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.

How much could you retire with? This super fund knows

Superannuation can sometimes feel a bit like a simple savings account or term deposit – money goes in, earns interest, and doesn’t come out again until you retire. But did you know that some Australian super funds offer financial education, advice and other services? Not all Australians take advantage of these services, which could make a big difference to your retirement plans.

Some of the top-rated home loans in July 2023

The Reserve Bank of Australia (RBA) has rung in a new financial year by keeping the cash rate on hold at its July 2023 meeting. But home buyers are still struggling, with the previous 12 rate hikes having massively reduced the borrowing power of many Australians.

How long do banks keep mortgage records?

While you’re a customer of a bank or mortgage lender, they should keep records of your home loan, including interest rates and charges, repayments and much more. You should be able to request access to these records if required, though there may be a maximum time limit for how far back you can go.

What to expect from the RBA meeting in July 2023

Following the June 2023 meeting of the Reserve Bank of Australia (RBA), where the cash rate rose by 25 points to 4.10%, economists from Australia’s biggest banks found themselves having to revise their interest rate predictions for the rest of the year. Several of these economists are now expecting rate hikes in both July and August 2023.

How can I find bank accounts in my name?

If you’ve ever opened more than one bank account in the past, could you have forgotten about some money that you’ve left behind, which is still waiting to be claimed? And if you think you might have, or if you’re not quite sure, how can you go about finding these outstanding accounts and claiming this unclaimed money?