News archive for September 2021

Having tenants in your property is different from living in it, which is why your home insurance should be different too. The best landlord insurance expands on standard home insurance by offering protection for unique landlord-related risks like tenant damage, unpaid rent and legal liability.

If you’re new to the world of credit cards, you may not be aware of some of the perks you can get with some cards.

Need a car loan to help you fund your first or next set of wheels? But don’t know what a good interest rate looks like? We’re here to help. Right now on the Mozo database, the average new car loan rate is 7.44% and the average used car loan rate is 8.16%. So, if you are receiving a rate that is below average then you are getting a solid deal.

The Australian Prudential Regulation Authority (APRA) is currently weighing up strategies to cool down the nation’s housing market, citing concerns about growing risks to the economy.

Suncorp Bank has announced that new and existing home loan customers who have a solar power system or will have one installed before 31 December 2021 may be eligible to receive a cash bonus from the bank.

With NBN Co shifting its focus towards connecting rural and remote communities to the network, the company says it is primed to help the agriculture industry achieve ambitious growth targets.

What most of us are after as consumers is convenience. Convenience of price, access and use. In other words, if someone is selling a product that's easy to get, use and comes at a good price, chances are we'll buy.

Westpac has confirmed it will be offering low-rate finance to Australian businesses under the Federal Government’s expanded SME Recovery Loan Scheme, which is due to commence 1 October 2021.

The only thing worse than being put on hold is the dreaded hold music you have to listen to while you wait. That is, of course, unless you’re calling Newcastle Permanent!

Switching energy providers will become quicker and easier with new rules coming into play from October 1. With a significant reduction in wait times for customers switching providers, we may also see better energy deals being offered across the board.

Been holding out to buy a car once post-lockdown? Well, it may be time to think about getting pre-approved for a car loan.Not only could this speed up the process of buying a new or used vehicle, it can give you the peace of mind that you have already been approved for lending from a car loan provider. Plus, it can give you a better idea of what car prices you can go for as well as how far you need to go if it comes to negotiating the price.

It’s never too early to start the countdown to the holiday season. And with Christmas and family celebrations top of mind, your next thought bubble might be filled with shopping ideas as sale season approaches.

Due to the growing environmental concerns, lenders have been launching green loans to help customers make their homes more energy-efficient and eco-friendly.

Australia’s top five internet service providers have again banded together to request greater financial relief from NBN Co. The bosses of each provider have joined forces to pen an open letter to NBN Co and the Minister for Communications, labelling their current relief package as inadequate.

In the year to August, CoreLogic estimates there have been 598,000 house and unit sales across Australia.

A substantial rise in subscriptions to sports streaming services in Australia has come alongside a large increase in those who say they support an AFL team. With pandemic restrictions limiting the opportunities for Aussies to see their favourite teams in person, consumers have leveraged their broadband connections to support their clubs.

With the end of lockdown in sight (hopefully) the question of international travel is hot on many Aussies’ lips. And it’s looking like if things go as projected, Australian travellers may be jet-setting around the world in 2022. That means many savvy rewards credit card users may be gearing up to earn big rewards points for their spending up until then. And what’s a good way to earn points in bulk by the time international travel resumes? Bonus points. “Earning rewards points can sometimes seem like a drawn out task, which is true as you need to spend over time to build up enough points to get rewards,” Mozo banking expert, Peter Marshall says.“That’s why taking advantage of a bonus points offer on a credit card during periods of higher spending, such as the holiday season, could be a smart way to give your points earning a boost in time for when travel resumes.”

Earthquakes aren’t all that common in Australia, which is why many were shocked when a quake hit Victoria on Wednesday. The small town Mansfield was at the epicentre of the earthquake and the highest magnitude recorded was 5.9 at 9.15am.

Australian homeowners want to see change to the two-tier system in which many lenders prioritise new mortgage customers over old by way of lower interest rates.

Credit cards are a common and useful way to pay for just about anything incrementally. Many cards also offer extra benefits, such as rewards programs or insurances. That said, credit cards also often come with fees.

New Research shows that internet usage has increased in areas of Australia with COVID-19 restrictions in place, and streaming services have been a big part of this.

Online credit card provider Latitude has recently announced that it will be ditching it’s points rewards programs. The change means card holders of either the Latitude Infinity Rewards Visa or the Latitude GO Mastercard, will no longer be able to earn or redeem points from late November.  Here’s a quick rundown …

Families come in all shapes and sizes, and sometimes family members are four-legged furry rascals that like to scratch the couch. Even with their occasional mischief Australians still love their pets and are willing to spend more money on spoiling their pets than themselves.

When it comes to your finances, being a good saver is crucial. And what goes hand-in-hand with being a good saver? A high interest savings account. So if you are currently signed up with a provider that offers low interest rates (or none at all), it’s time to put your savings account on your spring clean list!

