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Brokers and banks overwhelmed as Australians rush for a mortgage – Sydney Morning Herald

People are buying on Saturday and rushing to get their finances organised on Monday in another sign of the heat in the national property market.

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Mr Elliott said the bank had paused advertising related to home loans as it struggled to keep up with demand. In that world, you dont actually need to do a lot of marketing. In fact, it would just make things worse. Weve toned down the marketing because weve got enough business to keep us busy.
ANZ boss Shayne Elliott says his bank has struggled to process all the mortgage applications flooding in.Credit:Alex Ellinghausen
The huge increase in activity is being felt in mortgage brokers offices across…

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