Posts Tagged ‘Bank’
Big bank mortgages vs the smaller lenders
I was recently asked to provide some perspective on whether to use the Big 4 for your home loan, or a smaller lender, by online news outlet The New Daily. Like most things there is no clear-cut answer as it all depends on your circumstances! You always need to consider your own requirements and what…
Read MoreInterest rates set to change for investors
So its been a big week in lending, especially for the investor market. Over the past few years the deals that people could access for purchasing an investment property were the same for people purchasing a home in which to live, but this is about to change. APRA (Australian Prudential Regulation Authority) is the regulator…
Read MoreEntering uncharted interest rate territory
After the most recent reduction by the Reserve Bank in Australia we are now entering into uncharted interest rate territory. Given we have never seen variable home loan interest rates at such low levels, we though it would be useful to show you what this means in dollar terms. Some variable mortgage holders will now…
Read MoreTo fix or not to fix my home loan?
To fix or not to fix, is a question that is increasingly being asked by investors and home owners attracted to the low fixed rate interest loans currently being advertised by banks and non bank lenders. Traditionally, a fixed rate loan offered limited flexibility. Many of the features which are standard on variable rate loans…
Read MoreA little bit adds to a lot, make sure you are not missing out
Some of my colleagues at Smartline were recently involved in an argument about the size of the gap that has opened up between the RBA cash rate and basic home loan rates since the Global Financial Crisis (GFC). During this friendly argument they all decided to have a guess at the size of the “RBA…
Read MoreBanking on procrastination is good for business
We have some positive news to kick off the working year. The RBA Governor has just confirmed that our banks are now able to raise funds at far “more favourable” rates. These savings should see our banks passing on interest rate cuts in the near future. Interestingly, Michael Pascoe (Fairfax Journalist) has a suspicion that…
Read MoreWhy would I use a mortgage broker?
School has returned and the working year for almost everyone is back in full swing, can you believe that it is February 2013 already, soon we will be asking where the year went again if we are not careful. Having returned to work from a good break I have taken the chance to reflect on…
Read MoreDare to dream interest rates could go lower?
When the RBA Board met last Tuesday it decided to hold the cash rate at the current level for another month. Although Australia’s inflation rate appears to be well under control (which could justify a rate cut), the improving global economic outlook has the board wondering if our economy really needs further stimulus. Interestingly, the…
Read MoreEven the major banks are not the same
Recent media commentary has been focused on the lack of competition in the Australian mortgage market but we are seeing something very different. The non majors are fighting back in a big way. In fact, approximately 25% of Smartline’s clients are now choosing these competitive lenders. Smartline’s chart below shows a comparison between the variable…
Read MoreBetter than Internet Banking
When internet banking technology first hit Australia we grabbed it with gusto. Why Australia set records in this area is not completely understood but we suspect the motivation was more about getting “out of branches” than getting into technology. Since then, internet banking has evolved to become more convenient and more secure than ever. So…
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