All in this week’s best banking news recap: editor’s pick.

Westpac has made a slew of interest rate cuts to its savings accounts, including to the leading Westpac Life rate for 18 to 29-year-olds. The big bank shaved a sizeable 50 basis points off the rate, taking it down from 3.00% p.a. to 2.50% p.a.*

Getting a pet always seems like a fun idea. Sometimes even a great present for the kids. Who wouldn’t want a puppy or kitten for Christmas?

New research has shown most Australians are happy with the price and speed of their home broadband when compared to similar products in peer nations. Figures featured in the report show Australia has seen the largest improvement in broadband affordability between 13 similar nations between financial years 2018-2020.

In the past 12 months more than 1.2 millions Australians have been scammed, says Westpac research.

Western Australian-based P&N Bank has joined a growing list of Australian lenders offering extra incentives to home loan customers with the launch of a new cashback offer.

While tax season may be well underway, it seems as though not everyone is lodging their returns correctly, as the Australian Taxation Office (ATO) has released some advice for Australians new to share trading and investing.

If you’ve been missing your op shopping fix during lockdown, then the Garage Sale Trail will revive your sustainable shopping spirit.

Australia’s top internet service providers have submitted documents to the Australian Competition and Consumer Commission (ACCC) proposing a restructure of the National Broadband Network pricing model that would see NBN Co take less revenue per customer to drive prices down.

As you use your debit card or mobile wallet to tap and pay for your daily coffee, it’s easy to forget there are numerous costs associated with that simple action (and that you may be paying a small fee for this convenience). But small business owners will understand the financial commitment that comes with operating a cashless payment system.

If you’ve sent money overseas, you’ve probably been very confused about how it all works. To start with, the exchange rate you google is different from the one you end up getting (usually lower). And you can find yourself spending more money than you originally planned because of fees that suddenly appear. Overall, it is never quite clear what you will get until you click send.

Research from RACV has this week revealed Victoria’s most affordable new cars - or at least the ones least likely to burn a hole in your pocket.

An upgrade to electricity networks in Geelong and Torquay to improve bushfire safety and accommodate the region’s population growth will begin site preparations this month. Powercor, a Victorian electricity distribution company, will deliver the upgrades at a cost of $110 million.

Avenue Bank, a digital business bank with plans to shake up the SME lending sector, has been granted a restricted banking licence by the Australian Prudential Regulation Authority (APRA).

When it comes to banks many of us tend to stick with the one we know. At least that was the case until recently - the ongoing global pandemic has forced change upon us. As well as learning new skills and starting new jobs, Aussies have been switching banks too.

The Reserve Bank of Australia will be moving forward with its plans to reduce its weekly bond purchases this month, though it intends to extend the program until at least February 2022.

Plenty has been written about the new trends which have sprung up over the past year and a half, but in the financial realm, it’s hard to look past the meteoric rise in popularity of investing during the COVID-19 period.

Looking for more ways to help out the environment? A great place to start is with your energy bill.

Online shopping jumped 65% in 2020, but Australians also lost $418.9 million to card not present (CNP) cybercrime during the period.

The largest wind farm in New South Wales is due to begin construction at the tail end of this year after reaching financial close. The Rye Park Wind Farm (RPWF) is set to produce 396MW of power with its 66 wind turbine set-up.

There are over 20 million registered motor vehicles in Australia and according to online automotive marketplace Autotrader, 75% of Aussie drivers have purchased a used car at some point in time. However, that’s not to say that we are well-versed in haggling prices. In recent research commissioned by Autotrader and undertaken by YouGov, it was found that 64% of Aussie drivers between 22 and 54 feel very uncomfortable negotiating the price of a pre-loved set of wheels. Plus, 50% of Aussie drivers claim they aren’t very knowledgeable about cars at all.

After going national with their Green Loan, CommBank continues with its zero emissions initiative by offering a green loan for commercial properties.

Quick facts from our report:

Out of 80 MySuper products assessed last month, 13 failed to meet the Australian Prudential Regulation Authority’s (APRA) objective benchmark.

The flowers are blooming, the sun is shining - Spring is here! Which means your daily lockdown walks just got a whole lot brighter, folks. Unless, of course, you suffer from seasonal allergies.

A property’s cost may be affected by the size, shape and location of the land it sits on. Having property with a lot of land doesn’t immediately equal having high property value though. There are several factors that come into play when assessing the land-to-asset ratio. But the most important is location.

NBN Co has announced the next group of suburbs that will be receiving fibre upgrades as a part of their network improvement program. More than 300,000 homes and businesses in the suburbs will become eligible for broadband speeds up to 1000mbps as a result of the upgrades.