Wednesday, October 17, 2012

Housing Affordabilty - Best in a decade

Probably a good indication of how expensive Housing Affordability has been over the last decade. This article shows that house ownership is cheaper now than it has been for a decade.

An Article from The Adviser

Housing Affordabilty - Best in a decade

A spate of interest rate cuts over the last 12 months has helped housing affordability to reach its best levels since the first half of the last decade.

According to the Australian Housing Outlook report, housing affordability has improved across almost every capital city over the last 12 months.

“Outside of 2009 when interest rates were at 40 year lows, housing affordability in Sydney is at its best level since 2001, despite being the least affordable capital city,” the report read.

“Similarly, affordability in Brisbane is at its best level since 2003, and Adelaide and Perth are at their most affordable since 2004.”

The report said the combination of a fall in median house prices, coupled with a 95 basis point reduction in the standard variable interest rate over 2011/12, has seen housing affordability improve across all cities.

And while affordability has already improved significantly over the last 12 months, BIS Shrapnel’s Robert Mellor told media in Sydney yesterday that he expects further improvement in housing affordability over the coming year as the average standard variable rate is expected to fall another 40 basis points in 2012/13.

As per the report, homes in Sydney were considered to be the “least affordable” of all the capital cities, while Canberra was considered to have the “most affordable properties” when monthly mortgage repayments and the average income are taken into account.
Mortgages - Leasing - Conveyancing - Insurance - Wealth

Sunday, October 14, 2012

ANZ cuts rates by 0.20%

ANZ recently cut is variable rate by 20 basis points , becoming the last major to pass on the RBA's cut.

The bank announced it will reduce its standard variable rates by 20bps effective next Friday. The move takes the bank's variable rate to 6.60%, the same as CBA and lower than Westpac's 6.71%, but higher than NAB's 6.58%.

ANZ Australia CEO Philip Chronican stated
“While this increase in competition is benefiting the majority of our customers through historically high deposit rates relative to the cash rate, last week’s decision from the RBA has provided some scope to once again reduce our variable lending rates,” he said.

Major Banks Standard Variable Rates
ANZ - 6.60%
CBA - 6.60%
NAB - 6.58%
WBC - 6.69%

But remember the Standard Variable is half of the story.
The real story is:
   1. What discount can you get - ie the Actual Rate you pay
   2. What are the other Fees
   3. What features will the loan have

Give Premium Broker a call - We make finance easy

PremiumBroker - making finance easy

Sunday, September 23, 2012

iPhone App - as seen on TV

iPhone App - My Mortgage Kit as seen on the Today Program

The Vow Financial iPhone App
My Mortgage Kit

My Mortgage Kit was featured and demonstrated on The Today Show this morning in the "Best Property Apps" section. We have also received good reviews in the Sydney Morning Herald!

Today Video - Click Here

Top free apps to save you time and money - SMH 

Download the app here in iTunes

Tuesday, September 18, 2012

Premium Broker - A new name for Equitimax


A new name for Equitimax Pty Ltd.

We are the same old people 
with a slightly new look.

Why have we changed our name?
PremiumBroker better describes what we do.  We are Mortgage Brokers providing loans for over $100,000,000's of client loans in the past few year's.  

Over the years we have added some new products and services.  We are more than just mortgages.  We have been working closely with our Aggregatore Vow Financial Pty Limited and a few our good business friends.

PremiumBroker therefore can assist you with:
  • Mortgages
  • Equipment Finance & Leasing - Darren Goodman
  • Conveyancing
  • Financial Planning
  • General Insurance
  • Investment Property buying service
  • Accounting - through our friends at Hudson Financial 
You really dont need to go anywhere else.

Sunday, September 9, 2012

Sydney prices will continue to grow: RP Data

Sydney prices will continue to grow: RP Data

An Article from The Adviser's Jessica Darnbrough
10th September 2012

The Sydney property market has been labelled the one to watch by RP Data.

