The Commonwealth economic organization says fears about borrowers falling off the fixed rate property loan cliff have largely been averted as households find work arounds in the face of higher finance charge rates. The bulk of CBA’s remaining fixed rate loans rolled on to variable rates in September last year. The Commonwealth economic organization says … Read more
There’s evidence of a three-fold increase in ‘liar loans’ on home loan applications, according to new data. More people trying to break into the property industry are either overstating their earnings or understating their costs but the banks are catching them out. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2023-12-05/more-liar-loans-as-people-see-higher-finance charge-rates-house-prices/103167392 The data comes as hundreds of … Read more
A growing number of homeowners are being sent bankrupt because of debts owed to body corporates over the upkeep of building complexes. Consumer groups say it often starts as a small amount but quickly escalates once fees and charges are added, landing some Australians in court. Strata companies are facing calls to offer hardship arrangements. … Read more