As read in Australian Broker Online -Employment conditions may be improving across the country but it seems many Australian lenders are still on shaky ground after recent data reported a rise in home loan arrears rose in January. The Standard & Poor’s Performance Index (SPIN) for Australian prime mortgages increased to 1.30% from 1.07% […]
As read in The Adviser online -The financial services royal commission has placed ANZ’s remediation program under intense scrutiny, after the bank was found to have taken a decade to refund customers that were overcharged interest on their home loans. ANZ’s head of home loan products, Sarah Stubbings, appeared before the commission on Tuesday (20 […]
As read in MortgageBusiness online – “Opaque” pricing of discounts on home loan offerings has inhibited borrowers from making informed choices, according to a report from the Australian Competition and Consumer Commission. After monitoring prices charged by the Commonwealth Bank, ANZ, NAB, Westpac and Macquarie Bank, the ACCC’s residential mortgage price inquiry has found “less […]
As read in MortgageBusiness Oline -The major bank has developed a new mortgage product in partnership with a co-ownership platform, positioning the product as a potential solution to Australia’s housing affordability crisis. Launched this week, Kohab is an online marketplace for co-ownership of property and helps potential buyers in three ways: by co-living (whereby one […]
As read in Aust Broker online – The RBA has warned that investors with IO loans might face negative equity more quickly than P&I borrowers if house prices were to drop substantially. RBA assistant governor Michele Bullock said on Monday that a large share of property investors has chosen IO loans because of the tax incentives, and that […]
As read in MortgageBusiness Online – Several industry participants have voiced concern over mortgage stress and the rising risk of defaults, as wage growth fails to keep pace with the costs of living. Approximately 51,500 borrowers could be at risk of defaulting on their mortgages in the coming year, with over 30 per cent of […]
