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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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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 […]

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Gen Y hunting for that elusive digital mortgage. 

April 12, 2017

Digital? When it comes to applying for a mortgage, 76% of Gen Y professionals want to have a face-to-face conversation with a broker or lender. A new report by professional services firm KPMG, entitled Banking on the Future, surveyed over 1,400 professionals in Gen Y (defined as being between 18 and 30 years old). Despite […]

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Interest rate update!

April 4, 2017

The RBA has opted to leave the official cash rate on hold at 1.5%. At its board meeting today the Reserve Bank of Australia decided to leave the official cash rate unchanged. As widely predicted, the RBA has kept rates on hold as it continues to work in unison with the regulators to stem concerns around […]

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APRA on ‘high alert’ as investor lending soars

April 2, 2017

APRA on ‘high alert’ as investor lending soars Housing finance commitments posted further growth in January, driven by the investor segment. While the value of owner-occupied housing finance fell by 0.2 per cent over the month, investor lending was up 4.2 per cent to be 27.5 per cent higher over the year. ANZ Research noted […]

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