Category: News
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RBA August 2022 Cash Rate Decision
The RBA Board decided at its August meeting today to raise the cash rate target by 50 basis points, to 1.85%. It also raised the interest rate on exchange settlement balances by 50 basis points, to 1.75 percent. The Board’s top priority is to get inflation back to between 2% and 3% over time while…
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Queensland Land tax and interstate property changes
Effective June 30, 2023, the Queensland government is changing the calculation method for how they levy land tax on the value of Australian land. Simply put, this is a tax grab by the Queensland Government. I am sure they will dress this up on how the additional revenue will assist Queensland residents, but this is a lazy…
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RBA June 2022 Cash Rate Decision
The RBA concluded their June meeting and have increased the central cash rate by 50 basis points to 85 basis points. This is on the back of their May meeting of increasing by 25 basis points. First increase in 10 and ½ years and now back to back increases. It certainly looks like the RBA…
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Australian banks change lending standards
Australian banks have changed lending standards On the 5th July, APRA announced that it would be making an adjustment, following a consultation period to APG 223 (Prudential Practice Guide to Residental Mortgage Lending). This proposal was to scrap the current minimum 7% floor applied when seeking a new residential mortgage and instead revise by applying…
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Getting an Australian Mortgage whilst living in the UK
This article will explore how you can obtain an Australian mortgage whilst you are living in the UK. Perhaps you are an Australian expat, married to a foreign national or a non-resident looking to invest in Australian property. This article will discuss the implications of GBP foreign income you generate and the impact on your…
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RBA June 2019 Cash Rate Decision
RBA June 2019 Cash Rate Decision RBA board has met on Tuesday the 4th of June 2019 and decided to cut the cash rate by 25 points to 1.25%. This represents the first cash rate cut since 3rd August 2016 (nearly 3 years). The federal election has been won and done and the RBA has…
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Mortgage Repayments – Impact of USD/AUD FX Movements On Loan Repayments April 2019
USD AUD FX April 2019 Here is a chart on the foreign exchange (FX) fluctuations in the USD AUD April 2019 on the value of the mortgage repayments, on an Australian mortgage as of the end of November 2018. For this example, assumed an Australian Mortgage of $400,000 (AUD). Amortized over 30 years, with a 4.50% interest…
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RBA May 2019 Cash Rate Decision
RBA May 2019 Cash Rate Decision RBA board has met on Tuesday the 7th of May 2019 and decided to leave the cash rate unchanged at 1.50%. The cash rate has now been unchanged for nearly three years. With an election around the corner, the mood from the RBA has been a wait and see…
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What is my Australian property worth in 2019?
What is Australian property worth in 2019 and what are the different types of valuations that impact the mortgage application process
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What is Common Reporting Standard (CRS) and how does it impact Australians Expats?
What is Common Reporting Standards CRD and how does it impact Australians living abroad and their expat mortgages