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.

Drive your savings further with a credit card that gives you automatic savings on everything you buy.

 With the BP-Citibank MasterCard the money you save is simply credited to your account. Apply for a BP-Citibank MasterCard before June 30, 2008: 10% off your petrol and everything else you buy at BP for three months. After the 3 months you’ll continue to save 5% off everything at BP

Facebook is raising $100 million in debt, bringing their total capital raised to nearly half a billion dollars. This most recent round will be used to scale the service via another 50,000 or so servers. Facebook now has over 70 million active users and around 109 M monthly visitors – Compare that to Google, which operates at least a million servers (and is adding 500,000 per year, says Business Week), and Microsoft, which is adding 200,000 servers per year.

Facebook says that “less than 1,000? users have 5,000 friends today. There are around 70 million active Facebook users, so the number of users who are affected is around one thousandth of a percent.

The 2008-09 Budget Papers will be available after 7:30 pm, Tuesday 13 May 2008 from www.budget.gov.au and from Department of Finance and Deregulation, Australian Taxation Office, australia.gov.au and Parliament of Australia.

I bet theres a few dollars set aside for me…

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.

Bensons Property Group Pty Ltd was established in 1994 by the current Group Chairman, Elias Jreissati. Since then Bensons has become one of Melbourne’s leading inner city property development companies. Bensons Property Groups philosophy has been to interpret market trends and Government direction, and apply this to develop ‘ahead of the market’ residential, mixed use and commercial projects in outstanding central locations.

View the quality and range of Bensons Melbourne Property developments >>

While predominately focused on Victoria, Bensons has undertaken property projects in other Australian States and overseas. The Group has also established marketing relationships for the sale of its residential apartments in a number of overseas countries. 

Bensons Property Group Pty Ltd – Melbourne Property Development

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 >>