Low-income borrowers may still struggle to secure finance using affordability schemes

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Low-income borrowers may still struggle to qualify for finance if using a two per cent deposit housing affordability scheme, according to one of the nation’s most awarded mortgage brokers. 2021 Australian Mortgage Awards Independent Broker of the Year and Zippy Financial Director and Principal Broker Louisa Sanghera said the incoming Labor Government’s proposed Help To... Read more continue reading

AMP Bank accelerates launching a digital mortgage

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AMP Bank has announced the development of a digital mortgage for retail customers, leveraging FinTech Nano’s lending platform which will accelerate bringing a digital offer to market. AMP Bank’s solution will offer a fully digital mortgage experience capable of providing an unconditional approval for a residential home loan within minutes, subject to the customer’s circumstances.... Read more continue reading

Research reveals 57% of Australian first time home buyers think all banks are the same

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Leading research provider YouGov has released findings that confirm 57% of Australian first time home buyers think all banks are the same. The pulse check into Australian first time home buyers reveals over 1.8 million Australians will buy their first home in the next 12 months, yet 82% also find the idea of being in... Read more continue reading

Time for the average Aussie couple to save for first home reaches up to 8 years

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Domain, a leading property marketplace has released their annual First-Home Buyers Report, which reveals the time Australians need to save when planning for the purchase of their first home. Domain’s First-Home Buyers Report is focused on identifying the time it takes for a couple aged between 25-34 to save a 20 per cent deposit for... Read more continue reading

New fintech Boomer Home Loans to launch as Australia’s first over-55s specialist home loan provider

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A new Western Australian fintech focused on addressing residential lending challenges for older Australians is set to disrupt the traditional lending market by becoming Australia’s first specialist home loan lender for over-55s. Millions of Australians aged over 55 face home loan lending challenges, particularly around refinancing and obtaining home loans close to and post-retirement. Together,... Read more continue reading

Australians turn to mortgage brokers as the property market heats up

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As more Australians emerge from lockdowns, the property market continues to surge ahead.  The latest research[1] from MyState Bank indicates that Australians are viewing mortgage brokers as highly valued partners in securing a home loan during this time. The research also highlighted greater comfort in a ‘virtual loan’ process as well as seeking a loan outside... Read more continue reading

States bolstering coffers at expense of housing affordability

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Stamp duty has become the antiquated blight of the Australian housing sector as prices soar and governments continue to penalise home buyers with higher taxes which is leading to a reduced number of properties on the market. Real Estate Institute of Australia (REIA) and SQM Research have released a market analysis, Stamp duty: The relationship... Read more continue reading

Westpac sells Lenders Mortgage Insurance business to Arch Capital and enters 10 year supply agreement

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Westpac Group has announced it will sell Westpac Lenders Mortgage Insurance Limited (WLMI) to Arch Capital Group (Arch) and enter into a 10-year exclusive supply agreement for Arch to provide Lenders Mortgage Insurance (LMI) to the Group. The sale price will be at book value[1] which will be determined at completion. The transaction also includes... Read more continue reading

Seller confidence rebounds as buyer demand continues to surge

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Research released from Westpac shows more Australians are thinking about selling their home now than before the pandemic, with low interest rates, improved consumer sentiment and strong economic forecasts fuelling confidence in the housing market. More than a third (35%) of homeowners are planning to sell in the next five years, with over one in... Read more continue reading

Australia is a significant part of the global equity release trend

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The growing attraction of equity release for retirees in Australia is part of a global trend, according to the recent Global Equity Release Roundtable 2020 survey. The 2020 survey, published by the European Pensions and Property Asset Release Group, predicts that the global Equity Release market will treble in the next decade to more than $US50... Read more continue reading