News & Articles, Loans & Lenders
Bankers, insurers help Queensland business owners with 'relief packages'
The Australian Bankers' Association (ABA) says individual banks are offering emergency relief packages to those customers affected by the floods in NSW and Queensland and other areas.
Forty is the year of living dangerously, Suncorp Life study finds
FORTY is the most dangerous age for Australians, blasting the commonly-held belief that adolescents are the biggest risk takers, according to a new study.
One million angry mortgage-holders want to switch banks
A MILLION Australians with mortgages have started looking for a new financial institution as dissatisfaction with the major banks peaks
The days of easy credit are at an end
THE days of easy credit are over, with lenders make it tougher to borrow money, and consumers struggling with mounting debts, credit agency Dun & Bradstreet says.
One million may quit mortgage deals: poll
Nearly one million mortgage holders are looking to dump their current lender within the next six months, according to new research.
Ditch the big four banks, Choice urges
BORROWERS and financial services customers are being urged to ditch Australia's big four banks and seek out better deals with smaller lenders.
Short-term gain only in removing exit fees
THE removal of exit fees may bring short-term advantage to customers who want to change banks, but is likely to make banking less competitive over the medium term.
Refinancing your loan is a great way to access more competitive interest rates, better customer service and a product that more closely matches your needs. But when it comes to tinkering with your mortgage, there is definitely a right way and a wrong way to go about it.
Gen Y on banking: Big brands are better
BIGGER is better is the prevailing attitude of younger Australians when they look for a financial institution.
Big four continue tale of dominance
Australia’s big four continue to dominate the mortgage market, new research has found.
More Aussies switch banks to avoid fees
What do we want? Lower fees and better access to ATM networks. When do we want them? Now!
Consumers unsatisfied with banks
An extensive study of consumer experience outcomes has found Australian consumers are largely unsatisfied with their banking experiences.
Banks sit on record holdings as wary consumers save
THE war for deposits has prompted Australians to save more than ever, driving the money on call at banks to record levels.
SME's struggle with credit access
Access to credit has become the biggest threat to growth in the small to medium business (SME) sector, new research shows.
Bank workers stressed by peddling debt and worried for customers
BANK workers are suffering high stress levels caused by the pressures of meeting sales targets and feeling unable to provide good customer service, a survey has found.
Checking your credit report can improve chances of getting a loan, says agency
WHENEVER you apply for a loan your financial institution will look at your credit report but research suggests more than 80 per cent of Australians have no idea what that document says about them.
Mortgage protection critical: brokers
More than 85 per cent of brokers believe it is critical to offer their clients mortgage protection insurance, new data from ALI (Australina Life Insurance) Group has found.
The debt crisis in Greece could increase borrowing costs for Australia’s banks.
The debt crisis in Greece could increase borrowing costs for Australia’s banks.
Banks must slash home mortgage exit fees
BANKS will be forced to slash excessive home mortgage exit fees as part of a joint crackdown being planned by regulators and the Rudd Government.
Consolidating debt could save a bundle but there are risks
FOR borrowers struggling with a range of debts such as credit cards, personal loans, car loans and store cards, consolidating them into a mortgage could save a fortune.
Resolving a dispute with your bank
Step 1 - Be clear about what the problem is Step 2 - Start at your local branch Step 3 - Move onto headquarters Step 4 - Keep making payments Step 5 - Turn to outside help
Banks paying more to borrow money - Ralph Norris
BANKS are paying more to borrow money and the trend will continue, says Commonwealth Bank chief executive Ralph Norris.
Brokers pip banks in customer satisfaction
Mortgage brokers are beating the banks in overall customer satisfaction, with the majority of customers stating they would use a mortgage broker in order to have a reliable point of contact and get the best product for their needs.
Banks will cut back on home loans
Growth in demand for business credit will force the major banks to reduce their high exposure to the residential mortgage market, a new report has found.
