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Experts That we are experts, specialist and have 150 years combined experience, that we partner with our clients, continually exceed expectations, we are customer focused, or our lender panel has over 35 lenders that offer more than 2,500 products. ... Read more
The Federal Court of Australia, New South Wales | NSD293/2017 | Australian Securities & Investment Commission v Westpac Banking Corporation ACN 007 457 141. In an opening submission on Monday, 6 May 2019 barrister for ASIC, Jeremy Clarke, SC,... Read more
On Thursday, 20 June 2019 Westpac made a bold move to reduce their serviceability assessment rate from 7.25% to 6.50% for first home buyers. APRA set a floor of 7.00% in December 2004. Late Thursday night, Westpac made an abrupt... Read more
Recently, there has been a lot of extra whinging from numerous mortgage brokers that the time and effort required to prepare a loan application has increased, and wait for it, wait … it is eating into their profitability. They... Read more
‘Need some assistance? Speak to a Mortgage Broker’ the ad boasted. But the best part of the ad was 'Access 3,000+ loans from over 20 lenders.' A simple arithmetic calculation equates to an average of 150 loans... Read more
The Morrison Liberal government’s proposed Consumer Credit Protection Amendment (Mortgage Brokers) Bill 2019 contains a new best interests duty obligation on mortgage brokers but not on lenders. The application of this test would require mortgage brokers to ensure their... Read more
Refinance. Only if it was as simple as anyone that wants to grep a media headline tells us to – yes you guest it – refinance. The biggest hurdle is … wait for it … affordability, i.e. are... Read more
Now that we had three Reserve Bank interest rates cuts in June, July and October 2019 and banks have not passed in full the Reserve Bank cuts, the topic of the "Loyalty Tax" has surfaced. Withhold some of... Read more
The Australian Securities and Investment Commission released their updated RG209 guidelines for all credit licensees (banks, mortgage brokers, finance companies, etc). This is the most astonishing example ASIC gave on how a lender can meet their Responsible Lending Obligations of... Read more
We believe that our mortgage brokering clients deserve support and professional advice when purchasing property. Buyers’ Agents usually charge as much as real estate agents do, and most people cannot afford their services. Negotiating with real estate agents and... Read more