Archive for the ‘Refinancing’ Category

Looking for a suburb that is showing steady growth is important when looking to buy or invest in real estate.

Because Channel Direct Home Loans has access to the lastest property sales reports on any suburb or region in NSW you can now also have that information by simple requesting a report now.

Suburb sales reports are being update weekly and can be viewed at any time here

The latest updates are Eleebana, Elermore Vale, Fishing Point, Fletcher, Georgetown,  Gosford, Greta  

There is more to refinancing than meets the eye.  Let’s look at the three main drivers behind refinancing:

1. Debt consolidation.
2. Better interest rate
3. Release of equity

Let’s look at the release of equity. Most of my refinancing activity comes through my investor clients. Investors are starting to fill the gap that was created by first home buyers. They are building a little bit of equity in their property and then refinancing so that they can buy another property.  It is like “leap frogging” into the next property.  Your equity provides the deposit and costs for the investment property. These funds are tax deductible, as it is the purpose of the funds that the ATO looks at rather than the security offered.

Releasing equity is a great way to start building your property portfolio.

If you have property in Lake Macquarie, Newcastle, Cessnock, Maitland, Central Coast or Port Stephens  and would like a no cost Rp Data property report just follow the link below

 No cost Rp Data Property Report

The City of Lake Macquarie has 11 suburbs record 10% and above capital growth in property for the first quarter of 2010 in figures recently published by Rp Data.

This shows that Lake Macquarie still has strong growth and supports it’s claim to being one of the fastest growing economies in NSW and a suitable place to invest.

As  you can see from this list the growth there is in all areas of the City.

Brightwaters 39% Hillsborough 23% Kahibah 23% Kilaben Bay 18% Windermere Park 18%

Belmont 15% Lakelands 15% Garden Suburb 13% Morisset 11% Fennel Bay 10% Nords Wharf 10%

Blacksmiths 9% Pelican 9% Cardiff 8% Wangi Wangi 8% Woodrising 8% Argenton 7% Speers Point 7%

Tingara Heights 6%

For a free copy of the Rp Data report on your suburb or any suburb you may consider investing in follow the link below and enter detail of the property.

Free Property Report

 

Figures just released by Rp Data show that the top performing suburbs in the Newcastle LGA  for the first quarter of 2010 were:        

Lambton Median Growth Graph

New Lambton 37%   Elermotre Vale 11%   Lambton 9%   Waratah West 9%   Merewether 6%   New Lambton Heights 6%

Channel Direct Home Loans offer anyone considering investing or buying another property a FREE Rp Data report valued at $89.95  by following  this link  and providing the details of the property.

From the latest report many suburbs within the Hunter Valley, Lake Maquarie, Central Coast and Port Stephens had capital growth in the first quarter of 2010. If you would like to know how you property or suburb performed follow the “free property report” link to receive a copy 

Now as we enter a new financial year it may be time to consider  entering into property as an investment, may be you would like to look at  property in you own area. 

Channel Direct Home Loans offer an obligation free consultation and can assist you should you wish to consider this option to wealth creation.

Get your free report here

Free Property Report

The gap between variable and fixed rates has narrowed considerably, after three of the big four slashed up to 45 basis points from their fixed rate mortgages.

According to a recent report by Canstar Cannex, only 16 basis points, on average, now separates the two loan types – the equivalent of $26 per month on a $250,000 home loan.

“Following the RBA’s cash rate increases, fixed and variable are now almost sitting at parity,” Canstar Cannex financial analyst Mitchell Watson said.

“Borrowers could see this as an opportunity to reduce the risk of fixing but they need to be aware that fixing a home loan is a long-term decision and very much a gamble, so it really does depend on your own individual circumstances.”

While Mr Watson said fixed rates were currently very attractive to home owners, borrowers were better off riding the variable wave, especially because the RBA has already indicated that another rate hike is unlikely next month.

In the minutes of the last Board meeting, the RBA all but confirmed it would keep the official cash rate on hold until at least August.

The Adviser Wednesday, 23 June 2010

For a free Rp Data report email us with the property detail

If you have multiple credit cards, I suggest that you target the card with the least amount of debt. Pay the minimum amount on the remaining cards each month and then pay as much as possible each month until it is paid down.  This will give you a psychological boost as you have achieved a small goal and gained a financial benefit.    You can then target the next card paying the minimum amount plus the amount you were paying on the smaller card and so the cycle goes on.

As a point to remember, if you are paying more off your home loan and have credit card debt, you are better to pay the minimum repayment on your home loan and pay that money off the credit card as your card is at a much higher rate of interest of say 18 – 21%.

When you are applying for a home loan, refinancing existing loan, car loan or any transaction involving finance the most valuable asset is your CRA report.

What’s on your credit bureaus report?
Your credit report contains information about you and your credit history, including:

• personal details – Your name, date of birth, Social Security number, driver’s licence number, employer, and spouse’s name are routinely noted. The CRA also may provide information about your employment history, home ownership, income, and current and past addresses
• credit applications - credit provider, amount of credit and type of credit (for example interest free loan, home loan, credit card)
• credit defaults – overdue payments of 60 days or more when you have been sent a letter notifying you of the default
• credit defaults that have been paid
• serious credit infringements or ‘clearout’ listings – this is when the credit provider has unsuccessfully tried to contact you in writing and has reported you as a missing debtor.
• information on the public record – for example judgment debts or bankruptcy orders

Lending institutions have different scoring methods when it comes to lending money for home loans, personal loans, refinancing of existing loan, vehicle & equipment and debt cosolidation.  

Since the GFC lenders have become less likely to lend when there are credit issues on your report.

How do I Get a Copy of My Credit Report.

You can obtain your report at any time by making application to the reporting agency, this can be obtained free (5-7 Days) or for a fee of $32.95 the report can be emailed within 4 hours. Link to my credit report 

Property valuations can be a contentious issue, particulaly when refinancing to a different lender or accessing the equity in your property.

To every person, their home is their castle.  For the Valuer it is simply a figure on paper and not an emotional investment.

A full valuation (not a computer modelling system) involves the valuer inspecting the property and market research, particularly of recent sales of property nearby. There are many factors that contribute to a property’s value but the most influential is the land component. Land appreciates, buildings depreciate. The Valuer’s job is to identify a value range and where the property is most likely to be in that range.

If you would like a Free appraisal of your home (value $89.95) then email info@channeldirect.com.au with details of the property