Champion Mortgage Brokers-Brisbane Mortgage Brokers

21/11/2023

Did you know that you can get into your first home with as little as 5% deposit and no genuine savings. We are Brisbane's first home buyer's specialist. Call us on 07 3211 8888 to find out more.

18/05/2023

What the RBA overhaul means for interest rates
The Reserve Bank of Australia (RBA) is facing a major overhaul following an independent review.
What does it mean for interest rates and for Australian mortgage holders? We dive into all your questions in this article.

Why was there a review?
Treasurer Jim Chalmers announced the review in July 2022 – the first review of the RBA since the central bank started to target inflation in the early 1990s.

“The Review is all about ensuring Australia’s central bank and monetary policy arrangements are as strong and effective as they can be into the future,” Treasurer Jim Chalmers said.

The final report, ‘An RBA fit for the Future’, was released on April 20, 2023. It looked at the RBA’s performance over the past three decades.

What were the key recommendations?
The review made a lot of recommendations – 51 to be precise. The gist was for decisions about the cash rate to be made with broad input, and the reasons for any changes to be much clearer to the public.

Some of the key recommendations included:

The RBA should have a ‘monetary policy board’ with greater economic expertise and shift to eight meetings a year (instead of 11) to allow more time to consider issues.
There should be a press conference after each meeting to encourage more transparency, and board members should speak publicly about the board’s work.
Two separate boards should be established – one for monetary policy, the other for governance of the RBA.
The inflation target of two to three per cent should be retained.
There should be five-yearly reviews of the RBA’s monetary policy framework and policy tools.
So, what’s next?
The government is expected to legislate changes relating to the review from next year. Mr Chalmers has indicated he is hopeful the changes to the RBA could take effect by July 2024.

Meanwhile, RBA Governor Philip Lowe welcomed the recommendations. “The board will consider these issues over coming meetings and develop and implement a new set of arrangements,” he said.

What about the impact on interest rates?
As mentioned, the RBA currently meets 11 times a year on the first Tuesday of the month (except in January) and the board makes a decision about the cash rate. After the decision, lenders decide whether to adjust their interest rates.

If the recommendations of the review go ahead, the monetary policy board will meet 8 times a year. There will be more time between meetings for the board to weigh up the latest economic indicators before making a decision.

In other words, homeowners won’t get back-to-back rate hikes (or pauses or cuts) every month.

And with fewer cash rate changes, there will be more time for households to adsorb and adapt to any cash rate hikes.

On the flip side, with fewer meetings, it may also be necessary to make larger changes to the cash rate (which has been the case with the US Federal Reserve and the Reserve Bank of New Zealand).

Like to know more?
We’d be happy to answer any other questions you might have about the RBA overhaul and what it means for you. Please get in touch and let’s chat.

15/06/2021

Enjoy the great outdoors again,
The last year has seen many Australians restricted to their homes and not able to enjoy the great outdoor Aussie lifestyle we are all used to. With restrictions having eased and EOFY sales just around the corner, now could be the perfect time to purchase that new jet ski, caravan or other lifestyle product to make the most of what our beautiful country has to offer.
With so many end of financial year bargains and stock clearances at this time of year, let’s get your financial solution sorted early so that you are prepared when the sale season starts.
I will take the time to assess your financial situation to make sure we find the right finance product to suit your needs. Get in touch today!

11/05/2021

Budget 2021-2022, Home Ownership:
As announced ahead of the full budget release, the government will introduce a new Family Home Guarantee that aims to give 10,000 single parents with dependants the opportunity to build a new home or purchase an existing home with a deposit of 2 per cent without having to pay lender’s mortgage insurance (LMI).

Starting on 1 July 2021, the new guarantee aims to support divorced or separated parents with dependent children by enabling them to purchase a home sooner with a deposit of as little as 2 per cent. The government will guarantee up to a maximum of 18 per cent of the property purchase price, allowing the applicant to get a loan without paying lender’s mortgage insurance. Call 07 3532 4024 to find out more

04/04/2021

Exclusive Home Loans. Find Out More By Calling 07 3532 4024

When you choose one of our exclusive loans you can’t get from the banks, I will provide the after-care service. That’s right, no queue at the bank or waiting on the phone to ask a question and no telemarketers ringing you up trying to cross sell and upsell you. You won’t miss out on a thing. A...

22/03/2021

Its two year fixed rate has dropped below two percent but its four year rate has risen

21/03/2021

Looking to refinance, let us help you! If you’re considering a home loan refinance, let us help you decide if it’s the right move for you. There are many reasons why you might like to refinance your loan - and the pros and cons may vary according to your situation. I can explain all the details ...

11/03/2021

Move is part of a global restructuring

18/02/2021

Three Steps To A Pre Approval;
​​ #1 Collect your documents
Proof of identity
Proof of income and savings
Proof of living expenses and other expenditure
Evidence of current assets and liabilities.
#2 Talk with your mortgage broker to find out
How much can you borrow
How much you require for a deposit
How much you can repay each month
If you qualify for a government grant or concession.
#3 Submit pre-approval application with a lender
We fill out the forms and do all the work
The lender provides confirmation in writing
Pre-approval lasts for 3-6 months.
How long does a Pre Approval take.
Turn-around times for pre-approvals vary for each lender from the time of application submission. Verify with your broker the expected time frame for your preferred lender. Providing us with the correct documentation up-front will help achieve a speedy turnaround.