Queensland car insurer RACQ, which last year merged with QT Mutual Bank, has now launched as RACQ Bank, and hopes to offers Aussies an alternative to the big banks when it comes to banking products like home loans.
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Despite the intense focus on rising house prices and stagnant wage growth among politicians and media outlets, the struggle for first home buyers trying to enter the Australian property market has continued - but it seems many may be finding a solution in ‘rentvesting’.
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Mozo Experts Choice winner, Newcastle Permanent Building Society have posted higher home loan and customer deposit growth rates than any top four bank, according to its 2017 Annual Report.
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Mozo Experts Choice winner, bcu today made wholesale cuts to both fixed and variable home loan rates including a staggering 95 basis point cut to its five year fixed term, making it the outright market-leader by 49 basis points.
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Prospective buyers in a number of apartment hubs in both Brisbane and Perth may soon find it harder to get a home loan following reporting from the Australian indicating that a number of postcodes have been ‘red-flagged’ by lender ANZ.
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Mozo’s database has seen seven lenders cut fixed home loan rates over the past few days as spring property season starts to heat up.
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“Over-indebted” home loan borrowers could benefit from fiercer competition, after Mozo data showed 31 lenders slashed variable rates in August and September, and 1 in 3 lenders cut fixed rates.
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The recent flood of interest-only rate hikes may be ebbing, as big bank CBA joins a number of lenders reversing current trends to cut fixed rates on interest-only loans.
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The Commonwealth Bank has introduced a $1,250 refinance rebate and interest-only rate cuts in a note released to brokers as the spring property season gets under way, reported the Australian Financial Review .
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It’s not news that house prices are skyrocketing in some of Australia’s capital cities, and recent Mozo research into the Bank of Mum and Dad has revealed just how hard it is for young home buyers to get a foot on the property ladder these days - especially when compared to thirty years ago.
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