Found yourself with a little extra time on your hands due to social distancing measures? Slightly worried about meeting your home loan repayments? While the world has changed significantly over the past few months, it’s possible to use some changes to your advantage.
Here’s some promising news for big and small businesses alike: six-month loan deferrals are now available to larger businesses on the condition that they don’t terminate leases or evict tenants for falling behind on their rent due to COVID-19.
This is one article we hope you never have to read. But if COVID-19 has impacted your income to the point where you may need to pause your mortgage repayments, then we’ve broken down the banks’ deferral policies for you.
If your small business is being affected by the coronavirus your loan repayments will be deferred for six months, says the Australian Banking Association (ABA).
The Reserve Bank of Australia (RBA) has cut the cash rate to a record low of 0.25% following an emergency meeting due to the impact the coronavirus is having on the economy.
Homeowners who have had their income impacted by the coronavirus outbreak are being encouraged to seek out hardship options with their lender.
Small businesses all around the world are facing uncertain times. However, rather than shutting up shop until COVID-19 passes, the government is hoping to stimulate SME spending through a raft of initiatives and tax incentives.
First home buyers are throwing themselves into the property market in numbers not seen since 2009.
SME owners concerned about the coronavirus outbreak impacting their cash flow are being urged to talk to their creditors as soon as possible.
The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 0.50% as the coronavirus outbreak impacts global financial markets.
Employers who have underpaid their staff superannuation have been granted a one-off amnesty to make things right, but that doesn’t mean they’re completely ‘off the hook’.
It takes most first home buyers longer than a full working week to house hunt and apply for finance for their ‘dream’ property, according to new research.
Downsizers are tipped to take advantage of ‘the perfect storm’ and get the most out of the property market this year, predicts the national body representing professional buyers’ agents.
Once upon a time you were rewarded for loyalty. But borrowers with older mortgages are typically paying a higher interest rate than customers on new loans, confirms the RBA.
Non-major lenders have started offering another 5,000 slots for the First Home Loan Deposit Scheme, which allows first home buyers to purchase a property with a deposit of 5% without having to pay Lenders Mortgage Insurance.
Tens of thousands of Aussies have an extra reason to love Valentine’s Day this year, with their credit scores set to jump after civil court filings disappear from their credit file.
Properties with high energy-efficiency ratings typically sell for up to 10% more, a review of international research shows.
A question that’s been popping up a bit lately has been ‘why didn’t my lender reduce my repayments when the interest rate fell last year?’
If you’re thinking of taking advantage of the new First Home Loan Deposit Scheme then you better act quick, as thousands of first home buyers will likely rush to apply for the 10,000 guarantees available.
With Australia currently enduring its worst bushfire season on record, we all want to do our little bit to help out, so today we thought we’d discuss the important topic of underinsurance.
Applications for the new First Home Loan Deposit Scheme are now open, with 10,000 guarantees available to first home buyers looking to get a leg up into the property market.
With 2019 drawing to a close, we hope you’re shifting into holiday mode and getting ready to relax and unwind (or, at least, looking forward to a few public holidays!).
Did you know there’s around $1.1 billion owed to Aussie families in unclaimed shares, bank accounts and life insurance? With the festive season just around the corner, here’s how to find some long lost funds for you and your family in less than one minute.
Could you say goodbye to Netflix to take out a loan? That’s one example corporate watchdog ASIC has included in its responsible lending update.
A new web platform described as a ‘dating app but for home-ownership’ says it can help users enter the property market in half the time it usually takes.
The country’s top financial regulators are concerned banks are ‘too cautious’ when it comes to loans for small business borrowers.
Got a pool you’re constantly scooping leaves out of but never use? Or perhaps you’re looking to cool off this summer in the privacy of someone else’s backyard. Well, a new pool-sharing app has just launched in Australia.
Borrowers struggling to stay afloat will be offered greater protection from debt collection agencies under new guidelines being applied by Australian banks.
Small business owners experiencing financial difficulties are often leaving it too late to seek help from a trusted adviser before going bust.
SMEs are set to have better access to finance, with the Australian government making two key moves this month to free-up lending to small business operators.
Predatory payday lenders are profiting from vulnerable Australians and trapping them in spiralling debt, according to a collaborative report by 20 consumer advocacy bodies.
Looking to refinance your home loan? A valuation is a vital part of the process. So today we’ll look at some ways you can help get your home in tip-top shape.
The property price caps in each state have been revealed for the federal government’s new first home buyer scheme. Read on to find out the maximum value of a property you can purchase under the scheme.
Are you paid weekly, fortnightly or monthly? New research indicates that how often you’re paid has a pretty big bearing on whether you’re a saver or a spender.
Got a large, overdue tax debt with the Australian Tax Office? Then best listen up, because certain tax debt information can now be reported to credit reporting bureaus.
You know that infuriating habit the big banks have of failing to pass on the RBA’s cash rate cuts in full? Well, it’s finally triggered the federal government to order an inquiry into home loan pricing.
Got retirement on your radar? A reverse mortgage can help you improve your standard of living during your golden years. Today we’ll look at how some Aussies are using them.
The ‘pendulum may have swung a bit too far’ when it comes to the tight lending standards currently imposed on small businesses, says the Reserve Bank of Australia (RBA).
