Young Australians look to swap housemates for home ownership

From

New research from Westpac shows that COVID-19 is continuing to shape Australian home ownership goals, with the number of first home buyers looking to enter the property market in the next five years doubling from 7 per cent before the pandemic to 16 per cent[1]. No longer wanting to pay rent (54%) is the major... Read more continue reading

Household Capital passes on more than the RBA interest rate reduction to remain the lowest available home equity retirement funding provider in Australia

From

Australia’s leading home equity retirement funding provider, Household Capital, has announced a further cut to its interest rate. In response to this week’s RBA cut of 0.15 percent, Household Capital made a deeper cut, lowering its rate by 0.20 percent to a home equity access rate of just 4.95 percent. Dr Joshua Funder, Chief Executive... Read more continue reading

Resimac’s new solicitor partnerships support brokers with digital solutions

From

Leading non-bank mortgage provider Resimac has enhanced its lending processes by leveraging new partnerships and adapting the latest technology to ensure brokers can continue to originate home loans without the need to meet with borrowers face-to-face.  The enhancements are facilitated by its new panel solicitor partnerships, with MSA National and First Mortgage Services (FMS). In... Read more continue reading

5,000 reasons why you should trust your Mortgage Broker

From

Mortgage brokers must meet the best interests duty from 1 July 2020 or risk a fine of 5,000 penalty units or $1.05 million.This means you must show you have your client’s best interests at heart. Who is a mortgage broker? A mortgage broker: is either a licensee or credit representative; carries on a business of... Read more continue reading

Non-bank lenders to provide a greater share

From

One of the hallmarks of the Australian corporate lending market has been the bank dominance of the sector, with the domestic banks currently holding around 70% market share. Due to the large balance sheet capacity and accompanying capital required to operate in the market, barriers to entry are significant. However, Andrew Lockhart, Managing Partner at... Read more continue reading

One in four big bank customers have left or intend to leave after failure to pass on rate cuts

From

New research from comparison site Mozo has found that a whopping 70% of Australians do not trust the big banks, with half of that number losing confidence after their failure to pass on recent rate cuts. One in four big bank customers have left or intend to move to a non-four lender, equating to roughly... Read more continue reading

Household Capital offers lowest rate reverse mortgage in Australia

From

Household Capital, an independent, specialist retirement funding provider, yesterday announced it will further reduce its interest rate, passing on today’s RBA rate cut in full. Household Capital has reduced its interest rate in line with each of the three RBA rates cut this year. Lowest rate for home equity access Household Capital’s innovative approach to... Read more continue reading

SQM Research releases its 2019 Australian Mortgage Trusts Sector Review

From

As part of its annual domestic mortgage trust sector review, SQM Research has released a sector report covering 12 recognised Australian Mortgage Trusts. Managing Director of SQM Research, Louis Christopher said, “Australia’s mortgage trust sector has continued to record rapid growth over the past 12 months. We estimate the rise has been some 61% taking... Read more continue reading

Want to increase your borrowing power by $100K?

From

Many first-home buyers just can’t quite afford the property they want in Sydney and Melbourne. People seeking to buy in the inner-city suburbs that are well serviced by public transport should think about ditching the car. “Maybe your car commitments are stopping your home aspirations. A relatively small car debt limits the extra capital that... Read more continue reading

Labor’s negative gearing policy – A market update

From

SQM Research, Australia’s most recognised property investment research house, yesterday released a report into the likely housing market effects of The Labor Party’s proposal to change negative gearing, taking into account current housing market conditions. This research is an update on its initial paper released in June 2016 – a time when the housing market... Read more continue reading