Blog

Tune in here for the latest information about credit, interest rates, and the property market. We do our own research to give you the most current and accurate news.

Openn negotiations

I have been contacted by a prospective purchaser seeking assistance with bidding on a property she was interested in and advertised on openn.com.au; and credit advice and brokering on her loan. The short answer was "Welcome to online auction bidding".... Read more

Sydney property hits 47.8 times earnings

An Oatley apartment was sold at auction on Saturday 30 November 2019. I was not surprised that there was a dozen or so hopeful bidders, with several bidding relentlessly. The successful bidder paid 47.8 times earnings ( (rent less outgoings)... Read more

Loyalty Tax

  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

Best Interest Duty

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

Need Some Assistance?

  ‘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

Whinging Mortgage Brokers

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