Coronavirus-related bad debt charges of almost $5 billion dominated the latest bank results, but some experts say there is more pain to come.
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Whether experiencing financial hardship through job loss, a reduction in work hours, or business disruption, an increasing number of Australians may be struggling to balance their books as a result of the Coronavirus, and in many cases are wondering how they will continue to pay the bills.
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Written by Emily Sakzewski for ABC News
With many businesses and services forced to close under the latest Federal Government restrictions to try to curb the spread of coronavirus, many Australians are feeling the pinch when it comes to finances. Especially those with a mortgage.
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You already know the importance of maintaining consistent cash flow. Did you know that your business’s assets can be the solution?
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Businesses need capital if they are to grow, and sometimes need finance solutions to raise capital. If you are unable to raise capital through a loan, equity may be an alternative solution.
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Does your business need refinancing or restructuring? As this tale of a business with urgent liquidity problems shows, having a finance broker managing the project can be the key to success.
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Urgent maintenance is an unavoidable aspect of being a landlord, so having a cash buffer set aside will help you deal with any unexpected problems.
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No one likes paperwork; however, providing your broker with the right documentation will save you time and money.
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Saving for a home? If you haven’t met with a finance broker yet, you’re doing it wrong. Here’s why.
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Interest rates are a big factor in each repayment and the total cost over the life of a loan, so staying on top of your current rate as well as the interest trends across the market is essential.
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Refinancing your assets to renovate a property is a significant decision that will hopefully improve your standard of living or add substantial value to your property.
However, refinancing isn’t as straightforward as you might expect. The type of renovation proposed goes a long way to dictating the loan required. If the wrong loan is chosen, you could be left with a pile of unexpected debt.
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While SMEs account for 97 per cent of Australian businesses, it can still be difficult to make a case to a bank when looking for finance to start a new business or invest in the growth of an existing one. The good news is that applying for commercial finance through a bank is far from the only option.
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There is more to selling your home than putting up a ‘For Sale’ sign on your front lawn. Here are the first things you should check off your list to help you get the largest return from your investment and to ensure the process runs as smoothly as possible.
Knowing what a property is worth is central to avoiding paying too much for it.
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Stamp duty is a charge which is applied by state governments in Australia on transactions relating to the transfer of land or property. It is paid upfront and needs to be budgeted for in addition to your loan deposit.
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Jarrod Harrison was well on his way to becoming a first-home owner when issues cropped up prior to settlement that threatened to cost him his deposit.
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Lender’s mortgage insurance (LMI) is required in many instances when a loan is worth more than 80 per cent of a property’s purchase price, as well as in some other circumstances. In very basic terms, when a lender considers a loan to carry a high risk, LMI is likely payable. Here’s how you can avoid paying the costly premium.
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From time to time, a business needs a cash injection. With so many lenders offering a dizzying array of products, it can be difficult to know what to choose.
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A conveyancer is a solicitor, but just deals with property, right? Wrong. The two are different, and it is important to have the right one on your team, in order to avoid paying too much while still getting the advice you need.
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When purchasing an investment property, there are a number of factors that could increase or reduce your potential return on investment. In this case it's not just location, location, location.
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