Customers unwilling to switch despite dissatisfaction
Despite the availability of cheaper mortgage option in the market, many borrowers are staying with their lenders due to barriers such as exit fees and perceived difficulty in the switching process according to a new report.
100pc home loans a thing of the past
BANKS and other lenders have ditched their boom-time no-deposit home loans, despite a huge surge in new demand from would-be borrowers.
New research puts case for risk insurance
The importance of brokers offering clients the option to take out risk insurance has been brought home by the findings of a new report on underinsurance.
Ten ways to check on your credit
WE all have a credit record that collects data about us, but few of us know what it says or what is allowed to be shown.
HOMEBUYERS and investors have nearly doubled their borrowings over the past five years, figures show.
Investor activity ramps up as first homebuyers retreat
Property investors took advantage of the dwindling number of first homebuyers in the market by lifting their stakes.
Credit ranking worth the research
AUSTRALIANS may be among the best in the world when it comes to being financially savvy and shopping around for the best deals, whether it be for credit cards, homes loans or a term deposit.
According to TNS' latest customer statisfaction report, 73.9 per cent of business banking customers were satisfied with their relationship with their main financial institution. However, satisfaction with the majors managed to drop by a combined 6.7 per cent.
FOR too long, banks and other lenders have judged your credit risk based on failed applications and defaults, but that is changing.
Investor loans surge as first homebuyers head for exits
Investors have become the main driving force of the property market following a mass exodus of first homebuyers.
Banks in battle for deposit cash
THERE is some fierce competition going on between lenders in the deposit market and consumers are the big winners.
Kohler: Big banks to dominate "for years"
Australian banks are in a "sweet spot" that will last for a "long time" according to Alan Kohler, author of investment newsletter, The Eureka Report.
Time to get smart with your finances
With lenders tightening their lending policies and far greater expectations now being placed on borrowers, now is the time to get your financial house in order.
Big four to ramp up business lending
The big four banks are gearing up to lend more aggressively to medium and large businesses as the economy shows signs of recovery according to The Australian Financial Review.
Lenders given more investigation powers
Lenders have been given the ability to conduct a more thorough review of a borrower’s repayment history.
Buying property with friends and family
CAN'T afford to buy your own home? You might consider buying a house or apartment with your best friend, sister or brother.
Banks may raise mortgage rates: ANZ
Australia and New Zealand Banking Group (ANZ) chief executive Mike Smith has warned borrowers that the banks may have to raise mortgage rates due to higher funding costs.
Mortgage brokers come out on top: Index
The latest Bankwest/Mortgage and Finance Association of Australia (MFAA) Home Finance Index has revealed that people who use mortgage brokers are more satisfied with their home loan than those that deal direct with a bank and non-bank lender.
Mortgage deals go begging as borrowers lose out
MORE than half a million Australian homeowners are paying nearly $1 billion a year in unnecessary interest because they failed to negotiate the best deal on their home loans, the Sunday Herald Sun can reveal.
Non-bank lenders lose slice of mortgage pie
NON-BANK lenders have seen their share of the home loan market slashed by two-thirds in the past year as the global credit crunch funnelled borrowers back to traditional mortgages.
Borrowers could face higher borrowing costs as the big banks’ high proportion of loans to deposits puts their credit ratings at risk of a downgrade.
Lenders face jail for giving loans that can't be paid
MORTGAGE brokers and lenders face jail or hefty fines if they place borrowers in unsuitable loans they cannot repay, and for the first time they will be forced to obtain a credit licence, under a planned government crackdown.
Access denied: tougher lending rules
NO-DEPOSIT home loans are officially dead and an increasing number of lenders are insisting borrowers produce "genuine savings" on top of the first-home owners grant to qualify for a loan.
Ruthless lenders can be your ruin
Small business owners on the brink of defaulting need to be careful not to lose the lot if they go belly-up.
Lending standards to shield Australian market
Low interest rates and the larger first home buyer grant are unlikely to lead to a US-type property market disaster, according to the RBA.