We
specialise in delivering services to the expatriate community.
You
can find our advertising, articles or contact details
by visiting or
contacting the following expat organisations:
Proper
Finance Solutions
Level
1,
530 Little Collins Street Melbourne VIC
Australia
telephone: +613 9909 7494 facsimile:
+613 9909 7496
Welcome to the latest edition of our newsletter.
In this issue:
- We moved the office to Melbourne CBD
- Recent testimonials
- Benefits that currency brokers can provide to overseas property investors in Australia
-
Our
selection of articles by The Age
Our recent move and new contact details
In early September we moved our office to new green premises in Melbourne CBD. At the new place we help to save our environment by adopting paperless processing. Now all documents, faxes and files are received, handled and kept electronically. Please take a note of our new contact details:
PROPER
FINANCE SOLUTIONS
Level 1, 530 Little Collins Street
MELBOURNE VIC 3000, Australia
PH: +61 3 9909 7494
FAX: +61 3 9909 7496
EMAIL: enquiries@properfinance.com.au
WEB: www.properfinance.com.au
Recent Testimonials
Dear Chantal,
Thanks so much for your very welcome email Chantal - and thank you to
both you and Anton for looking after us so well in the purchase of our
new home!
... and further to the attached letter, please include our thanks for
any 'testimonial'. I must say that it's been fabulous knowing that we
were being so well looked after. We starting looking at buying a house
in Australia having no knowledge whatsoever but with your invaluable help
and advice we were able to avoid any pitfalls and now actually have our
own beautiful house sooner than we ever thought possible. Now we can just
sit back and enjoy the champagne as we contemplate our future life living
in our lovely home next to the beach!
All the best to you both!
Kev & Sue Taylor
London, UK
September 2006
Benefits that currency brokers can provide to overseas property investors in Australia
Did
you know that you can achieve a better exchange rate and no overseas transfer
fees by using a currency dealer instead of a bank? We asked Hamish Thomson
from HIFX (www.hifx.com.au) to write an article for Australian expats
and overseas property investors:
What is Currency Risk?
Why should you take currency risk seriously when exchanging one currency
for another?
Currency rates of exchange fluctuate on a minute-by-minute basis which
means that if you choose the wrong time of day, week, month or year to
trade you could risk losing significant sums of money. The best way to
reduce your risk is to be educated on the reasons for these market movements,
as timing is essential.
If you are transferring funds to pay for a property deposit or to pay
off a mortgage on a monthly basis then it is worthwhile considering the
options available to you. Choosing a brokerage as opposed to a bank to
move your funds can save you money in two ways:
1) The exchange rate – You will tend to find that a brokerage will offer
you a more favourable rate of exchange because they have fewer overheads
than a bank and focus solely on foreign exchange. You will also find that
a brokerage will not charge a fee or commission.
2) The information – Whilst some brokerages will only look to sharpen
your rate of exchange you will find that others will also provide you
with information in order to make an educated decision as to the timing
of your trade.
Let's
take the example of someone who was looking to transfer 100,000 GBP (Great
British Pounds) into AUD (Australian Dollars) between April and May '06.
If the transaction was done towards the end of April (a rate of 2.3663)
this would have bought 236,630 AUD, however, towards the end of May (at
a rate of 2.5147) the same transaction would have netted 251,470 AUD.
That is a difference of 6% or $14,840 AUD!*
* Prices shown are interbank or wholesale rates that will not be offered
to you by HIFX. For a live quotation please speak to an HIFX Dealer or
Consultant on (02) 9251 2626. If you are buying property or moving money
overseas and would like to know how you can protect yourself from the
fluctuations of the foreign exchange market call Hamish Thomson at HiFX
on +61 2 9251 2626 or email him at hamish.thomson@hifx.com.au
Up-market developers rise above the downturn
The residential property market is either going to hell or is travelling along just nicely. It depends who you ask and to some extent how much their customers are affected by rising fuel prices and interest rates...more
House prices take off
Suburbs set to shine
It seems that with every real estate cycle,
a new north-eastern suburb gets pushed out of reach for the working class
who call it home... more
Housing finance falls in August
The outlook for Australian interest rates
is unlikely to be significantly affected by a fall in housing loans in
August, economists said today... more
Rates likely to stay steady
Business confidence has continued to fall
after the recent rate rises, adding to expectations that rates will be
left on hold when the Reserve Bank meets next month... more
RBA chief hints at another rise in interest rates this year
Reserve Bank governor Glenn Stevens has given
the strongest indication yet that another rate rise this year may be needed
to reduce underlying inflation ... more
How to escape from junk mail hell
Spam is the scourge of the 21st century, but
there are steps you can take to reduce the junk you receive... more
In our next newsletter - January 2007
-
How to keep your mortgage competitive
We
will be happy to discuss and research various options for your new or existing
mortgage in Australia. There are plenty of deals in store for you,
simply contact us
by sending an enquiry.
If you would like to send us feedback, please do so on
Australian Business Number (ABN) 94 707 637 728, For more information feel free to Contact Us