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Discussion in 'Introductions' started by StevenLam, 28th Jan, 2009.

  1. StevenLam

    StevenLam New Member

    Joined:
    28th Jan, 2009
    Posts:
    4
    Location:
    Perth, WA
    Hi everyone, wish you all had a great start into 2009, and hopefully we can ride through this financial crisis together. I was browsing around and came across this website, I think its an excellent website especially to share knowledge and experience.

    My name is Steve, and I'm working as a Home Finance Manager with Westpac (Perth Metro, WA) specialising in housing loans / investment loans. Just a little background about my career and education

    Career
    5 years with BankWest started off as a teller and worked my way to Senior Lender.
    Joined Westpac almost a year ago as a Home Finance Manager and loving it every second of it

    Education
    Bach of business majoring in Finance and E.Commerce
    Cert IV Mortgage Broking
    Dip of Financial planning mod 1&2

    Hopefully with 6 years of Banking experience and education, I can be part of the useful resource and for me to gain knowledge from other members too.

    Regards,

    Steve
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Hi Steve

    Welcome to the forum.

    The financial crisis hasn't affected me much.
    I have to admit, 9.5% interest did hurt but luckily the RBA came to my rescue :)

    How's homeloan lending in Perth these days?

    cheers
     
  3. StevenLam

    StevenLam New Member

    Joined:
    28th Jan, 2009
    Posts:
    4
    Location:
    Perth, WA
    Hi Bill,

    same here... financial crisis hasn't hit me directly as I dont have any investments other than my super and I still have my job. Im just glad interest rate came down so the difference in interest savings can go back paying the principal bit of the loan.


    Average properties values in Perth are going downhill at the moment, just like what was happening over in the eastern states 1-2 yr ago. A few properties investors that I know are on the sideline waiting for more properties to pop up or waiting for prices to drop a little further. Besides that, Lending is getting more competitive at the moment, especially with Keystart variable loan sitting at 6.24% while normal banks are sitting around the same. The only place that doesnt hit you with the huge Lender's Mortgage Insurance is Keystart and a lot of First home buyers are steering towards them. Keystart offers a good deal for people who are building as they only have to pay $50/wk during construction until completion which means they dont have to pay interest on any loan drawndown except the loan on their land.... good bargain aye... ANZ is not a strong competitor anymore as their maximum lend is only 90%.. I guess that cut out alot of first home buyers.

    Business has slowed but not as bad as what I thought. Just got to give the clients the right mindset. Not doing much first home buyers at the moment even the staff in my branch is going through keystart for their home loan. Majority of my deals are mainly refinance from other banks, purchasing investment properties or marriage splits <----- time of the year.
     
    Last edited by a moderator: 29th Jan, 2009