Australian Mortgage Brokers | Morgtage Broker Australia MFAA Approved

admin — Wed, 07 Jul 2010 16:52:35 +0000

Australian Mortgage Brokers Greenspan on 1300 500 300 are an MFAA Approved Mortgage Broker in Australia provide financing for home loans, first home buyers, investment & business finance as well as competitive refinancing options with fast friendly service.

Loan Protection Plan

kenmartin — Wed, 26 Aug 2009 06:06:19 +0000

Protection for your mortgage.

Loan Protection Plan provides financial assistance in the event of death, terminal illness or any of 11 serious medical conditions. The benefit can be used for any purpose including paying off or reducing your loan balance.

3 Months FREE cover – Consider your needs.

A feature of Loan Protection Plan is the first 3 months of cover is absolutely free. In addition to the valuable cost saving, this means that you can apply now and carefully consider your need for this cover before ever having to pay any premiums.

You can of course cancel it at anytime within the 3 month free cover period and it will not cost you anything.

Simple to apply.

Once you have decided you want to protect your mortgage all you need to do is complete the short application form. It is a simple process that only takes 10 minutes and:

there are no medical examinations
you can obtain cover even where you have previously suffered from a serious illness or injury.
you can adjust your level of cover to suit your needs and budget.

Download the Short Form PDS here (LPP – SFPDS- NOV 2008).

ABOUT THIS SHORT FORM PRODUCT DISCLOSURE STATEMENT
This Short Form PDS provides you with information on the features of Loan Protection Plan and you should consider its contents carefully before deciding whether to apply. For further information you can obtain the full PDS for this product simply by contacting our Customer Service Centre.

The information in this document is current at the date of issue. You will be notified of any changes as required by consumer protection laws.

ALWAYS CONSIDER YOUR CIRCUMSTANCES
The information that we have provided in this document does not take into account your financial situation or your personal needs and objectives.

We recommend that before you make any decision about the product based solely on this information, you should consider whether the insurance is suitable to you and your individual circumstances.

If you are unsure, you should seek the assistance of an independent financial adviser.

Loan Protection Plan is issued by TOWER Australia Limited (ABN 70 050 109 450) (AFSL 237 848) of 80 Alfred Street, Milsons Point NSW 2061 and distributed by Australian Life Insurance Distribution Pty Ltd (AFSL 226 403) and its authorised representatives.

Commercial Finance

kenmartin — Tue, 25 Aug 2009 13:37:08 +0000

Our Commercial Loan features:

Commercial Loan
Term	20 years fully amortising P&I or 5 years interest only, converting to 15 years P & I
Interest	Variable or Fixed for 1, 2, 3, 4 & 5 years.
Repayments	P and I or Interest Only.
Maximum Loan	Full Doc up to $1.5M per security property $5M borrower/guarantor limit
Minimum Loan	$100,000
Max. loan LVR %	Full Doc up to 70%
Customer Type	Owner Occupiers or Investors. Clear Credit History.
Security	Registered 1st Mortgage Only. Non Specialised. Strata or Torrens Title Commercial, Industrial, Retail or Residential properties. Refer to Postcode Listing.
Debt Service Cover Ratio	Min of 1.5 times (excludes living expenses with interest rate based on actual rate). Capacity calculator supplied.
Annual review	No
Pay down/Redraw	Yes on Variable Rate transactions only
Split Loan	Yes maximum of 3
Internet Access	Yes
Supporting Documentation	Signed Application Form, Privacy Consent & 100 Point Checklist. Copy of contract if buying. Copy of lease or evidence of rental income and outgoings. Loan repayment history (12 months) if refinancing Commercial Capacity Calculator Evidence of Income (2 years financials, Tax returns)

Interest Rate Bulletin – May 2009

kenmartin — Tue, 26 May 2009 02:03:12 +0000

Interest Rate Bulletin

Website | Email | Forward to a Friend | Print

RBA Leaves Official Cash Rate Unchanged

At its meeting today the Board decided to leave the cash rate unchanged at 3.0 per cent.

Statement by Glenn Stevens, Governor Monetary Policy RBA

The global economy contracted further during the first few months of this year. While the near-term outlook remains weak, there are further signs of stabilisation in several countries. The Chinese economy in particular has picked up speed in recent months and many commodity prices have firmed a little. The considerable economic policy stimulus in train in most countries should help contain the downturn and support an eventual recovery.

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.

