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September 17, 2012

Does bank familiarity breed financial contempt?

Last year the Australian government attempted to up the ante when it came to competition among lenders, abolishing early termination fees to make it easier for borrowers to shop around for a better deal.


Interestingly, a national survey released by Canstar Blue indicates that even without the threat of hefty exit fees, borrowers have failed to heed the call from politicians and industry insiders to change lenders.

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August 27, 2012

Six surefire ways to boost your borrowing power

In the current property climate where there are opportunities abound for savvy investors, the last thing you need is an unnecessary restriction on how much you can borrow.


Limited borrowing power is a reality many investors face given the banks heightened wariness around refinancing and tighter restrictions on how much they’re prepared to put up.

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February 28, 2012

Property owners get the interest rate jitters

Home owners and property investors had much to celebrate over Christmas and the New Year as the Reserve Bank started slashing interest rates in the wake of a gloomy global financial outlook.


Many economists tipped a round of rate cuts were likely throughout the coming year, with the RBA (Reserve Bank of Australia) expected to take precautionary measures and ensure Australia could weather Europe’s continuing financial instability.

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February 9, 2012

Investing in property – a super idea!

Australian workers have watched world sharemarkets ride a hair-raising rollercoaster of ups and downs for some time now.


Thousands lost large chunks of their retirement nest eggs during the 2008 global financial crisis and more recently, as the European markets teeter on the brink of uncertainty, many are concerned as to how their savings, shares and super funds will weather this new economic storm.

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January 16, 2012

The ANZ asserts its independence… but is it just a marketing ploy?

For the second consecutive year the big four banks, with the exception of ANZ, have come dangerously close to being seen as the Christmas Grinch. Sitting on their hands as the Reserve Bank of Australia (RBA) dropped the cash rate by a further 25 basis points at their December meeting, all but the ANZ teetered dangerously on the brink of a swell in negative consumer sentiment.


Suggesting that the rising cost of funding prohibited them from passing on the two central bank rate cuts in full, the Commonwealth, NAB and Westpac tried to dig their heels in, but were forced to reconsider their position when the ANZ set a precedent, painting themselves as the finance sector’s very own St Nick.
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December 20, 2011

Money management 101 – maintain your mortgage repayments

Many homeowners and property investors are delighting in the decision of the Reserve Bank of Australia to start slashing interest rates, as the global economy once again hits a rough patch and economic uncertainty grips much of the developed world.


As the banks pass on these cuts (at their discretion of course), most mortgage holders jump at the chance to save money in the short term, with the promise of an immediate reduction in their monthly repayments. And that’s fine.

But what if I told you there was a way you could save a lot more by taking a longer-term perspective on your loan? What if I told you that instead of saving a few hundred dollars over the course of a year, a 0.5 per cent fall in interest rates could save you thousands over the life of your mortgage?

Interested? Then read on… Read more →

October 31, 2011

When it comes to finance, never say never

One of the most disheartening prospects a homebuyer faces is rejection. First there’s the possibility that the offer they put in on their dream home or ideal investment might be declined, and of course, even more soul destroying is the chance that the banks will leave them high and dry with no money to even make a deal in the first place.


As we witnessed during the global financial crisis in 2008, when the world economy starts to show significant cracks, lenders get nervous. Their lending criteria becomes more stringent and they seem to want every last detail of your life story before even glancing at your home loan application. Read more →

September 20, 2011

How debt can make you money

Most people believe ‘debt’ is a dirty word. It’s something to be avoided at all costs or, if it’s necessary for some reason such as buying a home, to be paid down as quickly as possible.


But what if having debt meant you actually made more money? What if you could be paid to borrow from the banks? Well, you can – and I’m going to tell you how it works.

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August 23, 2011

Do fortnightly repayments really make your mortgage shrink?

There’s no shortage of talk at the moment about rising interest rates and the need for more Australian homeowners to carefully consider their financial strategy when it comes to better managing debt.


One option that’s been widely discussed in the media of late is refinancing and with increasing competition in the lending arena, this is definitely worth considering. But less has been said about how to best manage repayments in order to save not only interest, but years on the life of a standard, variable rate home loan. Read more →

May 31, 2011

Bank policies change in the blink of an eye!

How quickly things can turn around in the world of finance. Banks are fickle institutions, making it nigh on impossible to borrow money one minute and then almost throwing it at customers the next!


The hint of increasing competition between the major banks that was blowing in the wind earlier this year has ramped up to an almighty battle of the big boys and we’re now seeing fierce campaigns to win business between the banks. Now is the perfect time to review your loans and get your financial ducks in a neat little row while money is easier to come by.

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