Growing national developer Time &amp; Place has announced its fifth new apartment development.

With two projects in Manly and two upcoming in Surry Hills and Potts Point, the developer, which expanded beyond Melbourne just a few years ago, is now heading to Mosman. It is planning 53 new apartments on Redan Street.

The 3,233 sqm site, spanning <a href="https://www.apartments.com.au/new-apartments/40-48-redan-street-mosman-nsw-2088">40–48 Redan Street</a> with frontage to Redan Lane, is located just under 400 metres from Spit Junction Town Centre. It is reported the developer paid around $100 million for the five-site amalgamation.

Time &amp; Place, founded by Tim Price and backed by James Packer’s private investment firm NPACT, has submitted the project as a State Significant Development through the NSW Government’s Housing Delivery Authority pathway.

Of the 53 apartments, 42 will be released to the market, with the remaining 11 allocated as affordable housing in line with NSW Government requirements.

fjc Studio has designed the building. In its Design Report, the architect said the diverse mix of dwelling types and sizes, including 11 two-bedroom affordable housing units, 40 three-bedroom apartments, and two four-bedroom residences, will support a broad demographic, including families, downsizers, and key workers.

The development will rise to nine levels, a height encouraged by the NSW Government due to the site’s proximity to Spit Junction, which has been identified as a low- to mid-rise centre. Developments within a certain proximity to these centres are permitted increased height.

fjc said the project “achieves an appropriate density outcome for its setting by balancing increased housing supply with strong amenity performance,” adding that it “makes a measurable contribution to NSW housing supply targets through the delivery of additional dwellings and dedicated affordable housing.”

The new development will replace five existing two-storey homes.

“By aligning with the objectives of the Housing SEPP and applying careful architectural and urban design principles, the development provides high-quality residential accommodation that integrates sensitively within its established Mosman context and delivers enduring benefits to residents and the wider community.”

Mosman has become increasingly popular with developers in recent years.

Developer Abadeen has been particularly active, with Mosman Residences currently on the market and under construction on Clifford Street. It also has an upcoming Burran Avenue project, comprising just three apartments on the Balmoral Slopes, and recently secured the Midas and Honeysuckle nursery site on Military Road.

Prosker Property has a project on Redan Lane, just a few doors down from Time &amp; Place’s proposed development.

Developers including Toohey Miller, DARE Property Group, and WINIM also have projects underway in the area. In 2024, a five-year target was set for the Mosman LGA to increase housing supply by 500 dwellings by 2029.

Time &amp; Place entered the Sydney market with Two Tides, its under construction Manly development. Given its sales success, it has secured another development in the area, more boutique, facing the beach on North Steyne.

They are hoping to launch their redevelopment of The Chimes in Potts Point this year, and next year will look to take to market Marlborough House, an adaptive re-use of the landmark David Jones warehouse in Surry Hills.

Joel Robinson

Time & Place to take on Mosman apartment market

Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;

Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.

At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348840]

Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.

This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.

Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.

The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348841]

Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;

Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.

Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.

Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;

Construction has commenced through reputable builder Manresa, who will complete the project in 2027.

[smartcode_project_cta:default project_id=136434]

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.

In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.

Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.

Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.

[smartcode_project:default project_id=342 project_image_fid=357506]

The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.

Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.

A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.

[smartcode_project:default project_id=342 project_image_fid=357508]

The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.

This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.

[smartcode_project:default project_id=342 project_image_fid=364553]

Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.

Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.

Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.

[smartcode_project_cta:default project_id=342]

Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;

Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.

Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.

A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.

Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.

Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.

[smartcode_project:default project_id=136535 project_image_fid=361030]

Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.

“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.

“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.

Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.

With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.

[smartcode_project_cta:default project_id=136535]

Elsternwick Gardens' wellness-first design strategy

Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Red & Co unveils amenity-rich Como development in Varsity Lakes

Home Loan

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Aussies say taking out a home loan is a process shrouded in mystery for many first home buyers, and 71% would like more help choosing a loan, according to the latest research by mortgage broker Mortgage Choice. An independent survey conducted by CoreData on behalf of Mortgage Choice, found that across all the stages of a buying a home, applying for a loan is the aspect where first home buyers (49%) are most likely to need the support of others.

One in two (57%) first home buyers report being ‘highly’ or ‘reasonably’ confident that they understand the home loan features best suited to their needs, however one in three (32%) have ‘minimal’ confidence. However more than one in ten (11%) have no confidence at all in their ability to distinguish which home loan is right for them. 

