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  • Posted on : 5 Sep 2018

Welcome to this month’s edition of the Dot. We hope you’ve had an enjoyable couple of weeks since we last communicated. For those who have us on Social media – Facebook and Instagram, you would have noticed Loui’s face popping up on your news feed discussing the things we think are of value to you. In this edition we’ll be covering off

  • – The big 4 vs everyone else.
  • – Hotspot areas to pay attention to as the capital cities wind down.
  • – What’s Dot been up to for the month.

BIG vs SMALL
The pros and cons of going with the major banks vs the smaller institutions and credit unions is a discussion on almost everyone’s dinner table nowadays. Your parents tell you to go with a big bank for safety and security reasons while a friend say’s the big banks charge too much, you should go with a smaller bank. What do you do?
The big four banks account for a significant proportion of the Australian mortgage market, however, that doesn’t mean they are the only lenders who will lend you the money. Depending on the source of data you look at, the market share of the major banks (and their subsidiaries) currently stands between 70-75%. This figure has declined over the last few years as more borrowers look to save money on their home loan repayments given the smaller institutions price more aggressively.
The table below gives you a quick insight into the strengths and weaknesses according to our own research and experience.

 Major BanksSmaller Banks
 Interest rate
Customer Service
Approval Times
Safety
Flexibility

 

Choosing what bank inevitably, is decided on what your personal preferences are aligning the bank of choice to your individual goals.

Areas to pay attention to – According to Property Analyst Terry Ryder from Hotspotting.

As the capital Cities wind down, there are plenty of opportunities for growth in the outer regions of each state. According to the property experts from Hotspotting, they have released their latest report – the price predictor index, to show suburbs around Newcastle in New South Wales and Ballarat in Victoria are at the forefront of the new growth cycle.

As the fade continues in the capital cities, a regular trend that is evident in this cycle and others before it, is the ripple effect which now has reached these regional centres. A snapshot of the Australia’s 50 hottest suburbs below.

What has Dot been up to for the month?
We’re still working on our big-ticket project sure to change your views on how we can substantially reduce your debt in a much quicker timeframe. We are building nicely, building relationships along the way and solidifying our brand through innovative marketing campaigns. Be sure to keep a look out for the big red dot and our posts on social media.

As always, we hope you enjoyed reading the blog and should you have any questions, please feel free to email Connecting@dotfinancial.com.au or you can call us on 1300 000 DOT (368).

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