DPF Reminder for Gold Coast Property Owners …
TODAY is the LAST DAY to receive the discount for your GCCC Property Rates.
Why pay more than you need to ???
Would you like to negotiate a lower interest rate on your Home Loan but are unsure how to do this ???
Vernesa & Igor were not aware that the interest rate their Bank was charging on their Home Loan was significantly higher than the rate their Bank was advertising to “New Customers”.
The higher rate was discovered by their Mortgage Specialist during a recent telephone conversation to discuss their potential change in lending requirements.
The “GREAT NEWS” for Vernesa & Igor is they will now be saving “THOUSANDS” more of their hard earned $$$ as not only has their Bank has agreed to reduce their interest rate, but also their Home Loan structure has been adapted to suit their new circumstances & lending requirements.
Q) How much did this cost Vernesa & Igor ???
Q) Did Vernesa & Igor need to refinance their Home Loan with a new bank ???
Just another example of how borrowers can achieve great savings & outcomes when they team up with their “Personal” Mortgage Specialist.
Q) Is your Bank charging you too much for your Home Loan ???
A) If “YES” … Click on “CONTACT US” & let me know your preferred time to be contacted
or call (07) 5527 4744
Q) Is a Bank charging your friend or family member too much for their Home Loan ???
A) If “YES” … Click on “CONTACT US” & provide their names + contact details + preferred time to be contacted
or call (07) 5527 4744
The DPF Mortgage Specialists team absolutely love Christmas.
As a way of sharing the joy & celebrating this festive season with our clients we are giving away these 2 Christmas Hampers packed full of tasty goodies.
For your chance to receive one of these scrumptious DPF Christmas Hampers all you need to do is . . .
The lucky winners will be drawn & announced on Monday 18th December 2017 via email, Facebook & on this website www.mortgagebrokergoldcoast.com
Best of Luck and a very Merry Christmas to you all.
If you deposit all your savings into one or more Savings Accounts you will receive a nominal sum of interest from the Bank which is then taxed by the Australian Tax Office.
However … if you deposit your savings directly into your Home Loan or 100% Offset Account you will achieve a significantly higher return in interest savings which is NOT taxed by the ATO
Make your $$$ work smarter for you 🙂
(Important: Please contact your Mortgage Specialist or Bank to confirm you can make Additional Repayments to your Home Loan + Redraw prior to depositing any funds)
Thanks to all who joined in for a bit of fun with the DPF Mortgage Specialists Melbourne Cup Sweep.
The horses will soon be lining up for the “Race that Stops our Nation” & below are the lucky names who were drawn in this years sweep.
Good luck to you all & Giddy Up 🙂
DPF Mortgage Specialists
Melbourne Cup Sweep
|1. HARTNELL||Simon Hadfield|
|2. ALMANDIN||Tony Wilson|
|3. HUMIDOR||Kristie Brko|
|4. TIBERIAN||Jamie Freiberg|
|5. MARMELO||Belinda Chapman|
|6. RED CARDINAL||Stephanie Janz|
|7. JOHANNES VERMEER||Hamish Hooker|
|8. BONDI BEACH||Jamie Weinert|
|9. MAX DYNAMITE||Zoe Ross|
|10. VENTURA STORM||Sally Hall|
|12. WICKLOW BRAVE||Devon Jeffery|
|13. BIG DUKE||Vicki Saunders|
|14. US ARMY RANGER||Paul Horner|
|15. BOOM TIME||Jason Eggins|
|16. GALLANTE||Nola Griffin|
|17. LIBRAN||Aaron Swan|
|18. NAKEETA||Melissa Murdoch|
|19. SINGLE GAZE||Femia Di Battista|
|20. WALL OF FIRE||Jason McDonald|
|21. THOMAS HOBSON||Caleb Anderson|
|22. REKINDLING||Karen Scott|
|23. AMELIS’S||Daryn Trowbridge|
|24. CISMONTANE||Wayne Richardson|
Government announces mandatory credit regime
Source: Mortgage Business Publication (Author: James Mitchell) – 2 Nov 2017
The Turnbull government will introduce mandatory comprehensive credit reporting (CCR) from 1 July 2018 in what is anticipates will be a “game changer” for lenders and consumers.
