OTHER SERVICES
Deposit Bonds
Deposit Bonds are a guarantee or bond that substitute for
a cash deposit between signing contracts and settlement
on property. SMP will organize deposit bonds when requested
and can be issued for all or part of the deposit amount
required, which is up to 10% of the purchase price. The
Deposit Bond products available include Standard Guarantee
for settlement terms up to 6 months or Long Term for settlement
terms between 6 and 36 months. Deposit Bonds are a particularly
useful product for ‘off the plan’ purchases
or if you don’t have the cash to pay the deposit
on purchasing a property.
Residex Comparitive Market Analysis (CMA) Reports
The CMA reports are particularly useful for those wanting
to buy property but are also of great use to existing property
owners. Using both statistical projections and actual
past sales data, the CMA reports aim to provide you with
an accurate indication of the current market value of a particular
property. The CMA reports also provide a prediction on the
possible capital growth one can expect on a property in a
particular suburb. Whilst no one can predict this with 100%
accuracy, Residex has a very good track record. It also provides
growth rates and rental yields for a particular local government
area, compared with other local government areas, over a
period of ten years.
This is a service that SMP is pleased to offer its existing
and new clients free of charge. A report of this nature for
an individual to request from Residex would cost $65.00.
The CMA reports reveal what you need to know in order to
assist you to make the most informed financial decisions.
Australian Life Insurance
Australian
Life Insurance -
For most people, taking on a home loan will be their single
largest financial commitment. For this reason it is worthwhile
considering the cold hard facts - between the ages of 25
and 65, one in three people will suffer from serious illness
and one in six males and one in ten females will die. It
may be that unless you have sufficient life insurance protection
or you are independently wealthy, your ongoing good health
will therefore be necessary for you to continue to meet
your mortgage repayments.
Mortgage Life Plus is a product that has been specifically
designed to provide convenient access to valuable life insurance
protection at the time you apply for a loan or a loan increase
through your mortgage consultant.
In the event of death, terminal illness or being diagnosed
with any one of seven serious medical conditions, Mortgage
Life Plus pays a lump sum of money that can be used to clear
or reduce your mortgage or for any other purpose. Mortgage
Life Plus is issued by PrefSure Life who is a specialist
risk-only life insurer that has won a range of industry awards
including the “Risk Company of the Year” at the
Adviser Choice Risk Awards in 2003 and 2004.
One of the special features of the product is that the first
3 months cover are provided free of charge to borrowers and
this means that if you decide that you do not want the insurance
you may cancel it at anytime during the first 3 months and
you will not have to pay any premiums. One of the added advantages
of this 3 month free period is that it gives you time to
consider both the insurance and your needs before having
to pay any premium.
SMP can provide you with information about the product together
with a Product Disclosure Statement at the time you apply
for your loan. The Product Disclosure Statement contains
the detailed information on Mortgage Life Plus and this should
always be considered in deciding whether you wish to apply
for the product. |
