Can I 3D print a house?

Are you depressed by the expensive price of houses and home and land packages in Australia? Have you considered looking for an affordable, empty block [...]

POSTED ON December 18, 2019
What is Facebook Pay?

It makes paying and sending money as easy as inserting an emoji into a text message. Facebook’s Libra cryptocurrency project may be struggling but another [...]

POSTED ON November 26, 2019
Retirement costs go up

The cost of a comfortable retirement rose by 1.1 percent to $49,502 a year in the March quarter according to Westpac and the Association of [...]

POSTED ON August 15, 2008
Big mortgage insurer bought by big insurer

Mortgage insurer PMI Australia and New Zealand, and its sister business in Hong Kong, are being bought by QBE insurance in a deal believed to [...]

POSTED ON August 15, 2008
Switching service gathers dust

Fewer than 10 customers had made use of the new bank account switching service at one major bank with demand for the service appearing to [...]

POSTED ON August 15, 2008
Profit up for IMB

Building society IMB has announced an increased profit result, up 8 per cent to $21.6 million. Deposit funding grew by $226 million or 8.2 per [...]

POSTED ON August 14, 2008
Commonwealth loses business customers

Commonwealth Bank share of business lending fell during the 2007/08 financial year - from 12.4 to 12.2 per cent if you follow the APRA figures; [...]

POSTED ON August 14, 2008
Banks have no excuses for not cutting rates

Interest rates on 90-day bank bills have fallen by half a percentage point over the past three weeks leaving banks no with no excuses for [...]

POSTED ON August 14, 2008
Green light from regulator for St George/Westpac

The Australian Competition and Consumer Commission has concluded that the proposed acquisition of St George by Westpac is unlikely to substantially lessen competition under section [...]

POSTED ON August 14, 2008
Credit crunch to get rocky

Seventy five per cent of institutional investors in North America and Europe expect more big financial institution failures within the next 12 months. Sixty per [...]

POSTED ON August 13, 2008
Banks hold on to rate cuts

All banks will probably hold back at least some of the expected RBA interest rate cuts from borrowers. None of the four major banks will [...]

POSTED ON August 13, 2008
Commonwealth banks profits

Australia's second largest lender, Commonwealth Bank of Australia Ltd (CBA), posted an annual cash net profit of $4.73 million and says it will maintain its [...]

POSTED ON August 13, 2008
St George on track for big profit

St George bank has contained its bad debt exposure to the likes of Centro Properties, Allco Finance and Octaviar and expects to achieve the guidance [...]

POSTED ON August 13, 2008
Struggling seniors should sell up

Elderly Australians are asset rich but income poor according to a new study released yesterday by the Social Policy Research Centre at the University of [...]

POSTED ON August 13, 2008
Deposits pour in at St George

St George Bank has grown its retail deposit book by almost 19 per cent over the past year and in the process has been able [...]

POSTED ON August 13, 2008
Profit surges up for Bendigo & Adelaide

Bendigo and Adelaide Bank reported that after tax profit rose 40 per cent to $170 million for the year to June 30 2008. Bendigo shares [...]

POSTED ON August 12, 2008
NAB looks to expand into shares

National Australia Bank is trying to buy Citi Smith Barney, the domestic retail and private client arm of investment bank Citi but has not yet [...]

POSTED ON August 12, 2008
RBA tips unemployment to rise

The Reserve Bank of Australia expects the economy to generate 80,000 new jobs in the next year, down from about 250,000 per year in recent [...]

POSTED ON August 12, 2008
Outsourced personal info to get safeguards

The Australian Law reform Commission has recommended that if an organisation in Australia transfers personal information about an individual to a recipient outside Australia, the [...]

POSTED ON August 12, 2008
Commission wants better credit reporting

The Australian Law Reform Commission has recommended for improvements to data quality and security for credit reporting agencies. The ALRC has recommended that the credit [...]

POSTED ON August 12, 2008
Comprehensive credit reporting rejected

Lenders have been disappointed by the Australian Law Reform Commission report that has rejected comprehensive credit reporting which details a consumer's repayment record, rather than [...]

POSTED ON August 12, 2008
Credit laws get reviewed

Lenders will learn more about applicants for loans under proposals to change credit reporting laws expected to be delivered to the government today by the [...]

