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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 […]

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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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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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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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Could avocado prices really be keeping millennials out of the Perth property market?

October 10, 2017

Smashed Avocado keeping you out of the property market? What if you bought an avocado farm instead? Recent comments from an Australian property millionaire claiming that smashed avocado was the reason many millennials had failed to enter the property market. Lazy millennials who want everything for nothing, afraid of hard work and changing priorities, death […]

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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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The hottest spots for under 30s across Australia

September 13, 2017

A new study shows where Australians under 30 want to live, as well as the country’s most popular state or territory, by analyzing mortgage applications. According to research by credit scoring and information service Credit Simple, Queensland is the most popular state for mortgage applications by people under 30. Breaking down each state and territory […]

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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 […]

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Perth ripe with future property buying opportunities

July 10, 2017

A recent article by LMW Advisory WA, ‘West VS East’, explains that there are many opportunities presenting to buyers in the Perth property market. We believe that in support of this claim it is worth further discussion to highlight potential areas of future growth and elaborate on why we see now as the ideal time to […]

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