Buying a house online, wedding planning in 2021 & exploring the world from home: This week’s best banking news

Buying a house online, wedding planning in 2021 & exploring the world from home: This week’s best banking news
  • House prices outstrip pre-pandemic expectations, says KPMG
  • Paying for a wedding in 2021
  • Where to find a green loan
  • Getting a credit card while on Centrelink
  • Have an overseas trip while stuck at home
  • How to buy a home online

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

House prices outstrip pre-pandemic expectations, says KPMG

A recent KPMG Economics study unveils how the COVID-19 pandemic is impacting housing prices among the Australian residential property market compared to pre-pandemic expectations.

The study revealed that forecasts made before the pandemic expected that property prices in capital cities (except for Darwin) would experience significant growth in early 2020.

“Instead, prices in every Australian capital city, with the exception of Canberra, recorded ‘nominal price declines’ between 0.3% and 2.8% in the months following the start of the pandemic,” said Mozo Money Writer, Tom Watson.

Read full article: House prices are outstripping pre-pandemic expectations: KPMG to learn more.

Paying for a wedding in 2021

With the Spring wedding season nearby, many Aussie couples have been left with little choice but to change plans due to COVID lockdown restrictions.

Despite this, getting hitched is still as pricey as ever, with Moneysmart reporting that the average cost of a wedding in Australia is a whopping $36,000.

Which makes sense why many couples lean on the bank of mum and dad, personal loans or credit cards to help cover the cost.

Read the full article: Getting married in 2021: what are my options to fund a wedding? to find out.

Where to find a green loan

Where to find a green loan

If you’d love to do your part to help out the environment but can’t afford the upfront costs of buying an electric vehicle or installing solar panels in your home, then you might consider a green loan.

A green loan works just like a regular personal loan or car loan. Only, they’re designed to help pay for environmentally friendly expenses.

The current average unsecured green loan in the Mozo database sits at 6.85% - while the average across all unsecured loans sits at 9.75%. 

Read the full article: Where can I get a green loan? to learn more about green loans.

Getting a credit card while on Centrelink

While it can be more difficult to get approved for a credit card if you receive Centrelink payments or a small income - it’s not impossible.

Ultimately it comes down to the eligibility criteria that come with the specific credit card you apply for. Other determining factors include your credit score, employment status and current debts or financial obligations. 

That being said, there are a few things you can do to better your chances of getting approved.

Read the full article: Can I get a credit card if I am on Centrelink? to find out.

Have an overseas trip while stuck at home

Have an overseas trip while stuck at home

In a COVID lockdown area and sending yourself bonkers counting bathroom wall tiles? Then count floor tiles instead … only joking!

We get it. Being stuck at home for weeks and weeks on end is a total drag. If we had it our way, we’d be lapping it up on a beach somewhere in Ibiza right now. But maybe you can?

Call us crazy, but with a bit of childlike imagination, you can have your own make-believe Europe trip without ever leaving your apartment. Trust us, your savings account (and sanity) will thank you for it.

Read the full article: How to have an overseas trip while stuck at home to find out how.

How to buy a home online

Did you know you can buy a home online? Yep! Say you’re moving interstate for work, or you simply can’t leave your house due to the pandemic - you can take out a home loan right from your device.

According to Nathan Walsh, chief executive of online lender Athena, “in the next 15 years, 30 per cent of home loans will originate online, shifting from the current 3 per cent.”

Read the full article: Can I buy a home online? Yes, here’s how to get the full scoop.

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