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Government to implement faster payment terms for SMEs

December 5, 2017

The federal government has announced that it will implement 15-business-day payment terms for small business providers in response to a Payment Times and Practices Inquiry. The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) released a report in April which noted that “late repayments have been a perennial problem in Australia”. The government’s decision to […]

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Interest-only mortgage borrowers in hot water as data shows less financial responsibility

December 5, 2017

Pressure is mounting on interest-only mortgage borrowers as new research shows they tend to be poorer money managers and present as “risk flags” to financial institutions. An apparent propensity to spend their way further into debt and forgo savings when faced with higher costs, and an increased tendency to sell their property if interest rates […]

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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 […]

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‘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 […]

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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 […]

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“If you can’t trust your broker, who can you trust?”

May 25, 2017

Industry Brokers – “If you can’t trust your broker, who can you trust?” I am in awe of what you do,” said Minister for Small Business Michael McCormack to a room full of brokers in Sydney. At a breakfast event held by the Mortgage & Finance Association of Australia (MFAA), the minister spoke of the […]

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HomeSectionsMarket talk Submit Lowest interest rate not biggest reason consumers use brokers

May 18, 2017

MPA Consumers on Brokers surveys suggest ASIC’s criticism that brokers don’t provide better interest rates may be misplaced ‘Help with the application’ is the biggest reason consumers use brokers, MPA’s 2017 Consumers on Brokers report has revealed.  The survey showed that lowest interest rates were only the third biggest reason for consumers to use a […]

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WA first home buyers grant cut back!

May 17, 2017

WA’s first home buyers grant will be cut back to $10,000 after the State Government announced it would end a $5000 boost at the end of next month. Treasurer Ben Wyatt said the $15,000 grant, announced by the former government late last year and intended to be in place for all of 2017, had not […]

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Survey finds Australian borrowers could not make home loan repayments if they fell seriously ill

April 29, 2017

Survey finds Australian borrowers could not make home loan repayments if they fell seriously ill. NEARLY half of Australian mortgages are worried about what being diagnosed with a serious illness would mean for their repayments, with some claiming to be incapable of servicing their home loans for even one month if they became seriously ill, […]

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Brokers Most Influential!

April 20, 2017

The heads of several leading banks, aggregates and industry consultants have said that mortgage brokers, rather than banks, “are the most influential information source for consumers on mortgage products”. The Deloitte Australian Mortgage Report 2017, asked several industry leaders — including representatives from AFG, Bank of Queensland, Commonwealth Bank, eChoice, Homeloans, NAB, Pepper Money, and […]

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