Speaking to The Adviser, RP Data’s Cameron Kusher said Sydney will always perform strongly thanks to the supply issue and growing population. “Sydney will continue to be one of the better performers. There are many reasons for this. The first reason is that Sydney has not performed to the same level as some other  capital cities over the past 10 years. As such, the capital city has plenty of room to make up,” he said.
“When you adjust for inflation, property prices Sydney are still 7 per cent below their peak in 2003 and  2004. If you team that with the fact that there is still population growth in the capital city and an undersupply of properties, the market is well positioned for the future.” According to the latest RP Data-Rismark Hedonic Home Value Index , the median property price in Sydney is currently $530,000 – 1.1 per cent lower than this time last year.

That said, values look to be steadily increasing once again, with the Index showing prices had grown by 0.1 per cent over the last month. 

Tuesday, August 28, 2012

Fixed Rates - Is now the time?

I thought you might be interested in, and possibly benefit from, this latest news.

Over the past few weeks almost 50 lenders have slashed their fixed rates - bringing the  average fixed rate down to the lowest it's been  in over 3 years!

If you've ever considered fixing all or part of  your loans, now could be the time to discuss the fixed rate options available to you.

No-one has a crystal ball when it comes to  interest rates, but if the idea of having your loan repayments set in stone for the next few years is comforting, we should talk.

Having a fixed rate can also help you budget and plan your cash-flow, because you're not  exposed to interest rate rises. Of course you don't benefit from interest rate cuts, but some  people do prefer certainty over savings.

Alternatively we are currently seeing some bigger discounts - maybe we can negotiate a better variable rate for you.

If you'd like us to investigate your financial situation, with no obligation of course, simply reply to this email now or give Equitimax a call on 02 9411 5322
I hope you are well and I look forward to talking  with you soon.


Robert Ward & John McLennan


P.S. If you have a friend or family member  who might benefit from this latest news,  please forward this link to them and I'd be happy to help them too.


Tuesday, July 24, 2012

Recommend Premium Broker

Recommend Us

We are always extremely grateful to receive recommendation from happy clients.
Thank you for recommending us to your friends, colleagues and family.

Having trouble seeing this page or you would like to refer someone to us - Click here

Thursday, July 19, 2012

Misconceptions of Brokers

An article by
Caroline Dann of BrokerNews

20/07/2012 7:30:00 AM



Consumers' Misconceptions of Brokers

Consumers believe going direct to the bank will secure a better deal, according to new research.
A Loan Market survey of brokers found the two biggest misconceptions:

1. that a direct-to-bank approach results in a cheaper loan.

2. that broker services came at a cost.

Loan Market spokesperson Paul Smith said it was crucial consumers know the value of using brokers, not only to secure a good deal but to utilise their experience in the market.
“The reality is that a mortgage broker can negotiate your needs between several lenders and uncover discounts not available to those shopping on their own,” he said.
However, new research shows nearly 50% of home loans are written through mortgage brokers, showing a shift in attitudes of lenders.
“The banks and lenders are moving to recognise mortgage brokers as a preferred distribution network for mortgages because of the number of customers using them and the fact there are no fixed costs associated with brokers such as a branch facility,” he said.

My personal experience:
I recently went into a major bank to get my Corporate Credit Card changed to a Business Credit Card.  I thought it was quite a simple thing to do . . . . .just needed the product switched.

I was served by a branch loans processor who had
  • No idea what they were doing,
  • Limited English skills and
  • No experience in business lending
It got so bad I literally had to spell out business terms such as "depreciation"  and "addbacks". 
After the loan was declined. I did not even realise I was makeing a formal application, nor did I sign anything including a mandatory privacy form.

I was advised I would need to speak to a business lender.  It took me 2 weeks to arrange a meeting with the Business Specialist. She seemed a little more knowledgable and was then told they will speak to someone and get back to me in 2 days. That was over 3 months ago, and although I have left emails and phone calls and I still waiting for some help  . . .  .

