Are you paying too much for your business finance or home mortgage?

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In Australia we have a competitive finance industry and have a rich variety of finance deals available from many different lenders. Are you confident that you have found the best loan deal on the market? You could well be paying more than you need to for your business or home … Read More

The Reserve Bank has kept its hold of interest rates at 1.5 per cent

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The RBA has decided to keep interest rates at record low for the 25th consecutive month. It stated that it is not concerned by rising home loan rates. “Some lenders have increased mortgage rates by small amounts, although the average mortgage rate paid is lower than a year ago” The … Read More

What are the advantages of using a Mortgage Broker?

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It can be an difficult process trying to find a loan with a competitive rate and conditions that best suit your needs. With so many  lenders in the industry and different loan offerings it is hard to be sure that  you are getting the best deal available that fits your … Read More

Mortgage Brokers increase competition and choice, driving lower interest rates

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A Deloitte Access Economics report released 24 July, 2018 has found that mortgage brokers drive more competitive mortgage pricing, provide valuable services and greater choice for consumers. The average mortgage broker has access to 34 different home loan lenders, and of these they use an average of 10 lenders to … Read More

Research reveals high satisfaction with mortgage brokers

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New independent research has revealed most people who have sourced mortgages through brokers are satisfied with almost every aspect of the transaction. The Finance Brokers Association of Australia (FBAA) commissioned the research project through finance industry researchers MyNextAdvice to gauge the level of satisfaction with clients who had settled on … Read More

Should you use a bank or a finance broker?

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The banking royal commission has drawn attention to some serious problems between the banks and their customers. Evidence to the Royal Commission has shown patterns of illegal behaviour by financial institutions. Last month the corporate regulator ASIC revealed banks and others in the financial services sector would have to refund … Read More

Should you get a variable or fixed rate home loan?

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When you take out a home loan, you normally choose between a fixed interest rate or variable interest rate. With a fixed interest rate home loan your interest rate is locked in for a certain period. For example it could be over 5 years. This means that your loan repayments will remain the same over the 5 year term. … Read More

Westpac has just announced that it will increase its variable mortgage rates.

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It is the first of the big four banks to raise interest rates for all its variable home loans this year, although many smaller banks had already moved to higher rates to ‘offset higher costs’. Scott Morrison the new prime minister says  people who are unhappy with their bank’s decision … Read More

16 tips for property success

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 Ask successful people what they’d wished they’d been told when they were younger. That’s exactly what I did with these successful property professionals and here’s what they said. Kate Forbes – National Director Metropole Property Strategists Invest in yourself first Your best investment by far will always be in yourself … Read More

SOUTH COAST HOUSING PRICES ON THE RISE

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The Illawarra Mercury , 8/3/2018, reports that the South Coast housing market has defied Sydney’s falling trend in housing values. It quotes new data from Domain’s June Quarter 2018 House Price Report which indicates that house and unit prices on the South Coast are continuing to rise, despite predictions the … Read More

The Value of Mortgage Broking

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  The Value of Mortgage Broking, a report by Deloitte Access Economics has just been released. This report demonstrates the value that our industry brings to consumers, lenders and the Australian economy, by driving competition and delivering greater choice and valuable services to the Australians who need them most. The … Read More

Can I make up for bad credit with a high income and down payment?

What’s more important for a mortgage? Income or credit score? It’s not uncommon to find a mortgage applicant with great income, but not a high credit score. Do applicants with high income and large down payments still need bad credit home loans? Mortgage underwriting is completed mainly by software The software evaluates … Read More

Many people are considering their options in view of the Banking Royal Commission

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There have been some alarming revelations about the behaviour of Australia’s Banks coming out of the Banking Royal Commission. It has shattered the myth that the big banks always put their customers first. Time and again evidence has been put forward that shows that the lending practices of some of … Read More

Buyers – and sellers – beware as royal commission exposes banking’s risky business

Hearings reveal more tales of reckless lending by banks – but also show that borrowers will take huge risks to make their dreams come true  Westpac lawyers leave the Commonwealth law courts in Melbourne on Thursday, May 24, 2018. Photograph: Joe Castro/AAP What happened in the banking royal commission this … Read More

The difference between median value and median price

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Understanding the difference between the median sales price and the median value can provide you with useful insights into exactly what is going on in your local property market. The traditional metric is the median sales price. This is the median – or middle – price of all the properties … Read More

Were mortgages more affordable 28 years ago?

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Why it’s worth cutting mortgage costs via cheaper loan

Key retail banking product happenings from the past month

Both variable and fixed Home Loan rates are trending down as providers continue to chase owner occupier borrowers. Investor rates have also been easing, even before last week’s announcement by APRA that the investor loan growth limit would be lifted for those lenders that meet its prudential requirements. American Express … Read More

Statement by Philip Lowe, Governor: Monetary Policy Decision

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Date1 May 2018 At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy has strengthened over the past year. A number of advanced economies are growing at an above-trend rate and unemployment rates are low. The Chinese economy continues to grow solidly, … Read More

How Commonwealth Bank got itself into such a mess

The banking royal commission has been full of horror stories. To some extent this is not surprising. Banks undertake millions of transactions per year so it is hardly surprising that there are some shockers in the mix. The Catholic Church and the Returned Services League have provided similar front page news stories … Read More

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