<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

National Australia Bank (NAB) has brought forward the timing of the first RBA cash rate cut by three months.

NAB is now expecting a cut in February, in line with ANZ and Westpac, having initially thought a cut wouldn't come until May.

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB changed its call following the August monthly inflation figures that were released at the end of September, showing it had dropped to 2.7 per cent.

"The risk has been skewed to a first cut earlier in 2025, and today’s change acknowledges the balance of risks has likely shifted sufficiently for the RBA to feel comfortable cutting a little sooner than we earlier expected," NAB noted in its latest update.

They added that the cadence of the cuts may be faster than its central profile.

"Domestic inflation pressures are cooling, but only gradually, and we continue to expect the conditions for a cut will not be in place this year.

NAB believes the easing cycle will end at 3.1 per cent by early 2026, which is five cuts from the current 4.35 per cent cash rate.&nbsp;

CBA also thinks 3.1 per cent will mark the end of the cutting cycle, while Westpac is forecasting 3.35 per cent, and ANZ is the most pessimistic at 3.6 per cent, which would be just three interest rate cuts.

<h2>What would a rate cut in February look like for borrowers?</h2>

According to&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2vK2ujS77CHs9VRvSSXzLC" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG" target="_blank">Canstar</a>, if there is a cut in February, a borrower with a $600,000 loan today and 25 years remaining would see their monthly repayments drop by $92.&nbsp;

<table border="1" cellpadding="0" cellspacing="0">
	<tbody>
		<tr>
			<td colspan="3">
			Impact of 0.25% pt cut in February 2025
			</td>
		</tr>
		<tr>
			<td>
			Current loan size
			</td>
			<td>
			Drop in monthly repayment
			</td>
			<td>
			New monthly repayment
			</td>
		</tr>
		<tr>
			<td>
			$600,000
			</td>
			<td>
			-$92
			</td>
			<td>
			$3,907
			</td>
		</tr>
		<tr>
			<td>
			$750,000
			</td>
			<td>
			-$114
			</td>
			<td>
			$4,884
			</td>
		</tr>
		<tr>
			<td>
			$1M
			</td>
			<td>
			-$153
			</td>
			<td>
			$6,512
			</td>
		</tr>
		<tr>
			<td colspan="3">
			Source:&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2qVnp6oqATgqDUi2Frm22q" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL" target="_blank">www.canstar.com.au</a>. Starting rate is the RBA existing average owner-occupier variable rate of 6.36%. Assumes banks pass the cash rate cut on in full the month after the meeting.
			</td>
		</tr>
	</tbody>
</table>

Canstar Data Insights Director, Sally Tindall, says if core inflation continues to track in the right direction, or unemployment starts to accelerate significantly, we could well see a cash rate cut as early as February of next year.

“All four big banks now believe the RBA will be ready to cut the cash rate in just over four months’ time, if not before, in the case of CBA.

“However, the outlook for both inflation and unemployment is still highly uncertain. A couple of wobbly sets of inflation data could see the RBA holding for longer, particularly if unemployment remains relatively steady."

&nbsp;

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB bring forward first RBA cut to February 2025

