> Month: October 2017 | Better Choice

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Inappropriate finance most common broker complaint

October 24, 2017

The most common consumer complaint against mortgage brokers relates to inappropriate finance and responsible lending, a new industry report has found. In the latest Credit Industry Ombudsman (CIO) Annual Report on Operations, around 360 complaints were received about brokers and aggregators in the 2016/17 financial year. This accounted for 6.1% of the almost 5,900 complaints brought […]

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Refinancers caught in the crossfire of APRA’s tightening plan

October 24, 2017

Some Australian home owners looking to refinance their mortgage to reduce debt have discovered they are “stuck” with their current loan due to stricter rules enforced by the banking regulator. One lender says tighter controls are penalising people with a good credit history on loans granted before the Australian Prudential Regulation Authority (APRA) tightened rules […]

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How to paint like a pro: Experts share their top tips for getting it right

October 18, 2017

Painting a wall might sound easy, but if you want a beautiful and professional finish then roll up your sleeves and prepare for some hard work. Follow these seven essential steps to get you painting like an expert in no time. Choose your paint type There are many choices when it comes to picking a […]

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FOS reports seven broker disputes in 2016/17

October 18, 2017

The Financial Ombudsman Service (FOS) has released new figures revealing the low number of broker disputes compared to the banks. The FOS Annual Review 2016-17reported 25,300 accepted disputes overall during the year. Of these, 10,400 involved the banks while only seven involved mortgage brokers.  These seven disputes included two around advice, two around charges, one around […]

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Spending plunge may dent economic growth

October 11, 2017

The sharpest fall in retail spending in more than four years has cast doubt on the Reserve Bank’s economic growth forecasts and adds weight to expectations for a long run of unchanged interest rates. Retail turnover plunged 0.6 per cent to $25.9 billion in August, missing market expectations of a rise from July of 0.3 per […]

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