CFC Finance in Parramatta, New South Wales | Investing service

CFC Finance

Locality: Parramatta, New South Wales

Phone: +61 1300 855 322

Address: 20 Charles St 2150 Parramatta, NSW, Australia

Website: http://www.cfconline.com.au

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25.01.2022 Last week, the government introduced legislation to implement the First Home Loan Deposit Scheme, a key part of its federal election campaign earlier this year. The scheme helps first home buyers enter the property market sooner, by providing 10,000 elgible Australians per year access to a home loan with a deposit of as little as 5%. The legislation outlines income tests to assess first home buyer eligibility in the program, as well as modest dwelling price limits. To implem...ent the scheme, the National Housing Finance and Investment Corporation (NHFIC) will contract with a panel of lenders rather than ever having direct contact with borrowers. As such, lenders or mortgage brokers will assess scheme eligibility alongside the normal considerations of seeing a borrower through the loan process, such as loan serviceability tests. Therefore, the scheme has compliance costs for lenders and mortgage brokers, estimated at $2.17m per year. Lenders, before offering the guaranteed loans, will need to update their internal systems and train front-line lending staff, including on how to apply the eligibility criteria. Non-participating lenders will not face any additional regulatory costs, and lenders are able to choose to participate only if they feel that the commercial benefits of participating in the scheme offset the associated regulatory costs. For mortgage brokers to offer the guaranteed loans to clients, it will require training or self-education, the details of which have yet to be provided. The legislation also establishes a reserach function of the NHFIC to examine housing demand, supply and affordability within Australia. Since preliminary consultations were initiated in late May 2019, a broad range of stakeholders in the home loan process including lenders, industry associations, mortgage brokers and financial regulators have been able to weigh in. The Customer Owned Banking Association (COBA) has welcomed the legislation. CEO Michael Lawrence said, There are many customer owned banking institutions that are eager to be a part of this scheme after the Government said it would prioritise smaller lenders to help boost competition. Customer owned banking institutions have a long tradition of helping first homeowners enter the property market. Australias customer owned banking institutions are excited to work with Government to help more Australians enter the property market." with thanks to Australia Broker

25.01.2022 Is growing your wealth a 2019 resolution for you and your family? Join us for a drink and discussion about winning in the finance and property market in 2019. This is our first event for 2019 and we are excited to have another great guest speaker discussing SMSF and the pros and cons. ... Book now to secure your spot on the link below, and give your specialist finance team a call on 1300 855 332 to discuss your plans for winning in 2019.

23.01.2022 Important information regarding the impact of Coronavirus on business. At CFC we love helping families, and at this time more than ever, we are committed to supporting you and you family in every way we can. Whilst there will be significant uncertainty in the coming weeks and months if there is one thing that my experience tells me is that it is those people who remain calm and patient in this period who will navigate this uncertainty the most effectively. ...Continue reading

22.01.2022 A sign of things to come for investors? https://m.brokernews.com.au//investor-rates-on-their-way-d

21.01.2022 Whilst talk is good, action is better Mr Frydenberg. Give consumers and brokers certainty around variable expenses and give the second tier lenders the right to assess risk appropriately. Otherwise you will continue to see lending shrink which will ultimately affect not only property and the construction sector, but most importantly, small business. The regulations have served their purpose. Now its time to allow the market to move again. ... https://www.brokernews.com.au//treasurer-calls-for-sensibl

21.01.2022 Will the RBA cut rates today? Speculation is no, however, this article makes a good case for negative interest rates. Phillip Low ruled out printing money 6 months ago, so will they back flip on negative interest rates in the next 6 months too?... https://www.afr.com//the-rba-is-firm-on-negative-rates-but

21.01.2022 Happy Correction Anniversary!!! https://www.corelogic.com.au/septemberhomevalueindexresults

20.01.2022 Where are people moving to? Population growth is one of the primary drivers of demand in property. The QBE Housing Outlook Report provides insight into near term population growth expectations state by state. Its a great piece of research for those who are holding property portfolios and also those who intend to purchase property in the coming 24 - 36 months.... Wether your interest is residential or commercial the state of migration both, into the country, and across state borders has a direct impact on capital values. https://www.qbe.com/lmi/news/reports/housing-outlook?

