Home Loan Repayment

CBA’s Home Loan Repayment Change

personOtto Dargan access_timeApril 30, 2020

From 1 May 2020, Commbank’s home loan repayment is automatically changed to the minimum, to free up household spending. By only repaying the minimum amount, CBA estimates that it will release up to $400 per month for customers who have been hard-hit by the coronavirus. This...

Read more

Should Banks Automatically Adjust Home Loan Repayments?

personOtto Dargan access_timeNovember 26, 2019

93% of home loan borrowers are making more than the minimum home loan repayments off the back of cash rate cuts by the RBA. This is because currently, banks do not automatically adjust repayments. Basically, if a customer is paying P&I (principal and interest) then when...

Read more