It is Christmas in July!

The Australian Prudential Regulation Authority (APRA) and the Reserve Bank of Australia (RBA) have both announced reductions in rates giving borrowers a two-part Christmas in July gift. What are these gifts and how do they affect you? Gift 1: APRA are reducing servicing rates! What are servicing rates? Servicing is the calculation the bank uses to determine how much you …

Are you suffering from rate envy?

Have you seen a few banks lowering their interest rates further than your current bank? Tuesday was a historic day as the Reserve Bank of Australia (RBA) lowered interest rates by 0.25% for the first time in almost 3 years. Several major lenders have announced that they will pass on this rate cut in full, while others will pass on …

The Election is Over!

What does this mean for your business? There is good news for small and medium business owners with the instant asset write-off being boosted to $30,000. The eligibility has also been expanded to include medium-sized businesses with a turnover of less than $50 million which will mean 3.4 million business will now be eligible for the instant-asset write-off. Are you …

Mythbusting: The Royal Commission & Brokers

By now you would all have seen and heard about the concerning news on TV, radio and social media regarding recommendations from the Royal Commission (RC). What started out as an investigation into banking misconduct has ended in a ploy to have a go at mortgage brokers and the everyday Australian client looking to fund their home. Rael, Managing Director …

Credit Reports & Credit Scores

There has been an important change to how credit is reported across numerous financial institutions in Australia – ┬áit’s called Comprehensive Credit Reporting (CCR). As this change may affect how you acquire lending in the future we wanted to touch on a few key points and let you know where you can find out more. Your credit report is what …