Vicky Edema's Blog
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Nov 30

A mortgage broker can save you time and money

Published in new car financemortgage brokerhome finance by Vicky Edema |
In Australia many lenders rely on a mortgage broker or mortgage brokers to generate new business for them. Many Australian banks closed their branch offices during the late 1980s as they turned to technology and internet banking to grow their businesses. The branch network was considered expensive to run. The banks believe it is far better to pay a mortgage broker to generate home finance loans
Nov 30

A mortgage broker is worth his weight in gold

Published in new car financemortgage brokerhome finance by Vicky Edema |
A mortgage broker is worth his weight in gold I recently decided to refinance my home loan and my investment loan and it was suggested to me that there was little need for a mortgage broker because it was easier enough to go direct to a bank and apply for a loan. I thought that I would speak with my own bank. The first frustration was I could not actually contact my branch direct. I had to
Nov 30

Australian Mortgage Broker

Published in new car financemortgage brokerhome finance by Vicky Edema |
I read an article recently that suggested that borrowers who use a mortgage broker pay more for their loan than if they go direct to the bank. It is extraordinary when this sort of poorly researched misinformation is published in a magazine.

I have been involved ion the mortgage industry in Australia for over 25 years and during that time I have seen the growth of the mortgage broker market.
Nov 30

Home finance interest rates getting lower by the day in Australia

Published in new car financemortgage brokerhome finance by Vicky Edema |
First home buyers, investors and those looking to upgrade their property by way of home improvements or the purchase of a bigger home are all in a better position to do so than they were some six months ago when home finance interest rates were looking like hitting 10% p.a. In mid-2008 the Reserve Bank of Australia was lifting interest rates to curb inflation knowing that an increase in the
Nov 30

HOME FINANCE BENFITS FROM WORLDWIDE CREDIT CRUNCH

Published in new car financemortgage brokerhome finance by Vicky Edema |
There are not too many benefits coming out of the world wide credit crisis, but one at least, is the reducing home finance interest rates that we are now experiencing in Australia. Home finance is becoming more affordable as the Reserve Bank of Australia (RBA) drops interest rates. In October interest rates reduced by 1% p.a and then in November they reduced again by a further 0.75%. While the
Nov 30

Car finance becoming increasingly scarce in Australia

Published in new car financemortgage brokerhome finance by Vicky Edema |
The world economic global crisis has had a huge and negative impact on the car finance industry in Australia because the major suppliers of car finance here have recently withdrawn from the car finance market. GE Money and GMAC who are believed to have had at least 60% of the car finance market in Australia have suddenly withdrawn from this market. While GE Money has continued to play in the
Nov 10

Home finance – yes it is still available in Australia and at good rates

Published in mortgage brokerhome loan financehome financecheap home loan by Vicky Edema |
If you are in the market for home finance then the best bet is to speak with a mortgage broker who will have access to a wide range of home finance product and will be in a position to recommend the right home finance for you. Once an experienced mortgage broker has discussed your home finance needs with you and ascertains whether you prefer home finance with all the “bells and whistles” or
Nov 10

A good mortgage broker may soon be hard to find!

Published in mortgage brokerhome loan financehome financecheap home loan by Vicky Edema |
What is happening in the mortgage broker space in the Australian finance market? With the global credit crisis continuing, the face of the home finance sector of the market is changing. Until recently Australians enjoyed sound competition between the banks, credit unions and non-bank sector. Because of the myriad of home finance packages and investment loans available a role developed for the
Nov 10

Car Finance under threat in Australia but there is still good car finance available

Published in new car loannew car financemortgage broker by Vicky Edema |
Car dealers and lease brokers are anxious as a result of GE Money’s withdrawal from the Australian car finance market. Only in September GE Money was reassuring business partners that it was “here for the long term” was “funded for 2008” and had “liquidity” at “competitive rates”. This all went out the window recently when GE Money announced that it was withdrawing from the car finance markets
Oct 20

The emergence of the mortgage broker in the Australian mortgage industry?

Published in mortgage brokerhome loan financehome financecheap home loan by Vicky Edema |
During the 1990s there was huge growth in the number of mortgage brokers providing services to borrowers looking to purchase, refinance or endeavouring debt consolidation. This came about because of a number of factors prior to this time

1. the choice of mortgages available to borrowers was pretty limited. You didn’t really need a mortgage broker if the decision was simply whether to take an
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