• 13 April 2017 Coastline today announced an update on variable home loan and business loan interest rates. Owner Occupied Home Loans Interest rates on Variable Principal and Interest Owner Occupied Home Loans remain unchanged at 5.04%pa. Interest-Only Owner Occupied Home Loans Interest rates on Interest-Only Owner Occupied Home Loans will increase by .25% from 5.04%pa to 5.29%pa effective 1 June 2017. Residential Investment Home Loans Interest rates on Variable Residential Investment Home Loans will increase by .25% from 5.19%pa to 5.44%pa effective 17 May 2017. Residential Investment Interest-Only Home Loans Interest rates on Variable Interest-only Residential Investment Home Loans will increase by .50% from 5.19%pa to 5.69%pa effective 17 May 2017. Business Loans Variable interest rates on Principle and Interest Business Loans remain unchanged. Interest-Only Business Loans Interest rates on Interest-Only Business Loans will increase by .25%pa effective 17 May 2017. Coastline’s General Manager Peter Townsend said: “The changes we are making in home and business lending affect investors and borrowers who only repay interest on their loan. Investor principle and interest loans have also been increased. These changes reflect the need to closely manage our regulatory obligations, our portfolio risk and the competitive environment”. “We will be writing to our members with interest-only home, residential Investment and business loans in April to give them notice and time to switch to repaying principal and interest to take advantage of the lower interest rate”. Coastline will publish the new rate schedules and effective dates on Tuesday 18 April 2017 on www.coastline.com.au  
  • The Reserve Bank has decided to keep the Official Cash Rate unchanged at 1.50% during its Board meeting on 4 April 2017. This was due to numerous reasons, including the continued growth of global economic conditions and higher commodity prices which have boosted Australia’s national income. The market expectations suggest that there will be no change in the rate until an increase in mid-2018 by 0.25 points to 1.75 per cent. The US Federal Reserve is expected to lift its cash rate this month for the third time since 2015, providing "cover" that would allow the Reserve Bank to lift its rates without pushing up the Australian dollar. The Australian economy is continuing its transition following the end of the mining investment boom, expanding by around 2 per cent in 2016. Due to this, non-mining business investment has risen over the past year, alongside Australian exports. “The depreciation of the exchange rate since 2013 has also assisted the economy in its transition following the mining investment boom. An appreciating exchange rate would complicate this adjustment.” Labour market indicators continue to be mixed in light of the considerable variation in employment outcomes across the country. The unemployment rate has been steady at around 5 per cent over the past year, with employment growth concentrated in part-time jobs. The forward-looking indicators point to continued expansion in employment over the period ahead. Given that the low growth in labour costs has led to inflation levels being low, it is unlikely that underlying inflation will change in the near future. The rate has also been kept steady due to the uncertainty of what another cut could do to the housing market, particularly amid concerns about extraordinarily fast home price growth in Sydney and Melbourne. The housing market has experienced a mixed bag of trends over the last three months. Growth in rent rates continues to be the slowest it has been for the last two decades, while Eastern capital cities can expect an increased amount of apartment construction over the next few years. If you have any questions about how this may affect you, please get in touch today.
  • Effective 09 March 2017, the Interest rates, Balance Tiers and Name of these Accounts will change. The S11 Deeming Account will be changing its name to Retirement Access Account. The following Interest rates and balance tiers will apply to the Retirement Savings Account; Basis of Calculation                        Rate Per Annum $1 to $50,000                                     1.10%pa $50,000 plus                                      2.25%pa  There is nothing you need to do. Your Retirement Access Account will continue to: ·         Retain the same BSB and account number, card access and PIN ·         Have the same online banking details Retain all the same limits (if applicable) ·         Continue with all the same direct credit and debits including all scheduled payments The following transaction types are fee free transactions: Coastline / BCU/ Westpac/ St George & Bank SA ATM Transactions Internet Banking Telephone Banking Bpay Direct Debits & Credits Deposits EFTPOS  
  • Buying a home is a significant milestone in your life. Deciding what type should be a well thought out decision and only finalised when you are certain it is the right loan for you. This article will provide you with some points to consider before signing the contract on your home loan.
  • Coastline announces the launch of our online support Zopim Chat tool.
  • It's tax time and we would like to remind you to be wary of potential scams!