Mortgage Choice

WA home loan borrowers are increasingly using the equity in their homes to renovate or for investment purposes, according to data released by mortgage brokers Mortgage Choice Ltd today.

Competition in Western Australia’s mortgage broking market looks set to intensify this year as three of Australia’s most successful non-bank lenders prepare to open new branches across the state.

When Dave Urquhart set out in 2004 to buy a mortgage and finance broking franchise, his values and beliefs were set in stone.

The Bank of Queensland's aggressive push into Western Australia has highlighted a growing trend of franchising within the finance industry.

Listed accounting and financial services group Count Financial Ltd has taken a 4.9 per cent interest in Mortgage Choice Ltd after earlier discussions of a possible merger between both companies.

MORTGAGE brokers have taken a battering over the past two years so perhaps it's not surprising that the big franchise groups in this sector have focused on service to retain support.

WA financial services company AFG has grown over 20 years to become a major player in the national home loans market and aims to get bigger.

A surprise fall in home loan approvals in November shows the national housing market is starting to moderate and a rate cut should be on the cards early in 2015, according to the Real Estate Institute of Australia.

Home loan approvals for construction of new homes in Western Australia show the heat has come out of the market considerably, with the number of loans issued down 14 per cent on the same time last year.