POSTED ON August 11, 2008
Smoke and mirrors cost ANZ

ANZ is the biggest loser from the spectacular failure of electronic payments company Bill Express. As a result of margin lending activities ANZ is estimated [...]

POSTED ON August 11, 2008
Shareholders review Members Equity bank

Members Equity Bank is to be subjected to a strategic review of its direction by its four largest industry fund shareholders. Melbourne consultants LEK have [...]

POSTED ON August 11, 2008
Workers and taxpayers to pay for better super

Workers and taxpayers will shoulder the financial burden of providing better superannuation outcomes for employees because the government has ruled out raising the nine per [...]

POSTED ON August 11, 2008
Temporary residents can collect their super

Temporary residents will now be treated the same under superannuation law as Australians under changes announced by the Government that reverses a previous decision. In [...]

POSTED ON August 11, 2008
House prices to fall for another year

House prices will continue to fall for six to twelve months as unemployment rises say industry experts. More investor activity is expected in the next [...]

POSTED ON August 11, 2008
Westpac emerges

Westpac is expected to emerge from this earnings reporting season as the best placed bank amongst the big four in dealing with the global debt [...]

POSTED ON August 11, 2008
Agent buys half price house

It is not illegal to offer $150,000 for $300,000 property, the Victorian County Court was told yesterday. Real Estate Agent John Talia of Ray White [...]

POSTED ON August 8, 2008
Mortgage broker posts strong sales growth

Australia's largest mortgage broker, Australia Finance Group, reported sales in July 2008 were 17 per cent up on June. Total July sales for AFG were [...]

POSTED ON August 8, 2008
NSW willing to give up stamp duty

The NSW government says it would be willing to abolish stamp duty on property if it were compensated by the federal government. A Treasury discussion [...]

POSTED ON August 8, 2008
Grocery Choice website is a farce

The federal government's new $13 million Grocery Choice website is a farce that treats independent retailers unfairly says the National Association of Retail Grocers of [...]

POSTED ON August 7, 2008
Banks may not pass on rate cuts

New mortgage sales fell in the first half of 2008 by 25 per cent according to the Australian Bureau of Statistics. CommSec said the figures [...]

POSTED ON August 7, 2008
Aussie on the prowl

Aussie Home Loans loan volumes have dropped 15 per cent from $1 billion to around $850 million per month, however the company was faring better [...]

POSTED ON August 7, 2008
Wealth managers struggle

Fund inflows across the wealth management industry continue to fall. The worst March quarter ever for flows in to investment products has raised expectations of [...]

POSTED ON August 6, 2008
Consumer demand for credit dries up

Consumer demand for credit flattened in the June 2008 half, according to the latest Veda Advantage consumer credit demand index. Consumers made 3.26 million applications [...]

POSTED ON August 6, 2008
No one understands financial issues

Men had a better level of financial literacy than women but both sexes lacked a basic understanding of key concepts like compound interest credit card [...]

POSTED ON August 5, 2008
New US mortgage crisis brewing

A much larger number of mortgages are set to fail in the USA than have already failed since the beginning of the sub-prime crisis one [...]

POSTED ON August 5, 2008
Suncorp faces losses

Suncorp faces losses of $800 million and is considering a plan to axe 1,500 jobs according to the Sydney Morning Herald. Storm claims have cost [...]

POSTED ON August 5, 2008
Credit card surcharging widespread and growing

Surcharging may be becoming more common on credit card payments, data published by East & Partners suggests. East said that among very large merchants, up [...]

POSTED ON August 5, 2008
Account switching is too much trouble

Fifty-four per cent of the 2,000 respondents to a Research International banking survey said changing bank accounts was more trouble than it was worth, up [...]

POSTED ON August 5, 2008
House prices falling

House prices fell 0.3 per cent in the June quarter, and gained 8.2 per cent in the year to June according to the Bureau of [...]

POSTED ON August 5, 2008
DIY super outperforms

Self managed super funds returned an average of 14.2 per cent excluding costs and contributions, in the year to May 2008, according to a survey [...]

POSTED ON August 4, 2008
Suncorp’s bank business slows sown

Suncorp expects a significant slowdown in lending in the group's banking operations in the current financial year, chief executive John Mulcahy said. On Friday the [...]

POSTED ON August 4, 2008
Hard to make ends meet on $273/week

Pensioners need an immediate raise in the base pension rate by $30 per week say seniors lobby groups. Single rate pensioners on $273 per week [...]

