PCL Blog

Private, Commercial, Development, Business and Property Finance

Can I make up for bad credit with a high income and down payment?

What’s more important for a mortgage? Income or credit score? It’s not uncommon to find a mortgage applicant with great income, but not a high credit score. Do applicants with high income and large down payments still need bad credit home loans? Mortgage underwriting is completed mainly by software The software evaluates income, credit and…
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The Value of Mortgage Broking,

The Value of Mortgage Broking, a report by Deloitte Access Economics has just been released. This report demonstrates the value that our industry brings to consumers, lenders and the Australian economy, by driving competition and delivering greater choice and valuable services to the Australians who need them most. The Value of Mortgage Broking report helps…
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SOUTH COAST HOUSING PRICES ON THE RISE

The Illawarra Mercury , 8/3/2018, reports that the South Coast housing market has defied Sydney’s falling trend in housing values. It quotes new data from Domain’s June Quarter 2018 House Price Report which indicates that house and unit prices on the South Coast are continuing to rise, despite predictions the market would drop. The reports…
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16 tips for property success

Ask successful people what they’d wished they’d been told when they were younger. That’s exactly what I did with these successful property professionals and here’s what they said. Kate Forbes – National Director Metropole Property Strategists Invest in yourself first Your best investment by far will always be in yourself as what you can achieve…
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8 Financial New Year’s Resolutions For 2018

The beginning of a new year is the most popular time to set goals and make plans, and everyone’s resolution list should include a few financial resolutions. Resolutions, like goals, are best when they’re specific. When you set a resolution or a goal, think of it as picking destinations on a road trip: If you…
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Real life ‘Mum and Dad’ customers we can help

This is Derek, a real life solo dad who achieved his goal with an alternative lending solution. Derek, father of two, was recently separated. It was an emotional time and he missed two mortgage repayments as finances took a bit of a back seat. When he got back on track he wanted to sort out…
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Key changes to pricing and offers in the last month in Australian consumer banking

Click here to see a summary of the key changes to pricing and offers in the last month in Australian consumer banking. https://pclmoney.com.au/bnk/bnk_feb.pdf Note that the deposit rates on offer continuing their downward trend Key changes: ANZ’s​ Progress Saver has had its ongoing bonus rate reduced by 10bp to 1.71%. Bankwest​ cut the base rate…
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More people are turning to finance brokers in the wake of the royal commission.

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has just concluded its hearings. One result of the Royal Commission has been that the reputation of some major banks and their brands have been severely tarnished in the eyes of the public. Evidence showing misleading conduct and charging for services which…
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The many moving parts influencing house prices

Before I dive into where housing is heading, the banking regulator’s analysis of CBA’s vulnerabilities was spot on. In 2010 I posited that while the four oligarchs’ much-lauded diversification into non-core businesses might smooth their return distributions during the good times, it lifted the probability of adverse fat-tail events of the kind NAB experienced in…
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The Reserve Bank has kept its hold of interest rates at 1.5 per cent

The RBA has decided to keep interest rates at record low for the 25th consecutive month. It stated that it is not concerned by rising home loan rates. “Some lenders have increased mortgage rates by small amounts, although the average mortgage rate paid is lower than a year ago” The ASX cash rate futures market…
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