CCR was introduced in Australia in 2014. This is a shift from a negative reporting system to a positive reporting system. However, up until now it has not been mandatory for lenders to adhere to the CCR guidelines. That has NOW changed for the big 4 banks.

Property has long been considered a popular path to wealth creation for Australians. It has the potential to generate capital growth as well as rental income. There are also tax advantages associated with negative gearing. However, when buying an investment property, it is wise to remember that you are making a business decision and it’s worth taking the time to plan.

With multiple lenders and hundreds of ever changing mortgage products available, finding the home loan to suit your individual needs is not only a complex process it usually requires shopping around. This has resulted in more and more home buyers turning to mortgage brokers for expert assistance.

It's interesting that when our insurance renewals arrive many of us take the time to shop around and check we're still on a good deal, yet some of us are happy to sit on the same home loan for decades!

Now, in 2018, the focus of the regulator is the accuracy and verification of borrower income and spending information in support of loan applications.