ING to cut fixed home loan rates by up to 60 basis points
One week on from the Reserve Bank’s November rate cut, ING has announced that it will be reducing rates on a number of its fixed home loans by between 5 and 60 basis points.
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Do home loan rate drops only benefit new customers?
Whether you’re considering your first home loan or well into paying off a current mortgage, recent interest rate reductions could impact you. But it does depend on the type of home loan you’ve taken out and with which lender.
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Property prices set to rise: Should I buy now with a 5% deposit home loan?
With housing prices and rental yields on their way back up, many Australians are keen to snag a piece of the investment property market pie. In fact, 26% believe now is the best time to invest, according to recent ING research. But if you’ve been struggling to raise the standard 20% deposit, the big question for you may be whether it’s a good idea to climb the property ladder with as little as 5% saved up. Let’s take a look at the pros and cons.
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HSBC, Macquarie, Suncorp and UBank latest lenders to respond to RBA cut
It’s been three days since the Reserve Bank reduced the official cash to a new low of 0.10%, yet the response from home loan lenders could be described more as trickle than a flood.
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Best home loans to crush your mortgage in 2021
If saving money on your home loan in 2021 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.
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How have ANZ, Commonwealth Bank, NAB and Westpac responded to the November RBA cut?
The official cash rate has been reduced once again, this time by 15 basis points to a new record low 0.1% following the Reserve Bank Board’s November meeting yesterday afternoon.As usual, the ball is now in lenders' courts, with homeowners across the country waiting eagerly for news of changes to their home loan rates.So, how have Australia’s largest banks - ANZ, Commonwealth Bank, NAB and Westpac - responded to this latest rate cut? We’ve wrapped up their moves below.
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Tic:Toc joins the fight for lowest variable mortgage rate with 20bp cut
Online lender Tic:Toc has reduced its Variable Home Loan rate by 20 basis points this morning, placing the offer among the lowest variable home loan rates currently on the market.
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Why a 1% difference in your home loan rate matters
Are you paying the lazy tax? Whether it’s your electricity bill, phone plan or car insurance, it can be so easy to stick with the same provider and plan year after year - especially if you think you’re getting a good deal.
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Buying a house vs an apartment: 5 factors to consider
Are you a fast-paced city explorer or a breezy country cruiser? This could have a big impact on the kind of home you choose and plunge you into the age-old debate of if apartments or houses are a better buy.But before you can crack on with the financial rebuttals and then settle on a top-value home loan, you’ll want to figure out which dwelling suits you best. So, we’ve laid out a few key areas to address before you dive into analysing the property spectrum.
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Are online lenders safe?
Like other banks and financial institutions, online lenders must adhere to certain laws and regulations laid out by regulatory bodies. In particular, they have to take steps to ensure it’s not beyond a borrower’s means to pay off a loan, as well as provide borrowers with relevant information to make informed decisions along the way.Online lenders that are also authorised deposit-taking institutions (ADIs) are regulated by the Australian Prudential Regulation Authority (APRA). Some examples are 86 400, ING, and UBank. Many online lenders don’t have an ADI license however, as they’re not in the business of providing savings accounts or term deposits. These include Athena Home Loans, Homestar, and loans.com.au.While non-bank lenders aren’t regulated by APRA, they’re still subject to strict credit legislation, and can be ruled on by the Australian Securities & Investments Commission (ASIC) if they’re found engaging in misleading or deceptive conduct.
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