As read in Mortgagebusiness – Mortgage Choice CEO John Flavell has backed the federal Treasury’s view that credit card providers are exploiting “consumer inattention” to keep interest rates higher than necessary. Mr Flavell said credit card interest rates are incredibly high and can easily become a “money trap” for many consumers. “Our data shows 57.5 per cent of Australian consumers have some form […]

As read in Mortgaebusiness – ANZ expects the Reserve Bank to reduce the cash rate by a further 50 basis points next year, taking it to 1.5 per cent. In a recent research update co-authored by ANZ chief economist Warren Hogan and senior economist Justin Fabo, the bank said that while pinpointing the timing of the cuts is tricky, it is “pencilling […]

Both NAB and ANZ have advised brokers that they now require 30% deposit in the 4680 Gladstone postcode area. The banks have stated that Gladstone is a high credit risk area, which is reliant on mining. I feel this shows a lack of understanding, by the banks of the diversity of the Gladstone Area. If […]

As read in the Aust Broker Online a consumer advocate group has called for greater awareness of the risks associated with payday lending. In light of the Federal Government’s upcoming regulatory review of payday lenders, consumer advocate group Credit Savvy says more needs to be done in raising awareness about the potential negative impact on […]