35% of Australians are embarrassed by financial situation. Mortgage Choice and CoreData’s Financial Fitness Whitepaper has revealed that a significant number of Australians are embarrassed by their financial situation. 34% of respondents say they feel embarrassed by their financial habits. Furthermore, it revealed that 42% of Australians feel embarrassed by their personal debt, and one…
Here’s another valuable lesson I learned from Wealth Retreat, I bet you wish you were here? I was lucky enough to listen to Finance Strategist Andrew Mirams discuss the current financial environment and what an interesting few years it has been. I would probably argue that finance has gradually become tighter and tighter over the…
In the current property climate, where opportunities abound, the last thing you want to hold you back from securing an additional asset for your portfolio is any restriction on your borrowing capacity. But that is a reality many investors face given the banks heightened wariness around refinancing and tighter restrictions on how much money they’re…
APRA’s decision to remove the 7 per cent floor on home loan serviceability assessments will help take the brakes off Australia’s home loan credit crunch. Previously, APRA made banks check whether home loan applicants could pay their mortgage at a rate of at least 7 per cent. Most banks applied a minimum rate of 7.25…
Banks charged customers an eye-watering $4.19 billion dollars in bank fees last year, according to the latest figures released from the Reserve Bank of Australia. RateCity.com.au analysis shows this equates to $441 per household in bank fees a year. While the overall total fees paid by households is down from the previous year, credit card…
Have you noticed that we are on the verge of a new Economic landscape in Australia? It has been an incredible 12 to 18 months throughout the world and even more interesting Down Under. With the Election out the way, it has provided local markets with a level of certainty that had been lacking, but…
The past decade has certainly been tough for homebuyers. The post-GFC property boom meant many hopeful homeowners all but gave up hope of buying their dream home in their desired area, but in the last year or two, a switch has been flipped. Dwelling values are on the decline, lines of credit have tightened up,…
The end of the financial year is fast approaching and with it comes a hard deadline for important life admin . Here’s a list of 7 things you need to do before June 30 according to the team at Finder.com.au. 1. Check your life insurance cover within your super Many Aussies opt in for life…
One of the biggest boosts to our newly invigorated property markets is likely to be Australia’s surging population. According to the latest Australian Bureau of Statistics figures, Australia’s population grew by 1.6 per cent during 2018 reaching 25.2 million people. The number of births in 2018 reached an all time high of 314,900 – the…
Banks continue to turn their backs on riskier home loans, as the value of new interest-only and low doc loans hit record lows, according to recently released APRA data. APRA’s Quarterly ADI Property Exposures for the March 2019 quarter shows the value of new loans to owner-occupiers fell by 17.6 per cent from the previous…
