News
Not All Property Dreams End Well
Undeniably, there’s a property bubble in Sydney and Melbourne. The problem is we won’t see it until it bursts.
How do I know? Because I remember the last one.
I was a banker in the 1980’s and I saw exuberance in the housing market rise to stupid levels. This was exasperated by the stock market crash of 1987. This crash led to investors having little or no confidence in the equity markets and them directing their money to the housing market.
From Sport to Cardiologists
Sometimes, when you’re unsure about your own financial situation and are carrying the burden in secret, it’s good to have a conversation with someone that does it for a living. It may be your accountant, a financial planner, a mortgage/finance broker or other financial expert. It’s good to share and get an opinion that has not been fermented in financial anxiety and stress. What you do with advice is completely up to you but at least you’ll be fully informed.
Bankers Bad Day: Client’s Nightmare
I’m sure all of us have bad days. In some jobs, however, a bad day can mean the difference between life and death. Take an engineer designing a new bridge that thousands of cars will use. If that engineer comes to work all crabby the chance of them making a mistake will increase. In this severe example, the results can be tragic. So where do bad days by bankers fit on this scale?
Will Interest Rates Go Up?
This is a question that is asked of us by every client. The answer – as of this moment – they already have. In case you’ve been incommunicado two of our major banks announced increases to their interest rates during the week. There is now acceptance the other two will follow.
When Is An Approval Not
Where we can advise them – and always do – is that when they place a 10% deposit for that off-the-plan apartment and we obtain a “pre-approval” from a lender, it is quite possible that the same lender may not proceed with the loan in say 12-18 months time when construction has been completed.
Who Cares Wins
You can go online and find a mortgage right now. But what if you had a question? Hey, some online brokers also have a chat facility or even a call centre. Buying a complex product like a home loan on-line is fraught with dangerous consequences. I’m not talking about the wrong kind of loan, I’m talking about not getting a loan at all because you just weren’t sure which box to tick.
Top 10 Car Leasing Tips
After last week’s article about home loans some readers have asked for a similar exercise for car leasing. Here are our tips for getting a better deal.
Top 12 Home Loan Tips
Top 12 Home Loan Tips: Obviously, everyone’s financial circumstances are different but, this week, I thought I would compile a short list of the lessons our clients have learned and provide some tips.
Perpetual Financial Change
Perpetual Financial Change: If there’s one thing that has been constant in the financial world it’s been that of constant change. Not always for the better.
Why Borrow More When You Can Borrow Even More?
There is a worrying trend amongst some homeowners to use their family homes (usually their most significant – if not only – asset) like a large debit card.