If discounts are reduced by major banks, it could cost borrowers $134 extra per month. Big difference between top rate home loans and major banks’ discounted variable rates.
Cutting mortgage discounts could cost households over $40,000
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.
Fixed rate war is waged as cash rate remains steady
The RBA has left the cash rate steady at 1.75 per cent at today’s board meeting, but banks have taken matters into their own hands cutting to close to 200 home loan rates in the past month.
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.