loans

It’s Time For Australians To Shop Around For Home Loans

Post by Sharat on December 7, 2018 · Under loans · Comment 

According to research, Australian borrowers who continue to stick with the big four lenders despite the hike in interest rates could end up missing out on saving more than $2,000 a year. When this figure is combined Australians could end up missing out on saving a whopping $7 billion in annual interest payments or $19 million a day. Over the last few months ANZ, CBA, and Westpac have all raised their variable home loan rates in response to rising funding costs. Continue reading

Second Hand Car Loans Make Car Ownership Affordable

Post by Sharat on October 28, 2018 · Under loans · Comments Off on Second Hand Car Loans Make Car Ownership Affordable 

According to the latest research, Australia appears to be a nation of second-hand lovers with over 90 per cent of the population having purchased at least one second item at some point in their lives. The research suggests that 100 million items were sold on Gumtree over the last year, with 43 per cent of buyers claiming they saved as much as 50 per cent off the purchase price of the item were they to have bought the item brand new. Continue reading

Low Interest Personal Loans Can Be Used To Consolidate Debt

Post by Sharat on October 21, 2018 · Under loans · Comments Off on Low Interest Personal Loans Can Be Used To Consolidate Debt 

According to the latest data, nearly half of all Australian credit card holder say they find it difficult to make payments that exceed their minimum monthly repayment on their outstanding balance. Not only do these borrowers struggle to make the minimum payment they also seem to be unable to pay down their debt during the interest free period. An ASIC report published recently found that the total outstanding credit card debt in Australia is $45 billion. Continue reading

Mortgage Lending Criteria Tightened Leaving Many Borrowers In A Pickle

Post by Sharat on September 21, 2018 · Under loans · Comments Off on Mortgage Lending Criteria Tightened Leaving Many Borrowers In A Pickle 

As variable home loan rate changes have been made, it should come as no surprise that many Australians are rethinking their existing mortgage. Thousands of property owners in the country are set to become so called “mortgage prisoners”. This is when a homeowner cannot obtain refinancing because they no longer meet their mortgage lender’s lending requirement even if they have made every repayment on time.

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Mortgage Borrowers Should Think About Switching To Fixed Rate Home Loans

Post by Sharat on September 7, 2018 · Under loans · Comments Off on Mortgage Borrowers Should Think About Switching To Fixed Rate Home Loans 

Over the last few months mortgage lenders have been raising their variable rates and passing on increased funding costs to borrowers. Many banks have lifted rates already and more are expected to follow. Experts say the cost of obtaining funding pretty much affects every lender in the market, so it is no surprise that rates are rising across the board. This means even if you borrowed from a big bank, you shouldn’t expect they will sit tight whilst every other lender seeks to manage the increased costs. Continue reading