When it comes to Australia’s most expensive home, the rumors are as juicy as the price tag. “Aussie” John Symond’s $200 million Point Piper palace, Wingadal, has long been shrouded in mystery – and the talk of 24 toilets. A Lavish Loo-Filled Lair Symond, the mortgage mogul behind Aussie Home Loans, spared no expense when… Read More »
ANZ has launched a pilot mortgage product that offers special deals to borrowers in 145 select postcodes, primarily in wealthy areas of Sydney like Double Bay, Rose Bay, and Bronte. The new mortgage product is targeted at high-income borrowers, requiring a minimum income of $400,000. Borrowers can take out loans between $5-8 million without needing… Read More »
NSW Fair Trading last May established a dedicated underquoting team to address “rising concerns” about the practice. This practice is harming the income of Mortgage Brokers. Underquoting by real estate agents is becoming more frequent across Australia as a lack of regulation and weak enforcement frustrates those in the property market and forces up prices,… Read More »
The mortgage industry in Australia is undergoing a significant transformation driven by the rapid advancements in artificial intelligence (AI) technology. While mortgage brokers have traditionally played a crucial role in the lending process, there is a growing consensus that AI will eventually replace their services, and this is a positive development for both borrowers and… Read More »
A Brisbane couple has been left with nothing after taking out a loan with a second-tier lender. They say they were pushed out of their home. Now, lawyers are fighting to recoup the equity of the property alleging the deal was unlawful.
In recent months, lenders have been quietly adjusting their mortgage rates and pulling back on key incentives, signaling an end to what experts have dubbed the “mortgage wars.” Despite the Reserve Bank of Australia (RBA) keeping the cash rate steady, banks are making moves to shore up their bottom lines and prepare for potential rate… Read More »
The average mortgage size in Australia has soared to a record high, fueled by surging prices and rising interest rates. According to recent data released by the Australian Bureau of Statistics, the national average new mortgage size hit $624,383 in December 2023, marking an all-time high. Across states and territories, Queensland, South Australia, and Western… Read More »
The dream of homeownership can sometimes push individuals to desperate measures, as highlighted by recent data indicating a surge in deceptive practices on loan applications. More prospective borrowers are resorting to dishonest tactics, such as inflating their income or downplaying expenses, in a bid to secure a mortgage. In this article, we explore the adverse… Read More »
There seemed to be a glimmer of hope for financially strained Australians, but all indications now point to a significant downturn. When the Reserve Bank of Australia (RBA) decided to keep interest rates unchanged in April after 10 consecutive meetings, many believed that rate hikes were behind us and that a sluggish domestic economy would… Read More »
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