MEDIA RELEASE                                     Wednesday 29 APRIL 2009

RECORD MONTH FOR HORIZON DEFIES DOOM & GLOOM

Horizon Financial has defied ‘doom and gloom’ in the business community writing a new record in residential finance for the month of March.

Last month Horizon Financial wrote a total of $ 15 million in residential finance which is the largest ever month end total in the company’s nine year history.

“While commercial loans are definitely down, residential business is showing unprecedented buoyancy – a national trend attributed to a combination of factors, not the least of which is the federal Government’s first home buyer’s grant.

“To give you some idea of this increase, last month’s figure of $15 million is a 200 per cent increase on results for March 2008.

According to Mr Turnbull, it is not just the first home buyer’s market having an affect, but also lower interest rates.  

“With interest rates at an all time low, people are not surprisingly, keen to take advantage.  In effect, using this opportunity to refinance and consolidate debt. And with the big banks getting increasingly stringent in their willingness to loan, a broker has the flexibility to pair an individual’s financial situation with a financial institution that best meets their needs,” he said.

Horizon Financial was founded in Cairns almost nine years ago by Donna and Mark Turnbull. Since then it has developed in to a competitive commercial and residential finance broking and travel business employing 12 staff and in 2008 wrote a combined total of $170 million in finance. 

Ends

For further information: Mark Turnbull, Managing Director, Horizon Financial

Tel: 07 4041 7566  Mob: 0412 573 051 Email:  mark@horizonfinancial.com.au

Issued by: Pip Miller PR  Tel: 07 4032 4400  Mob: 0419 681543