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BROKERS WRITE TWO-THIRDS OF AUSTRALIAN MORTGAGES

Brokers wrote two-thirds of Australian mortgages in the September 2021 quarter! According to MFAA, mortgage brokers wrote a record 67% of all new residential home loans in the September quarter. More than two in three home loans were written by mortgage brokers between July-September 2021. The previous record of 60.1% …

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VICTORIA RELEASES $500M HOME- BUYER FUND

Victorians, did you know there is a new home buyer fund? The Victorian government has introduced the $500 million Victorian Homebuyer Fund (VHF), which is expected to support more than 3,000 home buyers. Eligible participants will only require a minimum deposit of 5 per cent, while the government will provide …

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APRA CHANGES TO LENDING

Australian Prudential Regulation Authority (APRA) has announced changes to mortgage lending rules for banks. APRA has told lenders that by November, it expects they will assess new borrowers’ ability to meet their loan repayments at an interest rate that is at least 3.0 percentage points above the loan product rate. This …

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