How much do you need to borrow to buy a typical Australian home these days? Well, the average loan size has increased dramatically over the past year – up almost $100,000.
Homeowners nearly four years ahead on their mortgage repayments
Australian homeowners are loading up their offset accounts in record amounts, so much so that the average household is almost four years ahead on their mortgage payments.
Bar raised for borrowers: tougher home loan serviceability tests
Some borrowers will soon find it harder to get a mortgage after the banking regulator announced tougher serviceability tests for home loans. So who will they impact most?
How much extra will your mortgage cost when interest rates rise?
After 18 straight RBA cash rate cuts it can be easy to dismiss the notion that interest rates might rise again. But if the cash rate returned to mid-2019 levels, how much extra would an average new mortgage holder expect to pay each month? Let’s take a look.
Fixed mortgage rates set to rise in coming months: experts
House prices could jump 17% in 2021 and mortgage rates are set to rise much sooner than expected, ANZ Bank has tipped.
Responsible lending laws to be axed: what that means for you
You might have recently heard that ‘responsible lending laws’ are set to be scrapped early next year. Rest assured though that you’ll still be able to borrow responsibly. Let us explain how.
Lenders begin contacting borrowers who have deferred loans
If you’ve deferred your home or business loan then it’s likely your bank will reach out to you in the coming weeks. Here’s what to expect and what options are available to you.
Loan deferrals to be extended for customers who need extra breathing space
Home and business owners struggling financially due to COVID-19 will be given another four months to resume paying back their loans.
Bank loyalty can cost existing borrowers: ACCC report
Loyalty is an admirable trait when it comes to our friends, family and loved ones. But if you’re extending that virtue to the banks, then there’s a good chance it’s costing you thousands of dollars.
Goodbye stamp duty?
The dreaded and controversial stamp duty tax could soon be a thing of the past, with calls for it to be abolished gaining momentum.