Oak Laurel: Bad credit truck finance: truck loans for people w...

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Oak Laurel: Commercial property loans

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Agribusiness Finance Brokers Can Help Farmers

Agribusiness Finance Brokers Can Help Farmers as well as others inside the Sector to Run Their Businesses Profitably

Farming or any form of business that is associated to agriculture has some challenges that are unique to this particular niche of the economy. Farming and agriculture naturally are influenced by the weather and the environment and a lot of additional factors that cannot be easily controlled. This means that the requirements of capital and cash flows to keep the businesses running may vary.

Furthermore, an agribusiness loan is often required when buying new agricultural property or succession of the farm from parents to children. There is also a need to raise working capital to keep the business running. You may at times also require such finance for the expansion of your organization, to get agricultural machinery or restructure your business.

While searching for finance business owner must be sure of the amount that they need to borrow along with the term over which it can be repaid. The borrowed funds repayment frequency must match any income the business can generate. Lenders will insist on knowing the intention of the borrowed funds and pre-setting if the interest rate is fixed or variable. Loan amounts can be determined by the equity that is offered as security to secure the loan. Lenders will require you to qualify for the financing by examining your financial records and of your business. They can also base their decision on the kind of business which is being undertaken.

Loans may be taken for many different terms, though if cash flows are healthy, usually, it is restricted to fifteen years. Longer terms might be possible if there is the low ratio of loan to equity. Most lenders are comfortable with any ratio that is below seventy percent, but higher ratios might be allowed for well known and long running successful businesses.

Every type of agribusiness has its own needs for finance based on crop cycles, life cycles of livestock and other factors. This needs to be considered when the finance is being applied for to ensure that the finance that is provided will meet the business’ needs.

Agribusiness Finance Brokers

It is recommended to start the process of getting an agriculture business loan through a good agricultural finance broker. A good agribusiness finance broker can have an extensive network of lenders whom they can arrange loans through for the borrower.

The post Agribusiness Finance Brokers Can Help Farmers appeared first on Positive Connections.

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Mortgage Brokers on Frontline in War on Money Lending and Terrorism Funding

Australian mortgage brokers face new compliance requirements in the fight against money launders and terrorist funders after changes to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

According to AUSTRAC, Australia’s Anti-money laundering & Counter terrorist funding government regulator, every year, serious and organised crime costs Australia an estimated $10–$15 billion. To use the proceeds of their crimes, criminals need to ‘launder’ this money to make it appear to have come from legitimate sources.

Furthermore, terrorism financing poses a serious threat at home and abroad. At its most damaging, it can fund the activities of domestic extremists. More commonly, terrorism financing can help sustain terrorist groups overseas and support foreign attacks and insurgencies.

The new changes being implemented by Australian mortgage brokers relate to new customer due diligence obligations being implemented by banks and lenders by the start of 2016. Because Australian mortgage brokers now account for more than half of the mortgages introduced to lenders in Australia, mortgage brokers, on behalf of the lenders are required to comply with the new requirements designed to stop money laundering and terrorism funding.

Mortgage broker industry associations Finance Brokers Association of Australia (FBAA) and Mortgage and Finance Association of Australia (MFAA) require refresher training in compliance with the requirements for all of their members that did not have the new requirements contained in their training previously.

“These new measures are a small amount of extra work for mortgage brokers but are another weapon in the war against criminals and terrorists attempting to misuse our financial system for their own gain” said Dr Nigel Abery (Ph.D.) owner of mortgage brokers company Oak Laurel.

“We all need to do our part in stopping serious criminals and terrorists. We as mortgage brokers need to do our part. I support the new requirements” said Dr Abery.

“If you are aware of these types or other types of serious illegal activities I urge you to report them to the relevant authorities” said Dr Abery.

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Press release

Australia’s Big Four Lag Behind the Lenders Giving Rise to Mortgage Brokers

According to the latest research, the four major banks of Australia are lagging behind the lenders, in terms of providing satisfaction to the home loan customers. The survey conducted by Roy Morgan’s Single Source suggested that the satisfaction level provided by the leading banks of Australia that is NAB, Commonwealth Bank, ANZ and Westpac was 80% from March 2015 to September 2015.

The fact has also led many Australians turn to mortgage brokers to fulfill their lending needs. Often, the lack of knowledge causes the customers to make wrong property choices and that is when Mortgage brokers come into picture.

The survey also revealed that the next seven leading banks had a satisfaction level of 85% as well as ING Direct and ME Bank were leading in home loan customer satisfaction. Since Mortgage Brokers keep themselves updated with such information and tie up with the leading lenders, it helps the customers to choose the best mortgage property for them.

The bank with best level of customer satisfaction was reported to be ME Bank, with a percentage of 92.8%, ING Direct stood at 92.7% while SA held a satisfaction level of 88.7%.

CBA was leading the big four with 82.0% while Westpac received 80.8%. ANZ provided a satisfaction level of 77.5% and NAB stood at 78.9%. In spite of reducing the home loan rates, the banks saw a decreasing level of satisfaction in their home loan customers as compared to the non-home loan customers.

The above mentioned survey results and even the recent study done by Mortgage and Finance Association of Australia (MFAA) which stated that more number of Australians are turning to Mortgage brokers for their property lending needs.

However, it becomes highly important for the customers to choose the right mortgage broker considering all the parameters such as lending partners and previous records. Choosing a good mortgage broker allows the user to be in touch with the right lending partner that can offer them best cost and avoid any loss.

Norman Morris, the director of Roy Morgan Research industry communications mentioned in his statement that there might be a rise in home loan rates and it’ll become important to track the response of mortgage customers about the same. The fact may affect the satisfaction and reliability levels of the bank.

The customers are mainly drawn to the brokers who have access to a large panel of lenders so that the user can have a better choice.

Independent mortgage brokers such as Oak Laurel provides mortgage services in Australia’s major cities Canberra, Sydney, Brisbane, and Adelaide to guide borrowers from or outside Australia.

 

The post Australia’s Big Four Lag Behind the Lenders Giving Rise to Mortgage Brokers appeared first on Positive Connections.

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