Fixed home loan demand has reached a 31 month high, new figures have revealed. According to recent data from Mortgage Choice, appetite for fixed rate home loans soared for the third consecutive month, with every state enjoying a lift in demand despite the continued rising cost of fixed rates. Mortgage Choice spokesperson Kristy Sheppard said […]
In a recent article in BrokerNews it was stated that banks may be looking to borrowers to improve subdued profit earnings, reported the ABC News. Commonwealth Bank of Australia recently revealed it bounced back from a small decline in profits last year, posting a profit of $5.7bn result this year. Other banks are expected to […]
Finding the right home loan can be a daunting task, especially with so many products on the market, and not to mention the paperwork involved. But with these helpful hints you can make your loan application process a smooth one. Have your documents ready:Lenders have cracked down on their lending policies over the last 24 […]
Just how you manage your debt is no secret thanks to credit history files, so it pays to keep your file in shipshape order if you want success in buying property. Have you ever borrowed money for a car, owned a credit card, or forgot to pay your phone bill on time? Were you aware […]
All the talk prior to the last Federal Election regarding the Mining Super Tax, has made me think, maybe there should be a super profit tax on the banks. The four major banks, last year made a combined net profit of B$21.8. We are talking billions here not millions, then they have the arrogance to […]
I have just come back from a Finance Conference at which two of the guest speakers were economists from ANZ Bank and NAB, and they had interesting comments on how they saw interest rates going over the next 12 months. The NAB economist predicted that the cash rate would increase by 1% over the next […]
The Federal Government has released draft legislation on First Home Saver Accounts for public comment that will allow savings in such accounts to be paid into an approved mortgage after the end of a minimum qualifying period, rather than requiring it to be added to a superannuation account. The change is designed to make the […]
In an article by Ben Abbott from Broker News he had written that Australian major banks may lift interest rates before the next meeting of the Reserve bank board in November, despite the central banks’ decision to hold steady recently, according to Australian Finance Group’s Mark Hewitt. Recently the RBA board held the official rate […]
I recently read that Non- bank lenders are seeking to claw back market share with the reintroduction of high Loan To Value Ratio (LVR) products. Homeloans Ltd recently reintroduced lending of up to 95 per cent LVR after 18 months of tighter lending policies. “Homeloans has made the move back into high LVR lending, at […]
In the BrokerNews there was an article written by Kevin Eddy and it read that seven out of ten refinancers that used a mortgage broker saved money on their mortgage. Mortgage Choice’s latest survey of refinancers has revealed that 45% used a mortgage broker to assist them with their refinancing, and that over half of […]
