Today we’re bringing you a special edition of the Crunch, featuring Paul Hamilton, General Manager of Peard Finance.

 

With all the news this week about interest rate cuts and the loosening of restrictions on lending criteria and what that means for the economy we thought it would be a good idea to speak to an expert about what exactly that means for the everyman.

 

Some background on Paul before we dive into this episode. As well as being on the of Peard Group’s highest performing Financial Consultants, Paul played a significant role in influencing Federal Politicians to rethink their stance on the mortgage broking industry after recommendations were made by the Royal Commission that would have decimated the industry, so he is well qualified to speak on the topic.

 

Whether you’re an agent, looking to buy, looking to sell or know someone with a mortgage, there is something here for everyone - we recommend sharing it with family and friends.

 

1.15 – A background as a business analyst

2.00 – An industry under the spotlight since the GFC

4.45 – What does a mortgage broker do?

7.05 – Why were mortgage brokers targeted in the Royal Commission?

9.00 – The Royal Commission findings – A 4th of February shock

10.40 – How a mortgage broker gets paid and what “Trail” means

12.10 – Reaction to the Commission findings

13.25 – Paul’s role in turning things around and convincing Cabinet to change their policy position

19.15 – Status quo

20.10 – Why has finance been so difficult to get in the last few years? The focus on the interest rate floor, living expenses and assessible income

23.00 – The tools being used to get the economy moving- removing the APRA floor, cutting the interest rate & mortgage insurance for first home buyers

26.10 – Investing in Perth and the impact of interest only lending

27.10 – The interest rate cut and why you should be speaking to your mortgage broker

32.30 – Being optimistic about the next 2 years

34.10 – Earning trust through transparency and communication

36.00 – Who works harder – an agent or a broker?