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Both Insurance and Mortgage Brokers impacted by construction industry instability
The Adviser reports that the recent increase in company liquidations and instability in Australia’s construction industry has had a compounding effect on both Mortgage Brokers and Insurance Brokers. These professionals are now playing a greater role in educating and advising their clients who are impacted by the collapse of a building company. Read more here.
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Planned ANZ and Suncorp Merger Rejected
The Australian Competition and Consumer Commission (ACCC) has rejected the merger application for ANZ Banking Group to acquire Suncorp Group’s banking arm. The ACCC is concerned that the merger would reduce competition in the mortgage market and further entrench the quadropoly of the four major banks. Under the statutory test, the competition watchdog must be...
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Property and Mortgage Insights – FY2023 Reports
The Property Insights report published by Property Exchange Australia Ltd (PEXA) reveals that property settlements were down across Australia in FY23 (-18.6%) compared to the previous financial year, however there are signs the second half of the year will recover. Even though interest rates are continuing to change, houses are still very much sought after...
