Beware Current Bank Offers!

2 March 2011

The banks are at war with each other! Each major bank is offering some type of incentive for consumers to switch from their current lender. Offers such as cash rebates, discounted interest rates, exit fee payments, iPads, TVs etc. Behind these offers there is always devil in the detail and before making a change it is [...]

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Is Commonwealth Bank the Bad Guy?

15 November 2010

When Commonwealth Bank came out with a 0.45% interest rate increase, 0.20% higher than the Reserve Bank interest rate increase, the media, politicians and the public were enraged. Having taken the brunt of the bad publicity most of the other banks and smaller lenders have also followed suit. As each lender announces their interest rate [...]

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RBA Increases Rates by 0.25%, CBA by 0.45%

3 November 2010

In a surprise move to economists the RBS increased interest rates by 0.25%. An hour later in not a surprising move the Commonwealth Bank increased their home loan variable rate by 0.45% angering their customers and politicians. It will be interesting to see if the other banks will follow and if history is a good [...]

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Fixed Interest Rates Are Dropping

31 August 2010

The Reserve Bank of Australia meets in the first week of September to assess whether interest rates remain on hold or increase. Many economists are predicting that rates are likely to remain on hold. While the variable mortgage rates are likely to rise or remain on hold, fixed rate loans are currently falling. Some of [...]

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ING DIRECT – Advantage Home Loan & Investment

16 August 2010

Today ING reduced the interest rate on its Orange Advantage product by 0.80%. This effectively brings the interest rate to 6.71%.  This is available for new and existing customers who initially  borrow more than $300,000. This product is the first from ING Direct that offers a 100% offset facility that acts like a transactional account. [...]

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Low Doc Loans – Could this be the end?

13 August 2010

Low doc lending over the last 18 months has tightened significantly. Lenders are increasingly making it harder for self employed borrowers who do not have full financials to borrow. Some of the new changes of low doc loans are as follows; 1 year BAS statements required for loans that borrow between 60 and 80 percent of [...]

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