The Bond Man - Property Finance Consultants


Issue 8 / May 2007

THE NATIONAL CREDIT ACT: Don't say I didn't warn you!

The final phasing in of the new National Credit Act will be completed by 1st June. The objective of this Act, in a nutshell, is to abolish reckless lending and protect consumers. One of the ways the banks intend to do this is by sharing information with each other about your indebtedness to them in respect of all forms of credit, including home loans.

This means that, as a property investor, your ability to raise bond finance will be severely curtailed, as banks will take your total exposure to all financial institutions into account when assessing future bond applications.

You may have noticed that, in the past few months, the big commercial banks have been spending vast resources on ad campaigns to literally throw money at the public before the 1st June deadline, after which it will no longer be legal to encourage indebtedness in an irresponsible way.

The purpose of this newsletter is to remind those of my clients who intend to continue to invest responsibly in property to take this opportunity to secure the maximum access bond facilities that you can, based on income, while it is still relatively easy to do so. This will ensure that you have instant access to funds should an investment opportunity crop up.

The lending landscape is about to undergo the most radical changes we've seen for decades and it makes sense to have your lines of credit in place. Contact The Bond Man urgently to review your home loan/access bond requirements.

SPECIAL OFFER!Renaissance Body Science Institute
All clients who apply for a new bond, or increase their existing bonds between now and
30th June 2007 will qualify for one month's free membership of Renaissance Body Science Institute.


Gary Peterson
The Bond Man


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