View original post here:
Apple Isle is hot property – The Australian

View original post here:
Mackay unit sales take hit – ABC Local

See the rest here:
Ideal conditions for substantial property growth

Excerpt from:
Big rises expected for rates and land tax

See the article here:
Classic return verandah villa – Yorke Peninsula Country Times

See more here:
Melbourne’s planning system broken – The Age

It is no secret Australia’s ageing population will place increasing pressure on our economy. We are living longer than ever before, which means we need to fund an increasing number of ‘golden years’.

What options do older Australians have when it comes to financing their future?

Investing in the share and property markets is a popular strategy for accruing wealth and earning income over one’s lifetime. One not so well-known option for home owners nearing retirement and retirees needing additional funds is a reverse mortgage (seniors loan).

Reverse mortgages allow eligible seniors and near-seniors to borrow up to a percentage of the value of their home or investment property and repay the debt via repayments, or from its sale when they move or pass away. During the loan period, the extra money assists them in achieving their lifestyle goals with greater comfort and peace of mind.

Australia’s largest independently-owned mortgage broker, Mortgage Choice encourages mature ‘asset rich, cash poor’ property owners to review their budget, asset wealth and financial portfolio plans before considering utilising property equity to help finance and enhance their retirement living.

Mortgage Choice senior corporate affairs manager, Kristy Sheppard said “Our ageing population is resulting in a smaller proportion of working Australians supporting a larger proportion of retired seniors. What we may see happening in the near future is retiree living standards declining while medical costs become more expensive.”

“Australians tend to be more lifestyle-focused than those in many other countries and are keen to make the most of retirement years. Working later in life for extra funds is an option, if you can find work. According to ABS underemployment data* for September 2009, 23% of all part-time workers who were ‘available and looking for more hours’ were aged 45 years and over.

“I am surprised reverse mortgages aren’t more popular in this country, given our changing demographic. It would be terrific to see the government provide more support to this area and raise more awareness. When managed and understood correctly, reverse mortgages can be an ingenious option for those wanting greater financial comfort in their twilight years.

“Perhaps we simply need to dispel any rumours and discuss the pros and cons more openly. A number of lending institutions offer these loans, so visiting a reputable mortgage broker is a valuable experience for anyone thinking about utilising their property in this way.

“Of course, there are important considerations to make. First, find out which lenders offer a ‘no negative equity’ guarantee, which means the borrower will not have to repay more than the value of their property. Also remember that, just like other mortgages, interest is payable.

“The prospective borrower should discuss their thoughts with family and other beneficiaries. They should also discuss it with an accountant and/or a financial advisor, to be sure the solution meets their goals and to explore the financial impact. A solicitor should satisfy any legal queries and the impact on Centrelink payments should be researched. Finally, contact a reputable mortgage broker to research the range of suitable products available.

“Retirement should be a time to put up your feet and enjoy those ‘golden years’. If you have the knowledge and the means, why not use some of your property equity to help ensure this happens?”

Call the customer service centre on 13 MORTGAGE, visit www.mortgagechoice.com.au or www.facebook.com/MortgageChoice or http://twitter.com/MortgageChoice.

*ABS Underemployed Workers report 6265.0, September 2009

For further information or to arrange an interview, please contact:

Kristy Sheppard / Belinda Williamson
Mortgage Choice
(02) 8907 0502 / 0407 450 860 / (02) 8907 0472
belinda.williamson@mortgagechoice.com.au

About Mortgage Choice

Mortgage Choice, Australia’s largest independently-owned mortgage broker, has a national network of hundreds of franchises and loan consultants supported by Group and State Offices. It provides loan advice on, and choice of, products offered by an extensive panel of Australia’s leading lending institutions.

A number of the company’s consultants provide a broader service offering, also helping customers source personal and commercial loans, asset finance and risk insurance.

Importantly, Mortgage Choice head office pays franchisees the same commission rate for home loans they write, regardless of the rate paid by the lender selected by a new customer – and has been doing so for most of its 17-year history. The company has no products of its own and works in each customer’s interests to source a loan that suits their individual needs.

Mortgage Choice has no balance sheet or funding risk, and consistently delivers strong profits and attractive yields. The company listed on the Australian Stock Exchange in August 2004 (ASX sign: MOC) and is a member of the Mortgage & Finance Association of Australia (MFAA).

Recent awards/recognition: 2010, 2008, 2006 and 2005 MFAA Awards Retail Aggregator/Originator of the Year; 2009 and 2008 BRW Fast Franchises list; No.1 spot on Top 25 Brokerages list by Mortgage Business magazine; 2009 Australian Banking & Finance Awards Best Financial Institution Employer; 2009 Great Place to Work® Institute Best Companies to Work For list; 2009 and 2008 10 Thousand Feet Top 10 Franchise list; 2008 MFAA Awards Best In Mortgage & Finance Industry.

Visit www.mortgagechoice.com.au or call the customer service centre on 13 MORTGAGE.

Cresswell, 39, was not required to enter a plea and was committed to stand trial on six fraud charges of dishonestly obtaining more than $300,000 from the National Australia Bank through allegedly forged loan applications.

The NAB’s major investigations chief Greg Lemme told the court the allegedly fraudulent loans implicating Cresswell were approved by Mr Dean, who was a business banking manager.

The court was told Mr Dean, who lost his job earlier this month, had accompanied Cresswell on visits to the Sunshine Coast to look at property about four or five years ago.

Magistrate Cliff Taylor said he was satisfied there was enough evidence to commit Cresswell to stand trial on two counts of dishonestly obtaining money in the amounts of $80,000 and $240,000, two counts of forging loan applications and two counts of uttering the forged loan applications.

Full Story