1.93's A$ to the Pound!!!
Nov 16th 2009, 8:46 pm
#946
Guest
Posts: n/a
Re: 1.93's A$ to the Pound!!!
An example of the CBA mortgage lending policy:
Commonwealth Bank
Home Loan - Based on the information you have provided,
Annual Gross Income
Person 1: $80,000
Person 2: $40,000
Combined Net income $7,850 pm
we estimate that you can borrow up to $539,307. (4.4 times combined income)
Over a period of 25 years at 6.240% per annum, repayments of $3,563 per month would be required to fulfill your Home Loan.
These repayments are = 45% of net income.
Loan Summary
Loan Product Home Loan
Interest Rate 6.240% per annum
Loan Term 25 years
Loan Amount $539,307
Monthly Repayments $3,563
Home Loan - Based on the information you have provided,
Annual Gross Income
Person 1: $80,000
Person 2: $40,000
Combined Net income $7,850 pm
we estimate that you can borrow up to $539,307. (4.4 times combined income)
Over a period of 25 years at 6.240% per annum, repayments of $3,563 per month would be required to fulfill your Home Loan.
These repayments are = 45% of net income.
Loan Summary
Loan Product Home Loan
Interest Rate 6.240% per annum
Loan Term 25 years
Loan Amount $539,307
Monthly Repayments $3,563
Today's FX rate 1.79
Nov 16th 2009, 9:06 pm
#947
Banned
Joined: May 2007
Location: Sydney
Posts: 564
Re: 1.93's A$ to the Pound!!!
Nov 16th 2009, 9:23 pm
#948
Guest
Posts: n/a
Re: 1.93's A$ to the Pound!!!
Looking at the CBA policy, it is interesting how the different wages create a different %, and remaining disposable incomes per month.
and
Home Loan - Based on the information you have provided,
Annual Gross Income
Person 1: $200,000
Person 2: $100,000
Combined Net income $ 17,100 pm
we estimate that you can borrow up to $1,468,054.
Over a period of 25 years at 6.240% per annum, repayments of $9,684 per month would be required to fulfill your Home Loan.
These repayments are = 56% of net income.
leaving $7,416 disposable income per month
Loan Summary
Loan Product Home Loan
Interest Rate 6.240% per annum
Loan Term 25 years, with a 0 year interest only period
Loan Amount $1,468,054
Monthly Repayments $9,684
Annual Gross Income
Person 1: $200,000
Person 2: $100,000
Combined Net income $ 17,100 pm
we estimate that you can borrow up to $1,468,054.
Over a period of 25 years at 6.240% per annum, repayments of $9,684 per month would be required to fulfill your Home Loan.
These repayments are = 56% of net income.
leaving $7,416 disposable income per month
Loan Summary
Loan Product Home Loan
Interest Rate 6.240% per annum
Loan Term 25 years, with a 0 year interest only period
Loan Amount $1,468,054
Monthly Repayments $9,684
Home Loan - Based on the information you have provided,
Annual Gross Income
Person 1: $60,000
Person 2: $0
Combined Net income $ 3,940 pm
we estimate that you can borrow up to $115,679.
Over a period of 25 years at 6.240% per annum, repayments of $771 per month would be required to fulfill your Home Loan.
These repayments are = 20% of net income.
leaving $3,169 disposable income per month
Loan Summary
Loan Product Home Loan
Interest Rate 6.240% per annum
Loan Term 25 years
Loan Amount $115,679
Monthly Repayments $771
Annual Gross Income
Person 1: $60,000
Person 2: $0
Combined Net income $ 3,940 pm
we estimate that you can borrow up to $115,679.
Over a period of 25 years at 6.240% per annum, repayments of $771 per month would be required to fulfill your Home Loan.
These repayments are = 20% of net income.
leaving $3,169 disposable income per month
Loan Summary
Loan Product Home Loan
Interest Rate 6.240% per annum
Loan Term 25 years
Loan Amount $115,679
Monthly Repayments $771
Nov 17th 2009, 1:44 am
#949
Banned
Joined: May 2007
Location: Sydney
Posts: 564
Re: 1.93's A$ to the Pound!!!
Yes that is interesting and just by browsing through the various banks home loan pages and using their borrowing power calculators, you really do notice some difference. As I said Westpac on speaking to the staff, offered me considerably more than the website guide. I wonder whether the other big 3 would be the same?
Nov 17th 2009, 5:26 am
#950
Account Closed
Joined: Jul 2005
Posts: 1,693
Re: 1.93's A$ to the Pound!!!
?[/QUOTE]
looks like 1-80 is the new support/resistance level for upwards
looks like 1-80 is the new support/resistance level for upwards
Nov 17th 2009, 7:47 am
#951
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: 1.93's A$ to the Pound!!!
Should we throw a party if/when it gets up to 1.93? 
Last edited by MartinLuther; Nov 17th 2009 at 7:50 am.
Nov 17th 2009, 9:36 am
#952
Just Joined
Joined: Jun 2008
Location: Essex, UK
Posts: 15
Re: 1.93's A$ to the Pound!!!
I will be haha!
It was 2.10+ when I was there earlier this year and been gutting watching it drop down over the last few months when I've had a planned trip since May. I sent some money from Natwest to ANZ the other day at 1.78 I think, which wasn't too bad as a business rate as consumer foreign exchange was at 1.72.
I already thought Australia was too expensive for things like food and drink, when a bottle of coke is at $3.60 thats £2 for one bloody bottle at my exchange rate!! The supermarket discounts there really are rubbish compared to ours, guess its to do with our population and consumption being much larger though.
