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Saturday, 2-Nov-2013 21:54 Email | Share | | Bookmark
Australian Central Savings & Loans Now People's Choice








NAB raises cost of some business loans





To enable cookies, follow the instructions for your browser below. Enabling Cookies in Internet Explorer 7, 8 & 9 Open the Internet Browser Click Tools> Internet Options>Privacy>Advanced Check Override automatic cookie handling For First-party Cookies and Third-party Cookies click Accept Click OK and OK Click Tools>Options>Privacy<Use custom settings for history Check Accept cookies from sites Check Accept third party cookies Select Keep until: they expire Click OK Enabling Cookies in Google Chrome Open the Google Chrome browser Click Tools icon>Options>Under the Hood>Content Settings Check Allow local data to be set Uncheck Block third-party cookies from being set Uncheck Clear cookies Enabling Cookies in Mobile Safari (iPhone, iPad) Go to the Home screen by pressing the Home button or by unlocking your phone/iPad Select the Settings icon. Select Safari from the settings menu. Select 'accept cookies' from the safari menu. Select 'from visited' from the accept cookies menu. Press the home button to return the the iPhone home screen. Select the Safari icon to return to Safari. Before the cookie settings change will take effect, Safari must restart. <br>For the original version including any supplementary images or video, visit http://www.adelaidenow.com.au/business/australian-central-savings-loans-now-peoples-choice/story-e6frede3-1226082760742





Distressed Debt Buyers Seek Australian Loans as Mining Struggles





The percentage of residential mortgage loans more than 30 days in arrears fell to 1.35 per cent in the September quarter, ratings agency Standard & Poor's said in its latest RMBS Performance Watch report. The result was down from 1.5 per cent in the previous quarter and the lowest level since October 2011, the report said. "This suggests the progressive lowering of interest rates during the past year is taking effect," S&P said in a statement. Some economists were forecasting further cuts in 2013, which should bring further easing in borrowing rates even though Australia's banks have not been passing on the RBA http://commercial12.fotopages.com/ moves in full. On a state-by-state basis, the S&P report found Queensland had 1.63 per cent of loans behind in their repayments by more than 30 days, the highest level in the country. Although this was down from 1.82 per cent in the previous quarter, the report warned that recent moves from the Queensland government to slash public sector jobs and the slowdown in mining investment in the state could affect arrears. Next highest was Western Australia at 1.6 per cent and Tasmania at 1.58 per cent. In terms of specific suburbs, the Nelson Bay area north of Newcastle in NSW, had the highest arrears of all Australian postcodes. S&P said Australia's economic outlook "bodes well for a stable housing-loan market" in 2013. <br>For the original version including any supplementary images or video, visit http://www.smh.com.au/business/australian-loan-arrears-dropping-as-rates-fall-20121227-2bxez.html





Australian loan arrears dropping as rates fall





NAB will increase the liquidity margin that applies on some of its business loans by 20 basis points, from July 30. The bank says the liquidity margin only applies to some market-linked loans that are targeted primarily at mid to large businesses which want to access funding for short periods. NAB says the vast bulk of its small business customers will not be affected by the increase, because they generally use variable rate loans. In an indication the spectre of independent rate rises by the banking sector more broadly has not gone away, NAB says the liquidity margin increase has been driven by rising funding costs. The bank says the interest rate on term deposits is at an all time high relative to the Reserve Bank's cash rate, and that its wholesale funding costs also remain high. NAB's group executive business banking Joseph Healy says the bank wants to keep customers informed about the funding pressures. <br>For the original version including any supplementary images or video, visit http://www.abc.net.au/news/2012-07-24/nab-raises-liquidity-margin-on-business-loans/4151486









