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These 5 home loan traps could cost you massive dollars

Taking out a mortgage can be an intimidating and confusing process – and the banks don’t exactly go out of their way to make it simpler.


Nick Bendel

Nick Bendel

Sep 14, 2017( 4 min read )

What is mortgage stress?

Mortgage stress is not the worried feeling you get when the news is constantly filled with speculation around housing affordability, property bubbles, or interest rate rises. Instead, mortgage stress can be broadly defined as when your household’s income doesn't adequately cover the cost of your mortgage and other expenses.


Mark Bristow

Mark Bristow

Sep 8, 2017( 3 min read )

Hidden fee traps and how you can avoid them

RateCity spoke to Sydney mother of two, Natalie, about how she found herself falling into her banks’ fee traps, and how she’s choosing to break the cycle.


Alex Ritchie

Alex Ritchie

Sep 7, 2017( 8 min read )

How can I pay my loan off faster?

Whether you have a home loan, a personal loan or a car loan, it’s likely that you’d prefer your debt to be paid off as soon as possible. The longer you owe money to a bank or lender, the more interest you’ll be charged, until the total cost eventually exceeds any benefits offered by the loan.


Mark Bristow

Mark Bristow

Sep 5, 2017( 5 min read )

What is APRA?

APRA, or the Australian Prudential Regulatory Authority as it is officially known, is the prudential regulator of Australia’s financial services industry.


Nick Bendel

Nick Bendel

Aug 24, 2017( 1 min read )

What is a principal and interest home loan?

Home loan repayments are either made on a ‘principal and interest’ basis or they are paid by ‘interest-only’ instalments.


Alex Ritchie

Alex Ritchie

Aug 11, 2017( 4 min read )

Is it safe to get a home loan with a small lender?

While there are certainly benefits to getting your mortgage from a major bank like Australia’s Big Four, it’s the smaller lenders that tend to offer the more competitive interest rates, fees and charges that give the big banks a run for their money.


Mark Bristow

Mark Bristow

Aug 9, 2017( 3 min read )

Why smaller mortgage lenders often come out on top

Borrowers are doing themselves a disservice if they refuse to at least consider taking out a mortgage with a lender outside the big four banks.


Nick Bendel

Nick Bendel

Aug 8, 2017( 3 min read )

What is a mortgage broker?

A mortgage broker helps consumers take out home loans with lenders. As such, mortgage brokers act as middlemen between consumers and lenders.


Guest

Guest

Aug 8, 2017( 2 min read )

Is the cheapest home loan always the best?

We all want to pay as little for our mortgage as possible, but it would be wrong to assume that lower-rate products are automatically better.


Nick Bendel

Nick Bendel

May 22, 2017( 3 min read )

What the new bank levy could cost you

One surprise to come out of Australia’s 2017 Federal Budget was the introduction of a new 'budget repair' levy on Australia’s big banks.


Mark Bristow

Mark Bristow

May 15, 2017( 5 min read )

Why more Australians are rentvesting

‘Rentvesting’ is an option being taken by some younger Australians who want to enter the property market but don’t want to live in the outer suburbs.


Nick Bendel

Nick Bendel

May 11, 2017( 3 min read )

Good debt and bad debt – how to consolidate and save

Even if you didn’t pay much attention to the 2017 federal budget, you may remember how it was presented a little differently. Rather than focusing solely on surpluses versus deficits, the federal government sorted its borrowing into "good debt" and "bad debt".


Mark Bristow

Mark Bristow

May 11, 2017( 7 min read )

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