Easy Home Renovation For Profit » Finance

Lower interest rates for Fixed loans

Tim — Fri, 30 Sep 2011 04:59:24 +0000

In recent days, the home loan rates for fixed term three and five year loans have been reduced. The ING Bank, St George Bank, Westpac and Credit Union Australia have all cut their interest rates. This reflects the latest monthly fall of 100 points in the professional Futures Interest rates markets, as the world adjusts to a slower growth outlook. The St George Bank three year rate is now 6.39%, CUA 6.34%, ING 6.29%, Suncorp 6.29%, Citibank 6.29% Westpac 6.64%. Banks are making many less home loans, given the volume of home sales has fallen by between close to 60% for 2011, compared to 2010 and 2009.
The direct application websites, offer attractive rates direct over the Internet at U Bank, One Direct, Homepath, Westpac and the Commonwealth Bank, also have direct loan application websites. Direct application eliminates the margin of the Mortgage Broker, of close to 30 points. Recent cut in November of the cash rate from 4.75% to 4.5% and Futures markets indicate likely future falls in interest rates of 100 points over the coming 2012 year. The prospect of slower economy growth in Europe suggest interest rates will remain weak to falling, for lower levels in 2012.
Latest news from Europe indicates a slower economy in Italy, Greece and Spain.

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National Banks,U Bank,via easy home renovating

Tim — Mon, 23 May 2011 02:26:01 +0000

National Bank’s U bank, is offering Standard Variable loans, at 6.59% through its direct Internet application process. I have flagged this before. This development of the Internet application process shall lower the cost of banking, particularly for home loans. So while Westpac is offering loans at 7.86%, National has loans via the U bank has highly competitive loans at 6.59%. All the big banks have these direct Internet application loans, Commonwealth’s is Netbank, ANZ is ANZ Direct, Westpac is Westpac Online an RAMS. So while, some commentators see a fall in home prices, due in part to higher interest rates. I expect this will be partly offset by lower rates available from the direct application process over the Internet. Many expect interest rates will rise by close to 50 points over the year, while a direct loan application can save you 120 points. Given the recent slowing in retail sales the interest rises mooted, may well be abated.Westpac, are even saying interest rates will fall a whole 100 points over the coming year of 2012.Futures markets are heralding a fall in interest rates.

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More ways to build capital before Home renovating

Tim — Mon, 04 Apr 2011 01:07:52 +0000

Let me count the ways. All of these have been real life experiences for some of my pals.

1 Subdivide land for profit, as large blocks are usually worth more, once divided into several smaller blocks.
2 Buy in a temporarily depressed area, like a tourist town or beach area, at the end of a recession.
3 Buy a Master franchise for all of Australia, then subdivide it, to on sell, for each State.
4 Build your own family home, under an Owner Builders Certificate, as a DIY home builder.

Building a Kit home will save you heaps.
5 Build your family home, working as the Project Manager, coordinating the builders tradesmen.
6 Buy depressed Farmland, after a major long term commodity collapse.
7 Convert your Family home into a development of villa units.

8 Convert a Factory or Warehouse into New York style apartments.
9 Buy your Family home on a corner block and build a town house on the subdivided backyard.

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Second jobs, an income ideas

Tim — Sat, 02 Apr 2011 06:50:25 +0000

1 Review your friends and network for ideas, like group gardening, book keeping, cleaning, collecting cars wrecks for scrap, renovating sportcars fro collectors.
2 Try a second income, like vending machines, ATM machines or sell products at Sunday markets.
3 Write ebooks, reports or critics, for the world market to sell on the Internet.
4 Transfer your skills into Internet products, like DVDs, Youtube videos, or reports: in order to convert them to passive streams of income.

5 Build a business based on a growing Database via Facebook, Clickbank, Craigslist, backpage, lorque, Kuji, Gumtree or Ebay.
6 Trade shares,or options for profit. A lower risk strategy might be hold mutual funds.
7 Invest in high income, Industrial property, or Short stay apartments or car parks.

8 Joint venture with a Capital partner, by buying double block and earning via subdivision.
9 Consult clients as a business coach, an learn from your clients.
10 Use the Internet to buy and sell websites.
11 Find raw developmental or tumble down houses land for developers, and earn a finders fee. Over time you might learn thebusiness of development from your clients.

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Work,as a way to build Savings for your home Renovating.

Tim — Tue, 29 Mar 2011 06:20:58 +0000

Here, I note several ways many of my pals have designed their careers, to build the Initial capital to get into Home Renovating.
1 Work as a geologist to discover minerals, find $6Bn goldmine.
2 Work at a remote mine, where many living expenses and rent are paid by the company.
3 Work in Africa, for the U.S. government, thus most expenses are covered and at a reduced tax rate.
4 Put wife out to work, in a highly paid medical field.
5 Work for a major listed company, and take all bonuses an part salary, as cheap options for big tax advantages.
6 Work as a Financial Planner, thus studying all the best investments all day.
7 Work for a listed company, that gets taken over.

8 Work part-time as Fund Manger for the family wealth.
9 Work overseas in a low tax area, like Hong Kong or Africa.
10 Work as a tax agent, thus meet and learn from, the business people.
11 Work part-time as a local councillor, thus meet the business people, learn about the future growth of your suburb.
12 Work as a Property Manager and thus learn from investors.

13 Work as Building Property Management rights owner and find discounted units for sale.
14 Work at two jobs, not recommended,unless one builds capital.
15 Work in a capital gains protected area,building capital, like home builders.

