Finance Broker Australia Home Loan Broker

With several lenders withdrawing from the market & others tightening their credit criteria, Ability Finance Brokers still have access to lenders offering a wide range of commercial finance, for both clean credit & credit impaired borrowers.

Clean Credit

• Fully Verified Loans to 85%
• Alternative Verification loans to 80%
• Low Doc Loans to 75%
• No Doc Loans to 65%

Credit Impaired

• Fully Verified Loans to 70%
• Alternative Verification Loans to 70%
• Low Doc Loans to 70%

There’s nowhere to hide.

It doesn’t matter what Federal Treasurer Wayne Swan says, does or for that matter, what colour he turns, funding costs are what they are and even relatively safe, well capitalised Australian financial institutions are simply paying higher margins to obtain funds and they are passing it on.

When will it end? Not even PB16 reflecting on Australian cuisine from his retreat out at Kenthurst can tell us that but we’ll have a go.

Variable and fixed rates have continued to trend down over the last week with BBSW30 down now to 7.5583% and BBSW90 down to 7.7667%. The 30 day rate is starting to get back towards what we would view as a workable premium over the official cash rate but the 90 day rate is still stubbornly high, although certainly a lot better than it has been.

Some fantastic news to kick off the financial year!!

Low doc commercial property loan to $1,000,000

· Available for individual and non-personal borrowing entities (Pty Ltd or Discretionary Trust).

· ABN registered for at least 24 months.

· GST registered for at least 12 months

· Line of credit capped at $500K (maximum loan amount- can mix products to obtain $1M total loan)

· Same rates as fully documented loans

· 6 months trading statements are required (previously 1 month)

The 30 day rate continued to close the gap with the cash rate and dropped 7 basis points this week to 7.5917%. The 90 day rate went lower over the last seven days but blew out again to end up precisely where it was his time last week at 7.8167%.

Fixed rates are down and range between 7.85%-8.06% over the One-Five Years, a drop of an average 15 basis points.

As fearlessly, or recklessly, predicted, variables rates have continued to settle down with both the 30 day and 90 day rates dropping slightly again this week to be placed at 7.6617% and 7.8167% respectively.

Rates continued to boil upwards early last week and then fell backwards sharply to where they began the week. Fixed rates also fell back and are now slightly below where they were at the time of the last report.

BBSW30 is at 7.6900% with BBSW90 at 7.8467%. In a rising to high interest rate climate, this gap of about 0.15% between the 30 day and 90 day rates is roughly where the “normal” split has been over time.

Fixed rates are ranging between 7.98%-8.14%.

Just when you thought it was safe to go back in the water (cue the Jaws music), interest rates have risen sharply in recent days on a tide of veritable economic woe.

We even have some economists reviving Paul Keating’s infamous “Banana Republic” warning amidst stronger than expected economic growth, rampant oil prices and signs of inflation becoming entrenched, perhaps even verging on stagflation. Well hold my elephant gun Minnie, the sky hasn’t fallen in just yet. Has it? Expect some normality and stability to resume over coming days.

Over the last week, the BBSW30 & BBSW90 rates continued to close the gap with the official cash rate only to blow out again by Thursday. So we are more or less where we were seven days ago with touch of nervousness replacing the short lived confidence.

BBSW30 is currently 7.5000% with BBSW90 at 7.7867%.

Variable rates held steady again this week with both the 30 Day and 90 Day rates tightening a fraction to now sit at 7.5700% and 7.7717% respectively. There certainly seems to be a greater stability surrounding the bank lending rates in recent times but the gap between these and the official cash rate remains stubbornly high.