First home buyers missing key step to finance approval
NO GENUINE SAVINGS Borrow up to 90% of the property’s value
show the number of first home buyers, as a percentage of total owner occupied housing commitments, increased to 16.4 per cent compared to 15.4 per cent in August. The REIA says although this proportion is well below the long-run average of 20.1 per cent, it indicates a modest return of first home buyers to the market. ‘The latest figures show that buyers are gradually returning to
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First home buyers are dipping their feet into the market again – a drop in interest rates and reduced property prices renewing buyer confidence for the first time in two years, but many will neglect one vital check which may mean their finance application is rejected. The Real Estate Institute of Australia (REIA) announced recently that housing figures for September
Home Loan Call 0413 276 343
Sophy Graham
Murwillumbah Branch Manager
0413 276 343
sophyg@murwillumbah.mortgagehouse.com.au
133 144
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the market and we should expect modest increases to continue after the decision on interest rates in November which has made housing more affordable for first home buyers,’ said REIA Acting President Pamela Bennett. First home buyers wishing to take advantage of more affordable conditions need to know there is more to applying for finance than wages and savings records. Director of MyCRA Credit Repairs Graham Doessel says a borrower’s credit file is one of the key factors to home loan approval, and anyone applying for a home loan should obtain a credit report prior to making a finance application, regardless of whether they think they have a good credit rating or not. ‘There are a great number of credit files which contain errors or which shouldn’t be there, and first home buyers need to know any negative listing will stop them from getting a home loan
Piggabeen NSW 27 Green Valley Way
in this market, or force them into a high-interest loan, potentially costing them a staggering $22,000 more in interest over the first three years,’ he says. The term of a negative listing is between five and seven years, depending on the type. and can include black marks from telecommunications and electricity providers as well as banks and finance companies. The most common type of listing is a default, which is recorded if an account is in arrears past 60 days. According to Mr Doessel, defaults from telecommunications providers which are listed in error make up a big part of his clientele. ‘As many as 50 per cent of our clients seek credit repair due to bill disputes and internal errors from telcos that have seen them black listed from credit and unable to get a home loan,’ he says. He says it doesn’t need to be a big default to be a big detriment
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to a person’s loan application. ‘Some defaults for unpaid accounts of $300 can stop borrowers from getting a home loan. Lenders are even rejecting loans for too many credit enquiries, such as two enquiries within thirty days or six within the year,’ he says. House hunters can obtain a copy of their credit file, free, every year from one or more of
the credit reporting agencies in Australia, and this file will provide details on any negative listings such as defaults, writs and judgments which may have been placed against their name by creditors. When disputing a negative listing, it is up to the credit file holder to provide reason as to why the creditor has not complied with legislation.
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Auction
6pm (Qld) Wednesday 21st December Currumbin RSL View Private Inspection Brad Franks 0404 051 111 brad.franks@raywhite.com 02 6672 3737 raywhiteruralrealestate.com.au Ray White Rural Tweed Valley
Rural Tweed Valley
Noticeboard
Christmas craft market Tweed Unlimited Arts’ special Christmas sale is on this Saturday and Sunday 9.30am–3.30pm at their workshop in Pioneer Parade. Devonshire teas, pottery demonstration and lots of arts and craft for sale. Free entry.
Toad muster Pottsville will host the Cane Toad Muster this Sunday, December 4. University of Sydney expert Matt Greenlees will join council officers to stage the muster at Koala Beach estate. The event will begin with an information session to show residents how to identify and safely catch cane toads, before they
participate in a group collection of cane toads in the area. The muster, the latest in a series of musters held around the shire to help reduce cane toad populations, will begin at Sugar Glider Drive at 7.45pm (DST). Participants should bring a torch and wear a long-sleeved shirt, long pants and covered shoes. For info call Pamela on 02 6670 2778.
Christmas concert Murwillumbah Philharmonic Choir presents Christmas Bonbons, a concert of Christmas treats, at the Tweed River Art Gallery, Mistral Road, Murwillumbah, tomorrow, Friday, December 2, at 6pm (DST) with sherry and Christmas cakes at 5.30pm. Entry adults $20, concession $15, children $5, tickets available at Andersons Treasure Store, Murwillumbah, or at the door.
Monty is an 11 week old, desexed male (born 14/9/11), Cattle x Staffy pup. He is a friendly, active little dog with a lovely nature and is ready to learn family life. He has been handled by children and gets on well with other dogs. If you can give Monty a permanent, loving home, please phone Yolana on 0449 049 136 or the Friends of the Pound Adoption Booth on 07 5524 8590. Visit www.friendsofthepound.com to view other animals looking for homes.
www.friendsofthepound.com
07 5524 8590
www.tweedecho.com.au
Monty
Kingy ratepayers The next meeting of the Kingscliff Ratepayers Association will be held on Monday, December 5, at 11am (DST) at the Kingscliff Hotel, followed by a Christmas get together over lunch. The initial meeting for next year is on Monday, February 6 at 7pm at the Kingscliff Public School library.
