Lockdown looms again, billionaires set off to space & the new financial year begins: This week’s best banking news
- Aussies are back in lockdown
- Top destinations for capital city defectors revealed
- Kickstart the new financial year
- Woolworths named Australia’s best online grocery delivery service in 2021
- Billionaires set off to space
- Home loan hardships continue during the pandemic
All in this week’s best banking news recap: editor’s pick.
Aussies are back in lockdown
After what seemed like a more hopeful few months for the coronavirus climate in Australia, let’s just say anything can happen in a New York COVID-minute.
Over the past week, we’ve seen many Australian cities and regions go back into lockdown after a rapid spike in new COVID cases across the country due to the emergence of a new virus strain.
Read full article: Everything you need to know about Coronavirus and your finances to keep up with all the latest COVID changes.
Top destinations for capital city defectors revealed
New research finds that the number of Aussies looking for a change of scenery from the city has hit a record high during the COVID-19 pandemic.
According to the inaugural Regional Movers Index Report from the Regional Australia Institute (RAI) and the Commonwealth Bank (CBA), population flow from capital cities to regional areas has gone up by 7% between the March 2020 quarter and the same period in 2021.
The report also found that the top destinations for city-slickers looking for a sea change were the Gold Coast (11%), the Sunshine Coast (6%) and Geelong (4%).
Read the full article: Gold Coast, Sunshine Coast and Geelong revealed as the top destinations for capital city defectors for a full report.
Kickstart the new financial year
We’ve officially reached a new financial year. And after the past twelve months we’ve had - now’s the time to crack down and start things off on the right foot.
Lucky for you our July 2021 is jam-packed with all the tips and tools to help get you started.
In this month’s checklist:
- Some valuable resources to help you tackle your tax return
- Learn how to set some stellar savings goals
- Rejig your finances to boost your savings
- Watch some millennials make a fool of themselves
- Consider the bigger picture this Cancer season
Read the full article: July Financial Checklist to help you start the new financial year right.
Woolworths named Australia’s best online grocery delivery service in 2021
If you weren’t an online grocery shopper before, then you might be following the COVID-19 pandemic. Not to mention, with many Aussies currently back in lockdown, now’s a great time to get on board.
But while you might have your fave in-store supermarket, finding the right online grocery store can be a whole different ball game. Lucky for you, our Mozo Experts have already checked out some options.
Woolworths was just crowned Australia’s best Online Grocery Service of the Year in the 2021 Mozo Experts Choice Awards for Online Grocery Service. So if you’re considering doing your next weekly shop from the couch, then Woolies could be the way to go!
Read the full article: Woolworths crowned Australia’s best online grocery delivery service in 2021 to hear all about it.
Billionaires set off to space
While many Aussie holiday plans have been put on pause due to the recent rise of COVID-19 cases, Amazon CEO, Jeff Bezos, is currently planning for his upcoming trip to outer space.
Though, it’ll only be a short journey - 11 minutes, to be exact! That’s right, billionaire Bezos and a few other wealthy eager space-travellers will be setting off to space in his company’s rocket.
You can hear your fave podcast hosts chat all about it in episode 32 of The Finance Burrito podcast.
Read the full article: Travel insurance in 2021 and why Jeff Bezos can’t get cover for his space odyssey to get the full scoop!
Home loan hardships continue during the pandemic
Despite many of the major banks announcing support packages for Aussies who’ve been financially impacted by the latest lockdown, Mozo research finds that some of these options could potentially lead to large sums of long-term debt.
By taking a 3-month mortgage holiday on a $400,000 owner-occupier principal and interest home loan, you‘d be adding $39 to your monthly repayments and $3,250 to your total loan amount.
Read the full article: Home Loan Hardships Continue During Pandemic - What Are Your Options? to find out more.