1. Why did I go into a Branch?
2. Why would you?

Tuesday, July 10, 2012

Newsletter - July 2012

Equitimax Pty Ltd


July 2012

Please find your Jul/ August newsletter below. If you have any questions or changes please email
There is a lot of media hype about out-of-cycle interest rate movements but little in the way of explanation. We have fielded many questions from clients about why lenders are moving their interest rates out of cycle with the RBA and what it means for home owners.
Our page two article attempts to answer these questions by explaining the case for both sides of the argument. To understand more about this topic, your mortgage broker is always a good person to turn to for reliable unbiased advice.
In this issue we also look at how to build equity in your home loan quickly - page 3 - and the changing face of the Aussie household - below. Our page 4 article explores the topic of empathy and how important it is for effective relationships and communication.
Kind Regards,

Robert Ward & John McLennan
Directors - Equitimax Pty Ltd

Robert Ward & John McLennan
Equitimax Pty Ltd
PO Box 929
Chatswood NSW2057

Tel: 02 9411 5322
Mob: 0417 448 691
Fax: 02 9411 5200

In This Issue

1. A Typical Home In Profile

2. Out-Of-Cycle Rate Hikes

3. Book Review

4. Useful Tips When Purchasing A Property

5. Finding Empathy

Links and Other Options

Forward to a friend.
Send me an email.

View our website.
View contact details.

Follow on Twitter.
Add to Facebook

A Typical Home In Profile
The stereotypical Aussie family home made up of mum, dad and a couple of kids is on the wane, as couples without children fast become the family norm.
As our population ages and baby boomers become 'empty nesters', it is predicted that couples without children will increase the fastest of all family types, making up 43% of all families by 2031.
Other big changes include a massive increase in the number of Australians living alone - again largely a result of an ageing population. This type of household is expected to increase by up to 91% over the next 25 years, representing the fastest growing household type over the period 2006 to 2031.
The number of people in our households will continue to decline until it reaches an average of between 2.4 and 2.5 by 2031. By 2016 Australia's household size is projected to be the same as Japan and New Zealand and larger than England (2.2) and Scotland (2.1).
Although there will be fewer people per house, the number of households continues to rise. Estimates place the number of Australian households at over 11 million by 2031, an increase of 4 million households since 2006. Over the same period, Australia's population is projected to increase by 39% to 28.8 million people.
So what picture does this paint for property investors? It shows there will be plenty of demand for property into the future but it will pay to keep an eye on projected demographics when planning your next property purchase.

Out-Of-Cycle Rate Hikes
There's a very public stoush going on between the banks and the politicians about out-of-cycle rate rises.
While each side argues its case, consumers are left confused about whether they are getting a raw deal.
Since the RBA began cutting interest rates by 125 basis points from last November, there has been a shift in the tradition of lenders moving their rates in line with the RBA. Lenders have instead chosen in many cases to withhold part of each reduction and to make their rate announcements up to two weeks after the RBA's first-Tuesday-of-the-month announcement.
We have lately fielded many questions from confused clients, asking 'who is driving rates', 'am I being ripped off', 'why are out-of-cycle rates rises happening'?
Here we'll take a look at both sides of the argument and what it means for you as a mortgage holder.
The government argues ...
The banks are protecting their profits at the expense of consumers. We've all heard Treasurer Wayne Swan's very public criticism of the banks for moving out of cycle with the RBA. He has suggested they have a responsibility to match the RBA's rate cuts and their 'high returns' give them the profitability to be able to do so.
The banks argue ...
They have always been independent of the RBA when setting their interest rates and they are under no obligation to follow the Reserve Bank.
Their profit margins have been hurt by an increase in 'funding costs' (the amount of interest cost paid by a financial institution for the money they have acquired from various sources), largely as a result of Europe's debt problem and they have a duty to shareholders to adjust rates based on these pressures.
The Australian Bankers Association has warned that lenders can't follow the Reserve Bank's cash rate moves without risking the stability of Australia's financial system. "The risk is that if international investors become concerned that the banks in Australia are politically constrained from managing their higher costs, they will perceive us as riskier and they will reflect this in what they charge for the money we raise, adding further funding cost pressures on the banks, and ultimately, customers."
We say...
If you feel unhappy with the rate movement your lender has made, give us a call to find out if there is a better alternative out there for you. When you come to us you can be sure we will help you find the best deal, answer your questions honestly and provide clear unbiased advice.

