The Royal Commission has handed down its recommendations last week and we agree with all recommendations, except one. We wholeheartedly support increasing the barriers of entry to the mortgage broking profession. We particularly agree with the 'Best Interests' duty - requiring mortgage brokers to act within the best interests of their clients (and we're surprised it's taken so long!). What we disagree with, is the recommendation for consumers to pay a fee-for-service to obtain a mortgage. Importantly, this proposed fee will mean that consumers will pay thousands for obtaining a mortgage, regardless of whether they engage a broker or go direct to the bank. David Johnston, Founder and Managing Director of Property Planning Australia, shares his insights on the unintended consequences a fee-for-service will have on consumers.
Banks are upping the ante with their debit card offerings as savvy customers are choosing to use their debit cards over their credit cards as part of creating great habits with their Money Management System. Having a strong money management system in place is critical to meeting your financial and lifestyle goals and a debit card might just be the difference between success and failure!
Fractional Property Investment provides a platform to property investors to get into the market where they are not able to purchase a property outright. Founder and Managing Director of Property Planning Australia, David Johnston, discusses the critical factors to consider before you jump on the fractional property investment train for Christine Long’s in depth article on [...]
Many prospective purchasers are concerned about stretching the budget too thin when buying a home. And if you’re stretched now, what if rates rise? What if you add a child to the mix? David Johnston, Founder and Managing Director of Property Planning Australia provides some insight regarding managing cash flow and your price point for Daniel Butkovich, the Advice editor for Domain.
Congratulations to our wonderful team at Property Planning Australia! The team has been selected as finalists in the annual Mortgage & Finance Association of Australia (MFAA) Excellence Awards in the following three categories for the third year in a row - ‘Customer Service Award’ ‘Diversified Business Award’ ‘Finance Broker Business Award’ Our team put great [...]
Parents can be a great resource for advice, sometimes whether you ask for it or not. But should first time buyers be listening to parents when it comes to property planning and mortgage strategy? We have contributed some thoughts to this piece by Daniel Butkovich, Advice Editor for Domain.
The Australian bureau of statistics (ABS) has decided to include SMSF debt, alongside all other personal and investment debt, when calculating the national ‘debt to income ratio’. This inclusion of SMSF debt pushes Australia to 200% - a milestone number and one of the highest ratio's in the world! In simple terms, this means that [...]
Our Managing Director, David Johnston, has featured on the latest podcast from The Mentor List. The Mentor List is a leading business and personal development podcast, interviewing the top business minds of Australia where you can gather sound advice for your career and life. David shares his insights on how you can be making better property decisions to create your ideal lifestyle.
Over the past 12 months the property and lending landscape has undergone unprecedented levels of change, largely due to regulatory pressure from APRA. For insights into the impact on borrowers from the increased regulation, read the article by Founder and Managing Director of Property Planning Australia, David Johnston, which was published in Property Investment Professionals [...]
We have all heard the saying ‘the straw that broke the camel’s back’. The early evidence would suggest that the straws are piling up on the Australian property market, which is finally responding and showing early signs of slowing down. At the moment, a few creaks and cracks are visible from early statistics supporting the [...]