We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.
|
|
|
|
A loan in which the borrower (the mortgagor) offers a property and land as security to the lender (the mortgagee) until the loan is repaid. Repayments of the loan are usually made on a monthly basis over a long period of time, typically 25 years.
Business loans on the rise while mortgage growth remains flat
Business loans on the rise while mortgage growth remains flat
The RBA reported that business lending grew at an annualised rate of 17% in April, up from 16% in March and 14% in February. Lending to large and medium-sized businesses grew while lending to small businesses hadn't changed much "for some time,” the RBA said.
In the past year, business services and finance firms have experienced above average growth. The rental, hiring and real estate sectors have been the main focus of business services firms during that time period.
According to Richard Wiles, analyst at Morgan Stanley, the major banks' mortgage portfolios grew at different rates. ANZ Banking Group grew its mortgage portfolio by 0.5%, Commonwealth Bank of Australia by 4.5%, National Australia Bank by 6.5% and Westpac Banking Corporation 1.5%.
BOQ grew at a similar rate to most other banks, Bendigo and Adelaide Bank had the largest growth with 11.5%.
APRA chairman, Wayne Byres, flagged earlier this week that Australia was on the brink of a “very different” lending environment than that seen over the last few decades. Byres said that Fixed-rate borrowers who were switching to variable rates faced a repayment shock, which would likely leave them in negative equity
Published:Thursday, 2nd Jun 2022
Source:
Share this news item:
| Avoid Hefty Fines: Key ATO Dates to Remember 23 Apr 2024: .Paige Estritori Australians are being cautioned about the possibility of incurring a $313 penalty if they fail to observe two critical Australian Taxation Office (ATO) deadlines looming ahead. As tax season approaches, individuals must take note of these important dates to avoid fines. - read more |
| Inflation Outlook Brightens as Australia Braces for Key CPI Update 22 Apr 2024: .Paige Estritori A crucial announcement regarding consumer prices is forthcoming as the Reserve Bank of Australia (RBA) anxiously waits to steer its future monetary policy decisions. Analysts and economy watchers alike have their eyes locked onto the publication of first-quarter consumer price index (CPI) data from the Australian Bureau of Statistics, set to impact the nation's economic direction. - read more |
| Alarming Rise in Australian Student Loans Calls for Immediate Action 19 Apr 2024: .Paige Estritori A fresh analysis has sparked concern over the surging levels of student debt in Australia, invigorating discussions for policy revisions in the impending national budget. Projections denote that during the initial tenure of the incumbent Labor administration, the cumulative student debt may swell by an extraordinary $12.3 billion, marking a 16% escalation. This upward trend raises alarms for prospective and current students grappling with the financial barriers of higher education, and ignites a dialogue on the urgency of governmental intervention. - read more |
Looking for the best way to finance your business plant & equipment? Well, you need look no further! Simply submit our 2-minute business loan enquiry form ... and we'll help get you qualified for the best rate Plant & Equipment loan available from our national panel of independent business finance brokers. We also have access to the best rates & options for Business Cashflow finance. So, why not give us a go ... no charge, no obligation!
|
Finance Articles
|