Speaking in Melbourne this morning at the Fintech Australia Collab/Collide Summit, treasurer Scott Morrison said the government’s current target of 40 per cent data reporting by year end will not be met, as only a “negligible volume” of data is currently being reported in the existing voluntary comprehensive credit reporting scheme.
“Less than one percent of CCR data is currently being shared in public mode,” Mr Morrison said. “Which is why today I am announcing that the Turnbull Government will now be proceeding to introduce a mandatory comprehensive credit reporting regime from July 1 next year.”
The mandatory CCR regime will start with the four major banks, given that they provide over 80 per cent of mortgages to Australian borrowers.
Mr Morrison expects other credit providers will quickly follow suit to improve their competitive position in the market.
“The banks will be required to have 50 per cent of their credit data ready for reporting by 1 July 2018, increasing to 100 per cent a year later. This is a timetable the government believes is entirely achievable,” the treasurer said.
“We will consult further on whether to mandate additional institutions being included on a phased in basis as well as on the implementation mechanisms for this decision, including the legislation.
There is still a lot more work to be done, but that work now is about implementing this decision, rather than making it. We have reached and passed this important threshold.”
Mr Morrison believes CCR will be “a game changer for both consumers and lenders” and will lead to greater competition in lending provide better access to finance for Australian households and small businesses.
The regime will give lenders greater transparency on a borrower’s true credit position and their ability to pay a loan.
“This reduces a lender’s exposure to defaults by allowing it to calibrate its lending according to risk.
This new transparency will also open up the lending market to new players by enabling them to better assess the credit risk of customers,” Mr Morrison said.
“They will then be able to offer interest rates that undercut the major lenders without the fear of defaults weighing heavy on their decision making. Or give them the option of taking on-board more riskier customers at premium rates.”
For borrowers, CCR will lead to a better deal on mortgages, personal and business loans, Mr Morrison said.
“If you have a good credit history – you’re paying down your mortgage, you haven’t missed a payment on your car loan and your credit cards are under control – you will be able to demand a better deal on your interest rates, or shop around, armed with your data,” he said.
Borrowers with “one or two black marks” on their name will find it easier to get a loan under the new regime, provided their recent history of repayments is positive.
Free Melbourne Cup Sweep
The first Tuesday in November is only 2 weeks away and so it’s time to dust off your fascinators, feathery hats, colourful frocks & suits and prepare yourself for the Race that Stops a Nation, and of course the …
DPF Mortgage Specialists Melbourne Cup Sweep
This is our way of having a bit of fun with our clients and as always … YOUR ENTRY IS FREE !!!
To receive a ticket in the draw simply:
The horses will be drawn & announced on Monday 6th November 2017 via email, facebook & on our website www.mortgagebrokergoldcoast.com
Good luck & a special “Thank You” for your ongoing support & for being a valued client of DPF Mortgage Specialists.
Many also believe banks instruct Valuers to base their valuation amount on a “Fire Sale” scenario.
This is not actually the case as the Valuers are required by the banks to provide evidence of actual sales which have occurred within the previous 3 – 6 month period of similar properties within the suburb /proximity of the property(s) being valued.
If there is a difference between the final valuation amount & the comparative sales results, the Bank will contact the Valuer & request a “Please Explain”.
Please note that the “Sales Results” are based on actual sales that have been finalised rather than the “Asking Price” of properties yet to be sold. This is understandable as the final negotiated sales price is often lower (or higher on occasions) than the original asking price.
Senior Economists from Commsec (Commonwealth Bank Securities) are predicting that the Reserve Bank may retain the Official Cash Rate at the current record low level (1.50%) for up to 1 year as the Australian Economy is continuing to perform at levels that may not require any additional stimulus from the RBA.
This is great news for Home Owners & Buyers who can sleep easy without the fear of imminent rate rises.