Adam from Vista Financial

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy is continuing to grow, at a lower than average pace. Labour market conditions in the advanced economies have improved over the past year. Economic conditions in China have steadied, supported by growth in infrastructure and property construction, although medium-term risks to growth remain. Inflation remains below most central banks’ targets, although headline inflation rates have increased recently. Globally, the outlook for inflation is more balanced than it has been for some time. See full article here: http://www.rba.gov.au/media-releases/2016/mr-16-30.html Regards Adam

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy is continuing to grow, at a lower than average pace. Labour market conditions in the advanced economies have improved over the past year, but growth in global industrial production and trade remains subdued. Economic conditions in China have steadied recently, supported by growth in infrastructure and property construction, although medium-term risks to growth remain. Inflation remains below most central banks' targets. See full article here: http://www.rba.gov.au/media-releases/2016/mr-16-27.html Regards Adam

Hi all, *UPDATE* Please see below for most recent standout deals from our panel: Owner Occupier Variable Rate - 3.71% (no ongoing fee) Owner Occupier 2 and 3 year Fixed Rates - 3.64% (annual fee of $375) Investment 2 and 3 year Fixed Rates – 3.89% (annual fee of $375) 250,000 Velocity Points or $1,500 cash back with a new owner occupied home loan 3.75% 2 Year Fixed Rate and $1,500 refinance rebate for owner occupied loan (annual fee of $395) (Please note the above are not in conjunction with each other and will be subject to meeting the lenders terms and conditions). Please find below a useful link to a government calculator which can demonstrate potential savings from your current lender by simply inputting a few details. https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/mortgage-switching-calculator Regards Adam

A big 4 bank has today announced that it will reduce its loan to value ratios (LVR) for owner occupiers from 97% to 95% for borrowers including capped mortgage insurance (adding the insurance to the loan). This will come into effect as of 22 October 2016. This now means that only 1 of the big 4 banks will lend up to 97% and only under the condition that you are an existing lending customer with that bank. There are only a handful of samller lenders who will now consider a 97% loan. Regards Adam

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy is continuing to grow, at a lower than average pace. Labour market conditions in the advanced economies have improved over the past year, but growth in global industrial production and trade remains subdued. Actions by Chinese policymakers have been supporting growth, but the underlying pace of growth in China has been moderating. Inflation remains below most central banks' targets. See full article here: http://www.rba.gov.au/media-releases/2016/mr-16-26.html

Hi All *UPDATE* 1. 3.64% 2 and 3 Year Fixed Rate for eligible Owner Occupied Loans 2. No Lenders Mortgage Insurance up to 85% for eligible borrowers (Please note the above are not in conjunction with each other and will be subject to meeting the lenders terms and conditions). Regards Adam

As many experts predicted, board members have opted to hold the official cash rate at its record low of 1.50 per cent. In a unanimous result, all 38 economists and experts in the finder.com.au Reserve Bank survey tipped this outcome. Many of the experts cited soft inflation and a stubborn Australian dollar as the reason the RBA chose to hold the rate, explaining that the bank remains in ‘wait and see’ mode. Australian Associated Press chief economist Garry Shilson-Josling explained: “The RBA prefers to link its cash rate moves to quarterly CPI releases and the next is not until late October.” Many of the experts also believe that if the RBA is to make another cut this year, it will most likely be in later months. Raine & Horne executive chairman Angus Raine commented: “This time of year, it will probably drop before Christmas.” CoreLogic head of research Tim Lawless echoed this sentiment, adding that a November cut is likely particularly if inflation numbers remain low. “If inflation was, say, 1.0 per cent year-on-year, that’s a pretty good reason for another rate cut,” he told The Adviser. Mr Lawless also highlighted that the RBA’s rate cuts so far this year are not reducing the Australian dollar as hoped.“To reduce the Aussie dollar, we’re going to need to start seeing the US rates starting to rise. There’s a lot more talk about that now which may take some pressure off the RBA to cut rates,” Mr Lawless commented. “It’s a very fine line they’re walking at the moment: trying to stimulate the economy without overstimulating the housing market,” he added. “We’re already seeing interest rates creating a demand, so there is some risk that lower rates will continue to add some further fuel to the fire in Sydney and Melbourne, though I think other markets like Perth, Darwin and Brisbane could probably benefit from lower interest rates,” he said

Hi Tonyl, Thanks for the question. I have just seen on Poms in Oz that you have had a reply which seems to fit what you are looking for. Best of luck. Adam.