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Western Sydney, parts of the New South Wales coast, south-east Queensland and parts of Melbourne are the areas of highest mortgage vulnerability and also where a “higher-than-average share of borrowers are experiencing some degree of financial stress,” says the RBA in its September Financial Stability Review.
It also warns of a rise in arrears in Melbourne due to an oversupply of inner-city apartments.
“According to the 2011 census, the geographic regions that had the highest incidence of potential mortgage vulnerability, as measured by the share of households that had high debt- servicing ratios (DSRs) and were in the lowest 40 per cent of the income distribution, were western Sydney, parts of the New South Wales coast, south-east Queensland and parts of Melbourne,” notes the RBA.
<img src="/images/stories/2012/09/rbasept25.gif">
The RBA says that arrears on securitised loans suggest that some of the same regions have a “higher-than-average share of borrowers experiencing some degree of financial stress, although even in these regions, arrears rates have generally declined over the past year “
“They include parts of Sydney’s western suburbs, where arrears rates have been high for some time, as well as regions that rely on tourism, a sector that has been under pressure more recently from the high exchange rate.
“This second group of regions includes areas of Queensland, particularly around the Gold Coast and Sunshine Coast, and some coastal areas of New South Wales and Western Australia.
“Many of the loans in arrears in these regions were originated in the few years leading up to the crisis, when housing prices in these areas were still growing quickly and construction was relatively strong."
The report also warns that arrears rates on housing loans in Victoria, which are currently “quite low” could rise, due to a “potential oversupply of property in some segments, particularly inner-city Melbourne apartments and houses at the south-eastern fringe”.
“Overall, the Melbourne residential property market has been experiencing below-average auction clearance rates and a run-up in the stock of land for sale at the same time as actual sales fell; these factors could weigh on prices in the future.”
However, the report also notes that the risk profile of new housing loans has been lower in recent years compared with the earlier period of strong growth in household borrowing.
“Lending standards are tighter now than prior to the financial crisis, and liaison with the major banks indicates that they have been broadly unchanged over the past six months.
“The share of bank lending that is low-doc remains low, at less than 2% of banks’ loan approvals and around 5% of outstanding housing credit."
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lschlesinger-FZcF9M3vE6

South-west Sydney mortgage borrowers lead RBA's 15 most vulnerable localities

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Westpac subsidiary St George Bank has cut its three-year fixed home loan rate by 10 basis points to 5.49% per annum following last week’s cut to its fixed rates for one and two-year home loans.
The new three-year fixed home loan rate is available under its St George's Advantage Package offering and is effective from today.
St George offers its one- and two-year fixed rates at 5.49% per annum and offers a rate of 5.89% per annum for four- and five-year fixed home loans under the Advantage Package.
The bank now offers the lowest fixed rates in the market, when compared with the big four banks for fixed home loans from one to five years' duration.
<a href="/news">Yesterday Westpac announced cuts to its fixed-rate home loan offerings</a> under its Premier Advantage Package, with its three-year fixed loan reducing 0.1 percentage points to 5.54%.
 
<ul style="font-size: 14.545454025268555px;"></ul>
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St George Bank cuts three-year fixed-rate mortgage to 5.49% per annum

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The Reserve Bank has no choice but to join the currency debasement contest that’s now going on around the world, and to cut rates by another 1 percentage point in the coming 12 months – including 0.5 percentage points by the end of the year.
The Australian dollar is in a 'no lose' situation: when Western central banks launch asset buying programs, as the central banks of the US, Europe, UK and Japan have all done lately, the 'risk on' environment sees the Aussie rise as a result of fund buying; but Australia’s AAA status and relatively high yield makes it a preferred safe haven as well, especially for other central banks.
Last week the RBA published a list of 16 global central banks that have been buying Australian dollars as part of their diversification strategy, including Russia, Brazil, Korea and Switzerland. On Thursday the Philippines was added to the list.
The result is that as the Chinese economy slows, commodity prices fall and with them Australia’s terms of trade, while the exchange rate has remained stubbornly above 104 US cents.
In other words, the dollar’s unique status as risk asset for hedge funds and safe haven for central banks means that it is no longer doing its usual job of buffering the Australian economy from an Asian or global downturn, as it did in 2001 and 2008.
This morning it is trading at 104.5 US cents, having slipped from its post-third-quarter high of 106.26.
What to do? Well, in March, when the dollar touched 108, the RBA started to sell more dollars than usual and talked the currency down.
Then on May 1, with the dollar still above 104, it shocked the market with a bigger than expected cut of 50 basis points and followed up with another 25 points in June. The dollar instantly fell to 103.3 on May 1 and then kept falling, bottoming at just below 97 US cents a month later before climbing to 106 in August on the back of speculation about European and US quantitative easing programs.
Since then the risk-on trade, the interest differential and central bank diversification has kept it above 104.
 
