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Third party customers behind greater mortgage risk

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Miklos Bolza | 16 Mar 2017, 08:25 AM Agree 0
The behaviour of borrowers specifically choosing the broker channel has led to a greater sensitivity for future rate increases
  • Clarke Kent | 16 Mar 2017, 08:47 AM Agree 0
    Another absolute rubbish article with no evidence to support such speculative assumptions
  • Broker | 16 Mar 2017, 09:52 AM Agree 0
    Don't understand why this guy gets any airtime, consistency bags Brokers with unsubstantiated rubbish
  • Rob B | 16 Mar 2017, 10:23 AM Agree 0
    When will the media and commentators realise that Brokers actually do a better job in understanding a customer expense and income situation than Bank staff. A broker is required to have their client complete a proper expense budget and understand their flow of funds. In the majority of cases the customers expenses are higher than what the banks consider, as a Broker we are required by law to use the clients figures, this in most instances reduces the clients borrowing capacity or power. For goodness sake, give credit where credit is due and happy as a Broker to accept criticism when its warranted. Brokers do a much better role for their customers than Bank staff, I know I've been involved on both sides. Find real stories to write about.
  • SA Broker | 16 Mar 2017, 10:24 AM Agree 0
    "Perhaps....."
    "perhaps....."
    ...so in effect they get the results of a survey; and then totally guess what could have caused the result. Doesn't that make the survey as good as useless?
    This seems to be the trend for most modern surveys these days....unfortunately.
  • Who sponsored that report | 16 Mar 2017, 10:28 AM Agree 0
    Recently I had a newly self employed client want to release equity in his O/O property. His bank Westpac said no, multiple 1st tier banks said no all because as he had only been self employed for 10 months. But the local BOM manager said yes and pushed it through her credit team! Not the first time a bank has said NO through the broker channel only for the the same bank via a banker say YES. Greatest risk to mortgages are the sales targets and incentives set by banks on its own staff - Bank staff are told no sales no job, more sales bigger bonuses!
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