What is it? Basically refinancing is taking your existing mortgage to another bank or lender. Why do it? People have varying reasons for refinancing although the main one seems to be to get a better deal. Others are simply unhappy with their current bank. How much could I save? Let’s use a loan of $400,000 as an example with 25 years remaining. If the current interest rate was 4.5% your monthly repayments would be approximately $2,223. If this loan was refinanced to another lender with a rate of 3.75% (which is currently available) the monthly repayment would be approximately $2,057. That is a difference of $166 per month or $1,992 per year. Keep in mind also that extra $1,992 per year is making profit for your current lender. How do I refinance? Speaking to a broker would be a good first step. They can let you know if your current rate is competitive and if it will be worth refinancing. The best thing about it is a broker will usually not charge you a fee as the bank will pay the broker for their work. If refinancing looks to be a good option then the broker will do all the leg work. You will just need to provide the documents to the broker that the bank request (payslips, bank statements etc). Many lenders offer ‘Refinance Rebates’ where you could be reimbursed for your refinance costs. Generally we allow between $750 - $1,000 for refinance costs. Currently there are lenders offering rebates of $1,250 so this should more than cover any cost involved. We regularly perform ‘Mortgage Check Up’s’ for our clients and are happy to extend this offer to Poms in Adelaide members.

Hi all, *UPDATE* Please now see this post for up to date information. The below offers are the standouts from our panel of lenders currently. 1. 3.67% Variable Rate Loan for loans below 80% Lending to Value Ratio (this includes refinancing) 2. 3.69% 3 Year Fixed Rate 3. 3.75% 2 Year Fixed Rate and $1,500 refinance rebate for Owner Occupied Loan 4. 3.89% 3 Year Fixed Rate Investment Loan (Please note the above are not in conjunction with each other and will be subject to meeting the lenders terms and conditions).

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.50 per cent, effective 3 August 2016. The global economy is continuing to grow, at a lower than average pace. Several advanced economies have recorded improved conditions over the past year, but conditions have become more difficult for a number of emerging market economies. Actions by Chinese policymakers are supporting the near-term growth outlook, but the underlying pace of China's growth appears to be moderating. Commodity prices are above recent lows, but this follows very substantial declines over the past couple of years. Australia's terms of trade remain much lower than they had been in recent years. Financial markets have continued to function effectively. Funding costs for high-quality borrowers remain low and, globally, monetary policy remains remarkably accommodative. In Australia, recent data suggest that overall growth is continuing at a moderate pace, despite a very large decline in business investment. Other areas of domestic demand, as well as exports, have been expanding at a pace at or above trend. Labour market indicators continue to be somewhat mixed, but are consistent with a modest pace of expansion in employment in the near term. Recent data confirm that inflation remains quite low. Given very subdued growth in labour costs and very low cost pressures elsewhere in the world, this is expected to remain the case for some time. Low interest rates have been supporting domestic demand and the lower exchange rate since 2013 is helping the traded sector. Financial institutions are in a position to lend for worthwhile purposes. These factors are all assisting the economy to make the necessary economic adjustments, though an appreciating exchange rate could complicate this. Supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. The most recent information suggests that dwelling prices have been rising only moderately over the course of this year, with considerable supply of apartments scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Growth in lending for housing purposes has slowed a little this year. All this suggests that the likelihood of lower interest rates exacerbating risks in the housing market has diminished. Taking all these considerations into account, the Board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting.

Hi ILSA, Will send you a P.M Regards Adam

Thanks for the recommendation @MacLeods. It was a pleasure to work with you both and I hope you are enjoying your new home. Regards Adam

Hi all *UPDATE* 1. 3.99% 1 Year Fixed Rate Owner Occupied loan 2. 3.79% 3 Year Fixed Rate Owner Occupied loan (The above rates are subject to meeting the lenders terms and conditions) Please note all of the offers from previous posts are still valid. Regards Adam

At its meeting today, the Board decided to leave the cash rate unchanged at 1.75 per cent. The global economy is continuing to grow, at a lower than average pace. Several advanced economies have recorded improved conditions over the past year, but conditions have become more difficult for a number of emerging market economies. China's growth rate has moderated further, though recent actions by Chinese policymakers are supporting the near-term outlook. Commodity prices are above recent lows, but this follows very substantial declines over the past couple of years. Australia's terms of trade remain much lower than they had been in recent years. Financial markets have been volatile recently as investors have re-priced assets after the UK referendum. But most markets have continued to function effectively. Funding costs for high-quality borrowers remain low and, globally, monetary policy remains remarkably accommodative. Any effects of the referendum outcome on global economic activity remain to be seen and, outside the effects on the UK economy itself, may be hard to discern. In Australia, recent data suggest overall growth is continuing, despite a very large decline in business investment. Other areas of domestic demand, as well as exports, have been expanding at a pace at or above trend. Labour market indicators have been more mixed of late, but are consistent with a modest pace of expansion in employment in the near term. Inflation has been quite low. Given very subdued growth in labour costs and very low cost pressures elsewhere in the world, this is expected to remain the case for some time. Low interest rates have been supporting domestic demand and the lower exchange rate since 2013 is helping the traded sector. Financial institutions are in a position to lend and credit growth has been moderate. These factors are all assisting the economy to make the necessary economic adjustments, though an appreciating exchange rate could complicate this. Indications are that the effects of supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. Dwelling prices have risen again in many parts of the country over recent months. But considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Taking account of the available information, the Board judged that holding monetary policy steady would be prudent at this meeting. Over the period ahead, further information should allow the Board to refine its assessment of the outlook for growth and inflation and to make any adjustment to the stance of policy that may be appropriate.

