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Lenders Domain

Phone: 0415358511

Address: 7 Belgrave Ave 3781

Website: http://lendersdomain.com.au

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25.01.2022 The Reserve Bank of Australia has cut the cash rate to a new record low of 0.5 per cent as it acts to soften the economic impact of the coronavirus.

24.01.2022 First the good news The first piece is that the RBA has indicated its position on reducing rates is gaining momentum Secondly, APRA which enforces the guidelines, amongst other policies, on how banks measure a person’s ability to service debt, has indicated it wants the banks to reduce the benchmark rate, currently at 7.25%. This is the rate at which a bank determines your ability to service a mortgage over time. Not the actual rate you are paying.... On their own, both the above measures will help in making loans more affordable. But don’t be overjoyed just yet In the aftermath of the Royal Commission, the commission found that banks, as well as other lenders, understated borrowers living expenses. Most defaulted to using a HEM (Household Expenditure Method) table to indicate what borrowers living expenses would be. Borrowers living expenses were rarely scrutinized. Lenders were spanked hard and told to clean up their act in their duty of care for responsible lending. Most lenders now require borrowers to state what their living expenses are over 13 categories. Many will scrutinize these by requiring 3 months savings account statements or credit card statements to verify what borrowers have stated, is reasonable, as well as compare these amounts to new HEM tables, the minimum baselines have been raised substantially over the last 6 months. Further, these baselines are now also tiered relative to a borrower stated incomes. In other words, the higher your income the higher your living expenses are deemed to be. To ensure that an application for a mortgage has the best chance of approval you should be prepared. Not only should you have all your documents in order, but you should also ensure you know what your living expenses are. The total of these expenses will be critical in determining your capacity to service a loan. Use a free-living expenses calculator such as the one on the ASIC website (https://www.moneysmart.gov.au//calculators-/budget-planner) Try not to be shocked when you realize how much it costs you to live every month.

24.01.2022 Five questions you need to ask about your mortgage

24.01.2022 Best rate in the house at *3.55% *conditions apply

24.01.2022 A brief summary of the 2019-20 Federal Budget

24.01.2022 If you don't watch or listen to anything else today, please do yourself a service, watch and LISTEN to this video

24.01.2022 In a move that is unlikely to come as a surprise, the Reserve Bank of Australia (RBA) has left the official cash rate on hold at 1.5% after today’s board meeting. After reducing the cash rate by 0.25% at its August meeting, it had been widely predicted that the central bank would not make back-to-back monthly cuts.

24.01.2022 What is going on with my loan rates? Why have the banks put up the rates when the RBA is on hold?

24.01.2022 Big banks 'buck-off' full rate cuts

23.01.2022 The RBA has cut rates to 1.25% if your home loan lender follows suit, you could save thousands of dollars over the life of your loan. Let’s assume you have 25 years left on your mortgage, you still owe $400,000 and your current interest rate is 4.30 per cent (which is the average variable owner-occupier rate ). Here’s how a drop to 4.05 per cent might improve your financial position: Monthly repayments Annual repayments Total repayments... 4.30%* $2,178 $26,138 $653,450 4.05%* $2,122 $25,468 $636,722 Difference $56 $669 $16,728 * Figures based on variable loan paying principal and interest. Does not include fees. There are more than 100 mortgage lenders in Australia, so you’re in a strong position today and you should check to see if your lender passes on the full cut. If not, In that case, shop around, because there’s a good chance you’ll find a lender offering a comparable home loan at a lower interest rate. Many lenders are also offering cashback incentives to refinancers.

22.01.2022 If you’re dealing with the impact of the COVID-19 pandemic and require assistance please see the list below. There are links to the specific web pages for each financial institution that will guide you and provide the process for applying for assistance during this extremely vulnerable time for many of you. The type of assistance will depend on individual circumstances.

22.01.2022 Update: Westpac is the last of the big four to pass on the rate cut, but it is only 20 basis points, effective Tuesday 18 June.

21.01.2022 Just in case you were waiting for the Market to Fall

20.01.2022 Sixteen non-major banks have raised their interest rates in the last few months, likely setting the stage for the majors to follow suit, according to a new report from Moody’s Investors Service. The uptick in rates, mainly in variable-rate home loan products, has to do with the increased cost of wholesale funding and slower loan growth, the agency said. With smaller lenders like BOQ making the first move on headline home loan rates, they have demonstrated their dominance in t...he market at the moment, but that doesn’t mean the majors will hold back for much longer, Moody’s said. As loan growth slows, competition for prime borrowers has become fierce. Even while the non-major banks’ rates may be better, the majors are able to offer higher discounts and other perks.

20.01.2022 Catch up with all the business news. Have a great weekend

19.01.2022 Facts about mortgage brokers

18.01.2022 Chances of a rate cut have dipped, according to futures markets trading, in late week trading before the Australia Day weekend. But are rising again this week has Coronavirus fear grips global share markets.

18.01.2022 The board of the Reserve Bank of Australia (RBA) has decided to keep the official cash rate on hold at 1.5%. This makes it the 16th consecutive month on hold since rates were cut by 25 basis points in August last year. The move was predicted by almost all finance and economics experts across the sector with the general consensus that the RBA will continue to hold rates for some time to come. All 33 panellists from finder.com.au’s RBA cash rate survey forecast a hold call this... month as did more than 91% of brokers polled by mortgage marketplace HashChing. Anaemic inflation, combined with a drop in consumer sentiment, and non-existent property price growth over the last month, will encourage the Reserve Bank to leave the cash rate on hold once again, said Jessica Darnbrough, head of corporate affairs at Mortgage Choice. Michael Witts, the treasurer at ING, said that there was no need for the RBA to take action at this time with the economy running in line with Reserve Bank expectations.

