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.