16 Work at a big Mutual society an get takeover, by a listed company.

17 Work as a Mortgage Broker, an learn from your clients an deals all day long.
18 Work as a successful real estate agent and discuss deals all day!
I have drawn worked in six of these careers, others are my pals,so they are all real cases.

New Home Loan Products effect easy home renovating

Tim — Wed, 16 Mar 2011 00:28:47 +0000

News from the Australian Mortgage 2011 Conference, advises that the innovation in new home improvement loan products in Australia is poor. Given, there are long term loans, over 40 years, in Canada, USA, Japan and China which apply an intergenerational effect. While, Australian home loans are for the much short term like 25 years. Lisa Montgomery, from RESI, notes the poor affordability in Japan and China is assisted by Intergenerational loans. SCB Kelvin Lawrence, told the Conference that, compared to Asian Banks, there was no innovation in the Australian Banking sector. Of course, one can see this two ways, no improvement in easy home renovating loan products or great potential for new home renovation loan products.

I anticipate greater competition for home loans products into the future in Australia. the Bendigo Bank is noting an expectation for lower margins and better products from the banks. Bendigo has some innovative products like a shared loan, pitched for Home builder developers.
Currently, Banks are building up deposits as they move away from the securing loans from the volatile USA debt markets. I fully expect some innovation to be sought given the slower loan markets.

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Latest home Loan rules relaxed for home renovating

Tim — Sun, 13 Mar 2011 00:05:39 +0000

The local newspapers are reporting that ING Bank has announced an increase in the Loan to Valuation ratio, raising the ratio from 80% to 95% for home renovating loans. Thus opportunity knocks for the aggressive investor or home renovator. Given all the publicity surrounding the government approval of the big banks issuing “Covered Bonds’” being issued by the Australian banks. Covered bonds have been allowed to be 8% of Bank capital, a big increase. This will allow the Banks to borrow heaps more money to back the home renovation loan market. There should be more generous home renovation loan terms and conditions, including lower margins on interest rates.

In New Zealand, the home improvement loan rates have been cut to help rebuild Christchurch! Perhaps Australian government will take note, as to rebuild Queensland will cost many billions. In Japan, after the earthquake and Tsunami, credit has been eased. This must all benefit easy home renovating. Australia now has a slower home sales market, with less new building. This will lead to slower credit growth from the big banks, requiring an easing in credit limits.

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Overseas Investors in Australian property renovations

Tim — Sun, 20 Feb 2011 07:12:35 +0000

Colliers International, have collated some recent figures on these investors. They show that the prime overseas investors in Queensland, Australia, are Chinese, followed by South Africa,United Kingdom, New Zealand, Japan, Singapore an Russia. Well that’s quite a few overseas investors. I wonder why they find Australia, so attractive? Some prime reasons include a strong economy, high employment, strong migration figures, strong demand from tenants, generally a strong economy. Many home renovating buyers have an affinity for Australia, related to work requirements, visa requirements or students who have been studying in Australia. Or is it the free Libraries and cheap golf club fees? Home renovators can have confidence these buyers under pin the property market. there is a constant argument that Australian property is too dear, but one has to be careful to compare “like with like”. As overseas capitals like Tokyo, New York, London, Paris are much more expensive. There are heaps of local rules to do with historical features, council rules and regulations. Australian homes tend to be larger and have a considerable land component that is not available in Overseas capitals. Australian homes usually ahve more potential for improvement via, easy home renovating.

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Stamp Duty Relief in Victoria

Tim — Sat, 19 Feb 2011 23:52:07 +0000

The introduction of a $750M Stamp Duty relief package, in Victoria, for First Home buyers from 1st July, 2011 should prove popular. Initially, a cut of 20% on the Stamp Duty on a new home up to the value of $600,000 is proposed.
The Stamp Duty relief is to expand to a 30% cut by 1/01/2013 and then expand to 50% by 2014.
First Home buyers, might carefully weigh the future Stamp Duty concession{around $3,274 for a $400,00 home} against the likely rise in land values from the new State land tax increases being introduced from 1/07/2011. The Stamp duty relief expands each year, until 2014. I estimate the new land levies could add up to $7,000 to the cost of new land subdivisions. A carbon tax would add an extra $6,000 to the cost of a new home, thus the additional compounding cost is high. First home buyers have been holding off the market over the last year in anticipation of these Stamp Duty cuts. Builders have had to cut their prices and Banks shave their interest margins in response to this weaker demand. The number of first home buyers has fallen to half the prior year figures. reference, H.I.A.

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Re-Regulation of the Banks effect interest rates

Tim — Tue, 15 Feb 2011 10:52:25 +0000

Today, the AFR notes the re-regulation of the big banks will impose some costs. It is estimated to cost an extra one hundred points onto Home Loan interest rates. While, this is over an implementation phase in time, these costs are real and considerable. If imposed in a short time this would reduce economic growth. Fortunately, these will be implemented over five years. There are some countervailing efficiencies arriving as well.

Notably, the phasing in, of computer based self application forms: these should shave loan margins by at least 100 points.

The major differences between European and USA banking re-regulation are yet to be worked through. Australia is likely to mimic the UK model, where rising taxes an insurances for risk are the case. The Basle three, accords essentially set the framework for banking laws into the future.The U bank arm of the national bank has been publishing its home loan offer. So the public are learnig about these discount internet direct deals, but people still need help to get through the maze of forms.
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