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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021.

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Steve Waters, director of Right Property Group, chats about online auctions and why they resemble “a bad Zoom meeting”, the growing resilience of the property market, and how Sydney’s lengthy lockdown could shake things up.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into short selling – the original trade that sent GameStop stock soaring – and how activist short-sellers are impacting markets.

And lastly, tax and super guru Timothy Munro talks about those early tax lodgers and possible ramifications, as well as detailing the temporary shortcut method, which you may be able to use this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-07-13 07:55:25" ["slug"]=> string(123) "17060:do-lockdowns-boost-property-prices-are-short-sellers-levelling-the-playing-field-did-you-lodge-your-tax-returns-early" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(136) "/resources/podcast/do-lockdowns-boost-property-prices-are-short-sellers-levelling-the-playing-field-did-you-lodge-your-tax-returns-early" ["image"]=> string(65) "images/podcasts/230221_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

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Do lockdowns boost property prices? Are short-sellers levelling the playing fiel...

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Borrow

Is it time to get a better rate?

By Cameron Micallef

August 06 2020
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Borrow

Is it time to get a better rate?

By Cameron Micallef
August 06 2020

Mortgage-holders are being advised to take advantage of record-low interest rates and refinance if they haven’t already done so.

Is it time to get a better rate?

By Cameron Micallef

August 06 2020
Share

Mortgage-holders are being advised to take advantage of record-low interest rates and refinance if they haven’t already done so.

New research by RateCity has found that 43 per cent of Australian mortgage-holders are looking to refinance to a better rate, taking advantage of a record-low cash rate.

By comparison, a survey conducted by RateCity in 2018 revealed that 19 per cent of borrowers were looking to refinance, following the banking royal commission. That’s more than double in just two years.

Sally Tindall, research director at RateCity, highlighted that mortgage-holders are no longer tolerating overpaying for their mortgage.

“The loyalty tax gets worse the longer you stick with your bank.

“It’s taken a pandemic to get people to shift their mindset, but hopefully we’ll come out of it more budget-conscious and less complacent towards our mortgages,” she said.

Ms Tindall highlighted that the large financial institutions are willing to fight for consumers, meaning mortgage-holders can take advantage.

“The banks are pulling out all the stops, too, putting some of the biggest cashback offers and rock-bottom rates on the table and adding more flexibility on fixed-rate loans to attract new business – and it is working.

“The best way you can get a rate cut is to turn yourself into a new customer and switch. If you aren’t in a position to refinance, pick up the phone and try some old-fashioned haggling with your bank,” she said.

How much can a mortgage-holder save?

According to RateCity’s analysis of RBA data, existing owner-occupiers are paying over 1 per cent more than the lowest variable rate in the market.

If they switched to the lowest ongoing variable rate, that’s a saving of $2,805 in the first year, and $19,235 over five years, including switching costs, on the typical $400,000 loan.

This is based on an owner-occupier who switched five years into a 30-year loan.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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