We continue to see incumbent lenders willing to entertain the notion of selling their debt positions, Calder said today. While the large debt trading and loan portfolio sales have been well-publicized and sought after, its in the mid-cap space that opportunities may arise in fiscal 2014. Distressed debt buyers are seeking opportunities as demands on working capital, low margins and large project risks are expected to create challenges for mining services companies in the next 12 months, according to the survey. In the last year, debt trading by investors such as Oaktree Capital Group LLC ( OAK:US ), Apollo Global Management LLC ( APO:US ) and Centerbridge Capital Partners LLC have precluded restructurings of companies including Nine Entertainment Group Ltd and Billabong International Ltd. Creative Sector A trust managed by Sankaty Advisors LLC agreed to buy a A$371 million portfolio of loan assets from Lloyds last month, as Britains biggest mortgage lender offloads assets it no longer considers essential. Westpac Banking Corp. and National Australia Bank Ltd. <br>For the original version including any supplementary images or video, visit http://www.businessweek.com/news/2013-09-11/distressed-debt-buyers-seek-australian-loans-as-mining-struggles



Thursday, 31-Oct-2013 13:40 Email | Share | | Bookmark
Red Rock Mortgages Revises Low Doc Loans For Self Employed Perso












There are numerous finance mortgage companies offering low documentation loan products in Australia, but Red Rock Mortgages stands out from the crowd by offering products with least requirements. Since the company also offers other specialized loans, it has been able to use its expertise and resources to streamline many of its product lines including the low doc loan products. Even for an LVR of 80%, all that a borrower needs to produce is a self certification and accountants letter. With just 2 documents, a self employed person can thus borrow money for purchase or refinance. Its quick and does not take much time. On top of this, no mortgage insurance is required and the company even considers cash out in some cases. <br>For the original version including any supplementary images or video, visit content





Low doc loans





FEMALE NEWSREADER (2008): It's alleged Mortgage Miracles obtained investment loans for customers by using http://commercial12.lifeyo.com/blog/ falsely inflated earnings and assets. STEPHEN LONG: But she wasn't alone. And now Kate Thompson is blowing the whistle on the banks that conspired in Australia's own subprime mortgage scandal. KATE THOMPSON: Hook me up and hook them up to a lie detector test and let's talk. I'll lay my evidence on the table. Let's talk, you know? They will fail a lie detector test measurably. They are corrupt, they are protecting each other. STEPHEN LONG: Along with similar claims before a parliamentary inquiry last week, her evidence has the potential to rock the finance industry. <br>For the original version including any supplementary images or video, visit http://www.abc.net.au/news/2012-08-14/australia-faces-its-sub-prime-mortgage-scandal/4196210





7 things you should know about low doc loans





Everyone is eligible Aspirants with impaired credit history or those with poor credit ratings can also avail these services. Although, it requires some extended, if the services give you access to loans, its worth the extra effort. 2. Varied form of interest Although, low doc loans are much easily accessible than standard loans, borrowers might have to shell some extra money in the form of rate of interest. The rate of interest in increased because the risks of loan defaults involved is greater than in the case of normal mainstream loans from banks. The person should be discreet and far-sighted in impending upon the lender that not only offers advance at a lesser interest rate than others in the market, but also charges no supplementary collateral. 3. Require additional security The additional fact that should be kept in mind while accessing low doc loans is that they require extra security. <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/7-things-you-should-know-about-low-doc-loans-07052013.html



Tuesday, 29-Oct-2013 05:30 Email | Share | | Bookmark
Nab Raises Cost Of Some Business Loans








Report due on Japan's Mizuho mob-loan scandal, serious penalty unlikely





NAB will increase the liquidity margin that applies on some of its business loans by 20 basis points, from July 30. The bank says the liquidity margin only applies to some market-linked visit homepage loans that are targeted primarily at mid to large businesses which want to access funding for short periods. NAB says the vast bulk of its small business customers will not be affected by the increase, because they generally use variable rate loans. In an indication the spectre of independent rate rises by the banking sector more broadly has not gone away, NAB says the liquidity margin increase has been driven by rising funding costs. The bank says the interest rate on term deposits is at an all time high relative to the Reserve Bank's cash rate, and that its wholesale funding costs also remain high. NAB's group executive business banking Joseph Healy says the bank wants to keep customers informed about the funding pressures. "NAB is committed to being transparent about our funding costs and explaining the portion of our customers total rate that is attributed to cost of funds," he said in a statement. <br>For the original version including any supplementary images or video, visit http://www.abc.net.au/news/2012-07-24/nab-raises-liquidity-margin-on-business-loans/4151486









