Category Archives for "News"

APRA Announce Removal of Interest Rate Restrictions
Dec 19

APRA Announces Removal of Interest Rate Restrictions

By Shane | News

In March 2017, the Australian Prudential Regulation Authority (APRA) introduced measures to reduce the amount of interest-only loans in the residential lending market. One of these measures was a benchmark for lenders to keep new interest-only lending below 30% of their total new lending.

On the 19th December 2018, APRA announced that they would be removing this benchmark as they have noted that there has been a noticeable reduction in the amount of new interest-only lending, with the proportion now significantly below the 30% benchmark. Continue reading

Mar 13

Here’s What You Need To Know About The Changes To NSW Strata Laws

By Shane | News

There are more than 90 changes to the strata laws that came into force in NSW on November 30 2016. Forced sales is the big ticket item in the strata law changes. Below are some key changes that will affect you in ways you might actually notice.

The government prefers to call it- collective sales. But it basically means that 75% of owners can compel the other 25 to do something radical with a building that may or may not be well past its use-by date.Continue reading

Mar 10

What You Need To Know About The Bankwest & CBA Investment Lending Changes

By Shane | News

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Commonwealth Bank of Australia, along with it’s subsidiary Bankwest, has slammed the brakes on property investment lending for new customers. With the increasing charges by up to 60 basis points and constricting terms and conditions for expatriate and overseas’ customers, it has become tougher for existing customers with investment loans.

The changes in the terms and conditions has failed to wholly explain to its customers or mortgage brokers, that act as intermediaries between the bank and clients, the reason for the move. But it is suspected the bank has exceeded or is close to the Australian Prudential Regulation Authority 10% lending speed limit, which is calculated on a monthly rolling basis.Continue reading

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