One-in-five mortgage brokers did not write a single loan in the six months to March 2023 and could be out of touch with the market.
When you see your accountant to do your tax return,you could be introduced to a mortgage from Unloan,a division of CBA.
After an outbreak of fierce competition in the $2.1 trillion mortgage market,analysts are pointing to signs big banks are no longer offering home loan rates that are near the cheapest available.
Some banks are poring over applicants’ recent bank statements to ensure they can afford to service a loan at today’s higher interest rates.
Though most borrowers in Australia opt for monthly home loan repayments,making repayments fortnightly instead could provide greater savings.
For first home buyers,is it worth getting a mortgage broker,or just working it out yourself?
Finspo plans to develop technology that would automate part of the mortgage broking business by generating advice to help clients pick a loan.
Mortgage brokers are getting calls from homeowners seeking a bigger change than refinancing or asking for a better deal,but it’s not for everyone.
Monthly mortgage repayments for a $500,000 loan jumped 42.2 per cent while the wage price index grew 2.7 per cent between March and December.
Debt-laden families struggling with rising interest rates are being warned of the risks involved in one strategy to cut their monthly repayments.
Rising numbers of homeowners are unable to refinance into a more suitable home loan as interest rates rise,and a perfect payment history isn’t enough to save them.