By Llew Leeming, Head of Development & Investment Finance at PCL Money Last week we settled a Private Money Development Finance loan for an old client and friend of mine. We also worked in collaboratively with my Client’s accountant as part of a collegial ‘value chain’. The Value Chain is an enduring legacy from my…
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APRA has announced it will remove the 10% annual cap on investor housing credit growth for some lenders. It expects ADIs to develop internal limits on lending at very high debt-to-income levels, and policy limits on maximum debt-to-income levels for individual borrowers. Restrictions on interest-only mortgage lending introduced in March last year will also remain…
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There has been a slowdown in the buying of family homes and investment in commercial and residential property in Australia. The level of new businesses has decreased. This is because we have an increased level of uncertainty in the Australian economy at the moment. People traditionally are less inclined to invest if there are perceived…
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The mortgage fees and practices by the major banks have been examined in a new study by the Australian Competition & Consumer Commission (ACCC). It stated that the discretionary pricing practices of residential mortgages by the banks are not clear to many borrowers. This is costing Australian borrowers more money every year. The ACCC said…
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This is Tim and Jess, real life parents who want to consolidate their debts. Tim and Jess have two kids and there’s another on the way. They have multiple debts on top of their monthly mortgage, so things are tight. They want to secure some cash out to reduce a major liability and simplify their…
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We often hear about young home buyers having difficulty getting finance to buy their first home and get into the housing market. But what about older people who are trying to get a home loan? Approximately 15% of people in Australia are aged 65 and older, according to the Bureau of Statistics. Older Australians might…
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One Sydney-based Business Development Manager and former mortgage broker Hank Hong, says that one in three clients are unable to obtain a loan as a result of credit tightening policies implemented by lenders. “It’s [credit tightening] affected servicing and how much you can actually lend based on incomes,” Mr Hong said. “Certain offers that they…
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This is Dave, a real life borrower who achieved his goal with an alternative home loan solution. Having worked hard to get his business humming, Dave was now in a position to buy his own place. But he hadn’t finalised his tax returns with his accountant so his bank said no to a loan. How…
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This is Elsa, a real life borrower who achieved her goal with an alternative home loan solution. Elsa had worked really hard to get her personal training business up and running. Things were going well and she was feeling ready to buy her own place. But because she’d only been in business 6 months, her…
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In Australia we have a competitive finance industry and have a rich variety of finance deals available from many different lenders. Are you confident that you have found the best loan deal on the market? You could well be paying more than you need to for your business or home loan. Many Australian homes and…
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