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Tic:Toc to undercut broker distribution in white label play

December 16, 2017

Mortgage brokers are facing a double threat from online lender Tic:Toc, which is seeing a surge in demand from consumers and interest from banks and non-bank lenders looking for cheaper distribution. Tic:Toc promotes its quick turnaround times and convenience. The group only offers its own branded mortgages, which it says can be approved within 22 […]

online-lender

APRA eager to wind back lending curbs

November 28, 2017

Speed limits on investor lending and other macro-prudential measures were always intended as a “temporary” solution, according to APRA chairman Wayne Byres.   Macro-prudential measures were introduced in 2015 as a response to growing fears that the Australian mortgage market was becoming imbalanced. Little indication has been given since then about how long these constraints […]

desk-of-finance-brokers-perth

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 […]

inappropriate finance

Depreciation: Overrated or misunderstood?

September 19, 2017

The important role of depreciation benefits in a successful portfolio-building strategy is widely misunderstood. In fact, some investors miss out on valuable financial benefits and this reduces the profitability of their investments I am often asked questions about the ‘right’ way to invest in property. In fact, one of the most common queries I field […]

Depreciation benefits

More Australian investors sacrificing lifestyle to buy property

September 16, 2017

New research shows that more Australian investors are choosing to sacrifice their lifestyle in order to buy properties. According to Mortgage Choice’s Investor Survey, 71 per cent of property investors had to make lifestyle sacrifices so they could buy residential properties, up from 69.4 per cent last year and 68.1 per cent in 2015. “Our research […]

low income

‘We’re many years away from robo-advice’, says brokerage head

September 13, 2017

The managing director of a national brokerage has reassured brokers that the industry is “many years away” from robo-advice mortgages, adding that anyone who thinks otherwise “doesn’t have the full facts”. Following on from widely lambasted claims by UBS analysts that a mortgage is a “simple, commoditised product” and could therefore “be easily provided by robo-advice”, MoneyQuest […]

brokerage

Broker loans almost reach $50bn mark

September 8, 2017

Australian mortgage brokers have broken new records, bringing in $49.46bn worth of residential home loans through the June 2017 quarter. This figure, which comes from the Mortgage & Finance Association of Australia’s (MFAA’s) latest quarterly industry survey, shows a growth in loan settlements of $3.4bn between the March and June quarters this year. The research […]

australian mortgage brokers

Angry bankers set for showdown .

May 31, 2017

Angry bankers set for showdown with Treasury officials over $6.2 billion levy MALCOLM Turnbull and Scott Morrison are standing by a plan to cut Australia’s corporate tax rate despite today revealing it will cost the government $65 billion over 10 years. Labor has seized on the figure which was previously slated to be $50 billion […]

Angry bankers

Rate rises real risk for mortgage holders

April 14, 2017

It is the prospect of interest rate rises that pose the greatest danger to first home buyers, according to one finance expert who believes that current levels of housing affordability are actually not that severe. House prices today are relatively affordable compared to the 1990s, Jamie Alcock, associate professor in the University of Sydney Business […]

rises

Major bank follows suit and hikes rates

April 12, 2017

Westpac has followed National Australia Bank’s lead and hiked home loan interest rates for both owner occupiers and property investors, Fairfax Media has reported. The major bank announced it would increase rates for owner occupiers by 0.03 percentage points to 5.32% for customers making principal and interest repayments. For owner occupiers making just interest payments, their […]

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