Episode 35: James Green & Duncan Tonkin - The Changing Mortgage Industry

Since the Royal Commission into the mortgage industry in 2019, mortgages have been scrutinised with a fine-tooth comb, and it just seems like it's almost impossible to get a mortgage without donating a kidney.  We will get to the bottom of why it all happened, and how you can successfully obtain a mortgage in the current climate.

We have two amazing guests on to talk to us about the changing mortgage industry. 

Duncan Tonkin is the director of Villa Finance Group, who specialises in residential and investment lending. Duncan has 24 years experience in the banking and finance industry, and in 2013 began Villa Finance Group. His team have a passion for assisting clients create wealth through property and are in the midst of implementing a revolutionary blockchain technology called 'Intelligent Credit' in conjunction with Australian Mortgage that will completely simplify the home lending process for home loan applicants.

James Green is also with us from Australian Mortgage. James has had over 20 years experience in financial services and property. He has established an exclusive network and has won 18 mortgage industry awards. James has been actively involved in the financial industry where he has held positions on the MFAA National Lenders Committee, The MFAA Mortgage Managers Committee and The Council of Mortgage Lenders. James has been a speaker at the Finance Brokers Association of Australia's National Conference and has written numerous educational articles for Kaplan Education and Total Real Estate Training. In 2017/2018, James owned, managed and settled over $1.5 billion in residential mortgages.

1. Let's start with the Royal Commission, James what have been some stand out changes since the Royal Commission of 2019?  

        a. What are the reasons for making the changes?

2. Duncan, how has it changed since the outbreak of Covid?

       a. How are people doing their property and finance transactions now?

       b. Why is there a danger in doing a loan repayment deferral?

3. Duncan, are lenders being conservative in how much they lend?

      a. What is considered the affordability mark now for lending?

      b. What is the main criteria that makes it harder for home or investment buyers to get a loan now?

4. James, how is the mortgage industry making it more beneficial for their customers?

5. Duncan, what should buyers be looking for in their mortgage lender?

6. Duncan, do lenders still have costly exit fees, or is it easier to change loans, ensuring that lenders are giving you the best service and most competitive price?

7. Tell us about the future in mortgages.

8. What is AMM Blockchain Technology?

9. What is intelligent credit?

10. How can we get our loans approved in 15 minutes?

11. Should we be concerned with privacy of information?

12. Does this mean that buyers can be confident in buying a house tomorrow, after securing finance today?

13. When will intelligent credit be available and how do we get it?

 

If you would like to contact Duncan Tonkin from Villa Finance Group to help you with your home loan, you can call him on 0411 867 004 or go to villafinancegroup.com.au

James Green from Australian Mortgage can be contacted by email: info@australianmortgage.com or by calling 1300 134 310.