It was 2.10+ when I was there earlier this year and been gutting watching it drop down over the last few months when I've had a planned trip since May. I sent some money from Natwest to ANZ the other day at 1.78 I think, which wasn't too bad as a business rate as consumer foreign exchange was at 1.72.
I already thought Australia was too expensive for things like food and drink, when a bottle of coke is at $3.60 thats £2 for one bloody bottle at my exchange rate!! The supermarket discounts there really are rubbish compared to ours, guess its to do with our population and consumption being much larger though.
Nov 18th 2009, 2:02 am
#954
Banned
Joined: Apr 2009
Posts: 1,054
Re: 1.93's A$ to the Pound!!!
I will be haha!
It was 2.10+ when I was there earlier this year and been gutting watching it drop down over the last few months when I've had a planned trip since May. I sent some money from Natwest to ANZ the other day at 1.78 I think, which wasn't too bad as a business rate as consumer foreign exchange was at 1.72.
I already thought Australia was too expensive for things like food and drink, when a bottle of coke is at $3.60 thats £2 for one bloody bottle at my exchange rate!! The supermarket discounts there really are rubbish compared to ours, guess its to do with our population and consumption being much larger though.
It was 2.10+ when I was there earlier this year and been gutting watching it drop down over the last few months when I've had a planned trip since May. I sent some money from Natwest to ANZ the other day at 1.78 I think, which wasn't too bad as a business rate as consumer foreign exchange was at 1.72.
I already thought Australia was too expensive for things like food and drink, when a bottle of coke is at $3.60 thats £2 for one bloody bottle at my exchange rate!! The supermarket discounts there really are rubbish compared to ours, guess its to do with our population and consumption being much larger though.
Woolies: Coca Cola Bottle 2L $3.54
Currently it is 26% more expensive in Woolies than Tescos. Come the southern Winter it will cost ~$1.80 / 2L and be more than 26% cheaper than Tescos.
It is approaching Summer in Australia and Winter in the UK so due to changes in demand the price goes up in Australia and down in the UK. The £UK has lost about 20% of its value against the $AUS over the last year.
Tap water is better - no sugar and costs nothing.
Nov 18th 2009, 8:43 am
#955
BE Enthusiast
Thread Starter
Joined: Jun 2008
Posts: 730
Re: 1.93's A$ to the Pound!!!
Tesco: COCA COLA REGULAR 2 LTR BTL £1.56 ($AUS 2.81)
Woolies: Coca Cola Bottle 2L $3.54
Currently it is 26% more expensive in Woolies than Tescos. Come the southern Winter it will cost ~$1.80 / 2L and be more than 26% cheaper than Tescos.
It is approaching Summer in Australia and Winter in the UK so due to changes in demand the price goes up in Australia and down in the UK. The £UK has lost about 20% of its value against the $AUS over the last year.
Tap water is better - no sugar and costs nothing.
Woolies: Coca Cola Bottle 2L $3.54
Currently it is 26% more expensive in Woolies than Tescos. Come the southern Winter it will cost ~$1.80 / 2L and be more than 26% cheaper than Tescos.
It is approaching Summer in Australia and Winter in the UK so due to changes in demand the price goes up in Australia and down in the UK. The £UK has lost about 20% of its value against the $AUS over the last year.
Tap water is better - no sugar and costs nothing.
Morrisons have a buy one bottle get 2 free offer advertised on TV this week!
Nov 18th 2009, 11:16 am
#957
careful what you wish 4
Joined: Feb 2006
Posts: 140
Re: 1.93's A$ to the Pound!!!
bought some flowers (from the UK) in Perth WA last week...
rate on credit card bill received today - £1 - Aud$1.696833
rate on credit card bill received today - £1 - Aud$1.696833
Nov 18th 2009, 6:27 pm
#958
Just Joined
Joined: Jun 2008
Location: Essex, UK
Posts: 15
Re: 1.93's A$ to the Pound!!!
Tesco: COCA COLA REGULAR 2 LTR BTL £1.56 ($AUS 2.81)
Woolies: Coca Cola Bottle 2L $3.54
Currently it is 26% more expensive in Woolies than Tescos. Come the southern Winter it will cost ~$1.80 / 2L and be more than 26% cheaper than Tescos.
It is approaching Summer in Australia and Winter in the UK so due to changes in demand the price goes up in Australia and down in the UK. The £UK has lost about 20% of its value against the $AUS over the last year.
Tap water is better - no sugar and costs nothing.
Woolies: Coca Cola Bottle 2L $3.54
Currently it is 26% more expensive in Woolies than Tescos. Come the southern Winter it will cost ~$1.80 / 2L and be more than 26% cheaper than Tescos.
It is approaching Summer in Australia and Winter in the UK so due to changes in demand the price goes up in Australia and down in the UK. The £UK has lost about 20% of its value against the $AUS over the last year.
Tap water is better - no sugar and costs nothing.
I know oz small bottles are 600ml and UK 500ml so my comparison wasn't mathematically correct but it was just something I bought regularly (diet of course) that annoyed my with the price difference.
I drink a lot of tap water and that's one thing I find great in towns there, free water fountains!
Nov 19th 2009, 10:05 am
#959
Banned
Joined: Aug 2008
Posts: 22,348
Re: 1.93's A$ to the Pound!!!
It's sitting at a smidge over 1.81 right now
Nov 19th 2009, 12:55 pm
#960
Account Closed
Joined: Jul 2005
Posts: 1,693
Re: 1.93's A$ to the Pound!!!
[/QUOTE]
showing a bit of fight now the pound,even on continuing bad uk economics..hmm
showing a bit of fight now the pound,even on continuing bad uk economics..hmm