<hr class="system-pagebreak">
 
The RBA must cut again in October, and possibly by another 50 basis points to shock the markets once more. It also needs to do a bit more Australian dollar selling than usual, although not enough to trigger suggestions that it’s 'intervening' in the currency (can’t have that!).
Certainly the cash rate needs to be significantly lower than it is now by this time next year.
In essence it seems that the world’s central banks are working hard to debase their currencies as an alternative to a trade war. That may not be the primary intention of their quantitative easing and zero interest rate strategies, but it’s definitely an intended consequence.
The US, Europe, UK and Japan are all desperately keen to prop up, and if possible grow, net exports because of weak domestic employment. Some central banks are intervening directly in their currencies, others are settling for printing money to reduce its value.
For years now, the RBA has been talking about the inevitable “painful structural adjustment” as a result of the high terms of trade and currency.
But what if the terms of trade go back down and the currency doesn’t?
The fact that hedge funds and other central banks like the Aussie anyway should not be allowed to continue the painful structural adjustment for Australia’s export industries even as their export prices and volumes fall as well.
The result would not be structural adjustment, but disaster.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
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akohler-TyLfJGrMb8

The RBA must cut the cash rate by 100 basis points by next year

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The federal government’s Australian Office of Financial Management (AOFM) has defended itself against claims that it bought fraudulent, high-risk low-doc loans with taxpayers’ money.
Since November 2008 the AOFM has invested in residential mortgage-backed securities worth $11 billion under a government program to maintain competition in mortgage lending.
The program was set up in the wake of the GFC, when non-bank lenders and other smaller lenders could no longer sell their packages of home loans to offshore investors – a process known as securitisation.
The claims against the AOFM were levelled as part of submissions made to the Senate Inquiry into the post-GFC banking sector, where public hearings resuming on Friday in Canberra.
Giving testimony to the inquiry on Friday, AOFM chief executive Rob Nicholl said there were “no 'sub-prime' loans amongst the mortgages underpinning the RMBS in which the AOFM has invested”.
Nicholl said the AOFM had taken a conservative approach to mortgage investments and had only participated in one transaction where the share of low-doc loans was greater than 10% of the underlying pool of mortgages.
In this case, the AOFM only invested $10 million, “of which over half has been repaid without incident”.
In total, Nicholl says low-doc loans account for less than 2% of all the loans it has invested in through the government scheme, with lenders required to insure themselves against the risk of borrowers defaulting.
In a worse-case scenario, only 0.5% of the AOFM’s investments would be at risk, Nicholl says.
The AOFM’s $11 billion worth of mortgage investments are part of a total pool of mortgages worth $25 billion (the AOFM acted as cornerstone investor) – of  which $400 million are sub-prime loans, reported Fairfax Media journalist Clancy Yeates.
 
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Government mortgage financier not exposed to low-doc risk: AOFM chief executive

