Two months and counting (down). That’s how long your business has to make use of the $150,000 instant asset write-off before the end-of-financial-year June 30 deadline.
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Loyalty is an admirable trait when it comes to our friends, family and loved ones. But if you’re extending that virtue to the banks, then there’s a good chance it’s costing you thousands of dollars.
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With interest rates at record low levels, today we’ll look at a question that many are asking: should I lock in a fixed rate home loan?
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It’s fair to say it’s an unusual time to be a first home buyer. But there are still opportunities out there for those whose jobs haven’t been affected by COVID-19.
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SME businesses in need of working capital due to the coronavirus outbreak can now access unsecured loans “more cheaply and more freely” than ordinary business loans.
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You don’t need us to tell you how much the world has changed – there’s been no shortage of news bulletins updating you on that. So rather than telling you about more changes, today we’re going to explain how we can help.
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Found yourself with extra time on your hands? Slightly worried about meeting your home loan repayments? Want to make use of those back-to-back rate cuts? While the world has changed significantly over the past month, it’s possible to use some changes to your advantage.
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Here’s some promising news for big and small businesses alike: six-month loan deferrals are now available to larger businesses on the condition that they don’t terminate leases or evict tenants for falling behind on their rent due to COVID-19.
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Following on from my email on Monday, we are in an ever changing environment with COVID-19 and I have received a lot of emails asking whether it was a good idea to put your repayments on hold with your bank, just in case things turn sour.
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This is one article we hope you never have to read. But if COVID-19 has impacted your income to the point where you may need to pause your mortgage repayments, then we’ve broken down the banks’ deferral policies for you.
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If your small business is being affected by the coronavirus your loan repayments will be deferred for six months, says the Australian Banking Association (ABA).
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The Reserve Bank of Australia (RBA) has cut the cash rate to a record low of 0.25% following an emergency meeting due to the impact the coronavirus is having on the economy.
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Homeowners who have had their income impacted by the coronavirus outbreak are being encouraged to seek out hardship options with their lender.
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Small businesses all around the world are facing uncertain times. However, rather than shutting up shop until COVID-19 passes, the federal government is hoping to stimulate SME spending through a raft of initiatives and tax incentives.
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First home buyers are throwing themselves into the property market in numbers not seen since 2009.
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The Reserve bank of Australia (RBA) has cut the official cash rate by 25 basis points to a new record low of 0.50% as the Coronavirus outbreak impacts global financial markets.
RBA Governor Philip Lowe said the Coronavirus has clouded the near-term outlook for the global economy and global growth in the first half of 2020 will be lower than earlier expected.
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Australians have always had a regrettable relationship with the big 4 banks. Rarely do I hear consumers raving about the ‘amazing’ experience they had at their local branch or how ‘fairly’ they’ve been treated when looking at recent fees and charges on their account!
However, the realty is around 80% of us bank with the big 4 and as we’ve seen with the Royal Commission, they’re essentially too big to fail.
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This week I had two meetings with clients, which each brought up a scenario that I am seeing again and again in my travels as a mortgage broker. I thought in this article that I would unpack each of these scenarios and give you the recommendations I provided for each of my clients to consider.
The first scenario was a couple who bought their family home about 10 years ago, have been chipping away at their mortgage, built up a good chunk of equity and wanted to know what would be the better move – to continue paying down their home loan or to use some of their equity and purchase an investment property.
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For the longest time I haven’t paid much attention to interest rates as we’ve had something like 20 months in a row of the RBA doing nothing to the cash rate. However the last two months have put the market into a spin.
Not only is the cash rate now the lowest it’s ever been at 1%, we’ve also had APRA remove their restrictions on investment and interest only lending, not to mention favourable changes to the way in which banks assess someone’s income.
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Yesterday the RBA reduced the cash rate for the 2nd month in a row, making the new rate 1%, the lowest we’ve seen in recorded history.
Since the announcement yesterday, many lenders have been quick to pass on the full rate reduction and it’s expected that the majority of lenders will be close to passing on the full rate reduction within the next few weeks.
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