Ask Alan, Blog and Articles...

This week’s Rate Cut – what should you do and what’s next

The Reserve Bank has lowered the cash rate by 0.25% to 3.85%. Banks are passing this on in full. What Should You Do? When rates rise, the banks increase your repayments – this has caused many people financial stress. When rates fall, however, banks typically leave...

The Rate Cut You’re Having When You’re Not Having a Rate Cut…

The Reserve Bank firmly backed itself into a corner of its own making yesterday, facing external pressure to cut rates. One commentator noted (and I agree) that yesterday’s decision effectively undid the completely unnecessary rate hike of November 2023, which raised...

2025 – The Year Ahead

2025 is a year that contains some absolute certainties, making it one of the easiest in recent times for planning. That said, even though most people crave certainty—even when it stares them in the face and yells loudly in their ear—many still seek that ever-elusive...

iAlan’s tips for the Application Process

So .. You’d like to apply for a loan! Here are the steps to get started – and best of all – I am here as your personal guide to get you though. Once you get through the early stages real Alan will take over. First – you need to create a log in to get through to the...

Too Comfortable too Soon

What is the biggest home loan risk facing most Australians today? We can all accept that we will likely retire later than we once thought. Although maintaining purpose and income for longer is not all bad. Especially if you have taken the time now to invest in your...

How to Buy a House

It’s Spring – The family has grown, you want to be closer to schools… Or … the kids have left, it’s time to downsize … It’s time to shift house. Spending your weekends going to open homes and after a while – it becomes so confusing… My brother recently asked for...

What is going on with Interest Rates…

I have asked you (my clients) many times if you want to know my opinion on why interest rates and house price are as they are. The clear answer is... NO ! What we do want from you – is what should we do… Let me go back a bit first. Every decade has had a defining...

A Budget Thought You Won’t Be Expecting – the THREE mistakes people make.

The Council of Social Services (ACOSS) always makes a submission to the budget. This year it notes that the top 10% of Australians have over $5.2 million in net wealth and that the gap between the top 10% and those below is somehow inherently wrong. It also notes that...

What is a “Tracker Mortgage”?

A report from a government committee has suggested that Australian Banks be forced to issue “Tracker Mortgages” (Aust Financial Review 27 March 2024). Australian banks have unsurprisingly pushed back. A “tracker mortgage” supposedly “tracks” the Reserve Bank cash rate...

Early Retirement – Be careful what you wish for…

I once wrote an article titled “A funny thing happened on the way to the cemetery”. When the pension was conceived, average life expectancy was 62. Retirement age was 65. The pension was predicated on the assumption that most would never receive it. Someone born in...
Rates in 2021

Rates in 2021

Banks and Commentators alike are saying this week; “The next move on rates is UP - You must lock in now!” What complete twaddle! (Commentators are back at work after the holidays and feel the need to say something to start the year, banks however, are saying...

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Best Interest Duty

Best Interest Duty

On January 1st new legislation for brokers comes into play – it is called Best Interest Duty. So, how do you actually find a broker who will act in your best interests? It is a sad comment on an industry of which I have been a part for 23 years, with multiple awards...

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Rates – Where to?

Rates – Where to?

As of Tuesday, the Reserve Bank Cash Rate is at 0.1%, The Reserve Bank also announced it will buy Australian Govt 3, 5 and 10 year bonds to keep them at their desired target of 0.1%. So, if banks can be profitable with an interest rate margin of 1.8%-2.2% - then your...

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House Price Leads the Way to Recovery

House Price Leads the Way to Recovery

Yes – you heard that correctly. Since January this year only Melbourne and Perth house price trends are negative. Sydney - up 1.8% Brisbane - up 2.1% Adelaide - up 3% Melbourne and Perth have their own temporary Covid issues. The interest rate on your home loan should...

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So Where Are Rates Headed?

So Where Are Rates Headed?

This morning as I was sitting down to write on the (immediate and medium) future of interest rates, knowing that they are poised to head down again – two clients of long standing emailed me. One wrote to me – tongue in cheek; “I know (how much) you “adore” fixed...

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10 Financial Tips to survive Covid-19

10 Financial Tips to survive Covid-19

Consolidate your finances. We often keep lots of accounts, with small amounts of money in them – if you have repayments for loans, and are concerned that you may be short of funds, round up those small accounts and put them all into the account that repayments are...

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