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While the RBA held firm on the cash rate in August and September, eight lenders on the RateCity.com.au database have reduced interest rates on a total of 12 variable rate mortgage products.
The rate cuts have been introduced on a range of variable-rate products, including standard variable, basic variable, introductory variable and special variable rate offerings.
Non-bank lenders Hemisphere Financial (backed by Resimac) and Resi Mortgage Corporation have reduced rates on three of their variable-rate products.
Other lenders to reduce variable-rate offerings include Bankwest, credit union ECU Australia and non-bank lender State Custodians.
The rate cuts range from 2 basis points to 25 basis points:
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td width="93">
Company
</td>
<td width="123">
Product
</td>
<td valign="bottom" width="123">
Type
</td>
<td width="94">
Current Rate
</td>
<td valign="bottom" width="76">
Rate at Aug RBA meeting 
</td>
</tr>
<tr>
<td width="93">
Hemisphere Financial
</td>
<td width="123">
Alt Doc Loan
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
6.49%
</td>
<td valign="bottom" nowrap width="76">
6.74%
</td>
</tr>
<tr>
<td width="93">
Hemisphere Financial
</td>
<td width="123">
Quickstart Loan
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
6.39%
</td>
<td valign="bottom" nowrap width="76">
6.64%
</td>
</tr>
<tr>
<td width="93">
ECU Australia
</td>
<td width="123">
Introductory Home Loan 1 yr
</td>
<td valign="bottom" nowrap width="123">
Intro Variable
</td>
<td width="94">
5.94%
</td>
<td valign="bottom" nowrap width="76">
6.19%
</td>
</tr>
<tr>
<td width="93">
Hemisphere Financial
</td>
<td width="123">
Home Loan
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
6.09%
</td>
<td valign="bottom" nowrap width="76">
6.34%
</td>
</tr>
<tr>
<td width="93">
RESI Mortgage Corp
</td>
<td width="123">
FlexiFix Pro Revert
</td>
<td valign="bottom" nowrap width="123">
Special/Other Variable
</td>
<td width="94">
6.06%
</td>
<td valign="bottom" nowrap width="76">
6.27%
</td>
</tr>
<tr>
<td width="93">
Bankwest
</td>
<td width="123">
Mortgage Shredder Intro Variable 1 yr
</td>
<td valign="bottom" nowrap width="123">
Intro Variable
</td>
<td width="94">
5.78%
</td>
<td valign="bottom" nowrap width="76">
5.98%
</td>
</tr>
<tr>
<td width="93">
Rate Busters
</td>
<td width="123">
Ultimate
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
5.82%
</td>
<td valign="bottom" nowrap width="76">
6.01%
</td>
</tr>
<tr>
<td width="93">
RESI Mortgage Corp
</td>
<td width="123">
FlexiFix Revert
</td>
<td valign="bottom" nowrap width="123">
Special/Other Variable
</td>
<td width="94">
6.06%
</td>
<td valign="bottom" nowrap width="76">
6.16%
</td>
</tr>
<tr>
<td width="93">
RESI Mortgage Corp
</td>
<td width="123">
FlexiFix 75 Revert
</td>
<td valign="bottom" nowrap width="123">
Special/Other Variable
</td>
<td width="94">
5.96%
</td>
<td valign="bottom" nowrap width="76">
6.06%
</td>
</tr>
<tr>
<td width="93">
State Custodians
</td>
<td width="123">
Breathe Easy Offset
</td>
<td valign="bottom" nowrap width="123">
Basic Variable
</td>
<td width="94">
5.97%
</td>
<td valign="bottom" nowrap width="76">
6.07%
</td>
</tr>
<tr>
<td width="93">
Homestar Finance
</td>
<td width="123">
No Fee Offset
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
6.05%
</td>
<td valign="bottom" nowrap width="76">
6.10%
</td>
</tr>
<tr>
<td width="93">
IMB
</td>
<td width="123">
Essentials
</td>
<td valign="bottom" nowrap width="123">
Basic Variable
</td>
<td width="94">
5.99%
</td>
<td valign="bottom" nowrap width="76">
6.01%
</td>
</tr>
</tbody></table>
 
Source: RateCity.com.au
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The eight lenders that have cut variable mortgage rates since the RBA's August meeting

