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BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

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BFCSA: Credit curbs and falling prices: New home sales fall 4.2pc in April

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Credit curbs and falling prices: New home sales fall 4.2pc in April

Australian Financial Review Jun 6 2018 3:38 PM

Michael Bleby

 

New home sales fell at their fastest rate in seven months in April as every mainland state suffered a decline, Housing Industry Association figures show.

The 4.2 per cent decline in sales of new standalone houses, triggered mostly by falls in WA, NSW and Queensland, pulled the monthly total to 5188, the lowest since September, when a 4.5 per cent drop cut total sales to 5045, the industry association's latest monthly report showed on Wednesday.

The effects of falling prices in Sydney and Melbourne – which prompted investors to put their money into alternative assets – and tighter credit curbs over the past year were now also at risk of being reinforced by the royal commission into bank lending and other practices, HIA principal economist Tim Reardon said.

"The most recent concern is that access to finance has become a constraint, as banks exhibit greater caution, due to declining house prices key markets," Mr Reardon said. "An increase in collateral requirements for borrowers is an obvious reaction to falling house prices, as banks seek to minimise risky loans."

For the month, new home sales fell 11.6 per cent in WA, 8.2 per cent in NSW and 2.9 per cent in Queensland. Sales in SA fell 1.7 per cent, while Victoria ticked just 0.1 per cent lower, the HIA said. 

The value of housing loans to investors peaked in the year to August 2017 at $152.7 billion. Investor loans subsequently fell 5.6 per cent to $144.2 billion in March, the HIA said.

 

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