First Home Buyers

admin — Mon, 25 May 2009 02:02:43 +0000

In recent months lenders have put more requirements on first home buyers to have at least 3% of the property value saved over a period of 3 – 6 months. This can equate to approximately $10,500 on a property worth about $350,000. Whilst this puts a bit more pressure on first home buyers, it also helps in the long run to reduce the amount needed to complete the purchase of a property and thus saving interest on the life of the loan.

Getting Started

So how do you get started…

Step One: Research
If buying your first home feels a little scary, don’t worry. Do your research first and you’ll feel much more comfortable and avoid unnecessary mistakes. Check the property prices by location. You can do this by checking out the real estate sections in newspapers and magazines or even visit web-sites such as realestate.com.au and domain.com.au. Talk to real estate agents in the areas where you’d like to buy. Speak to friends and family who have bought property. Do not be afraid to ask questions! Maybe by going to open homes and auctions you will become familiar with the process.

Step 2: Your deposit and affordability.
Saving for your deposit is one way to prepare you to get into the routine of repaying a mortgage. Start to save as soon as you can and minimise drawing the savings to pay for consumer items. These days you need a minimum of 3% to get you going.

Aside from the purchase price of your new home, you may need to pay for things like stamp duty, legal fees and mortgage insurance. If you’re eligible for the First Home Owner’s Grant, you can use it to cover costs or add to your deposit. Stamp duty is the biggest expense after your mortgage and varies from state to state.

Once establishing how much the transaction will actually cost we need to work out how much you can afford to borrow. This is a quick process however may only give you an approximate amount as we need to verify your information with payslips and/or tax returns.

Step 3: The pre-approval process.
Once we have an idea of how much you can borrow, we recommend getting your finance sorted. We explain all the options you can get with home loans and we analyse your banking habits. By getting to know how your money moves, we can then recommend an appropriate strategy to pay off your loan as quick as you can.

We then recommend an appropriate lender who will also accommodate your personal situation as well as the features you need on your loan. From here we put together an application and, together with your supporting documents, will submit it to the lender for consideration. Once we have negotiated the approval, you can move onto the next step.

Step 4: Finding the right place.
Once you’ve found the home, just give us the real estate agents contact details and we can commence the financing process for you. You will also need to employ a solicitor to help ou buy the property. It is the solicitor’s role to make sure the property is not affected by anything you are unaware of, e.g. pests, government interventions etc. They will also protect your interests when dealing with the seller.

You will need some money here to put a deposit on the property. If you haven’t got access to your deposit because it is invested somewhere else or is tied up in another asset, we can arrange a deposit bond for you which will allow you to exchange contracts with the seller. This deposit bond will require you to hand over the deposit at the time of settlement.

Step 5: Signing the mortgage documents.
This is the part where you sign off on the mortgage and the loan contract. Your solicitor may want to review the documents and make sure you got exactly what you asked for, or at least thought you wanted. Once this stage is complete the lender will be ready to release the money to the seller (this is known as settlement).

Once the property has settled you will be given the keys ready to move in.

More information can be found in our free guide to buying a property which can be downloaded here (Your Home Buying Guide).

Newsletter – March 2009

admin — Fri, 15 May 2009 04:45:39 +0000

March 2009 Newsletter

Website | Email | Forward to a Friend | Print

Hello,

History is in the making as home loan rates are cut to record lows. Its an exciting time to be involved in home ownership, as we see the benefits it brings to buyers, investors and home owners alike.

We start the newsletter by looking at how low interest rates are expected to go, followed by an article on why refinancing your mortgage can save you thousands.

Our third article reviews property market trends and what this means for your prospects to buy or sell.

Lastly we look at the latest craze of online social networking: is it value or hype?

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

Rates: How Low Can They Go?

Refinance: You Could Save Thousands

Price Tags Count, Postcodes Don’t

Online Social Networking – Value or Hype?

Rates: How Low Can They Go?

The last time mortgage rates were this low we were buying bread for 14 cents a loaf, listening to Elvis Presley on record-players and watching black and white TV.

Official interest rates have dropped to an incredible 50-year low, bringing about massive reductions in fixed and variable home loan rates. For the homeowner with a mortgage of $300,000 on a 30 year loan, a one percentage point cut in interest rates equates to savings of $197 per month.

Refinance: You Could Save Thousands

This time last year we published an article on whether to refinance in the wake of rising interest rates. Today we re-visit this topic from the opposite side of the coin – whether to refinance in the wake of interest rates that are going down, rather than up!

