News archive for April 2017

April 2017

Westpac cuts 1 year fixed home loan rate to 3.99%

Westpac cuts 1 year fixed home loan rate to 3.99%

Despite being one of many lenders who lifted variable rates across its home loan products, this week big bank Westpac reduced its short term fixed home loan rate to just 3.99% p.a. (4.77% comparison rate*).

Low income renters hurt by high Sydney property prices

Low income renters hurt by high Sydney property prices

It’s no surprise to hear that land prices in Sydney have risen almost 11% in 2016, but it’s not just homebuying hopefuls being affected - low income renters are also feeling pressures from high property prices as demand for rental properties outstrips supply.

Car insurance fronting: can I be insured under my parent’s name?

Car insurance fronting: can I be insured under my parent’s name?

It’s common knowledge that Australian car insurance companies reserve the best deals for drivers over 25, so if you’re a young driver looking for some car insurance cover it might be tempting to put your policy under your parent's name - but will you be covered?

ASIC urges Aussies to take their share of $1.1 billion in unclaimed money

ASIC urges Aussies to take their share of $1.1 billion in unclaimed money

When thinking about lost cash the vision of loose change dropped down the back of the couch may spring to mind, so many Aussies may be shocked to hear that as a nation we have a whopping $1.1 billion in unclaimed money from forgotten bank accounts, shares and life insurance just waiting to be collected.

Millennials top list for bad credit card habits

Millennials top list for bad credit card habits

The millennial generation may want to give up paying for their avocado on toast with plastic, after new research by peer-to-peer lender, SocietyOne, found that they’re the worst offenders when it comes to credit card mismanagement.

Surprising things that can increase your car insurance premium

Surprising things that can increase your car insurance premium

You might think that the price of your car insurance premium is determined by things like your age, driving history and address, but according to statements made in a Senate inquiry on the car insurance industry held in Sydney last week, insurers can base their policy prices on random criteria like whether customers are married, the colour of their vehicles, and even the time they submit an application.

Aussies ready to ditch rewards credit cards as value tanks

Aussies ready to ditch rewards credit cards as value tanks

Everyone loves to think they’re getting something for nothing, but according to a recent survey conducted by Mozo, Aussie spenders aren’t that happy with the value they’re getting from rewards credit cards - and for good reason.

Will 40 year home loans become the new norm in Australia?

Will 40 year home loans become the new norm in Australia?

As Australian property prices continue to soar in Australia’s major cities and more and more Aussies retire later in life , over the next few years we could see home loan terms increase from the standard 25-30 years, up to 40 years.

Best travel credit cards for overseas spending in 2017

Best travel credit cards for overseas spending in 2017

Planning to hit the beaches of Bali or wander the banks of the Seine this year? Wherever your wanderlust takes you, you’re going to need a cost-effective way to spend when you get there - after all, those coconut cocktails and buttery croissants don’t come for free.

Your guide to saving money at the Royal Easter Show

Your guide to saving money at the Royal Easter Show

There are a lot of reasons to love Easter - it’s an excuse to get together with family, go away on holiday and eat all the chocolate you can stomach without guilt. But it also often winds up being an expensive time of year, and one of the easiest ways to spend a tonne of cash in the blink of an eye is a trip to the Royal Easter Show.

$2.6 billion peer-to-peer economy booms in NSW after 68% growth

$2.6 billion peer-to-peer economy booms in NSW after 68% growth

The surging popularity of ‘sharing’ services such as Airbnb, Uber and peer-to-peer lender SocietyOne in New South Wales has resulted in a 68% revenue increase in the states’ sharing economy from $1.6 billion in 2014-15 to $2.6 billion in 2015-16.

RBA interest rates in April: what will happen?

RBA interest rates in April: what will happen?

When the Reserve Bank board meets tomorrow for its April meeting, interest rates are largely expected to stay on hold at 1.50% and the housing market is likely to be a major deciding factor.

Bankwest named Travel Credit Card Bank of the Year in Experts Choice Awards

Bankwest named Travel Credit Card Bank of the Year in Experts Choice Awards

Aussies love to travel - but the bill that comes with all those souvenirs, poolside stubbies and French winery tours is not always quite so welcome. That’s why Aussie globetrotters will be glad to hear Mozo’s experts have recently crowned the very best travel credit cards, debit cards and prepaid cards for overseas spending.

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