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Out and About: November 2011 - Re Badge

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Out and About: November 2011 - Re Badge

November 2011, change is my topic this month. On October 12, 2011 Refund Home Loans Pty Ltd entered Voluntary Administration so after three and half years I have left Refund and formed a Territory based business, Arafura Finance Brokers. Much will remain the same as Refund had very little foot print in the Territory.

Arafura Finance Brokers (Arafin) offer home loans with over twenty five lenders, investment property being our specialty. That being said we also look after first home buyers, clients with poor credit ratings. Arafin can supply car, boat and motorcycle loans, personal loans, business loans and insurance.

Valuations

We attended a talk from a Darwin based valuer last week and sadly he confirmed the obvious, over the last twelve months that have been few properties in the Territory that have managed to forge ahead in price. The cheerful note to the presentation was that sales are up over the last two months, by this they mean the number of properties changing hands has increased.

There were three cranes on the skyline in Darwin over the weekend which indicates that a couple of buildings are getting up and out of the ground. We can expect to see a supply of two bedroom moderately priced units (for Darwin) coming onto the market over the next six months or so.

Word has it that Barack Obama is going to announce an increased US Military presence in the Territory when he drops by for a visit in the middle of November, certainly small business is hurting and a time line for increased infrastructure spending in the NT would be good thing for our politicians to focus on.

Refinance

Interest rates

As usual a tough call, but it has been a year of no change and perhaps this Melbourne Cup day will see a drop in official interest rates. Lenders are competing fiercely in the interest rates area, particularly fixed rates are dropping, so if you are considering looking into saving money on a mortgage please let me know. It may even be your current lender has a deal designed to keep you as a client. At Arafin we advise for no cost and if the best option is to stay with your lender we will be the first to tell you so.
Refinance

Conditions in global financial markets have continued to be very unsettled, with uncertainty increasing about both the prospects for resolution of the sovereign debt and banking problems in Europe, and the outlook for global economic growth.

It will take more time for evidence of any effects of the recent European and US financial turbulence on economic activity in other regions to emerge. Thus far, indications are that economic activity is continuing to expand in China and most of Asia. Nonetheless, recent events have led forecasters to reduce their estimates for global GDP growth, which is now expected to be about average this year and next.

Creating Wealth Through Property

Found the perfect investment property but aren’t sure if you can afford it? Arafin can help. We understand that the needs of property investors are different to those of owner-occupiers.

Borrow up to 95% of the purchase price (or valuation if lower).

Some lenders will consider rental income and negative gearing benefits when assessing how much you can afford to borrow.

Up to 10 years interest only repayments, increasing your potential to tax-deduct the entire repayment for longer, and minimising your monthly commitment.

Everyone's situation is different so if you would like a no cost home visit please let us know.

 LVR

For more information or if you would like to meet to discuss any aspect of your financial situation please call me on 0447 499 794 or email nickkirlew@arafin.com.au.

Regards,

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DISCLAIMER: For Information Only, otherwise there is no disclaimer, please feel free to send to a friend. For a full assessment contact your Arafin Territory Manager on 0447 499 794.

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