As read in Mortgage Business ASIC has found a Westpac-owned credit provider guilty of breaching important consumer protection provisions in the National Consumer Credit Protection Act (NCCP). Capital Finance Australia, a subsidiary ofWestpac, has paid penalties totalling $493,000 after ASIC found that between March and June 2015, the car finance provider failed on 55 occasions to provide customers with […]
As read in the Australian Broker Recently released figures from the Australian Bureau of Statistics (ABS) suggest that the sea or tree change phenomenon may be returning to popularity among Australians. The new migration data appears to show a resurgence in people relocating to coastal towns and lifestyle markets, where some of the biggest increases […]
As read in the Australian Broker Both the global banking regulator and Australia’s banking regulator have warned another financial crisis is imminent. Speaking at the Australian Financial Review (AFR) Banking and Wealth Summit in Sydney yesterday, Bill Coen, the secretary-general of the Basel Committee on Banking Supervision, the global banking regulator, said another global financial crisis is […]
As read in the Australian Broker Abolishing negative gearing tax concessions will result in a drop in house prices, economists have predicted. According to a recent survey by comparison site finder.com.au, almost two thirds (65%) of economists and analysts believe that eliminating negative gearing could result in a drop in property prices. Almost a quarter […]
As read in the Australian Broker Australian mortgage arrears have reached their lowest fourth quarter level in more than 10 years, according to the Dinkum Index from Fitch Ratings. The Dinkum Index tracks the performance of a large number of loans that have been bundled up and sold by lenders to other investors. The index […]
As read in The Adviser Individual home Loans is a member of PLAN Australia. PLAN Australia has revealed it will partner with Virgin Money to offer its members a new home loan product. PLAN Australia CEO Phil Quin-Conroy said the group is excited to be partnering with Virgin Money and to bring the opportunity of a new home […]