Financial comparison website RateCity said Holiday Coast Credit Union cut several of its loan products by 20 basis points, BMC Mortgage reduced several loans by 10 basis points, while IMB trimmed one of its loans by five basis points. "While there have been several rate increases out of cycle, we've never seen lenders drop variable home loan rates while the cash rate remains stable," RateCity spokesperson Michelle Hutchison said in a statement. Since the government announced its comprehensive package of banking reforms in December 2010 to boost competition, smaller banks have captured an estimated $21 billion in home-lending business from the big banks. "We've made it easier for consumers to walk down the road and get a better deal if their bank doesn't do the right thing by them," a spokesman for Mr Swan told AAP on Thursday. Ms Hutchison believes other lenders have room to move. On average they have kept 42 basis points of the Reserve Bank of Australia's (RBA) 175 basis points of official rate cuts since November 2011 from variable home loan borrowers. "If these three lenders can afford to cut variable rates out of cycle, other lenders - including the major banks - have no excuse to sit on their hands," she said. RBA governor Glenn Stevens will likely be quizzed on the cost of funds for banks and how that fits in with monetary policy when he faces federal MPs in Canberra on Friday. In its most recent statements, the central bank has indicated it stands ready to cut the cash rate again if needed given the benign inflation outlook. New data on the Thursday bucked the trend of subdued pressures, indicating that the average wage jumped five per cent in the year to November for an annual salary of $72,592. <br>For the original version including any supplementary images or video, visit http://au.finance.yahoo.com/news/small-lenders-initiative-rates-061210768.html





Small lenders take initiative on rates





Some members of parliament have called for Sato to testify on the affair and, people familiar with the matter say, the FSA is under pressure to appear tough as questions arise over why it did not uncover the shady loans earlier. Finance Minister Taro Aso, who heads the FSA, said on Friday the regulator would decide what action to take based on Monday's panel report. LEFT BEHIND BY RIVALS Sato is expected to hold a news conference on Monday to announce the bank's response. More than 30 executives will take pay cuts, and Mizuho will ask about a dozen former executives to return some of their compensation, Japanese media said. The scandal, in addition to highlighting the pervasive reach of "yakuza" crime syndicates and other underworld elements throughout Japan Inc, highlighted the lapses in corporate governance that Sato himself has been struggling to fix. The bank, 13 years after its formation in a merger during Japan's financial crisis, remains riven by factions associated with its legacy banks: the Industrial Bank of Japan, Dai-Ichi Kangyo Bank and Fuji Bank. The tussling fiefdoms have fostered a culture of protecting turf and refraining from taking broad responsibility for problems, Mizuho bankers say. <br>For the original version including any supplementary images or video, visit http://smallbusiness.yahoo.com/advisor/report-due-japans-mizuho-mob-loan-scandal-serious-210353906--sector.html



Saturday, 26-Oct-2013 21:24 Email | Share | | Bookmark
Social Business: World Vision Australia - See Solutions (apr 201












Sign in Sign in to YouTube Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to dislike The Centre for Social Impact's video. Add to Sign in to YouTube Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to add The Centre for Social Impact's video to your playlist. Uploaded on May 2, 2011 (Apr 2011) Tim Costello, CEO of World Vision Australia, talked about a new initiative to improve incomes within the world's poorest communities. The new fundraising program is called SEE Solutions (Social and Economic Empowerment). It helps provide a 'hand up' rather than a 'hand out', through projects such as education and training, small business loans, co-operatives, and agricultural development. Category <br>For the original version including any supplementary images or video, visit http://www.youtube.com/watch?v=x7lKERyYJ-A





