Buying off-the-plan real estate is often pitched by marketers as a “win win investment” But, how safe is buying property sight unseen? Leading Melbourne Mortgage Broker What If We Finance provide some advice below for you to consider.

Certainly people have made great returns buying real estate before it is completed. Some have on-sold their properties at a good profit before ever having to settle, but these are usually more exclusive properties close to major cities, where demand is strong.

There have also been many instances of people paying far more for an off-the-plan property at settlement than they could hope to attain in the prevailing market. Melbourne Docklands apartments, where oversupply drove down prices, are a prime example of where this happened.

Buying off the plan is undoubtedly a leap of faith and the dangers are twofold.

First you have to believe that the property you can only see on a plan will eventuate exactly as specified within a certain time. If, like most of us, you do not find it easy to envisage exactly what you will get, it’s probably worth getting help from an expert. Even if there is a display suite, it may not be truly representative of the finished product.

One service you could consider is from a building inspection service such as Archicentre, the building advisory service of the Royal Australian Institute of Architects, which provides advice on plans. These reports include things like an opinion on whether the rooms are of a reasonable size, the quality of the fixtures and fittings and the layout.

When building is completed, before you fork out your money to settle, Archicentre can conduct a practical completion inspection, including checks of the area of the building against the plans, confirmation that the promised fixtures and fittings have been included, and comments on the overall standard of the building.

Other precautions you should take include as advised by Melbourne Mortgage Broker What If We Finance include:

* Only buy from developers with a good reputation and whose work you can see.

* Make sure every detail is specified in the contract, including fixtures and fittings — for example, not just a stainless steel oven, but a particular brand and model.

* The second major pitfall relates to price. It’s difficult to establish whether the asking price is fair when there are no benchmarks. “Buy tomorrow’s real estate at today’s prices” is the spiel of the marketers. That assumes property prices always rise, which of course is not the case. For example, if you bought a unit off the plan three years ago in Sydney’s outer west and are settling on it now, it is likely to be worth less than you are paying.

* With investments be very suspicious of rental guarantees, which can be used to set artificially high prices. For example, if gross rental returns are 10 percent in an area and the vendor guarantees a $400 a week rental, that would price a property at $208,000. But say that market rent is really $350 a week, meaning it’s only worth $182,000. If you fall for this, you would pay 12.5 percent above market. The vendor only has to pay $5000 to guarantee the extra rental for two years and score an extra $26,000, or $21,000 net.

These are a few tips for more information contact What If We Finance for more information.

The recent interest rate rises have made it even more important to make sure you have a competitive home loan. Melbourne Mortgage Broker, What If We Finance advises borrowers to monitor their home loan to ensure they continue to have the deal on their home loan.

When considering if you should refinance the first thing one should is conduct a Home Loan Health Check. This will allow you to determine if you have the best home loan deal available. What If We Finance recommends that a home loan health check is conducted every 12 to 18 months.

Many people try to predict interest rate movements but not even professionals can do this successfully so What If We Finance recommends if a deal saves you a significant amount of money it should be considered.

As part of this process you should consider the break fees associated with your home loan, interest savings and changes in your personal circumstances. More often than not changes in your personal circumstances means you may need extra funds.

Before you refinance you should ask yourself the following questions:

* Does your current home loan suit your current lifestyle?

* Do you want to make better use of features that are available on your home loan?

* Are you thinking about renovating?

* Would you like to use the equity in your home for investment opportunities?

* Would you like to split your current loan to part-variable and part-fixed?

* Do you have a fixed rate loan that is about to expire?

* Are you planning to start a family? If you are, what financial impact will this have?

If you answer yes to any of these questions then refinancing is a serious option.

You may also want to compare loans to make sure you have the loan that best suits you.

Use the What If We Finance calculators to evaluate your current loan. Find out how different scenarios can affect your home loan and potentially save you money such as:

* Changing your loan product

* Changing your loan amount, loan term or interest rate

* Using an offset account

* Redrawing additional loan payments

* Making a lump sum payment

The above process can be completed quite quickly by your Mortgage Broker and is probably the most efficient and effective way to determine if refinancing is for you.

Today company’s only interest is to promote their product or services without wanting to really help people better their financial situation, or understand the true meanings of finance, which could help them clear their debts.

I recently came across a free financial help website created by FLM Loans which was made for the sole purpose of educating their customers and others on all aspects of finance.

I found that although FLM offer finance and are already known for not charging any early repayment penalties and being able to help people in any circumstances, they decided that they also wanted to help their customers understand their finances.

It is often people with poor financial situations that have the least access to financial advice, and they therefore make the worst decisions concerning money. The FLM financial help website is there to help those people in more difficult financial situations to help themselves.

