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Graham – Perth WA

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Hi Tony

Just a quick email to thank you and your team, especially Anna, for the work that was done to secure us a loan to improve our home.

I especially appreciate how professional and focused Anna was on getting the best deal for us as quickly as possible.

The service and transparency you deliver is why I don’t look elsewhere for my financial advice and services.

Awesome work!!

Many thanks

Graham
Perth WA

Graeme – Wollaroo SA

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To the First Choice Team

Just a big thank you message from me to you guys Tony, Jessica and Annette, can’t thank you guys enough for a smooth and easy to deal with process.

Thank you for helping get my life back on track, if I could personally shake all your hand’s I would – thank you, thank you, thank you – you will be highly recommended by me if anyone needs to go through the same situation.

Thankyou

Graeme
Wollaroo SA

Proudly a Finalist of the Better Business Awards 2019

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The finalists have been announced!

It is with great pleasure that we reveal we have been listed as one of the leading mortgage specialists as a finalist for in the Better Business Awards for 2019.

Category- Best Finance Broker- Tony Bice, Finance Made Easy

From the Adviser:

Acknowledging the brokers who are leading the charge – those with the most effective businesses, teams, marketing strategies and integrated offerings – the awards also honour the lenders and aggregator business development managers (BDMs) that are supporting brokers, too.

Now in its sixth consecutive year, the state-based Better Business Awards recognises and celebrates the best in the industry in their local markets.

The event provides a unique opportunity to celebrate the top-performing brokers in each state, those who may not always get recognition at a national level, while providing the finalists and winners with the opportunity to leverage local area marketing opportunities.

More than 600 finalists have been shortlisted for the awards, which will take place in Adelaide (14 February), Brisbane (21 February), Melbourne (18 February), Sydney (7 March) and Perth (14 March).

Annie Kane, Momentum Media’s editor of mortgages, said that the strength of the submission this year showed that “support and excellence is in no short supply in the mortgage and finance industry”, despite the last year having been a “trying one” for the sector.

 

The winners of the awards will be announced at the Better Business Awards dinners in February and March, following on from the Better Business Summit.

The award-winning Better Business Summit aims to provide brokers with straight-talking, practical advice to help them grow and improve their businesses.

The event has grown exponentially over the years to become the industry’s leading event and now welcomes more than 4,500 attendees every year.

If you are looking for a mortgage broker sydney, please call First Choice Mortgage Brokers on 1800 111 455

A Change for Interest-only Loans

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The Australian Prudential Regulation Authority (APRA) has announced the removal of the supervisory benchmark on interest-only residential mortgage lending banks.

The benchmark was a temporary response to concerns of a surplus of interest-only loans. As a result, the benchmark led to a reduction on the amount of new interest-only lending, which has now ducked below the 30% threshold.

The removal of the supervisory benchmark was announced by the APRA earlier this year, due to an increasing amount of authorised deposit-taking institutions (ADIs) assuring the strength of their lending standards.

ADI’s no longer subject to the investor loan growth benchmark will no longer be subject to the benchmark on interest-only lending starting 1 January 2019.

As for other ADIs, it will be removed coinciding the withdrawal of the investor loan growth benchmark.

APRA chairman Wayne Byres said, “APRA’s lending benchmarks on investor and interest-only lending were always intended to be temporary.

“Both have now served their purpose of moderating higher risk lending and supporting a gradual strengthening of lending standards across the industry over a number of years.”

The Australian Banking Association (ABA) is supportive of the APRA’s decision, proclaiming this move will increase choice for home loan customers and effectively improve competition across the industry.

CEO Anna Bligh has endorsed the APRA’s decision and has said it will not only benefit customers, but it has demonstrated banks that were lending prudently with the amount of interest-only loans more than halving in two years.

“APRA’s announcement shows that banks have adjusted lending to respond to concerns around an oversupply of interest-only loans, illustrating a prudential system where both banks and regulators can quickly and effectively respond to a changing environment,” she said.

“While banks will continue to lend prudently, today’s decision will mean all banks can offer more choice for customers who are looking to buy a house or apartment.

“Increased competition across the industry will mean customers have more ability to shop around for the best deal for them when looking at an interest-only home loan.”

The APRA figures representing bank home loan commitments has shown that the proportion of interest-only loans has decreased to 16.2%, which proves lower than the number two years ago (37%).

In 2015 interest-only new loans were at a record high of 45.6%, which shows the decline over the past few years.

With the removal of the interest-only benchmark, ADI’s are still required to maintain adequate oversight of the level and type of interest-only lending, and ensure it’s consistent with the APRA’s Prudential Practice Guide APG223 Residential Mortgage Lending and ASIC’s responsible lending obligations on borrower requirements and objectives.

If you are looking for a mortgage broker Sydney, please call First Choice Mortgage Brokers on 1800 111 455.

Annie – Taree NSW

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Hi Tony

I would like to personally thank you & your wonderful team at First Choice Mortgage Brokers for getting my loan refinanced to a sharper rate.

Your persistence & patience got me over the line.

I’m so grateful for everything you were able to do for me.

Life will be so much easier now.

Have a wonderful Christmas & enjoy the festive season with your families & friends.

Warmest regards

Annie
Taree NSW

Peter and Diane Maghazey – Earlwood NSW

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Dear Sharon

We have always wanted to express our gratitude for your time and assistance in helping us to obtain the loan for our next investment property.

It was a very trying time for all of us and although the stress was a little overwhelming at times, your professionalism and perseverance on our behalf was very much appreciated.

Many thanks and all the best for Christmas and the New Year.

Peter and Diane Maghazey
Earlwood NSW

 

Dear Anna

Although a little late, we would like to thank you for your help in assisting us with our new investment property.

We appreciate it was a trying time for all, but as always, we very much appreciate your professionalism and personal touch.

We wish you and the Team continued success.

Best Regards
Peter and Diane Maghazey
Earlwood NSW

Jeni Bitsanis – Hillside Vic

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To the team at First Choice Mortgage Brokers, thank you for the efficient settlement of the refinancing of my property.

Everyone that I dealt with was a pleasure, customer service, attention to detail and backup was second to none.

I really appreciate everyone ‘s efforts

Thank you

Jeni Bitsanis

Hillside Vic