Global data analytics and technology company Equifax has released its Quarterly Business Credit Demand index for September 2021, showing a jump in demand across all categories of credit. In the first 4 days out of lockdown, asset finance enquiries rose 25.1%, trade credit by 15.5% and business loans by 2.5% compared to the previous week …
Business credit demand recovers as lockdown ends Read More »
The latest regulatory attempt to tighten lending standards is unlikely to stop the climb of house prices. It is hardly scratching the surface of the housing affordability problem. The Australian Prudential Regulation Authority increased the interest rate buffer by 0.5 percentage point to 3%. Which means, by the end of this month, lenders will start …
APRA’s new lending rules fail to calm house prices Read More »
The value of new loan commitments for housing fell 4.3% in August 2021 across most states, driven by a 6.6% fall in new owner-occupier loan commitments, according to latest statistics released by the Australian Bureau of Statistics (ABS). “The value of new loan commitments for owner-occupier housing saw the largest fall since May 2020. Despite …
The housing market in regional areas is really on its way up. More and more young and location-independent people are spreading out into smaller towns and regional areas. Such as in Orange in central-western New South Wales, they do great coffee there and there are certainly good restaurants, spectacular views and lots of orchards. Here’s …
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 …
It may go without saying, but it’s worth noting: consistency and time are the backbones of mortgage lead follow-up best practices. Understandably, when and how it’s ideal to contact clients can be questionable every so often. Mortgage professionals that are flourishing put lead follow-up first. It means reaching out to fresh leads at the soonest …
3 Lead Follow-up Best Practices for Higher Conversion 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 »
