PETER'S BLOG

News Views and other stuff

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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...

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    Royal Commission Delivers Report – What Now?

    The Royal Commission delivered their long awaited report on the banking industry, making numerous recommendations across the finance industry. This included reviewing and proposing overhauls to the mortgage broking sector, without any consultation from broker industry stakeholders

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    Happy Holidays - Time To Close Off Another Year!

    ​​The year has flown by in the blink of an eye! For borrowers, interest rate stability and record low interest rates continued to dominate throughout the whole year. ​

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    It’s A Buyers’ Market – Time To Buy Something!

    The Royal Commission, this year tasked with deep-diving into the Australian banking system and responsible lending practices, It is a buyers’-market, buyers should be purchasing property simply because conditions are perfect and those selling are doing so because they have to for one reason or an...

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    RBA Interest rates…no change 19 months – should I refinance?

    September saw a number of lenders increase their housing interest rates outside of the RBA cycle, If you have a home loan, and it starts with the number four (4.) then yes you should be talking to a broker

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    Where should I buy? Inner City or Outer Suburbs?

    Over the past thirty years or so, Melbourne property values have been a major talking point for many Australians - So where should you buy?