Latest Finance News

Call Your Bank And Get A Better Rate On Your Home Loan

Post by Sharat on July 7, 2018 · Under loans · Comments Off on Call Your Bank And Get A Better Rate On Your Home Loan 

It may be a little awkward to have the talk but what you will find that your tears could well end up being one’s of joy instead of sadness. 7 out of 10 Australian mortgage borrowers who negotiate with their lenders over interest rates are likely to be successful in bringing the rate down. Whilst that does sound encouraging, the bad news is not enough Australians are calling their banks to seek a better deal despite the fact that it will save them huge amounts of cash.

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Developers Trying To Entice Young Australians Into Buying Their First Homes

Post by Sharat on June 28, 2018 · Under News · Comments Off on Developers Trying To Entice Young Australians Into Buying Their First Homes 

The hardest thing about climbing the property ownership ladder for a young Australian is saving up for the down payment on their mortgage. One property developer in Western Australia has developed a plan that seeks to make that a problem of the past. The plan launched by Apartments WA is called Preposit and allows young Aussie home buyers to move into their apartment even before they have finished saving for their deposit. Continue reading

Australians Need To Understand The Impact Of Their Credit History

Post by Sharat on June 21, 2018 · Under News · Comments Off on Australians Need To Understand The Impact Of Their Credit History 

Many Aussies simply have no understanding of the term credit history. However, it is critical that they do because it determines the access you have to credit which means it could impact everything from the homes you wish to purchase or the holidays you wish to take. This means you should take the time to better understand it. According to recent polls, as many as 60 per cent of all Australians have never checked their credit report and 30% don’t know there is a difference between their credit score and credit report. Continue reading

Millennials Want Financial Security Just As Much As Any Other Generation

Post by Sharat on June 14, 2018 · Under News · Comments Off on Millennials Want Financial Security Just As Much As Any Other Generation 

ING says the popular perception of millennials as spend thrifts is false and that instead, more than a third are saving up to buy a home within the next three years. That is quite a difference from the image of that generation portrayed in the media which suggests they feel entitled. The ING research suggests that younger Australians looking to purchase a home are acutely aware the of the sacrifices required in order to build enough savings for a deposit. Continue reading

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

Football Fans Travelling To See The World Cup Urged To Protect Themselves With Travel Insurance

Post by Sharat on May 14, 2018 · Under insurance · Comments Off on Football Fans Travelling To See The World Cup Urged To Protect Themselves With Travel Insurance 

As summer approaches in the Northern hemisphere, it’s no secret that Australian football fans are counting down the days to this year’s World Cup. It would appear however that travel insurer Allianz is also busy making preparations for arguably the biggest sporting event of the year. Allianz is seeking to remind Aussie football fans who intend to visit Russia to exercise a little caution before making the journey. The insurer says that the Government of Australia has advised its nationals travelling to Russia to exercise a great deal of caution which Allianz says is a sentiment it echoes. 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

From July Australians With Good Credit Histories Will Be Able To Secure Lower Interest Rates

Post by Sharat on April 28, 2018 · Under News · Comments Off on From July Australians With Good Credit Histories Will Be Able To Secure Lower Interest Rates 

Many Australians experience a shudder when they hear the words ‘credit history’, particularly if they are thinking about taking out a personal loan, applying for a credit card or seeking a mortgage. Everything could change in the near future following the implementation of mandatory Comprehensive Credit Reporting (CCR). From the first of July the big four lenders will be forced to share half of their credit data regardless of whether it is positive or negative. Continue reading