WHAT IS A POWER OF ATTORNEY?
What is a Power of Attorney
Power of Attorneys
An enduring power of attorney (financial) is a legal document where you (the donor) give someone (the attorney) the power to make financial and legal decisions for you like managing your banking, your property or paying the bills. Enduring means the power continues (endures) even when you are unable to make these types of decisions for yourself.
Why would you give someone this power
It is the only way you can have control over who will make decisions on your behalf if you are ever unable to do so yourself.
FIRST-HOME BUYERS RECEIVE
FIRST-HOME BUYERS RECEIVE $12,000 CASH BONUS.
All Victorian first home buyers who qualify for the Government s $7,000 First Home Owner Grant (FHOG) will be eligible for an additional $5,000 grant paid by the Victorian Government known as the First Home Bonus. This brings the total Government grants available to Victorian first home buyers to $12,000.
The First Home Bonus will be available for Victorian properties where the contract is entered into on or after 1 May 2004 and before 1 July 2005, and where the consideration paid under the contract is no more than $500,000.
2 MOVIE TICKETS TO VILLAGE GOLD CLASS!
Do you think you have the most delicious and tastiest
recipe for diabetes sufferers Whether it s diabetic
sweet or savoury, email the recipe to us at the offices
of Lending Specialists by 31st July 2004. If your entry
is chosen as the winner by our celebrity taster you
will receive two movie tickets to Village Gold Class!!! The winner s recipe will also be published in the next newsletter.
So let s get cooking. Email:
glenn@lendingspecialists.com.au
NON CONFORMING LENDERS
WHEN YOU DON T MEET THE TRADITIONAL LENDING
CRITERIA IT S NO LONGER THE END OF THE ROAD
NON CONFORMING LENDERS ARE THE NEW KIDS ON THE BLOCK AND ARE HERE TO HELP.
Often scenarios are the best way to illustrate non-conforming loans
consider the following deals as examples of where Non Conforming lenders have written business in the past:
1 Property investor seeking to replace 3 year 9.5% p.a
interest-only solicitor funding with 30 year P&I at a lower rate;
2 Small businessman without full financials looking to raise working capital for his business using equity built up in an investment property;
3 Parents of a convalescing child have mortgage arrears and need to settle health-care bills relating to the treatment and are looking to refinance;
4 Experienced tradesman wishes to start his own business, and needs to raise seed capital from appreciation equity in his property;
5 Heavily credit impaired (from prior business failure) selfemployed woman needs to move house and re-mortgage for family reasons;
6 Young couple with good equity in their property, carrying 20% of their household debt on credit cards, store cards and a personal loan at 20% p.
WHAT MAKES PROPERTY RISE AND FALL
During a period of rising house prices, construction of new property increases dramatically, as developers have
increased potential for higher return. Nobody tells developers to stop, so they keep building as values are rising in the strong market, until at some point there
will be more dwellings built than there are people to occupy them.
Accordingly the market will stall and values level off, which causes the rate of new construction to decline. Meanwhile the population still increases, with first
homeowners and others continuing to enter the market.
DIABETES TO 5-YEAR HIGH
NATIONAL HEALTH SURVEY SHOWS INCREASE IN DIABETES TO 5-YEAR HIGH
Diabetes now affects more than 554,000 people (2.9%
of the population) according to the Australian Bureau of statistics. That s quite an increase when compared with an estimated 355,000 people diagnosed (2.4% of the population) in 1999.
The ABS reported that 78% of those people had Type 2 (adult onset) diabetes and 17% reported type 1, (insulin dependent) diabetes, with 5% reporting diabetes but not knowing which type.
The proportion of males and females diagnosed with diabetes were similar at around 3%.
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