The top five challenges first home buyers identified in securing a home loan include:

<ol>
<li>47% Understanding how the whole process works</li>
	<li>46% Making sure they are getting the best deal possible</li>
	<li>45% Making sure they qualify for the loan amount and property they want to buy</li>
	<li>41% Establishing what they can afford to comfortably pay back</li>
	<li>37% Understanding what (if any) government support they qualify for.</li>
</ol>
Unsurprisingly, 71% of first home buyers say they wish they had more support to make decisions around choosing their first home loan. Among these first homeowners, 39% rank ‘someone to help guide me through’ as the top source of support they wish they had, 26% just want someone to help build their knowledge and confidence.

“Home loan interest rates are at historic lows, which is great news for first home buyers. But the research suggests that the biggest challenge many first home buyers face right now, is not financial – rather it’s uncertainty about how the buying process works," Susan Mitchell, CEO of Mortgage Choice, said.

When it comes to seeking support, the survey found one in two (50%) first home buyers rely on family, friends and work colleagues, 46% turn to a mortgage broker, and 36% rely on online information.
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More than one in ten first home buyers have no confidence at all in their ability to distinguish which home loan is right for them. 

urban.com.au

71% of first home buyers wish for more support choosing their home loan

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Over the month there were $32.3 billion in housing finance commitments which is 1.0 percent higher over the past month. 
Although the value of housing finance commitments increased in May 2016, they are now -4.6 percent lower than their August 2015 peak of $33.8 billion worth of commitments. 
The CoreLogic Mortgage Index, which tracks 95 percent of national valuation activity, indicates that in June 2016 the level of mortgage activity is set to slow from May, pointing to a slowing of housing finance demand.
<a href="/images/2016/07/18/Chart-1-580x210.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/18/Chart-1-580x210.jpg" alt="">
<div class="entry">
 
In May 2016 there were $20.5 billion worth of owner occupier housing finance commitments and $11.7 billion worth of investment commitments.  Owner occupier commitments fell by -0.6 percent over the month but were 15.4 percent higher year-on-year.  Conversely, investor housing finance commitments increased by 3.9 percent over the month and are -13.3 percent lower year-on-year.
<a href="/images/2016/07/18/Chart-2-1-580x210.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/18/Chart-2-1-580x210.jpg" alt="">
The $20.5 billion in housing finance commitments by owner occupiers was both lower over the month and -4.9 percent lower than the December 2016 peak of $21.6 billion worth of commitments.  Across the components of owner occupier housing finance commitments there was $1.8 billion in commitments for construction of dwellings, $1.0 billion for purchase of new dwellings, $7.0 billion for refinances of established dwellings and $10.7 billion for purchase of established dwellings. 
Each segment of owner occupier mortgage lending except for purchase of established dwellings fell over the month with each segment now also lower than the recent peak.  The respective declines are recorded at -3.8 percent for construction of dwellings, -27.0 percent for purchase of new dwellings, -5.9 percent for refinancing of established dwellings and -5.6 percent for purchase of established dwellings.
<a href="/images/2016/07/18/Chart-3-1-580x212.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/18/Chart-3-1-580x212.jpg" alt="">
There was $11.7 billion worth of investment housing finance commitments in May 2016 which is -18.2 percent lower than its $14.4 million peak in April 2015.  Looking at the components, there was $1.2 billion worth of commitments for construction of dwellings and $10.5 billion in commitments for established housing.  The value of commitments for construction of dwellings was 15.5 percent higher over the month and 22.4 percent higher year-on-year.  Meanwhile, the value of commitments for established housing was 2.7 percent higher over the month and -16.1 percent lower year-on-year. 
Since mortgage lenders began to implement investment lending changes to slow annual investment credit growth below 10% there has been a significant slowing in lending to this segment.
The May 2016 housing credit data from the Reserve Bank (RBA) shows that investment credit has advanced 6.0% which is its slowest annual increase since July 2013 and well below 10% annually.  Perhaps this is why investor lending picked up in May with mortgage lenders now having more scope to lend to investors.
<a href="/images/2016/07/18/Chart-4-1-580x214.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/18/Chart-4-1-580x214.jpg" alt="">
Looking at the value of new lending (excluding refinances) for new housing and established housing shows that in May 2016, $4.0 billion was for new housing and $21.3 billion was for existing housing.  Based on this data, 15.9 percent of total lending over the month was for new housing with the remaining 84.1 percent for established housing. 
Of this $4.0 billion in lending for new housing, $1.2 billion or 30.6 percent was lending for investment purposes with the remaining $2.8 billion or 69.4% of lending for owner occupation purposes. Of the 84.1 percent of new lending for established housing, $10.7 billion or 50.5 percent was borrowing by owner occupiers with the remaining $10.5 billion or 49.5% borrowed for investment purposes. 
The data shows that much more lending is for established housing which makes sense when you consider the flow of new housing, despite being at record highs, is only a fraction of the total housing stock.
Despite low interest rates that are anticipated to go lower over the coming months it is difficult to imagine how growth in housing finance commitments will experience a significant uplift. Investor demand may pick up a little but historically weak rental growth and record low rental yields along with a surge in new investment housing stock should limit any uplift. 
This should also contribute to a slowing in value growth in Sydney and Melbourne and although other areas may see a pick-up in mortgage demand, much lower home values in those regions will likely limit any significant pick-up in housing finance commitments.
</div>
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ckusher-ujnxiKuFQs

