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Tuesday, 8 November 2011 12:46 PM
Beware of scam gift voucher & product offers on social networking sites
SCAMwatch is warning social networking users to beware of scam posts which offer fake gift vouchers or products for free. The vouchers are offered in exchange for personal details and passing on a scam link to friends.
How the scam works
- You see a post on a social networking site such as Facebook or Twitter offering free gift vouchers or products. Recent scams have offered fake vouchers for supermarkets and coffee shops. Other have offered free products such as smartphones, tablet devices and laptops.
- This scam abuses brand names and logos of well-known companies and products in order to make the offers look legitimate.
- To claim the voucher or product you may be asked to first "Like" a Facebook page, share the scam post with friends and follow a link to complete a scam survey. The survey will ask for personal details which scammers can then use to commit identity theft.
- If you fall victim to the scam you will never receive the product or voucher. If you print an online voucher it will be a fake which is not honoured or of any value.
- In more sophisticated versions of this scam, clicking on links may cause your social media account to become hijacked or compromised. A hijacked account will spam your friends with more scam post. If your Facebook page has been compromised use this Facebook page to re-secure your account. If your Twitter account has been hijacked see this Twitter information on how to re-secure your page.
- Similar scams also are perpetrated via email with links to online scam surveys.
Protect yourself
- Never click on suspicious links on social networking sites - even if they are from your friends. Remember if an offer seems too good to be true it probably is!
- Be very wary when filling in surveys linked to via social networking posts and pages. Scammers commonly use these surveys to steal your valuable personal information.
- If in doubt about the authenticity of a free offer always contact the company on their official customer service number to verify that it is genuine. You can also search the internet using the exact wording of the offer as many social media scams can be identified this way.
- Keep your personal details personal - be careful what information you share and post on social networking sites and with whom you share it- expect that people other than your friends can see it.
- Set your online social networking profiles to private, never give out your account details and regularly update your computer's security software.
- Protect your accounts with strong passwords and change them regularly - have a different password for each social networking site so that if one is compromised, not all of your accounts will be at risk.
- Don't accept a friend request or a follow request from a stranger - people are not always who they say they are and the best way to keep scammers out of your life is to never let them in.
- If you think you have provided your banking or credit card details to a scammer contact your bank or financial institution immediately.
Filed Under: Latest News | 0 Comments
Thursday, 2 June 2011 11:21 AM
This Report is supplied by
Matusik Missive
An Independant opinon on most things Residential
Queensland site valuations
In Queensland Market on June 1, 2011 at
6:45 am
This year the QSVS re-valued all 58 rateable local governments in Queensland
(as at 1st October 2010), with over 1.6 million valuations
undertaken, scheduled to take effect from 30th June 2011 for local
government rating, state land tax and state land rental purposes.
The floods and extraordinary weather in December and January delayed the
valuation results until late month, giving time for the weather impact to be
taken into account in each of the state's 41 disaster areas. Some 23,000
flood-affected properties were re-valued.
The valuation process also changed aligning us with the rest of Australia.
Site value is now used rather than unimproved value assessment for all non-rural
land. Site value is the amount which land could be expected to sell for,
without any structural improvements, such as houses, buildings or fences. A
site valuation includes site improvements to the land, such as clearing,
filling, revetments, levelling, drainage works and remediation - whereas
unimproved value assessments do not. Excavations associated with a building,
however, are not included; nor are intangible elements such as infrastructure
credits.
But since their release, complaints began to surface - mostly about the
degree to which values have risen and especially in those areas rated only a
year or so ago. The protests have been so widespread that we decided to take a
closer look.
Site value changes, both up and down, can be attributed to a number of
factors including the introduction of the new methodology (as mentioned above);
market movements; the time between valuations and the effects of the recent
weather events.
Now to cut a long story short, the change in valuation methodology, at least
at helicopter level, appears to have gone smoothly and the government did step
up and re-value those properties affected by the January floods. But as is
often the case, the devil is in the detail. And when you start breaking down
the actual site valuation results, some serious cracks appear.
When looking at site values for whole council areas,
surprising results emerge. Last year, for example, residential site values rose
nearly 7% in Bundaberg but only 0.1% in Hervey Bay, yet they both share similar
average residential site values of $129,000 and $135,000 respectively.
Likewise, Logan City's residential values rose twice as fast as those in Ipswich
last year. Why?
And how come Gladstone's residential values grew 5% last year and Mackay's
just 0.3%, whilst they actually fell in Rockhampton by 0.2%? They rose 5.6% in
Gympie and 10.3% in Toowoomba over the same time frame. None of this makes
sense at all.