Loan agreements – 6 key clauses to watch





You just have to look a little harder than most people have to. And getting a card after you've had a few problems doesn't necessarily mean that you have a higher than normal rate. Like, I said, you'll just have to compare between credit lines, yearly fees, and interest percentages. Just make sure you do your homework BEFORE you commit, and you'll be fine. You can find some offers for credit cards, both secured and unsecured here: www.consumerbadcreditguide.com/badc... by twv23512653 - 6 years ago A Credit card for people with bad credit is a form of borrowing that often involves charges. So it's wise to compare terms and fees before you agree to open a credit or charge card account. Try looking for a credit card<!--with a low APR. Find out the APR because this is the amount charged to you on monthly balances. badcredits.awardspace.com/credit-ca... Are you overwhelmed with credit card offers and dont know which one is right for you? <br>For the original version including any supplementary images or video, visit http://smallbusiness.yahoo.com/advisor/answers/credit-20070815063536AADpcIK.html





Is there any banks in Australia that do small credit card loans to people with bad credit? in australia?





Investment loans from individuals are usually not more than $25.00, but as you can see, a lot of little, adds up to a lot of good. ________________________ About Kiva.org Kiva is a non-profit organization working to alleviate poverty by connecting people around the world through microlending. With as little as a $25 loan, anyone can help a borrower create new opportunities for themselves and their family. Together with more than 870,000 Kiva lenders and a worldwide network of microfinance institutions, Kiva has created economic opportunity for more than 950,000 borrowers. Since its inception in 2005, Kiva lenders have funded more than $390 million in loans with a 98.9% repayment rate. Visit www.kiva.org for more information. About Capital One Capital One Financial Corporation, headquartered inMcLean, Virginia, is a Fortune 500 company with approximately 1,000 branch locations primarily inNew York,New Jersey,Texas,Louisiana,Maryland, Virginia, and theDistrict of Columbia. Its subsidiaries,which include Capital One, N.A., and Capital One Bank (USA), N. A., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. We apply the same principles of innovation, collaboration and empowerment in our commitment to our communities across the country that we do in our business. <br>For the original version including any supplementary images or video, visit http://communities.washingtontimes.com/neighborhood/doing-good-world-stories-those-do/2013/jan/10/kivaorg-and-capital-one-bank-fostering-small-busin/





Watchdog asleep on Australia's sub-prime scandal





A date for Senate hearings is yet to be set. ASIC and the banks have long argued that any irregularities that Denise Brailey has identified were the fault of rogue mortgage brokers. Further, they have claimed the problem is contained to low-doc loans (usually for small business). However, Braileys submission found that 36 per cent of all toxic loans had been arranged directly by bank officers, with no broker involved. And 18 per cent of all toxic loans were full doc loans, arranged by banks and not brokers. The overall numbers in Braileys survey are large and involve complaints against most banks and mortgage providers. The survey is taken from almost 800 loans, involving almost 1,200 people (many are couples) who have failed to get a response through official channels and came to her for help. The bulk of the claims pertain to the Big Four ANZ, Westpac,CBAand National Australia banks who dominate the mortgage market. <br>For the original version including any supplementary images or video, visit http://www.smh.com.au/business/watchdog-asleep-on-australias-subprime-scandal-20131024-2w323.html





Kiva.org and Capital One Bank fostering small business micro-loans



http://commercial12.posterous.com/run-an-effective-home-business-with-these-tip

Commitment Simple loans are generally committed, which means that as soon as the two parties enter into the loan, the borrower has the right to draw down on it. More complex loans, however, are uncommitted, which means that the borrower has to provide certain documents and information (known as Conditions Precedent) before the loan can be drawn down on. 4. Prepayment If you enter into a loan agreement and later find a cheaper source of funds, youre obviously going to want to be able to repay the loan as quicly as possible using the cheaper funds. In order to do this, you need to have a prepayment clause drafted into the loan agreement. Sometimes there will be a prepayment fee payable if you choose to prepay. Obviously as a borrower you will want this fee to be as low as possible 5. Security Many loans are either secured against the assets of the borrower, or require the borrower to provide a personal guarantee . As a borrower, its in your best interests to not provide security, however you are likely to have to pay a higher interest rate if the loan is unsecured. 6. <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/loan-agreements-6-key-clauses-to-watch-12092013.html



