Category Archives: Finance news

Scott Morrison: more banks means cheaper loans

Bank

Treasurer says make it easier for ADIs to call themselves banks will encourage new wave of fintech lenders The Government is going to make it easier for authorised deposit-taking institutions to call themselves banks, in the hope it will reduce the cost of loans. The benefits to the customer are simple – cheaper loans.Morrison pointed to the UK, where easing usage of the word bank in 2013 encouraged the growth of new digital banks such as Monzo and Starling. However, there has been only one new bank licensed in the last decade that was not already anADI or subsidiary of a foreign bank.

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Image courtesy of mpamagazine.com.au

ASIC questions legality of bank rate hikes – The Adviser

   Property Investors feel the pain. If you are a Property Investor you would have seen your Investment Loan Rates rise rapidly during the last few months. Asic has been instructing Banks and other Lenders to slow down the Investment Lending and particularly Interest Only Loans. But it’s been a bit hard to understand theContinue Reading

Who Will Pay the New Bank Tax?

With the recent announcement by the Federal Government that they are going make the Major Banks help with budget repair by slugging them with a new tax,the question is being asked, who will really end up paying?   Mortgages will bear the brunt of the federal government’s new big bank tax, according to one analyst, who believesContinue Reading

Can Scott sell us a good Budget story that we’ll buy?

By Peter SwitzerThe smartest move the Turnbull Government has made in recent times is this change of narrative around more understandable concepts, such as good debt and bad debt. Ahead of the Budget on the second Tuesday in May, the use of terms that two important audiences comprehend is vital. In case you missed it,Continue Reading