AMP Bank has today announced that it will recommence lending to property investors.
In a statement AMP Bank said it will accept investor property loan applications effective
16 November following a temporary withdrawal from the market in response to regulatory growth guidelines.
APRA statistics show that AMP's investor loan growth was 14.6 per cent in July. This slowed considerably to 10.7 per cent in August after the bank pulled out of the investor space.
The return to investor property lending is in line with AMP Bank’s commitment to return to the market in 2015
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#buyers #buyersagent#realestateagent #invest
It now costs $4,000 A MONTH to pay the mortgage on an average house in Sydney, and affordability is plunging across the country... so will you EVER be able to afford your own home?
Latest housing industry data shows homes are becoming harder to buy
As of early November if you are buying a property in Victoria, the Land Registry will not register the change of ownership to your name unless you have first verified your identity.
The Land Registry expects you’ll do this through your conveyancer or lawyer. But, if you don’t use the services of one, the Land Registry will still require you to verify who you are.
This will add to the cost of your purchase. It may also cause delays to your settlement, if you leave things to the last minute.
If you have already bought and settlement of your purchase will take place on, or after, 9 November you should speak with your conveyancer or lawyer in the near future to find out what you need to do to verify your identify.
If you are selling a property the Land Registry likewise requires you to verify who you are, before it will register a change ownership to the name of your buyer.
Just like a buyer, the Land Registry expects you’ll verify your identity through your conveyancer or lawyer. And, if you don’t employ one, you’ll still need to verify who you are.
If your sale is currently in progress and settlement will take place on, or after, 9 November you, too, should speak with your conveyancer and lawyer soon to find out what needs to be done and the expense involved. If you leave it to the last minute, the settlement of your sale could be delayed.
The Land Registry requirements do not oblige you to identify yourself when putting your property on the market, or at the time you buy.
Victoria’s estate agents and buyer’s advocates are unable to verify your identity for the Land Registry.
Paul Glossop, 33, has a wife, a young son and $2.5 million in mortgage debt.
But the prospect of millions of dollars in mortgages owed to the bank doesn’t faze him. In fact, he is planning on adding to his 10 property portfolio in the near future.
Read full Story
CUA announces variable rate below 4%
Australia’s largest customer-owned financial services provider has announced an interest rate cut of 14 basis points to one of its variable rate home loans for owner-occupiers.
CUA’s Fresh Start Basic rate of 3.99 per cent will take effect on 24 November.
The credit union’s three-year fixed rate for owner-occupiers will also fall by 0.16 per cent to 4.09 per cent.
“The rate cuts to some of our basic home loans are good news for owner-occupier borrowers. As a customer-owned business, we need to balance good value and competitive interest rates for customers today, with the need to be sustainable over the long-term,” CUA chief executive Rob Goudswaard said.
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Yes it good news while the big 4 banks have increased their interest rates, here is one reducing theirs.
Suncorp Home Package Plus - 2 Years Fixed LVR 80 - 90% - (Owner Occupied)
from 4.39% to 4.19% change of -0.20%
And for Investors
Suncorp Home Package Plus - 2 Years Fixed LVR <80% - 150K to $499,999 (Investment)
from 4.59% to 4.44% change of -0.15%
Bankwest has just announced that it will lift its variable home loan rates.
Bankwest today announced it will increase interest rates by 18basis points across its variable home loan portfolio, effective 17 November 2015.
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Caring for you, your family and friends
Hello And welcome to the 1300WHATLOAN newsletter for November 2015
Our Apologies but we will be closed
from 27 to 29 of November 2015. For any urgent matters please contact 0403 151 614.
" Best rates available on fixed rate loans Set repayments for peace of mind and easy budgeting
The Reserve Bank of Australia has announced its cash rate decision for the month of November.
At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 per cent.
Fourth major bank hikes Interest rates
The last of the four major banks has decided to increase variable rates on owner occupied and investment home loans.
ANZ by 0.18%
NAB by 0.17%
CBA by 0.15 %
The Reserve Bank of Australia still has Interest rates at its lowers in decades at 2%. BUT with the Banks variable rates going up is it time to review your mortgage and see what options their is ?
Please feel free to contact us if you want an obligation free review of your loan. With over 27 lenders available on your panel, we should be able to help you save money on your loan.
www.1300whatloan.com.auBig four bank profits to top $30 billion
It’s all about the shareholders - Big 4 Banks earnings approximately $30billion this financial year.
"We see mortgage repricing as essential to restoring profitability and preserving dividends" Citi analyst Craig Williams
What is the PPSR?
The Personal Property Securities Register (PPSR) is a national online register that can provide information to help protect consumers when they are buying personal property such as cars, boats or artworks (not including land or buildings).
If you check the PPSR before you buy, you can find out if the personal property you are buying has a security interest attached to it. This is important because if you buy property subject to a security interest, it is possible that the person or entity with the security interest will repossess it.
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What is the most prestigious view in Australia?
Sydney and Melbourne won't see 7.5 per cent bust: economists
Macquarie Bank claims Australia's property prices are in for a 7.5 per cent drop, yet leading economists argue that there's no downturn on the horizon for Sydney and Melbourne.
15 home office hacksWorking from home is often seen as a privilege but after a while, it can start to feel a bit stale. Here’s a few home office hacks to keep your energy levels up.
10 ways to cope with a tiny bathroom
Can you barely manage to take two steps in your bathroom? Living in a house with a miniature-sized bathroom isn’t easy, so we’ve put together 10 tips to help you cope.Full post...
Australia's worst-performing suburbs named
The past three years haven’t been all good news for investors, with no fewer than 17 capital city suburbs experiencing double-digit declines in house prices – including five in Sydney.
Google has all the answers, and now it can even tell you whether it’s worth investing in solar panels.
Google’s new Project Sunroof allows home-owners to assess their roof’s potential for solar power. Harnessing the same high-resolution aerial mapping used by Google Earth, Project Sunroof can calculate how much sunlight hits your roof.
Visit Project Sunroof
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