The Commonwealth Bank and Australian Housing Association (HIA) Index declared housing affordability to be at its lowest in 23 years. The daily papers all shared the pain being felt by home owners across the country, with the HIA estimating that average weekly mortgage repayments now account for around 30.8 per cent of first home buyers’ incomes.
HIA managing director Ron Silberberg claimed the crisis was “not part of some cyclical trend that will correct itself”, stressing the need for government action.
When it comes to banking and finance, there is one thing that customers put above all else when choosing a lender: trust. Creating trust is a long and complex process, but one segment of the market seems to have been doing it particularly well this year: customer-owned lenders.
While many feared that the exodus of major banks from the SMSF loans space would spell the end of SMSF borrowing, the volume of SMSF loans remains steady, with many non-bank lenders filling the gap. We take a look at the ins and outs of SMSF lending.
Lender’s mortgage insurance plays a leading role in ensuring borrowers don’t take on more home loan debt than they can service. Recently, the market has consistently been the subject of discussion. In this feature, we take a look at what’s been happening in the LMI space and how keeping pace with these changes can allow brokers to act as the go-to guide for borrowers.