Own a business?

Need working capital? Looking for advice on Cash Flow financing. Been in business less than 2 years? Don’t have your financials available! What are Lo Doc and No Doc mortgages?

The Credit Crisis of 2008 has caused great difficulties with many borrowers who until recently were able to secure adequate mortgage finance without providing comprehensive financial information.

Accordingly and due to credit policies reflecting a lower appetite to take on 'riskier' business, obtaining low doc or no doc finance has become more difficult. Not impossible, but pricier (i.e. higher interest rates) and more difficult to get approved.

Also, as non bank lenders are becoming more scarce in the Australian lending scene, the banks have secured a 'short term' competitive advantage and competitive pressure from non banks on interest rates and credit policy is just not apparent at the moment.

In time, and if & when the credit markets return to some level of normality, we may again see the banks delivering more competitive products when the non bank lenders return to the mortgage market.

Cash flow and access to capital for business growth is an integral part of any successful business strategy.

AMF therefore has access to financing facilities (Factoring, Invoice Discounting & Inventory Finance) that enable businesses to drive their profits beyond what is able through conventional financing techniques.

Have bad credit?

Defaults, Summonses and Court Judgements are bad news! But it’s not a lost cause. Read about your ‘mortgage’ options in our e-book.

Non Conforming lending is a catch  phrase catering for borrowers who don't satisfy the banks usual credit criteria. During 2008 however, the global credit crisis has made this form of lending quite problematic for many borrowers who once required this type of finance, but not any more.

For many borrowers who currently have mortgage loans with non bank lenders such as Bluestone, Pepper Home Loans, Liberty Financial or GE Money, may now be more suited to refinance into more mainstream  mortgage products offered by deposit taking institutions e.g Banks at significantly lower rates of interest.

Clearly, this strategy must be taken on a case by case basis, however many borrowers who find themselves paying a high 'relative' interest rate, should have their situation reassessed soon. 

Many non conforming lenders who once were the financial saviours for some borrowers, have now become significant financial millstones particularly for those borrowers who have maintained a sound credit record since taking on their non conforming mortgage.

Due to the exceedingly high costs of credit on world capital markets, many Australian non conforming borrowers are now being financially punished through higher relative interest rates, when their recent credit record does not warrant such an impost.

Need to refinance?

Fixed or Variable interest rates, Consolidating debts, obtaining ‘Professional Pack’ interest rates lower than standard variable rates or just getting the best deal available.

No 'prime' or 'conforming' borrowers should be paying standard variable rates on their mortgage ever again. If they are, they should review their circumstances immediately.

Refinancing your mortgage should not happen on a regular basis due to the costs & fees that are often imposed by lenders, however you should at least review your circumstances annually, to ensure your mortgage remains the best suited for you.

Keep in mind that when refinancing, you should always have an economic benefit for doing so.

This benefit must be identified by any party who is in turn receiving a monetary benefit from the transaction in the form of a brokerage or a commission payment.

In other words, you must materially benefit from the transaction in some financial way, always.