PETER'S BLOG

News Views and other stuff

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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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    Even the Government is suggesting you refinance this month, but why?

    For Australians with a home loan, we’re dealing with two major factors that you should know about right now. The first factor is that banks have never been more competitive for your business, and the second factor is that those same banks, ironically, are largely failing to pass on the full rate ...

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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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    Buyers benefit from favourable borrowing terms as market recovery begins

    Data released by the Australian Bureau of Statistics (ABS) last week points to additional evidence Australia's housing market is showing further signs of recovery, thanks to a surge in the number of people who are borrowing. The ABC reported the value of new loans issued to households jumped 3...

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    The game has changed: Six items banks are keeping a closer eye on when assessing your loan application.

    ​Despite record low interest rates, and the recent loosening of some borrowing regulations, it’s actually become harder to secure a loan. Why? Because major lenders are more closely scrutinising how people spend their money. But what exactly are they looking at and what are they looking for? Whic...

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    Could a rate cut in October coincide with a turn in the market?

    ​Historically, one of the best barometers for the health of the property market is auction data… So, I asked my colleagues at Australia’s largest real estate company - Ray White - to share their nationwide auction stats looking back at the year that has been. They collect this data every weekend,...

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    When is cheaper not necessarily better?

    ​With all the hype around record low interest rates it's easy to get tunnel vision and focus only on the lowest number when choosing a home loan provider, however finding the right loan is about much more than just the best rate. When assessing possible options for home loans, borrowers frequentl...

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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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    Shares, cash, real estate and record low interest rates.

    We’ve not seen interest rates at this level since the 1950s, so what are the opportunities and pitfalls that come with a cash rate at one percent for everyday investors?​ Low interest rates represent benefits in some investment categories, and hurdles in others. So how do you make low rates wo...

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    Selling this Spring? You only have eight minutes to make an impression.

    ​A recent study has revealed that it takes only eight minutes on average for home hunters to decide whether or not to buy a particular property. That’s swift! Even more-so if you consider that buying a home is the single biggest purchase a person will make in their lifetime. So if you’re selling ...

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    Market begins recovery, but borrowers are being caught unawares.

    “We’re very confident the housing market has bottomed,” proclaimed Australia’s largest property developer last week. But loans are still an issue, needlessly. Make sure your spring buyer clients are prepared sooner rather than later.

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    What do mortgage brokers and gardeners have in common?

    ​If you’re a green thumb: you know one plant species from the next, you have a sense of landscaping styles, as well as the skill, equipment and time, then you don’t necessarily need a gardener. But if you’re lacking time, knowledge, the requisite skill or maybe just don’t want to get your hands d...

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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...