Speaking to a member of FLM Loans I was told that although FLM do offer financial services, they invested in the FLM website to educate theirs customers on aspects of finance that they would not have been aware of before.

It seems that FLM Loans are an ethical company not looking to purely promote their product but also to help those people in need to understand exactly what those things that are making them financially unreliable actually are.

FLM Loans can help anyone in any circumstance whether to help them obtain finance or to assist in educating them in various financial aspects that could help them understand their financial situation.

Access to capital is radical for merchants for carrying their business forward successfully. From the time they think of trading, the need of cash arises. As the trade grows, there is call for even more money to finance the expansion. There are many financing options available in the market, to help you leap over the hurdles of finding and arranging finance and commence your trade effectively. These numerous options which you may consider are: seeking money from friends and relatives, borrowing money from bank, unsecured cash advance, lease financing, etc.

Having access to a bank loan is a daunting task if you don’t have an operating history and no collateral to secure the loan. In that case, you can think of borrowing money, as there are various investors and lenders offering rapid cash advance at flexible rates and repayment options. You can also try some other finance options like:

Unsecured Cash Advance
Unsecured cash advance help you to cover your business risk and strengthen your business position. This type of financing option is highly popular because it does not require any kind of collateral, down payment and security deposit to get approval for merchant cash advance. In addition to that you are free to use the merchant cash advance he way you like there is no particular.

The repayment options for unsecured cash advance is easy and flexible, the borrower can either repay in installments or through a single payment depending upon his business requirements. A Payment processing company can help you to find the best lenders for merchant cash advance with minimum interest levels.

Small Business Working Capital Finance
This is a traditional funding method, which allows you to convert your income streams into rapid cash advance. Small Business Working Capital Finance ensures that your franchise can pay its bills and trade effectively. A simple method of obtaining rapid cash advance is to sell your accounts receivable to a lender who specializes in accounts receivable factoring. Also, obtaining money for Small Business Working Capital is much easier than going after a bank loan.

Whether you are starting a new venture, or have an established business, contact the leading Payment processing company, Merchant Money LTD for all your merchant finance needs. With their skills, expertise, resources, payment processing services and contacts, they can help to find you the right finance solution. Browse through their website www.merchantmoneyweb.com, and learn more about their varied finance solution.

When it comes down to buying a car then you need to do something just to keep your options open. Let us look at it this way, if you are requiring a car loan then your credit history should be evaluated and at that point you will know how much you can take as a loan.

If your credit line was bad then you can’t get a large loan and this means that you have to choose between a smaller numbers of cars. However, if you took certain precautions towards your credit instantly then when you decide to buy a new car you will find yourself in a good position to get the car finance you want.

The first thing you need to do is to keep your credit balance in shape, you need to pay your dues in time, if you are late for paying this then it will be written in your report and this will affect your chances when you go for a loan.

If there is any dispute of any kind about your payment then you need to settle it down at least a month or two before you think of applying for a loan as this will reduce your chances majorly.

It is very useful if you went for a car loan approval just before you hit the show room as this will make you in a better position when you negotiate with your agent for many reasons; let me name some of them. The first reason you are showing commitment, this means that you are ready to buy and in the sales field this is called a pre – closed deal as the client is half – way already. All you have to do, as an agent, is to convince him with your merchandise.

The second reason is that you are showing that you have the ability to buy, and this is also a good incentive for the agent to give you the best price as he knows that you have the capabilities and the money to buy the car. Another reason is that you are putting yourself in the comfort zone, and you will save yourself hundreds of presentations that are away over your budget and let the agent concentrate on the cars within the budget only.

When you are buying a car, the credit history is your back bone. If it is good then you will be able to choose but if it is bad and contains lots and lots of reports then probably you will have to accept any car that you can afford and you can kiss your dream car good bye as you won’t be able to get it unless you work hard on your credit.

It is not always likely to get huge cash for buying a car and this is the cause why individuals go for used car finance. If you dream for a car which doesn’t fit into your budgets, then it is better to choose the used cars. These cars are obtainable at a low-priced rate for that you could even get finances without any trouble. Individuals arrange for the used car finances through their relatives as well as friends, however these days there’re finance companies which offer used car finance. The used car loans are pay out on the as per to the usage cost of the cars and not the original cost. This signifies that the finance companies could offers loans through calculating the percentage of the car’s usage in spite of the original cost.

The used car finance is appropriate for the individuals who are in search for buying cars through availing minor loans or who are running a little low on the finances. One requires paying a fixed amount as the first payment and this is normally the difference among the original price of the car and the loan amount. This is normally a small amount in evaluation to what one need to pay as first payment as availing new car finance. The used car finance is obtainable for the cars which are below the 5 year usage mark. The loan paying back period could range something between two to five years.

