One in four big bank customers have left or intend to leave after failure to pass on rate cuts

From

New research from comparison site Mozo has found that a whopping 70% of Australians do not trust the big banks, with half of that number losing confidence after their failure to pass on recent rate cuts. One in four big bank customers have left or intend to move to a non-four lender, equating to roughly […]

continue reading

Household Capital offers lowest rate reverse mortgage in Australia

From

Household Capital, an independent, specialist retirement funding provider, yesterday announced it will further reduce its interest rate, passing on today’s RBA rate cut in full. Household Capital has reduced its interest rate in line with each of the three RBA rates cut this year. Lowest rate for home equity access Household Capital’s innovative approach to […]

continue reading

SQM Research releases its 2019 Australian Mortgage Trusts Sector Review

From

As part of its annual domestic mortgage trust sector review, SQM Research has released a sector report covering 12 recognised Australian Mortgage Trusts. Managing Director of SQM Research, Louis Christopher said, “Australia’s mortgage trust sector has continued to record rapid growth over the past 12 months. We estimate the rise has been some 61% taking […]

continue reading

Want to increase your borrowing power by $100K?

From

Many first-home buyers just can’t quite afford the property they want in Sydney and Melbourne. People seeking to buy in the inner-city suburbs that are well serviced by public transport should think about ditching the car. “Maybe your car commitments are stopping your home aspirations. A relatively small car debt limits the extra capital that […]

continue reading

Labor’s negative gearing policy – A market update

From

SQM Research, Australia’s most recognised property investment research house, yesterday released a report into the likely housing market effects of The Labor Party’s proposal to change negative gearing, taking into account current housing market conditions. This research is an update on its initial paper released in June 2016 – a time when the housing market […]

continue reading

Resimac supports ‘Don’t Kill Competition’ campaign

From

Leading non-bank mortgage provider Resimac has confirmed its support of the nationwide ‘Don’t Kill Competition’ campaign launched by the Mortgage & Finance Association of Australia (MFAA) to oppose a proposed ban on all mortgage broker commissions paid by lenders to brokers.  The final report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, […]

continue reading

First-home buyer numbers surge

From

Housing finance Number of home loans: The number of loans (commitments) by home owners (owner-occupiers) fell by 0.9 per cent in November after rising by 2.1 per cent in October (the largest gain in 12 months). First home buyers active: The proportion of first-time buyers in the home loan market rose from 18.1 per cent in October […]

continue reading

Over $5m in super released for first home buyers scheme

In the period from 1 July 2018 to 6 August 2018 taxpayers have made 1,449 requests to the ATO under the first home super saver scheme, FHSS. These are called FHSS Determinations to enquire as to the amount which can be currently released under the scheme. Requesting an FHSS Determination does not amount to a […]

continue reading

So, what happens when your interest-only loan expires?

From

Borrowers need to be ready for the cash flow effects of moving from interest-only loans to generally higher repayments on principal & interest loans. Omniwealth Finance suggests that borrowers work through its Interest Only Loan Expiry Checklist to ease the cash flow squeeze. Interest-only options on home and investment loans have a limited life span, […]

continue reading

Debt free equity release continuing to be a popular alternative to Reverse Mortgages

From

A review released this week by ASIC into the reverse mortgage market in Australia, has drawn attention to the need for safe and certain equity release solutions for older homeowners. Homesafe Solutions Pty Ltd, the provider of Homesafe Wealth Release®, the only competitive alternative to reverse mortgages in the equity release sector, welcomes the report’s […]

continue reading