Mortgage brokers have said serviceability issues are the primary hurdle for their clients looking to refinance, the MFAA’s new survey has found. According to the latest survey findings released by the Mortgage & Finance Association of Australia (MFAA), 87 per cent of respondents cited serviceability as the “number one” barrier to refinancing, up from 83 […]
Despite rising home values, new home lending volumes dropped in December 2023, new ABS figures have shown. According to new statistics from the Australian Bureau of Statistics (ABS), the value of new mortgage lending dropped to $26.3 billion in the month of December compared to $27.3 billion the previous month. Moreover, the latest Lending Indicators data from […]
The Federal Court has ordered the major bank to pay a hefty penalty for unconscionable conduct. National Australia Bank (NAB) has been slammed with a $2.1 million penalty for continuing to charge periodic payment fees despite the major bank knowing it was wrongfully overcharging customers in what the Federal Court has deemed as unconscionable conduct. […]
A personal finance marketplace has said the number of home owners struggling to refinance due to serviceability issues has jumped to 30 per cent. Personal finance marketplace Compare Club has revealed the number of home owners struggling to refinance due to serviceability issues has doubled from 15 per cent to 30 per cent in under […]
In today’s economic climate of rising living costs and financial uncertainty, home buyer education via mortgage brokers is key to ensuring more people have the opportunity to achieve financial wellbeing through home ownership. Equipped with the necessary tools and resources, mortgage brokers are being increasingly seen in the market as trusted, reliable advisors and supporters […]
Nearly all of the residential loans written by AMP Bank in the last six months have come from the broker channel, according to the lender. Financial services group AMP has released its financial results for the first half of the calendar year 2023 (1H23), revealing that its mortgage book grew 8.3 per cent on last […]