Month: April 2018

Westpac shares crumble after poor lending practices conceded in internal documents

Westpac’s share price has nosedived after the release of explosive documents detailing widespread failings in not only the quality and riskiness of its home loans, but the way they are processed. Key points: Westpac shares tumble 4pc after APRA finds

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The untouchables: How the dodgy financial planners kept their jobs

Charging dead people fees, impersonating clients, falsifying signatures. It’s all apparently in a day’s work for unscrupulous members of the $4.6 billion financial planning industry. For the best part of the past week, the Hayne royal commission explored the misdeeds of advisers employed by

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Quick and easy equipment finance

Keeping your business equipment up-to-date is essential to ensure your business runs smoothly and PCL Money one of Australia’s leading Finance Brokers will take the hassle out of your equipment finance application – they understand how important it is to

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APRA relaxes investor property loan ‘speed limit’ as boards made more accountable

Despite conceding that risks in the property market remain “heightened”, the key bank regulator will remove the speed limit on investor lending. Key points: APRA is targeting the quality of home loan serviceability, ditching previous investor speed limits Bank boards

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FPA was preoccupied with protecting Sam Henderson’s reputation

The Financial Planning Association of Australia sought to keep the identity of a member facing disciplinary action, Sam Henderson, out of the banking royal commission to protect his reputation. The FPA claims to have strict codes of conduct and robust disciplinary

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APRA just relaxed lending quotas for Australian housing investors

APRA has announced it will remove the 10% annual cap on investor housing credit growth for some lenders. It expects ADIs to develop internal limits on lending at very high debt-to-income levels, and policy limits on maximum debt-to-income levels for

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Westpac shares slide after UBS flags lending risk concerns

Westpac shares have slumped in midday trade after UBS downgraded the stock this morning. Analysts Jonathon Mott and Rachel Bentvelzen ascribed a target valuation of $26.05 on Westpac (WBC) shares — down from this morning’s opening price of $29.18. Westpac

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How to quickly know how much house you can afford

Rules of thumb for home affordability There are several easy rough estimates for how much you can spend on a home. Choose a total payment that is close to what you spend now for rent Select your maximum home price

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What You Need to Know about Mortgages and Equity

Ah, springtime: when “for sale” signs start popping up with the daffodils and crocuses! Before you call your real estate agent, you might want to read up on some of the more technical aspects of homebuying—like exactly what homeownership can

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FACT SHEET: ROYAL COMMISSION

With the second round of the ROYAL COMMISSION INTO FINANCIAL SERVICES public hearings due to commence on 16th April, it is important to be mindful of the issues already raised. Much of the media reporting so far has been on

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