It’s a reversal of fortune that has put the smile back on the face of home owners across Australia.

Price Tags Count, Postcodes Don’t

An exclusive postcode is no longer such an asset as property prices continue to drop at the top end of the market.

It is the wealth belt suburbs, where prices have risen strongly for the past four years, which are now the most affected by the economic downturn.

Online Social Networking – Value or Hype?

If you haven’t already joined a web site like MySpace or Facebook, chances are you will in the near future.

For some of us, it’s curiosity that draws us in, for others the chance to connect.

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

May 2009

admin — Fri, 15 May 2009 03:58:18 +0000

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”.

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.

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.

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!

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

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

Newsletters

admin — Fri, 15 May 2009 03:35:00 +0000

View our current newsletter here OR download the PDF Version (Greenspan January 2010 Newsletter).

Past Newsletters

November 2009 – (HTML Version) or (Greenspan November 2009 Newsletter)

September 2009 – (HTML Version) or (Greenspan September 2009 Newsletter)

July 2009 – (HTML VERSION) or (Greenspan July 2009 Newsletter)

May 2009 – (HTML Version) or (Greenspan Newsletter May-June 2009)

March 2009 – (HTML Version) OR (Newsletter March April 2009).

January 2009 – (HTML Version) OR (Newsletter January – February 2009).

November 2008 – (HTML Version) OR Newsletter November – December 2008).

September 2008 – (HTML Version) OR (Newsletter September – October 2008).

Interest Rate Bulletins

Interest Rate Bulletin – December 2009

Interest Rate Bulletin – November 2009

Interest Rate Bulletin – October 2009

Interest Rate Bulletin – September 2009

Interest Rate Bulletin – August 2009

Interest Rate Bulletin – July 2009

Interest Rate Bulletin – June 2009

Interest Rate Bulletin – May 2009

Interest Rate Bulletin – April 2009

Interest Rate Bulletin – March 2009

Interest Rate Bulletin – February 2009

Ken Martin

admin — Wed, 08 Oct 2008 12:07:45 +0000

Ken’s background in Banking and Finance ensures his clients benefit from his experience. Ken is an Associate of FINSIA and a member of the Mortgage and Finance Association of Australia. A recognised professional in his field, he has been nominated for The City of Liverpool Business Awards as well as the Australian Mortgage Awards.

Ken has been in finance for over 19 years, having worked his way up the financial ladder from Bank Teller to Bank Manager. Now as a Mortgage Manager his primary goal is to work for his client in finding them the most appropriate finance structure for their needs.

Omar Bahemia

admin — Wed, 08 Oct 2008 12:03:34 +0000

Omar is one of the founding directors of Greenspan.

He has been in banking and finance since 1989 and has extensive knowledge of lending. He is a qualified financial planner and mortgage broker and is full of tips for a successful mortgage application.

Omar is a well connected member of the mortgage industry and can source finance from many institutions including those that aren’t mainstream.

Australian Mortgage Brokers | Mortgage Broker Australia MFAA Approved

Australian Mortgage Brokers | Morgtage Broker Australia MFAA Approved

Loan Protection Plan

Protection for your mortgage.

3 Months FREE cover – Consider your needs.

Simple to apply.

Commercial Finance

Commercial Loan

Interest Rate Bulletin – May 2009

RBA Leaves Official Cash Rate Unchanged

At its meeting today the Board decided to leave the cash rate unchanged at 3.0 per cent.

First Home Buyers

Getting Started

Newsletter – March 2009

Rates: How Low Can They Go?

The last time mortgage rates were this low we were buying bread for 14 cents a loaf, listening to Elvis Presley on record-players and watching black and white TV.

Refinance: You Could Save Thousands

This time last year we published an article on whether to refinance in the wake of rising interest rates. Today we re-visit this topic from the opposite side of the coin – whether to refinance in the wake of interest rates that are going down, rather than up!

Price Tags Count, Postcodes Don’t

An exclusive postcode is no longer such an asset as property prices continue to drop at the top end of the market.

Online Social Networking – Value or Hype?

If you haven’t already joined a web site like MySpace or Facebook, chances are you will in the near future.

Mortgage & Finance Association of Australia

It makes sense to call us

May 2009

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.

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.

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.

Tax Time

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

Mortgage & Finance Association of Australia

It makes sense to call us

Newsletters

Ken Martin

Omar Bahemia