PETER'S BLOG

News Views and other stuff

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    Cash Rate Drops To All New Lows…..

    One area most recently impacted has been our official Cash Rate In response to a sluggish economy and looming concerns over the ongoing impact of the coronavirus on business in general

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    Cash Back Offers – Do You Home Work…..

    It’s the time of the year when many lenders start to go into new business drive mode and put out some seemingly great offers for home loan borrowers to entice them to switch to a more cost effective product, in many cases there are some good savings to be had, but there is always a flip side, oft...

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    Happy New Year - Happy New Decade

    2020 has started with a big ‘bang’ so to speak. Unfortunately, much attention has been around the poor souls caught up in the terrible bush fires still blazing out of control throughout the east and west coast of Australia. Read more....

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    Happy Holidays – End of the Tweens, bring on the Twenties!!

    2019 will certainly be a year to remember with respect to housing interest rates in Australia. The RBA have declared our official cash rate will hold this month at 0.75%

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    Income Verification – How It Impacts Your Loan Application

    lending and qualifying criteria continues to be ever changing, much of the interpretation around income verification is being questioned by lenders

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    Living Expenses – Tightening Credit Criteria (cont)…

    Over the past six months or so, borrowers’ living expenses on loan applications have been under the spotlight, with mortgage brokers seemingly scrutinising further and further, in accordance with lender requirements

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    Tightening Qualifying Criteria – Borrowers Beware…

    With the introduction of the responsible lending framework set down by ASIC and APRA post the Royal Commission, we have seen a rise in frustration from borrowers due to the increased information being requested from lenders and the longer turn-around times of the required verification procedures

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    Fixed Rates - Break Costs Explained.....

    Imagine you have just refinanced your home loan and made the decision to hedge your bets by fixing this new loan for 5 years as the fixed rate offer seemed pretty good at the time and all market indications pointed to rates not getting any cheaper according to expert opinions. You split your home...

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    Home Loan Approved – Do’s and Don’ts

    You need to have a basic, stable source of income, (a job of sorts helps). If your sole form of income is Centrelink payments, this is not going to be sufficient

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    RBA cuts cash rate after 32 months – good or bad?

    The federal election went into full swing and people voted accordingly, opting to keep the current government running the country rather than handing over to the Opposition, who were set to make soooooooo many changes within the financial sector, it potentially could have had a catastrophic impac...

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    Borrowing with friends – something to consider?

    With all the talk in recent months around home loan lending and affordability in the after-math of the recent Royal Commission into finance and banking practices, one very big change that has been immediately evident is the credit squeeze forced onto new borrowers, as part of the process of lende...

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    Home Loan Health Check -Do It Now

    Lenders have this amazing ability to increase home loan interest rates outside of the RBA cycle, simply because they can.

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    March Madness Post RC Report– Borrowers Still Winning

    Following on from last month’s Royal Commission Report and the recommendations made, people across Australia have come out in force to support the Mortgage Broker industry as they recognise it as a valuable and important part of home loan lending in today’s space. Not to mention keeping the big b...