Book Review
A young woman walks into a laboratory. Over the past two years, she has transformed almost every aspect of her life. She has quit smoking, run a marathon, and been promoted at work. The patterns inside her brain, neurologists discover, have fundamentally changed.

Marketers at Procter & Gamble study videos of people making their beds. They are desperately trying to figure out how to sell a new product called Febreze, on track to be one of the biggest flops in company history. Suddenly, one of them detects a nearly imperceptible pattern--and with a slight shift in advertising, Febreze goes on to earn a billion dollars a year.

An untested CEO takes over one of the largest companies in America. His first order of business is attacking a single pattern among his employees--how they approach worker safety--and soon the firm, Alcoa, becomes the top performer in the Dow Jones

Useful Tips When Purchasing A Property
How to build equity in your home quickly
Every home owner has the chance to build equity in their home over time, but here's how to speed up the process.
Equity is the difference between the market value of your property and the amount you still owe on your loan. The quicker you build equity, the earlier the opportunity to invest further, expand your portfolio and build your wealth.
Buy at a good price
At the start of your investing career, it doesn't hurt to knock $25-50k off an average priced home. Paying a lower price not only saves money up front, but also long term through reduced interest payments.
Mastering the art of negotiation is your best bet for knocking down the purchase price. Start by doing your sums and knowing your limit, but never let on to the seller what your top price is. Place a time limit on your offer and tempt the seller with something like a quick sale. Stay calm during the process; keep a clear mind and a cool heart.
Buy in an up-and-coming area
Look to buy your property in areas that market demographics show are just about to boom or that will soon receive new infrastructure or an injection of new business. It can take time to put in the research but the payoff is you will be able to buy a property for a reasonable price and it won't be long before its value starts to rise.
Buy a property that can be improved
Renovation can increase the value of a property but be aware that it takes time, money and experience. For those would-be-investors not able to make this kind of commitment, the alternative is to buy a property that only needs a bit of cosmetic work. Freshening up the exterior, a lick of paint, new storage areas or a simple bathroom/kitchen tidy up will cost less and can significantly improve property value.
Pay your loan off sooner
Aim to make your initial down-payment at the time of purchase as high as possible. Then look for ways to repay your home loan early: increase the regularity of your repayments, make larger repayments and make lump sum repayments (ensure your loan has the flexibility to allow this without penalty). Another option is to use the interest offset accounts that come with many loans - these reduce the amount of interest that is charged by offsetting your savings to the value of your loan.
As your mortgage broker we are happy to guide you through various strategies for building equity in your home loan.

Finding Empathy
Despite the common adage 'never judge a man until you have walked a mile in his moccasins', many of us are too quick to judge others without considering the full picture.
How long since you have given someone the benefit of the doubt rather than forming a quick judgement? How long since you stopped to take in someone else's perspective? If your answer was 'today', then congratulations, it means you have what it takes to be empathetic - to place yourself in the shoes of another person and be able to identify and understand their situation.
It has been said that a common characteristic of people who are successful as business leaders, teachers, parents, spouses and healthcare professionals is their ability to be empathetic. By gaining an insight into what others are feeling and thinking, they are able to create bonds of trust. They are also able to understand how or why others are reacting to a situation and use this to inform their decisions.
Empathy is sometimes wrongly confused with being too soft, giving in or not being assertive. You can be empathetic and yet disagree with another person - it simply means you are in tune with what they are going through and respond in a manner that acknowledges their thoughts, feelings or concerns.
How to develop empathy
You can strengthen your ability to emphasise by learning to listen attentively and ask questions.
To listen attentively means putting your complete focus on that person without getting distracted. For example, if you're doing chores and your child wants to tell you something, stop what you're doing and turn to your child. If you need a few minutes to finish that task or email before comfortably being interrupted by an employee, then let the person know that.
To be curious; to ask questions is to learn what the person is feeling and to gain a clearer understanding of the full picture. It also demonstrates you want to know more and you care about what they have to say.

Interested in investing, debt consolitation or just want to discuss your situation? Click here.
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 2012.

Click here if you would like to unsubscribe from future newsletters.