Home loan news and advice - page 94

All the latest home loan news and top tips to help you manage your home loan.

Don’t get stung by a high revert rate: Mozo research reveals fixed home loan trap

Don’t get stung by a high revert rate: Mozo research reveals fixed home loan trap

Fixed rate home loans can be an enticing option for borrowers. They provide security against rate hikes and certainty about fitting monthly repayments into the family budget. But some borrowers may be unprepared for the potentially high revert rates that await them at the end of their fixed term.Fixed rate home loans usually come with a fixed term from one to five years long, or on some options, as long as seven or even ten years. While the rate is locked in for this period, it then reverts back to a variable rate option. These revert rates automatically kick in unless you negotiate an alternative with your lender, and they can make a huge difference to your monthly repayments.If this is all news to you, you might be in for a shock. Research from Mozo has shed some light on just how steep revert rates can be for borrowers caught unaware.

A race to the bottom - the five home loan lenders slashing rates

A race to the bottom - the five home loan lenders slashing rates

Since the start of the year, many Aussie homeowners have felt the pinch from variable home loan rate rises, especially from the major banks. But the trend toward hiking rates could be about to change thanks to moves by challenger lenders and smaller banks.

Banking Royal Commission: Why mortgage broker changes will benefit the big banks

Banking Royal Commission: Why mortgage broker changes will benefit the big banks

As the reporting embargo was lifted and our news feeds came to life at 4:30pm on Monday afternoon, it’s fair to say many observers would have greeted the recommendations released in the Royal Commission’s Final Report into Misconduct in the Banking, Superannuation and Financial Services Industry with disappointment.