Exit Fees | Refinancing.com.au News

Archive for the Exit Fees category

Feb

The cost of refinancing the mortgage

posted by admin in Banks, Exit Fees, Home Loans, Mortgage Refinancing

Finally, disgruntled bank customers will be able to switch home loans with impunity from the middle of next year under an overhaul of the banking sector designed to break the dominance of the big banks. It appears that there is a "war" on between the banks. The simple fact however is that since the...Read more...

Feb

Populism and the banks

posted by admin in Banks, Exit Fees

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ANZ's chief executive Officer Mike Smith says that populism may make Australia unattractive to international investors. Mr Smith has told the Senate inquiry on banking competition that competition within Australia's retail deposit market has never been so intense. He said interest rates on deposits have...Read more...

Feb

Home Loan exit fees abolished

posted by admin in Exit Fees, Mortgage Refinancing

comments (8)

Late December 2010, the Treasurer Wayne Swan revealed the Government’s proposal to abolish home loan exit fees. The initiative is designed to afford Australian consumers greater flexibility and choice when it comes to their banking. The announcement said that home loan exit fees will be abolished...Read more...

Feb

Rising Interest Rates Predicted for 2011

posted by admin in Exit Fees, Interest Rates, Mortgage Refinancing

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While the official mortgage interests rates are likely to remain static through February, a leading economic forecaster is predicting a 1% on variable mortgage rates by late 2011 or early 2012. This means that a homeowner with a $300,000 can expect his monthly repayments to rise from $2275 to $2476 or...Read more...

Feb

Small Lenders Protest Proposed Ban on Exit Fees

posted by admin in Exit Fees, Mortgage Brokers

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Small mortgage lenders in Australia are protesting that the government's proposed ban on exit fees will have far more impact on them than on the major banking institutions. The mortgage companies are claiming that the exit fees cover the cost of loans which leave within 5 years since it takes that long...Read more...

Dec

Eradicating Excessive Exit Fees

posted by admin in Exit Fees, Mortgage Refinancing

comments (2)

On January 1, 2011 there will be changes on a structural level in loan writing. This is where real competition could open up and offer highly indebted borrowers and new home buyers some welcome relief. The National Consumer Credit Protection act is being introduced and will effect us all in two ways....Read more...