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Home Loans
RBA to hold steady as inflation does the same - what borrowers can do to get a rate cut ahead of timeThe latest monthly CPI indicator released today is further evidence the RBA will keep the cash rate on hold at 4.35 per cent, but borrowers are encouraged to break the holding pattern themselves.
Eden Radford -
28 Feb, 2024 -
3 min read
Home Loans
What impact will stage 3 tax cuts have on your borrowing capacity?For anyone looking to secure a home loan, the stage 3 tax cuts - and the subsequent increase to your take home pay - could mean your borrowing capacity, gets a bump too.
Eden Radford -
22 Apr, 2024 -
4 min read
Home Loans
Some of the top-rated home loans in April 2024While interest rates are important, Australia’s borrowers, first home buyers, investors and refinancers may also want to compare more than just rates when looking at home loans. When comparing home loan features and benefits, it’s important to consider which of these extras may offer you the most value in your financial situation, and help you to achieve your personal goals.
Mark Bristow -
10 Apr, 2024 -
3 min read
Personal Loans
Some of the top-rated personal loans in April 2024Australians are reportedly moving away from personal loans, in a partial reversal of an earlier uptick in lending activity earlier in the year. While new data shows a decline in personal lending overall, there are still competitive personal loans available for borrowers who know where to look.
Mark Bristow -
09 Apr, 2024 -
3 min read
Personal Loans
Some of the top-rated personal loans in March 2024Data shows Australians are increasingly looking to personal loans to secure finance. However, before committing to a personal loan, it’s important to compare the available options and consider your needs to make sure you’re selecting a loan that offers the most value for your needs.
Mark Bristow -
13 Mar, 2024 -
3 min read
Personal Loans
Feeling the love? Some of the top-rated personal loans for February 2024With Valentine’s Day just around the corner, it’s the time of year when a lot of money gets spent on everything from grand romantic gestures to elaborate weddings. While a personal loan could offer the financial support you need to splurge on your loved ones when the cost of living is high, it’s important to consider your budget and your credit score, and to carefully compare personal loan options before you apply.
Mark Bristow -
08 Feb, 2024 -
3 min read
Credit Score
How fast can you fix a credit score, and how do you do it?Having bad credit may make applying for loans and credit cards feel impossible. But it is possible to recover from a bad credit score, though the length of time it will take may vary. Checking your credit report is often a good start, as is demonstrating your financial responsibility.
Mark Bristow -
28 Feb, 2024 -
4 min read
Car Loans
Would new emissions standards affect which car you’ll buy? Some of the top-rated car loans in February 2024Australians bought record numbers of new vehicles in January 2024, with most being SUVs and Light Commercial vehicles. However, with new emissions standards potentially on the cards, how could this affect your choice of vehicle, and in turn your choice of car loan?
Mark Bristow -
07 Feb, 2024 -
3 min read
Savings Accounts
Which banks have hiked savings account and term deposit rates in June 2023?At its June 2023 meeting, the Reserve Bank of Australia (RBA) board pushed the national cash rate up to 4.10%; the highest it’s been since April 2012. While these hikes are putting borrowers under increased pressure as their borrowing power shrinks, some savers may be able to benefit from rising savings rates that could make it easier to increase their wealth.
Mark Bristow -
13 Jun, 2023 -
4 min read
Home Loans
How do you avoid Lender's Mortgage Insurance?Lenders Mortgage Insurance (LMI) can make a big impact on your mortgage budget if you plan to borrow with a low deposit. Whilethere are several options available to avoid LMI, some may better suit some borrowers more than others.
Mark Bristow -
18 Mar, 2024 -
6 min read
Home Loans
Big banks vs small banks for mortgagesChoosing your mortgage provider can sometimes involve as much research as locating your ideal property. After all, you wouldn’t purchase the first property you saw without looking inside, so why would you treat your mortgage this way?
Alex Ritchie -
05 Mar, 2024 -
6 min read
Home Loans
How to apply for a home loanGetting your first home loan doesn’t have to be as intimidating as it sounds. With just a little preparation, you can confidently calculate how much you can afford to borrow, what support you may be able to get, and how to make an application that’s more likely to be approved by the bank.
Mark Bristow -
29 Feb, 2024 -
11 min read
Credit Score
Does Afterpay affect your credit score?Shoppers find the buy now, pay later services quite attractive but before you jump in, you should know how these services work and if they impact your credit score.
Vidhu Bajaj -
15 Mar, 2024 -
5 min read
Credit Score
How good debts and bad debts can affect your credit scoreIs there such a thing as 'good debt' and what could it mean for your financial future?
Mark Bristow -
16 Feb, 2024 -
4 min read
Credit Score
What is Equifax One Score?Australian credit reporting bureau Equifax has credit score system that could mean your credit behaviours are better reflected.
Eden Radford -
28 Jan, 2024 -
4 min read
Home Insurance
What home insurance do I need for an apartment?Many apartments are already covered by strata insurance, so you may not need to apply for a traditional home insurance policy to cover damage to the property. However, strata insurance may not always offer the cover you need. If you’re one of the 10% of Australians who live in apartments, it could be worth comparing contents insurance policies and other options.
Mark Bristow -
26 Apr, 2024 -
4 min read
Home Insurance
Is insurance a requirement of having a mortgage?While home insurance isn’t compulsory in Australia, many mortgage lenders require borrowers to have a home insurance policy in place over a property before they’ll approve a home loan application.
