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NEWS
14/03/2017
The Reserve Bank has flagged throwing more “sand in the gears” of the housing market, as runaway price rises in Sydney and Melbourne renew bubble fears. The most recent home value indices put annual price rises in Sydney above 18 per cent, Canberra at 15 per cent and Melbourne more than 13 per cent. Those price gains are being driven by a surge in property investment, with Bureau of Statistics figures out on Friday showing that new investor lending grew […]
14/03/2017
JOB security is chief among the concerns of Australian mortgage holders, with new research revealing 41 per cent of families fear they may not be able to service their home loan if their employment situation changed. Loan protection insurance provider ALI Group commissioned the survey of 1000 Australians to identify the main concerns people have around their mortgage and found job security caused sleepless nights for 36 per cent of all mortgage holders. Single workers with kids were more worried […]
14/03/2017
INTEREST rate rises will be on the minds of many in the world of finance this week, but Australian home buyers should be safe, for now. Economists and analysts believe the US central bank is almost certain to increase its official interest rate when it meets midweek, possibly the first of four rate rises for the world’s largest economy. However, Australia’s Reserve Bank — which left its official rate unchanged at 1.5 per cent last week — is widely expected […]
14/03/2017
AUSTRALIAN property investors are set to be hit again as the nation’s largest bank tightens the screws on investment lending. Investors will be forced to stump up larger deposits to buy property after the Commonwealth Bank revealed it would reducing the maximum loan-to-value ratios from 95 to 90 per cent. This means borrowers must have a 10 per cent deposit instead of five per cent which was previously allowed to buy an investment property. This means for a $300,000 property […]
12/03/2017
NEW rules affecting every Australian applying for credit cards, loans or mortgages will soon kick in, but most people don’t even know about them. That’s the warning from credit rating bureau Experian, which says two thirds of Australians are unaware of looming changes to national credit reporting requirements that will enable lenders to see a lot more information about a customer’s financial history. At the moment, lenders only share negative data, like defaults and bankruptcies. But under amended privacy laws […]