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RBA Interest Rate Decision – 4 February 2020

  At its meeting today, the RBA Board decided to leave the cash rate unchanged at 0.75 per cent.   Here an extract from Philip Lowe's Statement here: The outlook for the global economy remains reasonable. There have been signs that the slowdown in global growth that started in 2018 is coming to an end. Global growth is expected to be a little stronger this year and next than it was last year and inflation remains low almost everywhere. One continuing source of uncertainty, … [Read more...]

Why don’t lenders drop my repayments when the interest rate falls?

A question we've been getting a bit lately has been, ‘why didn’t my lender reduce my repayments when interest rates fell last year?’ It's not just a question our clients have been asking either, with the matter discussed at length in the House of Representatives last November.   What happens to loan repayments when the interest rate falls? If you're making Principal & Interest repayments on your loan and your lender announces an interest rate drop, nothing generally happens to … [Read more...]

5 Tips to Prepare for a Property Valuation

Whether you're exploring refinance options or want to release equity to purchase an investment property, a property valuation is a vital part of the finance application process. And just sometimes, the result of this property valuation can stop the process from progressing altogether. Here we look at the different types of valuations a lender may request and suggest a few ways you can prepare for one.   Why does the lender need to do a valuation on my house? A lender is taking … [Read more...]

How to avoid underinsuring your home

With Australia currently enduring its worst bushfire season on record (and Canberra's January hail storm being labelled a "catastrophe" by the Insurance Council of Australia), we want to talk about insurance. Specifically, the issue of underinsurance.  According to a recent report by the ABC, the Insurance Council of Australia has said that more than four out of every five homes affected by bushfires are underinsured.   What does 'underinsured' mean and how does it happen? Being … [Read more...]

Season’s Greetings! Here’s to a prosperous 2020!

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!). Hasn’t the year just flown by? It only seems like only yesterday that the RBA cut the official cash rate for the first time in almost three years. But that was more than six months ago, and the RBA has cut the rate another two times since. Now the official cash rate is sitting at a new record low of 0.75% - and financial … [Read more...]

Q&A Video: 10 Things to do Before Auction Day

What are 10 things you can do to ensure you give yourself the best chance of buying a house at auction?   Watch our short video to find out.     … [Read more...]

Ethical lenders

What is an 'ethical lender'? An ethical lender - also known as a social or sustainable lender - is a lender concerned with the social and environmental impacts of its investments and loans. It’s generally accepted in Australia that an ethical lender is one that doesn't invest in fossil fuels (specifically coal and gas), but there are other ways a lender can be considered to be ethical or sustainable. These may include but are not limited to: Striving for (or attaining) carbon … [Read more...]

Do you consider yourself to be a ‘spender’ or a ‘saver’?

Are you paid weekly, fortnightly or monthly? New findings from Xero indicates that how often you’re paid may influence whether you’re a saver or a spender. Xero has gathered data to explore payday behaviours across the country, and revealed that rushes of 'payphoria' appear to sweep the nation each time we're paid.   Spending big & the payday pinch Xero's findings revealed that one in three Australians spend more on payday than usual, because they believe they work hard and … [Read more...]

Q&A Video: 5 ways to Take Advantage of Low Interest Rates

What are 5 ways you can take advantage of low interest rates?   Watch our short video to find out.       … [Read more...]

First Home Loan Deposit Scheme: it’s all in the details

The dream of buying your first home with only 5% deposit without having to pay Lenders Mortgage Insurance (LMI) may be getting closer, with the Government’s First Home Loan Deposit Scheme due to commence 1 January 2020. Many first home buyers have the ability to make repayments on a mortgage, the problem lies in how long it takes to save a 20 percent deposit. In fact, the Reserve Bank of Australia says that a household saving 15 percent of their income (based on the before-tax median), will … [Read more...]

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