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59% of borrowers choose brokers over banks!

October 25, 2021

With brokers now legally required to act in the best interests of borrowers – something banks aren’t required to do – borrowers have been turning to brokers in increasing numbers. Mortgage brokers settled 59% of all new home loans in the June quarter – a record market share for ...

Australian`s doing less shopping, more saving!

October 25, 2021

Have you been squirreling away money during the latest round of lockdowns? If so – join the club. Australian households have been saving an average of 9.7% of their income, according to the most recent data. However, the Reserve Bank has forecast that the saving rate will increase to ...

Fixed vs Variable rate comparison reveals big difference!

October 25, 2021

Some interesting new data sheds interesting light on the eternal debate over whether to have a variable or fixed home loan. Reserve Bank of Australia data for August shows owner-occupiers on three-year fixed loans were paying, on average, 1.26 percentage points less than those on the discounted variable rate. ...

Buyers snapping up properties in red-hot market!

October 25, 2021

Almost 598,000 residential properties were sold in the year to August, which is the highest number of annual sales since 2004, according to CoreLogic. The August result was 42% higher than the year before and 24% higher than the 20-year average. Six states and territories ...

ATO warns property investors about tax mistakes

August 30, 2021

The Australian Taxation Office has reminded property investors to beware of common tax traps that can delay refunds or lead to an audit. The most common mistake investors make is failing to declare all their property income, including capital gains from selling an investment property, according to the ATO. ...

Lender offering special loans for green home improvements

August 30, 2021

Do you want to make your home more sustainable? If so, you might be interested in taking out a ‘green loan’. A range of lenders now offer special loans for borrowers who want to finance home improvements such as: Installing solar panelsInstalling water tanksAdding insulationAdding double glazing to ...

Demand outstripping supply in all capitals!

August 30, 2021

Properties are being removed from the market faster than they’re being added, which is pushing up demand and prices, according to CoreLogic. Between May and July, 1.4 homes were sold for every 1 new listing added to the market. Supply and demand are ...

Investors stepping up as first home buyers step down!

August 30, 2021

First home buyers have been drifting out of the market, while investors have been piling in, according to the most recent data from the Australian Bureau of Statistics. June was the fifth consecutive month in which the number of first home buyer loans fell and in which the share ...

ATO payment plans can help businesses "GET BACK ON TRACK"

August 23, 2021

Type your Struggling small businesses have been urged to be proactive at tax time, with reports showing a decline in small business payment plan arrangements over the past three years. Small business ombudsman Bruce Bilson said if any businesses are struggling to meet their tax obligations, the worst thing ...

Moving House?

August 09, 2021

Moving house can be so daunting, 500,000 homeowners move house each year. So at Finance Prospects, we love making it easier for our clients. We thought that we would provide some tips and created a checklist to make the move easier. Click here to download ...

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