Monthly Archives: June 2016

Broker market share at all-time high- Australian Broker

As read in the Australian Broker New home lending written through the third party channel has increased by 7% over the past 12 months as mortgage broker market share hits an all-time high. Brokers originated at least $43.4 billion of new home loans during the March 2016 quarter, a 7% increase on the $40.6 billion […]

Major Banks investigating mortgages backed by dodgy foreign income – Australian Broker

  As read in Australian Broker Two of Australia’s largest lenders have uncovered mortgages that have been backed by questionable foreign-income documentation, forcing them to stop approving such loans. ANZ and Westpac have identified issues with some loans that rely on foreign income for approval, the two lenders said in separate e-mails. The statement comes after […]

RBA negative gearing memo warns of risk to rents – Australian Broker

As read in Australian Broker A Reserve Bank memo discussing the impact of changing negative gearing confirms that abolishing the practice would raise rents, a property association has claimed. According to the CEO of the Property Council of Australia, Ken Morrison, the RBA’s internal briefing note made public after the ABC obtained the note under freedom of information […]