What does make sense is that average land values in flood-affected suburbs
dropped whilst values of those unaffected suburbs didn't, but some of the
results on a suburb by suburb basis are also somewhat
bewildering.
Why, pray tell, did site values, on average, rise by 13.2% across Brisbane's
northern suburbs, but by only 1.2% on average across the city's southern
suburbs? Site values rose 11.4% across Brisbane's west but only 4.3% across its
eastern flank. What, I wonder, has happened north of the River to deliver such
a lopsided result? What has stuffed up across the south?
But there's more. Why have site values risen 9% across the Sandgate
foreshore but shown no growth in Manly - the new Redcliffe Bridge perhaps? But
then if new infrastructure influences results, why have site values dropped on
average by 3.5% across those suburbs within close proximity to the new Richlands
railway station?
Why have Chermside's site values gone up by 19% but Carindale's by just 4%,
while Mount Gravatt's have shown no growth at all? Has the value of land in St.
Lucia really increased three times faster than the same dirt in neighbouring
Indooroopilly?
Things get even stranger when looking at individual
streets. I picked three in Kenmore as a case study. No property in
these three streets flooded; they all are within a short walk of each other
(within a 500 metre radius) and are all accessed off the same minor collector
road.
Site values in one street fell consistently for all 16 properties, by 20%.
The next, also 16 homes, saw an average fall of -11%, yet four properties saw
their site values rise. And the third street, with 35 homes, saw site values on
average rise 6%. In this longer street, some site values dropped 20%, whilst
others rose by 35%! Remember, not one of these houses was flooded, and in my
opinion, some that dropped in value are the best positioned in the street.
Also, why does someone with an 800 sq m allotment have a site valuation of
$320,000, whilst a 1,500 sq m allotment in the same street is valued at
$215,000? A similar thing can be found in townhouse developments. In the
projects we analysed across Brisbane's inner west, some townhouses have site
values 40% higher (on a per sq m basis) than other townhouses in the same
complex.
What is heck going on?
Look we applaud the change in methodology; the effort to re-value flooded
property and transparency (a rare thing in government these days) by allowing everyone
(free until 1st August 2011 at least) access to all site valuations
across the state. But we are scratching our heads as to the inconsistencies
uncovered and we are not alone. Along with many others, we feel that an
explanation is warranted.
Filed Under: Latest News | 0 Comments
Saturday, 14 May 2011 2:04 PM
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This report is supplied courtesy of
RP Data
Industry
Market Wrap
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The Federal Budget was supposed to be the
most important economic report released this week however, from a
property market perspective it delivered very little. The only points
of note affecting the housing market were: the skilled migration target
has been revised upwards to 185,000 (from 168,700 the year before) and
mostly focused on regional areas where workers are desperately
required, $6 billion allocated to a regional infrastructure fund - most
of this will be directed towards projects in Queensland and Western
Australia to support the resources sector, and the 'Housing and
Community Amenities' provision in the budget has been cut by $1.1b
reflecting the conclusion of the housing initiatives introduced as part
of the Government's response to the global financial crisis. Perhaps
most notable is that there was no mention of changes to tax
implications for property investors, specifically negative gearing and
there was no plan to address housing affordability.
Building approvals data for March 2011 was released by the ABS late
last week. Over the month there was a significant bounce in building
approvals, increasing by 9.1% which was a big reversal from the -10.1%
fall in January and a further -5.3% fall in February. On an annual
basis, total building approvals were -18.1% lower in March 2011 than
they were in March 2010. Focusing on private sector house and unit
approvals, house approvals were -0.8% lower over the month and -17.8%
lower over the year. Unit approvals recorded at 26.1% increase over the
month and are 11.9% higher over the year. Despite the positive result for
March, building approvals continue to trend in the wrong direction.
Advertised Stock on the Market
 The number of new
properties advertised for sale has recorded a large fall over the week,
down -9.6%. Despite the fall, new listings remain at above average
levels and are 13.4% higher than they were at the same time last year.
New listings have been trending lower across the combined capital
cities since mid March and fell by-3.7% last week to their lowest level
since early February of this year. The total number of properties
advertised for sale increased by 0.6% nationally last week and they are
29.3% higher than at the same time last year. Although total listings
increased nationally, in the capital cities listings fell by -0.7% and
are at their lowest level since mid May.
Latest National Auction Clearance Rates
 The weighted average
capital city auction clearance rate was recorded at 50.6% last week, up
from 45.1% the previous week. Despite the improvement, clearance rates
remain at low levels especially when you consider that during the same
week last year clearance rates were recorded at 63.5%. In Melbourne,
clearance rates improved to 57.1% from 49.3% the week previous. Sydney's auction
clearance rates improved from 48.4% the previous week to 52.8% last
week.