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Westpac has become the latest mortgage lender to cut its fixed-rate mortgage rates as the battle continues to attract and lock in cautious borrowers in low-priced fixed mortgage deals.
When including the discounts of 0.2 percentage points in Westpac's Premier Advantage Package (PAP) are included in the latest reductions, the new offers will see the following rates apply:
<ul>
<li>Two-year fixed-loan – down 0.15 percentage points to 5.54%</li>
<li>Three-year fixed-loan – down 0.1 percentage points to 5.54%</li>
<li>Four-year fixed-loan – down 0.1 percentage points to 5.89%</li>
<li>Five-year fixed-loan – down 0.1 percentage points to 5.89%</li>
<li>The existing discounted one-year offer remains unchanged at 5.69%.</li>
</ul>
The bank now offers the cheapest three-year fixed home loan rate, compared with 5.59% offered by the Commonwealth Bank and 5.64% on offer from NAB.
It takes the popular three-year fixed-rate loan to its lowest level since April 2009.
It also offers the lowest big four bank two-year fixed of 5.54%, four-year fixed at 5.89% and five-year fixed at 5.89%.
"We have experienced an increasing demand for fixed-rate loans, particularly for extended periods of time as a growing number of our customers look for certainty, security and peace of mind over their mortgage repayments,” says Jason Yetton, group executive of Westpac's retail and business banking division.
"As a result, we are pleased to be able to offer these very attractive rates that put us in a market leading position amongst our major peers in what is a very competitive market."
Westpac’s move to slash fixed-rates follows <a target="_blank" href="/news">Citibank repricing its one-, two- and three-year fixed-rate home loans to 5.55% per annum</a>, a reduction of 44 basis points over the past month.
ME Bank is currently offering the lowest three-year fixed rate at 5.39% for its super and union members, according to ratecity.com.au – 23 basis points below the lowest variable home loan rate on the RateCity database (5.62% from UBank)
The push to offer lower fixed rates comes as demand for the products rises with RateCity.com.au reporting that close to one in five home loan enquiries (18%) in August were fixed-rate inquiries, compared with just 5% in July.
Mortgage Choice also recorded a 33% increase in fixed-rate borrowers in August – rising from 15% of all loans arranged to 20%.
Three-year fixed rates are starting from as low as 5.39% – that’s 23 basis points below the lowest variable home loan rate in the RateCity database (5.62%).
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Westpac undercuts major rivals with fixed rate cut

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With wages growing faster than inflation over the past year, you’d assume that Aussie households are bringing in more than they need to live.
But spending is also getting away from many people. According to the Australian Bureau of Statistics, one in seven Australian households is spending more than it earns.
There is a cliché from the older generations: a penny saved is as good as a penny earned. But where can you cut your costs? I suggest you start with the largest item in your household budget, and for most readers that will be your cost of housing: rent, mortgage and maintenance.
You can refinance into a cheaper mortgage, but you could also find several small household savings and put them into your mortgage in a monthly payment. You can save thousands.
Think about a family with an average $350,000, 30-year mortgage, paying a variable interest rate of 6.44%. If you contribute $20 per month extra you can take nearly a year – and $15,000 in payments – off that mortgage.
Of course, in order to have extra money to put into the mortgage, you need to find savings.
These needn’t be complicated: if you work in the city, chances are you’re spending around $12 on a sandwich and a drink for lunch every day. If you pack a lunch just twice a week, you save $24, or $96 a month.
I used our monthly repayment calculator on ybr.com.au and found that on an average 350,000, 30-year mortgage with an average 6.82% variable rate, putting the cost of two lunches per week into that mortgage equates to a savings of $65,500 and takes 42 months off the loan.
Cutting just one cup of take-away coffee at $3.20 per day is a $69 in savings per month. If you put this into your mortgage you’d reduce your home loan by 32 months, saving you $50,532.
What about your phone costs? Many people have mobile phones but they also have a land line. Do you need both? And do you need that size of download on your internet plan? It’s not impossible to save $50 a month between internet and phone.
Other opportunities to save are out there: shop for packaged holidays rather than buying air fares and hotel rooms separately; reduce your dining out from twice to once a week and you could be saving $300 a month; have either cable TV or DVD rentals; time your petrol fill-up for the cheapest days and buy groceries at the lowest-cost supermarket, even if it means bringing your own shopping bags.
Just about any household can find $200 a month in savings: if you put this into your mortgage each month, you save $112,602 and reduce the term of your $300,000 loan by about seven years.
This is not the stuff of financial masterminds – it’s about cutting small costs in your household so you can reduce the biggest cost of all.
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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mbouris-tauSvXGAM2