There are two sort of used car financing accessible in the market: secured as well as unsecured. While availing secured used car loans, you have to offer some guarantee as security against the loan amount. The borrowers normally use their car as the security and perhaps this is the best guarantee which one could provide, however one could also use real estate, jewelry etc. For gaining the secured loans you don’t even need to pay a high interest rate and that’s the reason most of individuals don’t prefer to get such loans. Despite of above details one should memorize that the assets that one guarantees could be confiscated through the finance companies in case the loans are not been repaid.

While availing unsecured loans everybody can gain them and there is also no necessitate for the guarantee. The only matter is been measured is that the interest rates for the unsecured loans is higher compared to the secured ones. So if you’re all set to pay higher interest rates and don’t require pledging your assets. These loans are absolutely costly although you’re free from the worries of having pledged your assets. The individuals having a bad credit score would should pay much higher compared to the ones who have a good credit score. Seek to opt for the lowest repayment period as this would get down the interest considerably. There are few things that you need to keep in mind as you apply for the used car loan, which is the time periods for repayment, interest rates, cost of the car, etc. You could even decide on the one time repayment plan to gain lower rate of interest.

Three significant events have shaped the motor trade over the last 5 years. The Internet, FSA regulation of insurance sales and the current economic downturn.

The culture of Carlyle Finance is to embrace change to ensure that events work to the advantage of our dealer partners so that they are in a position to close more car finance deals and that any market changes deliver more opportunities than threats.

The Internet

The internet has made a fundamental change to the market over the last five years. Recent data suggests that 80% of all car sales are now researched and sourced on-line. Many believe that this represents a threat to income for a dealers business, – by driving down chassis profit and finance penetrations. It doesn’t have to be this way. There are a number of initiatives that Carlyle Finance has employed to take advantage of the internet.

- Virtual Business Manager – What if we could qualify, present and demonstrate the value of point of sale finance 24 hours a day, 7 days a week? What if your on-line customers could receive quotes, run quote comparisons and gain bank and cash conversion information rather than source a personal loan?

All of the above is possible by choosing Carlyle Finance. Our Virtual Business Manager compliments your F&I processes rather than threaten them. The actions of our VBM, – through video, graphics and quote engine technology, are dictated by you, the dealer ensuring your car finance deals continue to be a vital profit centre for your business.

Insurance and The FSA.

The introduction of regulation upon point of sale insurance has made a major impact upon the industry. Carlyle Finance embraced the changes and having done so now lead the market in terms of PPP and GAP sale performance. We achieve this through product innovation, class leading process and the highest levels of compliance and customer satisfaction.

Our insurance solutions can compliment your own or provide a completely new profit channel from an income stream you may have abandoned.

The Credit Crunch

We understand that recent economic events would have had an impact upon your business. Perhaps in terms of unit sales, after-sales or any number of other income areas. We also understand that the crunch has had a severe impact upon other motor finance providers as their parent companies battle with exposures to sub-prime losses.

Rather than focus upon fewer car sales, fewer car finance deals and fewer finance companies to choose from we believe that any progressive business that works to choose an innovative, independent partner will thrive. Customers will look for value, service and affordability and together we can drive unit sales and finance penetration back up.

Together we can do this by offering good value, great service and product innovations that make the vehicle more affordable.

Most lending in Australia before being approved requires a bank valuation to be completed and this is where lending can get complicated. The reason being the bank definition of value and that employed by the free market tend to be poles apart.

Leading Melbourne Mortgage Broker What If We Finance CEO Spiro Kolokithas says “most people believe value to be what a willing buyer and seller are prepared to exchange the property for under no pressure to sell. Conversely bank valuations employ a different principle. This is often referred to as market value”

Research and experience by What If We Finance shows banks tend to value property at the price that can be achieved over a short period of time. Usually 1 to 3 months. Most bank valuers will look for evidence to support their valuations. They will look for sales of similar properties in the past 6 months and as the property market can be quite dynamic, this can produce valuations results that do not make sense.

What If We Finance experience also shows that bank valuers are not influenced by properties on the market. Generally, sales must have occurred within the last 6 months.

Bank Valuers will consider property features but as no two properties are identical, valuations tend to be more of an art than a science.

Bank Valuers are often assigned responsibility for specific suburbs and they may not the area too well. They will drive out to their area, take photos and go back to the office and complete the valuation. They are often swamped with valuation and may not spend too much time on a valuation.

