Tag: australia

It is not easy to get involved in any of the developmental activities in the land of Australia. But the fact is that if you are a constructive individual and at the same time have something to give to the country where you plan to settle down or plan to do some development work then even the country like Australia that has some of the toughest laws for the immigration and the other similar purposes would love to have you as their citizen or would be too glad to have your contribution in there development work for the nation.

It is a well known fact that the brokers across the world do not enjoy a good reputation. They are considered as the people that are self-centered and only take into consideration the profits that they should be making from the deals that they get approved. It is only in the country of Australia that the people who work as brokers are respected a lot. The reason being that they are the ones that are responsible for the granting of the loans to the people who need it for various purposes. But that is not the be all and end all of it. The brokers in Australia are well respected across the continent because of the fact that they are not focused on the profits that they can make from the deals that they get done. Rather they are more focused on the satisfaction of their customer.

So whether it is the commercial loan brokers, the property loan brokers, the Mezzanine finance brokers or any other they would make sure that the people who are really in need of the loans of any kind should get one. Much more than that they would go the whole distance to make sure that their clients do not face any problems throughout the procedure. There are many factors that play a major role in the availing of the loans. The lending parties check for various things like the capability of the borrower to return the loan, the assets that the borrower can tender as mortgage, and many other factors. The lenders check for the mortgage giving capability of the borrower especially if he is seeking the loan for the Commercial Mortgages.

The brokers in Australia whether they are the commercial loan brokers or any other kind of brokers have a long list of lenders that they present to the borrowers. The borrowers then make their selection based on their requirements as well as their capabilities.

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Should someone fix their interest rate in loan if they are buying a house in Australia? That is the financial advice, Australia is asking for. The financial crisis of 2008 made many home owners steer away from fixed loans with only five percent home owners committing to fixing their home loans in 2009 and 2010. But afterward, the percentile increased slightly with eight percent customers fixing their loans by 2011. The number rose to double digits with thirteen percent customers fixing their home loans by 2012.

Before the big bang of 2008, fixing home loans was a common culture because customers used to fear that interest rates would climb too high for their reach and wanted certainty in financial matters. That culture changed with the 2008 melt down.

But those days are gone. As Australia’s fixed rates drop to an all time low, many customers are going for fixed rates in order to get the best and what seems like most reliable deal on the table.

Which type of loan is better for you?

Variable interest rate home loan is an interest rate that changes with the official cash rate of Australia. As official cash rate fluctuates with the international stock market, the interest on your loan would always be, indirectly, tethered to Reserve Bank of Australia. If the rate goes up, so does your loan and vice versa.

Fixed interest rate home loan- you pay a fixed amount of interest on your loan for a pre-decided span of time. So, for the first ten years, you will pay a fixed amount of interest no matter what goes on with the Official cash rate.

Analysis- It may sound like fixed rate is your best bet- well it’s the safest bet. Because even though it is safe and certain, it takes away a lot of margin for profit from the equation and get help from perth financial advisors. If the official cash rate goes down, so does the interest on your loan payment. So, if you are in a fixed interest rate and the cash rate goes really down for a considerable period of time- all your friends with variable interest rate will reap the benefits while you will pay the bank extra money.

Data collected by Australia’s Bureau of Statistics show that 17.4% Australians have fixed their loans up until this July, making this the highest number of fixed rate home loans registered in the past six years. This is due to the fact that three year fixed loans among four largest banks have come down from seven percent to four percent.

This is one of the most sensitive and significant financial advice western australia that will be needed in Australia. With these statistics, we will leave the decision to you. May you live long and prosper!