NFC National Finance Corporation’s website has a great fresh new look and has gone live. Visit www.nfc.com.au now and ensure you subscribe to receive our updates in mortgage broking, banking and finance industries. With some lenders now offering up to1% discount off standard variable interest rates for the life of your loan, there has been no better time to review your current mortgage.

Email info@nfc.com.au or call 1300 663 632 now.

National Finance Corporation (NFC) has a vacant office at Stafford available for rent. It is fully networked with all the equipment for any office environment which comes included with rent. Exclusive use of one office, shared reception area and kitchenette and storage. Would suit another mortgage broker, financial planner, accountant, solicitor, real estate or buyers agent. I will consider other professional service type businesses. The space is available now. Call Warren Schrodter on 07 3356 8132 for further details or inspection. Bus stop 20 metres from office entrance as well as off street parking and cafe next door.

For the second time in 2 weeks Commonwealth Bank (CBA) have increased their discounts under their “Mortgage Advantage – Professional Package”. This is clearly in response to increased pricing pressure between National Australia Bank (NAB) and Westpac Banking Corporation. CBA also have concessions on their fixed rates as well. Call National Finance Corporation and Warren Schrodter to find out more on 07 3356 8132 or email info@nfc.com.au to see how you can benefit.

New Discount Table Below and is available until 31 May, 2011.

New Discounts:

Note: These discounts only apply to new money Home/Investment Home Loan and Line of Credit applications on the Standard Variable rate (SVR) and Residential Equity Rate (RER) under Mortgage Advantage.

Example scenarios:

Conditions apply and only applies to new borrowings to CBA.

_{By Adam Smith | 12/04/2011 5:00:00 AM}

Source Australian Broker News 12.4.2011

February has seen lending finance drop across the board, new Australian Bureau of Statistics data has shown.

The ABS figures, released yesterday, show a 4.8% seasonally adjusted decline in home loan lending for February. Likewise, lending for personal, commercial and lease finance have all declined over the month. Commercial finance saw a 6.6% decline during the month, seasonally adjusted, with finance for investment properties dropping a seasonally adjusted 1.4%.

The data follows on last week’s figures on housing finance, which showed a 5.6% decrease for total housing finance commitments in February after a 13.5% decrease in January. The numbers showed commitments for the purchase of new homes falling by 12%, and lending for the purchase of established homes dropping 6%.

_{By Ben Abbott | 12/04/2011 7:00:00 AM |}

_{Source Australian Broker News 12.4.2011}

The non-bank lending sector will disappear when the exit fee ban becomes law in 1 July, and are already going backwards despite the government’s focus on mortgage competition, according to the MFAA.

Referring to Australian Bureau of Statistics figures released last week, the association said in a statement released to media that smaller lenders are losing ground, while the banks’ 90.2% market share was the highest since September 2010.

The MFAA said that in contrast, non-banks managed only 1.9%. This contrasts with the 13.6% share that non-banks had achieved in competition with the banks prior to the financial crisis. The ABS figures found that credit unions and building societies held a 7.9% market share in February.

MFAA CEO Phil Naylor said that these ABS figures support our contention that the upcoming elimination of exit fees will not increase competition.

“Most of the major banks have already dropped their exit fees ahead of government regulation and this has clearly resulted in a churning of loans among the major banks but to the detriment of non-bank lenders," he said.

“On the basis of this trend, non-bank lenders will disappear when exit fees are totally banned in July. How can it be good for consumers when the most competitive lenders are forced out of the market?” he said.

Naylor said the MFAA had asked the government to exempt smaller lenders from the ban on exit fees.

“Non-bank lenders are synonymous with bringing down the margin on home loans in Australia, making them more affordable for all Australians,” Naylor said. “Those loans offered by Aussie and Wizard were built on the deferred establishment fee – it allowed them to compete with the banks.

“Without deferred establishment fees, competition will reduce and Australians will eventually pay more for their mortgages.”

Non-banks and mortgage managers have already begun ditching DEFs prior to 1 July, with many considering broker commission clawback as part of their revised cost structure, in order to remain competitive.

Mortgage Insurance (LMI or Lenders Mortgage Insurance) is going through a time of change with the Global Credit Crunch. Visit one of our sites http://www.mortgageinsuranceaustralia.com.au for more detailed information. Our main website http://www.nfc.com.au also has detailed information on mortgage insurance in Australia.

It is now official, Lo Doc mortgage loans in Australia are almost dead. After RAMS, Westpac and St George introduced BAS Statement requirements to Lo Doc Loans and the removal of cash out, it seems Lo Doc loans are now a thing of the past. A significant concern now is the ramifications of existing Lo Doc borrowers who now cannot obatin cash out on their existing Lo Doc loan. Cash Out means borrowing money for an unspecified purpose.