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Originally established in Brisbane in 2002 before expanding to Caloundra in 2004, trading under the name of Cooper Financial Connections (Sunshine Coast) it  will open an office servicing Sydney and the ACT this month.

Managing Director Peter Cooper said it was an exciting time of growth for the business.

“An opportunity presented itself to build the business interstate and we are very much looking forward to offering our tailored information on borrowing and wealth creation opportunities to  a new client base,’’ Mr Cooper said.

The office’s Managing Partner, Michael Auer , is the former head of Customer Securitisation for St.George Bank .

Mr Cooper said broking firms and banks had redefined their relationship in recent times as the major banks struggled to attract new mortgage business through their branch networks.

It is common knowledge now that the majority of new business written in banking is through qualified Mortgage Brokers (often with Credit Adviser status).

“More than ever before we have the banks coming directly to us because they know we are out there on the street representing people from all walks of life.

“The banks are competing hard against each other which is healthy, however banks do not have up to date information on competitor products or services.

For example , does a clients  bank  have a “  market disruption clause “  in its documentation or will that bank  remove that clause on  a case by case basis , or does the competitor bank down the road not have this clause in its documentation at all.

“That’s where an accredited broker is vital, someone who can do the groundwork for a client so they can compare mortgage products and make an informed decision about staying with their existing bank or choosing an alternative lender,’’ he said.

Mr Cooper said brokers and banks were operating more at a partnership level these days because the branches and lenders realised that the brokers bring the majority of new and profitable   business in their doors.

“Now is the ideal time to talk to your broker because the banks are keen to write loans and are coming to us with some impressive offers,’’ he said.

For example a number of major banks are offering to pay up to $40,000 in transition costs for commercial clients to refinance their business lending with them, for a limited time.

“The banks are prepared to sit down and talk with good clients who are banking with other institutions, and put their hand in their pocket to obtain  their business,’’ he said.

As the table numbers are strictly limited to sixteen (16), I urge you to call Georgie Benham, Corporate Events Executive at Variety Queensland and book your table (or individual seat) as soon as possible on 3907 9300 as bookings will be accepted on a ‘first in, first booked’ basis.

I am very confident that your clients will find the speakers very informative and the information will assist in formulating investment and business strategies!

Click here to view Don Stammer’s Profile.

When articles like the recent one in the Sunday Mail are published (read it here), they remind us in detail what profits the big 4 banks are earning, and what procedures they adopt to earn these profits and keep their shareholders happy, it makes it even more important to ask yourself this question “is my bank looking after my best interests or theirs?”

In many cases, the answer will never be known, because many clients are loyal to their bank and just accept what they have been offered without questioning and researching what they could save if they considered a switch to a better loan product. This may mean even staying with their current home loan provider.

A mortgage broker can provide majority of the answers, because unlike your current lender, a broker can access a very wide range of other lenders and their products, complete a full analysis on which loans would be most suitable for your circumstances and finally recommend the one that should be the most appropriate.

Article – Sunday Mail – 7th October 2012 

The Reserve Bank has reduced the official cash rate by 25 basis points to 3.50% as at 5th June, 2012.

The RBA have made their decision based on a number of key indicators including stagnating global growth levels and falling employment in the US. Manufacturing activity in Chinabarely grew in May and fell to a three year low in Europe.

This is welcoming news for consumers, retailers and particularly for everyone thinking of buying or selling property. Existing borrowers also should consider testing what their current lender is offering, simply because their is so much competition between most of the banks and other lenders. Borrowers should take their time and get proper advice and information regarding which lenders have the most appropriate finance package to meet their particular requirements. A qualified mortgage broker generally has at least 25 to 30 lenders at their disposal to assist customers compare all the products from these lenders.

The official interest rate is now 3.5%, down from 4.25% in early May, and the majority of home loan customers in Australiaare sitting idle on their home loans with a standard variable rate (SVR) somewhere around 7.05% at present. This “average” SVR should reduce in the next few weeks as lenders take their time and pass on what they want to since the recent annoucement by the RBA. If your interest rate is above 6.20% pa variable after rate cuts are passed on, you’re simply paying too much! We have some lenders on our panel with variable interest rates under 6% pa. There are also some great fixed interest rates on offer for those borrowers looking for some stability with their repayments. These fixed rates, from several lenders, are also under 6% pa for terms from 1 to 3 years.

Remember, there are large cost variations between the banks and other lenders in areas such as:-

-          MORTGAGE INSURANCE PREMIUMS

-          MAXIMUM AMOUNT ALLOWED ON LUMP SUM REDUCTIONS AND VARYING TERMS
           BETWEEN LENDERS ON FIXED RATE LOANS PLUS DIFFERENCES IN RATE LOCK FEES

-          COST TO VARY/SWITCH LOANS BETWEEN DIFFERENT PRODUCTS

-          VARIANCES IN ANNUAL PACKAGE FEES

-          VARIANCES IN PROFESSIONAL PACKAGE INTEREST RATE DISCOUNTS RIGHT NOW
           DUE TO DIFFERENCES IN COST OF FUNDS

IF YOU ARE SELF-EMPLOYEDAND HAVE A GOOD CASH FLOW BUSINESS, EVERY BANK WILL BE AGGRESSIVE TO OBTAIN THOSE FUNDS AS THEY ARE ALL CHASING DEPOSITS!!

Click here to contact Cooper Financial Connections today! We can help find you the loan you deserve.

It is becoming more and more obvious to Cooper Financial Connections that the banks are only interested in seeking new customers and not looking after their already exisitng client base.

Peter Cooper, director of Cooper Financial Connections says “There are many factors to take into consideration when shopping for a home loan or refinancing but these factors are being overshadowed by the perceived importance of interest rates in Australian media.”

Peter Cooper was recently interviewed by the Courier Mail for his take on the current mortgage market and how the public can become mortgage savvy and be aware of all the factors when considering your financial options.

To read the article – click here.