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Why won't the banks ever learn?

 

There's little doubt the biggest winners from the GFC have been the major banks. While the bank's have continued to cry poor about their margins and cost pressures their profits have remained largely unaffected. And they have been on one of the biggest spending sprees in the last decade, gobbling up smaller players including:

 

  • St George
  • BankWest
  • RAMS
  • Aussie Home Loans
  • Challenger
  • Wizard Home Loans

 

As borrowers got nervous about the end of the world the banks also picked up the lions share of loans written nationally. But of course rather than being appreciative of the support from customers they are now taking the opportunity to tighten their lending criteria, increase their rates above the RBA and start increasing fees. It seems one thing we can always rely on the banks for is short term thinking when it comes to their customers.

 

But this negative is actually a positive for you because it opens the door for competition. There are a number of high quality non-bank lenders who have ridden out the storm and now providing the market with competitive pricing, innovative products, fast turn around and personalized service.

 

This is evidenced from the date in Australian Financial Groups Mortgage Index for February which showed 17% of all loans written were by non-bank lenders. For investors focused on building their portfolio we believe the non-bank area should be an essential part of an investors funding mix. Just as it is important to have balance in a portfolio the same applies to the lending.

 

And having all your eggs in one basket can restrict flexibility.

 

Are you interested in?

  • Paying off your home loan and reducing personal debt?
  • Reducing your tax?
  • Creating wealth?
  • Having a plan for the future that will give you financial security and independence?
  • Replacing your income with a passive income stream?
  • Learning how to turn $80 a week into $300,000 - $400,000 in the next 10 years?

 

If you are then get started by completing our Property Plus Customer Action Form 

 

  1. MTA will conduct an initial financial review to determine your capacity and readiness to commence your financial plan
  2. If you have capacity to invest we will arrange for you to meet with our Property Investment Specialists for an initial overview and needs analysis.
  3. If you agree to go to the next step this will be followed by an in depth analysis of specific properties, investment performance, and tax-effectiveness for your specific situation, including recommendations and provision of investment report.  

Complete the Property Plus Customer Action Form  today.