Loan Market Finance News

Do you feel that you may never pay off your current home loan? Sunshine Coast mortgage broker Carol King has five quick tips on reducing the size of your mortgage. The faster you can pay it off the sooner you will have more funds available to improve your lifestyle or save for that well-earned retirement. Offset Account:If you keep your everyday savings or transactional account linked to your home loan, the interest on your home loan will be calculated less the money in the account at the end of every day, which could save you thousands of dollars ... read more...

Leading mortgage broker Loan Market has appointed Ed Thian to the new role of General Manager Marketing. Mr Thian joins Loan Market from Aussie where he was Senior Manager Consumer Fiance with P&L responsibility for the successful Aussie credit card and personal lending businesses . Loan Market’s National Director of Sales,Mark De Martino, said Mr Thian is a significant acquisition for the company due to his extensive knowledge in the devising and the implementing of marketing and business growth strategies. “We are delighted to have Ed take on this key position in our company,” Mr De Martino said. “Ed has an enviable reputation ... read more...

Leading Australian mortgage broker Loan Market has appointed Michael Karpathakis to role of New South Wales State Manager.  Michael joins the Loan Market Group, after holding the position of National Manager, Strategic Partnerships in Westpac's Mortgage Broker distribution business, since January 2008. Loan Market's National Director of Sales,Mark De Martino, said Mr Karpathakis was an outstanding recruit for the company due to his extensive mortgage industry experience. "We are delighted to have Michael take on this key position in New South Wales -Australia's largest marketplace” Mr De Martino said. “Michael is a key industry player who has recently worked in the banking sector and ... read more...

The first quarter of 2012 has seen a welcome improvement in the number of home loan approvals nationwide with the recent reduction in interest rates set to further boost the sector, says leading mortgage broker Loan Market. Loan Market corporate spokesperson Paul Smith said the latest Australian Bureau of Statistics (ABS) figures for March, 2012, show a modest 0.34 per cent rise in the number of home loan approvals from February, 2012. But Mr Smith said the national results for the March quarter 2012 were 10 per cent up on the corresponding quarter in 2011 with all states and territories on ... read more...

Most home loan customers are planning to use the latest reduction in interest rates to increase their mortgage repayments, a national survey has found. The Loan Market poll which asked “How will you take advantage of the May interest rate reduction?’ found 57 per cent said they would be using the extra money to boost their home loan repayments. Loan Market Corporate Spokesman Paul Smith said 21 per cent of the 856 online poll respondents said they would increase savings while 20 per cent said they would be looking to refinance. Mr Smith said only two per cent of those surveyed ... read more...

The major banks are unlikely to pass on the whole cut in official interest rates by the Reserve Bank of Australia (RBA) but should provide a significant cut, according to a survey by leading mortgage broker Loan Market Loan Market Corporate Spokesman Paul Smith said a survey of the company’s mortgage brokers found just eight per cent believed lenders would match the RBA’s 50 basis point reduction in the cash rate. Mr Smith said most of the 231 respondents thought banks would pass on a portion of the RBA’s reduction. He said 51 per cent of brokers said rates could be decreased ... read more...

Struggling sectors of the economy and home owners battling cost of living increases will be satisfied the Reserve Bank of Australia (RBA) has finally offered some interest rate relief, says leading mortgage broker Loan Market. Loan Market Corporate Spokesman said the RBA lowering its cash rate by half a percentage point to 3.75 per cent was a tremendous result for consumers. But he said the key now was how the banks respond given their recent track record of raising their variable rates independently of the RBA or only passing on part of a rate cut. “Home owners have finally had a win and ... read more...

Most home loan customers are counting on the Reserve Bank of Australia (RBA) to lower official interest rates tomorrow at its May monthly meeting, a survey has found. The Loan Market poll which asked “What action do you expect the RBA to take at its next meeting in May?’ found 88 per cent believed there would be a rate cut. Loan Market corporate spokesman Paul Smith said 65 per cent of the 974 online poll respondents expect a quarter percentage point reduction while 23 per cent thought there could be a 50 basis points cut. He said 12 per cent of ... read more...

Demand for fixed rate home loans has been surging despite the prospect of official interest rate relief from the Reserve Bank of Australia (RBA), says leading mortgage broker Loan Market. Loan Market Corporate Spokesman Paul Smith said the company had experienced a significant rise in demand for fixed rate loans over the past month as a result of the RBA staying on the sidelines and lenders lifting their variable rates independently. “Loan Market has seen demand for fixed rates increase by 15 per cent in the past month in a clear sign that consumers are mindful the banks may keep raising ... read more...

Most Australian mortgage holders are traditionally reluctant to consider shopping around for an alternative home loan as they need convincing they can achieve sufficient annual savings, says leading mortgage broker Loan Market. A national survey by Loan Market found 41 per cent of the 763 respondents said they would want to obtain savings of between $2,000 and $5,000 to consider refinancing. Loan Market Corporate Spokesman Paul Smith said 27 per cent of respondents said they would need to save over $5,000 a year to be motivated to refinance with another lender. Mr Smith said the survey found only four per cent ... read more...