Mortgage Brokers to Operate Under New Licence

New laws came into force last month, where anyone engaged in credit advice on home loans in Australia must be registered with ASIC under the National Consumer Credit licensing regime. All mortgage brokers who are registered and want to apply for a licence must do so by 31st of December 2010.

Part of the new regulations will include the requirement of preparing a statement of advice for clients, to assess their suitability for finance. Brokers are a major part of the finance industry and play an even more influential role in the provision of home loans. At Optim Financial we believe these new laws and legislation are a great step forward for our industry. The requirements are essential in providing our clients with greater protection and can only add to the professionalism that you experience at Optim Financial.

Off the Plan properties

Optim Financial is delighted to announce we now have an alliance with several high profile property developers throughout Victoria. Through these alliances we will have an opportunity to offer boutique, off the plan property developments that we believe will be suitable for our client base. There are a number of advantages with purchasing off-the-plan properties and these include:

Immense stamp duty savings
Great diversity
Substantial tax breaks
Excellent depreciation schedules
Current market price for property completed in future
Maximum depreciation benefits applicable to the property
Opportunities to on-sell the property before settlement has been formally finalised

In the coming months we will upload details of available properties for sale as and when they arise.

Investors back in the Market

Figures by Australian Property Monitors show house prices grew by 2.4 per cent in the three months to June, with evidence that investors are throwing money at the affordable end of the market. According to Jason Anderson, senior economist at BIS Shrapnel, Melbourne, leading the nation with 4.4 per cent growth in house prices for the quarter, has had the most benefit from investors over the past 12 months. With the decline of the first-home buyer stimulus and resilience to rising interest rates, investors are playing an even bigger role in the market, taking the place of owner-occupiers at lower price ranges.

We are all aware that capital returns vary according to the market in which we invest and property chosen in the correct location can offer excellent returns. At Optim Financial it is our aim to make your property investment plans become a reality. If you would like to discuss the opportunity to purchase an investment property please contact us.