Independent research reveal that about 50% of people are ready to ditch and switch lenders should red tape be eliminated and the implementation of the tick and flick approach by the Federal Government on July 1 makes it that much easier for borrowers to switch accounts. The government’s announcement of the reforms to be done [...]
The following article extract is a very good example of where clients should consider using customer ordered valuations, these are valuations ordered upfront by your mortgage broker prior to submitting a loan application. This avoids unnecessary credit inquiries and the disappointment of a failed loan application. Not all lenders offer this and some charge a proportion of [...]
A report in news.com.au – during the past six months, developers noticed that the inclination toward the trend “buddy up and buy” has been growing as a way people get their first home. Tony McEntee, residential sales manager of LWP Property Group, noticed the trend happening a lot in the past six months as first-home [...]
A lot of mortgage brokers have reservations about the cash rate’s validity as banks have announced their independence from the Reserve Bank’s imposed rate. One of the big four, ANZ, has announced on conducting a review on their mortgage rate every second Friday of the month. According to a recent poll, as much as 40% [...]
The Housing Industry Association has declared a gloomy residential building activity which is set to continue over time. The residential building activity has been going down for 12 that the HIA is calling on the government to help kick-start the sector and is urging the RBA for another rate cut in February. New data from [...]
The present conditions of the property market are making Australia a buyer’s market. According to Real Estate Investar, great conditions for property investment are present along with the imposed rate cuts, not to mention the presence of motivated sellers who are eager to make a sale. The present conditions however are not enough to guarantee [...]
Australia’s 2012 home finance market will have first time home buyers as its most active players, this according to a national survey. A group of mortgage brokers answered a poll and results showed that 36% believed that first home buyers are the one who will dominate this year’s housing finance market. Of the 252 surveyed [...]
After last year’s deadline on the exit fee ban effective July 1, mortgages sold were said to be above a quarter of a million but still the abolishing of exit fees effects on competition continues to be uncertain. Wayne Swan believes that recent bank reforms have effectively encouraged competition as statistics showed a number of [...]
Once again the Federal Government have pandered to their constituents with yet more regulation in what is already an arguably over-regulated market segment. The loan fact sheet ‘initiative’, which started on January 1, will have lenders give a standard one-page facts sheet containing mortgage information showing the total cost of mortgage, fees and interest. The [...]
The business opportunities most abundant to mortgage brokers were in the areas of refinancing. New data revealed that of all the lending commitments for owner-occupied housing, more than 30% of it is on refinancing. The Australian Bureau of Statistics revealed that in October 2011, refinancing is 30.8% of all lending commitments for owner-occupied housing. Some [...]