Why we love Suzie!

“I love being part of my clients’ journey and seeing their dreams realised.”

Suzie was recently interviewed about being a mortgage broker and about how white label loans are great for clients while also giving her extra ways to help streamline the loan process.

White Label loans are loans that are only offered through brokers.

The actual interview is here, if you’re in need of a short read!!!

 

What are the banks doing?

 

What on earth are the banks doing? Westpac (along with the other big banks) just increased their profits by $150 million dollars annually (what the ???) with their decision to increase interest rates on their variable rate, interest only loans by 0.34% and even with the reduction to principal and interest, variable rate, owner-occupied loans by 0.8%!!!

They seem to be constantly raising their interest rates out of the RBA cycle. The banks are claiming that it has to do with taxes placed on the them but why do borrowers need to wear this cost?

The Reserve Bank has held rates steady now for the past 11 months but throughout this period we have seen all the major banks asking for more money in repayments when the cost to them hasn’t changed proportionately.

In March this year Omkar Joshi a banking analyst doesn’t ‘buy the banks’ excuse that the rate rises are due to increased wholesale lending costs’ and today Paul Ryan a Sydney broker and financial literary advocate said ‘…it is too easy to blame a rise in the cost of funds or the extra demands from APRA (the banks regulatory body) as a reason to charge Australian borrowers more. The notion of increasing the rates for existing customers while still offering discounts and incentives to new customers is wrong.’

I’m suggesting that it might be time for a free review to look at smaller lenders.

Call anytime during business hours and we’ll set you up with an appointment.

Suzie Rankine

Save $20,000 on a new off-market townhouse.

Looking for a chance to save approx $20,000 on a Newtown townhouse? I’ve just heard about these 5 off-market townhouses at 430 Latrobe Tce. There are 4 x 2 bedroom and 1 x 3 bedroom.

You have an unique opportunity to buy in before the end of June. Yes, that’s next week!!!

The reason that this is so unique is that stamp duty will be calculated differently from July 1 2017. The end result is that you’ll pay stamp duty on the home amount not just the allocated land component as is current. You’ll have to move fast!

If you’re a first home buyer, you’d be in a better position to wait to sign any contracts until after July 1st to take advantage of the Victorian Governments financial incentives for First Home Buyers.

This saving would be around $20,000 if you were in a position to commit shortly.

Call or email Lachlan Castran on 0475 000 888 or lachlan@castran.com.au or call me if you’d like a loan position check. Call 5221 7234 during business hours or email me on suzie@diamondfinancegeelong.com.au.

Suzie Rankine

 

The cost of a new car sale will be more expensive after July 1st 2017

In the market for a new car, work vehicle or family SUV?

New cars purchased after July 2017 will incur an additional 1% in stamp duty. This increase will be the equivalent of a further $300 on a $30,000 car.

Victoria has had lowered stamp duty since 2007 as part of a Government initiative to support local car manufacturing but will come to an end next month following the collapse of both Ford and Toyota’s production lines here in Victoria.

Although there are a few political opinions as to why the manufacturing of new cars has decreased, it’s fair to say that support in this manner to encourage the purchase of new cars, is not longer needed.

Both new and used cars will now attract the same stamp duty requirement.

There’s only 10 days left before the end of June so call me if you would like a cheaper new car before it costs more!

 

 

 

The original news article is for subscribers only but can be found in various Budget 2017 articles.

Car Finance: SUVs the highest sellers in February

 

Vehicle sales although 7.7% down on last year showed an interesting turn; SUVs were the highest sellers, outpacing passenger cars for the first time in February 2017.

The Commonwealth Bank recently noted that customers are ‘spending, not splurging’ but with a ‘sustainable sales pace’ which has ‘matched the pace over the last 6 months and exceeds both the 5 year and decade average sales growth of 0.3% a month”.

This means that although there is cautionary approach from customers, they are still choosing vehicles which suit their needs.

The retail price of petrol also fell in the week prior to this report being released o an 8 week low of 128.7 cents per litre.

It’s getting close to the end of the financial year and if you own a business and need a car…call me!