Budget to provide Aussie pensioners with reverse mortgages

Elderly Australians were arguably among the “winners” of the 2018 Federal Budget, with the updated Pension Loans Scheme letting retirees take out a government-issued reverse mortgage on their property and enjoy improved access to retirement income.

What is the Pension Loans Scheme?

The Pension Loans Scheme allows people who are at the age pension age to apply for a loan from the government to supplement their retirement, effectively functioning as a reverse mortgage.

Australians swing towards phone and mobile banking

Popping down the street for a chat with your local banker or even to use the ATM appears to be falling out of favour, with Australians increasingly turning to mobile and phone banking to manage their personal finances.

Australians feeling confident ahead of federal budget

Many Australians appear have a good feeling about the upcoming federal budget, with higher consumer confidence and lower inflation expectations being recorded by Roy Morgan.

Average credit card interest rates continue falling

The trend towards low-rate credit cards has made an impact on the Australian marketplace, with the average credit card interest rate on RateCity falling to a new low in April 2018.

Average home loan rates and fees fall in April

Australia’s home loan marketplace may be becoming slightly more affordable, with average mortgage interest rates and fees falling across RateCity over the month of April.

One in three Australians on struggle street

A recent report from ANZ has revealed that while 45% of Australians feel like they’re on top of their money, around 36% of Australians are struggling with some degree of financial stress.

Few lenders offering 10 year fixed rates

While uncertain economic times can lead borrowers to look into home loans with fixed interest rates, the number of lenders offering decade-long fixed interest rates can be counted on one hand.

Small inflation increase over 2018's first quarter

Back to school costs and rising wholesale gas prices are among the factors that have impacted Australian household budgets over the first quarter of 2018, though inflation rose relatively little, according to the latest data from the Australian Bureau of Statistics (ABS).

Small business roundtable asks how to make loan comparisons easier

A recent roundtable hosted by the Reserve Bank of Australia (RBA) looked at issues facing Australia’s small businesses, including challenges such as comparing and switching business financing products across different lenders.