Thursday, 24-Oct-2013 08:26 Email | Share | | Bookmark
Small Lenders Take Initiative On Rates












Treasurer Wayne Swan said the cuts were a sign that the federal government's banking competition reforms are working. Financial comparison website RateCity said Holiday Coast Credit Union cut several of its loan products by 20 basis points, BMC Mortgage reduced several loans by 10 basis points, while IMB trimmed one of its loans by five basis points. "While there have been several rate increases out of cycle, we've never seen lenders drop variable home loan rates while the cash rate remains stable," RateCity spokesperson Michelle Hutchison said in a statement. Since the government announced its comprehensive package of banking reforms in December 2010 to boost competition, smaller banks have captured an estimated $21 billion in home-lending business from the big banks. "We've made it easier for consumers to walk down the road and get a better deal if their bank doesn't do the right thing by them," a spokesman for Mr Swan told AAP on Thursday. Ms Hutchison believes other lenders have room to move. On average they have kept 42 basis points of the Reserve Bank of Australia's (RBA) 175 basis points of official rate cuts since November 2011 from variable home loan borrowers. <br>For low doc loans Sydney the original version including any supplementary images or video, visit http://au.finance.yahoo.com/news/small-lenders-initiative-rates-061210768.html





Bank wars: what’s in it for small business?





The deal will refinance an existing $6 billion loan that was put in place in November 2010, the sources said. Rio Tinto could not immediately be reached for comment. Proceeds from the existing $6 billion loan refinanced remaining debt from Rio Tinto's $40 billion acquisition of Canadian mining company Alcan, repaid some maturing bilateral loans and also was used for general corporate purposes. That loan was increased from $5 billion after a successful syndication. Pricing on the existing loan is based on a ratings grid. Pricing initially opened at LIB+65 basis points for a current rating of BBB+ from Standard & Poor's, according to Thomson Reuters LPC data. Deutsche Bank and Royal Bank of Scotland were global coordinators on the deal. Rio Tinto is listed in London and New York, and Rio Tinto Ltd is listed on the Australian Securities Exchange. <br>For the original version including any supplementary images or video, visit http://smallbusiness.yahoo.com/advisor/rlpc-rio-tinto-launch-8-billion-refinancing-wednesday-182259860--sector.html





RLPC: Rio Tinto to launch $8 billion refinancing Wednesday





With whispers that the onslaught has only just begun, this space could soon get very interesting. So far, unless you are refinancing your home loan, the benefit is not obvious, but Westpac has already indicated its out to woo business customers and, as confidence increases, is looking to amp up the competition for business credit and business loans. There is a link between home loans and business transaction accounts, however. Business people tend to keep the same provider for both home loan and business transaction accounts so the NAB grab at the home loan market is also an indirect grab for the business customer. As things pick up for business small business owners are less likely to self fund any cashflow shortfalls from their mortgage, instead opting for a line of business credit, overdraw facility on their business account, or business loan. No wonder the Commonwealth Bank head of retail banking, Mr Ross McEwan, has come out recently to publicly state that CBA is planning to hold its position as the number one bank in the Australian mortgage market, while Westpac is trying to make it easier for mortgagees to switch. So if youre a business owner, and youre in the market for a mortgage, dont be afraid to haggle. <br>For the original version including any supplementary images or video, visit http://www.dynamicbusiness.com.au/finance-cash-flow/bank-wars-whats-in-it-for-small-business-2322011.html



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