Exit Fees Might Kill Benefits of Better Deal
The exit fees lenders put on their fixed-rate home loans are rarely considered a cash grab by the ombudsman.
Hemmes Clan Buys $12.6m Mansion
The high-profile Hemmes hotelier clan has added another property to its portfolio with a $12.6 million purchase. Bettina Hemmes, the low-profile interior designer daughter of the family, bought Kianga, a five-bedroom Federation house in Vaucluse at auction yesterday. The purchase could trigger a shuffle within the Hemmes household.
Investors Eye up Property Market
Almost one third of investors will look to increase their investment portfolio in the next 12 months, a new survey has found.
Mortgage Hunters Swamp Interest Rate Comparison Websites
Financial comparison sites say they've noticed a significant jump in traffic to their sites in the last month. The increase has been attributed to the big four banks rising their interest rates by almost double that of the RBA.
Sydney House Prices Trump London and New York
Sydney continues to outpace global capitals such as London and New York when it comes to median house prices. Recent figures show that the median price of a two- to three-bedroom house in Sydney is $651,000 compared with $462,000 in London and $460,000 in New York. "High house prices are directly linked to the worsening housing shortage in Sydney," says REINSW President Wayne Stewart.
Big Four Banks Caught out over Costs
The big four banks have fattened their margins while complaining about being squeezed, new figures reveal. As Parliament prepares to debate legislation forcing banks to lift rates by no more than the Reserve Bank, figures from the Australian Prudential Regulation Authority indicate the average rate paid by the big banks on money they borrowed rose by less than the official cash rate.
Refinance or Stay Put ?
The strategy: To work out whether it's worth refinancing my home loan. I'd love to do it but aren't all the banks as bad as one another? It's a fair question but even standard variable rates vary by more than 1 per cent between lenders.
How to Beat the Fees
Though changing mortgage lenders may be getting easier, there is a negative to a quick exit. If extortionate exit fees have had you trapped in an expensive mortgage, you are hostage no more. Two massive advances within hours just recently should see these fall dramatically, freeing you to reap the huge savings on offer from cheaper, better products. So what happened? And is it really so good?
Housing Bubble a 'myth' : Westpac
Australia's housing market is not in the grip of a bubble, although an acute shortage in housing is continuing to support prices, which are set to rise further over the medium term, a report by Westpac Economics has found. The report, Australian housing: the bubble myth, follows concerns raised by global investors that Australian banks are too exposed to an overheated property market.
Australia Leads World in Property Price Growth
Australia's property price growth is the fifth best in the world, according to a new report. The latest Knight Frank Global House Price Index found house prices rose by 18.4 per cent in Australia throughout the year to June 2010. Singapore enjoyed the best property price growth - with prices surging 37.0 per cent in the year to June.
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