Keep up with the latest news and updates
July 25, 2017
The Australian Securities & Investments Commission (ASIC) recently released an infographic to explain the regulator’s review of the mortgage broking market and understand the effect of current remuneration structures on the quality of consumer outcomes. The review reveals that mortgage brokers are paid an average of 0.54% or $2,700 for a $500K home loan. It
July 20, 2017
St George has announced it is dropping mortgage and equity-release products after Westpac made a high-level review of their product range and underwriting standards. The review is set to reexamine loans and lending packages under current market conditions. Consequently the St George Reverse Mortgage product has been removed from sale. The review came at a
June 20, 2017
When the Commonwealth government introduced the age pension in 1909, the average male life expectancy was 55. Not many Australians reached the age eligibility of 65 for the entitlement. With significant strides in healthcare, men and women today are expected to live well into their 80s, which has cost the government around $ 41 billion
May 30, 2017
Reverse Mortgages have been available in Australia since the 1990s, but it is only in the recent years that these are becoming popular as a viable financial product for homeowners. Even though reverse mortgages, also known as home equity loan, has drew some flak from the media because of inherent drawbacks, public demand has been
April 30, 2017
How Reverse Mortgages Help the Australian Economy The Australian government is now implementing long-term precautionary measures to respond to the rising cost of aged care. Based on the Intergenerational Report released by the Commonwealth of Australia in 2015, the $42 billion that the government pays for pensions is projected to grow to $160 billion by
February 23, 2017
Changes to the age pension starting this year affected hundreds of thousands of senior Australians. Because of the changes, you should be 65 years or older to be qualified to receive pension. Starting July 1, 2017, the required aged for retirees who can receive pension will be 65 years and 6 months. On top of
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