Wizard with presents blue
Merry Christmas & Happy New Year
From Adrian Williams & Lightning Fast Home Loans
Welcome to our Christmas Newsletter,
Very soon we'll all be celebrating that most long-awaited and popular holiday of the year. Its magic spirit has prompted us to offer you a holiday greeting, news from 2010 and the year ahead.
Xnas present blue
House Jigsaw
Lightning Fast Home Loans
Christmas Edition

New ASIC Credit Licensing laws come into effect on
Jan 1st and we're already licensed!

Lightning Fast Home Loans was granted a full Australian Credit License on 17th Dec 2010 (ACL number is 389498) and will now go proudly into the New Year fully compliant with the National Consumer Credit Protection Act.
The Act requires us to observe Responsible Lending practices and assures our clients that we’ll always serve them “efficiently, honestly and fairly”.
We trust that this has always been the case anyway!

A Challenging & Volatile 2010
Whoa, what a year it has been! Under intense scrutiny all year, the Reserve Bank lifted official cash interest rates by 0.25% in four months (March, April, May & November), and leaving them unaltered in the other eight months, making the overall official annual increase 1%. However two significant factors impacted on the mortgage industry that exacerbated the effect of this factual data. Firstly the last three months of 2009 had already seen consecutive 0.25% rises (the first time in history this had happened) and then many of the banks changed the face of the industry by increasing their rates significantly more than the 0.25% RBA rise in December 2009.
What this meant…
This has made the general public particularly sensitive to media comment and the spectre of massive rate rises tended to dissuade some people from purchasing a property or increasing their investment portfolio. In fact the scare-mongering seen in some areas of the media undoubtedly exaggerated the likelihood of ever-increasing interest rate hikes, although the banks again gave customers an unwanted Christmas present last month by raising rates above the RBA official increase once more. They argue the cost of funds is the reason for these additional increases, but it does seem now that they have returned their margins to acceptable levels.
So, what about 2011?

The events of 2010 have highlighted the absolute importance of seeking good advice and undertaking an appropriate review of your home loan or investment loans to ensure that you are achieving the best possible outcome. The new provisions of the NCCP Act will mean any review will require a more thorough assessment of a borrower’s current and future circumstances – with additional documentation needed before a lender will be able to accept an application for a new loan or the refinance of an existing loan.

I look forward to assisting you in 2011 and, as always, will really appreciate any referrals you can make to family, friends, colleagues and acquaintances.

Don't let the magic pass by, this Christmas enjoy every minute of the festive season and may you and your family have a safe, peaceful and happy start to the New Year.

Best wishes for the season,

Adrian Williams
Principal and Accredited Mortgage Consultant
MFAA Full Member 8202
Lightning Fast Home Loans (ACL 389498)

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Phone: (03) 9417 4918
Mob: 0418 526 404
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E: admin@lightningfasthomeloans.com.au
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500 Victoria Parade,

ABN 95 865 117 889

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This document is issued by Lightning Fast Home Loans (ABN 95 865 117 889).
The information contained herein is about our services and contains information of a general nature that is not intended as financial advice. Because this information does not take into account your specific needs, you should consider your personal position, objectives and requirements before taking any action.