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Should retirees be encouraged to draw down on their home equity?

A “more optimal” retirement income system would involve retirees “more effectively” drawing on home equity to fund their standard of living in retirement, a government review has found

Should retirees be encouraged to draw down on their home equity?
Self-employed shut out from home loan deals: Pepper

Self-employed borrowers have been unable to access many current lender home loan promotions due to the stringent criteria, according to one lender.

Self-employed shut out from home loan deals: Pepper
Bank cuts fixed home loan rates

A non-major bank has joined others in reducing fixed home loan interest rates in response to the RBA’s Melbourne Cup Day rate cut.

Bank cuts fixed home loan rates
NSW to offer interest-free loans in cladding removal project

The NSW government has said that it will provide building owners with “high-risk combustible cladding” with access to interest-free loans solely for the use of rectifying combustible ...

NSW to offer interest-free loans in cladding removal project
1 in 5 prioritises ‘buy now, pay later’ payments

Twenty-two per cent of “buy now, pay later” customers have prioritised paying this debt off over loan repayments or bills.

1 in 5 prioritises ‘buy now, pay later’ payments
Mortgage prisoner trap hinders refinance goals

While a majority of mortgage-holders would like to switch lenders, many have become “mortgage prisoners” as a result of COVID-19, according to research.

Mortgage prisoner trap hinders refinance goals
Capital city clearance rates continue to rise

Clearance rates across major capital cities have once again risen, proving the continuous recovery of the property market following the COVID-19 outbreak.

Capital city clearance rates continue to rise
Resimac reports drop in payment deferrals

The non-bank lender has reported a significant decline in the number of customers on loan payment deferrals, and a slight rise in home loan AUM.

Resimac reports drop in payment deferrals
Owner-occupiers drive housing finance bump: CoreLogic

Owner-occupiers and first home buyers have powered a rise in housing finance, while Queensland has taken the lead in housing finance growth, according to new data.

Owner-occupiers drive housing finance bump: CoreLogic
CBA profits dropped in 1Q21 but book continues to grow

The major bank’s book continued to grow in the three months to September, but profits dropped 16 per cent as loan loss provision increase due to COVID.

CBA profits dropped in 1Q21 but book continues to grow
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