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AFA chief blasts advocacy group's 'baseless claims'


AFA chief blasts advocacy group’s ‘baseless claims’
AFA chief blasts advocacy group’s ‘baseless claims’
The head of the AFA has slammed a consumer finance advocacy group for its lack of understanding of the advice industry, questioning why the organisation was handed more than a million dollars in government funding for the coming financial year.
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In a LinkedIn post on Friday, AFA acting chief executive Phil Anderson said recent comments made by Labor senator Jenny McAllister in Parliament around “shonky advisers” – which the association has said amount to vilification of practitioners in the industry – had come directly as a result of a recent submission from advocacy group Super Consumers Australia. ....

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Family Home Guarantee price caps face scrutiny


Mortgage Business
Family Home Guarantee price caps face scrutiny
By Sarah Simpkins
07 June 2021
The Minister for Financial Services has faced some pointed questions around the new Family Home Guarantee, with a senator blasting its recently revealed pricing limits.
The Family Home Guarantee, which was introduced in the federal budget, aims to allow single parents with dependent children and who do not currently own a house to purchase one, with a deposit as small as 2 per cent.
The initiative, which will act in a similar way to other existing government guarantee schemes, will provide 10,000 guarantees over four years.
Jane Hume, Minister for Financial Services, told Senate estimates last week that the government has budgeted for 10,000 families and will re-evaluate when it sees what the demand is like. ....

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