What If We Finance CEO Spiro Kolokithas “we have had instances where a bank valuer lives and works in Malvern (a Melbourne suburb) and conducts valuations in Cranbourne. We found valuations form this bank were consistently 20 or so per cent lower than those of other banks. “

So what should you do to avoid a bank valuation coming below your expectations/ What If We Finance recommends you undertake the following:

Look at comparable sales – you can look at property research reports or talk to real estate agents. Be mindful a real estate agent may overinflate property prices or not use comparable properties

Commission your own valuation – Residential valuations start at around $500. Chose a bank panel valuer and tell the valuer the valuation is for bank mortgage purposes. The benefit is you control the valuation; you meet the valuer, brief them on the property and see the valuation result in advance. Banks may order their own valuation but if the same valuer is used it is highly likely the valuation result will be the same.

Use a Mortgage Broker. Your Mortgage Broker can advise you on different bank policies and which banks tend to have the most favourable valuations this will ensure the bank valuation is in line with your expectations.

So you have decided you want to buy a new property and need to organize finance. With over 1000 home loans available to Melbourne Home Loan customers do you have the time to find the best deal for you?

Like most of us the answer is No. Home loans are becoming more and more complicated, quoted interest rates are not the true interest rate so you have decided to use the services of an expert – a Mortgage Broker.

Using a Mortgage Broker delivers the following benefits to you:

1. A simplified way of understanding and evaluating home loan products

2. A Mortgage Broker saves your time

3. To ease the stress of the home loan application process

4. To obtain truly independent advice about the best product that suits your needs. Most large Mortgage Brokers in Australia are owned, controlled or affiliated with a major bank. So ask yourself am I getting truly independent advice?

5. To get a better deal

All Mortgage Brokers have access to calculators which allow you to access 1000’s of home. The real value that a Mortgage Broker delivers is the ability to deliver independent advice and recommendations. Anybody can operate a calculator.

Leading Melbourne Mortgage Broker What If We Finance CEO Spiro Kolokithas says ” the larger mortgage brokers are similar to a fast food chain. They claim to serve customers and meet their interests but if you have a major shareholder that is a major bank or shareholders not happy with the return on investment or mortgage brokers being expelled for not meeting industry standards how objective is the advice you are getting?”

What If We Finance recommends you ask your mortgage brokers if they meet industry standards and also if they are truely independent? The Global Financial Crisis and the shrinking of competition in the Melbourne Home Loan Market means you may still be ultimately dealing with a major bank.

Alternatively contact What If We Finance and see why not all Mortgage Brokers are created equal.

Many people dream of owning their own houses, cars and properties. At times, a good mortgage finance loan plan can help one in realizing this goal. Any home or car buyer will agree that mortgage finance have offered more choices. With more choices, one can also have more options to compare to come up with a better loan suitable to him or her.

Before deciding on a finance mortgage loan, ask if you can afford to pay it off within the given amount of time. Also, choose a good financial institution that can best assist you with your loan. Find out also which ones offer the best deals, the less interest and whose reputation in this type of financing and mortgage loan is beyond question.

Where to Acquire a Good Mortgage Loan

Most institutions that specialize in this type of financing are known as thrift associations. In the earlier times, these types of financial institutions were in demand because they offer various mortgage products. Most of the lenders operate in such a way that they deposit several savings of their savers and then utilize the money to enter into a certain kind of mortgage.

Later on, as mortgage financing was in disarray, mortgage finance bankers replaced thrift institutions in terms of mortgaging, deposits and savings schemes. They specialize in initiating loans and then offering them to prospect investors may these be homebuyers, car purchasers or entrepreneurs.

Mortgage buyers are still in demand, especially for consultation purposes. This is because they have great connections with lending institutions which places them in a better position to offer financial advice.

In this modern age, the cyberspace is also a credible source of information for arriving at a final decision in getting a mortgage loan. The internet is a fast means of having access on any data regarding mortgage finance loan.

How Can You Get a Mortgage Finance Loan?

As a general rule, people who have good paying standing with any bank gets a loan with much ease and less hassle. If you have an excellent credit standing, most likely you will get a full loan that will cover the price of the house, car or property.

People with poor credit can still get a loan, but on different terms. First time buyers and those with pending debts can still acquire a loan under different program paying schemes laid down by the financial institution concerned.

What is also new regarding mortgage loans is that it can now be approved online. You can do away with very strict approval by simply visiting the website of the financial institution you wish to transact with.

How Does One Qualify For a Loan?

As discussed earlier, a person with good credit history best qualifies for a loan. After which, the company scrutinizes your bank statements, employment status, and credit scores. Upon verifying your documents, the financial institution will inform you of your eligibility forth loan. Take note that interest rates vary with each financial institution. Loan application is preferred online, but if you are not comfortable with this you can also process it offline or directly with the financial institution. GP