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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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The 3 basic milestones of a ‘complex’ home loan journey

By Grace Ormsby · September 05 2019

Reading:

Borrow

The 3 basic milestones of a ‘complex’ home loan journey

By Grace Ormsby
September 05 2019

Reading:

The 3 basic milestones of a ‘complex’ home loan journey

By Grace Ormsby · September 05 2019

Reading:

Have you found the home loan process complex, multifaceted and nonlinear? You aren’t alone, with a new report considering the journey a complicated one for both first home buyers and seasoned investors alike.

In the recent ASIC report, Looking for a mortgage: Consumer experiences and expectations in getting a home loan, the commission laid out the steps taken in the home loan journey, while highlighting that “whether consumers are buying their first home or investing in residential property, the commitment to take out a home loan is one of the biggest financial decisions they will make”.

The snapshot of the home loan journey provided in the report showcased three milestones as generally evident across each consumer’s journey:

1. Choosing whether to take out a loan directly through a lender or by using a broker, which often involves initial research and “shopping around”.
2. Engaging with either the lender or broker.
3. Deciding on a loan, which encompasses pre-approval, approval and settlement.

According to ASIC, consumers usually follow multiple pathways through their journey.

“At each milestone, they may stop, regress or progress depending on their individual circumstances,” it reported.

The initial decision as to whether someone would take out a loan directly or go through a broker is often influenced by experience, the research found, with consumers considering what would be the “easier” option and who they thought would be able to deliver them the most suitable home loan as major deciding factors.

The recommendations and advice that is provided by family and friends also has a heavy influence on consumer decision-making, according to the report.

It flagged that consumers who already had a good idea about the home loan they were after and valued the convenience of staying with their existing lender tended to take out their loan direct with a lender, with these individuals generally making a loan decision after comparing only a few offers.

Consumers who were less sure about which home loan would be right for them, or who were keen to access a range of home loan options without having to do the “shopping around” themselves, were more likely to engage a broker, the report continued.

“How these consumers reached a decision on the loan they would take out varied and usually depended on the consumer’s own confidence and knowledge about home loans,” ASIC offered.

It went on to say that it was unsurprising that the first home buyer journey would be distinct from that of other borrowers with previous experience to call on.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.