POSTED ON August 4, 2008
Markets price in rate cuts

Markets have priced in the chances of a rate cut at this month's Reserve Bank board meeting at 30 per cent. The chances of a [...]

POSTED ON August 4, 2008
Banks fatten up for lean times ahead

Banks are enjoying rising profit margins and less competition from non-bank lenders says a new report from Infochoice. Home repossessions are also rising to a [...]

POSTED ON August 4, 2008
Market unimpressed by new NAB boss

NAB shares fell 76 cents yesterday to $24.70 following the announcement of the departure of John Stewart and the appointment of his successor as CEO [...]

POSTED ON August 1, 2008
Credit growth stalls

Growth in the amount of money Australians owe their banks and other lenders has slumped to its lowest level since 1993. Credit growth was up [...]

POSTED ON August 1, 2008
Banks maintain credit ratings

Commonwealth Bank and Westpac are both expected to announce write downs for bad debts, but neither are expected to release news as bad as NAB [...]

POSTED ON July 31, 2008
Best advice goes public

Financial planning collective, the Best Advice Project, will list on the ASX by the end of the year. Eleven financial planning firms are members of [...]

POSTED ON July 30, 2008
Rocky times for whole financial group

Rockstead Financial Services has followed its subsidiary First Capital Securities into voluntary administration. The ASX-listed asset management and property finance group announced yesterday that it [...]

POSTED ON July 30, 2008
PayPal sets up compensation fund

eBay Australia's seventh largest power seller has gone bust leaving thousands of online shoppers out of pocket. PayPal Australia has established a special fund to [...]

POSTED ON July 30, 2008
NAB rejects interest rate plan

State government plans to regulate bank interest rates would reduce the effectiveness and efficiency of the banking system said Ahmed Fahour, chief executive of NAB. [...]

POSTED ON July 30, 2008
Business customers are happy with their banks

Overall business customer satisfaction with financial institutions has risen 5.2 percentage points in the six months to June and 8.1 percentage points in the year [...]

POSTED ON July 30, 2008
Credit Unions and Bendigo Bank are favourites

According to the latest Roy Morgan Research customer satisfaction survey the only bank to improve its rating over the year to June was BankWest, which [...]

POSTED ON July 30, 2008
City Pacific investors must wait

Investors in City Pacific Mortgage Fund will be made to wait up to a further 180 days for any redemption request, dragging out the waiting [...]

POSTED ON July 29, 2008
ING is a big banker

ING Direct chief executive Dick Harryvan says the bank has aspirations to be the biggest financial services group in the world within five to seven [...]

POSTED ON July 29, 2008
Super crash

The median balanced super fund lost 3.9 per cent in June, and 6.39 per cent over the year to June according to data released by [...]

POSTED ON July 29, 2008
Centrelink compensates share losses

People receiving a part pension from Centrelink can boost their entitlements if they can show that their assets have declined in value since last valued [...]

POSTED ON July 28, 2008
Lenders repossess homes for arrears of $1,000

Lenders are becoming more aggressive about repossessing homes occupied by people in default on their mortgages. Non-bank lenders are said to be particularly quick to [...]

POSTED ON July 28, 2008
Depositors cash in

Investors are cashing in on high rates of return from simple deposits in the bank, as market turmoil drives other investments down. Banks are desperate [...]

POSTED ON July 28, 2008
Housing costs keep kids at home

About one in five people aged 25 to 29 are still living in their parent's home, compared to just ten per cent twenty years ago, [...]

POSTED ON July 25, 2008
Suncorp says no more equipment lending

Suncorp earlier this week advised many finance brokers not to submit any more applications for equipment finance until further notice. The bank did not confirm [...]

POSTED ON July 25, 2008
Profiteering banks resist competition

The Commonwealth Treasury has suggested that Australian banks are profiteering from customers. In a submission to a parliamentary committee looking at the issue of competition [...]

POSTED ON July 25, 2008
CBA eyes ABN Amro for CommSec

Commonwealth Bank entered exclusive negotiations with ABN Amro's owners The Royal Bank of Scotland yesterday to buy the Australian arm of the Dutch bank. Analysts [...]

POSTED ON July 24, 2008
Low doc borrowers late with repayments

More than fourteen per cent of borrowers who have non-conforming loans are in arrears, a percentage that has stabilised over the last quarter. Total home [...]

