Our Blog.

There have been changes developing throughout our banks during the COVID-19 environment. We are seeing a tightening of verification requirements, while the banks are also seeking more rigorous documentation that is even more time sensitive.  

This is likely to impact on the turn-around times from our lenders if clients are unable to provide the required information dated within the required time frames. This will create a sense of urgency in our broker and client communications. At Capita Finance our team is fully prepared and sufficiently equipped to support our clients through this process.   .. Continued

I am coming to you from a new environment working remotely managing day to day family and business needs from the home office that has become the new way of business.   

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The seemingly never-ending cycle of news stories around the current COVID-19 situation was heavily added to yesterday, as the Reserve Bank of Australia cut rates, mid-month, in an effort to ease the burden this crisis is causing. 

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The COVID-19 pandemic has made its way through to Australia, and the finance world is moving to support the fall out of our our major banks have officially outlined how they plan to help those who have been, and will be, affected. 

In addition to supporting the Australian Banking Association’s decision to suspend principal and interest loan repayments for small businesses facing hardship through this time, the big four are making moves of their own. Now the minor banks are making moves of their own, each and every one determined to support their customers through this tumultuous time.  .. Continued

The Capita Finance Solutions (Capita) leadership team have this week enabled all operations to work remotely if the need arises to ensure services to clients remain uninterrupted.

Speaking with Capita General Manager, Gill McLean, she stated, “Last year we rolled out a series of new technologies to enable our support team, brokers and financial planners the ease of collaboration from their own offices, with access to industry updates and online forms on the go, this has enabled us to switch to an online business model at a time like this ensuring we protect the safety and well being of our teams, clients, partners and community whilst ensuring minimal disruption to our clients.”.. Continued

In a time full of economic shifts, the Reserve Bank of Australia has attempted to provide a little easing in the market. Australia’s cash rate has now been set at 0.50% for March, which is a record low. 

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The hotly debated best interests duty for mortgage brokers has now formally passed through both houses of parliament. The bill originated from the Royal Commission into the Misconduct in the Banking, Superannuation and Financial Services Industry. The outcomes of the bill are to amend the existing National Consumer Credit Protection Act 2009 and the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009. 

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The cash-rate has held on to its all-time low of 0.75 per cent in the early months of 2020. Though many people have not yet taken advantage of what these cuts can offer. The good news for home buyers and homeowners is that it is never too late with the rates holding tight. 

The reduced cash rate has seen a ripple effect, though not quite to the same extent, flow through the lending market. Most banks have passed on a reasonable amount of the cuts, and most borrowers should have seen some form of reduction in their mortgage repayments.  .. Continued

Following the inspirational and informative Better Business Summit, Capita Finance Solutions attended the seventh annual Better Business Awards celebration. The 2020 awards evening was hosted on February 20, 2020, at the Crown Perth, and highlighted achievements of the Finance Broking Industry.  

Capita Finance Solutions, as a group, were proudly awarded the Best Branded Office award, recognizing excellence in delivery of the brand promise to our customers, brokers and partners. In addition, two of our exceptional brokers were acknowledged as finalists this year. Danial Cole received a nomination for Rising Star, while Adam Donald was recognized with a nomination for Best Residential Broker.  .. Continued

Christmas and the New Year are exciting and busy times, especially at the shops. What about the businesses though, that can’t rely on retail sales for a cash injection? Now that we transitioned away from the silly season and life resumes as normal, not all businesses are riding that post-holiday high. Many business owners are being forced to dive into their personal accounts to cover their current cash flow shortfalls. Results from a ‘My Business’ poll asked its respondents “how quickly are your invoices typically paid by your customers/clients?”. After receiving 153 responses, 58.9% said they were paid within 30 days. 

16.3% said they are paid at point of sale.  9.2% said they are paid within 7 days.  13.1% said they are paid within 14 days.  20.3% said that most payments are received within the 30-day mark.  .. Continued