Liquid paper and broken dreams: Homeowners brought to their knees over lending practices

Jason Hannagan had to sell his home and an investment property after a financial lender gave his family a loan they could not afford to repay. Mr Hannagan’s family took out a $590,750 loan from a lender called Pepper Money in 2012. He estimated the family’s monthly income was about … Read More

APRA relaxes investor property loan ‘speed limit’ as boards made more accountable

Despite conceding that risks in the property market remain “heightened”, the key bank regulator will remove the speed limit on investor lending. Key points: APRA is targeting the quality of home loan serviceability, ditching previous investor speed limits Bank boards will be made more accountable for the quality and operation … Read More

Jonathan Munz sells Portsea pile to Russell Knowles for $2.5m profit

Rich Lister Jonathan Munz has made a $2.5 million profit from selling the Portsea house he purchased just two years ago to former rich lister Russell Knowles. Mr Munz, whose estimated $1.1 billion fortune put him 50th on last year’s Rich 200, sold his mansion at 3808 Point Nepean Road for $13.5 million last Monday in … Read More

APRA just relaxed lending quotas for Australian housing investors

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APRA has announced it will remove the 10% annual cap on investor housing credit growth for some lenders. It expects ADIs to develop internal limits on lending at very high debt-to-income levels, and policy limits on maximum debt-to-income levels for individual borrowers. Restrictions on interest-only mortgage lending introduced in March … Read More

Westpac shares slide after UBS flags lending risk concerns

Westpac shares have slumped in midday trade after UBS downgraded the stock this morning. Analysts Jonathon Mott and Rachel Bentvelzen ascribed a target valuation of $26.05 on Westpac (WBC) shares — down from this morning’s opening price of $29.18. Westpac shares fell by more than 4% in afternoon trade before … Read More

How to quickly know how much house you can afford

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Rules of thumb for home affordability There are several easy rough estimates for how much you can spend on a home. Choose a total payment that is close to what you spend now for rent Select your maximum home price at three times your annual income Choose a total housing … Read More

What You Need to Know about Mortgages and Equity

Ah, springtime: when “for sale” signs start popping up with the daffodils and crocuses! Before you call your real estate agent, you might want to read up on some of the more technical aspects of homebuying—like exactly what homeownership can mean for your bottom line. Mortgage basics The majority of families … Read More

Low Rise Medium Density Design Guide

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These are Tools for improving the design of low rise medium density residential development as complying development. A key component to addressing housing affordability and supply is delivering more housing diversity. The low rise Medium Density Housing Code and the Low Rise Medium Density Design Guide address a lack of … Read More

13 WAYS TO START POWERFULLY AS A PROPERTY INVESTOR

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1. Know why you’re investing in property Get clear about your reasons for choosing to invest in property instead of other asset classes such as shares. Most investors know why they want to invest in property but some do it for the wrong reasons, such as trying to keep up … Read More

Key changes to pricing and offers in the last month in Australian consumer banking

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Click here to see a summary of the key changes to pricing and offers in the last month in Australian consumer banking: http://pclmoney.com.au/bnk/bnk_feb.pdf Note that the deposit rates on offer continuing their downward trend Key changes: ANZ’s​ Progress Saver has had its ongoing bonus rate reduced by 10bp to 1.71%. Bankwest​ … Read More

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