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Fewer Aussies are behind on mortgage repayments

January 28, 2018

Despite high household indebtedness, the number of Australians behind on their mortgage repayments has fallen, according to a recent report by ratings agency S&P. Delinquent housing loans underlying prime residential mortgage-backed securities (RMBS) fell to 1.00% in November 2017 from 1.04% the previous month, S&P partly attributed the drop to a continuous increase in outstanding […]

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RBA to raise rates by 25 bps in August: NAB

January 19, 2018

The major bank believes that the Reserve Bank of Australia will raise the cash rate by 25 basis points in August and November. According to NAB’s December edition of the Forward View report, the RBA will not have much impetus to begin hiking the cash rate until it sees a pick-up in wages growth, which […]

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Personal loan customers refunded millions

January 17, 2018

Hundreds of Latitude Insurance customers will be refunded a total of $1.1 million after the insurance provider mis-sold consumer credit insurance with personal loans. Hallmark General Insurance Company Ltd (which trades as Latitude Insurance) will refund 905 customers after it mis-sold consumer credit insurance (CCI) with Latitude personal loans and denied insurance claims made on […]

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ASIC provides tips for financial resolutions

January 15, 2018

The financial services regulator is encouraging Australians to start the new year by setting financial goals, listing five tips to help achieve the feat. According to ASIC’s senior executive leader for financial capability, Laura Higgins, one of the most popular New Year’s resolutions is for people to “take control” of their money. However, Ms Higgins highlighted that […]

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12 money tips for Christmas

December 19, 2017

Save yourself this Christmas If the festive season usually leaves you out of pocket and feeling like you spent more time and money battling the crowds than relaxing with friends and loved ones, why not simplify things this year? Here are some quick and easy tips to help you enjoy the holiday season without breaking […]

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Looking for love: The best places to swipe right in Perth

December 16, 2017

With nearly one in four West Australians living alone, suburbs that offer lifestyle, amenities and accessibility are a lure to these singles. Living in or near a city means shops, bars, restaurants, and cultural and leisure activities are all within reach and the type of housing stock usually suits those who live alone. Single people […]

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Bank of Mum and Dad is fifth largest lender in Oz

December 16, 2017

A new member has officially joined the Big Four, becoming Australia’s fifth largest bank, according to Douglas Driscoll, CEO of Starr Partners. “I’m talking about the Bank of Mum and Dad,” he said. “We are encouraging first-home buyers to enter the market, but with escalating prices, it is more difficult than ever.” Lenders are generally […]

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Tic:Toc to undercut broker distribution in white label play

December 16, 2017

Mortgage brokers are facing a double threat from online lender Tic:Toc, which is seeing a surge in demand from consumers and interest from banks and non-bank lenders looking for cheaper distribution. Tic:Toc promotes its quick turnaround times and convenience. The group only offers its own branded mortgages, which it says can be approved within 22 […]

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Government to implement faster payment terms for SMEs

December 5, 2017

The federal government has announced that it will implement 15-business-day payment terms for small business providers in response to a Payment Times and Practices Inquiry. The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) released a report in April which noted that “late repayments have been a perennial problem in Australia”. The government’s decision to […]

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How superannuation’s blindspot for gig economy workers is setting many up for a fall

November 30, 2017

A rising number of self-employed people are failing to contribute to their own superannuation creating weaker coverage in Australia’s $2 trillion retirement income system, which has seen its score slip from last year’s world rankings. The Melbourne Mercer Global Pension Index, released on Monday, shows Australia maintained third place, behind Denmark and The Netherlands with […]

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