19.01.2022 This puzzle costs $200,000 and nobody can figure it out. Do you think its similar to Bank credit policy at the moment? https://youtu.be/EzZXHEM5LFA

19.01.2022 APRA trying to make it easier for investors! Good morning, recapping the APRA changes in 2018, what is in store for 2019? Contact us on 1300 855 322 or email [email protected] to discuss your individual needs with Kyle Manson or one of our team.

18.01.2022 As the finance sector continues to be conservative in its approach to lending as directed by the regulators the result is a continued correction in major markets. The main focus for borrowers remains keeping a tight grip on your expenses, maintaining positive cash flow and continuing to review your portfolio. https://www.google.com.au//sydney-s-housing-market-downtur

18.01.2022 Why is Chinas National Party Conference, starting today, so important for you to pay attention to? https://www.lowyinstitute.org//prospects-china-s-post-covi

17.01.2022 Some Friday afternoon humour!

16.01.2022 What is open banking, and why is it a game changer in you favour? https://www.abc.net.au//shift-opens-open-banking-/11108496

16.01.2022 Another Covid-19 stimulus, this time for first time buyers of new properties, reductions in stamp duty up to $1,000,000 purchase. This includes a pause of the full stamp duty up to $800,000 purchase price. Great time for first home buyers to contact us to see how this could help your family!... https://www.smh.com.au//stamp-duty-paused-for-nsw-first-ho

13.01.2022 What do you think? This was the question we where asked when speaking with a client who is selling in Epping NSW, the agent told her that she should be able to realise $1.75m when she listed 8 weeks ago, she is now asking our opinion if she should accept a signed contract at sub $1.5m. What do you think? Should she take it? ... https://www.corelogic.com.au/n/augusthomevalueindexresults

11.01.2022 The fact that international borders are shut, we know that people that are probably saving for deposits for homes would have been planning to go and spend maybe a month in Europe or maybe a month in the US spending $10,000, $15,000. Now they cant do that. Perhaps they now consider bringing forward the purchase of a property or bringing forward the purchase of an investment property because they have this cash sitting here. Theyve probably got a little bit of savings already in place, and the cost of borrowing is so low at the moment, Mr Kusher concluded. https://www.smartpropertyinvestment.com.au//21509-how-worr

11.01.2022 COVID-19 and your finances - https://mailchi.mp/4d004dfd5a5a/covid-19-and-your-finances

11.01.2022 Today, we gained further evidence of stabilising in dwelling prices. Dwelling prices across 8-capital cities edged up 0.1% in July. While this was a small increase, it was the best result since August 2011. Dwelling prices in both Sydney and Melbourne have increased for two consecutive months, providing a clearer indication that prices in these two capital cities have bottomed out. ... The stabilisation in prices was more broad-based across capital cities in July. Five out of the eight capital cities recorded increases, including Brisbane (0.2%), Hobart (0.3%) and Darwin (0.4%), along with Sydney and Melbourne (both rising 0.2%). The two rate cuts from the RBA and clarity over housing tax policies after the Federal election have translated into a major turnaround in sentiment within the housing market. Stronger interest in the housing market has also been reflected in higher auction clearance rates in Sydney and Melbourne. In annual terms, dwelling prices in all capital cities declined in July, except for Hobart and Canberra. Recent rate cuts from the RBA and the prospect of more to come will continue to support the housing market. A return to the strong price growth over 2012 to 2017 is UNLIKELY any time soon. Slow income growth and high household debt levels will likely prevent a sharp turnaround. However, it would seem that the housing market is performing better than expected and a mild recovery could come sooner than previously thought. The litmus test will be the spring selling season. With thanks to St George Banks Economics Team.

