ASIC launches guidance for lenders on mortgage exit fees. Lenders can recoup costs by charging higher fees. Watch out for lower fees upfront as they could bite you if you switch.
ASIC cracks down on high exit fees, but will this mean higher mortgage costs?
Refinancing on the rise, as rates stall
As the RBA leaves rates on hold at 1.50 per cent today, new figures show the number of Australians refinancing their home loans is on the rise.
Borrowers warned against enticing honeymoon rates, which leave $80,000 sting in the tail
Lenders are flooding the home loans market with enticing honeymoon rate deals, which revert to much higher rates once the introductory period expires.
Cash rate holds at 1.5%, yet mortgage stress on the rise
The RBA has left the cash rate on hold at the historical low of 1.5 per cent today. Yet, new research shows that the financial pressures of paying off a home loan are increasing.
Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.
Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.