The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 0.75%. But will the banks pass on the interest rate cut in full to you?
More than one-in-five SMEs are having cash flow problems due to business loans being rejected, according to new research.
Three-in-five prospective first home buyers intend to buy soon with a smaller deposit, rather than wait until they have saved a 20% deposit. So how do they plan on doing so?
Imagine buying your first home with only a 5% deposit and not having to pay lenders mortgage insurance. Well, that dream is one step closer to reality after the government introduced legislation to implement the First Home Loan Deposit Scheme.
Lending to Aussie households spiked 3.9% in July, the strongest growth seen since October 2014, according to the Australian Bureau of Statistics (ABS).
Marge, Marge, the rains are ‘ere! Home prices have recorded their first rise since October 2017, with national dwelling values increasing 0.8% over August, according to the latest CoreLogic report.
Ever been tempted to tell the boss you’re leaving to start your own business? You’re not alone. In fact, more than nine million Aussies dream about becoming their own boss.
How much do you think the average Aussie spends on gifts each month? $20, $50 or 100? (hint: we’re a generous bunch). Today we’ll look at why it’s important to budget for these expenses correctly, rather than succumbing to ‘buy now, pay later’ services.
Ever thought about investing in solar panels for your home? If so, you’ll know it’s a big decision and there’s a lot to wrap your head around. Fortunately, the consumer watchdog is proposing a new retailer code to make solar purchases safer and easier.
Indulgences such as caviar, wagyu beef and the finest bottles of wine shouldn’t count against you when lenders assess your application for finance, a Federal Court judge has said.
One in 10 consumers have switched credit products in the past year, according to new research, with Millennials and women in particular pouncing on offers from small banks, credit unions and building societies.
Businesses that put off paying large tax bills for too long may soon find that the Australian Taxation Office (ATO) has notified credit reporting bureaus.
Good news for mortgage holders this week, with the RBA saying “it’s reasonable to expect an extended period of low interest rates”.
One of the most annoying myths for young homebuyers has to be the smashed avo breaky one. You know – to buy a property you have to forego delicious weekend breakfasts. Well, here are three easy recipes that prove otherwise.
Scams involving identity theft have cost Australians at least $16 million this year, and that figure is likely to be just the “tip of the iceberg”, says the ACCC.
Reckon you could scrounge together an extra $50 each week to pay off your mortgage? If so, latest modelling shows the average household with a $400,000 loan could save $46,992 and pay off their home loan four years faster.
Great news for home buyers – housing affordability is the best it’s been since 1999, according to new data released by the nation’s peak housing and building body.
Whenever the Reserve Bank of Australia (RBA) changes the official cash rate we all hear about how it will impact home loans. But it affects many other areas of finance and the economy, which we’ll look into today.
The Reserve Bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 1%. Yep, that’s right, back-to-back rate cuts within just one month.
Backyard cricket pitch not getting much of a workout these days? Sick of your weekends being taken up with mowing and gardening? Installing a granny flat could be a lucrative solution – boosting the value of your home by 30% and adding around 27% to rental income.
Yes, we’re well aware that this may sound like an oxymoron to some! But cheeky jokes aside, this is a question we’ve been increasingly receiving. So today we thought we’d look into what good corporate social responsibility means, and how you can find it in a bank.
‘Are we there yet?’ That seems to be the million dollar question on everyone’s lips. Today we’ll take a look at whether or not the property market is finally starting to stabilise, as well as when we might start seeing some positive changes in the market.
Superannuation changes are afoot, and time is running out this financial year to take action. Here’s what you need to know about your superannuation account ahead of the EOFY deadline.
Tax time is just around the corner, which means ATO impersonators are pulling out their bag of tricks to try and scam you. Here are the main scams currently doing the rounds.
The RBA has cut the official cash rate to a new record low of 1.25%. But hang on a sec… Will lenders even pass on the cut in full? Today we’ll look at how you can make the RBA rate cut work for you.
Self-managed super funds (SMSFs) have become an increasingly popular choice in recent years due to the control and flexibility they can offer. Today we’ll take a look at why that is, as well as some interesting stats the ATO has gathered on them.
They say that home is where the heart is. And it’s true that we spend so much of our time, money and emotions in our homes. So it can be hard to truly look at them and think that something could be wrong.
No doubt, like most, you’re suffering from a bit of election fatigue. But stick with us – here’s one last article that explains what you can expect from the 46th parliament of Australia.
Here’s a bit of good news: you may be able to borrow more for your next home loan after the prudential regulator sent a letter to the banks asking them to relax a key lending criteria.
Did you know that it takes four to seven years for the average household to save a 20% deposit for their first home and avoid paying lender’s mortgage insurance? However, a new scheme promises to drastically reduce that time by dropping the required deposit to just 5%.
‘Adulting’ is a real thing. It has even made it to the Oxford dictionary where it’s defined as “behaving in a way characteristic of a responsible adult, especially the accomplishment of mundane but necessary tasks”.
Most of us have found ourselves in a sticky situation where we’ve spotted an unauthorised or mistaken transaction on our bank account or credit card statement. Here’s how to avoid footing the bill.
