Some experts with more knowledge than us are commenting that we appear to be at the bottom of the interest rate cycle. Governments and lenders are increasingly confident our domestic economic recovery will continue over the coming months and years. This means the expectation for long term rates…
Something strange just happened !
With the first Reserve Bank interest rate rise since November 2010 came a flurry of enquiry about a loan review, fixed rates and what’s next for borrowers. Interestingly when interest rates were holding steady borrowers were less concerned about what rate they were on. The fact is…
When is a hike not a hike!
Well it didn’t take long for the media to start their sensationalist reporting about interest rate rises. I was intrigued to hear a news report today that called the recent 0.25% increase a hike. The meaning of hike is “a sharp increase, especially in price” It should be…
Stop the stress – create a fighting fund!
Well we’ve been bombarded with negative news this week. Inflation running at 5.1% per annum. Pressure on the Reserve Bank to increase the cash rate with some saying the next increase may be 0.4% per annum followed quickly by a couple of 0.25%’s. This move would increase variable…
Beware the Headlines
Imagine how many newspapers would sell if the headline was “Everything well in the world today, prosperous times for years to come” Not many I would guess. Two headlines that grabbed my attention in the past few weeks. “Household debt to double by 2024” and …
We don’t just do Home Loans
Hi At Onyx Finance we have been providing Residential Finance solutions for 20 years. However did you know we also provide solutions for all of your finance requirements such as: Personal Loans Onyx Finance can arrange personal loans that allows you to borrow to pay for a car, boat, motorhome or…
Don’t give up on your dream of home ownership
First up and most importantly our thoughts are with everyone caught up in flood-ravaged locations. They say desperate times call for desperate measures, and perhaps that’s the situation Australian home ownership finds itself in.Once a dream, fulfilled by most, it’s become a…
Government Schemes and Grants for First Home Buyers
There are various schemes and grants available to first home buyers from the State and Federal governments. First Home Loan Deposit Scheme Buy your home with as little as 5% deposit and no Lenders Mortgage Insurance. To be eligible you must: not have owned property in Australia before be an…
Seven Finance Tips in 2 Minutes
Here are seven tips to assist you when preparing to apply for finance: Check your credit file. It’s free at www.mycreditfile.com.au and it’s important you know where you stand before you start considering a loan. Watch what appears on all of your bank statements. Lenders have…
How might APRA’s intervention affect the property market?
The Property Council of Australia (PCA) relayed to the public that it understands the rationale behind APRA’s decision to increase interest buffers on home loan applications. But, it has requested potential impacts be monitored into the new year before any further action to further tighten…