Resimac’s new solicitor partnerships support brokers with digital solutions

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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

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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

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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

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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

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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

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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?

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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

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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

Resimac supports ‘Don’t Kill Competition’ campaign

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Leading non-bank mortgage provider Resimac has confirmed its support of the nationwide ‘Don’t Kill Competition’ campaign launched by the Mortgage & Finance Association of Australia (MFAA) to oppose a proposed ban on all mortgage broker commissions paid by lenders to brokers.  The final report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry,... Read more continue reading

First-home buyer numbers surge

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Housing finance Number of home loans: The number of loans (commitments) by home owners (owner-occupiers) fell by 0.9 per cent in November after rising by 2.1 per cent in October (the largest gain in 12 months). First home buyers active: The proportion of first-time buyers in the home loan market rose from 18.1 per cent in October... Read more continue reading