Property news you need to know: The week ending 21 November

1. New ethics index places agents near bottom of the pile

In the eyes of consumers, real estate agents are only more ethical than Australia’s federal politicians, according to the latest edition of the Ethics Index from the Governance Institute of Australia.

2. How investors end up in ‘mortgage prison’

APRA’s recent increases to banks’ loan serviceability expectations are intended to cool rapidly rising prices, but industry experts warn that there could be unintended consequences, including hindering investors’ ability to refinance at a lower rate.

3. Digital lenders indicate mortgage industry blind spots

A neobank and two fintech lenders have pointed to problem areas in the home loan process, which they believe are holding the industry back.

4. ‘Thousands in fines’: How social media can land agents in hot water

Don’t get pulled up by Fair Trading for accidentally breaching the law with your social posts, a real estate industry marketing expert has warned.

5. Harcourts Australia kicks off global ratings partnership

The network has revealed a new and wide-reaching partnership with agent marketing platform RateMyAgent.

6. Most borrowers ready for a rate rise: RBA

The majority of mortgage holders are already maintaining higher loan repayments than required and won’t be shaken by a climbing cash rate, according to the Reserve Bank.

7. 91% of broker clients would recommend their broker

Broker clients overwhelmingly believe brokers act in their best interests and would recommend them to friends and family, new bank research has found.

8. New draft regulatory guide released on consumer remediation

Credit licensees are being asked to respond to ASIC’s new regulatory guide on how they should conduct remediations to return money owed to consumers.