Small savings can add up to reduce the length and cost of your mortgage

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The man who first tipped the RBA would start cutting rates in November last year now expects the central bank to resume cutting the cash rate by 25 basis points at its October 2 meeting, having previously favoured a November start.
Westpac chief economist Bill Evans is forecasting another 25 basis points rate cut in November and third rate cut in the 2013 March quarter taking the cash rate to an all time low of 2.75%
This represents a slight change from his Tuesday forecast, following the release of minutes of the RBA's September Board, which Evans said included “some significant signals that the Reserve Bank is close to cutting rates”
On balance, Evans said on Tuesday he expected the rate cutting cycle to resume in November, but that "the ground work has been laid for a move as soon as October".
He now joins three other economists – Shane Oliver from AMP Capital Investors, Stephen Koukoulas from Market Economics and Dominic Bryant from BNP Paribas Asia – who are also tipping a rate cut in October.
Also this week, ANZ Research shifted its view on the cash rate cut timings, and is forecasting rate cuts in October and November with an easing bias thereafter.
In today’s RBA bulletin, Evans explained how Westpac’s reasoning had shifted since the release of the September minutes on Tuesday (September 18)
“Our snap first take on the minutes of the September board meeting indicated that the board was close to a rate cut but probably not sufficiently close to bring the first move forward to October.
“In the analysis of the minutes I noted, “today’s minutes of the RBA’s September board meeting show some significant signals that the Reserve Bank is close to cutting rates ... the ground work has been laid for a move as soon as October... We assess that the bank is close to moving on rates but, in a close call, do not assess that there is sufficient evidence from these minutes to revise our view that the cuts are likely in November and December”.
But with time to further analyse the minutes Evans says the odds “now slightly favour an October move rather than waiting until November”.
“The aspect of the minutes which merits most scrutiny is the statement, 'The current assessment of the inflation outlook continued to provide SCOPE to adjust policy in response to any significant deterioration in the outlook for growth'," Evans says.
Evans says use of the word “scope” is significant.
“That word rang a few bells with us. It has been used sparsely but significantly in the past during easing cycles," he says.
“Since August 2008 there have been two easing cycles – August 2008 to April 2009 and October 2011-present. During those cycles there have been 20 board meetings – eight in the August – April period and 12 in the October-present period.
 
<hr class="system-pagebreak">
 
In the minutes the word “scope” has been used on six occasions in the key paragraphs on Considerations for Monetary Policy.
“Three coincided with the meeting where the decision had been made to cut.
“Arguably, the use of the word at that time emphasises its appropriateness for an easing cycle.” Some commentators have suggested the RBA will wait until the release of September quarter inflation data due out on October 24, but Evans says the CPI report tends to be more significant in a tightening cycle than in an easing cycle.
“There is less urgency to await the CPI when rates are being cut than when they are being increased. That makes the choice between October and November more complex than if the cycle was likely to be a tightening cycle.”
Evans also accepted that much of its analysis of monetary policy statements and minutes could be described as "pedantic", adding that Westpac Economics “certainly sees its primary contribution to assess the medium term outlook for the cash rate. 
“However, some of our customers are interested in the specific month to month timing of these moves and hence the attempt to put some analysis behind reasons for choosing particular months”.
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RBA to resume cash rate cuts in October, followed by November and one in March quarter: Westpac’s Bill Evans

