How to start adulting financially without it being a drag

By | July 22nd, 2017|Banks & Finance|

Here at Loop, we love all things financial but we know that not everyone shares our passion. That’s why we also love being able to inform, encourage and advise you to help you make better financial decisions, especially when it comes to disposable income. You have worked hard for your money, after all, so why [...]

Why it pays to know your credit score before you apply for finance

By | May 9th, 2017|Banks & Finance, Loop Financial|

Are you planning to apply for finance soon? Whether it’s for a new car, a new home, or renovations on your existing place, there’s one simple thing that may hamper your chances of getting the loan you need. We’re talking about your credit score. Think about it: before you put all that effort into your [...]

Are Gen Y and home ownership even compatible these days?

By | November 18th, 2016|Banks & Finance, Market Information|

If you're a Gen Y-er struggling to get on the property ladder, we'll pause to let you feel sorry for yourself for a moment. And rightly so – you've landed in a generation where house prices are through the roof, education is no longer free and you'd better not require any healthcare or you'll be [...]

Fancy investing in Bondi? For just $96 you can have a brick

By | November 14th, 2016|Banks & Finance, Market Information|

If you've ever dreamed of becoming a property tycoon with investments all over the country, it just got a bit easier. Scraping together deposits and worrying about complicated tax issues needn't be a problem, with a new company offering investors the chance to buy into properties one brick at a time. The latest property up [...]

Australia’s housing market staying strong (for now)

By | November 1st, 2016|Banks & Finance|

If you're on the verge of buying your first home but have been waiting for property prices to stabilise or even fall, it looks like you'll have to hold out for a while longer. After this morning's RBA decision to leave the rate unchanged at 1.50 per cent, it was noted that housing market conditions [...]

The RBA decision that stops the nation! November 2016 Rates Decision

By | November 1st, 2016|Banks & Finance|

All of the banks are lining up and the gates are drawn and they are off! But is looks like there will be neigh change for the month of November. In the RBA's meeting today, the Board have decided to leave the cash rate unchanged at 1.50 per cent. The global economy is continuing to [...]

NAB increases minimum deposit for ‘risky’ suburb properties

By | October 26th, 2016|Banks & Finance|

Just when you thought the banks couldn't make it any harder for first homebuyers to secure a place of their own, one of the major banks has announced you'll now need a 30% deposit if you want to buy in one of its blacklisted 'risky' suburbs. NAB's blacklist contains more than 600 suburbs and towns [...]

300,000+ mortgage holders could be at risk of loss

By | October 17th, 2016|Banks & Finance|

Owning a home with a mortgage may give you a sense of financial security, but a new report by Roy Morgan has shown that 6.8% of people with a mortgage (311,000) in fact have hardly any real equity built up in their home. In these cases, people's homes were found to be worth the same, [...]

NAB is changing the way it sells through brokers

By | October 10th, 2016|Banks & Finance|

One of Australia’s biggest banks has announced big changes to the way it works with brokers, the aim being to improve customer service and minimise conflict between different sales channels – two causes we can certainly get behind. NAB this week revealed its updated broker offering which now gives customers who are introduced through brokers [...]

Sounds like the RBA don’t like change! October 2016 Rates Decision

By | October 4th, 2016|Banks & Finance|

It would appear that the RBA don't like change very much, at their meeting today, the Board decided to leave the cash rate unchanged, so it will continue to sit at its record low of 1.50% for another month (which we are not complaining about!). In their official statement, the RBA stated "In Australia, the economy [...]

Westpac scrapping product-related incentives to focus on service

By | September 26th, 2016|Banks & Finance|

Don't you just hate it when you go to the bank to carry out a simple transaction but the teller won't let you leave until you've signed your life away on some insurance policy or credit card deal? You'd be forgiven for thinking that the staff at your bank have been taking training courses from [...]

Millennials wave goodbye to $183 million in ATM fees as they jet off

By | September 16th, 2016|Banks & Finance|

International travel is costing millennials $183 million a year just in ATM fees, new research by Westpac has shown. The 2016 Travel Finance Report from the bank found that young Aussies spend $11.3 billion overseas every year, but they aren't planning ahead when it comes to accessing that money. Respondents to the study aged 18 [...]

The real cost of economic inequality, $500 a year from your pocket

By | September 12th, 2016|Banks & Finance|

If you hardly noticed your last wage increase and you're left struggling for cash at the end of each month, you're certainly not alone. Economic inequality is on the rise and it's not just your pay packet that's taking a hit. A new report that's just been released suggests that the entire nation's well-being is [...]

So long, farewell, Auf Wiedersehen, goodnight! Rates Decision September 2016

By | September 6th, 2016|Banks & Finance|

It was the RBA Governor, Glenn Stevens, last meeting today prior to stepping down from his RBA role and with rates at an all-time low, the outcome was generally predicted as a hold.   But with plenty of “crazy” happening around the globe right now, you really just don't know! As per our ‘Loop Alerts’ last [...]

Ever wondered who controls our bank notes, and what happens to the old ones?

By | September 5th, 2016|Banks & Finance|

If you've been out shopping in the past few days you've probably noticed a change in your change, with the first release of Australia's next generation of bank notes made last week. This is the third time our bank notes have received a major overhaul: The decimal currency was introduced using paper notes in 1966 [...]