Before we dive into things this month I just want to highlight a couple of great offers available at the moment; the first is a variable loan with an interest rate of 6.45%, the other is a 3 years fixed rate loan at only 5.99%. Competition is still high and...
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Category Archives: Newsletter
You can’t lose with property right?…
I know we’ve been going on about the ‘lending war’ quite a bit [ie. banks cutting variable rates to 6.75% & 3yr fixed rates from 6.29%] so we thought we’d turn our attention to the Adelaide property market this month. Let’s not beat around the bush, the property market is...
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Why they want you so bad!…
There’s a battle going on out their in the finance world and it’s you they are after! This week the Commonwealth Bank vowed to beat the home loan rates of its rival majors for the duration of the month. The bank has issued a guarantee that it will beat any...
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Rates slashed as the banks go to war…
If you have a home loan at the moment, it might just be the best time in 20 years to be looking for a better deal! There’s a price war going on as the major banks aggressively cut deals on rates and fees to win new lending business and shut...
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Exit fees gone, property declines, rates cut by 1%?…
Well it’s official. Despite last ditch efforts to overturn the ban, the government-proposed ban on exit fees for all residential home & investment loans came into force on July 1st. To recap, this ban outlaws the imposition of any exit fees, or fees charged by lenders upon termination of a...
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Mid-year property & finance update…
We’re almost at the midway point of 2011 so let’s take a look at where things are at in the world of property and finance… Property Market: The South Australia property market is flat at best, with prices retracting in the majority of areas. There’s no doubting it is a...
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Are we heading towards a property crash…
Australia’s housing market has slowed in recent months amid faltering auction clearance results, slumping new home loans and falling home prices. ABS figures for the March 2011 quarter show loan volumes dropped by 3% in Adelaide while house prices fell by 1%. That’s the technical stuff but what does it...
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Loans to become more expensive while 1 in 5 struggle…
The government’s focus on ‘competition’ appears to have done little to help the non-banks. The latest data from the Australian Bureau of Statistics [ABS] showed the nation’s smaller lenders continue to lose ground on the majors. In fact, Australia’s banks accounted for 90.2 per cent of all housing loans transacted...
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Things aren’t always what they seem…
Last month we looked at the ‘bank stoush’ and concluded it amounted to nothing more than good old fashioned one-upmanship. As a consumer you could be mistaken for thinking the banks had experienced a change of heart and were genuinely looking out for you. However we pointed out that while...
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Say hello to bickering banks and goodbye to credit card debt…
It appears that competition between the top four banks is at levels not seen for years. NAB began the battle with its ‘break-up’ campaign, targeting its rivals’ mortgage customers by announcing that they would pay the $700 mortgage exit fees for customers who moved their home loan to the bank...
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Don’t let rising interest rates get you down…
Analysts are forecasting interest rates to rise by at least 1% by the end of the year. At which point the average variable rate would have climbed to around 8.2-8.5% – pre-GFC levels! If you’re concerned about rising interest rates rest assured you do have options at your disposal. Currently...
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2011 could be your best year yet…
It’s certainly been an interesting year for all things finance and property related. We saw the cash rate increase from 3.75% to 4.75% as the RBA raised interest rates a total of four times in response to Australia’s growing economy. We were also witness to the power of big banking...
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