Mark Bristow -
21 Aug, 2023 -
4 min read
Personal Loans
Can you use a personal loan for tax debt?Many banks won’t allow borrowers to use a personal loan to pay tax debts. However, it may be possible to get a loan to help cover your other expenses while you concentrate on repaying what you owe to the Australian Taxation Office (ATO).
Mark Bristow -
21 Dec, 2023 -
3 min read
Personal Loans
Can you apply for a personal loan on behalf of someone else?The simple fact is that no, in Australia you generally cannot apply for a personal loan on behalf of someone else. However, there are alternative options you could consider.
Alex Ritchie -
14 Sep, 2023 -
4 min read
Personal Loans
Compare personal loans for self-employed borrowersSelf-employed Aussies can find it harder to apply for personal loans without a regular income. Self-employed personal loans are low-doc options for contractors, freelancers, tradies and small business owners. Compare interest rates, fees and features of personal loans for self-employed at RateCity
Alex Ritchie -
19 Jun, 2018 -
6 min read
Home Loans
Professional package home loansProfessional package home loans were introduced by lenders to reward low-risk borrowers like doctors, lawyers and accountants. Find out if you qualify.
Jodie Humphries -
06 Nov, 2020 -
9 min read
Nonspecific
Borrowers lose out on rate cutsRBA cash rate dropped by 175 basis points while average standard variable rate fell by 133 basis points. RateCity found borrowers with a $300K mortgage would save extra $80/month if lenders followed cash rate. Wakeup call to borrowers: don't take your home loan for granted!
RateCity -
07 Jan, 2013 -
1 min read
Nonspecific
Don't hold your breath: interest rate rise imminentReserve Bank of Australia keeps the official cash rate at 4.50%. But borrowers should expect a rate rise by the end of 2010. What borrowers can do to beat the rate hikes.
RateCity -
05 Oct, 2010 -
1 min read
Nonspecific
Borrowers warned: watch out for new lending tactics after RBA keeps cash rate at 3.50%Reserve Bank keeps the official cash rate at 3.50% . Variable borrowers will have extra $103 per month* in pockets for a $300,000 home loan after 2 rate cuts. Borrowers watch out: lenders tempting borrowers to absorb their savings instead of accelerating repayments.
RateCity -
07 Aug, 2012 -
1 min read
Nonspecific
More borrowers missing repayments40% increase in mortgages 30-59 days in arrears Q412 vs. Q312: Fitch Ratings. Borrowers could face serious financial stress when interest rates rise. RateCity's Borrowing Budget Guide for all Australian borrowers!
RateCity -
13 Apr, 2013 -
1 min read
Nonspecific
Reserve Bank cuts the cash rate to 4.5 percentReserve Bank cuts official cash rate by 25 basis points. Borrowers could save around $50 per month in repayments. It’s good news for existing and potential borrowers.
RateCity -
01 Nov, 2011 -
1 min read
Nonspecific
Can you really save by making fortnightly mortgage repayments?Borrowers are urged to check repayment calculations before choosing a lender. Borrowers could save $77,000 by paying fortnightly – depending on the lender!
RateCity -
26 Jul, 2011 -
1 min read
Nonspecific
Borrowers better off with exit fee banAll lenders have removed early exit fees on variable rate loans. Upfront fees remain relatively unchanged since legislation introduced.
RateCity -
27 Jul, 2011 -
1 min read
Nonspecific
Fixed home loan demand rising: don't get caught with a bad deal!47% more borrowers applying for fixed home loans through RateCity than last year. 69,000 borrowers fixed in 2012 - up 60%: ABS. Home loans hit below 5%: compare deals online before locking in!
RateCity -
08 Mar, 2013 -
1 min read
Nonspecific
Home buyers back in the market1st increase in number of settled home loans since December 2010: ABS. Borrowers taking on more debt. RateCity cautions borrowers to prepare for rising interest rates.
RateCity -
09 Jun, 2011 -
1 min read
Nonspecific
Borrowers likely to be hit with rate riseReserve Bank increased cash rate by 25 basis points to 4.25%. Benchmark standard variable rate to reach 7.38% this week. Plenty of competition in the market to compare and get a better deal.
RateCity -
05 May, 2010 -
1 min read
Nonspecific
Borrowers spared interest rate rise• Reserve Bank keeps the official cash rate at 4.75%Good news for many homeowners close to “mortgage stress” threshold. RateCity warns borrowers to start preparing for rising rates.
RateCity -
05 Apr, 2011 -
1 min read
Nonspecific
Relief for borrowers, but use time wiselyReserve Bank leaves the cash rate unchanged at 4.50%. Value of home loans lowest since March 2008: ABS data. Paying down debt is the best option for most borrowers.
RateCity -
01 Jun, 2010 -
1 min read
Nonspecific
Borrowers told to cool it' as market heats upThe Reserve Bank of Australia's decision to leave the cash rate on hold at 2.5 percent today is a welcome one for variable home borrowers, bringing repayment relief for at least another month, according to Australia's leading financial comparison website, RateCity.
Laine Gordon -
03 Jun, 2014 -
2 min read
Nonspecific
More borrowers fixing their mortgageNumber of borrowers fixing their mortgage increased by 53% in September: ABS. This year saw biggest proportion of fixed home loans in 4 years. Fixed rates still falling: still a great time to fix if you're concerned about rising rates.
RateCity -
17 Nov, 2012 -
1 min read