As read in MortgaeBusiness online -Treasurer Scott Morrison has revealed how the ACCC will prevent the majors from passing on the bank levy to borrowers and explained how the government body will show Australians “how to get a better deal elsewhere”. The federal Treasurer delivered a speech at Parliament House in Canberra yesterday where he […]
As read in MortgageBusiness online – The prudential regulator is seeking feedback from the banks on its plans to begin requesting additional data on borrower debt-to-income ratios. APRA this week responded to six submissions relating to its proposal to revise the current residential mortgage lending reporting requirements for banks, released in October last year. Now […]
As read in the Aust Broker Online – Two of the big four banks have announced that they are making a raft of adjustments to their interest-only lending. In an update to its brokers this week, ANZ announced that from Monday, 29 May, interest-only availability for both owner-occupier and investment lending will be restricted […]
As read in the Aust Broker Online – The long awaited Federal Budget has finally been released with a variety of measures aimed at cooling down the heated housing market and helping consumers get a fairer deal from the banks. In parliament yesterday (9 May), Scott Morrison touted the budget as credible, affordable and honest – […]
As read in The Adviser online – Finsure boss John Kolenda has urged mortgage holders to negotiate a better deal with their bank as out-of-cycle rate rises continue to plague the market. Mr Kolenda said that mortgage holders should maintain pressure on their lender to offer the most competitive interest rate available despite the Reserve […]
As read in MortgageBusiness online – Banks’ ratcheting up of interest rates is not due to funding costs as they claim, the RBA has underscored at its latest monetary policy meeting. Over the past few months, several banks have upped their interest rates, with increases from major and non-major lenders ranging from seven to 117 basis points. […]
As read in MortgageBusiness Online -The Treasurer has stressed that a housing affordability fix “must involve a scalpel, not a chainsaw” and has looked to the UK housing sector experience as “valuable” for Australia. Addressing the Australian Housing and Urban Research Institute in Melbourne yesterday, Treasurer Scott Morrison stressed that “dealing with housing affordability must […]
As read in The Adviser – Allowing first home buyers to access their superannuation to fund property purchases would be “frowned upon” by Australian finance specialists and economists, new research has shown. Research from comparison website finder.com.au revealed that 80 per cent of experts who surveyed for the recent RBA cash rate survey said they believed […]
As read in Mortgage Business Online – Entrepreneur and Count Financial founder Barry Lambert has warned that there could be “hard times ahead” for mortgagors as banks begin increasing interest rates. The philanthropist said that record house prices, pending oversupply of apartments in some cities, investor lending curbs, and elevated household debt levels, coupled with rising interest rates on mortgages, means […]
As read in Aust Broker Online -Proposed changes for banks and lenders to include positive credit reporting data will make life easier for anyone looking to take out a mortgage. Suzanne Steele, managing director of credit bureau Experian, told Australian Broker that Australia was at odds with the world in how consumer data is reported. Out of […]
