Mortgage brokers will continue receiving trail commissions beyond 2020 under a federal coalition government, with Treasurer Josh Frydenberg revealing a plan to scrap them has been dropped.
Shares in Perth-based Australian Finance Group and in ASX-listed Mortgage Choice plunged today on concerns the mortgage broking sector will be one of the biggest losers from the banking royal commission, which recommended the banning of commissions paid by lenders to brokers.
Home loan approvals for construction of new homes in Western Australia show the heat has come out of the market considerably, with the number of loans issued down 14 per cent on the same time last
A surprise fall in home loan approvals in November shows the national housing market is starting to moderate and a rate cut should be on the cards early in 2015, according to the Real Estate Institute of Australia.
MORTGAGE brokers have taken a battering over the past two years so perhaps it's not surprising that the big franchise groups in this sector have focused on service to retain support.
Listed accounting and financial services group Count Financial Ltd has taken a 4.9 per cent interest in Mortgage Choice Ltd after earlier discussions of a possible merger between both companies.
Competition in Western Australia's mortgage broking market looks set to intensify this year as three of Australia's most successful non-bank lenders prepare to open new branches across the state.
WA home loan borrowers are increasingly using the equity in their homes to renovate or for investment purposes, according to data released by mortgage brokers Mortgage Choice Ltd today.
