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5 reasons it’s a good time to refinance

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.  Before we go any further though, we want to say we…

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l1st

Further protections for businesses: loan deferral scheme extended

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. Two weeks back, the Australian Banking Association (ABA) announced that if your small business was being…

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Need to pause your mortgage repayments? Here are the banks’ deferral policies

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. Late last week the Australian Banking Association (ABA) announced that small businesses affected by the…

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Loan repayments deferred six months for small businesses affected by COVID-19

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). ABA CEO Anna Bligh today announced a small business relief package from Australia’s banks. “Small businesses can rest assured that if they need help, they will get it,” Ms Bligh…

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RBA cuts cash rate to record low 0.25% amid COVID-19 outbreak

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. RBA Governor Philip Lowe said in a statement the move was due to the virus causing "major disruptions to economic activity across the world".…

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Homeowners impacted by COVID-19 encouraged to contact lender

Homeowners who have had their income impacted by the coronavirus outbreak are being encouraged to seek out hardship options with their lender. The economic impact of the coronavirus outbreak is evolving daily, if not hourly, across the Australian financial landscape. Businesses have closed, jobs have been lost, and casual workers have had their hours slashed…

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The coronavirus economic stimulus plan for SMEs explained

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. Indeed, the government estimates its two new business investment initiatives have the capacity to support more than 99% of…

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First home buyer numbers spike to 10 year high

First home buyers are throwing themselves into the property market in numbers not seen since 2009. The number of owner-occupier first home buyer loan commitments reached its highest point in ten years in January, with newcomers taking out 9,945 loans (seasonally adjusted), according to ABS data. That’s a 3.2% rise on the previous month and…

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SME owners impacted by coronavirus urged to contact creditors

SME owners concerned about the coronavirus outbreak impacting their cash flow are being urged to talk to their creditors as soon as possible. Earlier this month the RBA cut the official cash rate by 25 basis points to a new record low of 0.50% due to the impact of the coronavirus outbreak on global financial…

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RBA cuts cash rate to record low amid coronavirus concerns

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…

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