Banks Revising Their Hardship Policy For Home Loans
Due to the economic down turn, Australia’s major banks are revising their policy for home loan customers that are experiencing financial difficulty. The banks are looking to extend their repayment holiday policy. This means that a customer experiencing financial hardship will not have to make mortgage repayments for the specified term. However, the intrest onRead More
Mortgage Insurance – What Is It?
The cost of lenders mortgage insurance, when it is paid and how each lenders permium differs.Professional Package Mortgage Fees – Special Offer!
Most of Australia’s lenders that offer professional packages for home and investment loans charge an annual fee that includes a wide range of banking services and discounts. These packages are good if you are borrowing over $250,000, require multiple loans, require an offset account and require full banking services. For the month of March only,Read More
GE Money Early Exit Fee Waived
GE Money borrowers will be able to exit their loans without being charged an early exit fee if their loan is less than 5 years has elapsed after the loan was settled. This is also know as the Deferred Administration Fee (DAF) . News came out today that GE Money will not be passing on the recent 1%Read More
Interest Rate and Lenders Rates Update
As we know that the Reserve Bank of Australia cut interest rates by 1%. Analysts are predicting further rate cuts in March and after Easter. How much the RBA will reduce rates will depend largely on global and local economic factors. Most lenders this time round passed on the full rate cut. Whether theyRead More