Responding to the RBA’s 0.15% interest rate reduction, Household Capital went further, lowering its rate by 0.20% to a home equity access rate of just 4.95%
Personal loan provider Fair Go Finance has partnered with Equifax to conduct joint research into the impact of COVID-19 on people’s credit scores.
SME lending is a valuable source of diversification for brokers says fintech lender OnDeck Australia
The Banking Royal Commission has highlighted the perils of relying on a single revenue stream, and SME lender OnDeck Australia is urging mortgage brokers to think beyond home loans and diversify into SME lending. Research by commercial lending fintech OnDeck Australia confirms that 25 percent of Australia’s small to medium enterprises plan to seek additional business finance. Michael Burke, Head of Sales at OnDeck Australia, says, “There is clearly strong demand for SME finance, making this a revenue channel that brokers cannot afford to overlook. Moreover, our discussions with brokers indicate that, on average, one in four of a broker’s existing home loan clients are SME owners, providing a ready […]
A new YouGov study of small businesses in Australia has found the lengths that small businesses owners go to make a success of their ventures. The research, commissioned by Australia’s number one online lender to small business, Prospa, shows that more than half (54%) of small business owners spend 6-7 days a week on their business, with one in four (28%) working 7 days a week. Even when not at work, small business owners continue to be engrossed, with almost three-quarters (73%) agreeing that concerns around their business prevent them from relaxing during the holiday period. Overall, nine in ten small business owners feel distracted by work in other areas of their […]
With the Christmas festive season fast approaching, many Australians are gearing down and getting ready to drop a fair bit of cash over the summer months. As Christmas is known to be the most expensive time of year, the lead up to it can prove to be quite a stressful time for many Australian households. Nifty Finance is offering Australians an affordable, easily accessible and convenient way of carrying their finances through the Christmas months. The Brisbane-based Fintech company is quickly proving to be a viable alternative to the usual methods of coping with temporary financial needs, especially over the holiday period. Managing director of Nifty Finance, Andrew Bell, stated […]
Online mortgage broker uno Home Loans has introduced technology that delivers refinancers a credit proposal for a cheaper home loan in the time it takes to drink a coffee. Watch the video here. The new refinancing pathway on uno’s platform digitises the process to combine a property valuation; ID verification; instant credit check; collection of current loan details; verification of income, expenses and liabilities; and assessment with credit policies from nine lenders. This expedited process – which would take days with a traditional broker – addresses a major barrier to more Australians refinancing and saving. uno Home Loans Founder and Chief Innovation Officer Vincent Turner said, “Many Australians know they […]
New scholarship announced to grow future FinTech leaders FinTech may be the talk of the town, but it’s nothing if it doesn’t move forward. To ensure the industry keeps innovating, and to give back to the country supporting their battle against the ‘big dogs’ of the FinTech world, Nifty Personal Loans (Nifty) has launched a scholarship program. To pave the way for the business and finance leaders of tomorrow, Nifty has announced that they will be giving one Bachelor or Masters Business, Finance or IT student a helping hand in the form of a $2500 lump sum each semester which can be used for university fees, resources and technology, research materials […]