CSC Home Loans latest sponsor for Speedway Championship

CSC Home Loans latest sponsor for Speedway Championship

Sydney based lender, CSC Home Loans is the latest company to lend its support to the 2007 Australian 500cc Speedway Motorcycle Championship Series to be conducted over five rounds in January.

CSC Home Loans – whose offices are in St Leonards (North Sydney) – are a leading, full service independent lender, having presided over more than $400 million (AUD) in mortgage loans. The reasoning behind supporting the five round Australian 500cc Motorcycle Speedway Championship Series was simple.

"Holding the Grand Final at the Sydney Showground was the major selling point to us," said CSC Home Loans Managing Director, Neil Brett.

"Being a Sydney based company, the venue is perfect to showcase our products with the sport, whilst entertaining our clients and corporate guests.

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Equity Release Home Loans

Equity Release Home Loans

The basics to equity release home loans as that the home owner agrees to sell part of their home (in most cases lenders will not agree to purchase more than 25% of the value of the home) to a lender. In exchange, the lender gives the home owner a one-off payment. The home loan is then repaid when either (a) the home owner sells the home; or (b) the home owner dies and the estate of the deceased will pay off the home loan from the proceeds of the sale of the home sale. Alternatively, the heir to the home owner can agree to repay the home loan on your behalf and that way reclaim 100% ownership over the home.

The downside, however, to equity release home loans is the issue of compounding interest. As you will neither be repaying the principal nor the interest accruing on the home loan, it doesnt take too long for the compounded interest on the home loan to start to become a significant sum. In some cases, this compounding of the interest on the home loan can mean that you owe half as much again as you borrowed on the home loan only 5 or so years after you agree to the home loan with the lender. Consequently, very serious and careful consideration does need to be given before agreeing to finance this type of home loan. Here, when reading the home loan agreement, care should be taken to see whether there is a maximum age at which the home loan can be granted as some lenders will not agree to this type of financing package to those over the age of 65. With life expectancy now exceeding this considerably, the interest being compounded could make it feasible that the entire value of the home is eaten up in interest. In that case, you need to ensure that whatever the period of the home loan is for, you cannot be charged more in interest on the loan than the value of the home is on the day that the home is sold to repay the original loan.

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Only mugs are paying top dollar

Only mugs are paying top dollar

FORGET the hysteria about the latest hike in interest rates -- only a mug would pay the full whack these days. Shop around and you could get at least half a percentage point off the advertised rate, chopping it back to about 7.5 per cent from the 8.25 per cent the big banks will soon be charging.

"You can get 70 basis points (0.7 per cent) off a Westpac home loan just by walking into a branch and asking for it," one source claimed yesterday.

Existing borrowers will have an uphill battle, but they too should ask for a better deal. When the letter arrives bearing the bad news of a higher rate, be ready to claim you have a mortgage lender prepared to absorb the costs to win your business.

The big banks have been locked in battle with mortgage brokers since January in an attempt to claw back market share.

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Australian Home Loans Fall In September

Australian Home Loans Fall In September (RTTNews) - In September, the number of Australian home finance, in seasonally adjusted terms, fell 1.2% from prior month, the Australian Bureau of Statistics said Wednesday. This compares to the 1.0% drop in the prior month. The value of home loans fell 2.3%, down from the 1.3% slump in the prior month to A$13.56 billion. Investment housing loans at A$5.56 billion was 5.5% down from August, when it fell 1.4%, the report said. The total value of housing loans declined 3.3% to A$19.13 billion during the month, as compared the fall of 1.3% in the prior month. Copyright(c) 2006 RealTimeTraders.com, Inc. All Rights Reserved .

Aussie Lower Generally After RBA Decision; Home Loans Data Causing ...

Aussie Lower Generally After RBA Decision; Home Loans Data Causing ... (RTTNews) - The Australian dollar weakened against its major counterparts after the RBA rate decision, Tuesday. The Reserve Bank of Australia raised its overnight cash rate by 25 bp to 6.25% and following this news at 5:30 pm ET, major AUD pairs declined. During much of late trading of the day, AUD showed choppy trading across the board. This came amid Australia home loans data for the month of September. The Australian bureau of statistics indicated in its latest release that the home loans fell 1.2% in seasonally adjusted terms in September. The Australian dollar weakened against the US currency amid US economic data during Tuesday afternoon deals. After that, ahead of RBA decision, the pair trended slightly higher but following the decision to raise the interest rate, AUD declined.