Home' The Mt Barker Courier : The Courier - 2016-06-15 Contents PAGE 22 – The Courier Wednesday, June 15, 2016
The majority of Australians have
never changed or reviewed their
the one lender for all of their needs.
According to Mortgage Choice’s Money
Survey, 46% of respondents said they
and had not seen the need to switch
institutions or have a relationship with
Speaking about the results, local
Mortgage Choice Adelaide Hills
mortgage broker Rob Shearwood said
while there was nothing wrong with
being loyal to the one banking institution,
it was important for Australians to make
sure the lender they chose to partner
with was meeting all of their needs.
“Looking at the data, the number one
reason why Australians switched lending
institutions was because they could
source a higher savings rate elsewhere,”
“The second most popular reason
for changing lenders was because
Australians found a better home loan
“Both of these reasons are valid motives
for changing lenders.
“Some Australians are acutely aware
that there is another lender on the
market that can offer them a better deal
or rate that suits their needs.
“Those who decide to partner with a
lender that perfectly suits their needs
sooner.” Mr Shearwood said it wasn’t
potentially change lending institutions.
“There are a few easy steps that all
Australians can take to ensure they
Know what you want from a
Do your research
Make a list of ‘need to know
Continue to review your needs
“This should provide you with the peace
of mind you need to know you are
making the right decision,” he said.
“Even after you have done your
research and decided upon a lender, it
is important to continue to review your
“Australians shouldn’t take a set and
“It is important to be proactive when it
your options regularly.
“As a general rule of thumb, it is a good
at least once a year or every time you
For more information on your current
8398 2955 or visit www.mortgagechoice.
results and reasonable
which are consistent with a
re-balancing of the economy
the factors steering Australia
away from a recession.
We discuss this, along with the
risk of a property crash and
Australia’s declining negative
negative gearing numbers
Declining tax claims due to
negative gearing in Australia are
largely a result of low interest
rates relative to rental yields.
negative gearing has somewhat
There is a broader issue at play
however, which is the political
debate proposing to restrict
negative gearing tax concessions
to only new properties.
The problem is that the main
factor driving expensive property
in Australia is constrained supply.
Negative gearing also needs to
be considered in the context of
the tax system as a whole.
Australian housing is expensive
relative to incomes and rents and
household debt ratios are high.
So yes, there is a risk of a sharp
drop in property prices at some
point. However, this is unlikely
unless we see much higher
interest rates or a surge in
unemployment in the context of a
The foresight of the Reserve
Bank of Australia (RBA) and what
has so far been a successful
re-balancing of the economy
in the face of the mining
downturn mean that both of
these scenarios seem unlikely at
However, there is always a cycle
fall in property prices at some
point in the next few years much
like we did around the time of
unlikely that we’re going to see a
results turned out?
reported by Australian companies
related to the December half of
market falls, these results have
proven to be better than feared.
Although resourcing companies
cuts to dividends, this was not
More importantly, the remainder
of results were reasonably good
A majority of Australian
companies are doing reasonably
well, particularly those which
are aligned to sectors in the
economy like housing, retail and
The threat of a global recession
rattled share markets at the
start of the year, and although
global data is mixed, there are
some signs of improvement. The
manufacturing weakness in the
US may be coming to an end
and the US Federal Reserve
is slowing down its proposed
interest rate hikes.
Other central banks are gearing
up to provide stimulus and this
is contributing to a reasonably
positive policy environment.
Economic data within Australia
has been reasonable and retail
sales and housing indicators are
around long-term average levels.
The RBA might need to provide
more support in terms of interest
rate cuts, but there’s certainly no
sign of Australia entering into a
This article has been prepared to
provide general information. An
investor should seek professional
advice before making any
For more information, please contact
Kym Thyer or Troy Mickan at KTA
Financial Services on 8536 2022.
Kym Thyer and Troy Mickan of KTA
Pty Ltd ABN 19 008 141 080 are
authorised representatives and credit
representatives of Charter Financial
Planning Ltd, Australian Financial
Services Licensee and Australian
This article contains information that
is general in nature. It does not take
situation or needs of any particular
person. You need to consider your
making any decisions based on this
By Dr Shane Oliver, head
of Investment Strategy and
chief economist with AMP
Why Australian property won’t collapse
Renovating your house can be a great
are a number of things to consider before
you get started.
Stephen Villios, principal of RAMS Home
steps to help ensure the process runs
smoothly and you get the outcome you want.
“Renovating can be an exciting time for
people, although it can also be stressful if
you don’t have the right plan in place,” he
“It’s important to be clear about what you
want to achieve out of the renovations and
what your needs are.
“When I talk to my customers I recommend
to help get started.”
Set a budget
This is a crucial step and requires you
to do your research and determine what
type of renovations you want to carry out.
Remember big structural changes will cost
After you’ve set your budget, seek advice
from your lender to ensure the budget is
appropriate for you and to get their advice
Select an architect
A good design is crucial so while not
essential for all renovations, you may
want to consider hiring one. You’ll need to
research a range of different architects and
select the one that best suits your taste and
budget. You then need to work together
to create both a functional brief and an
Select a builder
A great builder makes all the difference.
Do your research and speak to people for
recommendations. After you’ve selected,
check they are licensed with the relevant
building authorities and ask for a list of
recent projects that you can view. You need
to work in partnership with both your builder
and your architect to get the best out of your
you can start the designing in partnership
with your architect and builder. Think about
what style you are after, what features you
like and whether you want a theme through
the house. Have fun here, it’s an exciting
Mr Villios said good planning took time so it
was wise not to rush.
“Do your research and make the right
time in the long run and ensure you really do
get your dream home,” he said.
For more information, advice or assistance,
contact RAMS on 13 RAMS - that’s 13 7267
11 Gawler Street, Mt Barker.
Simple steps to turn
a house into a home
RAMS Home Loans
11 Gawler Street
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