The Reserve Bank of Australia (RBA) will need to reduce the official interest rate by at least another half a percentage point next month to pressure major banks into passing on reductions to customers, says leading mortgage broker Priority Lending. Priority Lending Corporate Spokesman Paul Smith said the big banks had all indicated they might…
Australian home owners drawing upon revolving lines of credit for their mortgages have dropped off dramatically since the global financial crisis, says leading mortgage broker Priority Lending. Priority Lending Chief Operating OfficerDean Rushtonsaid latest Australian Bureau of Statistics (ABS) data showed that take up of line of credit home loans was at a 13 year…
The Reserve Bank of Australia (RBA) reducing official interest rates has encouraged consumer confidence and generated growth in the home finance sector, says leading mortgage broker Priority Lending. Priority Lending Chief Operating Officer Dean Rushton said the latest official home loan approval figures for November, 2011, from the Australian Bureau of Statistics (ABS) displayed an…
First time buyers are expected to be the most active player in the Australian home finance market during 2012, a national survey has found. The poll of its own brokers by leading mortgage broker Priority Lending found 36 per cent believed first home buyers would dominate the housing finance market this year. Priority Lending Chief Operating OfficerDean…
Nearly half of Australian home buyers use a mortgage broker to secure a home loan rather than approaching their banks or lenders directly. Not all brokers are the same so it is important to find a broker who is experienced, has strong relationships with lender assessment teams and is knowledgeable on loan products, loan assessments process, time frames and…
Lower interest rates and growing consumer confidence will help stimulate the home finance market in 2012, says leading mortgage broker Priority Lending. Priority Lending Corporate Spokesperson Paul Smith said the outlook for the coming year was more positive after some challenging economic conditions during 2011. “The year ahead looks quite promising with the likelihood of…