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Mortgage Musings

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25.01.2022 DID I HEAR THE SOUND OF A COMMON-SENSE APPROACH TO MORTGAGE LENDING?? In the words of Victor Meldrew... "I don't believe it!" https://www.accreditedbroker.com.au/why-changes-to-respons/

23.01.2022 Wow! Really?!?! I must be pretty niaive as I had never even thought of sending someone as abusive message with their online payment. I would suggest that they use social media or email for the abuse (if absoultely necessary!) and just use the banking platform for what it is intended; financial transactions ... https://www.theadviser.com.au//41494-major-banks-reveal-ma

23.01.2022 Although this could end up costing more in the long run, it aslo has the added benefit of giving home buyers more opportunities to purchase a home and get into the currently rising property market... At the very least, it gives buyers a choice and that choice is something they don't currently have. I love this and hope it will be introduced nationwide https://www.theadviser.com.au//41026-nsw-seeks-to-scrap-st

20.01.2022 If you’re unsure what happened in 2008 (AKA; the GFC; and more to the point; what happened leading up to then!), watch ‘The Big Short’. It’s a story within a story of how certain groups of people saw the inevitable disaster that was the US housing market, and tried to profit from that. The underlying story is of course the greed and stupidity of US banks and Mortgage Brokers... ... We learned a lot then, but make no mistake - Greed is still here! So be vigilant and make sure you take your important advice from someone you trust to tell you what you need to hear. Not what you want to hear...! https://www.google.com/search?q=the%20big%20short

16.01.2022 PERTH PROPERTY MARKET Here's a thought, and please excuse my French, but if you're in a position to buy in Perth right now, why the f#@k would you be waiting any longer?? Perth prices have gone up a lot over the past few months, as have all of the Australian capital city properties, and some more than Perth.... The difference is that in a lot of those OTHER cities FHO's and other buyers are priced out of the market. The property prices are phenomenal! In Perth, and particularly after 5 years of steady declines in home values (from about 2015-2020), we now have the lowest home values in the country (see attached article). Most experts believe this will not remain so forever, and the signs appear to be there. So why wait? So you can spend a sh#t more later?!?! If you're in a position to buy, waiting is probably not in your best interests...

13.01.2022 Jeez, it's a jungle out there! And if you're in any doubt about what I'm referring to; just read the attached article to get your head around the new BID (Best Interest Duty) and respopnsible lending obligations and you'll hopefully see what I mean. IT'S IN ALL BROKERS BEST INTERESTS TO LOOK AFTER OUR CUSTOMERS. Simplz! If we don't - we don't have a future! Simplz! Any that don't tend to have a very short career as a Mortgage Broker. We now have to document everything to show... that we're doing the right thing by the customer, and that's all fine. But it'll be so much easier when they (the Govt) finally get their act together and put it into plain and decipherable language exactly what we're expected to do TO KEEP THEM HAPPY! Thankfully our customers for the most part are already happy with the service and assistance we provide them, AND THAT'S WHY THE BROKER MARKET IS SURVIVING AND IN MANY CASES EXPANDING... https://www.theadviser.com.au//41058-aba-calls-for-best-in

12.01.2022 Yay!! "Western Australia had the largest increase in housing finance for the purchase of property over the September quarter, rising over 55%. This further ...supports the view that the WA and Perth dwelling markets are resuming an upswing following the disruption of COVID-19" https://www.corelogic.com.au//trends-housing-finance-show-

04.01.2022 Big news for those of us at Aussie... again! I'm not too sure how this will affect us and our business at this stage. Hopefully not much at all or possibly for the better? Only time will tell... Certainly when CBA took over Aussie there was very little difference with John and then James Symond at the head of things, so we'll see... Watch this space! https://www.theadviser.com.au//41142-aussie-and-lendi-to-m

03.01.2022 MORE POSITIVE NEWS! As my own customers would be aware, we as Mortgage Brokers at least TRY (being the operative word!) to contact our customers at least annually to see if we can keep their variable rate loan at a competitive interest rate with the lender we helped them get the loan(s) with... Now it seems that the banks may have to be more pro-active in that regard too! Although with them there would be no obligation for the first 3 years. And then of course is the other is...sue; you can lead a horse to water... https://www.theadviser.com.au//41098-lenders-should-prompt

02.01.2022 I suppose there are always some bad apples in every industry and organisation, but I'm also sure that some of these complaints will be simply thanks to sour grapes and frustrations. Having said that; 1% of financial related complaints is a bloody good record considering... I know that the vast majority of Mortgage brokers always do their best to assist those who seek out our help and guidance. And by doing so we survive year after year... 18 years for me ;-)... To NOT look after our customers would result in business suicide. Perhaps where part of that 1% comes from. Plus, it just feels great to help people achiceve their goals where finance is required and is much less short-sighted. I don't think it needs a lot of insight to realise what a good system we have here, and why the amount of loans written by Mortgage Brokers continues to grow. https://www.theadviser.com.au//41400-mortgage-broker-compl

01.01.2022 One day after posting the article below from the Australian Financial Review, our Boss, mentor and founder of Aussie has decided to hang up his abacus and enjoy life outside of work and business. While this is an emotional time for all of us who've known John and have felt part of his Aussie family for the past several years, I'm sure many if not all of us wish him well in his retirement and eventual dotage. https://www.theadviser.com.au/br/40976-aussie-john-retires