Number of Properties Advertised for Rent
 New rental
advertisements increased by 1.9% nationally last week and by 2.8%
across the capital cities. Nationally, rental listings are 2.8% higher
than at the same time last year and in the capitals, listings are -0.2%
lower than last year. Total rental listings increased both nationally
(0.7%) and within the capital cities (0.4%) last week. In comparison to
last year, total rental listings are 15.2% higher nationally and 11.9%
higher across the combined capitals.
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Filed Under: Latest News | 0 Comments
Monday, 24 November 2008 4:56 PM
Identity Theft
It is bad enough when you loose your keys or glasses. What about when you loose your identity.
Modern thieves are not happy with break and enter into just
our homes but now have the ability to break into our lives. With the help of modern technology our modern
day criminal can take on another person's identity, spend on their credit card,
withdraw funds from their bank, and even subject lonely people to think they
are a certain person when they are not that person at all.
Read more and discover how this new wave of crime is now possible
and How You Can Better Protect the identity of you and your family.
Sophisticated IT
The new age of sophicated IT technology has made snooping
easier. Small businesses and individual
people are at risk and should start to take a proactive approach to IT security
both in the office and in the home.
Faced with constant warnings about the security risks of
spam, viruses, spyware and worms, many people prefer to take the attitude the
"It will never happen to me". However,
the main problem with technology snooping is that it can happen anywhere and
anytime.
What is in your Wallet
Criminals are increasingly looking for specific personal
information like credit card number,
financial information and passwords, and they are often prepared to go
to any lengths to obtain them.
Snooping on keyboards is on the rise as a means to an end
for thieves trying to access sensitive data.
The problem with keyboard snooping it that there are a number of
snooping gadgets on the market these days that you may have thought only
existed in movies like "James Bond"
One example involves a small and innocuous device that plugs
in between a computer and a keyboard connector and acts as a storage unit that
can capture and save everything that is typed.
Once the device is retrieved, a copy of everything, even text that's
been deleted, can be accessed. The scary
thing is that there is currently no easy way to prevent key logging of this
kind.
Who is Watching You While You Work??
It's not just the hi-tech code-cracker working through the
night to crack the code and obtain confidential data. Non-technical approaches, such as laptop
'shoulder surfing' often reap better quality results for thieves.
The person doing the shoulder snooping is usually looking
over the shoulder of the person they are trying to obtain data from. Shoulder surfing and various other snooping
techniques have been known to occur in office environments, on public
transport, and there is now a belief that mobile workers are being specifically
targeted.
Many senior executive now rely heavily on laptop PCs to work
on business information while they are out on the job. But the laptop brings a number of risks that
are in danger of being overlooked.
The best way to handle a suspected case of shoulder snooping
is to move the screen away from view or even turn your laptop off.
Who is Watching You While You Are At Home??
How many of us freely provide our credit card details for
purchases either by phone or over the internet.
Most of us also use the internet to access their financial
details and pay accounts.
The criminals who search the internet waves for secure
personal information are the same criminals who are actively snooping or
seeking ways to invade business and professional data.
We are all at just as much risk, especially with many people
switching to wireless access for the computers and laptops.
In an attempt to prevent Identity Theft, some Banks will be
introducing more secure credit cards which contain a key pad. This will enable the user to change pin nos.
when required, or after each use.
Toowoomba Home Loans will be holding a special Information
Night in March or April 2009 (The date is yet to be finalised)
With Guest speakers talking on the subject of Identity Theft
and How Best Prevent this type of theft happening to you.
Watch our website or check your emails as invitations will
be sent both electronically or through Australia Post.
In the meantime be aware of how you use your sensitive
information and what sources you are exposing this information to.
Remember the old saying
"If In Doubt Don't" post a cheque instead.
Filed Under: Home Loans | 0 Comments
Thursday, 17 July 2008 12:12 PM
Buying an
investment property can sometimes prove exhausting and confusing,
making a step by - step guide to the purchasing process is a valuable
tool for any investor, weather your new or an old hand!
Here are 7 helpful guidelines to get you on the right track to investing:
1.Build a team of experts to support you
You
can't be an expert on everything and when it comes to property you
can't do it all yourself. Call the team at the Toowoomba Home Loans
Centre and get the right advice to get you started!