POSTED ON July 24, 2008
Australia needs more saving

Tax incentives to encourage saving are needed to help Australia through the global credit crunch say leading business figures. Restrictions on lending could be eased [...]

POSTED ON July 23, 2008
Mortgage stress overstated

RFI research director Alan Shields said there was no evidence of deterioration in mortgage stress despite the findings of the Genworth Financial Mortgage Trends Report [...]

POSTED ON July 23, 2008
Banks fee take keeps rising

Banks have raised the amount of income they get from fees by nine per cent. The big five banks took $5.5 billion from customers in [...]

POSTED ON July 23, 2008
One in four suffer mortgage stress

Twenty four per cent of borrowers expect to experience mortgage difficulties in the coming twelve months according to new research from mortgage insurer Genworth. Home [...]

POSTED ON July 23, 2008
NAB panders to Wayne Swan

National Australia Bank is pandering to the government in launching a home loan with no early exit, discharge or settlement fees, says banking industry newsletter [...]

POSTED ON July 22, 2008
Rumours circle BankWest

Commonwealth Bank is rumoured to be interested in buying BankWest as analysts speculate about HBOS selling the Perth based bank. HBOS has denied that the [...]

POSTED ON July 22, 2008
Take a super deep breath says government

Australians should expect their super fund to have lost about 6 per cent of their retirement savings this year said the minister for superannuation, Senator [...]

POSTED ON July 22, 2008
DIY super goes to cash and term deposits

The self managed superannuation funds sector continued to expand during the 2008 March quarter. The number of SMSFs at the end of March was 378,656, [...]

POSTED ON July 21, 2008
Depositors get nine per cent return

Depositors can get returns from high interest online savings accounts and term deposits right now as the banks turn to retail deposits amid ongoing credit [...]

POSTED ON July 21, 2008
ANZ and NAB face most debt strife

Analysis by Citibank suggests ANZ and NAB have the greatest exposure to problem structured credit entities and also credit default swaps of banks in Australia. [...]

POSTED ON July 18, 2008
CBA not a St George buyer

Commonwealth Bank CEO refused to rule out placing a bid for the Australian arm of Dutch Bank ABN AMRO in a deal believed to be [...]

POSTED ON July 17, 2008
Global banks target affluent travelers

Citibank joined HSBC last month in offering a global transaction banking and investment account for affluent customers. These accounts make it easier for frequent travellers [...]

POSTED ON July 15, 2008
Credit unions offer green loans

Community CPS Australia and Savings & Loans are two credit unions offering substantial interest rate discounts on loans for environmentally worthwhile purposes. Community CPS have [...]

POSTED ON July 15, 2008
NAB, AMP and Suncorp raise rates

National Australia Bank has followed CBA, ANZ and St George and announced that interest rates on its home loans will rise 0.15 per cent to [...]

POSTED ON July 15, 2008
NAB shareholders cool on reinvesting dividends

Shareholders in National Australia Bank have largely spurned the opportunity to reinvest into the bank through its dividend reinvestment plan. The bank on Friday confirmed [...]

POSTED ON July 14, 2008
Government is propping up the banks

National Australia Bank and Westpac are expected to announce that they will raise their home loan interest rates this week, following announcements by St George, [...]

POSTED ON July 14, 2008
Commonwealth, ANZ raise rates

Commonwealth and ANZ banks have followed St George and raised interest rates on their home loans outside of moves by the Reserve Bank. The Commonwealth [...]

POSTED ON July 14, 2008
AMP Bank channels more mortgages

AMP Bank has increased the size of its mortgage loan portfolio by 19 per cent in the year to May and nine per cent in [...]

POSTED ON July 11, 2008
ANZ pays premium prices for debt

ANZ Bank successfully finalised pricing for a rare issue of five-year debt on Wednesday night in a transaction that confirms how expensive genuine term funding [...]

POSTED ON July 11, 2008
Banks circle Wizard

Wizard home loans could be sold or made the subject of a joint venture or other strategic partnership by its owners GE Money. GE Money [...]

POSTED ON July 11, 2008
Government debt agency needed

Australia needs a national government program that would buy mortgage debt from banks and lenders and sell it on to investors for a fixed rate [...]

POSTED ON July 11, 2008