This Week in Mortgage News

Centrelink reverse mortgage scheme is just for the wealthy
A little-known government reverse mortgage scheme trumps those offered by the private sector in many respects, but curiously, the government scheme is only available to better-off retirees.
Read more: http://www.theage.com.au/money/super-and-funds/centrelink-reverse-mortgage-scheme-is-just–for-the-wealthy-20141002-10p4tt.html

Home loan interest rates continue to fall on fixed and variable mortgages, but be ready for a rise
Savvy home loan customers who haven’t locked in their rates will be pleased they waited as more than 80 lenders have dropped their rates in the past month on nearly 100 fixed rate mortgages.
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Mortgage hit: Families move to the regions
It’s a dilemma faced by millions of Australian families. Do they hack long commutes to and from work and live in a home big enough for their toddler to run amok? Or should they try and stay in a tiny apartment just so parents can get home in time to see their kids?
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UK-style lending curbs ‘better’ for Aussie market
A leading property analyst believes macroprudential tools similar to those implemented in the UK are better for Australia than New Zealand’s LVR caps. RP Data senior research analyst Cameron Kusher said that while he believes the UK model is better than the New Zealand model, neither is bulletproof.
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First home buyers want new mortgage options: survey
Almost half of young Australians want superannuation or salary rules to change so they can enter the housing market.
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More accounting groups to enter mortgage space
More accounting firms will expand into mortgage broking following the recent announcement that Chan & Naylor will bring brokers under its brand. According to Outsource Financial chief executive Tanya Sale, accountants have stronger databases and stickier clients, making lending solutions a natural addition to their existing services.
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Consider applying for a home loan online
With the amount of items you can currently buy online, why shouldn’t you be able to take out a home loan online?
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Super or the mortgage
This was a recent question posed on my News Corp column, with the answer targeted at Gen Y. It’s a tricky one!
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