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Mortgage comparison website Mozo has ended its mystery home loan deal, which promised those who signed up a discount of up to 1% off the standard variable rate of a big four bank.
The offer, which was launched on September 6, is no longer on the Mozo home page or in the home loan section of the website.
Mozo spokesperson Kirsty Lamont posted on Property Observer that having received “such a strong level of enquiries from borrowers that our first mystery deal has now closed, as the lender involved has already met their loans quota”.
“We’re working on bringing some new deals to the market again soon,” Lamont added.
The <a target="_blank" href="/news">big four bank involved in the mystery deal</a> was not revealed.
In an earlier email to Property Observer Lamont said Mozo had already handled refinancing and new loan enquiries for over $80 million worth of borrowings.
“Half of this has already progressed through the approval process,” she said.
Assuming an average mortgage size of $300,000, this would equate to around 270 loan deals provided by the mystery bank.
Lamont later confirmed that $80 milion worth of loans were being negotiated with170 borrowers, with an average loan size of around $500,000.
Anyone who did not get a phone call back from Mozo  might conclude that they did not request a large enough loan to entice the interest of Mozo or the mystery lender.
The Mozo offer placed no obligation on the borrower to take up the loan.
Once one of the 170 selected borrowers found out who the bank was behind the offer, it was up to them to decide whether they wished to progress to submitting a mortgage application.
Mozo claimed borrowers could save over $100,000 by taking up the offer based on the current Mozo mystery bank variable rate of 5.93% for a $500,000 loan, versus the current average big four bank standard variable rate of 6.82%, assuming a loan term of 25 years.
The dedicated url <a href="https://mozo.com.au/mystery-bank-deal">www.mozo.com.au/myster-bank-deal</a> was still functioning when we last checked.
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Mystery big four bank Mozo home loan deal no longer available: Spokesperson

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Mystery flights and mystery hotel deals are popular. Why? Because for many people, not only does the price appeal, but there’s also a certain mystique attached to not being aware of where you are going.
But these "mystery" deals are only defined moments in time, so if we come away thinking we could have done better, or would have preferred a different experience, we can easily put it behind us and move on.
However, when you’re making the biggest financial decision of your life, do you really want any ‘mystery’ associated with it, particularly when it’s such a long-term and significant arrangement? After all, this is your financial security you’re dealing with here.
In my long career in the financial services industry I have always been a huge advocate of research. And when you are looking for a home loan or any other financial product, the best research is the research you do yourself.
There are some great financial services comparison websites out there where you can start that research and compare what’s available.
And in the course of that research, you will undoubtedly come across a variety of marketing offers you can take into consideration, along with your research.
One offer that recently stood out <a href="/news">was a "mystery" home loan deal</a>, which offered a significant reduction in the annual percentage rate of the big four banks, but did not mention the lender.
So what impact does this have on a borrower when they see such an offer, but don’t have all of the details?
Clearly they would find it attractive, but further research would show there are equally competitive rates aplenty in the mortgage marketplace.
There is no doubt that a low interest rate is the major priority for all borrowers choosing a home loan, but making that decision based simply on the interest rate is a common mistake, as there is much more to a mortgage product than rate alone.
And that’s because no two borrowers are the same.
We all have different needs and requirements for how we want our mortgage to perform for us. So when you’re looking for a loan, it has to be a personal decision not based on one thing, but on a range of aspects relating to how you manage your wealth through your different life stages.
Therefore, a borrower needs to also look at the fees, features, flexibility, structure and service attached to the loan - and once they do, there are many more questions to ask.
For example, are there low or no fees attached to the home loan?  What are the specific features and are they the most appropriate ones for my circumstances? And is the structure going to be flexible enough for what I may need now and into the next stage of my life?
However, above all else, not knowing the service proposition attached to a mortgage is a bit like marrying someone you’ve never met.
You need to take the time to choose wisely here, because the relationship with your lending professional can be one of the most significant in your life, particularly in regards to setting up an efficient and effective financial platform.
And yet, is it still often something people undervalue in favour of obtaining the lowest interest rate possible.
In fact, the expertise and guidance of this person can open up doors to wealth creation and deliver information that can save you money on interest, reduce your loan term and strengthen your overall financial position.
You should closely consider your lending professional as your first point of contact when enquiring about a mortgage, as this relationship is as important as the interest rate.
With many of us having complicated financial structures, it’s invaluable having the right lending professional there to advise you, educate you and above all empower you to become a better financial manager – and there’s certainly no one-size-fits-all solution.
Like choosing any partner, you need to know you can rely on someone to be there for you to take those next steps and never more than when your finances are involved.
In such a dynamic lending environment, there is much for borrowers to consider and explore – and there should be no mystery when it comes to choosing your mortgage.
Lisa Montgomery is CEO of <a href="https://www.resi.com.au/" target="_blank">Resi Mortgage Corporation.</a>
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