Australian Mortgage Manager has reviewed the Victorian mortgage statistics and below gives you a clearer picture on how the 2013 property market is developing.

Mortgages Lodged

Looking at September 2012 and statistics for the month of September 2013, the number of Victorian mortgages lodged between this time, increased by 4,617 mortgages. Whereas reviewing September 2011 and the month in September 2012, the mortgages lodged decreased by 3,173. Overall between September 2012 to September 2013, over 205,448 mortgages were lodged. That is an increase of nearly 700 more lodgements from the previously year, which was 204,757.

Mortgages Transferred

Based on the 2013 findings compared to the 2012 mortgages transferred, in 2013 there has been an increase of more than 2,600 mortgage transfers in Victoria alone. A mortgage transfer is a change of ownership, mainly due to the rest of the private sale.

Mortgages Discharged (Fully Paid Out)

Again the 2013 annual review is more promising than the 2012 comparison. 208,830 mortgages were discharged from September 2012 to September 2013. Whereas only 207,005 were paid out in full, in September 2011 to September 2012. Showing that 2013 has seen a rise in 1,825 mortgages discharged.

As you can see from the statistics provided above, the mortgages in Victoria are still increasing in numbers and mortgage holders are reviewing their mortgages frequently to ensure they are with the best mortgage provider. Remember it is always important to review your biggest and most emotional investment. If you want to know how much you can borrow for your next purchase or seeking a mortgage transfer speak with our expert Mortgage Managers on 1300 799 266 or email: This email address is being protected from spambots. You need JavaScript enabled to view it. . 

^Statistics have been sourced from the Department of Sustainability and Environment. 


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Mortgage interest rates stabilise

Written by Melanie Toye, September 6, 2014

Another great decision by the Reserve Bank of Australia Board that all Australian home owners will be cheering about. On 2 September, the Board decided to leave the cash rate unchanged at 2.5 per cent. 

This gives mortgage owners a chance to continue to add additional money into their mortgage without the funds being chewed up by high interest charges. 

And because of this, mortgages will be paid out much quicker. In some cases, if a mortgage owner adds an additional $200 a week into their mortgage. They might be able to chop five years, off their total loan amount. Can you imagine not paying a mortgage repayment anymore? Well, if you pay extra in your mortgage while taking advantage of the low interest rates, you could be living without a mortgage much sooner than you except.

The things you could do with that extra money. Maybe even put it towards a holiday home, or investment property, or building your super, or just taking a wonderful holiday somewhere.

Sooner or later, interest rates will climb again. There is no doubt about that. So taking full advantage of the low interest rates now, is in your favour.

Pending on who your mortgage is with, you might be able to put the additional payments into a redraw facility, in case down the track you need to use it for an emergency.

Some mortgage owners put their additional funds into a savings account to earn interest. But say $5,000 in savings a year, you earn $100 in interest and then taxed from the interest you earned. Would it be more for your end pocket if your savings were put against your mortgage?

Predictions are suggested that till the end of the year, one can feel safe for steady interest rates. If you want to consider changing mortgage lenders or are looking into refinancing, or planning to buy your first mortgage, then contact Australian Mortgage Managers today on 1300 799 266 or email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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