Investor housing finance commitments bounce in May 2016: Cameron Kusher

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GUEST OBSERVER
Businesses need to operate in rapidly changing conditions and this has many brokers wondering how do they grow – or in many cases, simply how to stay afloat in an increasingly tough industry.
Brokers can stay ahead of the curve by focusing on ten key areas.
1. Process improvement
Continually seek out opportunities to complete processes in your business faster and more efficiently. As a broker, you will obtain greater business results if you are not the only resource in your business. If you are, review the alternative options for completing key tasks, to maximise your output and 'income producing hours'. This could include how you capture your clients supporting documents, or outsourcing the file management of your loans.
It helps to set time aside each month to review business processes. Document all the tasks in the business, identify clear steps in each of the processes, and then seek out alternative ways to deliver these processes.
2. Customer feedback
"Feedback is the breakfast of champions" (Ken Blanchard) has never been more applicable than in the digital age where customers are inclined, and encouraged to share their thoughts. The best way to improve your business is to ask the person who just used your services for feedback, and then actively respond to their insights. It’s invaluable and directly feeds into process improvement.
3. Customer referrals
There are three rules when it comes to asking for referrals: ask for them, ask for them, and ask again!
There are also four key points during the customer journey that you should ask for referrals:
<ul>
<li>When you first meet or engage – ask how the customer heard about your business and let them know how import_ant client referrals are to growing your business.</li>
<li>At Conditional Approval - ask the customer if they know of anyone else who is currently seeking financing or advice that you could assist.</li>
<li>Upon Settlement - refine and personalise the question about who the client may refer i.e. do they know of anyone at their school or sporting club (whatever is applicable) who may benefit from your services.</li>
<li>When you ask customers to rate your performance.</li>
</ul>
4. Online referrals
The ‘gold standard’ of a broking business is to secure 5-7 key referral sources. Given that a large proportion of borrowers do their research online, broker businesses should now consider an online lead opportunity as part of their referral network.
5. Time expenditure
Review how you can reduce time wastage in your business and maximise your output. For example, offices are more than simply a 'cost' to a business. Numerous points of research have shown that brokers with a permanent office are more profitable than brokers who drive to meet their appointments. This makes sense as 'income producing hours' are not being spent in a car.
6. Diversified business model
A single broker, offering one product is no longer a sustainable business model. Customers are time poor and require a holistic discussion regarding their financial position. It is beneficial to have key partners within the business to assist with the full suite of client requirements, as well as align with two or more brokers in order to leverage office support and reduce broker effort on administration tasks.
7. Performance tracking
The brokerage business is mostly a numbers game. If you know your ratios and current performance, you know how many leads you need to attract in order to write your annual settlement target.
Generally, industry statistics for leads to lodgement is 60%; and lodgement to settlement is 80%. If a broker applies their average loan size, then it is possible to calculate the total loan volume forecast within a year.
8. Monthly marketing strategy revamps
Marketing is a key aspect to growing your business. Ideally you should be implementing a new initiative each month. It can help to brainstorm 10-11 ideas for the year and then select one to implement each month, starting with the initiative that provides the ‘biggest bang for your buck’.
9. Business disruption
"If you are not disrupting your own business, someone else is" (Andy Groves).
Every broker should ask themselves whether they think they or their business is changing at a faster pace than their customers, or whether their customers are moving and changing at a faster rate than their business.
Implement an 'ideas jam' to see how you can disrupt your own business to continually improve and change. Even small steps can make a huge difference.
10. Work-life balance
Running your own business is challenging and will stretch the best of us, but it is important to keep balance and enjoy the opportunity. Success is the journey, not the destination.
Siobhan Hayden, is chief operating officer of HashChing and can be contacted <a href="https://www.hashching.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

