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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: The political battle to address housing NON - affordability is not over.

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The political battle to address housing affordability is not over

Sydney Morning Herald 12 April 2018 11:08pm

Eryk Bagshaw with AAP

Coalition MPs feeling the political heat over housing affordability say the battle to bring down prices is not over, with one predicting a "war to come" unless the Turnbull government takes decisive action in the May budget.

In a rebuke of the budget's expected focus on income tax cuts and infrastructure spending, Liberal MP John Alexander told Fairfax Media that Treasurer Scott Morrison should tighten restrictions on foreign home ownership, place further curbs on investors, and allow Australians to part-own houses and apartments under a government-backed scheme.

Mr Alexander said the high cost of housing "needed to be proactively addressed rather than waiting for a war to come".

Housing affordability was nominated by voters in a Roy Morgan survey released on Tuesday as one of the top economic issues facing the country.

Australian Bureau of Statistics data released on Thursday showed the proportion of loans going to first-home buyers has dropped for the second time in three months, falling slightly to 17.9 per cent in February. This proportion is at a five-year high and is comfortably above the 12.9 per cent trough reached in March 2016.

"From the perspective of getting first home buyers into the market, the NSW and Victorian state governments' stamp duty incentives are working a charm," said ANZ senior economist Daniel Gradwell.

Median house prices remain close to $1 million in Sydney and Melbourne, fuelling internal Coalition concerns that frustrated first home buyers will be left behind.

There is also growing anxiety about investors fleeing the market, potentially leading to a future shortfall in rental properties a year after Mr Morrison ordered a crackdown on interest-only loans to cool an overheating housing sector.

The Treasurer took a "scalpel not a chainsaw" approach to housing affordability last year, unveiling nine measures that included allowing first home buyers to save $30,000 in tax-free superannuation for a deposit and placing new restrictions on investor deductions.

“We are implementing that plan,” he said on Thursday. “We are in the doing phase, not the talking phase.”

Labor has vowed to limit negative gearing should it win the next election.

The housing market has softened over the past year, with prices falling 2.1 per cent in Sydney and rising at a slower pace of 5.3 per cent in Melbourne, according to CoreLogic.

Mr Alexander - who says he leads a group of government MPs concerned about housing prices - warned here was still "a lot of work to be done".

He agreed Turnbull government ministers had stopped talking about an issue that was still important for voters in urban electorates.

"Home ownership continues to be a very important issue for my electorate, the greatest ill is that it creates a division of wealth between the have and have nots," said Mr Alexander.

"The government's responsibility is to act for the wellbeing of people, whether you are an investor or a homeowner. It is where the majority of Australians have their wealth."

A Fairfax Media analysis of public comments by senior Turnbull government figures shows that housing affordability has been mentioned just six times this year despite being the subject of furious attention ahead of the 2017 budget.

Mr Morrison declined to comment on whether the government would include further housing policies in the May budget.

Housing Industry Association principal economist Tim Reardon said the targeting of investors had put a handbrake on new developments.

“Unfortunately, the value of loans to investors dwarfed the rise in first home buyer loans which fell by $3.7 billion over the three months to February this year," he said.

“This means that there has been a significant reduction in investment in new homes, which will impact of affordability over the long run."

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