2013 was a year of ups and downs for the Australian mortgage market. We take a look at some of the issues that got brokers talking.
The ATO and ‘scheme promoters’
Following revelations from lawyer Mark Halsey that many brokers may be unknowingly putting themselves at risk of being labelled ‘scheme promoters’ by the ATO,
Australian Broker sought clarification from the tax office on some commonly misunderstood laws. Read the full story
here.
John Symonds and Gadens
Aussie Home Loans founder, John Symond, won a multimillion-dollar court case against Gadens law firm over an $11m tax bill. Read the full story
here.
Valuers vs brokers
The valuations debate was a recurring issue in 2013. Following accusations from one Perth broker that valuers were consistently undervaluing properties, a flood of similar stories came through. Australian Broker looked into the issue, searching for underlying problems and ways to solve the communication gulf. Read the original story
here.
Shore Financial’s big start
The stunning entrance of Shore Financial into the broking market got brokers’ attention when the group lodged over $60m in home loans in just one month – barely six months after opening its doors. Read the full story
here.
Bank of Queensland’s takes on brokers
Brokers got excited when the Bank of Queensland (BoQ) announced it was looking to expand its broker network - while simultaneously closing branches - in an effort to reach a broader range of customers. Read the full story
here.
Mortgage Choice’s run in with ASIC
Mortgage Choice was forced by ASIC to more than $30,000 in penalties for false advertising in late November. Read the full story
here.
