The banks have agreed to extend their loan relief policies to encapsulate a larger portion of borrowers affected by the coronavirus pandemic. The Australian Banking Association (ABA) has announced that its members have agreed to extend the six-month deferral of loans to an additional 30,000 businesses impacted by the economic...
The announced $130 billion JobKeeper program has left many small to medium businesses with questions regarding eligibility and how it will be implemented. Here’s what you need to know. The JobKeeper payment is intended to provide wage subsidies to businesses that are significantly affected by COVID-19. Am I eligible for the coronavirus wage subsidy? Employers will...
Australians who lose their jobs will be paid $1,500 per fortnight to cover their share of income in a plan to protect workers who have been stood down because of the coronavirus crisis. Under the $130 billion plan, which was announced today, businesses impacted by the coronavirus will be given the...
Australians have some tough decisions to make regarding their finances and how best to navigate the options made available to them by the Australian Government during the Covid-19 pandemic. The government is allowing individuals affected by the coronavirus to access up to $10,000 of their superannuation in 2019–20 and a...
Earlier this week, Prime Minister Scott Morrison urged the business community to support the government’s efforts to address the growing economic impact of the coronavirus (COVID-19) pandemic. Mr Morrison specifically thanked the banking sector for passing on the full 25 bps cut from the Reserve Bank of Australia (RBA) following its...
So you’ve scrimped and saved, whipped your investment portfolio into shape and now you’ve finally saved up a decent-sized home deposit. That’s the hard bit done, right? Well, not exactly. Don’t get us wrong, saving up a home deposit is no small feat – but when it comes to the process of...
When applying for a home loan, choosing whether to take a fixed rate or get a variable rate is crucial, especially for those who want to manage their finances more efficiently. While both have advantages and disadvantages, borrowers who would like to have some certainty, particularly in the first...
If you’re looking at buying your first home, chances are you’ve heard the phrase ‘Lenders Mortgage Insurance’ thrown around, or maybe even the acronym ‘LMI’, but how many of us know exactly what this means? If you’re anything like most first-time home buyers, you may be totally worried and even...
The First Home Loan Deposit Scheme is an Australian Government initiative to support eligible first home buyers to purchase their first home sooner. First-Home-Buyer-Deposit-scheme-information-guideDownload The Scheme aims to support first home buyers through a limited Government guarantee to eligible customers who have a minimum 5% deposit, without Lenders Mortgage Insurance (LMI). The guarantee...
As the second largest property market in the country after Sydney, investors and homeowners are both watching with keen interest what is happening to Melbourne property prices in 2020. After negative results for all of 2018 and the first half of 2019, the market woke up after...