17.01.2022 Need a round-up of what's happening ...check out this pod cast from my good friend Leon Gettler

14.01.2022 What worries Aussie borrowers the most The current housing downturn continues to worry many Australian’s who have a mortgage or looking to buy a property.... #homeloans #investment #mortgage #property #realestate

14.01.2022 Privacy Policy http://lendersdomain.com.au//Combined-Credit-Guide-and-Pri

14.01.2022 You have the best house in the street. But do have a great rate on your mortgage?

13.01.2022 Watch the latest Housing Market Update for Melbourne. The housing and economic data is derived from the CoreLogic Hedonic Home Value Index for the month of May, released June 2017 https://www.youtube.com/watch?v=pZPSefNcCUM

13.01.2022 Thank you for a great year - https://mailchi.mp/fe051eba3018/thank-you-for-a-great-year

13.01.2022 It’s amazing how fast another 12 months rolls around. So much has happened and always with the prospect of so much more to come and look forward too. I sincerely hope that this past year has provided you with many joyous occasions and opportunities to fulfill your dreams and aspirations.... The beauty of it all is that we have the chance to continue and do it all again, with a little more understanding and hopefully some added patience. Most importantly be kind to yourselves as well as others. I wish you and your families all a very enjoyable and safe festive season, and may the forthcoming New Year bring you love, health and happiness whatever your endeavors may be. Take care and be well.

13.01.2022 A brief summary of the Housing market presented by Core logic for Feb 2019. Prices have fallen as expected and lending remains tight. Buyers market especially for investors. Anz announces today that they are again offering 10-year Interest only loans for investors.

12.01.2022 3 Lessons From The Longest Study On Happiness

11.01.2022 When is the last time you reviewed your rates? If you're geared to the max, time to perhaps protect your position. Fixed rates help you hedge your exposure for the future. Fixed rates are still low. Don't expect a warning, when it comes, it will be too late.

11.01.2022 Heroes are inspiring and they also surprisingly improve our lives

10.01.2022 Nailed It ...listen learn and embrace.

09.01.2022 Perhaps it's time to review your investment strategy before new rules and restrictions apply.

09.01.2022 It's about time!

09.01.2022 ANZ and Westpac Group are said to have introduced confidential changes to their assessment and approval of borrowers. The Australian Financial Review reported yesterday (15 February) that ANZ was clipping the discretion of its frontline mortgage assessors. A spokesman for ANZ said the bank recently added "a higher level of approval for some discretions" used in its home loan policy for assessing serviceability.... The spokesman said the move was not a change to the bank's credit policy or underwriting standards and that it applies to all housing loans, not just those originated through brokers. Mortgage brokers claim banks seem to be showing less flexibility in interpreting guidelines on such matters as irregular income when assessing loan applications, said the AFR. The report also said that Westpac recently introduced strict tests of residential property borrowers' current and future capacities to repay their loans. The change is said to be intended to identify scenarios that might affect borrowers' capacity to pay back their loans. These scenarios include having dependents with special needs that might require borrowers to spend on long-term care and treatment. Brokers who make any changes to a loan application that has been submitted have to alert the bank from 26 February, said the report. Earlier this month, Westpac amended its borrowing terms, including allowing the use of desktop valuations only for a maximum LVR of 90%. A Westpac spokesperson told Australian Broker that the bank has also updated its household expenditure measure in line with the benchmark published by the Melbourne Institute for Social and Economic Research. This followed Westpac's announcement in December that it would require home loan borrowers to disclose what they owe on short-term buy-now, pay-later loans on digital credit platforms like AfterPay and ZipPay. The move was part of the bank's effort to bolster its assessment of borrowers' loan serviceability. Stricter assessment of borrowers' ability to repay their loans will likely become the norm among lenders now that APRA is focusing on serviceability in its proposal that targets higher-risk residential mortgage lending. The prudential regulator released a discussion paper on 14 February proposing changes to authorised deposit-taking institutions’ capital framework and addressing what it calls systemic concentration of ADI portfolios in residential mortgages.

09.01.2022 Sometimes in life we just need someone who will be there for us

08.01.2022 Have some fun today

07.01.2022 Top 3 symptoms of procrastination and how to overcome them

06.01.2022 Time for a home loan rate review with a free property report. https://lendersdomain.com.au/annual-reviews/

04.01.2022 #homeloans #investment #mortgage #property #realestate

04.01.2022 #homeloans #mortgage #realestate

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02.01.2022 The Reserve Bank of Australia (RBA) has made it two consecutive months of inaction for Australia’s official cash rate. In what was a widely predicted outcome, today’s RBA board meeting ended with the cash rate remaining at 1.5%, the same outcome that occurred after September’s board meeting.

02.01.2022 Three ways to relieve feeling frustrated

01.01.2022 The best investment is in Life. A few wise words from Tim Minchin

01.01.2022 T.G.I.F THANKFUL, GENEROUS, INSPIRE, FAITH