2.Establish the right entity to buy your property in
Decide
whether to buy the property in your own name, your spouse's, child's or
partner's name, or in some form of trust. Choosing the wrong entity
could see you paying more tax. We can help
3.Establish the right buying strategy
Decide
whether a negatively geared property, a cash fl ow neutral property, or
a positively geared or cash flow positive property would most benefit
your financial position. And which can your current finances support? Just ask
4.Establish your buying rules
Narrow
down the type of property you want to buy. Ask questions such as: Will
it be a house, townhouse or unit? How many bedrooms should it have? Is
a garage a must? How many bathrooms should it have? What yield should
it provide? Find out more here
5.Find the property
Use the internet and local agents to track down a property that matches up to your buying rules. We can help you work this out
6.Crunch the numbers
Factor
in the purchasing costs, property expenses and likely rental income to
come up with an estimated net weekly loss or income from the property.
See whether it fits with your buying rules. If not, see if you can make
it fit. We can help
7.Negotiate the price
Money you
save through negotiation is money in your pocket rather than the
vendor's. In a booming market, set to achieve a 5 to 10 per cent
discount; in a flat market, look for 10 to 15 per cent; and in a bust
market try to achieve 20 per cent plus off the asking price. The team at the Toowoomba Home Loans Centre can help you every step of the way
so call us today to help you unlock your dream!!
Filed Under: Investing | 0 Comments
Thursday, 17 July 2008 11:45 AM
Finally
our government has recognized to need to provide a way/path for our
first home buyers to take in order for them to enter into the property
purchase market.
When
the State Budget was handed down in early June, the Deputy Premier,
Treasurer and Minister for infrastructure, Hon Anna Bligh, promised to
unveil an Affordability Strategy within weeks; in late July, she
released the strategy to get positive support from industry.
The
Government intends to establish the Urban Land Development Authority in
late 2007 with the power to develop a range of housing products to meet
the needs of diverse communities. Initial sites to be
acquired, planned and sold to developers, subject to conditions to
achieve affordable and social housing policy outcomes, have been
identified. These include Bowen Hills, Fitzgibbon, Northshore Hamilton and Wolloongabba in Brisbane as well as the Mackay showgrounds. The
Government is also seeking to fast track other sites identified in its
South East Queensland Regional Plan such as Coomera and Ripley Valley.
Importantly, the government has recognised that the issue of land supply and its impact on affordability is a Statewide issue. The government's approach to these issues will include consideration of issues in high growth centres in regional Queensland. The
economy, society and our industry needs sustainable policy to develop
to ensure that how ownership remains within the reach of those who
aspire to it."
Recently reported by Dan Molloy MD REIQ.
This
together with most lending institutions now introducing special
products to cater for the First Home Buyer This is finally making it
easier for them to secure a loan, especially with the ability to
utilize the First Home Buyers Grant to assist with covering purchase
fees or to go towards purchase deposit.
To be sure you are heading in the right direction to make your first property purchase call now for a FREE consultation to assess your loan borrowing and property purchase capacity.
Call NOW at no cost to you. This FREE consultation is confidential.
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Thursday, 17 July 2008 11:44 AM
Don't compare against the so-called 'standard variable rate' InfoChoice Don't
allow any lender, bank or non-bank, to tell you you're getting a good
interest rate because it's lower than the banks' standard variable rate
(SVR). The SVR of the major banks has ceased to become a meaningful
yardstick. Its not the typical rate paid by Australian borrowers, far
from it. We estimate that at any one time less than 10 per cent of
borrowers are paying the prevailing bank standard variable rate.
Infochoice
analysis shows the true benchmark variable rate is 0.5 per cent lower
than the bank SVR. It's not just that the plethora of non-bank lenders
undercut the banks. Even the banks themselves hardly ever lend at that
rate. Anyone borrowing more than $250,000 will be offered a
professional package of discounts which cuts the SVR by 0.5 to 0.7 per
cent for the life of the loan. The SVR minus 0.5 per cent, that's your
market average for comparing loans when shopping around.This is where
the expertise of the consultants at Toowoomba Home Loans can help their
clients achieve the results they want. They understand the differences
between variable rates and lenders and can pass this assistance on to
you.
Filed Under: Home Loans | 0 Comments
Thursday, 17 July 2008 11:43 AM
Can't get a standard loan? There are alternatives InfoChoice If
the banks, building societies and credit unions won't lend to you
because you're self employed, newly arrived in the country or have a
poor credit history, consider the booming non-conforming and "low doc"
loan market. A number of non-bank lenders offer loans which especially
cater for this type of borrower. The interest rates on non-conforming
loans are generally higher but come down after a few years of on-time
repaymentsWe have access to several lenders who specialise in these
type of loans. Now because of competition between these lenders
interest rates, in most cases, are very competitive when compared to
your standard type loan.Call us now 1300 308 105 we would be happy help
you achieve your goals.
