Category Archives: Finance news

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 the reason why the Banks have raised the rates of their existing custmers?

now the Government is is also asking this question and the justification.

Se article below

 

The corporate watchdog told a parliamentary hearing this week that the big banks could be in breach of the ASIC Act over the reasons given for hiking interest rates. Chairing the committee was David Coleman MP, who kicked off the questioning by raising the issue of recent rate hikes by the banks. He noted that some banks, in their public justifications for the out-of-cycle rate hikes, have named the regulatory impact but did not name any other factors.

Image courtesy of theadviser.com.au

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