More than 90 per cent of mortgage broker customers are happy with their mortgage broker's performance according to a recent report by Deloitte on the 'Value of Mortgage Broking'. Summed up perfectly in the executive summary - mortgage brokers make mortgage markets work better; they increase choice and competition between lenders, leading to better service levels and more competitive mortgage pricing.
While Bill Shorten could never get his nose in front of Malcolm Turnbull as "better prime minister", the Opposition Leader holds a 39 to 33 per cent lead over new prime minister Scott Morrison.
Shorten is proposing to halve the current 50 per cent capital gains tax discount on investment properties to 25 per cent on all assets purchased after July 1, 2017.
And he will abolish negative gearing on all assets bought after July 1, 2017, other than newly constructed dwellings.
From crowded unit markets in the Sydney, Melbourne and Brisbane inner cities to still struggling towns in regional Queensland and Northern Territory, the warning signs are clearly visible, according to hotspotting.com.au.
Sharply higher funding costs yesterday sparked a 2.4 per cent fall in Westpac shares, as market volatility in cash markets crunched the bank's profit margins, adding to pressure on Australia's biggest banks to raise mortgage rates.
Numerous small lenders have already moved to hit borrowers with rate rises, but the major banks that control 75 per cent of the $1.6 trillion mortgage market have not yet moved because of political pressure on the lenders arising from the revelations at the Royal Commission.
New Zealand's Parliament has passed a law to ban many non-resident foreigners from buying existing homes, completing the Labour-led Government's election campaign pledge.
With the shadow of the Royal Banking Commission still hanging heavily over the major banks, they don’t really want to give politicians another stick to beat them with but as UBS analyst Jonathan Mott told clients on Monday, “the spread between the bank bill swap rate and the overnight index swap rate was at its highest since the financial crisis. Put another way the “yield curve”, a line that plots fixed interest securities against the length of time they have to run to maturity
There are plenty of opportunities for sharp-eyed property investors with a lazy $500,000 looking for a home or apartment in most of the capital cities but where are the real bargains?
APRA, the Australian Prudential Regulation Authority last year forced the banking sector to limit interest-only (IO) lending to 30% of all new loans, down from 46%. Today borrowers holding some $400 billion in IO loans are facing arguably the tightest lending squeeze in modern history in addition to out of cycle bank increases to interest rates.
There are few feelings of financial disappointment greater than scrimping and saving(not to mention begging and borrowing) for a deposit only to see the prospects of living where you want, in a style to which you aspire, disappear over the affordability horizon. Various studies have disagreed on whether renting or buying – over the longer term is the better option but what if you could have your cake and eat it too?
Much has been written and broadcast of late suggesting the Chinese are intent on world domination over the next 20 or so years. So much so that tensions between many countries and the Chinese are as strained as they have ever been; snapshot last Tuesday’s concerted effort by the Turnbull government to smooth over strained relations with China. My personal view is the Chinese are very adept at taking advantage of countries, states and private and public corporations experiencing funding pressures to deliver on promises previously made. Take the recent investment by Chinese firm Aqualand in the listed but ailing McGrath real estate business