Filed Under: Home Loans | 0 Comments
Thursday, 17 July 2008 11:42 AM
Lenders Mortgage Insurance (LMI) enables lenders to offer higher loans
on a property's value, helping first home buyers into the property
market. According to recent statistics the residential mortgage backed
securities (RMBS) market in Australia, on which sales of LMI depend,
rose 20% in 2006 to A$63 billion (
Axiss Australia's newsletter February 2007)
This makes Australia the fourth biggest market in the world, after the
US, UK and Spain. Peter Morgan, head of St.George Insurance Australia
Pty Ltd (SGIA) explains, "Without mortgage insurance interest rates on
loans would be higher. With the availability of LMI, lenders can
provide higher loan-to-value loans. This means they will lend an amount
closer to the sale price of a property. This has allowed first home
buyers to purchase homes earlier because they will need a smaller
deposit. This is excellent news for anyone saving their deposit to
purchase their first home. The First Home Owners Grant will help to
cover purchase costs and now borrowers only requiring to save a small
deposit, can enter into the property market earlier. Call us now for
your
FREE consultation to see if we are able to help
you with the purchase of your first home.
Filed Under: Home Loans | 0 Comments
Thursday, 17 July 2008 11:41 AM
This question is frequently asked by our clients. To help explain what Lenders Mortgage Insurance is and how it works we have set out below, answers to some of our most frequently asked questions.
Lenders Mortgage Insurance (LMI) protects your lender in the event of you defaulting on your home loan. In the event of a loan foreclosure, if the property is subsequently sold and the amount from the sale is not enough to repay the loan in full, this insurance will meet the shortfall for the lender.
LMI should not be confused with Mortgage Protection Insurance, which covers you for the payment of your mortgage instalments in the event of unforeseen circumstances, including unemployment, illness or death. This insurance is paid annually and can vary depending on the outstanding balance of the loan.
Who uses LMI??
Lenders Mortgage Insurance is taken out by Banks, Building Societies, Credit Unions and non-bank lenders.These institutions use the money from deposits held in savings accounts and term deposits, or borrow, to provide mortgages to customers. In agreeing to lend a customer money, banks take a risk that they won't get the money back. Although they have the house as security, if property values decline and security may not be enough to cover the outstanding loan. Because they operate in a very competitive environment, these lenders opt to take out LMI on these loans, rather than increasing interest rates, and let the LMI provider wear the risk.
LMI providers are heavily regulated by the government authorities to ensure they hold enough money in reserve in the event that a large number of customers default on their loans and claims increase substantially or unexpectedly.
How does LMI Benefit me??
Before LMI was available, lenders required a deposit of at least 20% to protect them in the event of foreclosure, where the property has to be sold at a price less than the outstanding amount of the loan. Now with the ability to pass on the risk of default to an insurance company through LMI, lenders have been prepared to accept a lower, or even no, deposit and also to offer lower rates for mortgage lending than they would otherwise be able to offer borrowers.
By reducing the deposit required and helping to minimize lending interest rates, many borrowers are able to purchase a home much earlier, or buy a better property, than they would otherwise have been able to afford before LMI.
Who pays the LMI Premium ??
The LMI provider's contract of insurance is with the lending institution and the premium is usually passed on to the borrower as a cost of providing the loan.
The loan were a deposit of less than 20%, or even no deposit, is required represents a higher risk to the lender than one where a traditional 20% deposit is paid. Lenders pass the cost of this premium on to the borrower as a sort of compensation for them now being able to obtain a loan, whereas previously would have had to have saved a much higher deposit.
How is the fee for Lenders Mortgage Insurance paid??
The fee, in most cases, is charged as a one-off premium. The amount will vary depending on how much money is being borrowed and the size of the deposit, if any.
How do I apply for LMI??
Your lender will prepare and provide all necessary documentation and information should your mortgage require insurance.
In order to qualify for LMI, your finance consultant, in conjunction with the lender, will check to ensure that you are able to make the repayments on your loan, and that your desired property meets the appropriate LMI underwriting guidelines.
We hope the above information has been helpful to better explain Lenders Mortgage Insurance, if you require additional information you can contact one of our experienced finance consultants at Toowoomba Home Loans who will be able to help you.
In fact, if you have any questions about mortgages, or are unsure about your own mortgage, whether you have the best loan for YOU just call us to arrange a time for a FREE no obligation consultation.
Contact Us
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