Best home loan solutions for your lending needs anytime, anywhere it suits you!
Our experienced lending managers use their specially developed lending software to ensure borrowers receive an appropriate loan to suit their situation, needs, and objectives. MCM has access of funds from more than 10 different lenders, to ensure a good deal for the borrower.
We pride ourselves on supporting our valuable clients during application of the loan, during settlement and continuing to support the clients during and beyond the period of the loan.
What's new?
Three major commercial banks in Australia have lowered their home loan and small business loans interest rates following the RBA's decision to lower the cash rate - 4th May 2012
In reponse to RBA's decision to lower the cash rate, NAB has led two other major banks to reduce their standard variable rates by responding with a 0.32% decrease. Following this, CBA has reduced their standard variable rate by 0.40% whilst Westpac has lowered their standard variable rate by 0.37%. ANZ is pending on a decision, which will be announced in their monthly rate review next Friday, 11th May, 2012.
RBA May 2012: Interest Rates Cut by 0.50% to 3.75% - 1st May 2012
The Reserve Bank of Australia (RBA) has announced their decision to lower the cash rate to 3.75% at their board meeting today, which will take effect on 2nd May, 2012.
ANZ to Increase Interest Rates - 13th April 2012
ANZ has announced there will be an increase of 0.06% to their interest rates for home loans and small business loans after their interest rate review this month. The new ANZ standard variable rate will be 7.42%p.a, which will take effect on 20th April, 2012.
The current standard variable home loans rate are as follows:
ANZ 7.42%*
CBA 7.41%
NAB 7.31%
Westpac 7.46%
* Rates effective date as 20 April 2012.
RBA April 2012: Interest Rates Still On Hold at 4.25% - 3rd April 2012
The Reserve Bank of Australia (RBA) has left official interest rates unchanged at 4.25% at its board meeting this month.
RBA March 2012: Interest Rates On Hold at 4.25% - 6th March 2012
The Reserve Bank of Australia (RBA) has left official interest rates on hold at 4.25% at its board meeting on 6th March, 2012, as widely expected by many economists.
Great news! We can now offer medical professionals 90% borrowing without mortgage insurance. Conditions apply. Please contact our lending manager. - 20th February 2012
Four major commercial banks in Australia have increased home loan and small business loan rates on the back of RBA's decision to leave official rate on hold in February - 15th February 2012
ANZ bank has led the four major banks to increase the cash rate by 6 basic points, three days after the Reserve Bank of Australia announced to leave official cash rates on hold at 4.25%. Westpac and the Commonwealth Bank has followed, increasing their cash rates by 10 basic points. NAB has also increased their rate by 9 basic points.
As a result, the new standard variable home loans rate are as follows:
ANZ 7.36%*
CBA 7.41%*
NAB 7.31%*
Westpac 7.46%*
* Rates effective date as 20 February 2012.
RBA February 2012: Interest Rates On Hold at 4.25% - 7th February 2012
The Reserve Bank of Australia (RBA) has left official interest rates on hold at 4.25% at its board meeting on 7th February, 2012. Many economists had predicted a 0.25% cut.
RBA December 2011: Interest Rates Cut by 0.25% to 4.25%! - 6th December 2011
The Reserve Bank of Australia (RBA) has cut official interest rates by 25 basis points to 4.25 per cent at its board meeting on 6th December, 2011.
It was the second month in a row RBA has cut official interest rates.
Most economists predict couple more cuts early next year as inflation is lying at the bottom range of RBA 2-3% target and with uncertainty in the global markets - especially in Europe. All the 4 major bank has passed on the 25 basis points in full.
First Home Owner Grant Cap changes - 3rd December 2011
From 1st January 2012 First Home Plus exemptions and concessions will be replaced by the First Home - New Home Scheme.
The amendments provide that an agreement or transfer will only be eligible for the concession or exemption if it is for the acquisition of a new home or vacant land intended to be used as the site for a new home.
From 1st January 2011, the cap will be increased to $835,000. The $835,000 cap applies to all applications where the commencement date of the eligible transaction is on or after 1st January 2011. Applicants who purchase or build a home which has a total value of more than $835,000 will not be eligible for the grant.
The previous cap of $750,000 still applies where the eligible transaction commencement date falls between 1st January 2010 and 31st December 2010 (inclusive). Prior to 1st January 2010 there was no cap applicable.
Click here for details.
NSW Home Builders Bonus -14th May 2010
Effective for contracts entered on or after 1st July 2010, the New Housing Concession provides a full exemption on transactions relating to vacant land (<$400k) and off the plan purchases where building has not commenced (<$600k). A partial concession of 25% of duty payable applies to completed new homes (<$600k) or off the plan purchases where construction has commenced (<$600k). For details of eligibility, please phone our mortgage consultants now!
Click here for details.
Foreign Investment Policy changes - 24th April 2010
On 24th April 2010, Government announced that all temporary residents seeking to purchase an existing property in Australia will now be brought within the FIRB notification, screening and approval process. In addition, temporary residents who are approved will now have to:
-
Compulsorily sell the established property they have bought when they depart Australia; and
-
Be required, where undeveloped land has been purchased, to commence construction on that land within 24-months or have the land compulsorily sold.
Click here for details.
