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For the next 12-18 months it looks to be business as usual. As banks will continue to pay commissions for this period with a reasonable amount of certainty.  More importantly it looks like existing client loans will continue to have trail paid.  The changes will effect new loans written after

The ACCC has recently reviewed the big banks and found that on average  a new to bank client will be about $850pa  better off then an existing client with the same bank.  The banks were found to make if difficult for consumers to work out what was a good rate. 

Here at Mortgage Advice we are a percentage based fee for service firm (mostly*).  The royal commission and the major lenders, (Hi there big Yellow), think it could be easy for all brokers to switch to a fee for service model.  But it is not an easy thing to do, let

The banks are moving interest rates outside of RBA movements. While annoying there are reasons for this which I won’t bore you with. But what is most disappointing is that they will likely move the rate for existing customers, while increasing the discount offered to new customers coming to the

As the banks fall inline  with APRA’s  demands to lower the amount of interest only and investment lending.  Borrowers are feeling the pinch in a few ways.  1)  The borrowing capacity calculators used by most banks have become less generous. With lenders changing (lowering) the amount of rental income that can

This is a question that we get every now and then.  As people look to pay their loan off and receive bonus points or rewards on their credit card. Its a great theory…….  But here are the problems.  1) Most banks don’t allow payment to be made from a credit

Below is an article published by Australian Broker, an industry publication . I wanted to bring parts of this article to the general public’s attention. At Mortgage Advice we are fee for service- Which means once our fee is paid we pass on the ongoing(trail) commissions to you the client.

So some of you may have seen that in the last week a couple of the major banks are lifting their fixed rate mortgages. This is generally a good indicator that variable rates will be on the rise in the short- medium term. That said many banks haven’t moved them

Most banks use credit scoring to assess loans. This involves not just looking your credit history but the full dynamics of your application. This week, I would like to assist you by outlining some tips to get the best result on the scorecard with NAB : – 1. The higher

We are coming into summer and we thought it might be time to talk about what you can do to prepare and be fire safe. While not the sexiest topic of conversation it really is a good idea to have a quick think about it. All it takes is a