Mortgage Business 26 April 2021
Two lenders have announced extensions on their cashback offers for purchases and refinances on home loan applications.
Major bank ANZ has announced that it has extended its current up to $3,000 switching cashback discretion to 30 July 2021.
ANZ also stated that eligible loans must now be drawn down by 31 October 2021. This has been extended from the previous deadline of 30 June 2021.
It noted that the cashback offer is not a new campaign. Rather, it said that it is extending the application end date and loan drawdown date for the current switching cashback discretion period, and added that the other eligibility criteria continue to apply.
Industry should demand ‘meaningful action’ on turnarounds
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There is “no justification” for the delays in processing broker-lodged loans, the compliance manager of MoneyQuest has said, urging industry heads to be “more vocal and even militant in demanding meaningful action”.
Last week, the heads of the major banks acknowledged that while direct channel loans could take less than two days to approve, loans from the broker channel were markedly higher.
Recent stats from the Australian Finance Group (AFG) Index for April 2021 revealed that lender turnaround times surged to 27.1 days in the third quarter of the 2021 financial year (3QFY21) from 25.2 days in 2QFY21, while Momentum Intelligence’s monthly Broker Pulse survey has also shown blowouts in lender turnaround times.
Turnaround times spike to 3-year high: AFG
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An increase in market lending activity and a competitive lending market have seen lender turnaround times spike to over 27 days in 3QFY21, AFG said.
The Australian Finance Group (AFG) Index for April 2021 revealed that lender turnaround times surged to 27.1 days in the third quarter of the 2021 financial year (3QFY21) from 25.2 days in 2QFY21.
According to the aggregator CEO, David Bailey, “This is the highest [turnaround times] have been at any point over the last three years.”
AFG’s figures have followed the reporting of turnaround times by the major banks at Parliamentary hearings last week, with the Commonwealth Bank of Australia (CBA), Westpac, National Australia Bank (NAB) and ANZ acknowledging turnaround time disparity between the direct lender channel and the broker channel.
2 great ASX dividend shares rated as buys by brokers
Tristan Harrison | April 16, 2021 7:20am |
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There are a few compelling ASX dividend shares that have bene rated as buys by brokers.
Brokers are constantly on the lookout for opportunities and there are a few dividend shares with high yields that have been picked as buys.
These two businesses are two of the most-liked ASX dividend shares right now:
Dalrymple Bay Infrastructure, which owns the Dalrymple Bay Terminal, provides its customers with safe and efficient port infrastructure and services. It owns the world’s largest metallurgical coal export facility and it serves as a global gateway from the Bowen Basin and it’s an important link for the global steelmaking supply chain.
Brokers rate these 2 top ASX shares as buys
Tristan Harrison | April 7, 2021 8:50am |
More on: Image source: Getty Images
Brokers are always keeping their eyes on what ASX shares look like they could be good value and worth pouncing on.
Share prices change every day and the value on offer is steadily shifting. Hopefully investors can jump on opportunities that look good.
The below businesses are ideas that appear to have good long-term potential whilst also looking like they’re trading at attractive value today:
Australian Finance Group is the biggest mortgage broking business in Australia. It’s currently rated as a buy by at least three brokers.