After a competitive home loan deal to help you buy your dream home? Use our handy home loan comparison tool to compare your options:
Compare Home Loans today - last updated 28 March 2024
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Offset Home Loan
Package, Owner Occupier, LVR<60%, Principal & Interest
interest rate
comparison rate
Initial monthly repayment6.15% p.a. variable6.40% p.a.Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
CompareCompareOffset Home Loan
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
- interest rate
- 6.15% p.a. variable
- comparison rate
- 6.40% p.a.
- interest rate
- 6.15% p.a. variable
- comparison rate
- 6.40% p.a.
- Upfront fees
- $350
- Ongoing fees
- $248.00 yearly
- Discharge Fee
- $400.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 60.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Offset Home Loan
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Mozo experts choice awards won:
- Exceptional Value Home Lender - 2024
Express Home Loan
Owner Occupier, Principal & Interest, LVR <90%
interest rate
comparison rate
Initial monthly repayment6.01% p.a. variable6.14% p.a.Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
CompareCompareExpress Home Loan
Get fast online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
- interest rate
- 6.01% p.a. variable
- comparison rate
- 6.14% p.a.
- interest rate
- 6.01% p.a. variable
- comparison rate
- 6.14% p.a.
- Upfront fees
- $134
- Ongoing fees
- $10.00 monthly
- Discharge Fee
- $350.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $5,000
- maximum borrowing amount
- $3,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Express Home Loan
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Mozo experts choice awards won:
- Fixed Rate Home Loan - 2024
- Investor Fixed Home Loan - 2024
Fixed Rate Home Loan
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment5.99% p.a.
fixed 2 years6.24% p.a.Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
CompareCompareFixed Rate Home Loan
Secure a low rate and enjoy the certainty of repayments, with the BCU Fixed Rate Home Loan. Save with no ongoing annual fees. Pay up to $25,000 extra during a fixed period (T&Cs apply). Lock in for up to 5 years.
- interest rate
- 6.29% p.a.
fixed 3 years
- comparison rate
- 6.30% p.a.
- interest rate
- 6.29% p.a.
fixed 3 years
- comparison rate
- 6.30% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $395.00
- Extra repayments
- yes, up to $25,000 during fixed period - fee applies
- Redraw facility
- no
- Offset account
- no
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- $20,000
- maximum borrowing amount
- $2,500,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Fixed Rate Home Loan
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Featured Product
Ultra Low Rate <95% LVR
Owner Occupier, Principal & Interest
interest rate
comparison rate
Initial monthly repayment6.30% p.a. variable6.58% p.a.Only 5% deposit required to apply. Low upfront costs to pay. No LMI Required. Unlimited Redraw and additional repayments. No Application or ongoing fees. No guarantors or equity sharing required. New Purchase - Metro only.
CompareCompareUltra Low Rate <95% LVR
Only 5% deposit required to apply. Low upfront costs to pay. No LMI Required. Unlimited Redraw and additional repayments. No Application or ongoing fees. No guarantors or equity sharing required. New Purchase - Metro only.
- interest rate
- 6.30% p.a. variable
- comparison rate
- 6.58% p.a.
- interest rate
- 6.30% p.a. variable
- comparison rate
- 6.58% p.a.
- Upfront fees
- $790
- Ongoing fees
- $0.00
- Discharge Fee
- $795.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 95.00%
- minimum borrowing amount
- $350,000
- maximum borrowing amount
- $2,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Ultra Low Rate <95% LVR
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Featured Product
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
Owner Occupier, Refinance Only, LVR <80%
interest rate
comparison rate
Initial monthly repayment5.99% p.a. variable5.90% p.a.For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
CompareCompareUnloan Variable
For refinancers only. Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply in as little as 10 minutes.
- interest rate
- 5.99% p.a. variable
- comparison rate
- 5.90% p.a.
- interest rate
- 5.99% p.a. variable
- comparison rate
- 5.90% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $10,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Unloan Variable
Your selected interest rates
Your selected interest rates
Your selected interest rates
Your selected interest rates
Your selected interest rates
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
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