RBA won’t be pressured into hiking interest rates

Amidst the increases of interest rates in other parts of the globe, Reserve Bank of Australia governor Philip Lowe slammed calls for an interest rate hike and said the bank would not introduce cash rate changes anytime soon. In his opening remarks at the A50 forum in Sydney, Lowe said Australia does not need to [...]

The problem with getting financial advice from your bank

Next time the friendly bank staff want to help you with your money, consider this: 75% of the advice given to customers wasn’t in the client’s best interests, according to a review of the financial advice offered by the big four banks and AMP by the regulator, the Australian Securities and Investments Commission (ASIC). And [...]

Financial advice conflicts of interest ‘inherent’ at big banks: ASIC

Australia’s corporate watchdog has shirtfronted the country’s biggest financial advisers, who it claims act outside their clients’ best interest as much as 75 per cent of the time when recommending a shift to in-house products. One-in-10 investors were even said to be in a “significantly worse financial position” after following the advice. The review, carried [...]

By |2018-02-02T03:01:43+00:00February 2nd, 2018|Commercial Finance, Home & Investment Lending|0 Comments

Fixed, variable, split – find the right fit for you

In Australia, there are a number of ways to structure your home loan repayments. Finding the best option may save you time and money on your mortgage. Here is some information to help you choose the repayment structure that works best for you. Variable rate loans Variable interest rate loans are all about flexibility. Essentially, [...]

How your bank calculates a business risk

Just like you, banks are in business – and they don’t succeed by making bad deals. When they consider your loan application, they’re calculating the financial risk of entering into an arrangement with you. Let’s break it down. What the bank considers For the bank, financial risk comes down to whether you can repay your [...]

By |2018-01-17T01:26:27+00:00January 17th, 2018|Commercial Finance|0 Comments

How to beat the banks at their own game: use this home loan cheat sheet

WITH interest rates expected to head north this year — and the banks to follow suit — you’ll need to know to beat them at their own game. Online mortgage marketplace HashChing and independent consultancy Digital Finance Analytics have shared their top eight mortgage predictions for 2018. Here’s your very own home loan cheat sheet: [...]

Ten questions to ask a mortgage broker

Using a mortgage broker to help you choose a home loan can save you considerable time and could result in huge savings. However, before you decide on a broker, you need to make sure they’re going to meet your needs. Here are some questions to ask. 1. How long have you been a mortgage broker? [...]

Three questions to ask before you refinance

The home loan market is constantly changing, with new and attractive deals coming up all the time. Refinancing can help you secure a more competitive interest rate, access the equity in your home, add features (such as an offset account) or consolidate your debts, but there are some important questions to consider before you get [...]

By |2017-11-28T02:07:16+00:00November 28th, 2017|Commercial Finance, Home & Investment Lending|0 Comments

Can you improve your borrowing power? The seven key factors when applying for a loan

Queensland first homebuyers have more affordable property to choose from but they still need to have their financial ducks in a row when applying for a home loan. So, with lending restrictions still in play, how do homebuyers of any description improve their borrowing power. Mortgage Choice CEO John Flavell said would-be buyers must understand [...]

Government’s new credit reporting system should be closely monitored

Treasurer Scott Morrison recently announced that beginning in July next year, the Big Four would be required to have half of their credit data ready for reporting, and 100% of their data ready for reporting by mid-2019. By forcing Australia’s biggest banks to share more detailed credit data about millions of customers, the new system [...]

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