Concerns over financial risks to the economy correlated to surging property prices and record-low interest rates eventually led the Treasurer to meet with financial regulators to discuss the matter. The result: Josh Frydenberg has given regulators the green light to consider clamping down on over-leveraged home loans. “With Australia’s economy well positioned to strongly recover …
There’s a next wave of regulatory changes commencing early October that brokers will need to understand and take necessary actions to remain compliant. We’d like to outline six new laws that will come into effect to expand obligations for brokers and the financial services industry. These include: Reference checking and information-sharing requirements – starting 1 …
Upcoming mortgage broking changes for October 2021 Read More »
What’s happening in the loan space? ANZ has declared that they will prioritise lending standards over turnaround times, reflected on the state of the current housing and lending market at an EFG briefing on Thursday. They share their vision that banks should be conducting heavier checks on loan applications even if it means it stretches …
It is “important that lending standards are maintained” Read More »
Did you feel the quake? At press time, a 6.0 magnitude earthquake has struck Melbourne and regional Victoria. Many Victorians would have felt the ground shaking this morning. Take a look at this tweet from the Breakfast News. Speaking of sudden natural events, they can be short-lived such as earthquakes and they can also be …
Australian house prices are rising at the fastest yearly pace since 1989, says a recent report from The Guardian. So, if you are looking for a property, time is of essence. However, unless it happens to be your hobby, getting a mortgage is no one’s idea of fun. Why? Because it can be tedious, time …
Applying with a broker makes sense in Australia’s property market Read More »
After all their working years, you would think most Australians would own their home outright once they have retired. The sad reality is that more Australians are retiring with a big mortgage. The statistics are baffling to us. Between 1990 and 2015, the percentage of 55-64 year olds who owned their home outright fell from …
More people are entering retirement with a mortgage Read More »
There are many great perks of running your own business. It allows you to be more free and satisfy no one’s vision but your own. Work, in this way, can be a path both to self discovery and a way of making sense of things that are bigger than ourselves. But this path isn’t for …
Mortgage Broker Marketing: How to Get More Leads and Clients Read More »
Underneath the glossy casing of the digital world is a world of forgetting passwords and cybercrime. Cybercrime really goes back to the birth of computers. As soon as computers were created, people were tinkering with them. But the boom in cybercrime dated back to the mid-90s when credit cards came on the internet, e-commerce started …
Cast your minds back to last year when the ASIC issued guidelines to shorten the time financial institutions have to resolve most internal complaints from 45 to 30 calendar days. This change will come into effect as early as next month! How did they come to this decision? According to ASIC independent research into the …
Big banks remove the right to appeal for disgruntled borrowers Read More »
Continuing lockdowns bring a lot of uncertainties but you would be right for thinking the real estate markets are still in good shape. Over the month of August, property values increased in all our capital cities. Homeownership is still the DREAM Occasionally you’ll hear economists say that it’s actually better to rent over the long …
Buyers compete for available homes in locked down markets Read More »
