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| 18 Hot Tips For Intending Borrowers If you're thinking of borrowing money to buy a car, boat, debt consolidation, home repairs, medical bills or anything else for that matter, here are some red hot tips to make the process much, much easier. - read more
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| Personal Loans And The Consumer Credit Code Understanding your rights as a consumer is essential in dealing with complex issues like personal loans and other finance. Here we reveal, in simple terms, how the Credit Code works for you. - read more
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| Buy Now, Pay Later Services: Balancing Convenience with Responsibility Millions of Australians use Buy Now, Pay Later (BNPL) services, such as Afterpay, Zip, humm, and Klarna, to make purchases and pay back the amount in instalments. However, concerns have been raised about the easy credit offered by these services and the potential harm it can cause to vulnerable individuals. The Australian government has promised to crack down on the industry by the end of the year, with a focus on ensuring appropriate checks are in place to prevent the inappropriate marketing of credit to vulnerable groups. - read more
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| New Study Predicts Further Mortgage Stress for Homeowners 31 Mar 2023: .financialservicesonline.com.au With persistent interest rate hikes coming from the Reserve Bank of Australia (RBA), a new study by Roy Morgan has revealed that 25.3% or 1.23 million of Australian mortgage holders were classified as 'At Risk' of mortgage stress in the three months leading up to February 2023. This number marks the highest point since September 2011's 1.3 million, and it's expected to rise even higher if inflation doesn't slow down. - read more |
| Buy Now Pay Later Schemes: The ‘Addictive and Dangerous’ Predatory Schemes 30 Mar 2023: .financialservicesonline.com.au Buy Now Pay Later (BNPL) schemes have become a new trend in the financial market with people constantly looking for a more convenient way of shopping. While their popularity is increasing, financial advisors are raising concerns about the high-risk lending schemes that are now targeting young Australians. The number of accounts has surged from five to seven million in the last year, mostly held by people between the ages of 18 to 34. - read more |
| New Standards Set for Financial Adviser Exam with 67% Pass Rate 30 Mar 2023: .financialservicesonline.com.au The Australian Securities and Investments Commission (ASIC) has recently released the results of the latest Financial Adviser Exam in February with a pass rate of 67%. This exam sets new standards for financial advisers, ensuring they have the necessary skills to apply their knowledge of advice construction, ethics and legal requirements to practical scenarios. - read more |