of saving money through your home loan and something as simple as saving water,” said the group’s chief executive, Jennifer Neilsen.
X Inc Finance Media Blog

As Australians brace for another interest rate rise on Wednesday, the country’s first home loan that offers a five-year honeymoon period and then stays below the standard variable rate for life has been unveiled.

Distributed exclusively through X Inc Finance, the Five Year Double Honeymoon Home Loan has been designed specifically to cater for uncertain economic times, and is the first in Australia that guarantees to stay below the prevailing variable rate for the life of the loan. Expected to be very attractive to professionals and first home buyers, it’s the first home loan in Australia that rewards loyalty by reducing the rate after the Honeymoon period.

The loan offers a range of benefits, including 30-year terms; ability to make additional repayments; split loan facility; and redraw at no cost.

For a $250,000 loan over 25 years, Five Year Double Honeymoon Home Loan borrowers can save more than $40,000 compared to borrowers with low-rate loans from other well-known lenders. (see table attached). A better solution The Reserve Bank of Australia meets tomorrow (7 November) to decide whether official interest rates should rise, following a 0.25pc increase in August on the back of a 0.25pc rise in May. Their decision will be announced on Wednesday. X Inc Finance CEO Jennifer Nielsen said the new loan would appeal to people who were looking for a better solution.

“It is an intelligent choice because it looks at the long term,” Ms Nielsen said. “We know that many Australians are feeling particularly anxious about the possibility of yet another interest rate rise. “That’s why we’re offering the Five Year Double Honeymoon Home Loan. This is a very special offering that aims to give the best possible value to borrowers over a long period of time.