What is pre-approval and what is subject to finance? Many first home buyers believe you don’t need pre-approval if you intend to use a subject to finance clause in the sales contract when you find a property to buy .But that’s not the case! In this article I explain why it’s a wise move to […]
As read in Australian Broker ANZ has cracked down on lending policies governing loan guarantors, limiting the leverage that family members can take on to assist first home buyers, despite new data showing housing is more unaffordable than ever. In a note sent to mortgage brokers, the major bank said it would be limiting who can […]
As read in Australian Broker an independent review of commissions and payments made to bank staff has been announced as an ASIC-led review of mortgage broker remuneration is currently underway. Former Australian Public Service Commissioner, Stephen Sedgwick AO, has been appointed to conduct the review, commissioned by the Australian Bankers’ Association (ABA), to determine if […]
As read in Mortgage Business A crackdown on lending to foreign buyers has seen a number of banks pull out of the space in recent months. However, the majors have been tight-lipped since reports of mortgage fraud hit the headlines. Speaking at an FBAA event in Sydney last month, industry veteran Steve Weston said that […]
As read in Australian Broker Pressure on bank staff to push “unsuitable” financial products on customers is hurting the integrity of the industry, the Finance Brokers Association of Australia (FBAA) has warned. The FBAA is responding to a Fairfax Media report, which claimed Commonwealth Bank staff felt pressured to meet performance targets to sell products which are […]
