Policy Changes

Home Loan With Spouse’s Income

personOtto Dargan access_timeJune 11, 2014

Many couples choose to separate the ownership of assets from the source of income. For example, the husband may have a good income and the wife may buy the family home in her name with a home loan in both names. Unfortunately, many banks don’t like this structure or many...

Read more

APRA Tells The Banks What To Do

personOtto Dargan access_timeJune 5, 2014

Did you know that the Australian government monitors and reviews the lending criteria of the banks? The Australian Prudential Regulation Authority (APRA) released for consultation ‘APG 223 – Residential Mortgage Lending’, a draft prudential practice guide intended...

Read more

Mortgages Over $1,000,000

personOtto Dargan access_timeMarch 13, 2012

Many lenders have changed to stricter policies on loans over 80% of the property value for mortgages over $1 million. This is due to changes made by the lenders mortgage insurers. The insurers have their own restrictions and will not insure the banks and lenders if you are...

Read more

NSW Mortgage Witness Requirements

personOtto Dargan access_timeNovember 3, 2011

The New South Wales (NSW) Government has recently passed legislation tightening the witnessing requirements for mortgages over NSW property. Previously witnesses for NSW Mortgages were only required to have known the person signing the Mortgage personally or be provided with...

Read more

NSW To Restrict Stamp Duty Exemptions

personOtto Dargan access_timeSeptember 13, 2011

From January 1, 2012, New South Wales first home buyers will only be eligible for a stamp duty exemption on newly built and “off the plan” homes. These changes will significantly disadvantage a large majority of first home buyers, as over 80% of homes bought in...

Read more

Redirecting Your Direct Debits

personOtto Dargan access_timeAugust 24, 2011

The Gillard government has announced that they will introduce a new program that will allow customers to switch bank accounts without the need to change details of billing, salary, mortgage payments and deposit accounts. This is a great initiative as many people simply do...

Read more

St George Reduces Minimum Unit Size

personOtto Dargan access_timeJune 6, 2011

Today St George reviewed their minimum unit size to 35 m2 for properties in some locations in Melbourne. They will not accept properties in the postcodes 3141, 3181, 3182, 3183, 3121 and 3207 up to 80% LVR. LMI is not available for home loans secured by smaller units. Previously...

Read more