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A fall in mortgage demand has reversed the positive growth recorded in the December 2023 quarter, Equifax has reported. Equifax's Quarterly Consumer Credit Insights – March 2024 report has shown mortgage demand declined 4.5 percent during the first quarter of this year, drawing back the 0.5 percent growth recorded in the previous quarter. The December quarter's lift in mortgage demand marked the first quarter of positive growth since 2021 as the stabilization of interest rates had a positive impact on mortgages. Auto loan demand increased 4.7 percent during the March quarter of 2024 when compared to the same quarter of 2023, while secured credit demand (derived from both mortgages and auto loans) fell 2.8 percent in the March quarter of 2023.

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"Does the lender really need all this information?" Short answer is Yes! (We aren't asking for all of it because we like paperwork!) Responsible lending obligations were first introduced in 2011. There were 3 main requirements which broadly covered the key concept that lenders must not enter into a loan if its unsuitable for the client. The 3 areas addressed were Inquiries: Lenders must make reasonable inquiries about a consumer's financial situation, requirements, and objectives. Verification: They should take reasonable steps to verify a consumer's financial situation. Assessment: If providing credit assistance, lenders make a preliminary assessment; if they are the credit provider, they make a final assessment to determine if the credit contract is "not unsuitable" for the consumer. Updates to these obligations have been made & the Royal Commission made recommendations which have been embraced by Brokers and Banks. This all forms a larger need to get more information.

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When and how you can access your super to start an account-based pension. If our working years can be regarded as the time when we aim to build up our superannuation savings, our retirement years can equally be regarded as the time when we aim to spend them. At least that's the objective for most Australians. Which generally leads to the question: how do I start accessing my super funds when I do stop working, or maybe even before I stop working?

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The median price of a residential block of land has hit new records due to shortages on land, the HIA has found. According to the HIA-CoreLogic Residential Land Report, the national median price of a residential block of land has hit $340,000 as of the September quarter 2023, reaching a new record high. Housing Industry Association (HIA) senior economist Tom Devitt has said this figure represents a new record high, increasing by "more than a quarter compared to before the pandemic". Mr Devitt stated that shortages of "shovel-ready land" resulted in price surges for lots during the COVID-19 pandemic, while the volume of lots being sold has "plummeted to 20-year lows".

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BOQ have some great niches with how they look at servicing home loan debts. Some examples include:-

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