Policy Changes

Breaking Down The Award Wage Increase By Fair Work Commission

personOtto Dargan access_timeJuly 26, 2023

The Fair Work Commission (FWC) recently unveiled a 5.75% increase in award minimum wages and a new national minimum wage of $23.23 per hour (up from $21.28 per hour), starting from 1 July 2023. This news is a welcome change for low-paid workers who have been grappling with...

Read more

Westpac Introduces Streamlined Refinance Policy

personOtto Dargan access_timeMay 24, 2023

Westpac recently launched its Streamlined Refinance policy to help customers. What Is Westpac’s Streamlined Refinance Policy? This new policy is designed to make refinancing easier and more accessible to customers who meet certain eligibility criteria, so they do not...

Read more

folderCategory: Policy Changes


Refinance Now Or Wait: Is The Peak Of Interest Rate Increases Behind Us?

personOtto Dargan access_timeFebruary 28, 2023

Refinancing can be a smart financial move for homeowners looking to save money in the long run or reduce their short-term living expenses. Despite the record numbers of mortgage holders who have already taken advantage of refinancing, many have yet to explore whether they could...

Read more

Super Home Buyer Scheme

personOtto Dargan access_timeMay 17, 2022

error The Super Home Buyer Scheme was proposed by the Coalition. Since the Coalition lost the 2022 federal election, this scheme will not be available. With affordability already low and a decreasing housing supply, Prime Minister Scott Morrison has announced a proposal...

Read more

What Is The RBA Cash Rate And How Does It Affect Your Mortgage?

personOtto Dargan access_timeNovember 1, 2021

Interest rates are on the rise. Home Loan Experts can help you save money in this difficult environment. Call 1300 889 743 or fill in our free assessment form to speak to one of our expert brokers today! close info Interest rates are on the rise....

Read more

Banks Now Accept Self-Employed Salary As Income

personOtto Dargan access_timeSeptember 30, 2021

If you’re self-employed and you get a regular salary from your business, you can now use it as income to apply for a home loan. Before this change, most lenders required self-employed borrowers to provide at least 2 years’ worth of tax returns, financials and...

Read more

Responsible Lending Laws To Be Terminated By March 2021

personOtto Dargan access_timeSeptember 25, 2020

What are responsible lending laws? The Rudd Labor government tightened the responsible lending law in 2009 following the GFC. The laws required lenders to make more of an effort to figure out whether would-be borrowers can afford to repay their debt. The responsible lending...

Read more

NAB Guarantor Home Loan Withdrawn

personOtto Dargan access_timeJune 2, 2020

Effective from 25 May 2020, NAB will not accept parents as guarantors on their home loans or investment loans. NAB will not be able to do no deposit home loans for first home buyers who want to use their parents on their home loan. It updated their guarantor lending policy...

Read more

Major Bank Cuts Lending To 33 Postcodes

personOtto Dargan access_timeOctober 16, 2016

In a surprise move on Friday, National Australia Bank (NAB) announced that it was expanding its restricted postcode list to include many more inner city and regional areas. The bank will now restrict lending in these areas by requiring people to have a larger deposit or more...

Read more

Is Your Property Located In One Of These Risky Suburbs?

personOtto Dargan access_timeSeptember 30, 2015

Did you hear? Your suburb may be on a list of high risk postcodes as identified by one of the Australia’s biggest banks! National Australia Bank (NAB) has identified 40 suburbs where “significant deterioration in credit risk has been observed” and a further 43 suburbs...

Read more