The broker association has urged the Senate Standing Committee on Economics to ensure that brokers are able to write loans under the incoming Help to Buy scheme.
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More than 15 per cent of first home buyers have a loan-to-value ratio over 90 per cent and could find it difficult to refinance, according to Lendi Group data.
While the government’s ‘cost of living’ budget has been welcomed, members of the mortgage broking industry have suggested more could have been done to improve housing supply.
While Treasurer Dr Jim Chalmers can boast about the fastest return to surplus since World War II, those super members with big balances are going to have to duck for cover.