Tag Archives: Banks

HomeStart Finance Joins Aussie Home Loans Panel Lenders

HomeStart Finance, the South Australian lender specialising in loans for customers who struggle to obtain home loans from mainstream lenders has joined the panel of lenders available to Aussie Home Loans 75 brokers. The lender has settled loans for 1,779 buyers with a portfolio of $510 million in the 2018 financial year, with 90 percent of customers unable to source

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Mortgage Broker Reforms: Everyday Australians Will be Hardest Hit

Aussie Prospect Franchisee and mortgage broker Bechara Boutros is warning that everyday Australians will be the hardest hit if the reforms proposed by the Financial Services Royal Commission are fully introduced. The warning follows the release of recommendations by the Hayne Royal Commission, which include significant changes to mortgage broker remuneration, including a consumer-paid fee for service. Mr Boutros said

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Bank of Mum & Dad Lending Reaches $20b

Unregulated Bank of Mum & Dad loans soar to $20 billion Average loan is $88k up from $30k in 2010 Bank of Mum & Dad now a top 10 bank, with 60% of first time buyers requesting financial assistance in 2018 While regular financial institutions are making property loans harder to acquire (even rejecting applications for Afterpay, UberEats & Netflix

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Banks Rejecting Loans Based on AfterPay, Netflix & UberEats Expenses

Banks rejecting loans after looking closely at discretionary spends, rejections due to spends on app based services AfterPay accounts can’t be verified by banks, and customers can hold multiple undisclosed AfterPay accounts Loan application times have doubled, with increased scrutiny Georgina, 29, worked to save a 30% deposit on her first home, and when she applied for a loan through

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RBA and the Interest Rate

RBA and the Interest Rate The Reserve Bank of Australia decided to hold the current interest rate at 2% last Tuesday. What were the influences on the RBA’s decision? Multiple aspects determined the RBA’s action, which were detailed in their press release and summarised as follows: The World Economy: The RBA referenced indicators that showed the world economy is continuing

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