RateCity's Reserve Bank Rate Alert, April 2012 board meeting

RateCity's Reserve Bank Rate Alert - April 2012 board meeting

Potential for RBA cash rate reduction – but will lenders pass cut on in full? No movements from lenders likely until after ANZ monthly review on April 13. Fixed mortgage rates creeping up. While most mortgage holders doing well, problems at the margin – late mortgage repayments at almost 15-year high: how to avoid missing a mortgage repayment.

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Can I get a $1,500 payday loan with bad credit?

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.