Hi Fran, We always recommend a building and pest inspection. We have had clients pull out of a purchase a few times due to the results of the inspection. I will email you the name of a company that a lot of our clients have used. Regards Adam

Hi Fran, Have sent you a P.M Regards Adam

Hi all, *UPDATE* Medical, Legal and Financial Professionals may be eligible to borrow up to 90% of the value of a property without having to pay Lenders Mortgage Insurance. This can be a real money saver as most borrowers can only borrow up to 80% of the value of a property without incurring Lenders Mortgage Insurance. If you are not familiar with Lenders Mortgage Insurance the link below gives a little more detail. http://www.pomsinadelaide.com/forum/money-finance/47885-why-use-broker.html Please note all of the offers listed in the first post of this thread are still valid. Thanks.

Having a Pre-approval in place before making an offer on a property is a very popular method used by home buyers. When starting on the journey of buying a property there are many factors to consider. A major factor is affordability. Knowing how much you can offer for a property can greatly assist in your search. Having a pre-approval in place gives you a clear indication of what you can afford. The process of a pre-approval is much the same as applying for a full approval on a home loan. The lender will want to assess your full financial situation. The application will be assessed by the banks credit team and you will then be notified of the outcome of your application. If successful a pre-approval is generally then granted subject to a few conditions. Normally the conditions are a contract of sale and verification of your income at the time of submitting the application for a full approval. The benefits of having a pre-approval in place are: · Knowing your maximum loan capacity · Fast tracking the loan process once finding a property · Being a more attractive buyer to a vendor and estate agent · Having peace of mind that you are eligible for a mortgage A pre-approval is not a guarantee that finance will be approved. Personal situations can change between obtaining a pre-approval and having an offer accepted on a property. Therefore, we would always recommend making any offer subject to finance. Be wary of advertisements for a pre-approval in minutes. Usually these are indications that you may be eligible for a home loan but these are not fully assessed with a whole range of terms and conditions in the small print which when the time comes could render the approval essentially useless. The pre-approvals we put in place for our clients are fully assessed by a credit officer and then once approved gives peace of mind that besides finding a property the mortgage is in place and ready to go. This is subject to no major/financial changes as per the application and thus any offers made are still recommended to be made subject to finance. We are aware of people that have missed out on properties as they did not have a pre-approval in place. Hope this helps a little bit to explain the process of pre-approvals. Kind Regards Adam

Hi all. I thought I would start a thread updating the best home loan rates and offers with the lenders on our panel. Home loan interest rates are at an all-time low in Australia currently so there is a lot of competition for both new loans and refinance offers. I will try to update these fairly regularly, therefore please see the last post for the most up to date offers. Current standout offers from our panel of lenders are below: 1. 3.75% 2 Year Fixed Rate and $1,500 refinance rebate for owner occupied loan 2. 250,000 Velocity Points or $1,500 cash back with a new owner occupied home loan 3. 3.75% Variable Rate owner occupied loan 4. 3.99% 2 Year Fixed Rate for new investment loan (Please note the above are not in conjunction with each other and will be subject to meeting the lenders terms and conditions). Please feel free to contact me if you would like any further information.

Hi, I think the casino would be your best bet. Not sure of anywhere north of the city that would be showing it.

Hi Fran, Yes the First Home Owners Grant is still available for new builds up to a purchase price value of $575,000. You can check your eligibility here https://www.revenuesa.sa.gov.au/grants-and-concessions/first-home-owners As a permanent resident you would be eligible if you (or your partner if applicable) have never owned a property in Australia previously. Hope this helps:smile:

A big 4 bank has announced they will reduce their borrowings to eligible Australian temporary residents. Previously a temporary resident could borrow up to 80% of the value of the property which meant a 20% deposit was required. This particular lender has now announced that they will only lend up to a maximum of 70% to eligible temporary residents. This now means a 30% deposit will be required with this lender plus costs associated with the purchase of the property. There are other lenders who will still lend up to 80% to eligible temporary residents (90% in some circumstances). Also note that as a temporary resident FIRB approval is required which is an additional $5,000 see this link for more details http://www.pomsinoz.com/forum/money-finance/243972-temporary-residents-pay-5-000-buy-home.html

At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 per cent. Recent information suggests that the global economy is continuing to grow, though at a slightly lower pace than earlier expected. While several advanced economies have recorded improved growth over the past year, conditions have become more difficult for a number of emerging market economies. China's growth rate has continued to moderate. See full media release here: http://www.rba.gov.au/media-releases/2016/mr-16-08.html

No problem Kelbert:smile: Cheers