Three great reasons checking your credit score can help you

Your credit score is an assessment of your financial responsibility. If you have a good credit score, lenders may feel more confident about lending you more money at lower interest rates. But if you have a bad credit score, you may find it harder to successfully apply for credit.

Will paying off a personal loan increase my credit score?

Reaching the end of your loan term and making your final repayment can be a satisfying feat. But will paying off your personal loan give your credit score a boost, or could it have the opposite effect?

What to expect from the RBA in August 2023

Economists from some of Australia’s leading banks have been forecasting for some time now that another cash rate hike is due to arrive at the August 2023 meeting of the Reserve Bank of Australia (RBA). But as the big date approaches, is a hike still on the cards?

Inflation has peaked in Australia. Here’s what’s next

Inflation is affecting every aspect of Australian finances at the moment, from the cost of lettuce to home loan interest rates. So, what’s next for inflation now that it has reached its peak? We checked what some of Australia’s leading financial institutions had to say in their forecasts.

What are the new RBA meeting dates in 2024, and what do they mean for interest rates?

Say goodbye to the monthly meetings of the Reserve Bank of Australia (RBA) board – from 2024, the RBA will host 8 meetings per year, rather than 11. Based on these newly announced dates, Australian savers and mortgage holders can get a better idea of when to expect changes to their interest rates, allowing them to plan and budget accordingly.

What is a commercial finance broker?

Commercial finance brokers put borrowers in touch with lenders to organise loan deals, much like mortgage brokers. The difference is that commercial finance brokers specialise in brokering deals for commercial purposes, such as loans to start or run a business, or to purchase property or equipment for work use.

What is Best Interests Duty for brokers and why is it important?

The days of wondering if a mortgage broker was recommending you a home loan because it was the best for you, or because it paid them the best commission are over, thanks to Best Interests Duty.

Some of the top-rated home loans for investors and refinancers in July 2023

While a new governor and revised meeting schedule could change the future of the Reserve Bank of Australia (RBA), many everyday homeowners and investors are still dealing with the past 12 rate hikes. As more borrowers come face to face with the fixed rate cliff, it becomes more important than ever to work out the overall value offered by different mortgage offers before you consider switching.

What is the average Australian home loan amount?

According to the Australian Bureau of Statistics (ABS), the average home loan amount in Australia for owner-occupier dwellings as of May 2023 is about $584,836, which may seem like a lot. But you must remember that the state and capital city you reside in is an important factor that determines the property values, which in turn influences the average Australian home loan.

Cashback value: Could looking beyond the big banks save you money?

Cost of living pressures, mortgage stress and the fixed rate cliff are all contributing to record numbers of Australians refinancing their home loans. Competition for business from these refinancers has heated up - so much so, that some of Australia’s leading banks have pulled their cashback deals.