Category Archives: Articles

Starting a new practice-Your Build Team is here.

Establishing a new practice or re-invigorating an existing one can be a daunting task.  Here are some useful perspectives. There are so many decisions to make, not only around equipment and the presentation of the practice, but also timescales to plan. Then there are all of the equipment suppliers and contractors and trades to instruct, […]

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Why it makes sense to spread your debt.

It’s more important than ever not to keep all your eggs in one basket. These days whilst spending extended time “on hold” when calling the bank might be inconvenient and annoying, there is a more insidious potential consequence of having everything with the one lender. Let’s say that Dr A. has a home mortgage with BANK […]

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3 Key considerations with 100% Practice Property loans*

OWNING your Practice Premises is a cornerstone of your professional and financial future. Not only is it a familiar place that all of your patients know, it also gives a certainty of tenure to you as well as an anchor to the community. Here are 3 insights you’ll find useful.   1. Setting the right […]

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Why savvy clients use a Broker… the same reason they don’t cut their own hair.

I was involved in an event called National Finance Brokers Day, which made me stop and think. In the midst of APRA regulation, historical low rates, more home loan products available than ever before and the real estate market a perpetual topic of conversation for all Australians, I thought I’d highlight the role of the […]

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NAB Rolls out Comprehensive Credit Reporting

NAB has become the first major bank to begin utilising comprehensive credit reporting (CCR), rolling out the new system for personal loans, credit cards and overdrafts. The draft legislation for mandatory comprehensive credit reporting — which aims to address the “information asymmetry” that currently gives consumers more access to their credit risk than the credit […]

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Banks increase Credit assessment scrutiny in the wake of Regulatory changes.

ANZ and Westpac Group are said to have introduced confidential changes to their assessment and approval of borrowers. The Australian Financial Review reported yesterday (15 February) that ANZ was clipping the discretion of its frontline mortgage assessors. A spokesman for ANZ said the bank recently added “a higher level of approval for some discretion” used […]

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82% of Aussies unaware of their mortgage rate

An overwhelming majority of borrowers do not know their home loan rate, with 86 per cent of Australians also unaware of their monthly expenses, a new study has revealed. The Know Your Number Index, commissioned by digital bank UBank, examined Australians’ knowledge of their household and entertainment expenses. The study was conducted on an online […]

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Honeymoon Home Loan Rates – a warning.

Comparison site Mozo has warned borrowers against taking out seemingly generous honeymoon rate deals that can end up costing them tens of thousands of dollars in extra interest. Some lenders are marketing honeymoon loans as a solution for first home buyers who are looking to enter an increasingly unaffordable property market. But these loans might […]

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Banks tighten credit assessment policies

NAB has made a change to its home lending policy amid concerns over the rising household debt to income ratio and as APRA zeroes in on loan serviceability. From Friday, 16 February, the loan to income ratio used in its home lending credit assessment has been changed from 8 to 7. “Regulatory bodies have raised […]

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