Australian Mortgage and Loan Information

Opportunity is a funny word. The Websters dictionary definition is: 1 : “a favourable juncture of circumstances 2 : a good chance for advancement or progress.“ The current credit crisis I believe offers itself to both definitions. So for property investors the credit crisis means: “opportunity”.

There are several property investment opportunities currently presenting, in a few months there will be a dozen or so. You don’t need to rush out and slam a deposit down on just any piece of land. The opportunities I talk of will be available over the next five to seven years and will make a lot of thinking mums, average blokes and generation y kids wealthy.

The first step any of us need to take is to decide to be wealthy. Property will just be the means. Once you decide to be wealthy, get yourself a hard bound personal journal and write down in your own handwriting, the type of home, income and lifestyle you want to be enjoying in ten years. Date your entry and hold your image in your head. Every two months or so review what you have written, edit your entry if you want, but create and hold the image in your head.

The first opportunity presenting is that of property development. With many people in a panic about the their future, some very good property, with excellent development potential, is becoming liquid and available for the first time in two decades. Remember, property development does not necessarily mean building or construction. Property developement is really about increasing the value of your property purchase by any means available and managing your mortgages!

More about property development in my next post. In the mean time contact your mortgage broker and find out what your lender is doing about reducing your mortgage rate. Historical interest rates reveal a lot about the opportunities coming our way.

Australian Home Loan, mortgage, mortgage broker, mortgage checker, risk management and Real Estate Tips

Most Internet information on home loans, mortgages and real estate in Australia is presented by major banks, other lenders and realtors who are naturally biased in their viewpoint.

This blog and the loansense website attempt to produce a more balanced point of view based on personal experience in buying and selling property in Australia and my work as a tax agent and previously as a financial planner and mortgage broker.

The loansense website details the types of finance available from construction home loans, debt consolidation refinance mortgages, equity finance mortgages, low doc/no doc mortgages to line of credit home loans and the advantages and disadvantages of each – something the lenders are not always up-front about. It also provides detailed information regarding home loan mortage interest rates including the historical rates for the last 50 years.

The web page on Mortgage Checking Software is something the Banks in Australia don’t want you to find out about, as they dislike handing out large refunds once their mistakes are picked up.

There are also other Australian home loan, mortgage, realestate, property investment resources listed that assist borrowers in making informed choices and decisions. The book section in particular is highly recommended as is the mortgage calculators page.

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Being forewarned is forearmed, particularly for first home buyers. Use the information on this blog and the loan sense website to obtain a home loan or buy real estate smarter and more efficiently, while saving money and reducing the chance of costly mistakes.