Don’t fear the financial cliff. We were initially told that Australia’s economy is heading for a financial cliff when government subsidies were to be cut back from September. Remember…home loan repayment holidays were also set to stop in September but then the banks have extended them to March for customers still suffering a cash crunch….
A whopping 83% of mortgage holders would like to change lenders, but can’t and are therefore “mortgage prisoners” according to a new report by Mozo. Here’s the problem: while 38% of people intend to make the switch, 45% are unable to due to limited earnings and therefore paying a premium to own their property. Quick…
From buying a home to bankrolling holidays, the “Bank of Mum and Dad” remains open for business according to new research. Most adult kids fly the nest eventually, but for many, financial support from their parents remains ongoing. Finder research shows that almost half (44%) of Australian parents help their adult offspring out with expenses….
We’ll be glad to see 2020 behind us, but at least more Australians are putting their credit card debt behind them at the same time. According to the latest credit and charge card data released by the Reserve Bank today Australians have wiped a staggering $7.31 billion off personal credit card debt this year. Over…
How has the pandemic induced recession affected you? Clearly many people and many businesses have, and still are, suffering. But at the same time more Australians have stashed more of their cash in the banks. They have rapidly amassed close to $100billion in total savings as a buffer against the COVID-19 recession. Household deposits with…
What’s going to happen to interest rates next Tuesday – on Cup Day? Experts are predicting that the Reserve Bank of Australia (RBA) will announce a second rate cut for 2020 at the final meeting of the year. In this month’s Finder RBA Cash Rate Survey™, 43 experts and economists weighed in on future cash…
Have you been waiting for a sign to enter the property market? I speak with many investors who want the waters to be “just right” before they dive in. I understand their reasoning and it is probably even more understandable given the year we have had! But, I believe the right time is when you…
Christmas might be coming early for thousands of borrowers with a home loan. An October 2020 Finder survey of 968 Australians with a home loan found 1 in 3 (34%) will refinance over the next year. With 2.9 million mortgage holders in Australia according to ABS census data, that’s nearly 1 million (986,000) Aussies intending…
Anyone who has been in the property investment sector for a while knows all too well that it takes a long time to understand its golden rules. If only we all understood them when we were in our 20s, instead of many years later. Of course, these days, there are a plethora of books, blogs…
For many coming out of Lockdowns around the country, who wouldn’t be attracted to the sun, sand and surf that is the Queensland coast? I know many seaside locations that are fast becoming the destination of choice for many. You only need to pick up a paper or check a property market headline to see…
