No Deposit Home Loan

AUSTRALIA'S house prices will soften but should not crash because of the world economic crisis, Reserve Bank governor Glenn Stevens says.

HOMEBUYERS will find it hard to get no-deposit loans as banks tighten lending standards in the wake of the credit crisis.

TWO residential developers have called the bottom of the housing market, saying some life should return to the sector next year.

SOME first home buyers are changing the date of existing contracts so they qualify for the latest lucrative Federal Government grants.

"The lowest two-year fixed rate the market has seen from a major bank since September 2003!"

Below 6% !!

Two year fixed rate home loan effective 17 November 2008 .

Phone now.

Call%Basic home loan offer available from Monday 17th November.

• NO application fee
• NO valuation fee ($500 paid toward cost of valuations. valuations up to $1 million are $220)
• NO ongoing fees
• FREE REDRAWS
• MINIMUM loan can be as low as $50,000
• Settlement fee only $250
• CAN be split into four separate accounts at NO additional charge (Note can only combine with basic or fixed)

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• House prices set to fall as rates go down
• As economy slows, prices could go lower
• Calculator: Can you afford to borrow?

Citibank is decreasing all current variable interest rates by 0.65 percent effective Monday 17th November.

Updated interest rate sheet will be issued on Monday 17th November .

Also please stay tuned for the Citibank hot new to bank basic rate home loan effective Monday 17th November.

RAMS Basic Home Loan rate reduced to Call% p.a.

To ensure it continues to offer a cheaper alternative to the major banks, RAMS is today reducing its standard variable rate to just Call%.

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RATE cuts mean almost $550 a month has been wiped off the interest cost of a $350,000 variable rate investment loan.

TENANTS from hell, rising repayments and maintenance problems can make landlords feel investing in property is best left to suckers.

FORMER Savage Garden musician Daniel Jones is the latest victim of Sydney's slumping property market.

Childsplay Marine are a custom manufacturer of high performance circuit race boats, water ski race boats, social water ski boats and wake boarding boats.

Childsplay Marine's fully equipped boat racing and ski boat manufacturing facility is able to supply everything from a custom manufactured boat component to a complete "turn key" fully customised performance boat.

Contact Childsplay Marine for more information.

Heritage Building Society have very attractive fixed interest home loan options at present.

1 & 2 Year fixed currently Call%
3 & 5 Year fixed currently Call%

Unlimited lump sum payments (break cost applicable only if paid out in full)

Redraw available

Application fee $600, no additional cost to split loan facilities (legal and settlement fees will apply)

Effective 10th November 2008 Bankwest variable interest rate home loans will be changing.

• Bankwest Lite Home Loan
• Bankwest Lite Plus Home Loan
• Mortgage Shredder (excluding 12 Month Fixed Intro)
• Bankwest Easy Doc Home Loan
• Bankwest Seniors Equity Release
• Bankwest Equity Access
• Home Owners Loan

The variable rate on the above home loan products is reducing 0.60 percent.

AMP Banking have announced the full 0.75 percent RBA cut will be passed on to customers.

Variable Rate Loans - changes effective as detailed below

• All variable rate loans are decreasing by 0.75% pa
• Effective Sunday 16 November 2008 for new business
• Effective Monday 17 November 2008 for existing business
• Changes impact all variable rate loans and lines of credit, including Practice Finance, Adviser Register & CAPs Loans
• All variable rate changes will be advertised in The Australian on Thursday 13 November 2008

PRESTIGIOUS suburbs are facing house price slumps amid the credit crunch as cheaper outer-suburbs emerge from years of price falls.

STATEMENT BY GLENN STEVENS, GOVERNOR MONETARY POLICY

At its meeting today, the Board decided to reduce the cash rate by 75 basis points to 5.25 per cent, effective 5 November 2008.

World financial markets have remained turbulent over the past month. Global equity prices have been volatile and fell further in net terms, and there have been significant exchange rate movements, including a sharp depreciation of the Australian dollar. A number of governments have announced measures to strengthen their financial systems, which should help to stabilise conditions over time.

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HOUSE prices fell in the September quarter and grew at the slowest annual rate in three years.

THE property market has become polarised, with lots of movement at the top and bottom of the market - and falling prices in between.