Below you'll find a list of all posts that have been categorized as “Home Loans”
This month, the findings of the damning final report from the Banking Royal Commission into the financial services industry were handed down. High Court justice and royal commissioner Kenneth Hayne unveiled 76 recommendations for key aspects of the banking, superannuation, financial advice, and the rural lending industries. While the final report totals 530 pages, a quick summary of the recommendations …
In response to regulator intervention and the influence of the Royal Commission findings, the past few months have seen big changes when it comes to borrowing. The regulator now expects banks and other lending institutions to conduct a detailed assessment of the spending habits and living expenses for anyone looking to change their lending or enter a new borrowing arrangement. …
What is LMI? Lenders’ Mortgage Insurance (LMI) is insurance that a lender takes out to protect itself against the risk of not recovering the full loan balance, if you, as the borrower, are unable to meet your home loan’s repayments. If this occurs and the property is sold, any shortfall between the outstanding loan balance and the proceeds from the …
In the current home loan lending environment, the duration of loan approvals for some borrowers has increased significantly as lenders increase their restrictions and scrutiny on applications as a result of APRA and the Banking Royal Commission. This has made it harder than ever for some to get finance. Before you look to purchase a home, ensure you use an …