Christmas carols Lions Club Park, Marine Parade, Kingscliff, adjacent to Cudgen Surf Club, on December 15 7pm–8.45pm (DST), a talented line-up of various singers plus the children from Cudgen, Kingscliff and St Anthony’s schools. Drinks and food stalls.
Garden club Murwillumbah and District Garden Club annual presentation and Christmas party at Murwillumbah Services Memorial Club, Sunday, December 4, 11.30am for 12 noon, cost $16.50 per head, bookings to Len on 02 6672 2020. Tweed Coast Garden Association will hold its Christmas picnic at the Boatshed, Casuarina from 10am on December 6. Bring a chair, mug and thermos. Cost is $5pp. To book, call by 02 6676 4402 by December 4. Next meeting on February 14 next year.
Dance workshop A professional integrated dance workshop for people with and
without disabilities will be held December 17 and 18 at Murwillumbah High School 9.30am–5pm. The Heart Beat Dance Workshop is presented by Restless Dance Theatre from Adelaide and ends with a short community performance. On December 16, a masterclass is on offer to any dance teacher or participants, cost for both is $50, for info call Leanne on 02 6672 6965.
VIEW Murwillumbah Evening VIEW Club next meeting will be on Monday, December 5, at Condong Bowling Club at 6.30pm for 7pm start. Come dressed in the theme of a ‘country Christmas party’ and be ready for some fun. If a member cannot attend the meeting or will be bringing a guest, please ring Gloria on 02 6672 3794 by 10am on the Friday prior to the meeting. Coolangatta/Tweeed VIEW Club’s next luncheon meeting on December 8, in the Horizons Room, South Tweed Sports Club, Minjungbal Drive, Tweed Heads at 11am for 11.30am start. Christmas luncheon and entertainment. Visitors welcome, bookings/apologies to Diana 07 5576 7674 before 5pm Monday, December 5. Tweed Coast View Club (Kingscliff to Pottsville) are holding their Christmas luncheon meeting at the Beach Bar, Cabarita on Monday, December 12 from 11.30am. Come along and enjoy the entertainment. AGM to be
held in February. For info call Heather ings Point on Monday, December 5, at 11.30am, with a Christmas celebra02 6670 4013. tion, so please bring a salad or a ZONTA sweet to share for lunch, for info call Joan on 02 6676 4270. ZONTA Club of Southern Gold Coast/Tweed meets 3rd Monday Low cost food of each month in Secret Garden Room, South Tweed Sports Club, 4 Low-cost groceries. Finding it tough Minjungbal Drive, South Tweed. For going? come and see us at Elevation info on community and international Care 56, Caloola Drive, Tweed Heads, projects call Marie-Elise 0412 632 304 Monday, Tuesday and Thursday 10am or Carolyn 0416 637 771. to 2pm. Huge variety and quality food. Bring your bags. For info call 07 U3A 5507 6999. U3A Twin Towns members will Lupus and Sjogren’s entertain at a concert being held at PCYC on December 2 for the entry Lupus and Sjogren’s Gold Coastfee of $2 which includes a cuppa and Tweed Support Group meeting will biscuits. Members to confirm attend- be held on Saturday, December 3, ance at the Christmas party spit roast at 11.30am (DST, 10.30am Qld) at the luncheon on December 9, members Uniting Church, Cnr McLean and $12, for info call before 1pm (DST) 07 Lanham Streets, Coolangatta. Meet 5534 7333. others with Lupus and Sjogren’s for a social chat. New and past members AOOB welcome, tea and coffee provided. AOOB Twin Towns branch Christmas For info call Kelly on 02 6676 2646 or Lupus NSW on 02 9878 6055. meeting will be held on Friday, December 2, at South Tweed Sports Banora Pt community Club, Tweed Heads South at 2pm (DST) in the Secret Garden Room. Banora Point Community Centre Cost $10 includes $5 raffle tickets. senior program has various groups Entertainment by John Bennett. All available on Tuesday afternoons and members and intending members all day Fridays. If you are interested invited to attend, call 07 5536 2653. in card playing, Stretch your Mind, Tai Chi, Mah Jong, scrapbooking, Friendship group art, Scrabble, gentle exercise with weights call Lyn on 07 5523 2030. The St Mary and Ambrose Friendship centre is on the corner of Leisure and Group last meeting for 2011 in the Woodland Drives, Banora Point. Recreation Room at The Point, Hast-
The Tweed Shire Echo December 1, 2011 23