10.01.2022 Come join Kyle Manson and the CFC team for a night of Education and networking. Click below for more details. We will be joined by Search Party Property - Buyers Agents with Luke Moroney presenting on the property market.

08.01.2022 Rents to increase? Values to decrease? Have a look at what rent and values might look like under Labours proposed changes according to modelling by SQM. https://www.smartpropertyinvestment.com.au//19344-what-ren

08.01.2022 https://www.brokernews.com.au//report-shows-dramatic-shift

08.01.2022 Housing sales activity slumped during the housing downturn, however the recent trend shows turnover has levelled out as home values rise and mortgage rates reach the lowest level since the 1950s. While housing sales activity slumped during the housing downturn, the recent trend shows turnover has levelled out as home values rise and mortgage rates reach the lowest level since the 1950s. Although the housing market appears to have moved through the bottom of a near two year...Continue reading

06.01.2022 What lies ahead for residential property markets? Our friends at CoreLogic provide their data driven insight below. https://www.corelogic.com.au//property-market-2020-what-li

05.01.2022 The Morning Economic Report. Main Themes: Data showing a cooling US economy was largely overshadowed by trade war speculation. US shares fell after a report suggested that the US was considering blocking Chinese companies from listing on US stock exchanges. Share Markets: US share markets ended the week lower amid reports that the Trump administration could be considering delisting Chinese companies from US exchanges. The Dow Jones lost 71 points (or 0.3%) while the S&P 500 f...Continue reading

05.01.2022 https://www.brokernews.com.au//asic-clarifies-expectations

05.01.2022 The Reserve Bank has kept official interest rates sitting at 1.5 per cent ever since August 2016 which represents the longest period of cash rate stability on record. Although official interest rates havent moved over this period, investors who have been an increasing source of mortgage demand over recent years have been incurring higher mortgage rates since 2015 as lenders charge a premium for investment loans. https://www.mortgagebusiness.com.au//12517-can-the-housing

03.01.2022 https://www.corelogic.com.au//coronavirus-and-australian-p

03.01.2022 The newly released NSW 2019-20 budget has allocated a staggering $93b towards infrastructure related projects to be completed over the course of the next 4 years. $32b will go towards public transport, $23b towards new road construction, and $37b is allocated towards water, energy, housing, schools and hospitals. I Other major developments include... A new M5 tunnel of 7.5km as a link between the M4 and M5, establishing a much needed city bypass by 2023. $6.4 billion over a four year period dedicated to accelerating construction efforts for the Sydney Metro West. $2 Billion will fund the construction of the North South Metro Rail Link that connects to the new Western Sydney Airport. $99 Million for the integration of smart technologies including digital parking, virtual in-car and GPS messaging, clearway signage and intelligent traffic light installation. Last weekend the first Westconnex M4 East tunnels opened. They are 6.5km long and run from Harberfields Wattle Street to the existing M4 at Homebush, skipping 22 sets of traffic lights. A further $4b across 3 more major projects is planned and will slash commute time to and from Western Sydney and take up to 10,000 trucks a day off Parramatta Road.

02.01.2022 Consumer confidence is slowly starting to build, auction clearance rates are genuinely improving, access to credit is improving, property prices are low, interest rates are low. Although access to interest only lending and equity release is still impacted by the macro prudential changes that where put in place, the changes to servicing rates will give borrowers more capacity. We believe that now is a good time to start to talk about your strategy for the next phase. ... https://propertyupdate.com.au/this-weekends-auction-resul/

02.01.2022 Good news for small business owners. With the recent eligibility criteria extension for the instant asset write-off scheme, businesses with a turnover of up to $50 million can now immediately write off depreciable assets that cost less than $30,000, helping offset the cost of investing in new equipment. If youd like to know more about securing finance for new assets or equipment before the end of financial year, call us today. To find out more about the instant asset write-...off scheme, click on the link below: https://www.ato.gov.au//Instant-asset-write-off-increased/ *This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax and accounting advisors before engaging in any transaction.