10 things mortgage brokers should focus on to maximise returns: Siobhan Hayden

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The Commonwealth Bank is the latest lender to lift interest rates for homebuyers looking to fix their home loan.
The country’s biggest lender lifted the rate of its popular 3-year fixed rate by 0.20 percentage points to 4.24 percent on Friday.
It also lifted its longer-term 5-year fixed rate by 0.60 percentage points to 4.74 percent.
CBA was the second major bank in a fortnight to lift fixed rates following Westpac.
A RateCity.com.au analysis shows that a further 20 lenders have lifted rates 268 fixed products since November 1.  
Peter Arnold, data insights director at RateCity.com.au said fixed rates are based on market expectations of future rates and "are the best indicator that we’ve got that a variable rate hike on the way.".
“Previously, banks were betting on lower rates in the future but we’re seeing those expectations change by the day.
"Shorter-term fixed rates are still sitting below variable rates, which tells us rates will stay steady when the RBA meets on Tuesday.  
“But longer-term fixed rates, such as 5 years fixed, are sitting higher than variable rates and rising by the biggest margins, which tells us that they don’t expect low rates will last forever.”
But he added it’s always a gamble when deciding whether or not to fix your home loan.
<a href="https://www.propertyobserver.com.au/images/2016/12/05/Screen%20Shot%202016-12-05%20at%208.17.48%20AM.png" target="_blank">Click to enlarge</a>
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"Our research shows that over the past 20 years, people who stuck with variable rates came out ahead 63 percent of the time,” he said.
“People often fix in panic, for instance in the lead up to the GFC fixing became progressively more popular as rates increased to the point where one quarter of new loans were fixed at over 9 percent in March 2008.
“There are now 240, 3-year fixed rates under 4 per cent and you can even lock in a rate as low as 3.8 percent until Christmas 2021.
"So if you’re someone who prefers the certainty of knowing your repayments, then now might not be the worst time to consider fixing.”
According to Canstar, in monthly repayment terms, CBA’s rate increase will mean a rise of more than $355 for a borrower with a 30-year fixed loan paying the new rate of 4.74 percent.
It was a time of growing uncertainty in the lending market, reflected last week when Australian Broker reported on the growing gap between the most expensive and the most affordable loan rates for residential property has widened to nearly 240 basis points.
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Commonwealth Bank lifts fixed rates

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Australians have forked out an estimated $47.6 billion in ‘lazy tax’ over the past 10 years by keeping their mortgage with the Big Four banks rather than switching to one of the lowest rates in the market. 
That’s an estimated $14,215 for a borrower with the typical $300,000 mortgage, or $23,692 for borrowers with a $500,000 loan.
Sally Tindall, money editor at <a href="https://www.ratecity.com.au/home-loans" target="_blank">RateCity.com.au</a>, said borrowers shouldn’t set and forget about their home loans.
“Australians, traditionally, haven’t been big switchers but when they do, they are saving thousands of dollars,” she said. 
“It’s not difficult to find an interest rate starting with a three, and it’s not uncommon to find rates starting with five, so the variation between rates is huge in dollar terms.
“People need to start thinking about the rate they are paying and factoring that into their bottom line when they take out a loan.”
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Switching makes dollars and sense: Ratecity

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Mortgage Choice Limited has shut down its Help Me Choose business unit five years after its purchase of one of Australia’s leading websites for home loan leads sold to mortgage brokers.
The comparison website was bought to generates tens of thousands of home loan leads annually from potential home loan customers.
The then Mortgage Choice CEO Michael Russell said the purchase marked an exciting strategic investment for the company "given that over 70% of our home loan leads are currently sourced online.”
HelpMeChoose.com.au featured when Mortgage Choice presented its FY15 financial results in August .
The new chief executive officer John Flavell made it clear that Help Me Choose’s financial result needed addressing.
“The less than favourable financial result of the Help Me Choose business prompted a comprehensive review of the operation and a decision has been made to close it down in its current form,” John Flavell said yesterday. 
“Continuing to invest in a business that is unlikely to be profitable in the foreseeable future does not make sense.”
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Mortgage Choice decides to close Help Me Choose‏

