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May 2009


Greenspan Home Loans

May 2009 Newsletter Website | Email | Forward to a Friend | Print


Hello,

With so much talk of a recession you might think thered be no good news stories to report, but surprisingly the Australian economy and property market are not all cause for despair.

In fact our economy is in better shape than most others in the developed world and there is hope the global crisis wont have the same bite here. That we havent gone down the path of our American counterparts has been largely thanks to Australias conservative lending standards, which – as our article 2 outlines – have just become even tougher.

On page three we look at the housing market and the growing opportunities it offers to both first home buyers and investors.

Our last article is a reminder of tax time approaching – have your receipts ready!

Enjoy this newsletter and feel free to pass it on to family and friends.

Omar and Ken
Directors
Greenspan Home Loans
Suite 1
26 Castlereagh Street
Liverpool NSW 2170

Tel: 1300 911 922
Fax: 1300 922 922
Economy Scores Top Marks
Lending Criteria Tightened
Housing Market Grows
Tax Time


Economy Scores Top Marks

It’s not just swimming and cricket that Australia does well at, it seems our economy scores top marks against the rest of the world.

According to the Reserve Bank, the Australian economy is in “better shape than most” and “will remain one of the better performing economies in the developed world”.

Read More >>


Lending Criteria Tightened

Last year you could take out a home loan without so much as a deposit. This year you need money in the bank and a good credit history at your disposal.

The financial crisis has seen mortgages with Loan-to-Valuation Ratios (LVRs) of 100 per cent withdrawn by banks and building societies across the developed world, with Australia more recently following suit.

Read More >>


Housing Market Grows

If there’s a good news story to come out of the gloom of a recession, it’s that Australia’s property market may no longer be under the hammer.

Record low interest rates and the First Home buyers boost have done their job in re-energising the market, with strong signs that people are once again confident about buying property.

Read More >>


Tax Time

With June 30 fast approaching, it pays to start getting your paperwork in order for tax time.

You might dread the prospect of sorting through old bank statements and boxes full of receipts but if you can achieve a decent tax refund then it is time well spent!

Read More >>

Mortgage & Finance Association of Australia

We are members of the MFAA, the peak industry body. All members are bound by a strict code of ethics to ensure the highest levels of service, integrity and professionalism.

It makes sense to call us

With all the uncertainty of interest rate rises and most of us questioning whether we get a good deal, it is more important now more than ever to review your current loan arrangements. With so many special available and banks tightening their lending policy it is worthwhile speaking with us first.

Call us NOW for details.

Don’t forget if you refer a friend to Greenspan we will contribute $250 towards your home loan and $100 towards the cost of theirs.

Regards

Omar and Ken

Disclaimer: This newsletter is intended to provide general news and information only. Readers should rely on their own enquiries before making any decisions regarding their own interests. Please do not rely on any part of this newsletter as a substitute for specific legal or financial advice. All material is copyright 2009.


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