News Archive for January 2022

These days, Aussies have more choice than ever before when it comes to borrowing money, and as everyone searches for faster, easier ways to control their finances, online lenders are emerging as real challengers to the big banks.

For most Australians, taking out a home loan will be the biggest financial decision they can expect to make. As property prices rise over time, homebuyers must borrow more and more to enter the housing market and save up more and more for that critical first home loan deposit.

Maximising your time off from work using annual leave is something of an art-form in Australia. But making the most of it requires a bit of thinking ahead.

Aussie borrowers looking for lower rates, faster approval processes and flexible lending terms are deserting the big banks in earnest for more competitive lenders. But with so many different options available, which rival lenders really stand out from the pack?

As we wave goodbye to the tumultuous year that was 2023 and welcome 2024 with open arms, it's the perfect time for a fresh start, especially in our financial lives.

Online lenders are back with a roar, taking on the banks with competitive low rates and responding to consumer demand for faster, more efficient approval and funding processes for home loans, personal loans and even business loans.

If saving money on your home loan in 2023 is what you’re after, then you've come to the right place. Discovering a great value home loan could mean the difference between tens of thousands of dollars saved in interest over the course of your loan, but in practice it can be hard to find the best option amongst the dozens of different lenders and rates on the market.

These days, Aussies have more choice than ever before when it comes to borrowing money, and as everyone searches for faster, easier ways to control their finances, online lenders are emerging as real challengers to the big banks.

2023 is shaping up as the year of the online lender, with rising rates driving borrowers away from the big banks and a whopping six in ten borrowers in Australia now considering low cost loans from online lenders instead.

With rising rates driving borrowers away from the big banks and a whopping six in ten borrowers in Australia now considering low cost loans from online lenders instead, 2023 could shape up to be the year of the online lender.

Are you thinking about buying a dog this year? If you are, it might be best to get your new furry friend sooner than later. Your wallet will thank you for it.

Just as home loan rates are rising in the wake of the RBA's back-to-back rate hikes, popular digital bank UBank has bucked the trend and unveiled a stellar new range of home loans with seriously low rates.

Interest rates are on the rise this month, but if you're looking to refinance and have built up some decent value in your property, there's still a way to secure a killer variable rate in return for a generous deposit or equity on your property.

Thousands of Australians each year use mortgage brokers to refinance or get a new home loan, but did you know that some of the best value home loans on the market aren’t available through brokers?

Personal loans are a popular choice among Australians who want to pay for home upgrades and other large-ticket items. With personal loan rates at record lows, they are also handy tools for consolidating and paying down debt.

With borders finally open again, many Australians will be overjoyed at the prospect of being able to plan a domestic or international travel adventure for 2022.

House prices have continued their meteoric rise in Australia, in particular around capital cities where the median house price has hit a record $1.066 million.

If you’re anything like me, you’ve felt pretty chuffed to be in a position to work from home on and off during the last two years of pandemic-induced uncertainty. From a health perspective, being able to reduce potential exposure to Covid has been very reassuring.

The Australian property market’s current run has fuelled a fresh round of FOMO. So much so that for many Australians, buying a home has become a more pressing goal than tying the knot.

If you want to save money towards something specific then maybe you should give sinking funds a try.

It might seem like the simplest option is to just defer to your current bank’s credit card offering. But it could cost you.

Australians have taken their love of streaming services to new levels, with subscription video-on-demand platforms overtaking free-to-air television for the first time on record, data from the Social Research Centre has shown.

Did 2021 change the way you use your credit card? From lockdown budgeting to Christmas spending, after such a big year, it could be time to reassess what’s in your wallet.

Whether it's for an emergency fund, a home deposit or an upcoming vacation, saving money doesn’t have to be a boring task. There are many saving challenges you can try to reach your goal in an exciting manner.

As new year mantras either fade into the background or begin to flourish in late January, ME Bank has released research about young Australians’ financial goals.

Considering a home renovation in 2022? It's time to turn drab to fab! Within your budget of course.So whether the holidays got you thinking about revamping your bathroom, wanting to add a granny flat to your property or ready to start a full house reno, there are a bunch of low rate personal loan options that could help you cover the cost. When it comes to choosing the right renovation loan for your 2022 project (and budget), there are a few things to consider like interest rates, fees and features. For example, right now in the Mozo database the current average unsecured loan variable rate sits at 9.53% and the secured loan variable rate is a lower 7.57%. It’s important when weighing up your options that you look for a loan that offers a lower rate. And where can you find such loans? We’ve got you covered! Here are some top low rate renovation loan options that are jam-packed with handy features that could help you pay less and/or pay down your debt quicker!

There have been plenty of reports on the rising cost of used cars over the last year, and it’s looking like the trend may persist a little longer.

There are plenty of reasons why international travel might not be your top priority right now. Travelling with the Omicron variant in the mix may put you off, and then there are the standard financial, lifestyle and work barriers that might impede you organising a trip.

With a new year and a new financially conscious you, it might be time to finally set up that budget you’ve been thinking about but never put into action so you can save up for something big in 2022.

Fixed rate home loans surged in popularity in 2021 as Aussie borrowers raced to lock in at record low rates. While many lenders have already started pushing fixed rates up from last year’s record lows, there are still a handful of incredibly low fixed rate deals on the market right now for borrowers who are prepared to act fast.The Reserve Bank convenes its first meeting of the new year in early February, and while the official interest rate isn’t expected to rise immediately, there are growing predictions from the nation’s economists that it might rise as soon as late 2022.For borrowers who haven’t yet locked in and like the idea of doing so to provide peace of mind against future rate rises, the Mozo Editors have rounded up some of the top fixed rate home loans currently on the market under 2.00%. But be quick, as these super low deals won’t last for much longer….

The lead up to Christmas 2021 saw a record-breaking $69 billion card spend, but with the recent Omicron outbreak, can Australians afford to pay it back?

Over the pandemic used car prices have skyrocketed across Australia. So what does that mean for 2022? According to new data from Allianz, 85% of Australians are looking to the used car market to save money because they can’t afford a new car. However, as per prices right now, the second hand vehicle market could be a hard egg to crack as well. In fact, analysis from vehicle comparison site Carsguide found that used car prices across websites like Gumtree, CarsGuide and Autotrader have gone up significantly over the past year. In December of last year, it found that:

In the last two years there has been a global microchip scarcity that has affected the car industry. It has led to a supply shortage of new cars and rising prices of used cars.

There’s nothing quite like the fresh start of a new year. A lot can happen in 365 days. Will you fall in love? Join the circus? Make it on the Forbes billionaires list? You’ll just have to wait and see.

After reaching some of the lowest points recorded in years during 2021, interest rates on fixed home loans have started rising across the board.

Finding the best car insurance policy for your needs, at the right price, can be a tricky task. If you’re not a car insurance expert, even finding somewhere to start your research journey can be a challenge.

It’s the start of the new year and what better time to put into practice some new money habits that could see you ditching debt for good or sending your savings skyrocketing.