Mortgage Brokers increase competition and choice, driving lower interest rates

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A Deloitte Access Economics report released 24 July, 2018 has found that mortgage brokers drive more competitive mortgage pricing, provide valuable services and greater choice for consumers. The average mortgage broker has access to 34 different home loan lenders, and of these they use an average of 10 lenders to … Read More

Research reveals high satisfaction with mortgage brokers

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New independent research has revealed most people who have sourced mortgages through brokers are satisfied with almost every aspect of the transaction. The Finance Brokers Association of Australia (FBAA) commissioned the research project through finance industry researchers MyNextAdvice to gauge the level of satisfaction with clients who had settled on … Read More

Should you use a bank or a finance broker?

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The banking royal commission has drawn attention to some serious problems between the banks and their customers. Evidence to the Royal Commission has shown patterns of illegal behaviour by financial institutions. Last month the corporate regulator ASIC revealed banks and others in the financial services sector would have to refund … Read More

Should you get a variable or fixed rate home loan?

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When you take out a home loan, you normally choose between a fixed interest rate or variable interest rate. With a fixed interest rate home loan your interest rate is locked in for a certain period. For example it could be over 5 years. This means that your loan repayments will remain the same over the 5 year term. … Read More

Westpac has just announced that it will increase its variable mortgage rates.

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It is the first of the big four banks to raise interest rates for all its variable home loans this year, although many smaller banks had already moved to higher rates to ‘offset higher costs’. Scott Morrison the new prime minister says  people who are unhappy with their bank’s decision … Read More

16 tips for property success

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 Ask successful people what they’d wished they’d been told when they were younger. That’s exactly what I did with these successful property professionals and here’s what they said. Kate Forbes – National Director Metropole Property Strategists Invest in yourself first Your best investment by far will always be in yourself … Read More

SOUTH COAST HOUSING PRICES ON THE RISE

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The Illawarra Mercury , 8/3/2018, reports that the South Coast housing market has defied Sydney’s falling trend in housing values. It quotes new data from Domain’s June Quarter 2018 House Price Report which indicates that house and unit prices on the South Coast are continuing to rise, despite predictions the … Read More

The Value of Mortgage Broking

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  The Value of Mortgage Broking, a report by Deloitte Access Economics has just been released. This report demonstrates the value that our industry brings to consumers, lenders and the Australian economy, by driving competition and delivering greater choice and valuable services to the Australians who need them most. The … Read More

Can I make up for bad credit with a high income and down payment?

What’s more important for a mortgage? Income or credit score? It’s not uncommon to find a mortgage applicant with great income, but not a high credit score. Do applicants with high income and large down payments still need bad credit home loans? Mortgage underwriting is completed mainly by software The software evaluates … Read More

Many people are considering their options in view of the Banking Royal Commission

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There have been some alarming revelations about the behaviour of Australia’s Banks coming out of the Banking Royal Commission. It has shattered the myth that the big banks always put their customers first. Time and again evidence has been put forward that shows that the lending practices of some of … Read More

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