loans

Personal Loan Home Truths

Post by Sharat on June 7, 2018 · Under loans · Comments Off on Personal Loan Home Truths 

Personal loans are probably the cheapest way to borrow money. Not only do they allow you to fund big purchases or expenses, you can use them to consolidate outstanding credit card debt and establish a good credit history. You should be aware though, that not all personal loans are created equal and borrowers tend to misunderstand them. Here are a number of myths surrounding personal loans that you should not be believed. Continue reading

Australians Burying Their Heads In The Sand When It Comes To Mortgage Rates

Post by Sharat on May 28, 2018 · Under loans · Comments Off on Australians Burying Their Heads In The Sand When It Comes To Mortgage Rates 

Despite the central bank holding the official cash rate steady at 1.50% for the last 19 consecutive months Aussie borrowers are being hit with higher interest rates on their mortgages. Whilst existing borrowers are suffering from rising interest rates, people looking to finance a new home have seen some great offers. What that means is that if you are a loyal banking customer, you are probably missing out on lower interest rates because you have chosen not to switch your lender. Continue reading

ANZ Reviewing Its Car Loan Business And May Exit The Space Entirely

Post by Sharat on May 21, 2018 · Under loans · Comments Off on ANZ Reviewing Its Car Loan Business And May Exit The Space Entirely 

At the end of last month Australian banking major ANZ suspended making retail asset-based loans as it seeks to determine whether the rising costs of this type of lending is worth the return the bank makes. This means people looking to borrow to finance the purchase a car, boat or caravan will be fresh out of luck, though ANZ will continue to make personal loans. ANZ expects the review to be complete by the end of September and adds that existing borrowers will not be affected by its decision. Continue reading

Australian Banks Expected To Start Hiking Mortgage Lending Rates

Post by Sharat on May 7, 2018 · Under loans · Comments Off on Australian Banks Expected To Start Hiking Mortgage Lending Rates 

ME, the online lender has decided to raise the interest rate on its variable rate mortgages because it says funding costs have risen. ME is not the first bank to do this, nevertheless the lender hiked its standard variable rate for owner-occupier, principal and interest borrowers. Jamie McPhee CEO of the online lender said higher funding costs and increased regulatory compliance were the main reasons behind its decision to hike rates. Continue reading

NAB Cuts Variable Mortgage Rates

Post by Sharat on April 14, 2018 · Under loans · Comments Off on NAB Cuts Variable Mortgage Rates 

NAB has introduced a new variable interest rate owner occupied mortgage product with an interest rate starting at just 3.69% for customers who choose to make both principal and interest payment. This new offer is just the latest in series of sharp cuts in interest rates as banks battle to acquire new customers. NAB also followed the lead of CBA and ANZ in cutting interest rates on fixed home loan rates as well. Continue reading