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A Melbourne man has pleaded guilty to one charge of conspiring to defraud financial institutions following his role in an attempt to create and use of false documents to support loan applications valued at approximately $110 million.
The charge follows an ASIC investigation into Footscray-based finance broking company, Myra Home Loan Pty Ltd, trading as Myra Financial Services (no longer trading) (Myra).
Aizaz Hassan pleaded guilty the Melbourne Magistrates' Court on 9 September following his <a href="/expert-insights/finance/arrests-follows-after-12-lenders-caught-in-alleged-110-million-myra-home-loans-fraud">arrest and charge in January</a>.
He is currently on bail and will appear at the County Court at Melbourne on 14 October.
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Melbourne man pleads guilty for role in multi-million dollar home loan fraud conspiracy

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The Commonwealth Bank has surprised the market in lowering its home loan assessment rate.
The interest rate used to work out whether a customer can service the debt of the home loan if rates rise was 7.4%; but now that rate is 7.25%, according to Sophie Elsworth, the News Ltd personal finance writer.
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The analysis from mortgage broking firm homeloanexperts.com.au showed the drop to assessment rates applied to owner occupiers and investors.
However CBA has recently tightened other serviceability requirements including only allowing maximum loan-to-value borrowings of 95% for owner occupiers. 
It had previously allowed borrowings of up to 97% including the cost of mortgage insurance.
<div>All home loan lenders assess a loan application using their own mortgage assessment rate, which is a buffer they add into the interest rate.</div>
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<div>Both the lender and the borrower can have confidence that the loan repayments can be made without undue hardship.</div>
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<div>The mortgage assessment rate varies between each lender, though typically from 1.0% to 2.5% above the variable rate.
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<div>This allows the lender to assess the borrower's ability to repay the loan, should the Reserve Bank cash rate rise during the term of the loan.</div>
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CBA lowers its home loan assessment rate

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Despite the cash rate cutting to a historic low this month, research from finder.com.au reveals that around 43% of home loan providers have failed to pass on the full 25 percentage points to borrowers, meaning many Australians are being left with a sting. One option to combat this is by choosing a home loan with a 100% offset account as a way to continually save on the interest.
If your lender won’t pass on the full cut, comparing your home loan options and beating the banks with an offset account could be your most powerful plays.
 finder.com.au’s 3 lowest variable rates that allow for a 100% offset account:
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loans.com.au Dream Home Loan Offset Variable: 4.02%
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This competitive rate is available to those who have saved a deposit of at least 10% of the property value and aren’t afraid of $520 worth of startup fees (a $300 settlement fee paired with a $220 valuation fee). You’ll have access to a loan that allows splits, extra repayments and redraws, and is portable, too.
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State Custodians Standard Variable Offset: 4.09%
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This home loan comes with a $299 annual fee price tag, which will be paired with valuation fee of $275 in your first year. This may be a small upfront price to pay for what is one of the lowest rates in the market – meaning an ongoing savings. It’s up to you to factor in the long and short term commitments to the rest of your financial situation
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BankWest Super Start: 4.17%
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This rate is a discount off their standard variable rate (which is 5.47%) and is effective for 3 years. In return for this low rate you’ll have to pay some substantive fees, such as a $695 application fee (waived if you apply through finder.com.au), $300 company fee and $350 portability fee. Locking in a discounted variable rate for 3 years is a crucial strategic consideration, but that doesn’t mean you should overlook the significant fees you’ll be forking out for.
 finder.com.au’s 3 lowest 3-year fixed rates that allow for a 100% offset account:
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Bank of Queensland Fixed Rate: 3.99%
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This low rate is available through a limited-time discount for new borrowers who have a deposit of at least 20% of the property value. While you’ll have access to a 100% offset account and extra repayment options, the fees associated with this loan total $570 in the first year, made up of an annual service fee of $120, $300 application fee and $150 exit fee.
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Greater Building Society Ultimate: 4.29%
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For the low rate, this loan also has some flexibility-adding features such as additional repayment, redraw facilities and split options. That being said, you’ll be expected to fork out $375 as an ongoing annual service fee, which could especially sting when combined with the once-off settlement fee of $180.
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Commonwealth Bank Fixed Rate Wealth Package: 4.69%
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The wealth package is made to accommodate for exactly that – those who can afford a few fees and expenses for a lower rate in return. With a $600 application fee and $375 annual fee, you’ll spend just short of $1000 in additional expenses in your first year of the loan. With that in mind, being allowed unlimited additional repayments could be a means to minimise interest charges, which may offset those initial expenses. All in all, this loan is a portable, flexible account for people that can manage their money enough to offset the expenses that come with this product.
MICHELLE HUTCHISON is spokesperson for comparison website <a href="https://finder.com.au/" target="_blank">finder.com.au</a>.
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