With property prices soaring and borrowing capacities diminishing, it's no wonder that the bank of mum and dad has become the country's fifth-largest lender. But what does this growing divide mean for the future of aspiring homeowners and society at large? Today’s guest, Brian Hartzer - Chairman of 2Be, Beforepay and Reejig brings his extensive banking experience and fintech expertise to shed light on innovative lending solutions. His extensive involvement as an angel investor and advisor to numerous fintech and technology start-ups positions him as a leading voice in the industry. Join us as we explore the opportunities emerging from the current lending landscape and discuss how innovation can bridge the gap between first home buyers and their dreams of homeownership. We'll delve into the development of alternative lending products and how they can empower those who don't have the luxury of familial financial assistance. Don't miss this enlightening conversation that addresses the pressing challenges faced by home buyers in Australia and unveil the possibilities created by fintech and start-ups in the lending space. Episode Highlights: 00:00 - Welcome 01:19 - Who is Brian Hartzer? 02:58 - How big is the bank of mum and dad? 03:35 - Are older homeowners being overlooked in the borrowing landscape? 06:19 - Reasons why people over 55 want to borrow money 10:20 - What is a reverse mortgage? 12:58 - How does a reverse mortgage work? 14:32 - Reverse mortgages and the difference in interest rates 17:54 - The future of super funds in this space 19:28 - The bank of mum and dad situation 21:58 - The advantages of having a parental guarantee 27:23 - Brian’s take on the current banking industry 32:15 - What’s driving the net interest margin down? 35:27 - Are banks writing loans under the cost of the capital? 40:09 - What’s going on with the banks’ lending to customers? 50:07 - The longest downturn Australia’s had in property prices 55:14 - How Brian feels about the Reserve Bank of Australia 55:56 - Brian Hartzer’s property dumbo About Our Guest: Brian Hartzer is a seasoned executive, mentor, and investor. He was the CEO of the Westpac Banking Group from 2015 to 2019 and has held leadership positions in major banks in Australia and the UK. Brian has also served as Chairman of the Australian Banking Association and the Retail Banking Committee of the British Bankers Association. In addition, he is involved with multiple startups in Sydney as Chairman and serves as a senior advisor to a data science company. Brian is actively engaged in philanthropic endeavors, including being the President of the Board of Trustees of the Australian Museum. He holds a degree in European History from Princeton University, is a Chartered Financial Analyst, and holds dual US and Australian citizenship. Connect with Brian Hartzer: Connect with Brian on LinkedIn: https://www.linkedin.com/in/brianhartzer/ Visit the 2Be Website: https://www.2be.com.au/ Resources Mentioned in the Episode: Listen to Episode 49 of the Your First Home Buyer Guide Podcast - What Can Go Wrong When Borrowing from the Bank of Mum & Dad? (with Barry Frakes) https://www.homebuyeracademy.com.au/podcasts/049 Resources: Visit our website https://www.theelephantintheroom.com.au If you...

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