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First Home Buyers get a helping hand from governments in Australia

Vicky Edema — Mon, 01 Dec 2008 00:00:00 +0100

A First Home Buyer is in the box seat with the Federal Government’s increase in the first home owners grant from $7000 to $14,000 (for a first home buyer purchasing an existing dwelling ) and to $21,000 (for a first home buyer buying a newly constructed property.)

In its November 2008 mini budget, the NSW State Government provided another “kicker” by making a further $3000 available as a grant to a first home buyer purchasing a newly constructed first home or unit. [...]

Best investment loan structure for those investors who also have personal debt

Vicky Edema — Mon, 01 Dec 2008 00:00:00 +0100

Most investors in Australia have a home loan. Most investors use the equity in their home property to help them on the road to wealth with their first investment property or share acquisition. In the past most investment loans were standard long term facilities with an initial interest only period of say 5 -10 years after which they converted to principal and interest. Most properties are negatively geared with investors using their personal income to subsidise the shortfall between interest on [...]

Debt consolidation can help you in tough times

Vicky Edema — Mon, 01 Dec 2008 00:00:00 +0100

In the current economic environment where people are concerned about their job security and often their high level of debt, then one option to immediately consider is debt consolidation. If you are in a secure job and managing your debt well then there is no need to consider debt consolidation because over the long term it often result in your paying more interest. Why is this? Basically, people wanting to look at debt consolidation are mainly driven by the need to improve their cash flow. One w [...]

Best investment loan structure for those investors who also have personal debt

Vicky Edema — Tue, 11 Nov 2008 00:00:00 +0100

The best investment loan will always include an interest only period as well as a capitalising line

Vicky Edema — Tue, 11 Nov 2008 00:00:00 +0100

As a general rule most property investors have already purchased a home over which they still have a home loan. This loan is on a principal and interest basis and most cif not all financial planners will advise you to pay of your home loan as quickly as possible because the interest you pay on it is not deductible. Quite often, property investors in the market for the first time, when looking for an investment loan simply go for an investment loan product that is much the same as their home loan [...]

A good time to be a first home buyer

Vicky Edema — Tue, 11 Nov 2008 00:00:00 +0100

If you are a first home buyer, who would have thought that some poor judgement or unscrupulous lending or both in the almighty USA would lead to a windfall for you as you plan your first home purchase here in Australia. As a potential first home buyer you stand to benefit significantly from the Federal Government’s recent changes to the First Home Owners Grant. As a result of these changes a first home buyer who purchases a new home will receive an additional “boost” of $14,000 [...]

A good time to consider debt consolidation

Vicky Edema — Tue, 11 Nov 2008 00:00:00 +0100

I was sitting watching the TV this week when a ad came on promoting a leading bank’s new credit card offering. It looked very attractive in that it offered a rate of less than 3% p.a. on your existing credit card balance when transferred through debt consolidation. With the global credit crisis upon us, credit card interest has increased significantly with many credit cards now charging 19% + for retail purchases and cash advances. That is very expensive money when compared with the rate o [...]

Debt consolidation � a good or bad move?

Vicky Edema — Thu, 30 Oct 2008 00:00:00 +0100

Many investors when they are considering the purchase of an investment property fail to ensure that the structure of any investment loan that they enter is correct, particularly for tax purposes. Borrowers simply approach their existing lender and ask for an investment loan. The lender invariably looks to their home loan and taken there is sufficient equity might suggest that the borrower increase that loan by the purchase price as opposed to restructuring it to separate the investment loan from [...]

Do not under estimate the importance of structure when negotiating your investment loan

Vicky Edema — Thu, 30 Oct 2008 00:00:00 +0100

What the best investment loan should offer you Part 2

Vicky Edema — Fri, 19 Sep 2008 00:00:00 +0100

As discussed in Part I there are many astute property and share investors in Australia who often fail to ensure that the investment loan they take offers the best available features and most tax efficient investment loan structure for them.

When considering an investment loan you should ensure that you maximise your investment loan and that the interest rate is competitive (but not necessarily the cheapest – do not sacrifice features for interest rate); you should take the inve [...]

Guide to Debt Consolidation

Michelle Kour — Tue, 12 Aug 2008 00:00:00 +0100

Australia’s borrowing at an all-time high, with each member of the population having an average debt of around $50,000 – twice the level of five years ago. Thankfully, total personal assets have also risen, drawn up by substantial rises in house prices, superannuation and the share market.

Nevertheless, with ever-increasing levels of household debt it's no wonder that debt consolidation personal loans are gaining popularity. If you do find yourself in the unenviable p [...]

Drowning in Debt! Why not think about debt consolidation?

Michelle Kour — Tue, 12 Aug 2008 00:00:00 +0100

A few years back prior to buying my first home, I bought my first car and also at around the same time applied for my first credit card. Whilst this was my only alternative at the time due to a lack of savings, it wasn’t such a big deal as it was my only financial commitment. Things have now changed and with the rising home loan interest rates, I have suddenly found my overall level of monthly repayment commitment on all my debt is causing a problem with my cash flow. So who did I turn to? [...]

DEBT CONSOLIDATION IN AUSTRALIA

Michelle Kour — Tue, 12 Aug 2008 00:00:00 +0100

With ever-increasing levels of household debt it's no wonder that debt consolidations are gaining popularity. Debt consolidation is a real option for most borrowers regardless of their circumstances in that interest rates on personal loans, car leases or other unsecured debt is always higher that that payable on a mortgage secured over real estate. Most borrowers however only consider debt consolidation when there is some concern over cash flow. If you do find yourself in the position of nee [...]